Consumer complaint received 2018-10-29
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: E MORTGAGE MANAGEMENT, LLC (FL)

I began working with E Mortgage Management on XX/XX/XXXX for a mortgage. There were many delays ( the first one due to the seller, all others due to EMM 's errors, delays ). I locked in a rate with XXXX XXXX, VP of Retail Sales, in early XX/XX/XXXX. Apparently, EMM applied at least 4 rate lock extensions without ever consulting with me. I was never told about the extension, I was never told about the fee, and we did not come to an agreement about the date the extension would end. I found out about the rate lock extensions twice : XX/XX/XXXX & XX/XX/XXXX, when they sent disclosure statements. Obviously, the XX/XX/XXXX closing didn't take place ; due to EMM errors and delays. On XX/XX/XXXX, I received a change of circumstance document that stated " Rate extended. Lender credit changed from {$990.00} to {$0.00}, and an origination fee of {$990.00} appeared ; Points changed from {$0.00} to {$430.00}. '' I received those documents at XXXX XXXX on a Friday and was unable to view and sign the documents immediately because I was driving. They " rushed '' to get me the disclosure documents because we were supposed to close the following Tuesday. EMM 's delays had put me at risk of losing this home, so I was under duress to sign that day. Obviously, that Tuesday 's closing didn't take place, and after many more delays, I received another disclosure doc on XX/XX/XXXX for a XX/XX/XXXX closing. Again, under the gun to get this mortgage closed so I didn't lose the house and my deposit. I again reached out to XXXX about the fees and his response on XX/XX/XXXX at XXXX XXXX was this : " I have an email into my lock desk. You are reading my mind. I am hoping I can get this worked out today so I can have a portion of the lock extension fees refunded post-closing. I may need your help to make this happen. I will call you in a few minutes. '' He suggested I send an email complaint to him about the rate lock extension fees, which I did on XX/XX/XXXX. I never heard from him again. I reached out to EMM 's President & COO XXXX XXXX on approximately XX/XX/XXXX to try to resolve the issue and get a refund of the {$2100.00} total. His assistant arranged a call for XX/XX/XXXX. We discussed the rate lock extensions, the surprise they were to me, the fact that I was never informed of the fees, the fact that I had been watching rates during my mortgage process and may not have agreed to them in the first place, and he assured me he would look into things further on the EMM side and get back with me Monday XX/XX/XXXX. As of today, I have not heard from him. I am hoping you can resolve this and have my {$2100.00} refunded to me. From your website tips : " If you decide to get a rate lock, you should make sure your rate lock agreement is long enough to cover the time until you close on your loan. If you are concerned that your rate lock period might be too short, ask your lender about switching to a longer rate-lock period now. '' and " Your Loan Estimate will state whether or not your rate is locked but it will not provide you with information about how much it would cost to extend the rate lock, how much you are paying for the specific rate lock time frame, or whether you could pay more or less for a different time frame. You should ask about those details. '' Because these 4 rate lock extensions were not discussed or disclosed to me prior to them taking place, I was not able to either inquire about the length of the extensions or the cost for them. EMM 's practices were not consistent with their " customer for life '' motto or their service I can count on promise. This was not my first rodeo. It was my third mortgage, so I know what to expect and what's just bad practices and company mistakes. So much more went into this horrific experience, but the bottom line is they did not handle these lock extensions appropriately, legally, and in good faith. And I'm the one paying for it.