Consumer complaint received 2015-06-09
Product: Mortgage — FHA mortgage
Issue: Settlement process and costs — 
Company: GUARANTEED RATE INC. (AZ)

We went with the mortgage company, Guaranteed Rate, starting in XX/XX/XXXX. They sent our credit card numbers to our employers HR dept. We were notified that it was sent over, via phone call from my husband 's employer. I sent the information to my loan officer and he said he addressed the issue.We were XXXX applying for a USDA loan, however, we found that we made {$160.00} too much a year in order to qualify for the loan. The APR for the USDA was 3.875 %, once we switched to FHA, the APR was 4.0 %. I received an approval letter for my loan, and they input a new APR of 4.125 % on the paperwork and never notified me of the change. I worked with the loan officer and he informed me, " If you did n't go with the 4.125 % you will not get the credit of {$5300.00}, to help with closing costs. You are stuck in a boat and wo n't get the house if you do not do the 4.125 % so you have no choice. '' XXXX days prior to my close of escrow, we were asked to provide a letter of payment agreement for our XX/XX/XXXX taxes from the IRS. I went to the local IRS office and they were not able to provide the information since the letter takes XXXX weeks to process. This information was not indicated on our approval letter as a stipulation to close on the house. My realtor was cursed at by my loan officer, via email, when he was trying to obtain status of the loan. On the day of close of escrow, we were informed that the loan would not go through since we were unable to supply the letter from the IRS. The branch manager of the mortgage company then reran my credit, along with my husband 's, and then sent our SSN and our FICO scores to the seller 's realtor. He was trying to tell the realtor that due to our credit we did not qualify, which was completely untrue. We did not lose the loan due to an issue on our part, it was on the lender 's end, for not obtaining the information that they required in a timely manner after having my loan for over XXXX days. We were then homeless with XXXX children, and my mother that lives with me, and we were forced to live in a hotel for XXXX nights until we were able to find a rental. I am now out of my earnest deposit of {$2000.00} ..., money for a hotel stay of {$190.00}, money for food for during the hotel stay approximately {$50.00}, and a deposit of {$2900.00} for the rental that we were forced to rent instead of moving into our own home. The loan officer is now no longer employed with the mortgage company and I am needing to get help in obtaining my costs back to me and find a way to make a formal complaint on the person that sent in our credit card information and our SSN and FICO scores to the seller 's realtor as well as sending a letter that we backed out of our loan, when in fact, I have email evidence telling me what is needed in order to close on the house. This information was sent to the seller 's realtor by the branch manager XXXX XXXX. It 's not that I did n't want to provide the information, it 's that I could n't due to the request being done days before close of escrow. We did try to go through another finance group, but the sellers were not willing to wait any longer and relisted the house on the market because of this whole issue.