Consumer complaint received 2021-07-18 00:00:00
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: BROKER SOLUTIONS, INC.
State: MN

Complaint narrative:
There were false, misleading, and predatory lending actions and practices from the lender, New American Funding. The loan officer who processed my application was " XXXX XXXX, Sr. Mortgage Banker, NMLS # XXXX ''. XXXX attempted to take advantage of me and rip me off with his misleading and false statements. XXXX would take information from me over the phone and give me verbal quotes for figures such as rate, payment, total cost, cash back and make a verbal deal with me. Then, the written quotes that XXXX would send me did not match the verbal quotes he gave me. For example, on XX/XX/XXXX I emailed XXXX a quote from a competing lender. I sent XXXX this information from his competitor upon his request as he promised to beat them on total cost. We specifically talked about the amounts I owed and the fact that I wanted cash back of {$10000.00} in pocket. XXXX took the competitor 's quote, called me back later, and gave me figures that beat the competitor XXXX XXXX. I told XXXX at that point I would go with him since he quoted me better figures that his competitor. When I received the final disclosure from XXXX on XX/XX/XXXX it only had cash back of {$4300.00}. I called XXXX to complain and he had no explanation as to why I did not have the requested {$10000.00} cash back built into the loan as we discussed. XXXX had his boss, XXXX XXXX, call. XXXX claimed to be a supervisor and immediately began yelling at me and trying to bully me with high pressure sales tactics. XXXX asked me what I was disputing and when I told him I was promised {$10000.00} cash back, he responded that I could have {$6600.00} cash back only. I asked him why and how he could immediately move from {$4300.00} to {$6600.00} cash back and he had no reason and only continued to yell at me and threaten to cancel my loan. At that point, I had enough of New American Funding 's bullying tactics and advised XXXX I would go with their competitor, XXXX XXXX. XXXX said his customer service department would call me, which they did the next business day. I talked to the customer service rep on Monday, XX/XX/XXXX, and reiterated my complaints that I had lodged with XXXX and XXXX. The customer service rep, XXXX XXXX, had no answer as to why XXXX could somehow magically and immediately find an additional {$2200.00} as cash back in my pocket the moment I complained. When I advised XXXX that it appeared clear to me that his company was trying to take advantage of me and pad their bonus and commission by ripping me off, XXXX had no explanation. XXXX threatened to close my application within two weeks if I didn't accept New American Funding 's incorrect and fraudulent loan offer, which is incredible considering the circumstances. I told XXXX that I was going with XXXX XXXX as I felt New American Funding was dishonest and tried to ripe me off and take advantage of me. XXXX advised he would call me back on Wednesday, XX/XX/XXXX, after researching this and provide answers. Not surprisingly, XXXX never called me back. However, XXXX called me back on Tuesday, XX/XX/XXXX, trying to browbeat me to reconsider closing with New American Funding and then he started to badmouth XXXX XXXX. When I told XXXX XXXX would go with XXXX XXXX to fund my loan, XXXX started to email me and threaten to cancel my loan. I emailed XXXX back on Wednesday, XX/XX/XXXX, that I was going with XXXX XXXX, to which XXXX responded that my application with New American Funding was closed. XXXX did email me the XX/XX/XXXX disclosure, which now showed the {$6600.00} cash back at closing with no explanation as to why the amounts increased.

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