Consumer complaint received 2019-06-07
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: Caliber Home Loans, Inc. (FL)

The problems I had with CALIBER HOME LOANS started on the first day I contacted them and continues to this date despite the fact that I closed over a month ago. 
XXXX XXXX XXXX XXXX XXXX Mr. XXXX manager XXXX XXXX Mortgage Processor Consumer Direct XXXX XXXX Ms. XXXX Manager at the time of closing I was seriously considering refinancing my existing mortgage with Caliber and cashing out some of the equity hoping to draw approximately {$50000.00} out. On XX/XX/XXXX, I spoke with XXXX XXXX to get information and explore my options. He said he would explain all my options after he ran my credit rating, received other documents including the appraisal on my house. 
For the most part everything went relatively smoothly although I found myself educating Ms. XXXX on several topics. For this purpose, I will concentrate only on the Application Process : Credit Decision and incomplete information. I will follow with the closing problems and finally the post closing issues. 
Application Process. 
I was advised that my mortgage credit rating came in at XXXX due to an alleged serious delinquency. I explained this {$160.00} charge was caused by a billing error from a former cable company which I disputed with the cable company, collection agencies and had documentation showing it was resolved. The interest rate quoted was 5.375 % ( compared to 4.1 % I was currently paying. 
XX/XX/XXXX. Mr XXXX to me : When we get toward closing processing orders an updated mortgage credit score and if it has gone up since we started you will gain the benefit of that. I think we talked about that when we were talking about your scores but better to hear it twice than not at all I explained I would dispute the issue with all 3 credit  agencies. I successfully disputed the charges and notified Mr. XXXX and XXXX XXXX on XX/XX/XXXX showing the delinquency had been removed from my credit reports Incomplete Information provided to me : As stated initially, I was hoping to cash out about {$50000.00} using some to pay off debt for which I was paying {$530.00} a month. That would leave about {$35.00}, XXXX cash minus closing costs. Some of the {$530.00} would go towards the increase in my mortgage and the rest to savings. The balance on my existing mortgage was {$100000.00} and the appraisal came in at {$220000.00} equity enough to cover my tentative plans. 
I received the Conditional Approval for Mortgage Loan in the amount of {$140000.00} XX/XX/XXXX Me to Mr. XXXX I just received Loan Estimate documents which I need to review, sign and return .Maybe I'm thick but ... .. My whole goal was to cash out some of the equity in my house amounting to about {$50000.00}. I don't see that reflected anywhere in the documents. How does that work? 
I never heard back with an explanation. The loan was for {$140000.00} which was not close to satisfy my tentative plans. 
CLOSING : I received the Mortgage Loan Disclosure on  XX/XX/XXXX the day before scheduled closing. Nothing had changed including the XXXX credit score and 5.375 % interest rate. 
Below is the email exchange between me & Mr. XXXX and cc Ms. XXXX on XX/XX/XXXX Wednesday, Why hasn't my credit score improved? The " serious deliquency/negative '' has been removed. I sent documentation. NOT HAPPY. I might just postpone closing and pay the {$160.00}, ... .... 
On XX/XX/XXXX, at XXXX XXXX, XXXX XXXX XXXX wrote : Are you asking us to repull your credit and get an update? 
Me : Absolutely!!! I thought that was clear from day 1. That delinquency was a mistake. I never owed them a penny. I explained that! I disputed it. I sent you proof it was removed! My credit score For MORTGAGES improved. I sent that to you, too. Why do you even have to ask unless you just want the sale. Really?! 
XXXX We have to ask your permission of course. My manager XXXX called you. Have you called her back? Her email is below on my email as well Me : No calls on my home phone from her. I am assuming she was given my cell phone although I have said, on several occasions, not to use that number. Ask my permission? I instructed you to re-check the score in the email below. That, too, was discussed during my initial phone call with you. We were also supposed to go over different scenerios to see which best met MY needs once you got all the info. That never happened either. Nothing like waiting for the last minute. I suggest that you change the closing date to allow for the additional snafus which should happen. I am NOT A SATISFIED CUSTOMER and one more thing and I will cancel the deal and work with someone else. Unbelievable!!! 
On either XX/XX/XXXX 0r XX/XX/XXXX, I received a call from XXXX XXXX. I explained that I wanted them to pull an updated credit report. His response was We cant change your credit score. I told him I did not expect him to change my score. I explained the serious delinquency dispute and resolution. The credit agency changed my score and I wanted that used. His response, again, was We cant change your credit score.  We repeated this dialogue a few more times. He finally said he could lower the interest rate to 4.99 %. He offered no explanation for either statement. It was obvious he just wanted to close the deal and, quite honestly, I was beside myself with frustration and I agreed. 
POST CLOSING : Starting XXXX ; Emails between me & Ms. XXXX According to the closing documents, {$10000.00} was due to me. The money transferred to my checking account was {$9900.00} which is short by {$160.00}. Explain please. 
XXXX XXXX I will reach out to closing/title and get an answer to your question XXXX XXXX The Closer reached out to me this morning. She had to set up Escrows for the new flood policy adjustment. I ask her to send me a revised Closing Disclosure and she will have it to me by the end of business today. 
XX/XX/XXXX Me : So? I never received the revised Closing Disclosure promised by end of business last Thursday. Mr. XXXX sent me a new set dated XX/XX/XXXX but it doesn't address this issue. I have checked all the documentation I have and can not figure out how and why {$160.00} was deducted to allegedly cover a ( prepaid ) increase in my insurance of {$110.00}. The increase in insurance happened way before the closing documents. I want a very detailed accounting of how they came up with a shortage of {$160.00} in addition to the {$460.00} " cushion ''. 
I have heard nothing! Yesterday, I received an escrow refund of {$1300.00}. Therefore, I do not believe the {$160.00} was deducted to cover a {$44.00} increase in flood insurance which I paid at the time it was increased ( there was also an increase in hazard insurance but together they only totaled {$110.00} both prepaid ) I believe that I was lied to on several occasions as outlined above.