Consumer complaint received 2022-10-20
Product: Mortgage — Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: ACOPIA CAPITAL GROUP (TN)

On XXXX XX/XX/XXXX - My mom XXXX XXXX and I looked at a home built by XXXXXXXX XXXX  in XXXX TN XXXX XX/XX/XXXX I looked at the house again XXXX XXXX stated they had to write up the contract since it was on a builder contract and would not use the TAR form ( contract created by the State of TN ) and they would not let XXXX or I write it up, we are TN XXXX  XXXX. XXXX XXXX XXXX XXXX XXXX also said it was mandatory to use their lender and that it was their preferred lender. XXXX told him that she wanted to use her preferred bank, he stated it was NOT allowed. Being a XXXX, we are supposed to suggest at least XXXX banks/lenders if we recommend one to a client to prevent any bias. We did reach out to their bank " Accurate Mortgage Group '' and spoke to XXXX. XXXX explained her income, bank statements, XXXX 'S, rentals, XXXXXXXX XXXX XXXXXXXX XXXX that she does part-time. I also explained my situation regarding credit, divorce and income, as well as that I had no where to go because my home sold and that the buyers would not allow an extension. I explained that my kids would have to stay somewhere else than me while we work this out since they did not meet either of their closing dates, on or before XX/XX/XXXX and XX/XX/XXXX. My mom told them she did not want her credit ran till they could confirm yes or no for financing based on documents that she and I submitted. I sent a text also stating do not run the credit until all docs are viewed. 
We submitted everything in writing on XX/XX/XXXX regarding all finances, bank statements, lease agreements, loans, a home that XXXX purchased and notified the lender that this home was under an extensive restoration job. She also explained that her bank account held that money for that job. That they could see the money, but do not account for that on closing. She told them that had {$45000.00} to put down and that was the only amount that she could pay for closing. She had contractors that had to be paid with the other funds. They said she was approved for a XXXX percent loan. That she only needed XXXX percent down. She told them that she had {$45000.00} down and that she needed the payment to be at or under {$2000.00} because this home was going to be my primary residence and that is what I could afford to pay due to divorce and paying bills alone. They said that yes they could help us based on reviewing her docs. Then they ran her credit, and said it was good which we told them what her scores were based on online apps. She got a disclosure stating it was {$24000.00} in closing cost with an XXXX interest. XXXX contacted the lender and argued this amount/interest rate. They changed it to a XXXX interest rate and said that was the best they can do. She called her personal bank and asked about their rates, she informed the listing Realtor that she was going to use her bank, but he stated that she could not do that and that she had to use their preferred lender. Accurate XXXX contacted her and asked why she was contacting her own bank and then was informed again that she could not use her own bank and had to use the lender referred by XXXX XXXX.. A buyer can use whoever they want when making a purchase, there is no requirement to use a specific lender. After this argument with their lender, they went back and gave me a XXXX interest but it was never printed on a disclosure/documentation. The closing cost & appraisal cost of {$1600.00} and XXXX argued that down to {$600.00}. XXXX did not agree with the terms, so they will not approve the loan and they will not deny her either. Accurate mortage lied, they never had a XXXX interest rate, XXXX XXXX stated they will withdraw the contract, XXXX stated to them that they do not have permission to withdraw it, that they are to approve it with agreeable terms that their lenders XXXX and XXXX. The next problem is that they told her that she had to bring $ XXXX down at closing- and we both informed them that neither of us had that kind of money. 
XXXX called me and stated that the loan was denied then backtracked and said that they went another route behind the scenes and got it approved. they never told us it was denied until that phone call. They never gave us a choice to proceed or not if it was denied. If they would have denied it, that would have given me notice to start looking for other housing options as I was limited on time and running out of time. When he told me that the loan was denied and I questioned it, he then stated that she might have to bring more to the table, about XXXX XXXX  more and I asked " what if she does not have that? '' as I do not know how much money my mom has and that is frankly NOT my business. He then stated remember that this is a bank statement loan and that's the bad part about a bank statement loan, he can see how much she has in her account and that she had more than enough in her account, so she will not be denied. After we hung up, I called my mom and notified her that he stated at first that we were denied then that he said they did something to get it approved and then made a comment about how she won't be approved because she has enough in her account and more. My mom was very upset about how XXXX handled that phone call, admitting her personal information etc and we made a XXXX way call. Of course, XXXX denied stating that the loan was denied. XXXX denied stating any of this to me. Like I told him on an email, I have no reason to lie about what he says and maybe they should record their calls so they can prove that I was telling the truth. On that day, we made XXXX phone calls to him with follow up questions and trying to get clarification. My mom told him again that she has funds in her account but some of that money could not be touched because it was payment for a contractor.Then he proceeded to tell her that she had to put XXXX percent down plus closing cost, in which she reminded him that she could not do that Unless we use to the commission from my side. They would not reduce the price of the home by the amount of the commission. Without discussion, he tried to get her to waive her commission, instead of taking it from closing down payment or off the price of the house, this also was not documented on disclosures. XXXX did ask the agent why she would do that, it did not make sense to waive commission with no positive intention behind this move. Agent stated he didnt know why they took off commission. 

One of the problems, Accurate XXXX wanted XXXX to lie on primary residence, she was not going to lie for them or help them cover up whatever they were trying to do. They wanted her to sign papers stating that she will be living there with me and my kids. They asked her to text this info as well so they could have that in writing. She would not do that. 
Every time I sent them a letter stating it was going to be my primary, they would resend an email or letter in their words. She wouldnt sign it. They lost bank statements, I had to resend multiple times, then again toward the end they wanted more statements that was already submitted. She explained that they already had them and how hard it was for her to keep getting the same documents or more documents from her bank due to location/not local. 

She paid the contractor, they were angry over that because the money was no longer available for them. They wanted XXXX to go get the contractor money back and put back in the account. She told them no she could NOT go get the payment back from the contractor. She owed this person money and he was kind enough to wait an extra month while we attempted to sort through this situation. 

The realtor called and she needed to go and get the money back. Do they really think the contractor was going to give money back to her when she OWED him? He would then be taking another risk of not getting paid for a service that he provided. I am asking for a denial letter to get earnest money deposit back on behalf of XXXX XXXX XXXX The XXXX XXXX will not give back due to no denial letter and they would not approve the loan either because they still wanted more documentation. 

Due to XXXX XXXX, I was homeless for almost 4 weeks. I had no place to sleep. My kids had to stay w/their friends. I had to pay and provide groceries. I had to pay for a hotel as well. Not only did we lose money on earnest money deposit, I lost money by delayed closings, having to pay other people to keep my kids, hotel and food expenses, time in dealing with this situation, time in attempting to find a place to live, lost out on a rental home because of the back and forth with XXXX XXXX. THIS WAS A NIGHTMARE.