Consumer complaint received 2020-04-25
Company: SEMPER HOME LOANS, INC
State: RI
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
My name is XXXX XXXX and I was in the process of closing on a home mortgage loan with Semper Home Loans when I received the unexpected news that due to a disparity between my loan officer and his company my loan would no longer close. I had already signed and completed the closing disclosures, had a date and time set with the closing attorneys for Monday XX/XX/2020 at XXXX XXXX, and all conditions had been met and file was in clear to close. With no reason what so ever upper management simply decided not to close my loan, because they had a disagreement with had stated the file over something not even related to my file. This just doesnt seem right to me specifically as i had nothing to do with such disagreement. I am writing to see if there is anything that can be done. Losing this closing would not only mean losing the home that I have worked hard to obtain, but also the money invested with the inspection, appraisal and other fees as well as my valued time.We have reached out to the state of RI but so far no answer. i have also included the Loan officer 's email to the state of RI with additional details about this case. we are now in the process of doing the loan with another company, which will cost us another appraisal fee. Simply unnecessary. We have tried reaching the president of the company over and over with no response at all. i will also add some of the emails we have sent them as well as some of the emails Thank you in advance, XXXX XXXX. 

the LO has sent them as well in this Hello RI DBR, / CFPB My NMLS # is XXXX. I had worked for Semper Home Loans for 7 years and 4 months until they abruptly terminated my employment yesterday. 
I am the XXXX XXXX on XXXX XXXX 's loan. To retaliate against me, they have refused to close the loan for XXXX XXXX which they had already approved and issued a closing disclosure indicating a closing would occur on Monday, XX/XX/2020. XXXX XXXX has supplied and signed everything requested of her. This loan should be cleared for closing on Monday. XXXX and her young family and now subject to significant stress and hardship brought on by Semper Home Loans actions. 

It is my hope that RI DBR will find this action by a regulated lender to be completely unacceptable and that you will compel them to close this loan. I am available to speak with you because I wonder if an entity that would cause such grief and stress for a client is even worthy of being licensed by you to do business in our state or if they should at least be subject to significant penalties for their egregious actions. The XXXX family 's lives are in a state of total disarray over Semper 's childish actions. 

Sincerely, XXXX XXXX XXXX XXXX XXXX email to the owners- no response from them XXXX XXXX XXXX XXXX XXXX just had the uncomfortable assignment of telling me that XXXX informed her that because our branch was terminated yesterday, she has been informed that the only loans that were able to close were the loans that were already clear to close. This is not in line with your own branch manager agreement where you are required to give me 30 days notice of intention to terminate. 

Nonetheless, your employee XXXX XXXX ( copied here ) certainly didn't do anything to escalate the situation which resulted in XXXX terminating our branch. Why would you ever want to penalize him? Can you please do the right thing and get XXXX and his young family into their new home? All conditions have been fulfilled. His wife is under contract to close next week - she can't start over somewhere else without creating all sorts of inconvenience for multiple parties. 

Please reply back to confirm that you will close XXXX XXXX 's loan. 

Thanks, XXXX Email from my realestate agent to the president- no response has been received. 

Hi XXXX, my name is XXXX XXXX with XXXX XXXX XXXX XXXX, I'm writing to you because I'm very confused as to why my client XXXX XXXX 's loan isn't being called off after they got their loan disclosures signed. I reached out to some of the top agents in my office and they all expressed the same concern that a lender would do this. I understand that the XXXX branch was closed but the loan for my clients was already disclosed and ready to go by this Monday. What caused this abrupt stoppage after my clients invested their time, money, and put their house on the market to be sold during a time like this when we are all going through this pandemic together?

Company public response: Company disputes the facts presented in the complaint
Company response to consumer: Closed with explanation