Consumer complaint received 2025-01-23 00:00:00
Product: Mortgage — FHA mortgage
Issue: Closing on a mortgage — Trying to communicate with the company to fix an issue with the loan closing
Company: Central Mortgage Funding, LLC
State: NJ

Complaint narrative:
To the State of New Jersey, I am reaching out today regarding a recent refinancing of my property, which has left my husband and me feeling misled and dissatisfied with the transaction. 

I want to begin by highlighting that I received a call through a trigger lead from Central Mortgage Funding. Unfortunately, this refinance did not provide any net tangible benefit for us as borrowers. Several days prior to the closing, my processor forwarded the closing disclosures to me. Upon reviewing the documents, it became apparent that the cash amount allocated to the US was $ XXXX. Given that we had requested $ XXXX for closing costs. I promptly communicated this concern to XXXX, our proc, expressing that $ XXXX would not be sufficient for us to proceed with the loan. XXXX then arranged for her manager, XXXX, to speak with me. During our conversation, I reiterated that proceeding with the loan did not seem financially viable for us. However, I was informed by XXXX that I was approved for an additional $ XXXX beyond the initial $ XXXX, leading us to agree to move forward with the loan. 

I was instructed to sign the closing disclosure, and the closing took place as scheduled on Thursday. The paperwork presented at the closing mirrored the details outlined in the closing disclosure. I operated under the assumption that the additional $ XXXX would be included in the funding, and any necessary paperwork adjustments would be made subsequently.. However, when funds were not received by Mon, XX/XX/XXXX, I contacted my LO, XXXX, who informed me that the funding would occur on Tue, XX/XX/XXXX. Despite this assurance, I found that only the initial $ XXXX had been disbursed, with no sign of the additional $ XXXX. 
This situation has placed considerable financial strain on us, and we are seeking a prompt resolution to address this issue. We are now over six months into this mortgage, and we are facing increasing difficulty in meeting its terms. I have emails and documentation that demonstrate they did not honor their agreement. 
It has also come to my attention that this company has received a consent order from the state of Connecticut. I have a copy of the consent order, which I can provide if needed. I am extremely dissatisfied with the level of service this company has provided, not only to me but to the community as a whole. There are numerous complaints filed against them with the CFPB. As a result, I will be updating my XXXX review to reflect these issues. Furthermore, every person I have worked with at the company has been let go. I was directly informed by email from XXXX that Central Mortgage Funding , LLC will no longer honor the agreement we made in XXXX. 


Sincerely, XXXX and XXXX XXXX XXXX sent To XXXX XXXX XXXX XXXX XXXX, I am writing to you today to review the below case I had opened with Central Mortgage Funding , LLC back in XXXX. It has also come to my attention that this company has received a consent order from the state of Connecticut. I have a copy of the consent order, which I can provide if needed. I am extremely dissatisfied with the level of service this company has provided, not only to me but to the community as a whole. There are numerous complaints filed against them with the CFPB. As a result, I will be updating my XXXX review to reflect these issues. Furthermore, every person I have worked with at the company has been let go. I was directly informed by email from XXXX that Central Mortgage Funding , LLC will no longer honor the agreement we made in XXXX. The issue is outlined below, and I have resubmitted my complaint to the state of New Jersey. 
I am reaching out today regarding a recent refinancing of my property, which has left my husband and me feeling misled and dissatisfied with the transaction. 

I want to begin by highlighting that I received a call through a trigger lead from Central Mortgage Funding. Unfortunately, this refinance did not provide any net tangible benefit for us as borrowers. Several days prior to the closing, my processor forwarded the closing disclosures to me. Upon reviewing the documents, it became apparent that the cash amount allocated to the US was $ XXXX. Given that we had requested $ XXXX for closing costs. I promptly communicated this concern to XXXX, our proc, expressing that $ XXXX would not be sufficient for us to proceed with the loan. XXXX then arranged for her manager, XXXX, to speak with me. During our conversation, I reiterated that proceeding with the loan did not seem financially viable for us. However, I was informed by XXXX that I was approved for an additional $ XXXX beyond the initial $ XXXX, leading us to agree to move forward with the loan. 

I was instructed to sign the closing disclosure, and the closing took place as scheduled on Thursday. The paperwork presented at the closing mirrored the details outlined in the closing disclosure. I operated under the assumption that the additional $ XXXX would be included in the funding, and any necessary paperwork adjustments would be made subsequently.. However, when funds were not received by Mon, XX/XX/XXXX, I contacted my LO, XXXX, who informed me that the funding would occur on Tue, XX/XX/XXXX. Despite this assurance, I found that only the initial $ XXXX had been disbursed, with no sign of the additional $ XXXX. 
This situation has placed considerable financial strain on us, and we are seeking a prompt resolution to address this issue. We are now over six months into this mortgage, and we are facing increasing difficulty in meeting its terms. I have emails and documentation that demonstrate they did not honor their agreement. 

I have all documents needed as well as emails.

Company response to consumer: Untimely response