Consumer complaint received 2022-05-16
Product: Mortgage — Other type of mortgage
Issue: Closing on a mortgage — 
Company: Fairway Independent Mortgage Corporation (MO)

XX/XX/22 contacted XXXX XXXX for a renovation loan + home purchase in one loan. I provided accurate information about purchase price, reno budget, income, credit scores, down payment, etc. She assured me she could help and quoted us a 4.75 % interest rate with a 30-45 day close bc I insisted we would like to close quickly as the rates will be going up and we are in line with our contractor. My husband and I completed the required financial documents and were quickly approved for the loan amount. She requested the renovation bid from us and we provided that to her. She sent us a our loan estimate and I contacted her to review with her and she walked us through the entire document and assured us that this is very accurate and almost identical to the final papers we would be signing at closing. The interest rate was slightly higher, and did have points we were supposed to pay, but my husband and I did sign and agree to all of her terms. We later found out that she never locked our interest rate, even after repeated requests made by myself, my husband, and even our realtor. She did eventually agree to honor the interest rate we signed on, but has since sent us multiple new disclosures ( at least 4 ) trying to get us to agree to borrow more money than we need ( anywhere from $ XXXX {$84000.00} more ) which we are not interested in doing. Closing costs vary {$8300.00}. Estimated cash to close varies {$22000.00}. Home price, reno budget, nothing has changed on our end. She has recalled several emails, we believe in an attempt to cover some of her lies. We were set to close on XX/XX/22. I found out XX/XX/22 we were not going to be closing because we would not sign a new disclosure agreeing to borrow more money than we needed. She also told us that she never ordered the appraisal. She did finally order an appraisal on XX/XX/22 and that was successfully completed and returned to her on XX/XX/22. My husband and I have met with an attorney and have been advised that we have a signed agreement in place and that this is the old bait and switch and they are just trying to get more money from us. We should not be required to borrow or sign a new agreement. After making several requests to speak with a manager and/or supervisor, on or about XX/XX/22 XXXX XXXX did bring in a third person she said was her manager. This person denies being her boss or manager. Unfortunately after a three way call I have not heard back from him. On XX/XX/22 I had a XXXX minute conference call with XXXX XXXX, myself, and Fairways Corporate Counsel, XXXX XXXX. A representative from the renovation department at Fairway came on the call briefly to confirm a few things, as well as our contractor. The lawyer and XXXX XXXX spent an hour trying to convince me this was the final and accurate document. Towards the end of the call I was able to prove to everyone that there was in additional very large and unaccounted charge. The call ended abruptly and everyone hung up on me immediately. Fairways attorney never attempted to reach back out to me to further acknowledge and/or remedy their errors. Several hours later I was sent new documents again. XXXX XXXX sent two texts informing me that we had to sign by XXXX the next day. The amount of errors, threats, lies, and attempts to get more money than necessary out of us is unacceptable. We have provided true and accurate numbers to Fairway in a very timely manner, as requested, throughout this process. Fairway appears to be using very predatory lending practices and attempting to take advantage of their customers. My husband and I have worked and waited so long for this house and believe they are fully taking advantage of us. We fear we will lose our dream home at this point.