Consumer complaint received 2026-03-30 00:00:00
Product: Mortgage — Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Loan estimate or other related disclosures
Company: HomeXpress Mortgage Corp.
State: TX

Complaint narrative:
Complaint Against : HomeXpress Mortgage Corp. and XXXX XXXX XXXX XXXX I am submitting a complaint regarding a XXXX ( Debt Service Coverage Ratio ) loan that was originated using materially inaccurate underwriting inputs and is now being serviced in a way that has caused significant financial harm. At the time of underwriting in XX/XX/2024, I was informed via broker communication that approximately $ XXXX in rent was required to qualify for the loan. However, the lenders own appraisal, dated XX/XX/2024 ( signed XX/XX/2024 ), estimated market rent at only $ XXXX based on long-term rental data. Additionally, underwriting relied on prior homestead tax values of approximately $ XXXX, which were not applicable to my LLC-owned investment property. Prior to closing, a XXXX Notice of Appraised Value dated XX/XX/2024 was issued by the XXXX XXXX XXXX XXXX and sent to my LLCs registered agent, reflecting estimated annual property taxes of approximately {$6100.00} ( ~ $ XXXX ). This information was available prior to closing but was not used in underwriting. The property is located in a neighborhood where short-term rentals are not permitted, which further limits achievable rental income. Despite this, the loan appears to have been underwritten using rental assumptions that are not supported by the appraisal or the propertys permitted use. Following servicing transfer and escrow correction by XXXX XXXX, my monthly payment increased from approximately {$4900.00} to over {$6300.00}, and a retroactive escrow shortage of approximately {$8900.00} was imposed. Default interest increased to approximately 18 %, and foreclosure proceedings were initiated. Despite these issues, I made good-faith efforts to perform on the loan and paid approximately {$1300.00} {$1600.00} above the original payment for approximately seven months, even while the property was vacant and transitioning from renovation to rentable condition. I ultimately defaulted after being informed that partial payments would not be accepted during a seasonal income slowdown. I submitted a formal Notice of Error to XXXX XXXX. Their response addressed escrow mechanics but did not address the underlying underwriting discrepancies. HomeXpress has not provided the XXXX calculation or supporting documentation despite multiple requests. I am requesting : -A full review of the underwriting file, including DSCR calculations and supporting inputs Correction of the loan to reflect accurate property taxes, insurance, and achievable rental income -Reversal or credit of escrow shortages, default interest, and related charges caused by inaccurate underwriting assumptions -Suspension of foreclosure activity while this matter is under review This loan was structured using inputs that do not reflect the propertys actual operating characteristics, and I am seeking a resolution that corrects the financial harm caused.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation