Consumer complaint received 2018-03-10
Product: Mortgage — FHA mortgage
Issue: Closing on a mortgage — 
Company: American Financial Network Inc. (TN)

On XX/XX/XXXX I worked with American Financial Network to obtain an FHA loan. We locked a rate on XX/XX/XXXX of 5.25 %. I paid {$570.00} for an appraisal with my debit card. 

On XX/XX/XXXX I was instructed by American Financial Network to have my employer send a gift letter for the {$8500.00} I was gifted. 

On XX/XX/XXXX, I was instructed by American Financial Network to have my employer rewrite the gift letter because it was on my employer 's letterhead and the lender did not want it on letterhead. 

On XX/XX/XXXX The lender requested a letter of recommendation from my employer stating that the gift was indeed a gift and why I received the gift from my employer. 

On XX/XX/XXXX I was told that we would need a structural engineer to go look at the house since the appraiser noted something about the foundation. 

On XX/XX/XXXX I was told by American Financial Network that they needed a new letter from my employer removing the recommendation and other positive information about me as an employer and just to state the gift was for the purchase of my primary residence. This was already stated in the initial gift letter given to them on XX/XX/XXXX and the rewritten one on  XX/XX/XXXX. 

On XX/XX/XXXX I was sent and returned an initial closing disclosure to sign from American Financial Network. 

On XX/XX/XXXX my closing was delayed by American Financial Network for a final  appraisal after the home had some of the structural engineer 's recommendations done. I paid {$200.00} with my debit card for the reappraisal. 

On XX/XX/XXXX I was given instructions by American Financial Network that we were cleared to close on XX/XX/XXXX at XXXX XXXX On XX/XX/XXXX at XXXX XXXX I arrived with my family at XXXX XXXX to close on our house. We waited until XXXX XXXX to receive the closing documents from American Financial Network. The title company gave me a refund of {$720.00} for the funds I paid for the initial appraisal and reappraisal. We signed the closing documents, shook hands, received the home keys and left, assuming everything was complete. 

On XX/XX/XXXX, XXXX XXXX, Closing/Funding Manager, with American Financial Network, contacts XXXX XXXX at XXXX XXXX. She states to XXXX XXXX, " We were unaware that the gift came from the employer and FHA guideline state the borrower can not have the cash back ''. XXXX XXXX from the title company calls me and I tell her that I paid for the appraisals out of my own pocket. XXXX XXXX reiterates that back to XXXX XXXX. My loan officer calls me and tells me that XXXX XXXX and the underwriter had changed my closing disclosure just before closing and that I was to receive more than just the {$720.00} I was given.They had removed from my closing disclosure the {$6000.00} the seller agreed to pay for closing cost. 

On XX/XX/XXXX, XXXX XXXX with American Financial Network emails a revised closing disclosure to XXXX reflecting the {$6000.00} that I was entitled to and that I should have received {$2600.00} at closing. Per XXXX XXXX email : Attached is the revised cd reflecting the borrower receiving {$2600.00}. " please have this executed and return to the borrower the difference of the {$2600.00} minus the {$720.00} already given. '' Since XX/XX/XXXX I have not had any updates nor a return of the remaining {$2600.00}.