Consumer complaint received 2022-10-05 00:00:00
Product: Mortgage — FHA mortgage
Issue: Trouble during payment process — 
Company: PREMIUM MORTGAGE CORP
State: NY

Complaint narrative:
XX/XX/2022 : Closed Mortgage- Officially recorded with XXXX XXXX XX/XX/2022 : Received text message from XXXX ( Loan Officer ) asking to call because there was a backend issue with the mortgage XX/XX/2022 : Conference call with XXXX and XXXX XXXX XXXX XXXX lapsed, and that our loan was not sellable/insurable, and that we need to refinance ASAP. They were going to use all of the materials to proceed, credit report, bank statements, etc. however, would need updated paystubs. For the inconvenience they were going to reduce our interest rate by XXXX a point, and cover all costs. It was also never proposed as an option. When I started crying asking what happens if we dont qualify, they stated well cross that bridge when we get there. It was relayed that this was THE ONLY option we had. 

XX/XX/2022 : Sent updated paystubs XX/XX/2022 : Received an email stating the following : XXXX XXXX and XXXX just got an updated credit auth link from mewe are not pulling new credit at this time-we are using the report from your previous file, but need to show that we had permission for that report. Can you accept the authorization so I can push your file forward. 
Thanks so much for signing so quickly-hopefully it will fly from here on. 

Let me know if you have any immediate questions. Thanks again for your cooperation! 


XX/XX/2022 : Received a call from XXXX who was unsure what was going on. Stated Premium requested another appraisal with the old owners information as the seller and is as the buyer, and it wasnt marked as a refinance, and the XXXX was under the impression from Premium that we just refinanced to a lower interest rate. I contacted Premium and they fixed it. 

XX/XX/2022 : XXXX comes out and redoes appraisal. 

XX/XX/2022 : Receive clear to close XX/XX/2022 : Receive email stating credit was pulled and to confirm new inquiries/debts XX/XX/2022 : Receive another email stating : XXXX XXXXYour credit should not have been pulled. I will look into this from my end and get back to you ASAP. 

XX/XX/2022 : Received another email stating this was a soft pull and I could speak with a manager if I felt uncomfortable. 

Replied to that email stating we would not be agreeing/signing anything further until speaking with an attorney. 

Received call from XXXX XXXX stating that she was not made aware of the license issue from the beginning. That this was disclosed as a refi due to an error with recording. We explained that we were absolutely not signing any loan modification. She stated that she is not a litigation lawyer and that we would need to obtain one if we wanted to pursue the matter. She also let us know that she technically represents us and the bank.

Received email from Premium Mortgage asking us to get on a conference call with them and their managers. We did not reply.

Received 2 calls from Premium back to back. Ignored both.

Received email from Manager explaining this was a soft pull, we have given permission ( contrary to other emails ) and that they need to close this file so we will need to send them our new debt statements. 

Replied that we will not be moving forward with the refinance. 

Replied that we will be seeking out a litigation, additionally will need information on how to make the first mortgage payment. Also, if Premium will be servicing the loan, and it can not be an FHA loan as it was intended and is not insurable, will MI be removed from our loan?

Company response to consumer: Closed with explanation