Consumer complaint received 2022-06-01
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: INTERCONTINENTAL CAPITAL GROUP (PA)

Due to XXXX  instability and consistently laying off employees, they are no longer honoring the rate which was agreed upon. The fact that I emailed them on XX/XX/XXXX that I was concerned and worried about their instability and that I had other locked rates from other companies, is really concerning. I decided to stay with XXXX and because of me sticking with them I can no longer refinance my mortgage? It just makes me so sad that I trusted in them, instead of simply choosing the better rate I was offered in XXXX from other companies, I stayed with XXXX. I will be losing thousands of dollars every month without the refinance which we agreed upon. I have spent months sending them my personal information, so many documents filled out, paid over {$500.00} for an appraisal, and now because of them firing loan officers/employees, they can no longer honor the locked rate which we agreed to? 7 different loan officers from XXXX have been my loan officer, it is not normal. There was zero communication from XXXX for over a month, I had to search and search for someone to speak with. I dont believe this to be ethical. I am concerned and disappointed. It seems manipulative to update the terms to our agreement on XX/XX/XXXX in order to keep me from going to another company, and then to say in XX/XX/XXXX ( after no communication for over a month ) that the agreed upon rate actually expired in XX/XX/XXXX? 

Here is a visual of all the loan officers/time frame : XX/XX/XXXX XXXX XXXX mortgage loan officer NMLS : XXXX, contacted me. 
XX/XX/XXXX XXXX XXXX, mortgage loan officer NMLS : XXXX, contacted me. 
XX/XX/XXXX XXXX XXXX Loan Processor XXXX : XXXX contacted me. 
XX/XX/XXXX XXXX XXXX Mortgage Loan Officer XXXX : XXXX contacted me. 

On XX/XX/XXXX appraiser contacted me for payment. 
XX/XX/XXXX I asked for better rate/terms. 
XX/XX/XXXX, XXXX reduced points to compete with offer from other companies which we received better locked rates from. 
XX/XX/XXXX we were pressured to make a decision and scared by the higher appraisal costs that the loan officer said would keep going up. 
XX/XX/XXXX we paid the appraisal and decided to stay. 

XX/XX/XXXX XXXX XXXX Loan Processor XXXX : XXXX contacted me stating that the appraisal will be completed in a couple days. 

XX/XX/XXXX : I emailed XXXX about my concerns. 

XX/XX/XXXX I received a copy of my appraisal from XXXX XXXX. 

~ Zero communication from XXXX ~ Multiple of my emails ignored ~ In the beginning of XX/XX/XXXX I called the sales person who first contacted me to see what was happening since none of my loan officers were emailing me back. I was informed that my entire team was let go and that now my locked rate was no longer locked. The first time ever that I was informed about the rate no longer being honored was in XX/XX/XXXX after I tracked down someone from their company. 

XX/XX/XXXX XXXX XXXX Loan Processor XXXX : XXXX contacted me. 
There has been no communication since XX/XX/XXXX although I have requested that they honor the 3.75 % locked rate.