Consumer complaint received 2025-01-29 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Changes in loan terms during or after closing
Company: Nexera Holding LLC
State: TX

Complaint narrative:
This is the letter I submitted to the XXXX and XXXX XXXX that acted as loan broker. They responded there is no truth in lending for commercial loans which they required for a residential condo. SCAM. 

I initiated a loan payoff for the mortgage in question with XXXX and was shocked to be told the loan has a prepayment penalty now. During all stages of the loan process, I was promised the loan had no prepayment penalty and would be refinanced at little of no cost due to the terrible terms ultimately provided. I was even asked to put down an extra XXXX XXXX cash as part of this strategy to deceive and make it impossible for us to walk away from the deal and property. This is FRAUD. 
Both XXXXXXXX XXXX XXXX have refused to respond to my numerous inquiries and request for ethical resolution. XXXX was the first purchaser of the fraudulent mortgage, and this happened in days of the closing. 

I am writing to formally address a serious violation of the Truth In Lending Act ( TILA ) that occurred during the finalization of my mortgage agreement with XXXX XXXXXXXX. It has come to my attention that a prepayment penalty clause was inserted into the contract at the last minute without proper disclosure and acknowledgment. 
When I initially reviewed the loan terms and conditions, no mention of a prepayment penalty was present. This unexpected addition, introduced at such a critical phase, deprived me of the opportunity to make an informed decision and assess the full financial implications of the mortgage. As you know, XXXX requires lenders to provide clear and concise information regarding loan terms to protect consumers from unfair or deceptive lending practices. 
The introduction of this prepayment penalty clause without adequate notification and explanation constitutes a breach of TILA regulations. I respectfully request the immediate removal of the prepayment penalty from my mortgage agreement and the provision of an updated, compliant contract. Additionally, I would appreciate a written confirmation of this amendment to ensure that my rights as a borrower are fully respected. 
I trust that XXXX XXXX XXXX XXXX XXXXXXXX value their commitment to transparency and consumer protection and will take swift action to rectify this oversight. I look forward to your prompt response and resolution of this matter. 
Thank you for your attention to this critical issue. 

Final Closing document proof received AFTER XXXX XXXXrepared fraudulent deed of trust : How could you and your representative ( below ) offer a no cost refinance below if youve PROMISED no prepayment penalty. 




Other proof or inconsistency regarding truth in lending standards : Closing statement dated XXXX XXXX just like deed. You wrote no prepayment penalty and inserted a prepayment penalty in the deed simultaneously. SAME DAY! Loan fraud. 
Attorney/owner @ XXXX XXXX XXXX XXXX XXXX this is definitely loan fraud. 
XXXXXXXX XXXX XXXX down at last minute. 
NewFi has a history of legal disputes : Defendant : XXXXXXXX XXXX XXXX XXXX  XXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  - Updated XX/XX/year> XXXX https : XXXX ... Mortgage Lenders Newfi seems XXXX get good ratings from most people. But I am XXXX of them. When the company and I could not agree on terms for a refi loan ( it would not give... 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX  discrimination settlement. 

I have purchased real estate for over 40 years, and nobody even attempts to sell a loan with a prepayment penalty anymore. That you inserted XXXX fraudulently after promising for months IN WRITING not to is the ultimate in criminal intent. Busted. Fix this immediately.. 

Sincerely, 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