Consumer complaint received 2025-02-03 00:00:00
Product: Mortgage — Reverse mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Loan estimate or other related disclosures
Company: South River Mortgage, LLC
State: AL

Complaint narrative:
Subject : Formal Complaint Against South River Mortgage & XXXX for Violations of Consumer Protection, Contract Law, Real Estate Law, and Elder Financial Abuse Laws I. Introduction I, [ Your Full Name ], am filing this formal complaint against South River Mortgage , LLC, XXXX, and any associated entities for serious violations of federal and state laws, deceptive lending practices, financial elder abuse, predatory mortgage lending, and failure to comply with contractual obligations under Alabama Homestead and Consumer Protection laws.

This complaint requests an immediate investigation, legal enforcement actions, potential rescission of the fraudulent loan contract, and financial restitution for
the unlawful practices committed against me.

II. Summary of Violations South River Mortgage and its loan servicing partner, XXXX, have engaged in multiple violations of federal and state laws including, but not limited to : 1. Federal Truth in Lending Act ( TILA ) Violations ( 15 U.S.C. 1601 et seq. ; Regulation Z, 12 C.F.R. Part 1026 ) Failure to provide clear and conspicuous disclosures regarding loan costs, interest rates, and settlement fees. 
Misleading disclosures regarding total finance charges and how they would impact the remaining equity of my home. 
Excessive hidden fees and failure to explain the true costs of the loan in writing before execution.

Improper GFE ( Good Faith Estimate ) that concealed substantial costs beyond the 10 % tolerance rule.

2. Unfair and Deceptive Acts and Practices ( UDAP ) - Federal Trade Commission Act ( 15 U.S.C. 45 ) Charging me over {$27000.00} in settlement fees for a {$36000.00} loan, constituting predatory lending and financial exploitation. 
Falsely representing loan terms by inflating closing costs and providing an interest rate significantly above industry standards ( 9.675 % vs. normal 5-7 % ).


Failing to act in good faith and fair dealing, in violation of UCC 1-304. 3. Elder Abuse & Financial Exploitation ( 42 U.S.C. 1397j ; Ala. Code 38-9-8 ) Targeting me as an elderly homeowner with deceptive financial products designed to drain my home equity while providing minimal benefit.

Structuring the loan to force early foreclosure or depletion of assets, which violates financial elder abuse protections.

4. Real Estate and Homestead Violations ( Ala. Code 6-10-3 ) Failure to obtain spousal consent for a homestead mortgage contract potentially invalidates the mortgage under Alabama law .

Improper loan servicing transfer from XXXX XXXX XXXX XXXX to XXXX without my clear acknowledgment or consent. 
Failure to disclose potential tax liability and risks associated with the loan potentially leads to foreclosure. 
5. Unconscionable Contract & Predatory Lending ( UCC Article 2-302 ) Excessive and one-sided fees designed to maximize lender profits while stripping me of home equity.

Misrepresenting repayment terms and hiding key financial details in legalese and fine print.

Company response to consumer: Closed with explanation