Consumer complaint received 2021-04-07
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: Caliber Home Loans, Inc. (VA)

On XX/XX/XXXX, I received a call from XXXX XXXX following up on a refinance inquiry Id previously made with Caliber. Upon sharing that I was going with another bank for better pricing, she requested my loan estimates to see if she could match, if not beat, the pricing. That same day ( XX/XX/XXXX ) loan estimates were provided, the loans were locked and my documentation was provided. ( Item 1, which was unable to be attached due to size but is available upon request ). Less than twenty-four hours after, XXXX reached out to share that the initial loan estimates provided and signed were not approved through her superiors and there would need to be a change resulting in an increase in the pricing of {$1200.00} total. After some back and forth, we agreed on the updated Loan Estimates on XX/XX/XXXX. XXXX Item 2 - 3 ) As I understand it, my loan was moved to processing and it was relatively quiet until XXXX when it was time for appraisals to be obtained. This process was extensively delayed by Caliber, not assigning the appraisals and subsequently not communicating with the appraiser to clarify the unit numbers. After several follow up on my end ( Item 4 5 ), they were scheduled and completed. 

Once the appraisals were scheduled and completed, it was pretty static for a while with my calling and emailing for updates, with no updates of consequence being provided. During this time, I was working with my third processor ( at this point ) to re-provide documentation that had already been provided to Caliber on multiple occasions, while following up on status in an attempt to push the ball forward. ( Item 6 13 ) Up until this point, Id been receiving incorrect disclosures periodically but had declined them as I was told by XXXX earlier in the process that this was systemic and that once we were close to closing, they would be updated to reflect what was agreed upon in the loan estimate. This was in response to my email sent to her in Item 14. 

After following up on an incorrect disclosure where the interest rate was changed and inquiring several times as to why, XXXX researched it and noticed that the original appraisal had come in under the other unit and the original appraisal at financing in XXXX and as a result, the interest rate had been adjusted to reflect that. After review from their Internal Real Estate Appraisal Review department, it was decided to request another appraisal and this began another month long process of my following up with Caliber on status. ( Items 15 20 ) The second appraisal came back in on XX/XX/XXXX and we have since been waiting for the locks to be updated. On yesterday, I began asking to elevate the issue as XXXX shared that the pricing on the executed Loan Estimate for the Origination Fees would not be honored as the delay in closing was due to me. ( Item 21 ) This was a complete lie, which is also evidenced in Item 21, as my most recent processor had told me that one of the conditions on the loans were that they all had to close together. Separately, XXXX had supplemented that by claiming that the paperwork would be easier and much quicker after the locks had expired as opposed to prior to. I told XXXX to do whatever made most sense as she and my processor had assured on multiple occasions that the pricing would be honored and even if I were not in agreement, there was nothing I could do as during this time, no attempts were made by Caliber to schedule a closing, no CDs were sent, nothing. Furthermore, as evidenced in the provided emails ( and more are available for further evidence, as well as call logs ), I have been very punctual in my responses. Most questions asked of me or requests made of me were provided same day, if not within 24 hours. I have reached out to everyone Ive been placed in contact with more times than I can count to inquire of status. Since XXXX yesterday evening, I have called each manager two levels above XXXX twice ( once yesterday evening and once this morning for four calls total ), emailed her direct supervisor and called the boss three levels removed twice for a grand total of six calls, none of my calls or email have been answered or returned as of XXXX EST. 

The last communication I received from Caliber was at XX/XX/XXXX today from XXXX, detailing how whether the Loan Estimate would be honored was at the mercy of her VP. ( Item 22 ) At this point, I am convinced that this was intended to be a bait and switch. As Caliber knew that I had originated my loans with them, I feel as though the intention was to overpromise on the Loan Estimate and then find a reason to not honor it. At this point, they have delayed the refinance so significantly that the interest rate environment is dramatically different than it was at the time we entered into the process. I would be unable to find the same pricing at this point, even if I could gather the energy to move the loans and I feel as though that was the intention. I feel like they are giving me the run around hoping that I tire and accept whatever is given. 

We have been working on this refinance for 7 months, with no visible end in sight. I do not want to ponder what might or might not be at play in the background, I simply want to resolve this.