Consumer complaint received 2020-09-01
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: LD Holdings Group, LLC (CA)

Issues : I believe to the best of my knowledge that I have been wrongfully denied the loan. Here is the reason why : 1. I was told different stories why they can not process my loan. First time they said because its an investment property, then because cash out, when I said how about no cash out option, initially they said yes and later declined.

2. Recently, I received a letter from them in which they have stated one of the reason for rejecting my loan as incomplete credit application. They never communicated to me that my credit application was incomplete.

3. Their final estimate loaded on their customer portal most of the time does not match with what they share in estimate worksheet.

4. They are not honest and very rube including XXXX XXXX and his Manger XXXX XXXX 5. Not sure if this their is any TX state law that prohibits refinancing investment property for out of state investors. I am not even an investors, I just kept this property as a fallback arrangement if things dont workout in California, we moved to California last XXXX. 
Any help will be very much appreciated. 
Details : Applied for Refinance for XXXX, TX Property and received estimate on XX/XX/XXXX and locked the rate, here is the estimate : The loan program being secured is a Conv Fixed 30 Year Loan amount {$500000.00} Loan Size/ $ XXXX TX The interest rate is 3.500 % with XXXX % discount points. 
You have chosen to include property taxes and insurance in your monthly mortgage payment. 
Your monthly principal & interest payment is {$2200.00}. 
( If present XXXX Your monthly estimated escrow payment is {$1100.00}. ( does not include HOA or lease/ground rent if applicable ) ( If present ) Your monthly MI payment is {$0.00}. 
Your total monthly mortgage payment is {$3400.00}. 
The loan does not have a prepayment penalty. 
Your total closing costs including lenders fees, discount points, & 3rd party charges are ( {$55.00} ).

( lender fee {$1500.00}, discount ( {$3400.00} ), 3rd party {$1700.00} ) -- -- -- -- -- -- -- -- -- -- -- -- -- -- We agreed on it and signed the Loan Estimate and submitted all the docs and received the appraisal Document on XX/XX/XXXX. On XX/XX/XXXX XXXX XXXX sent me an email with following message : Texas just told us the following information. 
As the Anads do not own another property in TX, can not complete refinance transaction on investment property in TX. Texas Refinance : o Second homes and investment properties allowed ( subject property must not be the only property owned in TX ) ( TXA6 transactions are only allowed for primary residences ).

One must live in TX full time to refinance an investment property. TX will not allow us to refinance the home. I am sorry for any inconvenience. 
Upon my further request to provide me the ruling that prohibits him from refinancing he sent me following email on XX/XX/XXXX Overview. A Texas Section 50 ( a ) ( 6 ) loan is a loan originated in accordance with and secured by a lien permitted under the provisions of Article XVI, Section 50 ( a ) ( 6 ), of the Texas Constitution, which allow a borrower to take equity out of a homestead property under certain conditions.