Consumer complaint received 2016-01-11
Product: Mortgage — Conventional fixed mortgage
Issue: Settlement process and costs — 
Company: EMBRACE HOME LOANS (CA)

I had been refered to XXXX XXXX with Embrace home loans in XX/XX/XXXX when I was trying to purchase a condo unit on XXXX XXXX ( XXXX XXXX XXXX ), XXXX XXXX, Ma. Because the homeowners association was in financial trouble I had a difficult time to fine a mortgage company that could lend to to. XXXX was honest and said due to the financial state Embrace would not lend to it. We continued to work to purchase other properties but none materialized to a closeing. XX/XX/XXXX another unit # XXXX became available. I spoke with XXXX in lenght regarding the concern with the finanical state of the associate and urged him to bring the condo questionaire to the underwriter to ensure they could in fact lend to the loan. Originally I was going to buy the unit as an investment but the rates were high and with XXXX 's advise I switched the loan product to a XXXX home, in XX/XX/XXXX. XXXX and I did have words over the interest rate, XXXX wanted to continue to charge me the investment interest rate instead of adjusting it to the XXXX home interest rate. After getting quotes from other lenders XXXX matche the competive rate of 4.25 % interest with XXXX % down. XXXX all along had told me it would be 10 % down and on XX/XX/XXXX XXXX supplied me with a committment letter stating such to the seller. On XX/XX/XXXX ( 4 business days prior to the close of the loan ) I recieved an email from XXXX who was upset becasue his underwriter was requesting the condo association budget. I was confused because XX/XX/XXXX I warned XXXX to notify the underwriter about the potential financial state and I assumed in the questionaire the underwriter would have requested this XX/XX/XXXX not 4 business day prior to the loan closing. XXXX later that day notified me that I now had to put down XXXX % which was roughly an extra XXXX that I was not counting on. When I asked to speak with a XXXX there was no XXXX available, a did speak with a supervisor who stated ( and I paraphrase ) " you have the money so what 's the problem. If you want the condo you have to pay the extra. '' XXXX I could not get another extention on this loan because of the short sale process and the long process we went throught with finalizing a loan product. XXXX also knew that if I did n't close on time I would not only lose the property but I would lose my $ XXXX good faith deposit. Now I do not think XXXX did this on purpose because he was just as shocked as I was on XX/XX/XXXX whent he underwriter requested the budget. But I do believe that XXXX failed to communicate properly or the underwriter therefore backing me into a corner to either lose a property I had been spending months on purpasing or having to pay out. What is even more upseting is that if they had really analyzed the documents and communicated with each other they could have discovered this problema and I could have gone with another lender. When I filed my formal compliant with XXXX XXXX, Embrace 's Compliance Officer, he stated that the underwriter did try to contact me to tell me they needed the budget. What I questioned was " Why would the underwriter contact me but never notifiy my loan XXXX XXXX that they needed the budget. and the email does prove that XXXX was shocked on XXXX to hear they were requesting the budget. I did request that XXXX XXXX furnish the prove that the underwriter was trying to notify me but til this day, XXXX XXXX has never furnished prove. XXXX XXXX offered to to refunding me the fees ( roughly {$1800.00} ), my response was, " if you want to refund me for the poor service please send the check, but if this offer is only inexchange for me not filing a complaint then know I will continue to file ''. I never heard from XXXX XXXX nor Embrace again. I 'm requesting that Embrace reimburse me the {$16000.00} additonal I had to pay due to their lack of due diligence and negligence.