Consumer complaint received 2022-07-14
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: CrossCountry Mortgage LLC (FL)

I began working with Cross Country and my realtor in XX/XX/2022. I communicated that my maximum for a monthly mortgage was {$3000.00}. 
Prior to placing an offer, I asked Cross Country to provide an estimate of what the monthly mortgage would be. Generally, the initial estimate was similar to what I later received from the mortgage company once the offer was accepted and the property was under contract. For example, for the first property in XX/XX/2022, he provided an initial estimated monthly payment of {$3000.00}. When I received the estimated mortgage after the property was under contract, it was {$2900.00}. I paid for the inspection and appraisal, but unfortunately, I had to cancel that contract due to an appraisal issue. 
We continued this same practice of me sending him addresses and requesting estimated monthly mortgage payments. I would send an address, and he would provide me with an initial estimate of the monthly mortgage before I looked at property. This occurred throughout XX/XX/2022. 
I also made an offer that was accepted at the end of XX/XX/2022, but elected to cancel that contract ( even after paying for the inspection and fees ). 
On XX/XX/2022, in similar fashion I contacted Cross Country and asked him to provide an estimated amount of mortgage payments for two properties, one of which was XXXX XXXX XXXX XXXX, which was listed for {$380000.00}. He responded that this particular propertys estimated monthly mortgage would be around {$2700.00} ( with approximately $ XXXX to close ). 
I wanted a draft offer prepared on this property for {$380000.00}. I later attended the open house for the property on XX/XX/2022. 
After I attended the property, the offer was submitted to the sellers. 
On XX/XX/2022, I spoke with Cross Country and my realtor on the phone about increasing the contract price from {$380000.00} to {$400000.00}. During the call, my realtor asked Cross Country what the estimated monthly mortgage would be as a result of the increase. Cross Country stated that it would be about {$2900.00}. 
I increased the offered amount to {$400000.00} and re-submitted my offer, which was accepted. 
On XX/XX/2022, I paid for the inspection ( {$400.00} ) and appraisal ( {$750.00} ). In addition, I provided additional documentation to Cross Country for a loan estimate/application. 
I also received the loan estimate. 
On XX/XX/2022, I contacted Cross Country and asked about the estimated monthly mortgage amount on the disclosure provided on XX/XX/XXXX, which was {$3200.00}. He responded via email and noted that he was negotiating with the underwriters about the taxes. I told him that I did not understand what that meant, so he later called me to discuss it. 
During the discussion, Cross Country indicated that he estimated taxes to be around $ XXXX for the {$2900.00} estimate he verbally provided to me. However, the underwriters were estimating taxes to be for $ XXXX per the XXXX XXXX XXXX website, and that was the amount on the Load Estimate Document. 
On XX/XX/2022, I again noted my concern with the estimated monthly mortgage amount, which was way over my budget. I asked Cross Country both via email and during phone conversations for an explanation of the initial {$2700.00} estimate that he gave me. Cross Country never addressed those questions. I therefore signed and submitted the cancellation of the contract for the property on XX/XX/XXXX. 
On XX/XX/2022, Cross Country called me to provide information indicating that he had been able to negotiate with the underwriters to reduce the estimated taxes, resulting in a reduced estimated monthly mortgage of {$3100.00}. I never received an updated loan estimate in writing indicating this was, in fact, the case. 
Because of the constant back and forth and my frustration with trying to understand the big difference in various estimates, I told my realtor I wanted to cancel the contract, again, on XX/XX/XXXX. 
XXXX email I noted my frustration with Cross Country and the process of gathering information. He responded indicating that he told me from the beginning the issue with getting an accurate estimate for the taxes on the property and negotiating with the underwriter. I then outlined that the nearly $ 600 monthly difference in the numbers that he had given me were never explained by him, and therefore, I believed he did not provide a good faith estimate ( meaning the initial {$2700.00} was not a reasonable estimate for the property from the start ). He responded and said he never told me that the monthly estimate would be {$2700.00}. But on XX/XX/2022 he clearly wrote in an email that the estimated amount would be {$2700.00} for XXXX. 
I am submitting this complaint because Cross Country provided a false and unreasonable initial estimate of {$2700.00} before the offer was extended in an effort to get me locked into a contract. Even when I raised my concern with the amount and wanted to cancel, he said that I had already paid for another inspection and appraisal, would waste my money again, and I could afford it given my debt to income ratio. I never would have considered this property or paid for the inspection and appraisal if he had provided a reasonable estimate, which I believed he had done in XXXX and XXXX with other properties. Prior differences in estimates were {$70.00} or so per month, not nearly {$600.00} per month. 
He also claimed that he had these negotiations, but provided no updated loan estimates to support what he was saying. And the culmination of the deception was him denying that he ever told me that the estimated monthly amount would be {$2700.00} for this particular property, XXXX XXXX XXXX in XXXX XXXX, FL. 
As a result of this unscrupulous behavior, I am seeking a refund from Cross Country Mortgage in the amount of {$1100.00}, the cost of the inspection and appraisal that I paid for property XXXX XXXX XXXX XXXX. I would not be out {$1100.00} if it had not been for the completely unreasonable and false information that was given to me. Fortunately, I did not enter into a mortgage with this Company, but I still lost money as a result of this behavior. 
I will note I am not asserting that the {$3200.00} amount is inaccurate. I am saying that the {$2700.00} ( and even the later {$2900.00} ) amounts were false, which led me to submitting a contract and paying these two specific fees.