Consumer complaint received 2025-11-11 00:00:00
Product: Mortgage — FHA mortgage
Issue: Closing on a mortgage — Trying to communicate with the company to fix an issue with the loan closing
Company: eMortgage Funding LLC
State: AZ

Complaint narrative:
Dear sir/ma'am, I got a call from XXXX XXXX , a loan officer of eMortgage Fundings, telling me he was able to help me lower my interest rate on my current loan. I told him that I was not able to refinance my mortgage at the moment without the prepayment penalty. Then he told me that he would contact XXXX, my previous mortgage company, to make sure they allowed me to refinance. He got back to me the next day telling me XXXX had allowed me to refinance, which I assumed they would waive the penalty. However, XXXX admitted to me at the final signing that he did not know about the penalty until the closing. If I had known that I would still have to pay the penalty, I would have never begun the loan application in the first place. The reason why I moved forward with the loan was because of the wrong information from their employee about the penalty. 

At first, XXXX offered the interest rate at 4.9 % which lowers my previous monthly payment to {$1000.00} difference. Hence, I was so excited to begin the loan process with his company. However, due to my financial situation, 4.9 % interest rate was not the case, but it kept going up and up and eventually at 7.125 %, which I was not very happy about. In particular, every time XXXX sent me loan documents to review and sign, I was not very happy with the numbers I saw, especially the {$22000.00} closing costs and the skyrocketed loan amount. I really wanted to stop the process, but XXXX kept telling me that these numbers would be much lower in the final documents. I trusted him, so I continued the process. 

Then a few days before the closing, XXXX XXXX talked to me about the final numbers concerning the closing costs. He offered to give me {$4600.00} something sent to me to help with the closing costs instead of lowering the closing costs in the loan. I agreed with that, but I did not know exactly how much the closing costs and the loan amount were. XXXX promised to send me the final documents before the signing on Friday XX/XX/XXXX, but he never did. If I had seen the final documents beforehand, I would have found out why the loan amount was too high ( due to the prepayment penalty ) and hence would have canceled the signing. 

Not until the notary came to my house for signing that I saw all the numbers. I was able to talk to XXXX and questioned him about all the numbers and thus I found out about the prepayment penalty. I told him that I dont want to move forward. However, he tried to manipulate me and tell me to just sign everything to get the loan done and he promised to work with XXXX on the following Monday XX/XX/XXXX to ask if they could waive the penalty, until then should I cancel the loan. I was trying to talk to XXXX on Monday and he asked me to wait until the end of the day to get the final answer. Yet, he did not give me a call back. Tuesday XX/XX/XXXX, I had to call XXXX and talk about the issue. They said they would not waive the penalty but they asked me if I could wait for four more months to refinance so I wont have to pay for the penalty. 

Then I called XXXX again. Luckily he picked up the phone ( which is not always the case ). So, I explained to him that if only four more months, I wanted to wait until then to refinance so I wouldn't have to pay the penalty and plus I would be in a better financial situation until then ( Being able to use my tax returns of XXXX and XXXX that show higher income than my tax returns of XXXX and XXXX if I do the loan now ), so I would be able to lower my interest rate by going with a conventional loan instead of a bank statements loan and also lower the closing costs and the loan amount. XXXX agreed with me and I promised to come back to eMortgage when it is time. Then I asked XXXX what I had to do to cancel the loan and he said he would take care of that for me. Then two hours later I texted him to make sure the loan was canceled and he did tell me that it was canceled. 

On Wednesday XX/XX/XXXX, I was trying to call XXXX again to make sure the loan was canceled. He never answered my call. I called XXXX but he was not in the office that day. Then the next day, I called XXXX again and again and still no answer. I called XXXX and he said I had to submit the form with my signature. So, I sent the form to him and XXXX on that same day. Then the next day, I called again and XXXX told me it was too late now to cancel because I had to submit the form by midnight Tuesday XX/XX/XXXX. I was so disappointed. The reason why I did not do the form on Tuesday XX/XX/XXXX is because XXXX told me he would take care of that for me and confirmed with me later that day that it was canceled. 

If XXXX had told me to submit the form, I would have done it right away before midnight of XX/XX/XXXX to make the cancellation on time. It was because of the misinformation from their employees again plus his unresponsiveness to my calls and texts that I could not cancel my loan. 

I was not very happy about what happened. The new loan added $ XXXX to my debt ( from {$330000.00} to {$380000.00} ). Thats why I wanted to cancel the loan and redo it in 4 months. Now I cant do anything about it because it is already closed. But this is not my fault but the fault of their employees as I have explained above. I was forced to sign the loan against my own will because of their false information and promises. 

I contacted them afterward and they had XXXX and XXXX help me to do the loan again and promised that I would not have to pay anything except a few required things, which I truly appreciate. Yet, after seeing the final numbers, I was not happy because it added more money to my loan amount still. Doing the loan again does not resolve the problem because I am literally losing so much money. I am having a lot of financial hardships and the increase of $ XXXX in debt just is driving me crazy and adding more stress to my life. 

I am asking them to be responsible for what happened to me. I had to close this loan against my own will due to the misinformation and unresponsiveness of their employees from the beginning to end. I felt like I was being deceived by their employees. Interestingly, XXXX and XXXX, the two guys who did my loan, left the company shortly after they closed my loan.

Company response to consumer: Untimely response