Consumer complaint received 2024-08-27 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: Castle Mortgage Corporation dba Excelerate Capital
State: CO

Complaint narrative:
I have numerous letters and emails to Excelerate Capital. Along with this XXXX - XXXX XXXX XXXX, which is the group that took over the mortgage, has spent over XXXX  months trying to get in touch with Excelerate Capital and had no success. Excelerate Capital has closed down its website, phone numbers, no longer does work or employee emails answered. Found that employees have gone to work for other companies or looking for work- they will not respond when contacted. XXXX has advised that I contact CFPB since they feel this is obvious signs of fraud and scams committed by Excelerate Capital. XXXX XXXX XXXX contacted me to advise that in addition to none of the original commitments being upheld by Excelerate, that Excelerate did not transfer the Escrow in full to XXXX causing the monthly mortgage payments to increase and that Excelerate is unable to be found in order to return money that is not theirs. 

Original loan creation completed in XXXX XXXX. It was changed at last minute by XXXX with promises of being corrected ASAP with new paperwork and mortgage refinance being done. The rates were to be what originally had been locked in, done in XXXX and not to exceed a specific amount. Once the incorrect paperwork was completed, Excelerate went silent, did not provide any closing paperwork to Mortgage Broker or ourselves. Myself and Mortgage Broker did not receive any closing material copies until XXXX XXXX XXXXXXXX when XXXX sought them out. In addition, leading up to the final incorrect paperwork, Excelerate had us sign XXXX different times, then said there were oversights and would provide new paperwork to be signed. 

Being that XXXX had worked with other people in our Mortgage Brokers office, and took a special personal interest to help, we put our faith and trust into them. 

Trying to keep this simple as it turned into a nightmare and something one would expect to hear/see on a show. XXXX was contacted as I had other groups contacting me saying Excelerate either sold or provided my personal information to them. In the process of trying to track down Excelerate offices in XXXX XXXX  and XXXX XXXX I ran across other families and individuals that posted complaints. These are so similar to what happened to my family and am very frustrated that a company could do this. 

Excelerate is nowhere to be found, yet XXXX says they must have a holding company somewhere that has all the escrow accounts money. 

Bottom line is XXXX XXXX XXXX has been completely supportive, despite my frustration in not understanding why they can't do anything. They have explained their position as only a manager of the mortgage and not the creator. 

I had to open up and explain why we put our trust into Excelerate and fell for their fake concern. I do not like being taken advantage of and have always prided myself on taking care of personal on my own. I was told to be open and honest with Excelerate about our position so they could assist. 

My father passed and his estate needed attention that required additional finances. During this time we unexpectedly lost a couple more family members, my wife left work to address physical complications, and then I suffered XXXX that put me on XXXX. Needless to say, a rough ride we were not expecting. Despite this, life always has challenges and I am not backing down from doing what is best to take care of my family. We are stronger than ever and know things happen in waves. 

What bothers me is I had to share all this with Excelerate. I made it clear that I would not do a refinance if it exceeded a certain TOTAL amount a month ( this includes fees, taxes, insurance, principle, etc. ). My next step was to look into cashing out policies, retirement, and whatever was needed. Excelerate assured me it would not be higher that a specific amount. 

I was then tricked that only a month or two would be higher while getting the replacement corrected paperwork done, and that my insurance would be updated. They were mad that I paid the insurance in full as they were going to close without my insurance being paid- XXXX XXXX was very concerned Excelerate would not contact them or return calls, so I took care of it. It all happened so fast and I was dealing estate, XXXX XXXX XXXXXXXX wife care, and recovering from the deaths in our family. Yes, I let my guard down and put faith into a company that sold me on how much they cared and specialized in helping those in need. 

Here is where I'm at now. After investigations by XXXX to assist, continued attempts to track down Excelerate which are dead ends, and struggling to take care of my family and commitments. 

Let me know whatever you need from me. XXXX said they will also be available for you to speak to. 

I will mark the below for you to publish for others to learn from. As in your description below, please remove any personal information and or other company information such as XXXX if it is deemed legally necessary. I trust your expertise on this.

Company response to consumer: Untimely response