Consumer complaint received 2021-08-12 00:00:00
Product: Mortgage — VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: THE MORTGAGE EXPERTS LLC
State: MD

Complaint narrative:
To Whom it May Concern : Let it be known that I am a fully XXXX Veteran. 

I retained Ms. XXXX XXXX of XXXX XXXX to represent me in the purchase of a home. 

Ms. XXXX referred me to Mr. XXXX XXXX at Mortgage Experts for financing ( Loan Officer ). Mr. XXXX is under the supervision of Mr. XXXX XXXX and Mr. XXXX XXXX ( co-owners ). 

Let it be known that XXXX XXXX and XXXX XXXX are married. 

I placed an offer on a property in Maryland, provided a preapproval letter signed and dated by Mr. XXXX, and secured it with a {$5000.00} earnest money deposit, held in escrow by XXXX XXXX XXXX  XXXX. 

Mr. XXXX XXXX confirmed in writing Mr. XXXX XXXX is the assigned loan officer. 

Ms. XXXX did not advise ( or willfully withheld ) that her husband, Mr. XXXX, is not licensed to originate mortgage loans in the state of Maryland. It is illegal in Maryland for an unlicensed person to act as licensed mortgage originator, take a mortgage application, pull credit scores, prepare a loan program, prepare loan documents, counsel on mortgage products, and the like. Mr. XXXX performed all these tasks for my home purchase. 

Mr. XXXX/Mortgage Experts was unable to process my loan in a timely manner ( or at all ), and therefore I was unable to close on the property after settlement two extensions. 

Mr. XXXX/Mortgage Experts were charging exorbitant fees on my loan, as evidenced in the loan estimate. The disclosed interest rate had me bringing {$30000.00} in points to closing of which Mr. XXXX knew I did not have. 

Mr. XXXX fraudulently misrepresented funds received from my boyfriend, as a child support payment ( we do not have a child ), to further increase my qualification. Mr. XXXX took this documentation to a notary and signed it on behalf of my boyfriend and myself. Mr. XXXX has acknowledged Mr. XXXX fraudulently misrepresented these funds, and illegally signed on behalf of the borrower. 

Ms. XXXX received a unilateral termination from the Seller and did not provide me with this documentation nor notify me. 

Ms. XXXX was given two opportunities from the Seller/Listing Brokerage to resurrect the contract, to which she failed to notify me of this opportunity. She failed to respond to the Seller/Listing Brokerage.

Ms. XXXX did not respond to correspondence from the Listing Brokerage in the manner of time is of the essence. She provided misleading information and failed in her fiduciary responsibilities. She failed to properly advise me of the terms of the contract and failed to protect me under the grounds of existing contingencies. She is in full breach of duty, and negligent in her practice of real estate. 

To date, XXXX XX/XX/2021, Mr. XXXX XXXX/Mortgage Experts and Ms. XXXX have not furnished a Financing Denial Letter to the Seller/Listing Brokerage. 

As a result of Ms. XXXX negligence, I have not been returned the {$5000.00} earnest money deposit I used in good faith to secure the property. 

Mr. XXXX XXXX and Mr. XXXX XXXX offered a settlement, on the grounds that all parties involved execute a hold harmless agreement. The Sellers refused to sign a hold harmless agreement as they were not the consumer in the transaction. Therefore, Mortgage Experts would not provide reimbursement for the escrowed funds, although implying their involvement in fraudulent mortgage practices. 

Mr. XXXX and Mortgage Experts engaged in deceptive mortgage practices and made direct and deliberate false statements regarding their ability to offer a loan. 

Let it be known that Mr. XXXX has since been terminated from Mortgage Experts. Mr. XXXX no longer holds any active mortgage origination licenses in Washington, XXXX, Maryland, or Virginia. 

To this date, XXXX XX/XX/2021, Ms. XXXX has made no attempt to provide a Loan Denial Letter or assist in return of the Earnest Money funds. She failed to provide me with a Release of Deposit form provided by the Listing Brokerage, executed by the Seller.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with non-monetary relief