Consumer complaint received 2024-10-29 00:00:00
Product: Mortgage — VA mortgage
Issue: Closing on a mortgage — Changes in loan terms during or after closing
Company: Mortgage Research Center, LLC
State: PA

Complaint narrative:
XX/XX/year> after our offer was accepted by the seller, we were told our interest rate would be 5.75 % by our lender with veterans united, XXXX XXXX. He verbally asked if we would like to lock that rate on XX/XX/year>. My husband, XXXX XXXX and I both said " yes '', lock that rate. We were very excited about a 5 anything rate, since when we placed an offer in on a house a few weeks prior our interest rate would have been 7 something. The loan officer stated the rates may drop more and we might not want to lock, we said, No lock the rate. We electronically signed the documents not even noticing the lender selected " No '' to locking the rate. 
Fast forward to XX/XX/year> XXXX tries telling us congratulations on your 6.25 % interest rate we are all ready to finalize this loan and close it next week. My husband right away questions what happened to the 5.75 % interest rate? XXXX tells us he did not lock the rate because he was certain the interest rates were going to continue to drop. XXXX was wrong and the gamble he took on my family 's behalf did not pay off. My husband and I were extremely upset. XXXX XXXX admitted to him mistake right away and said he would try to make it better. He went to his supervisor XXXX XXXX. XXXX spoke with my husband and said they would get the rate down to 5.99 % by taking the commission they should have made on the loan and paying our loan down, but there was nothing else she could do. She also said, " she knows how we feel because she has a XXXX mortgage with a 7 % interest rate ''? Then I spoke with XXXX and explained the 5.99 % was not good enough, that they needed to correct their error. She lied and said federally she could do nothing else. She also just kept telling me we can refinance our mortgage. I told XXXX a refinance costs additional money and that is another gamble on my family 's behalf that interest rates will actually drop. I explained that their error will cost my family over a 30-year mortgage {$21000.00} and that they needed to fix it. I was told no one keeps their 30-year rate so my numbers are inaccurate. XXXX XXXX apologized for the error but basically told us " OH well '' in the most unprofessional way possible. My husband has been in the military for 12 years now and has earned the right for a VA loan- Veterans united and their error made our home buying experience this time around miserable. We are all human and make mistakes- but when you know you messed up, fix it. XXXX admitted to the error and his supervisor didn't care. I will forever tell anyone I know to stay far away from Veterans united- they cost my family over XXXX and treated us like trash. Also, XXXX and XXXX would only admit their error to us over the phone- but they also admitted this error to our realtor XXXX XXXX so we do have another person that can back us since apparently, they can't record our calls.

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