Consumer complaint received 2022-03-17
Product: Mortgage — Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: City First Mortgage Services, LLC. (TX)

I started the process of doing a Cash-Out Refinance on XX/XX/XXXX with XXXX XXXX XXXX for the primary purpose of getting out of a balloon payment mortgage structure that I was currently in. The original loan officer, XXXX XXXX, then assigned another loan officer, XXXX XXXX, to work my loan so that in his words, could streamline the process to get me to the finish line as quickly as possible. 

Fast forward 7 months later, XX/XX/XXXX. I reached out to XXXX XXXX and explained that this process has taken way too long and that XXXX XXXX was no longer returning my calls or text messages. XXXX states that he was glad to hear from me because he had just become a broker and he would have better programs than ever before. The new company he worked for was City1st Mortgage. He asked me to complete another application with this company and he also reached out to XXXX XXXX for my file but his calls or requests went unanswered as well. 

I was expressing my disapproval with the current process and situation I was in because now my credit report was hit twice and I have to pay for another appraisal because City1st was not going to accept XXXX Financials ' appraisal. 

XXXX XXXX was working a deal for a 3.5 % interest rate and I asked on XX/XX/XXXX if I could buy that percentage down closer to 3 %. He stated at that time that rates on cash-out refinance loans are a little different and that the money I would use to try to buy down could be better used to pay off debt. It sounded like it made sense. 

On XX/XX/XXXX, I was told by XXXX XXXX that my loan is classified as high risk which means my rate may be higher that earlier anticipated but he saw where my paycheck had a car allowance on there so he was going to do the numbers. He said that either way, we still had a good loan. XX/XX/XXXX, title company wants me to purchase some certificate from my HOA. It cost me about {$400.00}. 

I am now scheduled to close on Friday XX/XX/XXXX. Then moved from Friday to Monday, XX/XX/XXXX. I had to jump through more hoops and write additional letters. Basically, I was doing everything I needed to do to close. This process for me was almost going on 8 months. On XX/XX/XXXX they pulled another credit report. That's the 3rd time now and stated I was to close on Friday, XX/XX/XXXX. 

Friday came and went and they told me there were more delays from the title company and that they were waiting on my taxes to be paid. I explained that XXXX was coming up and I should have originally closed before XXXX. Now my closing date was set for XX/XX/XXXX then the title company said no because the county did not update their website to reflect if my previous mortgage company paid my taxes. I called for 2 weeks to get an answer from the county and they kept verifying that my taxes were paid but for whatever reason, the website was not updated to reflect as such. 

Now it's XX/XX/XXXX. Nearly 10 months in this process. My wife and I had a timeshare that we purchased for the new year and it was not scheduled to come out until the end of XXXX. I should have closed 3 months ago and I discussed this with XXXX and he said we should be ok to close before it pops up on your credit report. XXXX stated that I may be closing Friday, XX/XX/XXXX. 

Friday the XXXX came and still no closing. I explained to XXXX XXXX that I was afraid that if they ran another credit report that not only will this be the 4th hit but that the timeshare account might come up because it was already on my wife 's credit report. Now I'm being told Monday the XXXX for closing. Then I received a text from XXXX XXXX that I needed to bring a Cashiers check for {XXXX} payable to XXXX XXXX. He said I was overpaying but that I will get refunds from my other debtors. He said I was over paying my payoffs through XXXX. 

I am finally at the closing table on XX/XX/XXXX with my wife and we notice that one of the documents states that I bought down my interest rate 0.75 % at {$2000.00}. I told XXXX XXXX I thought you stated I couldn't do that and to use the money towards paying off my debt? He stated, that yes I bought half a point or something like that. He said the new investor, XXXX XXXX charged that. I explained to him that I was not comfortable with the behind the scenes stuff and that he should have been more transparent. He initially said it was not worth spending money to buy it down and then he does it and I get charged for it. He then said that he apologized for the confusion and that he would pay back the cost of buying the interest down from his own personal commission. So I agreed and signed the paperwork on his word. 

Approximately 4 days later, I get served with child support from my ex wife so I definitely needed the money back from him. He XXXX  me the money however, I felt like the entire time my loan was being forced through and there was some under handed things going on behind the scenes that I was not privy to which kept me having to jump through hoops. So my loan was eventually picked up by XXXX. 

I have been paying XXXX for almost a year now until last month, I started receiving phone calls and text messages from XXXX XXXX saying that XXXX was trying to make City1st buy back the loan because apparently XXXX XXXX  or someone discovered the timeshare and it changed my XXXX. I have been paying XXXX on time with no issues or lates and I felt that if there was a problem with my loan that it would come from them. I was harassed and threatened to be foreclosed on by City1st because they stated I fraudulently signed paperwork that stated I had no additional debt. I told them that XXXX XXXX knew everything that was going on ( I have text messages from our interactions ) and still pushed my loan through and now he called trying to get my to refinance to another company, get a co-signer or sell my house. This has torn up my family financially. My wife was pregnant at the time. She ended up losing her job and I was the only one working. I still paid all of my bills on time but to now have to deal with this stress is unbearable. I called XXXX and told them that City1st was harassing me and they notated my account and assured me that nothing was wrong with my loan and that it was in perfect standing. A month later, I get a letter from XXXX stating that City1st has bought back my loan and it will be in their possession as of XX/XX/XXXX. 

I'm not sure what to do. The stress and financial strain this has put on my family has made my wife move out and we are contemplating divorce. I do not want to lose my house or not be able to support my children. I have been in my house for 17 years. I have tried to refinance with XXXX XXXX  and now with my financial situation rapidly changing, I can not qualify because of my XXXX. I do not want City1st to take possession of my loan. I do not trust them and it was a horrible experience. I am a First Responder and I do not want to be XXXX