Consumer complaint received 2016-12-13
Product: Mortgage — Other mortgage
Issue: Application, originator, mortgage broker — 
Company: CITIZENS FINANCIAL GROUP, INC. (DE)

On XX/XX/2016, I initiated a construction to perm loan with Citizens bank to purchase a lot and the cover the construction of a single family home. I started this process with XXXX XXXX ( Vice President, Producing Sales Manager XXXX # XXXX ) and his Admin/Sales Assistant, XXXX XXXX ( XXXX # XXXX ). Over the course of more than 2.5 months, they have consistently failed to return phone calls to me, my realtor and my title company. Their paperwork ( loan application, loan estimates and closing disclosures ) have consistently shown numerous errors ( incorrect income values and employment dates, wrong sale price, quoted interest rate, closing costs, etc. ) Numerous attempts to get these corrected were unsuccessful. 
Initial requests from the bank for information were satisfied only to be followed weeks later by requests for larger quantities of the same information, followed by requests to authorize outside agencies to release the same information directly to Citizens. We were asked for information in such a piecemeal manner that weeks of time were wasted. 
With these delays, the seller of the lot had to close before loan completion. We paid cash for the lot on XX/XX/XXXX and the title company sent all closing documents and the property deed to Citizens. After this point, communication essentially stopped. Even by XX/XX/XXXX, with dozens of unreturned phone calls and e-mails, the loan estimates that were occasionally sent, still did not reflect that we had paid for the lot, transfer taxes, property taxes, title insurance or numerous other closing costs. This indicated that there had been no coordination by the bank with our title company. 
I now elevated the situation to XXXX XXXX ( Mortgage Area Manager and XXXX XXXX 's supervisor ). He sparked some communication that requested a copy of the check we used to pay for the lot. Several days later they requested a bank statement showing the funds had been removed. Days after that, they wanted bank statements showing how I had consolidated enough money to draft that check. Again, the hap hazard gathering of one data point at a time created another week or two of delays. 
After a few calls with XXXX XXXX, and conference calls with his staff, I thought we were moving toward closing. Then they sent me the closing disclosure ( dated XX/XX/2016 ) that still showed the wrong sale price, interest rate, points to be paid and taxes. Another three phone calls to XXXX XXXX ( on his day off ) produced another conference call that indicated confusion and the fact that he now had " some pretty high level people working on this loan ''. 
I was assured that the loan would be done XX/XX/2016. I asked that it be coordinated with the title company before resending. I was told that they would do that and call me by XXXX ( EST ) on XX/XX/XXXX. I spoke to my title company that morning. They confirmed that they had conducted a conference call with Citizens bank members, but that Citizens still had bad information on the closing disclosure. Citizens stated that their system would n't let them modify it in the way necessary. The attorneys relayed to me that ( in their opinion ) it seemed like Citizens was starting over at square one. 
I called and left a message with XXXX XXXX at XXXX on XX/XX/2016 and as of XXXX have still not heard back from anyone at the bank. I am now left without a loan or any contact with anyone from the bank. The lack of competence is only equaled by the lack of professionalism. If I have to start this entire process over with another bank, I will undoubtedly have a higher interest rate and by the time we get through the entire process ( with the holidays ) we may miss the opportunity to dig a foundation prior to the ground freezing. This will delay our move in date by 3-4 months, incurring numerous additional costs.