Consumer complaint received 2015-08-24
Product: Mortgage — FHA mortgage
Issue: Application, originator, mortgage broker — 
Company: STONEGATE MORTGAGE CORPORATION (OH)

My original mortgage was with Stonegate. In late XXXX I began working on a refinance with another lender through a broker I knew. Once the payoff request was sent to Stonegate, they began contacting me multiple times a day, stating that they could beat any offer I had from another lender, and that their process would be faster because I was an existing customer. After the other lender parted ways with the broker I knew, I decided to go with Stonegage. I began the process of refinancing my mortgage with them on XXXX XXXX. That day I spoke with a Mortgage Advisor named XXXX. We discussed my wish to lower my PMI and to come away from the closing with extra cash if possible. I was told that the best option for me was a " full doc '' FHA refinance, which would lower my monthly payment from {$1100.00} to {$1100.00} ( this DID NOT beat the offer I had from the other lender ). I would be able to get back a maximum of {$500.00} from the closing, which would be made possible by rolling over my escrow balance. I would also be able to skip XXXX months mortgage payments. I was satisfied with these numbers, and later that day I was contacted by a Transaction Coordinator named XXXX who sent me a list of documents to gather and disclosures to sign. I expressed concern over the good faith estimate showing over {$6000.00} in settlement charges and was told by XXXX " I am going to make it so you do n't have to bring any cash to close, especially after we transfer over your escrow balance. '' I returned all the required documents to XXXX the following morning, XXXX XXXX. I never received any acknowledgement of receipt or any further instruction. On XXXX XXXX XXXX called me again. It was clear that no progress had been made, and we basically had a repeat of our conversation from the XXXX. This time, XXXX said I would only skip XXXX month 's payment, but that my escrow balance would be refunded to me. When I reminded her that we had discussed transferring my escrow balance and that I had signed an authorization for this, she brushed it off. After again hearing nothing, I contacted a supervisor named XXXX on XXXX XXXX. He informed me that a mistake had been made but that an appraisal had now been ordered. After the appraisal was returned, I was finally assigned to a loan processor named XXXX on XXXX XXXX. XXXX informed me that I would need to bring {$1900.00} to closing as well as pay my XXXX payment. After insisting this was unacceptable, she came back and told me they had " found '' {$800.00} in credits for me, and I would only need {$1100.00} for closing. I could pay this cost in lieu of making my XXXX payment. I agreed, but expressed frustration about the change from my initial conversation with XXXX. She came back again and told me they could raise the loan amount and now I would actually receive a credit of {$350.00} at closing. On XXXX XXXX I was sent a HUD agreement detailing a monthly payment of {$1000.00}. At this time I was told that my homeowners insurance would need to be paid for out of closing costs since my escrow was being applied to the loan balance, so I would now owe {$160.00} at closing. The next day this changed to {$180.00}, and I was informed that my monthly payment would be {$1100.00}. I was told the HUD was incorrect and she did n't know why. On XXXX XXXX, the notary came to my home for the signing. At this time I learned that my monthly payment is in fact {$1000.00}. After examining, I found that my insurance was no longer included in the monthly escrow, despite it having been included in the breakdown sent to me by XXXX on the XXXX. I am fed up with the inconsistency. I am stretched financially and can not afford to prolong this process any further, forcing me to put up with this atrocious customer service. Every step of the way I have been met with a lack of urgency and complete disregard for details.