Consumer complaint received 2026-04-24 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Changes in loan terms during or after closing
Company: GUARANTEED RATE INC.
State: CA

Complaint narrative:
Loan Officer : XXXX XXXX XXXX. Extension Fee ( {$3200.00} ) Lender-Caused Delay, Lack of Notice, and Breach of Representation The need for the rate lock extension arose solely due to processing delays on your side, not due to any action or inaction on my part. We received initial approval on XX/XX/XXXX ( Exhibit XXXX ) and move to underwriting. By XX/XX/XXXX, I was explicitly informed that no further documentation was required from me and that all remaining steps were internal to your team ( Exhibit XXXX ). During this period, I proactively followed up multiple times with XXXX regarding the rate lock expiration and closing status ( Exhibit XXXX ). Despite this, I was not informed until XX/XX/XXXX the final day of the original rate lock, that a XXXXday extension would be required at a cost of 0.14 % ( Exhibit XXXX ). This last-minute notification provided no reasonable opportunity to evaluate alternatives or avoid the associated cost. During my conversation with XXXX on XX/XX/XXXX, I specifically asked what would happen if additional time was needed beyond the XXXXday extension. XXXX clearly stated that any additional extension cost beyond XX/XX/XXXX days would be absorbed by your company. He also indicated that closing should proceed smoothly as your team had already obtained all necessary documentation. Immediately following that conversation, I sent a contemporaneous email documenting this understanding, including that extension costs beyond XX/XX/XXXXdays would be covered by your team ( Exhibit XXXX ). XXXX subsequently responded via message regarding the extension and notary sign without disputing or correcting this understanding at that time ( Exhibit XXXX ). However, on XX/XX/XXXX at approximately XXXXXX/XX/XXXX PST, I was presentedvia a revised disclosurewith an additional XXXXday extension fee. This was the first time such a charge was communicated, and I raised the issue immediately ( Exhibit XXXX ). On XX/XX/XXXX, I was informed that no portion of the extension fee would be covered by your team. This directly contradicts the prior representation and improperly shifts the cost of internal processing delays onto me. Furthermore, this fee structure was not clearly disclosed in the original Loan Estimate, nor was it communicated in a timely or transparent manner. Notifying me of such fees only on the final day of the rate lock, without a clearly defined structure upfront, is not consistent with reasonable or transparent lending practices. I escalated to XXXX XXXX, the VP of the team ( Exhibit XXXX ), but no response with solution. XXXX. Lender Error Resulting in Re-Signing and Improper Cost Shifting ( {$150.00} ) The initial Closing Disclosure provided by your team contained an incorrect property address, which required a second notary signing. This error was solely attributable to your side. Rather than absorbing the resulting cost, your team subsequently issued a revised Closing Disclosure after the final notary sign in which the cost was effectively shifted to me through a reduction in lender credits. I explicitly raised this concern at the time ( Exhibit XXXX ). Costs arising from lender errors can not be indirectly passed to the borrower through non-transparent lender credit adjustments. XXXX. Pattern of Improper Cost Allocation and Lack of Transparency The combination of lender-caused documentation errors, last-minute notification of material fees, and the use of lender credit adjustments to shift costs raises serious concerns regarding the accuracy, transparency, and good faith of the final financial disclosures. These actions may implicate consumer protection concerns under applicable regulations enforced by the Consumer Financial Protection Bureau and the California Department of Financial Protection and XXXX. For above things, I also sent a formal demand letter to their company on XX/XX/XXXX ( Exhibit XXXX ) with their receipt ( Exhibit XXXX ), but there is no further solution from the lender.

Company response to consumer: Closed with explanation