Consumer complaint received 2021-08-01
Company: REGIONS FINANCIAL CORPORATION
State: MA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
My complaint is against Regions Bank, XXXX Florida. The Mortgage Lender, loan processor, buyers Realtor, sellers Realtor, and the Seller of property. The first thing I do want to say is, buyers need to have more rights, and not get get taken for thousands upon thousands of dollars. 

I was approved for a mortgage loan upon applying. After weeks of searching for a home, I found one but in ordered to have it I offered XXXX over the asking price of the listed price of XXXX and in which the home was only appraised at XXXX. So me offering the XXXX over the listing price of XXXX the seller excepted my offer. The seller then says she needed to have a additional 6 weeks to move. I had agreed to it but I had to make other arrangements on where to live for those 6 weeks which was in a hotel that cost me XXXX a week X 6 weeks. Other costs along side that was for the plane fare from XXXX  to XXXX, my luggage costs, two different shuttles. Additional costs and fees related to the home process is XXXX. Upon submitting all documents on my behalf in a timely manner only to be having to do this several times over. The lender denied my loan but did not send me a letter and in which I had to ask for it. I then said to the Lender and my Realtor that I would like my earnest money back too. The lender then sends me the denial letter if you want to call it that but was dated for XX/XX/2021 where its from the credit reporting bureau which he the lender pulled on that date and I was approved. I then said to him thats not even related to a denial letter. Long story short, I was denied 2 days before closing, so they claim because I had not responded to their claim / issue at that very instant moment. Which I did reply and I said that I was working on it. In the mean time I said to my Realtor, if I am denied then want to know why and in writing and want my earnest money back. He then sends me a form to sign, I then said I am not signing anything until I know I am getting my Initial DP back. He said thats what its for. I looked it over and I was entitled to the full amount and not even 2 seconds later he sends me another form to sign saying that I would only get half. I said no, I am not signing it, and I did not sign. I also said to him that I was good enough to give her that time that she needed to move so I think she should give me an extension as well and that was to resolve an issue. The seller was very unreasonable and very hard to get a long with. Her greedy little self is not entitled to keep my Initial deposit. I feel like I was taken to the cleaners. Buyers need more rights. Buyers should not have to be put through XXXX the way that I was. Buyers should not have to put up all them up front costs where someone next in line buying the house benefits from it. I want my earnest money back. That is my hard earned money not theirs and hers to keep. XXXX ... .... I have all my documents of this case and conversations with them if need of them. I also would like to say that I am not only doing this for myself but I want to help others out there who were or will be taken fir their hard earned money. It sounds like a racket and a racket that needs to stop.

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