Consumer complaint received 2016-07-19
Company: Cornerstone Home Lending Inc.
State: TX
Product: Mortgage
Sub-product: FHA mortgage
Issue: Application, originator, mortgage broker

Complaint:
My husband and I obtained an FHA mortgage through Houston-based Crestmark Mortgage, LLC, to finance our new-build XXXX XXXX. The process has been a nightmare, with a complete lack of communication and the lender repeatedly losing our financial documents. We held our noses and did our best to cooperate, being as proactive and responsive to requests as a mortgage consumer could be. 

The worst part of my experience - and the basis for my complaint to the Consumer Financial Protection Bureau - happened on Thursday, XXXX XXXX ( noting our scheduled close date, happening on Monday XXXX XXXX ). Late Thursday evening I was finally provided with the Closing Disclosure document ( without any explanation, by phone call or email, to notify me to expect or attempt to explain the purpose or contents of this document ) via XXXX XXXX. 

Not wanting to delay the coming close date, I read and reviewed this Closing Disclosure immediately. I found that the figures contained within ( specifically, Seller 's Contributions to Closing Costs ) did not at all line up with what I had been told early in the process. I emailed back directly and told the entire lending team at Crestmark that I believe the document they sent me contained errors, and would not sign it until it had been corrected. 

I forwarded it immediately to my Buyer 's Agent to review - less than one hour later, the document had been pulled from XXXX and she was no longer able to review. I assumed that they also noticed errors, or were perhaps reviewing the prepared Closing Agreement again to check. 

The next morning, I woke up to an email from the Loan Processor directing me to sign the Closing Agreement as they had sent it the previous night, and that failure to do so would result in missing our closing date. I was directed to sign immediately, even though it was acknowledged to contain potential errors, or risk losing my new home. 

I wrote back immediately to say that I would under no circumstance sign legal document I feel to contain errors, and that I find it reprehensible that mortgage company would push clients into signing ( potentially ) inaccurate documents all while holding threat of losing a home over the buyer 's head. 

As a point of fact, I will admit that the Closing Disclosure did not have errors - I was mistaken and ( with all my worldly experience as a first-time homebuyer ) I did n't understand what I was looking at. My frustration lies in the fact that no attempt to educate, clarify, assist, explain or enlighten was made to me prior to or immediately after sending this document. I was only called several hours AFTER the loan processor pushed me to sign a legal document I had expressed concerns about - and possibly only called because I pushed back. 

Is directing clients to sign inaccurate documents the norm for Crestmark Mortgage? I should n't feel pressured into any step of such a large financial decision, and I think Crestmark exhibits both poor customer service and poor judgement.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation