Consumer complaint received 2023-04-21 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: PROVIDENT FUNDING ASSOCIATES
State: WA

Complaint narrative:
The company Provident Funding is stalling to close my loan. They first attempted to slow the underwriting process then they refused to apply all credit ( XXXX or so ) to all fees ( gov, 3rd party, appraisal, HOA paid by seller, property tax paid by seller ). They skipped HOA and property tax which are two larger ones. Then they also purposefully ( after realtor and loan broker explained many times and I did too ) " reduce '' refund back to me by the amount of appraisal paid using my credit card ahead of time. All in all they missed XXXX dollars in refund, and XXXX dollars in remaining credit. 

I was suppose to not pay any out of pocket to closing besides downpayment because the credit I would have received covered it entirely. 

They promised ahead of time ( many evidence ) that they will let all fees and costs cover by credit, which should remain about XXXX something dollars to go into principal reduction, and XXXX appraisal spent will be refunded by escrow by lender instructions. 

However, they applied lesser amount of credit to the closing and asked me to front additionally XXXX ( HOA plus property tax paid by seller ) to closing, and while subtract XXXX from my total closing then added it back to my bill by reducing the principal reduction amount. 

By their math, I would have XXXX dollars to apply to principal amount ( loan borrowed ) since they refuse to apply full credit to my account. Hence, it should all go to principal reductions but they arbitrarily reduce that to XXXX by claiming they had refunded ( subtracted ) it off my closing payment. It is not correct because they counted XXXX in my expenses ( asked me to pay it ) then subtracted it ( effectively only cancel what was accessed incorrectly, given I paid it ahead of time already ). Hence, they incorrectly reduced my principal reduction amount from their claimed XXXX to XXXX. 

And they would not show in closing disclosure ( CD ) the total final amount of loan, they refuse to show original loan amount of XXXX subtract either XXXX or XXXX. They only would show their line numbers of the reduction amount of the incorrect XXXX and another line number my original loan amount, but refuse to have a summation of the two. 

I should be provided with the the definitiveness of it would be x amount as my final loam amount. Not to mention I would be paying extra XXXX dollars a month because of having applied it after closing instead of before closing. 

I am now short of XXXX plus going forward about XXXX dollars difference a month for 30 years. My realtor, loan broker, family and myself spent 4 days asking for changes. 

Additionally, I spent 2 weeks doing dryruns with these numbers prior to closing week, and all answers we got were lies and were not fulfilled. 

They left with no time to switch to a different rate program as they stall responses and gave frivolous answers going in circles. My closing day is on Monday XX/XX/XXXX, and I wanted to drop my rate ( for other programs on XX/XX/XXXX rate lock day ) so I would not have credit would not be applied to my fees and costs ( such as the XXXX not used to pay XXXX HOA and property tax ), so I wouldnt have to be concerned if the erroneous ( short of XXXX ) XXXX would not be " not '' applied towards my principal amount after closing ( provided there is no written promise made in CD ). 

This will also impact my decision of when to refi because I had selected a higher rate to finance verses a lower rate, with a difference of XXXX = 0.5 % thats an entire half basis point. 

Collectively, I have spent 8 hours on average communicating to them by call ( some of them never pick up ) and email ( and escalating it ) for 4 days since this occurred. And my realtor and loan broker also tried to help but they just kept lying. Prior I spent 4-8 hours daily responding to very strange questions and one of their underwriters called me to verify on my voice which is illegal. They asked me in conditions for underwriting ( UW ) regarding things like why I have credit card refunds and in XXXX and ask me to show purchase proof in XXXX when it is outside of range. Additionally, I was asked why I buy a house is of lesser value than my current home, very invasive. 

My realtor said he never seen anything nearly as unethical and absolutely ridiculous like this, clear errors and completely ignored customer on purpose. He said it a horror story that typically only you hear but never wish on your clients. My loan broker expressed the same. 

People urge me to file complaints, and hope to have an investigation started so I may have piece of mind going forward, to close this house on Monday XXXX XXXX, XXXX.

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