Consumer complaint received 2022-03-18
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: Supreme Lending (MI)

This CFPB complaint is specifically against Supreme Lending ( XXXX  : # XXXX ), and XXXX XXXX ( XXXX  : # XXXX ). 

I entered the market to purchase my first home XXXX 2022, and chose a lender recommended by my realtor, named, XXXX XXXX ( XXXX  : # XXXX ). From start to finish, this entire process has been a nightmare, filled with deceitful business practices, steering, and negligence! 

I turned away a much better offer, from a competitor to work with XXXX, at 3.25 %, for the same program. I completed my application with Supreme Lending, and requested XXXX forward my initial disclosures, including my Loan Estimate, to review, before locking in our rate. XXXX stated in response, he was " cleaning up some things '' in my origination offer, and couldn't send disclosures right away. One red flag. 

After reviewing my disclosures for the first time, XXXX days following the completion of my application, XXXX had the same offer as my initial competitor, at 4.875 %, AND it was more expensive in closing costs. I have a XXXX XXXX, excellent credit, and the most transparent, responsive habits any lender could ask for. I did my own research, via the XXXX treasury regarding the costs of rates and KNEW his offer was not competitive. I myself am a loan XXXX, for XXXX 's sake! It gets worse.. 

I told XXXX his offer was not competitive, and asked that he work in our favor to get us a better rate and program. He told us, after we'd done our research and been approved at 4 other lenders, that we should be grateful of his efforts because our mortgage " might not even fund, so ... ''. AND the reason our offer was accepted was because HE HIMSELF called the seller 's agreement and made them accept our offer ... Not even a mere {$100.00} discount to discount on the 4.875 % to dissuade us from going back to our initial offer of 3.25 %. Stay with me.. 

I turned the cheek with XXXX, and decided I'd go shopping again, to see if I could find a better, cheaper program. Ya know, that was best suited for me, and my financial situation. I locked in with a competitor at 4.25 % in a worse market, with better closing costs, FOR THE SAME PROGRAM! 

I knew I shouldn't have gave XXXX another call, but I DEEPLY, REGRETFULLY forwarded my new competitor 's estimate to XXXX, hoping he'd compete for my business. I'd already paid for, and completed, an appraisal through Supreme Lending. XXXX 's response to me finding a better mortgage loan for myself, " I don't feel good that you're shopping me right now, and it makes me feel bad '' ... .. WHAT? A better mortgage for me, makes you feel bad? Turn in your license ... XXXX XXXX and this company could offer was 4.5 %, still with worse costs. The average rate in Michigan at this time was 4.0 %, or LOWER, when we locked, XXXX XXXX IT GETS WORSE STILL I promptly told XXXX we were moving forward with another lender for our first home purchase, and asked that Supreme Lending transfer the appraisal, and ALL of the documents necessary for the appraisal immediately, to which XXXX responded, " Wow ''. I reached out, again, asking XXXX and his team at Supreme Lending to transfer the appraisal and all documents necessary for the transfer, to which XXXX responded, " You were forwarded an appraisal. No transfer forms. Not a FHA loan. '' My new lender and I stated, in agreement, we still could not move forward without the necessary documentation that Supreme Lending was now withholding, as a result of losing my business! There were two documents an ordinary borrower WOULD HAVE NO IDEA OF! This is what we needed for the appraisal transfer : o Colored copy of the appraisal PDF Format o XML file of the appraisal o Paid Invoice o XXXX and XXXX XXXX The XXXX XXXX XXXX stated they couldn't disclose these forms directly to me, and they had to be requested from Supreme Lending ( Why is this? I paid for the appraisal, these disclosures are ours alone ). The appraisal management company also advised that I contact the site manager directly, since XXXX was not being cooperative. 

The following day, within 1 HOUR of notifying XXXX, and the CFPB, these documents were forwarded, in their ENTIRETY! This company blatantly tried to deceive, XXXX, and dissuade us from pursuing our appraisal transfer so we'd be forced to accept a far worse offer!! Stay away from companies like this, more specifically INDIVIDUAL LENDERS LIKE THIS!