Consumer complaint received 2021-06-28
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: Sovereign Lending Group, Incorporated (NC)

XXXX XXXX reached out to me on XX/XX/18 at XXXX to discuss refinancing my current mortgage. The call lasted 41 minutes. During the call, I was hesitant and said that I didn't really wish to waste my time. I stated that they had reached out in the past and that it did not make any sense for me to refinance because my rate was already low and I don't wish to pay any fees to refinance. XXXX stated that there would be no cost to me to refinance and that Sovereign Lending Group would cover the costs of closing and that there would be no cost to me. She mentioned that the only cost would be money into the reserves, which was my money and I would get the other money back from my reserves in my current mortgage. I stated that I was hesitant for her to run my credit because I worked very hard to get an XXXX score and that I did not wish to lower this if it did not make sense to refinance. She stated that there was no risk and that it would be no cost and she could get rates around 2.65 % with my credit. I eventually agreed and she rand my credit. She came back with a loan estimate of 2.99 % and Sovereign Lending was covering the closing costs as she had stated. I was agreeable to move forward and I went ahead and provided the documentation later that day so she could lock the rate. She did not lock the rate and stated that she didn't see the notification when she called me on Monday, XX/XX/XXXX. However, we discussed and she provided me with a list of additional documents so that they could move forward with the process. 

On XX/XX/XXXX, she reached out and stated that she had made an error in her previous paperwork and that I did not qualify for the no cost refinance because she didn't key in my student loans correctly. She provided a new loan estimate and the costs were significant, the total loan amount went up significantly, and the savings per month were less than {$20.00}. I stated that I would not sign the new loan estimate and that this was not what we had previously discussed when I allowed her to run my credit. I asked to speak with a supervisor. She replied that she agreed it was not what we discussed, but that I didn't qualify for the no cost refinance. I again asked to speak with her supervisor. Soon after, XXXX XXXX reached out to me. I was unable to take her call because I was at work and in a meeting, but I called back soon after. We spoke and she stated that she had reprimanded XXXX for her errors and that she is sorry this happened to me. She stated that she would work with their credit specialists to have this inquiry removed from my credit. I also asked to be compensated for my time that they wasted. She asked for me to give her until the end of the day and she would have this all worked out. She refunded my {$250.00} deposit that I had made. She did not reach out to me, so I called and left her a voicemail. I also sent her an email. She replied and stated that she realizes that she didn't call and that should would call me back. Again, she did not call me back. I emailed her that I assume her not calling two days was a sign that she had no intention to and that I would file a complaint.

I included emails with my complaint that show she acknowledges her error and that she did not do as promised on the phone. I also attached the documentation with the manager to show that she acknowledged that she did not call me back as promised. I attempted to include the loan estimates, but the initial loan estimate was removed by Sovereign Lending in the platform that I can access.