Consumer complaint received 2016-12-26
Company: Bay Equity LLC
State: TX
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Credit decision / Underwriting

Complaint:
XXXX XXXX XXXX XXXX XXXX XXXX 
XXXX, TX XXXX XXXXXXXXXXXX XXXX/XXXX/2016 The mortgage lender Bay Equity made many mistakes and treated me very poorly. I have many recorded phone conversations and emails. Here is a list of things they did wrong : - They told me they would easily close on the house within 45 days. However, I had to get multiple extensions and had to finally cancel the contract with the seller. 
- There were lots of unnecessary delays. They would contact me after days and weeks of no communication and would tell me to hurry on my end and sign documents and get new requirements from the contractors. Instead, the lender should have kept in constant communication with me and told me all or most of the requirements up front. 
- I was told multiple times that this little loan was taking too long and too much work to close on. The Loan Officer mentioned he normally deals with larger loans and did n't want to spend too much time on this smaller loan. This is discrimination against poor people that do n't have money to purchase expensive houses. He belittled me many times. 
- They told me the house had plumbing issues and a plumber was needed when that was not the case. They did n't want to read/analyze the appraisal report and realize there was no plumbing issue, just rotten wood from previous issues in the house 's history. If I was to get a plumber, they would n't have done anything. There was nothing to fix. 
- They told me the estimates from the licensed contractor were too low and wanted me to get more expensive quotes. They were pushing for larger bids/quotes. The contractor decided to drop out after too much back and forth. I had to then find more contractors, delaying the whole process and having me to get more extensions with the seller. 
- I wrote them an email and also had a phone conversation where I locked my loan@3.99 % but was told later that was not the case. The rude Loan Officer was XXXX XXXX. I have phone conversations saved where he says he knows better than to trust me and other nonsense like that. I had to go above his head and his superiors gave me a 4.125 % interest rate. 
- Eventually after a few weeks, they decided to change the loan to a XXXX streamlined. This was so because of nonexistent plumbing issues they said and the house was not inhabitable, which was not the case. My interest rate went up. 
- The lender told me after my 4th extension with the seller that I would need to check the foundation. They should have told me from the beginning. 
- XXXX XXXX was very rude to my realtor and me throughout. 
- They were uninterested in closing as soon as possible, costing me time and money. 
- I would ask questions and either I would receive responses a few days later or I would never hear from them. 
- Made me email my personal documents instead of uploading to his website. I had to remember myself to upload instead of emailing. 
My realtor kept in contact with XXXX XXXX, the Loan Officer, much more than I did, I 'm sure she also has a list of things they did wrong. Please review our case ; people should n't have to go through this type of process and be treated as I was. 
I believe I should be refunded all my expenses by Bay Equity and the XXXX and Loan Officer should be fired. This has probably happened to many other home buyers and will continue to happen.

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