Consumer complaint received 2017-09-06
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: RELIANCE FIRST CAPITAL LLC (NC)

I was called, contacted, in late XX/XX/XXXX, about re-financing my primary mortgage. I declined, as I had already tried last year, but to no avail ( bad credit due to my wife 's Chapter XXXX which was disposed of about 3 years ago ). The same mortgage agent, XXXX ( XXXX ) XXXX ( XXXX ) XXXX, called a month later, asking again, and saying that a lot of " new products '' were available. I decided to give it a try. ( I am XXXX, semi-retired, with a 14 year old mortgage, with 30 % equity, on my primary, and another mortgage ( different bank, about 7 years old with about 60 % equity in it ) on an investment property, with no problems known to me with payments on either for years ). I spent the next month sending all the necessary docs, payment stubs, all bank statements, self-employment income and access to XX/XX/XXXX and XX/XX/XXXX tax records - through a portal that my accountant supplied to her, through me, with permission. So she had everything she said she needed. 
Everything was a " go '' at 4.25 %, saving me about $ XXXX/month.  Great! 
I was then asked to pay {$500.00} for an appraisal. I balked, as I already knew that it was going to be tough ( plus I had to borrow the money ), but was assured that all due diligence was done, and there was nothing problematic with the loan. ( Many of our emails are attached - sorry about the small print - but I 've underlined the important areas ). The {$500.00} was charged to XXXX XXXX XXXX ( XXXX ) XXXX in XXXX Much to my surprise then when I was denied a loan, due to a 'late interest ' payment last year - XXXX, I believe - on my investment loan. Reason being - due to the fact that the loan was being re-done ( as it is every 3 yrs. ) and, because the bank manager was really busy at the time, she let a couple of months pass to complete it. I was never informed that there was a late interest payment, and the manager realized, and admitted, that it was all her fault. I put XXXX, the mortgage Analyst, in touch with my bank manager ( XXXX XXXX, XXXX XXXX, ( XXXX ) XXXX, XXXX ) - to sort it all out. It was out of my control, and a total surprise to me. Anyway, I got in touch with XXXX 's boss, her loan manager, XXXX XXXX - XXXX " XXXX '' XXXX, XXXX. Almost the first words out of his mouth, after we discussed the issue, were " do n't worry about the {$500.00}. I will absolutely make sure that I will return it to you - absolutely no problem '', primarily due to the fact that the due diligence had not been done properly, and I felt I had been scammed. ( The emails attached will testify to that fact ). But nothing came, even after we were all sure that it was NOT going to get done - just as I had predicted to XXXX at the get-go. They even tried to start another loan, emailing all the paperwork, which I paid no attention to, still waiting on the return of the original {$500.00}. I had even asked XXXX XXXX to send me a copy of the appraisal - but it has never arrived! I wonder if it was even done ; perhaps they were in cahoots with the appraisal firm. I felt like I had been 'played ', and am still waiting for a check, as promised. All their personal information, XXXX and XXXX 's contact numbers and email addresses are on the attached pages. It was Reliance First Capital LLC, XXXX ID XXXX, out of their XXXX, XXXX XXXX - I live in XXXX, XXXX.