Consumer complaint received 2020-09-12
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: GOOGAIN, INC. (CA)

Recently I and my husband had horrible experience with Googain Inc home refinance. We tried to communicate with our loan officer XXXX XXXX, but unfortunately she had been not reply to my question a few days after the loan close, so I am now bringing this up here in the CFPB platform. 


1. We were told the Googain will provide us credit to cover the closing cost. We have multiple times request a lender document to reflect the actually number of the lender credit but all refused by our loan officer. She told us it will be on the signing document. The escrow statement showing credit {$2900.00}. But not anywhere on the lender document. The loan officer told my husband to sign it. We still kept asking for the lender document with accurate number even after signing. Escrow forwarded one to us a couple days later. I noticed that lender charged extra {$190.00}, labeled unused NRCC because the recording fee and notary fee were overestimated, so the {$190.00} is part of our lender credit. My understanding is the lender credit should be fixed before closing, because we are choosing certain interest rate in order to receive certain amount of the credit. 
Why they can take the credit back, the amount was printed on the escrow statement at signing? My understand is part of the signed contract ( signed loan docs ) Why the true amount of the lender credit can not be printed on the lender closing disclosure before signing? 
The recording fee should be disclosed base on the page number of the recordable document, why the recording fee can not be finalized before signing? 
Why the notary fee can not be confirmed when booking the notary service? 
Does that mean that lender can always overestimate the closing fees, and without telling borrower the actual credit? 
If lender is talking about the over tolerance, shouldnt that {$190.00} causes over tolerance? 
It more seems like a price trap to borrower that causes confusion that we will receive a higher amount of the lender credit because of closing fees on the statement, but actually the closing fees are overestimated, and the credit will be taken away after signing. They definitely cheat borrower. 

2. Our loan officer asked us to sign a pre-filled form which asks us to expedite the appraisal review time. I and my husband didnt wish to waive the review. Why there is not an option for us? Why we are not giving the option to check the box on the document ourselves? Loan officer advised that we need to sign it as is in order to move the loan forward. We dont want our loan stuck if that is the lenders requirement. But it doesnt make sense to me to sign a document filled by someone else without me and my husband acknowledge. 

3. We received the closing disclosure from lender a couple weeks before closing with inaccurate data. Both I and my husband communicated to the loan officer request to make changes before we sign and acknowledge the document. But nothing received from lender or the loan officer. A week later, the loan officer texted my husband asked for both signature on the closing disclosure even we didnt agree with the figure. The same story was told that if we both dont sign it, we would not able to move forward, so we give her the signed copy. However we found out that is not true. A ) We should be able to ask lender to update number. B ) Even we dont sign the closing disclosure, lender should still be able to move forward per the TRID calendar. C ) The closing disclosure may not need to be signed by both of us because loan is for investment property. I more feel like the loan officer is lack of mortgage knowledge, and trick borrower to sign the document such as it you dont sign it, you dont move forward or its lenders requirement etc. 

4. Does the investment property refinance should have rescission? We were told yes by the loan officer, my husband researched answer which stating that doesnt need to have rescission on the investment property refinance. I communicated with the loan officer, initially she insisted that lender requires the rescission on our transaction, when I asked her reason why, she was unable to answer. She came back to us with different answer before signing. This time she was advised by lender that our transaction doesnt have rescission. But the lender instruction escrow received still stating our loan should have rescission, I questioned her if the loan with rescission why the notice of right to cancel is not included in the loan package. Then no one can give me an answer. The loan officer basically doesn't know what is this for the refinance.

Loan officer made multiple mistakes on our loan such as associate wrong APN with out property, misread W2 pages. etc. Also the entire process was in the gmail environment, we don't see the loan officer has the business email. And our loan information are all in unsecured email, which I don't feel she is professional enough. I and my husband did expect the loan officer could know more about the lender, lender requirement, mortgage regulation. But it was really disappointed that our loan officer XXXX XXXX was not someone we could count on.