Consumer complaint received 2023-09-12
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Changes in loan terms during the application process
Company: Better Mortgage, Inc. (MA)

Dear CFPB officers, I am writing to formally submit a complaint against Better Mortgage ( Better ) concerning the loan ID : that I closed with Better last month. 

I opted for a real estate agent from XXXX XXXX XXXX XXXX XXXX ) based on XXXX 's enticing offer, promising the customer/buyer a {$2000.00} closing credit, as prominently advertised on XXXX 's website ( please refer to Exhibit 1 ). However, at the very conclusion of the closing process, Better denied me the {$2000.00} lender credit for the reasons that violated the Betters and BREs terms of service. 
The transaction complied with XXXX 's terms for receiving the {$2000.00} lender credit. 

a. I hired an agent from XXXX and I received the closing confirmation email from XXXX. See exhibit 2. 

b. The case manager, CN, affirmed that agents earning a commission exceeding 1.75 % ( as shown in Exhibit 3 ) would qualify for the full rebate. Records indicate that my agent received a commission of 2.5 % of the total transaction, well surpassing the required threshold. 

2. Better denied this {$2000.00} credit for the reasons that violates the terms of service. 

a. M ( XXXXXXXX XXXX XXXX XXXX XXXXXXXX at Better Mortgage ) and E ( Home Advisor at Better Mortgage ) contended that I had received the Better Price Guarantee, which they considered a promotion incompatible with any other offers. However, in accordance with XXXX 's terms, the {$2000.00} credit formed part of the agent 's rebate, and it was not obligatory to use Better Mortgage to qualify for this rebate ( as depicted in Exhibit 4 ). This clearly indicates that the {$2000.00} rebate is not an integral part of Better Mortgage 's services. Per XXXX XXXX and XXXX XXXX claims, I could receive the {$2000.00} rebate even if I had chosen other lenders. Thus, it is unjustified for Better Mortgage to deny me the rebate when I selected them as my lender. 

b. When I raised the XXXX terms with XXXX XXXX to question why I lost the {$2000.00} credit while simultaneously using Better Mortgage as my lender and XXXX as my agent, he mentioned that the XXXX XXXX team had confirmed that this transaction yielded no profit margin for me to receive the {$2000.00} rebate, and they retained my rebate as part of their revenue ( as shown in Exhibit 4 ). 

3. After receiving a phone call from CN ( XXXX case manager ) confirming my qualification for the {$2000.00} rebate, I expressed my dissatisfaction at not receiving the credit. She assured me that she would consult her supervisor and call me back, but regrettably, I never received her follow-up call ( refer to Exhibit 5 for phone conversation transcripts ). 
In summary, Better Mortgage failed to credit me with the {$2000.00} rebate promised by XXXX XXXX XXXX, which was an integral part of the transaction 's commission structure. This commission was earned through the agent I selected via XXXX XXXX XXXX and was not related to any service or promotion offered by the lender. I firmly believe that Better Mortgage violated the terms of service and wrongfully withheld the money that rightfully belonged to me.