Consumer complaint received 2021-01-26 00:00:00
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: First Florida Financial, Inc.
State: FL

Complaint narrative:
I spoke to XXXX XXXX NMLS # XXXX Branch NMLS # XXXX in XXXX of XXXX to obtain a mortgage. I explained my situation up front and he said he could help. I provided tax returns, pay stubs, credit reports, W4s, W2s, bank statements, contracts, pay plans, etc etc everything that was asked for. Within a few days I was " pre approved '' for {$370000.00}. 

On XX/XX/XXXX I went under contract on a house and provided my {$3500.00} earnest money. As the weeks went by I heard nothing and assumed all was well. I continued to provide documents immediately upon request. I was even able to generate pay stubs a week in advance with my HR department. During this time XXXX tried charging me a 3.25 %. So I called a few other lenders and got rates at 2.5 %. I told XXXX this and he said, " Stop calling other lenders. '' He told me they were going to rip me off and he was the only one who could help me. The next day I magically got a 2.75 % rate .... hmmm ... ... 

After 1.5 months 2 days before closing XXXX said he needed more time. So I asked for an extension to give him more time to close the deal. Another week later XXXX tells me that my debt to income ratio is not right. Because I was paid a salary + commission for all of XXXX and XXXX, and now I was working on just commission - my salary income was being thrown out and not used. This changed my XXXX from 17 % to 56 %. However I was very upfront TWO months ago about how I get paid and provided everything that was asked for. But for some reason XXXX could not figure this out for two months???? 

Now here 's where it gets interesting. XXXX told me on XX/XX/XXXX that I need my boss to write a letter that states I make a minimum of $ XXXX a month. I told XXXX this was not true and could not get my boss to do it. He said it was the only way this would get done. So against my better judgement I asked my boss who was able to write the letter. He wrote the letter word for word what XXXX asked for. I delivered this letter to XXXX THE NEXT DAY. 

Another week goes by and XXXX says he still needs more time to close the deal. The lenders weren't working with my income so he had to find other lenders. At this point in order to secure another extension I was asked to put down ANOTHER {$3500.00} NON REFUNDABLE deposit to do so. XXXX said if I gave him two weeks he could find a bank to buy the loan but the rate might be higher. I said I don't care get it done. 

So guess what .... one weeks goes and now XXXX says this is a problem. He wants me to sell my truck, pay it off immediately, then have XXXX XXXX  reflect the payoff immediately. This was the most unreasonable request I have ever had. How am I supposed to get a corporation and a bank to move that fast? Then all three credit bureaus to move that fast? This guy is a joke. 

Next he wants to go to my HR department and ask them to put me on a base salary of $ XXXX every month. Oh yeah XXXX let me just walk into my HR department and get a permanent and huge raise for you. Like that's going to be so easy??? Why are you telling me these things two days before closing? 

Two weeks later .... one day before the contract expires and I officially lose all of my money. No loan, no answer from XXXX, no update. He finally tells me " I can't get this done. '' He goes on to say that he would be willing to give me a credit for my appraisal and credit report when I get a mortgage from him in six months. I asked him for all my money returned to me and he said, " You won't get a check from me. You did not actually spend any money with me. '' He said it was my fault I did not tell him about my income when I did. I provided him with everything. XXXX was apparently not aware of very simple FHA guidelines regarding commission income. He also has zero buying power or relationships with underwriters. Just a bunch of fast talk and no actual success. 

After losing nearly $ XXXX on this completely botched transaction, I called XXXX 's license holder XXXX XXXX  XXXX NMLS # XXXX and spoke to XXXX XXXX. XXXX reviewed my file and was able to properly advise me on the outcome of the loan. So how is it that XXXX was able to figure out I wouldn't qualify in 2 hours but XXXX wasn't able to figure this out in 3 months??? 

Why did XXXX tell me to stop calling other lenders? 
Why did XXXX try charging me a higher rate? 
Why did XXXX ask me to get my boss to lie in writing for him? 
Why did XXXX wait until the very end of the transaction and ask me to sell a bunch of property? 
Why does XXXX not know anything about FHA guidelines? 
Why can't XXXX do a very simple DTI calculation? 
Why can't XXXX properly read pay stubs? 

I want all of my money that I lost dealing with him back.

Company response to consumer: Closed with explanation