Consumer complaint received 2021-02-14
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: Home Mortgage Alliance Corp. (HMAC) (CA)

I started my home loan refinance with HMAC on XX/XX/XXXX. I started the application with XXXX XXXX. She took the loan application and negotiated the loan with me. I provided all information for the application including the information of an open HELOC but no money are owed on the HELOC. She assured me that this will not be a problem to close the refinance. 

After XXXX XXXX negotiated the loan with me ( couple weeks after the application ) I was introduced to a new loan officer, XXXX XXXX. I thought this was strange since I already was under the impression that XXXX XXXX was my loan officer. That was the time when I checked XXXX XXXX XXXX NMLS and she does not have a current or approved license with NMLS to negotiate loans. I have emails and text documentation. 

Couple weeks later, XXXX XXXX emailed me that I do not qualify for a 20 years loan anymore and I should go to a 30 years loan. She communicated the terms with me over the email and texts ( I have complete communication ) and we agreed to move forward to a 30 years loan. XXXX XXXX mentioned that I need to pay off some of my credit cards payments and had questions regarding car loans. Everything was completed and paid immediately and provided the backup. The times of the loan end up to XX/XX/XXXX. 

This went on and on until XX/XX/XXXX. I received an email from XXXX XXXX sending the Closing Disclosure. We received the CD, very happy! We are closing!!! but something else happened. 

On XX/XX/XXXX ( 4 months later after I started my application with XXXX XXXX ), XXXX XXXX mentioned that my Debt to Ratio is too High. This was supposed to be handled at the beginning of the loan but due to the loan officer negligence, nothing was completed. XXXX XXXX mentioned that in order for the refinance home loan to close ; I would need to either close the HELOC or show more income. XXXX XXXX advised me to close the HELOC in order to qualify for the refinance of the loan and after we close, to reopen a new HELOC. Wasn't this supposed to handled by my loan officer? 

I was very confused at this point ; XXXX XXXX is not a licensed mortgage loan officer but she negotiated my loan with me. I only spoke on the phone with XXXX XXXX once, once when XXXX XXXX connected us both and we talked for 2 minutes. All communication was from XXXX XXXX and XXXX XXXX was just copied to the email. 

I decided to add my wife 's income in order to lower our Debt to Ratio and close the refinance loan. On XX/XX/XXXX, I provided my wife 's income from XXXX, again to XXXX XXXX. The following day, XX/XX/XXXX, I checked with XXXX XXXX if the documents were received and I quote " We have entered the information and sent to underwriter. On XX/XX/XXXX, my wife and I receive an email from XXXX XXXXXXXX at XXXX  with the Loan Disclosures. In the same evening, all documents were sent back with completed signatures. We have not heard anything until the morning of XX/XX/XXXX, when my wife called the corporate office. My wife called the office and inquired about our loan, we find out there is no loan open on our name. The Loan Processor emailed her requesting for additional documents, like ( copy of DL and SS ) in order for the loan to go at underwriting. What do you mean by send to underwriter???? XXXX XXXX mentioned on XX/XX/XXXX that all documents were received and information was sent to underwriter. 

Due to a very unethical professionalism and miss communication of my unlicensed mortgage loan officer XXXX XXXX, I had to pull my refinance loan application from HMAC ( after a 5 months process ). I was not able to trust my loan officer since I only communicated with XXXX XXXX and she was misleading my wife and I on the process of the loan. She was very unprofessional and hope for no other family to go through this.