Consumer complaint received 2020-11-24 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: TD BANK US HOLDING COMPANY
State: NY

Complaint narrative:
I'm writing to you to bring to your attention our recent experience with the TD Bank XXXX  team. 

I have been a loyal customeralong with my wife and son. We have been banking with Td bank for close to two decades. We have had a mortgagewith TD bank for the last 5-6 years for our apartment in XXXX and when the interestrates started dropping earlier this year, we decided to refinance our Loan for a 2.65 fixed Apr. 

We started the refinancingprocess in XXXX and right away noticed things are moving on a slower pace but did acknowledgethe fact that everyone is working fromhome etc due to the pandemic. We had submitted all the paperwork requested by the team by XXXX and more paperwork was requested saying that some of our income cant be used towards the refinancing. During this time the loan officers called us serval times and asked us to do a loan modification to lower our rates to 3.5. I told them I dont want to take that offer as I wanted to refinance and lower our rates from 4.5 to 3.65 and wanted to change it to a 15 year fixed instead of 30 year. Soon I got another call from the back office and the underwriter pretty much tried to convince me to take the loan modification deal for 3.5. I said Im not interested. I cant tell you how many times he pressured me to take that deal. 

Few days after we were told that we're not making enough money to support the refinancing. So we decided to add my wife 's father as a co-signer. This was also a time we decided to go to the XXXX for a month-long trip to escape from Covid. I told the TD XXXX  about the trip and told them how important it is for us to wrap this up while we are in XXXX. To our disappointment the TD XXXX  XXXX took their time and missed a few of the appointments we made for them to talk to my father-in-law, and everything else followed for that matter. 

To make the long story short we were at the XXXX for almost a month and a half and TD XXXX  dragged everything out. During this time I kept calling and emailing all the members and telling them how important it is to wrap this up when we are at the father in law. Unfortunately nothing happened and once we got back to New York, I started getting emails regarding what paperwork we needed from our father in law. This was a time my father in law had an accident and he was unable to send any paperwork. 

TD bank XXXX  took this as an opportunity and told us to take the loan modification deal and we didnt have any other option but to agree to it. 

I received a letter for the loan modification in XXXX where it stated that our new monthly payment of principal and interestwill be XXXX from XX/XX/2020. Upon reviewing our online account on XX/XX/XXXX I noticed we were charged XXXX. I emailed the Mortgage team right away and they responded back saying they will reach out to the back office and rectify the error. I haven't heard from the mortgage team since then and i have been emailing and calling them every week. 

The whole process has been very very disappointing and I hate to say this but def has made me and my wife rethink our path forward with TD bank. 

If the TD XXXX  XXXX  had acted in a timely manner we would have successfullyrefinanced our home for 2.65 fixed APR.I have all the emails to support my claim. I hope your team will do what is necessary to have TD bank XXXX XXXX  rectify this from their part and offer us the lowest refinance rate and lock us in for a 15 year loan. 

Thanks, XXXX XXXX XXXX XXXX XXXX XXXX.

Company response to consumer: Closed with explanation