Consumer complaint received 2016-09-02
Product: Mortgage — Conventional fixed mortgage
Issue: Application, originator, mortgage broker — 
Company: TD BANK US HOLDING COMPANY (DC)

On XX/XX/2016, we have applied for a refinance loan with TD Bank, loan id XXXX. It was a bad idea. 
Several highlights of our process : 1. As a pre-requisite for this loan application, the loan officer ( LO ) told us to visit the physical branch of TD bank to obtain a form that verifies our identities. We show our ID 's to a branch employee, and that person signs the form. 
a. Thankfully, there was a branch close to where we live, but what would other people who who live hundreds of miles away from the branch? When we were submitting the loan application, nobody warned us of this requirement. 

2. When we visited the branch, the employees said they never heard of such form. We showed them our IDs and obtained a letter indicating that our identities have been verified. Nevertheless, the LO did not accept this letter and instructed us to go back. This time LO has emailed the form to TD branch. 

3. When the title company was chosen, we had to send ALL our documents AGAIN to the title company, even though TD bank already had all our documents and could share. 

4. When the closing date was scheduled, on XX/XX/XXXX LO told us that we have to visit the branch again in order to obtain the Closing Disclosure, because TD bank was " unable to send the documents in other way ''. When we reminded them that Regulation Z makes it a lender 's responsibility to deliver the documents, we received a link to an online TD bank documents system, which however did not contain a Closing Disclosure ( as of XX/XX/XXXX ). 

5. The closing date was scheduled for XX/XX/2016, at XXXX am. At XXXX the title company has informed us that they have not received all documents from TD Bank. When we contacted LO, we were told that LO was still waiting on the " verbal employment verification '' of one of the borrowers, which by LO 's interpretation was the responsibility of the borrower 's employer. We have not been notified of this requirement at any point before the closing date. When we managed to resolve this issue, the title company could proceed to closing, which happened at XXXX on XX/XX/2016. 

6. We have received our final Closing Disclosure at the closing table. There we have learned that our cash to close changed from minus XXXX dollars on the original LE to XXXX dollars on the final Closing Disclosure. Nobody has warned us about this change up until the closing date. A closer look revealed that our loan amount has decreased by XXXX dollars, which was one of the reasons for an increase in the cash to close. Other reasons included higher fees for various services, such as appraisals, etc. 

7. After the closing the title company has contacted us to tell us that TD bank did not accept our personal check for the cash to close money. They wanted a certified check or a wire transfer. When we told the title company that we did n't know about the check until the day of closing, the representative told us that they have spoken with TD bank about this earlier. The TD banks ' interpretation of Regulation Z, by the word of the title agent, did not oblige TD Bank to deliver the final closing disclosure to the borrower three days before the closing date, " as long as they provided some kind of disclosure ''. 
We ask CFPB to investigate TD Bank 's practice of complying with Regulation Z, as well as unreasonable documentation requirements imposed on borrowers ( with which we have to comply so as to avoid delay in closing or large fees if the rate lock expires ).