Consumer complaint received 2022-06-22
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: CrossCountry Mortgage LLC (SC)

XXXX XXXX XXXX XXXXXXXX  working with buyers who came pre-approved from Cross Country Mortgage. My buyers went under contract on a property, shortly after we received a phone call stating that loan officers license in SC was not active at this time and we were passed to XXXX XXXX with CrossCountry in XXXX. Our process continued as it should, a few days prior to closing things went extremely south. We received notice on XX/XX/XXXX that the loan was moved to underwriting, the following week to received notice the loan was approved with conditions, the buyer needed to obtain something from the courthouse. The process continues, we learn their condo team flagged the unit as a condotel based off things written within the appraisal report from the appraiser CrossCountry hired. My buyers were quoted a different program, with a higher interest. After talking with them, they agreed to the new program. At this point XXXX disclosed new interest rates but never mentioned raising their down payment from 20 % to 30 %. After my clients finding out, they still wanted to continue moving forward. My clients had questions for the loan officer, questions Im not educated enough as a Realtor to answer. My clients were then told to chill by XXXX because she was at a conference in XXXX. Fine, we move past it. Friday  XX/XX/XXXX, I receive a call from XXXX stating their loan was denied because of the HOA budget reserve being under 10 %. I email the listing agent to let him know and ask for an extension to give my clients time to get a new lender. The listing agent lets me know that the budget is actually 14 % and not the 6.97 % XXXX quoted. At this point, myself and my clients have heard from XXXX multiple times she isnt making anything on the loan and suggests we find a new lender. ( 5 days before closing ). XXXX herself called the listing agent after she was called out for her inaccurate information and said she will try and do everything she can to close Friday. ( I also have this on an email from XXXX ) up until this point the only denial reason was the HOA Budget Reserve % in which we proved its sufficient for her requirement. Both realtors contact the closing attorneys to move the closing to Friday XX/XX/XXXX, which is the day XXXX herself gave the listing agent on Monday XX/XX/XXXX. Tuesday XX/XX/XXXX, my clients reached out multiple times via text message to ask if she had the loan docs ready to sign so we can try and get back on track, multiple times XXXX said she was working on it and she was shooting for Friday closing.I have text messages between myself and XXXX after the discovery of her denial reason being inaccurate that state Waitsurely you dont want us to continue at this point.. Tuesday around XXXX we receive another email from XXXX with a new list of reasons she cant process their loan, ALL of which were never mentioned previously. All of these reasons just happened to pop up a few days prior to closing after my client got conditionally approved. XXXX showed extreme unprofessionalism and CrossCountry should be appalled for having her employed as a branch manager. It was clear she did not want to close this loan, which is why she mentioned multiple times shes not making anything on the loan, and prying multiple times to get us to switch lenders. My clients paid off a {$38000.00} car at the instruction of CrossCountry, we also had to go out of contract because we were supposed to close today XX/XX/XXXX and she promised Friday XX/XX/XXXX we could close which cost my clients their earnest money deposit. My clients are out thousands of dollars over this, and something needs to be made right. Myself and my clients have emails and text messages involving XXXX to support all accusations in this email. CrossCountry needs to step up and take accountability for this series of events since CrossCountry allows extremely unprofessional and rude branch managers like XXXX XXXX.