Consumer complaint received 2025-04-15 00:00:00
Product: Mortgage — Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Confusing or misleading advertising or marketing
Company: STOCKTON MORTGAGE
State: PA

Complaint narrative:
On XX/XX/XXXX, I was in the process of securing a cash-out refinance with XXXX XXXX for my rental property, with a rate of 7.5 %. We had submitted all required documents, including W-2s and pay stubs, and were ready to pay for the appraisal and upfront fees when I received a call from XXXX XXXX XXXX Stockton Mortgage XXXX 
On XX/XX/XXXX, XXXX XXXX contacted me, even though I had already initiated a loan with XXXX XXXX. I asked him how he obtained my information, as I hadn't contacted him. He explained that lenders are notified when a credit check is performed, which is how he got my details. I informed him that I was already working with another lender and that I wasnt interested in switching unless he could offer a better rate. He told me that Stockton offered better discounts to existing customers, as I had a previous loan with them. I agreed to proceed, gave him my information over the phone to start the application, and he told me my rate would be 6.125 %. He also mentioned that they offer a one-time float-down option if rates decrease, so I agreed to lock in that rate and told him I wanted to go with them instead. Based on this, I turned down my offer from XXXX XXXX, the lender I initially reached out to and wanted to get my loan through. 
On XX/XX/XXXX, I received an automated email from Stockton Mortgage saying, " Your journey home has officially started, XXXX XXXX! '' with information about where I was in the mortgage process but there was nothing that I needed to do, it was more of a welcome email and that my process has been started. 

On XX/XX/XXXX, XXXXXXXX XXXX  contacted me about a loan. I said I already have a rate of XXXX and I wasnt interested. He said he might be able to beat that so I said well go ahead and do the application and credit check. He did and gave me a rate of 6.5 %. I told him it didnt make sense for me to switch and go with XXXX Mortgage as I have a lower rate with Stockton . He agreed and I declined that offer and preceded to move forward with a lower rate of 6.125 % from Stockton. 

On XX/XX/XXXX, I emailed XXXX XXXX with Stockton to follow up on the next steps. I asked if there was anything I needed to gather from my end. I got No response. 

On XX/XX/XXXX, I received an automated email from Stockton stating, " Youve got a new request that is time sensitive and needs your attention '' I immediately signed the e-consent form that day and provided proof of home insurance on XX/XX/XXXX. However, on XX/XX/XXXX, I emailed XXXX XXXX because I noticed that my loan application said it was inactive. I Hadn't received any communication from him about what needed to be done next. I expressed my concerns and asked for an update. 

XXXX finally called me back on XX/XX/XXXX and said that he was sickl, which was why he hadnt responded sooner. He said the application had been marked inactive because the portal automatically closes after 5 days of inactivity. I explained that I had signed the e-consent the day the email was sent so that didn't make any sense to me. He said he would submit a new application that day. I said ok. 

On XX/XX/XXXX, I emailed him again, as the portal still showed the initial application as inactive. I asked whether I needed to re-sign the e-consent or upload more documents. I got No response. 

On XX/XX/XXXX, XXXX sent me a XXXX packet in the mail which including a loan estimate with a XXXX rate and a fax cover sheet requesting that I FAX all of the required documents over to him. At this point, I was alarmed and confused because everything had been handled electronically in the past, and this was not the process I was used to. I was very concerned and not sure why I was getting the runaround and no communication about the loan. 

On XX/XX/XXXX, I called XXXX and left a message asking why I had received a paper packet instead of proceeding online. I didnt get a response, so I reached out to other Stockton loan officers. 

On XX/XX/XXXX, I spoke with XXXX at the XXXX Stockton location, who said this was unusual and would look into it. She called back and said they would try to transfer my loan to them and keep the same terms XXXX had offered me. 

On XX/XX/XXXX, I emailed XXXX and XXXX to thank them for taking over my loan. I expressed my frustration with XXXX XXXX handling of my application, explaining that he had led me to believe my loan was being processed at the promised rate. Which I find to be unethical how a person who is licensed can do this with no recourse for their actions. 
However, after receiving an inexplicable paper packet and no response from him, I felt misled and ghosted. I also mentioned that I had turned down two other loans because of the rate Stockton had offered. 
While working with XXXX team, I found that they could not offer me the same rate that XXXX had promised. They explained that offering such a rate was impossible, as Stockton would lose significant money. At this point, I simply wanted to proceed with the loan, as I've wasted months and needed the cash out. 

On XX/XX/XXXX, I received a letter from XXXX claiming that Stockton was missing necessary documents to review my application. I felt this was another blow, slap in the face if you will, and an attempt to cover up their previous actions, especially since they had no intention of processing my loan and could not at the rate that he quoted me after he ran my credit check. And I have documentation of the loan estimate/fax and the letter after this was all said and done saying they were missing necessary documents to process my loan. 

This situation has caused me significant frustration and confusion. I believe that Stockton, and XXXX XXXX specifically, acted in bad faith. They repeatedly misled me about my loan terms and failed to follow through on the promises they made. This wasn't a simple mistakeit was gross negligence, if not outright fraud. XXXX and her office were talking with corporate and XXXX XXXX XXXX about what was going on so they were well aware I was upset and nothing was said to me. No apology or explanation. I feel I was misled, and the lenders actions were both malicious and deceitful. This was in my opinion intentional and done with malice and reckless disregard for my rights. The lender made false representations, failed to follow through, and didnt offer me an explanation or apology. 

I believe they should be held accountable for the unethical behavior, something should be done about XXXX XXXX, there is no explanation why you should call someone, deceitfully lie or mislead them. What did you get out of it? My rights as a consumer were violated and I feel what they did was illegal conduct. 

I would appreciate your advice on how to proceed and whether pursuing legal action would be worthwhile in this case. I would like to be given the terms I was promised or they should have some kind of citation for their actions.

Company response to consumer: Closed with explanation