Consumer complaint received 2017-11-01
Company: SecurityNational Mortgage Company
State: NV
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Closing on a mortgage

Complaint:
I have various texts and emails, on XX/XX/XXXX I closed a loan with a hard money lender using XXXX XXXX as the loan officer. Never once had he disclosed any fees to me, or that the hard money lender was no licensed. 
No amortization was given to me as they said it was a interest only. The loan amount was $ XXXX closing fees exceed XXXX. I got this loan as I needed additional money to bridge the sell of my prior home and the purchase of my new home ... after closing on both the sell and purchase (XX/XX/XXXX) I started the loan process to find out they are not able to refi because he isnt licensed and it needs to be a full 6 months ... 
what he isnt licensed thats not legal. I call the state of Nevada and verify that he has to be licensed, yep. XXXX XXXX XXXX and he tells me I never said he was licensed. Im licensed and thats all that needs to happen ... who carries your loan doesnt matter. 
Backing up ... title XXXX XXXX is XXXX XXXX XXXX UT, XXXX XXXX is from XXXX XXXX XXXX UT and the lender, XXXX XXXX, works for XXXX Dad and is also is where yes XXXX XXXX XXXX UT. I put over XXXX down. They put me in a loan that I would not be able to get out of without coming back through him. 
First XXXX title was closer, also named themselves as trustee when XXXX at XXXX XXXX prepared the Note and Deed for the lender ... in speaking to the state, I find out its illegal for XXXX XXXX to record his name as the lender as he is not licensed. 
After closing I am still thinking I am dealing with a small hard money lender ( as I have in the past - totally licensed ). Nope, I am told to pay XXXX on the first of each month and stick it straight to his account. Wait, yes, an individuals account at XXXX XXXX. The loan amount is XXXX, its interest only and 10 % and payment is XXXX that does not calculate in my mind or past history ... I asked questions and XXXX gives me a run around song and dance telling me again trust me its completely legal. It really doesnt feel legal, I cant refi, the state is telling me it is illegal ... so I reach out to XXXX XXXX office for who he is a loan officer through.. asked to speak to complaince ... explained the loan & asked is this legal? Is this a loan you do? He violated section 32 in fees he charged and its an unlicensed lender and that was never disclosed to me ... compliance is saying we dont do those type of loans can you give me more info, XXXX reaches out the next day. If you dont want to work with me in the future dont call my Corp office. What I did was legal, the only person who needed to be licensed was. I was never disclosed XXXX wasnt licensed. He gives a work address, to an investment company XXXX father owns, and I deposit my loan payments directly into his account. And I am told by XXXX all along its not a trid compliant loan, as of XXXX all lenders in Nevada need to register or license with the state, he did not ... the state asked me to forward all closing documents, as I did. I believe XXXX is a fraud and knowingly stuck me into a loan I would never be able to get out of so he, his father, father employee and childhood friend could financially prosper from my inability to meet the payoff in 1 year and they could foreclosure with all my repairs done and over XXXX equity of cash I put down. 
Im terrified to pay off any of the balance as I am afraid that hes going to not release the lien, which is illegal for him to be on. 
Can you please contact the hard money complainace person at the state MLD in NV and work with them to get to a solution for me withnout me loosing the money I put down. Im disababled currently, although I do hold a active real estate broker license. I feel XXXX XXXX with XXXX XXXX mortgage or whatever his company is called has totally taken my kindness as stupidity and has used predatory tactics to set me up for his financial gain.

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