Consumer complaint received 2016-05-25
Product: Mortgage — Other mortgage
Issue: Application, originator, mortgage broker — 
Company: Brightfunders, LLC (MD)

In early 2015 I began the process of refinancing my mortgage with Homeside Financial. I worked via phone and email with their loan officer, XXXX XXXX, in Ohio. Throughout the months-long process and discussions with loan officer I was told that my loan would have to be broken into XXXX pieces : a conventional mortgage and a HELOC. I was wary of the HELOC when reading the paperwork due to the possible escalation of the rate. I was told by loan officer that not to worry because the XXXX loans would be put back together within 6 months. She assured me that it was something that they do all the time and that it would n't cost me anything. She told me to pay extra each month to make sure I was buying down the principal which I have done religiously. When I noticed that the rate on the HELOC went from 1.9 % to 4 % I emailed the loan officer to ask why. I tried to contact her via phone and email for a month with no response. I called my mortgage servicer XXXX XXXX XXXX XXXX XXXX XXXX about joining the loans together and was told that was not something that they do. I called Homeside Financial and left a voicemail on their customer service line stating two issues. 1 ) rate change and 2 ) putting the loans together. After several emails throughout the company, I received an email from the loan officer apologizing for any frustration about the interest rate and that they disclosed the rate change in my documentation. She did not address the loan consolidation at all. Throughout the loan process I did n't want XXXX loans because that is how people get into trouble. I had previously been in a 2-year foreclosure nightmare caused by XXXX XXXX XXXX and repeatedly stated that I did n't want XXXX loans. It was the only option available that would give me a lower rate. I was continually assured that they would automatically put my loans back together and that it would not cost me anything. I questioned how they could do that and was told that they do it all the time. After speaking with XXXX XXXX ( Care Dept ) he only wanted to address the rate change and stated that Homeside did everything properly. After pushing on the loan consolidation, I was told that there was no way to put the loans back together. The only relief I was offered was the possibility of a refinance where they offered to pay for my home appraisal. Homeside Financial is standing behind their deceitful loan officer! Now I am stuck with an interest-only HELOC and a conventional mortgage that will cost me more money if I want to have only XXXX loan. Homeside would stand to make more money on a refinance! I asked them to refinance my loans with no cost to me and again was offered a free appraisal. Because Homeside is unwilling to truly address the issue of lying by their employee I am stuck with a loan that has the potential to climb to 18 % and I am balancing each month the extra amount that needs to be paid to buy down the principal and ensure that it is getting applied correctly. Again, this is how consumers get into trouble with their mortgages. I feel I have done exactly what I was told by my loan officer believing that she was honorable. This leads me to believe the company is dishonorable since they allow their employees to say whatever needs to be said to " close the deal. ''