Consumer complaint received 2017-09-25 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: CITIBANK, N.A.
State: NJ

Complaint narrative:
In XXXX XXXX my sister and I purchased our family home from our parents for {$310000.00}. We share a XXXX ownership and are both on the title and original loan. We used XXXX XXXX XXXX XXXX XXXX located at XXXX XXXX  XXXX, XXXX XXXX, XXXX XXXX, NJ XXXX Phone # XXXX. At time of closing the Lender was XXXX XXXX XXXX, XXXX. XXXX XXXX XXXX XXXX, XXXX XXXX, XXXX, TX XXXX. 

In XXXX XXXX we decided to refinance and used the same Title company and Lender as stated above. Once again my sister and I provided proof of our incomes and all other requested documents. We were given a closing date of XXXX/XXXX/XXXX. We arrived at closing and signed all Documents for the 1st Mortgage {$330000.00}. For some reason the 2nd Mortgage for {$51000.00} documents were n't ready and we were told to come back on XXXX/XXXX/XXXX for the 2nd closing. We did so and both signed all documents. We received all Payoff and Excess cash to close checks during this second closing. 

Our first mortgage was sold tXXXX XXXX XXXX XXXX. Our 2nd mortgage was sold to Citimortgage. Somehow during this change of Lenders my sisters name was left off of both  Loans. When I inquired about it to both Lenders they new nothing of the shared ownership or of my sister being on the Loan. I contacted the Title Company and the Original Lender. Wanted to know why I was the only one on the Loan when both incomes were supposed to be used. Never got a satisfactory answer or explanation. 

At this point I felt stuck in the situation. During each Closing we were never told or given a fully understandable explanation about the ARM and Fixed interest rates on these 2 mortgages. The first mortgage was refinanced to {$330000.00} and was an ARM@6.250 % for 360 months. This Loan was held by XXXX XXXX XXXX for 7 years then sold to XXXX. Neither lender would refinance after we tried multiple times. Finally in XXXX XXXX after 10 years we were able to refinance the 1st mortgage with XXXX Loans whom we are extremely happy with. They attempted to consolidate both 1st and 2nd Mortgages into 1 Mortgage Loan but Citimortgage refused. The 2nd Mortgage with Citimortgage was for $ XXXXXXXX7.995 % fixed higher than the first for 180 months ( 15 years ). In 10 years only {$6800.00} has gone to the principal. Leaving a balance of {$44000.00}. How is this balance supposed to be paid off in 5 years with {$370.00} monthly payments? 

My main complaint would be with 3 entities ; 1. XXXX XXXX XXXX XXXX XXXX located at XXXX XXXX  XXXX, XXXX XXXX, XXXX XXXX, NJ XXXX Phone # XXXX. This office is now closed and all records are in storage. I requested copies of my closing files while trying to refinance. Received my records from XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, NJ XXXX. 2.  Lender was XXXX XXXX XXXX, XXXX. XXXX XXXX XXXX XXXX, XXXX XXXX, XXXX, TX XXXX. 3. Current Lender of 2nd Mortgage, CitiMortgage, Inc. XXXX. XXXX XXXX XXXX XXXX, SD XXXX XXXX.

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