Consumer complaint received 2016-11-23
Company: LD Holdings Group, LLC
State: NJ
Product: Mortgage
Sub-product: FHA mortgage
Issue: Settlement process and costs

Complaint:
We began the process for a construction loan with XXXX back in XXXX. From then until present we have received misinformation about crucial components of the process, such as proposed closing dates, amount required to close, and even difficulty at present with regard to the first draw. We were initially told that the closing would take place on XX/XX/XXXX during my brief return from visiting family in XXXX. The closing did n't actually take place until the XXXX. Our mortgage broker, XXXX XXXX told us we should prepare the house for the XX/XX/XXXX closing and the commencement of construction, and so we cleared our house and placed all of our belongings in storage. Make no mistake ; I am fully aware of the unforeseen complications that can occur with regard to processing a government loan. However, we have email records that clearly indicate several lapses in the processing of paperwork, as well as faulty information regarding the timeline and credentials necessary for the transaction. Certain forms ( that did n't require any updating ) were requested and filled out as many as four times, as our mortgage broker told us he had lost them. 
Additionally, several weeks after finally receiving notification that we were " cleared to close, '' my wife called our mortgage broker to check on the status of our loan, as we had received no update. Our broker, XXXX XXXX, of XXXX, became defensive and rude on the phone, and told her that he was " done with us '' and said, " Your loan was only approved because of me. I am passing this to my boss, and I can assure you that now your loan wo n't be approved. '' I 'd like to think that the approval of line would be based on the applicants ' meeting the qualifications of financial solvency required, and not be contingent upon the personal whims of an individual. 
When XXXX boss, XXXX XXXX, took over our loan, he was just as vague and non-compliant about our closing procedures. We received absolutely no consultation or update about our closing documents or the closing itself. We were told that we had to " figure out '' who our title company was, and schedule the closing ourselves. When we met with the closing agent, she informed us that XXXX had been alerted about the date and details of our closing, and that they had assured the title company that they would make the clients aware. This never happened. 
After all of this, our closing finished, and the initial disbursement was transacted on XX/XX/XXXX. The check for the first draw has still not been cut, and we have placed several phone calls to address this problem. XXXX XXXX, another individual from XXXX, spoke with us after we placed a phone call this morning and assured us that he would call us with an update on the check. He never did. I am thoroughly disillusioned with the complete lack of professionalism on the part of this company. XXXX essentially collected XXXX dollars for themselves in exchange for providing zero service and subjecting my family to immense inconvenience and stress.

Company public response: Company believes complaint represents an opportunity for improvement to better serve consumers
Company response to consumer: Closed with explanation