Consumer complaint received 2017-03-22
Product: Mortgage — Conventional fixed mortgage
Issue: Application, originator, mortgage broker — 
Company: CAPITAL ONE FINANCIAL CORPORATION (NY)

I spoke with XXXX XXXX of Capital One in XX/XX/XXXX and explained that I had purchased a XXXX family investment home in the XXXX for {$450000.00} in XX/XX/XXXX which was partially funded with a HELOC of {$400000.00}. I was interested in taking out a mortgage to pay for the {$400000.00} and include the closing costs. I explained my husband and I both had impecable credit in the XXXX. At no time did my information change, the house change or the mortgageable amount change. XXXX quoted me an interest rate with 4.625 with 0 points. She said that since it was an investment property we would be able to take 75-80 % of the loan to value. She quoted me an appraisal for {$450.00} and a bank processing application fee of $ XXXX.The very fist loan documents published on Capital One 's loan hub showed points so I questioned her about it and what she had quoted me. She said she would take care of getting it removed and that it was just a mistake. Thereafter, the paperwork reflected the 0 points that she originally quoted.Then, she said the appraisal was going to cost {$670.00}. When I questioned why it was different than what she originally quoted, she said that {$450.00} reflected the amount for a single family home. Yet, at no time did we ever discuss a single family home and she knew my home was XXXX family. I told her I was not interested in moving forward if the numbers were going to change from what she quote. She later called me back and said she would honor the {$450.00} she quoted by taking the difference off of the bank attorney 's fee. I asked her to send me it in writing since I was beginning to feel uneasy with her constantly changing information. In fact, she did email me stating, " The bank attorney will discount his fee in order to make up the difference on the appraisal. '' And I can provide the emails. The appraisal was done and the paperwork reflected a 70 % loan to value. When I asked her about it, she said she would look into it. After researching it, she called me and said that XXXX regulations would not allow more than a 70 % loan to value amount. At NO time previously did she mention anything about XXXX regulations. I clearly told XXXX that I was not willing to move forward on the loan when the information that I was getting was VERY, VERY different from what was on quoted.I asked to speak to her manger and she referred me to XXXX XXXX. When I spoke with him he said that XXXX had told him that I was cost sensitive which was why she had asked him to expunge the points on the loan. This was a complete LIE considering she had quoted the 0point loan originally. Furthermore, I do n't know anyone who is not cost sensitive anyway! I told him I felt the information provided by XXXX was inaccurate, incorrect and deceptive with the intent to have Capital One fund my loan. Even after my conversation with XXXX, the paperwork was still incorrect reflecting a bank processing fee of {$990.00} versus the {$970.00} XXXX had quoted. Quite frankly, overcharging fees and inaccurate info shows a lack of attention but more specifically malicious intent with hopes that the consumer will not notice. These practices allow Capital One to charge fees incorrectly in the bank 's favor. Then after the loan is funded, I ca n't even imagine how difficult, and perhaps impossible, it would be for the consumer to get their money back.Regardless, XXXX said he was not able to do anything then referred me to XXXX XXXX. After speaking with XXXX, she said she would investigate the issues and get back to me. She left me a message saying she spoke with compliance department and she was not able to do anything and referred me to XXXX XXXX ( complaint dept ) who sent me back to XXXX. I sent my complaint to the Office of Comptroller Currency and they sent me a letter stating your office handles this matter. Please help me get the {$670.00} appraisal fee they charged me.