Consumer complaint received 2021-07-04 00:00:00
Product: Mortgage — FHA mortgage
Issue: Struggling to pay mortgage — 
Company: LAKEVIEW LOAN SERVICING, LLC
State: IA

Complaint narrative:
To whom it may concern I am requesting your immediate help in a very serious matter. As of XXXX XXXXXXXX XXXX located in XXXX XXXX, Iowa procured an FHA loan through HUD. At the point of origination an appraisal was ordered from XXXX XXXX XXXX located in XXXX Iowa were the said property was located. The loan was sold on the secondary market to XXXXXXXX XXXX located In Florida. As of XXXX I listed the home for sale, I received not one valid offer that would financially extract me from the Mortgage owed, pay-off the closing costs and allow me to move and acquire another home of lesser value, in another state. As of XXXX, I again tried to market the property myself, forgoing the exorbitant realtor costs, hoping to sell the property, just to cover the mortgage owed to the FHA and various closing costs, associated with the City of XXXX and Iowa State. The home to date has been on the real estate market for over 140 days with not one offer of validity offered. I have now gone to great effort to explore exactly why this home in question will not sale. The most important factor to be considered here, is that the appraisal ordered at the origination of the loan was fraudulent. The comp set used for the comparison study was entirely factitious. The home portrayed in the report are an entirely different category of structure assuming a far greater value than the home that was funded.I have tried to alert LakeView-XXXX of the fraud that took place, many times calling several times a day to be connected to many various individuals such as supervisor after supervisor in many different departments, yet to no avail. I am just told they have never heard of such an instance before and can be of no help. The financial loss here is exceptional. I entered a lease purchase for this home putting {$20000.00} as a down payment. Then I paid over one years time another {$42000.00} in monthly payments spread into a 13month payment structure. Then the FHA funded {$340000.00} in the complication of the said loan. This totals {$400000.00} when the home value should be in the {$200000.00} range, when compared to the comp set of XXXX XXXX for all of XXXX County where the home is located. As of XX/XX/XXXX, before my knowing of this fraudulent event, I put the home in forbearance with LakeView-XXXX. Lakeview Mortgage owns the loan, XXXX services the loan. The forbearance is now to conclude next month in XX/XX/XXXX. The home can not be sold for what the FHA is owed. I am at a total loss here as to what to do. I have reported this action to HUD, the FHA, to the Attorney General for the State of Iowa, to the Iowa XXXX XXXX XXXX and the the Iowa XXXX XXXX XXXX.I have as well spoken to Senior Management at LakeView Mortgage directly. A Mrs XXXX XXXX is my point of contact ( XXXX ) XXXX FHA CASE # XXXX LOAN # XXXX Most sincerely, XXXX XXXX XXXX XXXX XXXX XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation