Consumer complaint received 2017-06-07
Company: ZIONS BANCORPORATION
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
On XX/XX/XXXX, my husband and I bought condo in XXXX through XXXX XXXX XXXX XXXX in XXXX, CA. Although my husband had about {$40000.00} to pay a downpayment from his 401K,  XXXX insisted we sign a series of leans and told us we did n't need a down payment. Instead XXXX XXXX XXXX XXXX put us through a series of leans, a debt of about more than {$85000.00} besides our home mortgage loan of over {$300000.00}. On XX/XX/XXXX, my husband and I visited XXXX XXXX to start process to refinance our home because we have a very high interest rate of 6 % and a 40 year mortgage on our home loan through XXXX XXXX XXXX. The person we spoke to was XXXX XXXX from XXXX XXXX XXXX in XXXX XXXX. She opened escrow and found a series of leans in our home and she said I needed to contact the companies that owned those leans and to ask them if they can subordinate so my home can be refinanced. There is one lean with the city of XXXX for {$28000.00} two with XXXX - {$19000.00} and {$3800.00} and these two institutions agreed to subordinate. Then escrow found a third lean which we knew nothing about before and it 's for {$11000.00}. This lean shows in title as being owned by California Bank and Trust. XXXX asked me to ask them if they can subordinate the {$11000.00} so I can refinance my home. She gave me a copy of my home title showing California Bank and Trust as owning the lean for {$11000.00}. On the week of XX/XX/XXXX through XX/XX/XXXX, I visited a branch located at XXXX XXXX XXXX XXXX, XXXX, CA and I spoke to the Vice President of the the branch her name is XXXX. She assured me that there is no history of them ever owning a loan or a lean for {$11000.00} on my home. I then spoke with XXXX XXXX XXXX XXXX and spoke to XXXX XXXX. He assured me he knows nothing about this matter and adviced me to speak with my lender which is XXXX XXXX XXXX. On the week of XX/XX/XXXX, I spoke with XXXX at XXXX and asked him if he knew what was going on and if California Bank and Trust did n't own the lean, then who did or was that lean forgiven and if so, then I needed something in writing to prove lean is been forgiven or non-existing so I can refinance. He then told me that California Bank and Trust had sold lean to XXXX XXXX XXXX XXXX in XXXX, NV. I thought it was strange since California Bank and Trust had no record what so ever. I then asked XXXX to please give me their phone number so I can contact them. He then told me he was n't allowed to give me information about XXXX because only XXXX XXXX services could speak with them. He asked me to put in a request in writing and so he was going to forward the information along with copy of title to XXXX. I then faxed over my request in writing and faxed over a copy of title to XXXX from XXXX XXXX XXXX so he can forward it to XXXX. I then asked him if XXXX XXXX XXXX would fix title where wrong owner of lean to new owner of lean. The new owner should be XXXX XXXX XXXX XXXX. XXXX assured me that XXXX would do those changes on title. On XX/XX/XXXX, XXXX XXXX XXXX sent me a letter saying that XXXX is the servicer of the loan of my house on behalf of XXXX XXXX XXXX XXXX. I then called XXXX again to ask him if XXXX was willing to subordinate so I can refinance but he was very rude and told me he was n't sure if XXXX owned the loan or not. Now I 'm really confused and I want to file a complaint on XXXX XXXX XXXX for not changing the title in my loan to the correct lender and disadvantaging me in getting my house refinanced in a timely manner and for actng very rude and in a very unprofessional manner with me. All I want is to know who owns this lean so if it can be subordinated or not so I can refinance my loan though XXXX XXXX and be able to pay XXXX. Please help me with this matter. It seems to me something is very fishy and unprofessional has been done here with my loan especially if there is no record to prove that California Bank and Trust ever had a lean and or ever sold it to XXXX???? Is n't that strange?

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