Consumer complaint received 2017-03-04
Product: Mortgage — Conventional fixed mortgage
Issue: Application, originator, mortgage broker — 
Company: CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP (CA)

I applied for a convention 30 year fixed refinance loan with Cardinal Financial ( Cardinal ) ; DBA ; Sebonic Financial ( Sebonic ) on XX/XX/2017. I spoke with loan originator XXXX ( XXXX ) for XXXX hour, he pulled my credit report. He told me that we can do the loan ; he said that he will have his manager and brother ; XXXX looks at it again and he will call me back to confirm. After 1 hour I called XXXX, he said that his manager said that the refinance will be ok and loan will be closed within 1 month or before. ( See Exhibit 1 & 6 ). 
On XX/XX/2017, I reviewed and signed loan docs, application and all disclosures online through Sebonic website. XXXX stated that the closing cost will be about {$3000.00}. Sebonic disclosed the same rate ( 3.865 % ) I was offered by XXXX on XXXX for XXXX closing cost. 
On XX/XX/2017, I received an email from XXXX to assure me, I do not have to pay any of my credit cards, since I have sufficient income. ( See Exhibit 2 ). 
On XX/XX/2017, XXXX ( XXXX ), XXXX 's assistant ( she is not licensed to give rate & pricing to consumer ), contacted me, said that XXXX gave me a wrong quote and Sebonic will not honor 3.865 % I was offered by XXXX, until I pay an additional {$4700.00} to buy down the rate. If I do not want to pay {$4700.00}, the rate will change to 4.11 %. XXXX said that XXXX made a mistake when he gave me the rate on XX/XX/2017. I said XXXX and Sebonic should pay {$4700.00} not me. XXXX said that she will discuss with management, she will call me back. On the same day, XXXX called back, said that Sebonic will pay {$3000.00}, I have to pay {$1700.00}. I did not agree on that offer either, since it is not my fault. In order to cancel the deal, XXXX started to say that, I have to pay all my credit cards, which amounted to {$30000.00}, otherwise we will not refinance the loan. XXXX also said that she could n't locate XXXX, he is hard to find. 
On XX/XX/2017, I received another email from XXXX to assure me, I do not have to pay any of my credit cards, since I have sufficient income. XXXX admitted that XXXX made a mistake. ( See Exhibit 3 ). 
On XX/XX/2017, I received another email from XXXX, loan processor 4, asking me to pay off some credit cards again. On the same day, I received another email from XXXX to assure me, I do not have to pay any of my credit cards, since I have sufficient income. XXXX admitted that XXXX made a mistake. I spoke with XXXX on the same day for about 36 minutes, during the telephone, XXXX admitted that he made a mistake on the rate, he said that, he will take full responsibility for his fault, he will talk to management to honor the same rate he originally offered to me on XX/XX/2017, which was stated on the loan application and all disclosures as 3.865 %. ( See Exhibit 4 ). 
On XX/XX/2017, I received another email from XXXX, which was full of lies and deception to tell me that my employer reported a lesser income than what I told him on XX/XX/2017. I did NOT believe that at all. I called XXXX on the same day to ask him about the income that was reported by my employer. XXXX apologized again and he said that my employer reported the same income I told him originally on XX/XX/2017. XXXX said that he should have reviewed the data more carefully before writing the email to me. During the same telephone call, XXXX stated that, he will not honor the same rate ( 3.865 % ), he originally offered on XX/XX/2017. XXXX said that, I will have to pay XXXX of my credit cards and have {$7100.00} for closing cost instead of {$3000.00}. ( See Exhibit 5 ). 
All the statements I mentioned in this narrative are either supported by attached emails exhibits and/or recorded telephone call conversation by Cardinal. The rate lock I have at 3.865 % is due to expire by XX/XX/2017. 
I strongly believe that XXXX and his brother XXXX