Consumer complaint received 2017-05-10
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: PARAMOUNT RESIDENTIAL MORTGAGE GROUP (FL)

I signed a contract to purchase a home on  XXXX   XXXX  and contacted a broker I have worked with in the past,  XXXX   XXXX . When I worked with him prior he was with a different company, he is now with PRMG, and that is who I closed my loan with. The process started on  XXXX   XXXX , I was assured it would be a 30 day or less process and that the closing date of  XXXX   XXXX  would be no problem. Not only did I not close on the  XXXX , I ultimately did n't close until  XXXX   XXXX . I was told the broker had many options as far as mortgage rates go and that I would get the best rate. Granted rates were a little higher when I started the process but I was told if things changed it would be addressed. Long story short, I was  given one exc use after the other as to why the loan was n't closing. I was also told I needed to pay 2.72 % to buy down the interest rate down and I was very concerned about this as I have never paid anything to buy a rate down on any mortgage I have ever taken out.  XXXX  said he would help me out and give me an approximate {$5000.00} credit at closing to help cover some of the cost. He did not, there was only a {$120.00} credit on the day of closing. I asked about rates and if they were to drop, mainly because I had contacted  XXXX   XXXX   XXXX   XXXX  because I am a member and they were actually offering a better rate with no fees and if rates dropped I would get the better rate but  XXXX  said they would never be able to close by the  XXXX  and that they do n't know how to handle complex loans. Well considering  XXXX  had  one e xcuse after the other as to why my loan was n't closing on the  XXXX , in addition my rate lock expired on the  XXXX  and rates had gone down substantially. I have asked for documentation to show in writing the rate and why I did n't get the better rate but have received nothing. I also do n't have a signed copy of the loan estimate documents. During the final days of closing I requested th e CD,  which I was provided on  XXXX   XXXX , but  XXXX  said it was not in any way accurate but that he would get me the correc ted one s hortly. I DID NOT GET THE FINAL CD UNTIL I WAS DRIVING TO MY CLOSING ON THE  XXXX . I was so   XXXX   and upset that I truly did n't even know the final numbers and only got them when I sat down at the closing table and the office was closing soon so I felt totally pressured and could n't dispute anything. I questioned the numbers but once again, I, other than violating the contract and losing my {$20000.00} had no options. Interest rates were below the rate I paid over {$7000.00} to buy down at that point, almost .25 %!!! And that was PAR, buying nothing down. I would have canceled the whole thing and worked out a solution with a broker that was actually looking out for my best interest. Not only did  XXXX  charge me all kinds of fees I would n't have had to pay over {$7000.00} to buy a rate down that is going to cost me multiple thousands of dollars over the life of the loan and should have been locked in at the better rate after the expiration of my rate lock.