Consumer complaint received 2015-12-16 00:00:00
Product: Mortgage — FHA mortgage
Issue: Application, originator, mortgage broker — 
Company: SUMMIT FUNDING, INC.
State: CA

Complaint narrative:
My husband and I tried to refinance our home XX/XX/XXXX. We went through the process with a lending company, provided our personal information, paid for the property appraisal and by XX/XX/XXXX or XX/XX/XXXX we were told that everything was just about complete and ready for final approval. So In XX/XX/XXXX I call the finance person handling our loan since we were approved and a check was being cut to pay off the current mortgage company, was it necessary to pay our XX/XX/XXXX mortgage and we were told no, to hold on to it. ( I have the email message pertaining to this ). A week later we were still waiting for final approval and the finance company needed additional information, which we provided and we were told everthing was going well that we should have final approval by the end of the week. We contacted the company again and more information was required, now it was our credit report and we were told that we needed to pay down one of our credit cards in order to get our credit score to rise. So we paid {$500.00} on one of our credit cards as requested. By now it 's XX/XX/XXXX. From XX/XX/XXXX to XX/XX/XXXX our credit file had been reviewed by this finance company over 6 times causing negative or points being taken off our credit score. XX/XX/XXXX I called our current mortgage company to explain what was going on and we were informed that they had reported that our mortgage payment for XX/XX/XXXX was 30 days late. I called the finance company that was processing our refinance and explained to him what was going on with the mortgage company and he claimed that he never told us not to pay our mortgage for XX/XX/XXXX and that this negative mark on our credit report would more then likely not help our refinance. After this conversation we did not hear back nor receive anything from the finance company until 30 days later. We received in the mail a letter stating that our refinance loan was approved but not used. So I called the person that was helping us with the refinance loan and he had no ideal what the letter meant, that he would look into it and get back to us, he never did. We also contacted him concerning the negative marks on our credit report from the many unecessary times that they had to run our credit report and the negative mark from the late mortgage payment, he said that he would assist with writting a letter concerning what had transpired, he never did. He referred us to a credit repair company which is now going to cost us {$1500.00} to repair the mess caused by this finance company 's lack of follow through. So now we are out of the {$470.00} appraisal fee, {$500.00} to pay down the credit card, additional fees charged by our mortgage company for the late mortgage payment, negative credit ratings and being required to pay {$1500.00} to fix something that the refinance company was responsible for due to their bad advise and unorthodox operating procedures, which has left our family with a financial headache.

Company public response: Company can't verify or dispute the facts in the complaint
Company response to consumer: Closed with explanation