Consumer complaint received 2021-01-19
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: RESIDENTIAL HOME FUNDING CORP. (VA)

We contacted Residential Home Funding Wholesale based on an advertised rate on XX/XX/XXXX. I received an email quote from XXXX XXXX for a 15yr refi at 2.0 % with a {$600.00} credit. I spoke to Mr. XXXX and applied within three hours of the quote. After applying, Mr. XXXX told me the {$600.00} credit was no longer available. We didn't think that was fair, but needed to refinance and continued with the process. We applied to refinance our mortgage on XX/XX/XXXX. We have an excellent credit profile and had all of our documentation ready. 

Mr. XXXX called on XX/XX/XXXX to request additional documents. I provided those the same day. I followed up again on XX/XX/XXXX and XX/XX/XXXX. On XX/XX/XXXX we were contacted by XXXX XXXX ( Senior Processor ) and asked for more documents, most of which we had already provided. We provided those again, and the others, on the same day. I followed up with her on XX/XX/XXXX and she asked for more documents. She also confirmed that they would include the cost of the refinance in the loan amount. I provided the additional documents on XX/XX/XXXX because I had to contact our accountant first to obtain them. 

Ms. XXXX notified us on XX/XX/XXXX that our refinance application was approved and that the appraisal was waived. She asked for documents to be signed and returned within 48 hours so that our closing could be scheduled. We returned the documents the next morning XXXX XX/XX/XXXX ). 

I requested an update on XX/XX/XXXX, but did not receive a response. On XX/XX/XXXX, Ms. XXXX requested additional documents. I provided those the same day. I followed up on XX/XX/XXXX. 

On around XX/XX/XXXX, Ms. XXXX phoned to tell me that we were approved to close and that the closing would be held at an address in New Jersey on XX/XX/XXXX. I told her that we live in Virginia and that New Jersey was a long way for us to travel during COVID. She said she thought we lived in Maryland and that it wouldnt be that bad. She said she would request to move the closing closer to us or send someone to meet us somewhere. 

On XX/XX/XXXX I reached out because I still had not heard anything about our closing scheduled for XX/XX/XXXX and needed to change work schedules. We also had not received our 3-day closing packet to review. I called multiple times and received no response. 

On XX/XX/XXXX, Ms. XXXX asked if we were still using our same insurance company. I responded immediately that we were. I followed up again on XX/XX/XXXX and XX/XX/XXXX. I told Ms. XXXX and Mr. XXXX that I was concerned about the implementation of the new refinance fees. Ms. XXXX responded on the same day that those fees would not apply to us. Ms. XXXX requested additional documents, which I provided on the same day. 

I followed up again on XX/XX/XXXX, but received no response. I followed-up again on XX/XX/XXXX. I called Mr. XXXX around this date and he assured me that he was extending our rate lock at no cost to us. He told me that he would send me the contact information for a supervisor at the company so that I could ask for their help. He never provided that information. 

I reached out to Ms. XXXX and Mr. XXXX again on XX/XX/XXXX. My email to Ms. XXXX was returned as undeliverable because her account no longer existed. 

On XX/XX/XXXX, I learned that on XX/XX/XXXX, XXXX XXXX XXXX XXXX replaced my current mortgagee as the beneficiary on our homeowners insurance policy without our permission and without closing on a mortgage. 

I called Mr. XXXX on XX/XX/XXXX. I told him that I thought it was illegal for his company to replace my mortgagee as beneficiary on my homeowners insurance without closing and without my permission. He said it may be, but that it was an error. He said that he would personally reach out to a supervisor and tell me before the end of the day what documents were needed to close. He also promised again to provide the contact information for a supervisor. I never received any additional communication. 

I followed up with Mr. XXXX on XX/XX/XXXX and XX/XX/XXXX. As of XX/XX/XXXX, I have received no additional communication from anyone at Residential Home Funding Wholesale. As of today, XXXX XXXX XXXX XXXX is still the beneficiary on my homeowners insurance policy despite not having closed on a mortgage a mortgage that was approved 111 days ago. 

I can provide emails and documents to substantiate these allegations.