Consumer complaint received 2015-12-18
Company: Finance of America Mortgage LLC
State: GA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Settlement process and costs

Complaint:
I began the process of refinancing XXXX of my properties with XXXX XXXX on XX/XX/2015. I signed and agreed to a 2.99 % interest rate, fixed, 0 points and a {$480.00} lender credit at closing. My rate lock date was XX/XX/2015. Due to circumstances beyond my control, the underwriter continued to delay the closing such that my rate lock period expired. On XX/XX/2015 XXXX sent me a new rate lock agreement. On this new agreement they added points ( 0.125 % or {$240.00} ) and took away my lender credit of {$480.00}. My husband and I declined to sign this agreement and asked that XXXX honor their original obligation to us as we signed on XX/XX/2015. 

The delay in closing supposedly was due to the underwriter having a problem with my husband and I refinancing another property at the same time. I explained to them that the other refinance was simply improving the terms of existing debt and involved no new debt. The underwriter supposedly insisted that the refinance with XXXX Mortgage had to close on the same day as the refinance with XXXX XXXX. They would not agree to close sooner even though my husband and I have been willing to close at any point and could have easily closed by the original rate lock date. I asked XXXX XXXX if they could give me an earlier closing date but they told me XX/XX/2015 was their earliest. I made XXXX aware of this. As a result of the underwriter refusing to close on any date other than the date of the XXXX refiance closing, the rate lock date expired. 

Of note, the next rate lock date sent to me by XXXX XXXX was XX/XX/2015 even though they had already told me that I would have to close on the same day as the XXXX refinance XX/XX/2015. 

I communicated with XXXX XXXX XXXX by email and expressed to her that XXXX should pick up any costs associated with the delay or ask the underwriter to pick up the costs but that my husband and I should not be responsible for additional costs as we were not in control of the closing date. 

She indicated to me that she would discuss with management. After I continued to ask her for a corrected rate lock agreement and loan estimate paperwork she finally gave me information which revealed that they were offering me even higher points ( .375 or {$720.00} ) on my 2.99 % interest and no lender credit of {$480.00}. So now, my additional closing costs have been increased to {$1200.00}. 

This is wrong on every level. It is morally wrong. It is likely illegal. I ca n't believe that consumers can be charged fees for delayed closings when they have no control over the closing date. My husband and I provided timely provision of their documents requests, signatures, etc. The closing was delayed by the underwriters because of their concern about another refinance which added no additional debt to our situation. XXXX in now trying to " close my case ''. I do n't want to close my case. I want to close the refinance loan upon the original terms. They refuse to do the right thing and seem to be enjoying making matters worse by continuing to make the terms of the loan worse and worse for me and my husband. Do I have any recourse or protection as a consumer?

Company response to consumer: Closed with explanation