Consumer complaint received 2025-01-29 00:00:00
Product: Mortgage — FHA mortgage
Issue: Closing on a mortgage — Delays with the closing process
Company: Supreme Lending
State: MD

Complaint narrative:
Formal Complaint Regarding My Mortgage Experience with XXXX XXXX and Supreme Lending Dear CFPB, I am writing to express my frustration and concern regarding my recent experience with Supreme Lending and my loan officer, XXXX XXXX. I initially began the process with XXXX under the impression that I was applying for an FHA loan for my home purchase. I completed all the necessary paperwork, but things began to take a troubling turn as the process continued. 

At one point, my realtor informed me that XXXX was working to secure 100 % financing for me. I agreed to this arrangement. However, XXXX later instructed me to use my down payment funds to pay off four credit cards, sell my car back to the dealership, and use the remaining funds to cover the upside-down balance owed to the dealership. I expressed my concerns that this would deplete all of my reserves and down payment money. XXXX assured me that 100 % financing would cover everything else. 

XXXX conducted a rescore, but my credit scores did not meet the required threshold. He initially told me I would close around XX/XX/XXXX, but that date passed without any closure. Then, he set a date for XX/XX/XXXX, which also came and went. XX/XX/XXXX was another date he gave me, but that did not happen either. Finally, he gave me a closing date before XX/XX/XXXX. When I called to follow up, I received no response. My realtor later informed me that XXXX was once again delaying the process. 

This ongoing uncertainty and lack of communication have caused significant emotional and mental distress. Since XXXX, my life has felt like a roller coaster. The stress level has been overwhelming, and I was unable to enjoy my family during the holidays, especially XXXX, which is my favorite time of year. This situation has led to sleepless nights, headaches, and emotional turmoil. 

The situation worsened when I received a call and an email from a new company stating that XXXX had transferred my loan to them. I did not authorize anyone to send my file to another company. I was shocked to learn that XXXX had left Supreme Lending the very day I was supposed to close, and that he had taken my file with him without my permission. 

As a first-time homebuyer, my experience with Supreme Lending has been horrific, and I am extremely disappointed by the lack of professionalism, transparency, and communication. I am also concerned about potential violations of privacy laws, as my file was shared with a new company without my consent. I dont know how many privacy protections were breached during this process. 

I do not want anyone else to go through the same ordeal Ive experienced. I request a full explanation of what occurred and how this situation will be rectified. I am also seeking clarification regarding the potential violations of privacy laws and my rights as a consumer. 

Thank you for your prompt attention to this matter. I look forward to your response and a resolution to this issue. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation