Consumer complaint received 2019-08-08
Product: Mortgage — VA mortgage
Issue: Closing on a mortgage — 
Company: Caliber Home Loans, Inc. (MD)

My wife and I recently completed a refinance of our existing home mortgage with Caliber Home Loans mid-XX/XX/2019, who was and remains our home mortgage company. We had questions about the numbers throughout the entire process with the Caliber Senior Loan Consultant as they changed weekly, if not daily. We have several email exchanges between Caliber and myself or my wife. On the day of the closing the numbers didn't make sense and we even reached out to the closing company along with Caliber staff as we were concerned. The Caliber Senior Loan Consultant advised over the phone that we had nothing to worry about and everything would be fine. We were still to be able to skip one month payment and would receive our entire escrow from previous loan back without any additional fees. We decided to keep move forward with closing on the evening of XX/XX/2019 thinking everything would be fine.

On XX/XX/2019, we received a refund check in the mail from Caliber Home Loans in the amount of {$530.00} as being ESCROW/UNAPPLIED CASH DISBURSEMENT ACCOUNT, but we were supposed to receive a check for quite a bit more after closing on our new loan. It should have been around {$3400.00} or so. We sent of emails and attempted to make calls only to be ignored for a day or so. Finally received a response from the Senior Loan Consultant saying he/they would be more than willing to answer our questions. After sending yet another email, we received a response from the Senior Loan Consultant where he broke down where our funds went, which was quite a bit different from what we were provided previously or even given in our closing documents. As part of the new loan breakdown provided, we were charged {$1700.00} for Homeowners Insurance, {$560.00} of prepaid interest ( {$43.00} per day from 6/18/19-07/0/19 ) and {$2000.00} for the 1st half of taxes, but after looking at the current mortgage escrow, there is only {$1200.00} accrued. Somewhere there is about {$2900.00} - {$3000.00} unaccounted for, which we believe we should have received vice along with the {$530.00} check. Given the check received says this is Paid in Full we have not and will not deposit the check and asked Caliber to look into this. To date, nothing ... Not a call, email response and Caliber Home Loans customer service is worthless as they can't provide us any information. To add ... we were required to pay {$960.00} + ( personal check ) towards closing because of upfront escrow costs, but we do not see where that has been applied to the loan, taxes, insurance, etc??? Initially our loan was {$20.00} cheaper, but it went up the {$20.00} throughout the process, which we questioned and were told once againthis was due to upfront/escrow costs at closing on refinance. The numbers just dont add up.

It seems during the refinance process, Caliber Home Loans decided to charge us {$3000.00} of accrued interest during the process. This was never discussed with us and is nowhere in any of the documentation we received before or during closing. Had we known this ahead of time, we more than likely wouldnt have proceeded forward. We were advised by the Senior Loan Consultant that we would be able to skip the XX/XX/XXXX payment and no other fees ( none ) would be assessed while going through Calibers refi process. Additionally, we are being charged {$87.00} for a late fee!?!? We were told by the Senior Loan Consultant that if any late fees were to be accessed, he would ensure it got rectified. To date, nothing has happened or changed. Additionally, we had to pay {$30.00} to stop payment on our previous loan with Caliber Home Loans to ensure we didn't pay for the month of XXXX in order to skip one months payment.

At this point, we just do not feel comfortable with Caliber Home Loans or how things have been handled with our refi. We also feel like we have been lied to WRT the funds and it seems to continue. Once again the {$3000.00} of supposed accrued interest and the late fee of {$87.00} are just incorrect. Caliber Home Loans was never forthcoming with how the funds would be handled and from our perspective, lied throughout the entire process. Period! {$3000.00} might not seem like a lot to some, but it means a lot to us and Caliber Home Loans continues to ignore us.

Needless to say, we could not be more frustrated or disappointed with the entire process or with Caliber Home Loans.