Consumer complaint received 2024-09-10
Product: Mortgage — FHA mortgage
Issue: Closing on a mortgage — Trying to communicate with the company to fix an issue with the loan closing
Company: CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP (FL)

To whom it may concern, I am writing to file a complaint against Cardinal Financial Company XXXX XXXX XXXX and Freedom Mortgage Corporation regarding Loan Number : XXXX, FHA case number XXXX. 

In XXXX of XXXX  my XXXX  and I went under contract with XXXX to purchase our first home in XXXX XXXX, Florida at the time we were living in North Carolina. We were approved for financing through the builder 's lender XXXX XXXX Mortgage and were told we needed to move down to Florida so my XXXX  could begin work with the company that hired him. We sold most of our belongings and moved into an XXXX in XXXX of XXXX  while we were waiting to close on our home. The original closing was supposed to be in XXXX and then it was pushed back until XX/XX/year>. We paid the builder as agreed the total down payment of XXXX percent and extended our XXXX XXXX XXXX XXXX rental until we could close on our home. XXXX came and we were told by XXXX XXXX Mortgage, after being approved XXXX times during these months, that they could not close our loan but they had referred an outside lender with XXXX XXXX XXXX XXXX XXXX XXXX that could get us closed by XX/XX/year>. XXXX XXXX mortgage transferred all of our documents to the new lender. On XX/XX/XXXX the title company, XXXX XXXX, scheduled our closing to be at our airbnb at XXXX XXXX  with just a notary present, the notary informed us they could not answer any of our questions regarding the documents as they were just there to verify our signatures. The notary did not provide us with a copy of the closing documents that were signed and we did not receive them within three days from the mortgage company either. I found out in May that the mortgage company, Cardinal, had not properly calculated our Escrow account and the mortgage went up about {$600.00} a month. This made me concerned as the original amount I had agreed to pay based on the supposed " loan '' they were providing me was affordable to us. I then called and requested from Cardinal financial a copy of all the documents I signed at closing. I received three different notes, one endorsed with a notary stamp, one endorsed with no notary stamp and one not endorsed at all. I noticed the signature on the mortgage was not my XXXX  's signature and when I questioned the company they said we had signed a limited power of attorney. I opted to do a securitization audit report on the contract because I felt like something was seriously wrong with the documents, the forgery of our signatures and questioned the validity of the documents. Once I received the full Securitization Audit Report I was heartbroken to learn that my husband and I had been taken FULL advantage of. Our contracts were not only fraudulently misrepresented to us but also converted to a stock/bond with our signatures without knowledge and under the contract the lender made themselves the beneficiary. We were not given proper disclosures, they did not disclose TILA ( Truth in lending Act ) or RESPA ( Real estate settlement procedure act ) or The Gramm-Leach-Bliley Act, FCRA including many other disclosures that we should have been given. We did not know that we were giving up our rights, agreeing to a voluntary lien and giving them ownership for something we funded with our signatures and social security trust and in turn were given a privilege to live on the property. If we would have known that the chattel paper was giving equal cash value we would have chosen to rent instead of allowing them to sell it back to us with interest in the form of a loan. We were supposed to have copies to review for XXXX days after we signed the documents and have my right to rescission which was not given. When asked about the security interest I was led to believe that a security interest is only to obtain the loan. Based on the attached Audit Report and the lenders own verbiage in the mortgage contract the Deed was supposed to be transferred into our names as the rightful owners at the time the Note was endorsed satisfying our security interest. I have done my best to communicate and provide both Cardinal Financial and now Freedom Mortgage with all of the same documents I have attached here and they have continued to be insolvent. I have continued to be harassed and threatened with foreclosure if I do not pay them what they say I owe so I sent them a negotiable instrument and they then refused to accept my negotiable instrument according to UCC 3-104. I provided both of them with the adequate documentation to provide a validation and verification of the debt and they continue to respond that they do not have to release any documentation pertaining to my requests. 

We appreciate your attention to this matter and can be contacted by phone at XXXX. 

Kindly, XXXX and XXXX XXXX