Consumer complaint received 2016-01-17
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Settlement process and costs — 
Company: Eagle Home Mortgage, LLC (CA)

During the purchase of our home, we completed and finalized a mortgage loan with UAMC. After it was finalized, UAMC realized they made an error and could not sell the loan to a XXXX party. They then asked us to please do them a favor and refinance the loan. UAMC would cover all expenses so we would have no out of pocket fees and then they would be able to sell the loan. I was told in writing, numerous times, that we would not have to come out of pocket for ANYTHING. 

On the day we were to sign the papers, the notary told us we owed {$1600.00}. Prior to signing anything, we called the loan officer because this was not what we agreed to. We realized at that time, the money calculation broke down to {$1300.00} in prepaid interest and {$300.00} because the new loan did n't cover the entire old loan. The loan officer said he would send us a personal check for {$300.00} and he would call his manager about the other charge, noting the notary could only take a max check for {$1500.00}. The loan officer called us back within 5 minutes saying we still needed to pay the interest charge but they would drop the total to {$1500.00}, so we could give Escrow a check. 

Later that evening, I pulled up the Cash to Close agreement and noticed the LENDER agreed to pay the prepaid closing costs. Yet again, I was reminded that I was to have " no out of pocket expenses ''. I emailed the loan officer a copy of the Cash to Close agreement that night, notifying them if I do n't get a full refund I would be retracting the loan document within the 3 day window, as per our contractual rights. The loan officer got back to me saying they agreed and would issue a full refund. They notified me and Escrow hours before I could pull the loan, a refund check was being submitted so that I was paying nothing out of pocket. I trusted UAMC and allowed the loan to go through while waiting for my refund. 

Additionally, UAMC failed to timely process, approve and notify us of their intent to close on the mortgage loan. This caused delay in completion of the close process and UAMC has attempted to charge us late fees and interest in the amount of {$410.00}. This incompetence and ineptitude is mind boggling. This is incorporated into the total funds owed of {$850.00}. In an attempt to solve this matter on my own, I have emailed the loan officer 's manager to see if she could rectify the problem, but she has n't responded to my email. 

I have only received XXXX check from this ordeal in the amount of {$640.00}. I paid {$1500.00} out of pocket, thus I am still owed a total of {$850.00}. When I notified the loan officer about the incorrect refund, he followed up with an email to me and escrow, stating again, I was to pay nothing ; could we get a copy of the final HUD. A while later, I was notified I would not be getting my full refund because there was a {$760.00} difference in the old loan and new loan and paying that to us would be a violation. They agreed that they would send me a check for {$82.00} ( which I have never received ). To this day, I have never been told nor am I aware of the reason why the new loan would not cover the whole amount of the old loan. This behavior and negligence has caused significant hardship and mistrust, as we have dealt with matter unnecessarily for their sole benefit to sell this loan for their own financial gain. In the end, my family was the loser in this and your assistance is needed to help right the wrong that my family ( the consumer ) has faced.