Consumer complaint received 2022-12-16 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: A&D Mortgage LLC
State: FL

Complaint narrative:
In early XX/XX/2022 I sought out a mortgage for a home in the XXXX, FL area in the {$600000.00} price range. I was referred to 1st financial incorporated by my realtor. The loan XXXX XXXX XXXX informed me I could qualify for a mortgage via their 12 month bank statement program. On XX/XX/2022 Received a pre approval which stated the loan could be withdrawn if any adverse information was discovered during the verification process. At this juncture I had already submitted the previous 12 months bank statements to XXXX XXXX in order to receive the pre- approval for {$620000.00} ( see attached ). 
On XX/XX/XXXX I went under contract for the property located at XXXX XXXX XXXX XXXX XXXX XXXX for {$620000.00}. On XX/XX/XXXX, in good faith I paid for {$600.00} for an appraisal. Up until this point I hadn't received any closing disclosures. On XX/XX/XXXX I received an email from XXXX XXXX which requested I verify funds in my bank account of at least {$140000.00}. The loan program required a 15 % down payment ( {$93.00} ). I was unaware the closing cost would balloon to approximately {$50000.00}. I immediately informed XXXX that I do not have sufficient funds needed to qualify for this loan ( I have attached the email ), The same day XXXX XXXX was removed from being my loan XXXX and my loan processing was suspiciously taken over by the Branch Manager XXXX XXXX XXXX XXXX XXXX # XXXX. I received an email from her insisting I obtain the funds in order to close on the mortgage. ( see attached ) She also threatened my Escrow deposit of {$10000.00} would be at risk if I didn't move forward with the loan. This is the juncture when I assessed I may have become a victim of predatory lending. On XX/XX/XXXX XXXX XXXX notified me that the lender will not make an exception for my lack of funds and provided me with the lender conditions ( please see highlighted area in attachment XXXX investor approval ). Even after sending the lender conditions XXXX continued to insist I somehow obtain the funds to close on this loan. I requested XXXX provide me with a denial letter in order to facilitate the refund of my {$10000.00} escrow deposit from the seller. I again reiterated via email that I do not qualify for this loan and do not wish to obtain this loan. Furthermore I received four different loan disclosures with different dollar estimated needed to close. ( see attached ). XXXX again refused to provide a loan denial despite the clear acknowledgement that I do not have sufficient funds to qualify for the loan. In addition continuing to demand I proceed with a loan which I can not afford. I have sincerely tried to resolve this amicably with XXXX and 1st financial inc. to no avail. It is my belief that 1st financial inc is conducting predatory lending practices by approving individuals for loans and later on disclosing varying closing disclosures with high closing cost and fees which were never disclosed prior. The total funds of approx. {$120000.00} were disclosed on XX/XX/2022 on loan disclosure. I didn't attach this because my social security number is included on this document. It is also my assessment 1st Financial inc have violated the truth in lending act. I truly thank the CFPB for looking into this matter in order to protect customers from these unethical practices.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation