Consumer complaint received 2022-04-11
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: Red Mortgage, Inc. (GA)

I contacted Sage Mortgage ( Forward Mortgage Lending, Inc. ) for assistance in refinancing my condominium. Specifically I used XXXX XXXX XXXX XXXX from the XXXX XXXX, SC office. XXXX XXXX XXXX was the processor. Neither individual was particularly efficient or responsible to my inquiries. Though I partnered with Sage, it was XXXX XXXX  that funded my loan. And their subsidiary XXXX XXXX  was also involved. As a consumer, these partnerships caused nothing but difficult for me. Due to the difficulty in getting direct answers from XXXX XXXX XXXX and XXXX XXXX, I would often reach out to XXXX XXXX- only to be turned away as my " contract was with Sage. '' Five days before my closing ( scheduled for XX/XX/XXXX ) when I received the closing documents, I noticed a discrepancy of more than XXXX XXXX dollars in the payoff amount of my listed and that on the XXXX online portal. ( XXXX held the current mortgage. ) I immediately sent an email to XXXX XXXX but did not reply. At the closing table, I posed the same concern to XXXX XXXX XXXX, an employee of XXXX, and he assured me that all payoff figures had been verified by XXXX. The following week, the payoff amount was rejected by XXXX has it was deemed less than the amount due. I immediately telephoned XXXX XXXX XXXX. He advised me to wait twenty-four hours and reach out to XXXX. He reassured me that " everything was fine '' and promised follow-up. As was typical with XXXX, there was no follow-up. I did telephone XXXX  the following day and was told that the problem had been resolved ; a review on my online XXXX  account indicated the mortgage had been paid in full. 

On XX/XX/XXXX ( and well past my three day right of rescission, I received notice from XXXX XXXX that the company had covered a XXXX shortage on my mortgage with XXXX XXXX roughly the same amount that I'd brought to XXXX XXXX 's and XXXX XXXX XXXX XXXX attention before the scheduled closing. XXXX demanded payment of this amount. 

I contacted XXXX XXXX XXXX of Sage Mortgage ( at the suggestion of XXXX XXXX XXXX at XXXX XXXX ) and asked for clarification. Some days later I was contacted by XXXX XXXX XXXX on XXXX XXXX 's behalf. XXXX XXXX promised that she'd take my matter to her management team and revert. I heard from her twice afterward and then " radio silence. '' Future emails and voicemails went unreturned. In late XXXX, I contacted XXXX XXXX XXXX, the loan office with whom I began my transaction. He promised follow-up. Again, nothing. And he, like XXXX XXXX quit communicating. I finally reached out to XXXX XXXX, president of the company. From him, I received a letter stating that my " refinance was funded by XXXX XXXX  back in XXXX and is well into servicing with them. 
He went on to say that my matter was " unfortunately not something Sage can help with. '' I maintain that the convoluted relationship between Sage, XXXX, and XXXX led to this issue. The lack of response by employees by Sage Mortgage led to the underpayment to XXXX ( despite my pointing out the error prior to closing ). I was reassured by employees of Sage and XXXX that all figures as they related to the pay-off had been verified and were accurate. My one right -- to cancel the contract within three days -- was not exercised because of these reassurances. 

As a consumer, I depended on the expertise of the broker and the mortgage companies with whom he partners. In my opinion, all parties failed me. Sage Mortgage blames XXXX XXXX. XXXX XXXX  blames XXXX. And I the consumer, am caught with a XXXX XXXX dollar expense that I did not plan or budget for. In the meantime, Sage and XXXX continue to multi-thousand dollars loans across the nation each day with little regard to customers.