Consumer complaint received 2017-02-06
Company: AMERICASH
State: CA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Settlement process and costs

Complaint:
Our ISSUES : 1.Processing time : We were initially told that it will be a 30-day process. Then it became 45 days.It ended up being 88 days despite submitting all our requirements ASAP. 
2.Communication : Initially, the communication was prompt. When we submitted all paperwork & signed on the dotted lines, the communication went downhill esp. when we pointed out errors in their documents.Based on the email from XXXX XXXX on XXXX XXXX, XXXX, the expected completion was 30-45 days without clarification when the 30-45 days will start.On XXXX XXXX, I started emailing Americash about the status of our application. I was never given a clear answer.All I got was excuses for the delay giving me an impression that our file was " too complicated '' to process. Americash had all our documents and they should have told us earlier that our file will be too complicated for them so I could have moved to another lender.From Day XXXX, Americash agreed to communicate via email only. We were assigned to a loan officer who works from XXXX to XXXX that was never made aware to us. It seemed like her schedule to reply to her emails is a few minutes before XXXX, leaving us with almost no chance to continue the exchange of emails ( on the same day ) because she has gone home. We had no choice but to wait for the following day to get a reply back.It was a challenge to communicate effectively. If there is any deadline or urgent matter or update, we would have appreciated being emailed ASAP instead of us chasing Americash or being told the last minute about a deadline. 
3.Accuracy of paperwork : Paperwork was amended more than once due to their errors. The answers given to us were : " they were not aware of said requirements '' or " they do not know why their computer made such calculation '', etc. Loan processing is their main business so do they expect clients like us to pick up their errors because of their lack of knowledge or un-reliable computer system? 
4.Debt consolidation : We understand the Debt to Income ratio. The details of the debt consolidation were never discussed with us. We only found out when we received the XXXX and Initial CD. We appealed to Americash ( more than once ) NOT to pay out the credit cards that we have pre-paid the interests until XX/XX/XXXX.We asked them to pay out the purchase option of our leased car so we can own the car outright and reduce our monthly debts.Our request simply fell on deaf ears. Americash went ahead and paid those credit card balances making us lose {$310.00} on prepaid interests. 
We were never told about the actual closing date and we were never given a proper update.I continued to pay off our debts so we will not risk ruining our credit. We told Americash about this & they said that they will pull out the latest credit report so they will have the correct balance for pay out and/or they will tell us when to email the latest statement so they can capture the correct outstanding balance. Americash did not do both so they ended up overpaying our credit cards by {$2300.00}, XXXX Mortgage was over paid by {$4900.00} and Property tax by {$140.00}. It was left to us to chase their overpayments. We had no access to the funds that should have been in our hands on settlement and had to wait for the refunds. The last refund check was received in XXXX XXXX! 
5.Customer service.I emailed Americash on XXXX XXXX to request copies of all signed documents for our file. To date, we are still waiting for our copies. 
I went with Americash because they advertised and claimed to be the # 1 lending company. 
I lost {$310.00} on prepaid interests on various credit cards plus the interest on all the refunds. I want to be refunded for all the lost interest and copies of all signed documents.I look forward to your help on this matter. Thank you.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation