Consumer complaint received 2023-06-07
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: REGIONS FINANCIAL CORPORATION (GA)

In XXXX of XXXX, we locked in a mortgage rate with Regions Mortgage. The mortgage lender made no mention that we were going to have to deposit {$100000.00} to have the rate we locked in. During the entire process, the Regions Mortgage lender, XXXX XXXX was not being transparent and lost a good amount of personal information provided to him and his assistant. Please note, all personal information requested from us was provided with 24 hours. 

We did not even receive the XXXX XXXX XXXX. My husband is the only one that received any information via Regions system throughout the process. When I requested the information be sent to me too, nothing changed. 

We were not informed about having to deposit the {$100000.00} until a week before closing. When my husband and I set up the checking account, Regions made the account joint. The very next day after the account was opened and all account information was provide to us, I received a call from XXXX XXXX saying I could not be on the account and that I had to remove my name within 48 hours or else. XXXX declined to provide any details or send an adverse action letter to explain anything. 

As mentioned, throughout the process, the mortgage lender and his assistant continued to lose sensitive information and I still don't know if it is secure. Plus, I still have not received an adverse action letter. Its been almost 60 days since XXXX XXXX told me I had to remove myself from the account. 

To make matters worse, the Mortgage Lender consistently provided incorrect information about how much we would need to bring to closing. When we received the Closing Statement 3 days before closing, it was wrong and did not align with anything discussed between us and the mortgage lender. When I brought this to the attention of the Mortgage Lender, XXXX XXXX he told me I had to sign it or we would not close on time. Keep in mind, Regions had to extend the rate lock because they continued to delay closing, so now we had no choice but to sign an incorrect closing statement to be able to close on time with the rate we needed. The final closing statement was not even provided until 45 minutes into the closing. 

The Mortgage Lender said we could close in two weeks from the beginning of the process. He then said we could close in 60 days. He then had to extend and forced us to sign an incorrect Closing Statement by threatening us that we would not close and they could not extend. Keep in mind, we provided all personal information requested within 24 hours of each request. Delays were solely on Regions. 

The Mortgage Lender told us in the beginning of the process that closing funds ( in addition to closing cost ) would be {$0.00}. They ended up being around {$60000.00} and {$22000.00} was not even disclosed until the night before closing. 

Regions refused to accept payments made to the builder even when my other banks were telling Regions my information provided was official. XXXX even spoke to a representative at the bank. The other bank provided a signed official letter, but Regions would not accept it. The other bank stated they used this method for all consumers when they to certify information and Regions still would not accept it. This resulted in us having to bring {$35000.00} more to the closing table than necessary. Again, {$22000.00} of it was not even disclosed until the night before closing. Had we known ahead of time, iit may not had been a problem. However, XXXX XXXX misleading us through the process caused us a lot of stress and list interest. 

We received a call from XXXX XXXX XXXX after providing a bad review. XXXX took the same information from us and has done nothing. Weve left her three messages, but she hasnt bothered to return our call.