Consumer complaint received 2020-05-01
Product: Mortgage — VA mortgage
Issue: Closing on a mortgage — 
Company: Chrysalis Holdings LLC (GA)

In the beginning of XX/XX/XXXX I conducted a online search of refi-mortgages. I was contacted by XXXX XXXX from New Day USA. He convinced me he could do everything I had in mind to include lowering my interest rate to 3.75 % and supply cash out to reduce make home improvements and reduce credit card debt. Because it was a VA loan, I could get 100 %, ( per their television commercial ), of the appraised value. After submitting all required paperwork and having the home appraised, I was told everything was fine. I was contacted later and told that because I, (? ), had not locked in the rate, the rate was now 4.25 %, ( my present rate ). I was furious to say the least. They told me I had to send them a email requesting I lock in the rate. I was NEVER told that. I thought about for a few days and sent the requested email. After that ALL communication ceased. This company pulled my credit af least 2x lowering my score. I left numerous messages with XXXX that were NEVER returned despite his claim he attempted to call me. ( I have my phone records ). I called numerous listed numbers for his company and they ALL led to HIS voicemail. I finally reached a customer service representative who could not help me because all I had was a loan application number, NOT a loan number. Finally, TODAY, I reach him. He claimed had tried to reach me several times. My phone records will support just the opposite. He also had my spouses number AND our email addresses. Now he claims the terms of the loan have changed yet again. His claim was that I told him my house was worth $ XXXX. I said no such thing. What he neglects to mention was that he was aware of the appraisal amount, ( $  XXXX ), which was submitted to him PRIOR to offering the final terms of the loan. It HAD to be to set the terms of the loan. Even after he had the appraisal, he stated there was no problem. Now today, he tells me they can only do 90 % of the home value. Do they even watch their own television. commercials? They clearly state 100 % of your homes value. THEN, while going through the mail today, I get a letter from XXXX XXXX insurance changing the mortgage company from my present company to New Day. HOW? I never signed any closing documents, never agreed to any terms or received any funds. I contacted XXXX XXXX, ( through XXXX, my primary insurer ), and they were shocked. XXXX XXXX has now placed a note in their system to contact EVERY customer prior to switching any insurance coverage to New Day USA. There is now a story on XXXX XXXX, ( XXXX ), that the Feds have placed several companies on a watch list for " churning out '' VA loans. One of those companies is, you guessed it : New Day USA. The retired XXXX XXXX XXXX who poses as a spokesman for this company should be embarrassed, ashamed AND held responsible for false advertising practices. This company has clearly broken Truth In Lending laws as well as false advertising. The Veterans Administration needs to take punitive action against this company. The Department of the XXXX needs to conduct a investigation in the conduct and behavior of one of it's senior retired officers who does his best to intice veterans to do business with a company whose practices are currently being scrutinized by the Federal Government.