Consumer complaint received 2020-01-03
Company: Home American Mortgage Corp
State: NE
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
I am writing this letter to express my total frustration with the dishonest and unethical behavior by HomeAmerican Mortgage Corporation ( HMC ). I have bought 5 homes over thirty years ( this is the second in Colorado ) and have never experienced anything close to my recent purchase. 

We initiated the purchase of our property in XX/XX/XXXX and provided a number of items at that time to the HMC. We also communicated that I would be retiring in XX/XX/XXXX and that my Daughter and Son in Law would live in the house for the duration. In XX/XX/XXXX,  our current house would be sold ( it is 100 % paid off ) and the proceeds would pay off the remaining loan. 

In XXXX we were asked to sign an Occupancy and Financial Statement ( OFS ). We marked second home. HMC insisted we sign this as an investment property. The OFS states that the owner intends to never use the home as a residence under this option. The OFS also has a section about fraud, misleading or inaccurate statements. We told HMC we would not sign this document as an investment property since that would be committing fraud. 

On XX/XX/XXXX, we were given the dates for our guided tour of the new home ( XX/XX/XXXX ), final home inspection ( XX/XX/XXXX at XXXX XXXX ) and closing ( XX/XX/XXXX at XXXX XXXX. ) Then the nightmare started. With less than one week to go, we started receiving a barrage of information requests from HMC. Most of the items could have been provided months ago. With 2 days to go, XX/XX/XXXX ( XXXX XXXX ), HMC insisted that we sign another Occupancy and Financial Statement as an investment property. I told them we would cancel the house purchase before I committed fraud. Quite frankly, the underwriter should be fired for their unethical insistence on how this was to be signed. 

As this point, we believed the process to be over. We attended the final home inspection on XX/XX/XXXX and found out HMC was wanting more information and that the closing would be delayed. I was still sending information at XXXX XXXX that night, over 5 hours past the closing time. This put us in a major bind. In all of my previous home purchases, once a closing time as set, the process was over. We had a number of items being delivered on XX/XX/XXXX. We decided to take the risk and did not cancel any deliveries. We should have never been put in this situation. 

On XX/XX/XXXX, we were told that we would close at XXXX XXXX, but that HMC was still wanting more information. All items that were submitted were from XX/XX/XXXX or earlier. Items that could have been provided months ago. 

It wasnt until we were driving into the parking lot of the XXXX XXXX at XXXX XXXX that we received word that HMC had clearing us for closing. 

During this last week, we went online and found a number of other individuals that have also have negative experiences with HMC. It is my hope that actions are taken so that nobody has to experience what we went through.

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