Consumer complaint received 2016-07-25
Product: Mortgage — Conventional fixed mortgage
Issue: Application, originator, mortgage broker — 
Company: PHH Mortgage Services Corporation (PA)

My home was listed for sale, a Coldwell Banker real estate client made an offer, went contingent and now has a pending sale. The Coldwell Banker agent sold the buyer that going through Coldwell Banker Home Loans ( mortgage lender ) would be quickest and easiest. The offer was made on XXXX XXXX with a close date of XXXX XXXX. That day has come and gone. The buyer has been 100 % cleared to close on his financial but Coldwell Banker Home Loans has an issue with the Lane the house is on. This issue arrises just two days before closing, they are questioning the maintenance of the lane. The realtor has been to the house with the buyers 3 times and the buyer 4 times. The Lane has always been a " private lane '' and the bank and real estate agent were aware from day one. The buyers were all packed and ready to go to closing on XXXX XXXX. They have XXXX small children and a dog and we found out we were not closing at XXXX ( just XXXX hours before closing ). 

The home is located on a " private lane '' and when I say private, I mean there are XXXX occupied houses directly off the XXXX mile, paved/gravel lane, there are XXXX cars that utilize the lane daily, it is extremely well maintained. Its the only way in and the only way out. The Lane is in a populated area off a XXXX In XXXX, a deed was filed with the XXXX County Courts stating that the Lane will be a right of way to access all properties and will be maintained by current residents, aires and successors. The house in question is # XXXX of XXXX on the Lane. 

Apparently, Coldwell Banker Home Loans ( CBHL ) is creating a " what if '' situation and holding up the sale of this house. CBHL is trying to create a Home Owners Association, bully the buyer and neighbors. There excuse is " IF '' the buyer defaults on the house and does n't maintain the Lane and the neighbors do n't maintain the Lane, they may not be able to access the property. They want all of the neighbors to commit to the exact maintenance of the Lane. How much time they will commit, who will manage it, who will plow and salt, gravel, etc. This is an absurd request and they are abusing there power as a lender. The Lane has not and will not ever become impassable for any reason. I bought this property in XXXX and XXXX never even questioned the Lane. CBHL is sending an appraiser out to look at the Lane, however, he 's on vacation until Wed, XXXX XXXX. There is not and has not been any sense of urgency in this matter and they do n't care that this family is homeless at the current time. CBHL needs a reality check! 

I have done an addendum to the Sales Contract and the buyers have singed it and agree 100 %. If CBHL does n't give the buyers a clear to close by this Thursday, XXXX XXXX at XXXX, the buyers are to apply immediately with XXXX. 

I am in direct contact with the buyers and they are just as angry and I am. CBHL is taking peoples lives and recklessly destroying what should be a semi pleasant process for families. They need to be held accountable to process loans in a timely manner. The buyer did his part and as approved on his financial. CBHL is playing games and could careless about the family.