Consumer complaint received 2024-08-14 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — Closing disclosure or other related disclosures
Company: AmNet ESOP Corporation
State: TX

Complaint narrative:
On XX/XX/XXXX, we were pre-approved for the purchase of property at XXXX XXXX XXXX, XXXX XXXX, TX XXXX for the amount of {$660000.00} from XXXX XXXX XXXX XXXX under or affiliated with American Mortgage Network, an Employee Owned Company, ( ( AmNET ). XXXX XXXX was a direct contact and as well as an associate contact who represented AmNet from here on until XX/XX/XXXX, when we were not able to reach XXXX XXXX. ( please see attached email ) On XX/XX/XXXX. We received an email invite from XXXX XXXX -that they will be the assigned Escrow Agent XXXX XXXX as well as XXXX XXXX XXXX XXXX maintained this position and were the Agent who represented all parties at Closing. ( see attached ) In XX/XX/XXXX : As per AmNET -the loan was now completed pre-approval and was being moved in underwritten phase. XXXX provided a secured portal for all correspondence to the filtered through. There were several Loan Estimate during this time frame, and all were executed via this portal via XXXX. However, other supporting documents were emailed as per requests. The first Executed CD was signed on XX/XX/XXXX, via XXXX secured portal. This date indicated that XXXX undertook the loan as Mortgage Owner. XXXX remained the Lender throughout the loan process. AmNET was the Broker and documents continued to be sent via email and executed through XXXX secured portal until XX/XX/XXXX and thereafter-when XXXX XXXX and XXXX XXXX with AmNet were assigned our file. 

We were informed that the Originator changed, and XXXX XXXX became the contact. No explanation was provided of the change this was made via email communication- see email from AmNet or around XXXX XXXX. ( see email ) The Lender according to initial process; remained the same until on or around XX/XX/XXXX. 
We received several telephone calls and emails from AmNet as well as Escrow Agent that there were changes to the Closing Documents prior and on the day of closing that requires clarification. We were never provided with what the specific changes were to the CD, please see email attachments, as well as attached copies of Closing Documents ( CD ) that were received-including, on day of closing. Further, due to the time that CD was received -no proper explanation of CD was done with Escrow Agent, nor with Notary at time of closing. 

At closing on XXXX XXXX, within an hour before closing CD was sent via email from XXXX XXXX XXXX. This was not executed as the others via XXXX portal. Please note that the CD received as final in the amount were all inconsistent as regards to the numbers/figures. Please note that closing was done at our previous residence. XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX. XXXX. No copies of closing documents were given to us at the end of closing. 

On day of closing ( XXXX ), we received a call from the closing Agent who stated that the amount to close was changed -due to the Seller will not be paying taxes, however, this will be noted on our final Closing Document and this amount will be noted in the CD This new information was questioned Title Agent Commissioner as well as AmNet Agent. A generic letter was provided without indication as to what section of CD changes were made or augmented. 

This can be attested by the two wires transfers attached. These were within less than one hour on the day of closing. Since the title commitment letter was not discussed, we were not provided with reason for a CD update that involves changes to money and were not offered an explanation other than an email attachment for updated CD received via email on XX/XX/XXXX. 

Several days after closing, I called the Title Company : XXXX and requested copies of executed closing documents. These were sent to us Via UPS approximately four days after closing. 
Upon further review the Closing Document that was signed at Closing was different than what was provided to us from the Title Agent received via UPS Certified mail days after closing. ( please see copies ). Within these CDs there were differences in numbers and how these were appropriated. These new findings of Closing Documents were noted during a claim with Savings and Mortgage and Lending due to questions of escrow balance and how these were credited to our mortgage account. This was because XXXX transfer our Mortgage to be serviced by XXXX XXXX around XX/XX/XXXX. Because the escrow balance was not clear and delayed in obtaining proper assistance. A claim was initiated with Savings Mortgage and Lending of Texas. 

There were several explanations provided by Lenders that the loan amounts would have been a total of {$130000.00}. This amount changed several times ( see attached email communications ). As such, XXXX XXXX and I withdrew thousands of dollars from IRA and Retirement savings to substantiate the CD changes as were advised. If the correct amount was provided without large variance-this unnecessary withdrawal would not have been made. This created uncertainty of Tax cost in XXXX. This caused undue stress and went against our plans towards IRA withdrawals from IRA Accounts ). We seek restitution for improper information regarding the closing amount. 

Further explanation : As noted in CD dated on XX/XX/XXXX, XXXX a call received from XXXX Agent that changes to final executed CD for the amount 0f {$87000.00} ( per wire transfer ) would require an additional {$15000.00} before closing can be done. ( per wire transfer ) to substantiate and verify complaint. 

The final CD has several dollars amounts that were not discussed. For instance, Seller provided {$48000.00} in concession. It later changed to reflect {$40000.00}. As seen on CD dated XX/XX/XXXX. This amount was also debited from the Buyer as per ( CD ). And shows a Credit back to the Seller. There are other clarifications that were never discussed prior to closing. Because of the changes and undue stress presented until day of closing and wanted to complete our purchase of our home. We wanted to take some time to de stress before re-approaching XXXX for clarification. Since XXXX XXXX in now the Servicer-we had to contemplate the next step. Since XXXX mentioned it in their response- and according to TRID ( TILA-RESPA Integrated DISCLOSURES ) regulations in which you provide consumer oversight. 

XXXX Escrow Agent called and provided necessary assistance while XXXX XXXX XXXX was at XXXXXXXX XXXX to verify Wire Transactions. In addition, XXXX XXXX XXXX advised that Seller wants the Tax payment to be made prior to closing, as such, change was made and an additional change to closing cost. Although less than {$130000.00}. This was questioned via email with Escrow Agent and XXXX XXXX. ( see email ). 
Combined Tite was received via email on XXXX XXXX at XXXXXXXX XXXX-closing was done at approx. XXXXXXXX XXXX at XXXX XXXX XXXX XXXX XXXX XXXX TX XXXX. ( See attached email communication on XX/XX/XXXX XXXX XXXX XXXX requesting CD for review and for closing. 

An updated CD was received on XX/XX/XXXX. ( See attached ). We questioned as to why this email was not sent to us from AmNet but by XXXX. ( see email ). Why was this email not sent by AmNETs representative with a detailed explanation Additional Information : Dates of closing documents as executed documents by XXXX XXXX and I : XX/XX/XXXX ; XX/XX/XXXX ; and at day of closing was a final and not executed dated on XX/XX/XXXX. This contradicts the executed document as mentioned above, dated XX/XX/XXXX, XXXX of signed and executed documents. 

Date of Closing was completed at : XXXX XXXX XXXX XXXX XXXX, XXXXXXXX XXXX XXXX XXXX XX/XX/XXXX. Please find CD dated : XX/XX/XXXX. Date XXXX ; Closing Date XX/XX/XXXX ; Disbursement date XX/XX/XXXX.. 

FURTHER ENQUIRES : As per Escrow ( XXXX provided explanation of what we deemed inconsistencies. A better approach to documentation should be implemented. 
On XX/XX/XXXX or there about, a letter from XXXX was received that servicing of Loan would be made going forward from the month of XX/XX/XXXX. XXXX. A call made to XXXX and to XXXX, XXXX XXXX. An explanation was presented that transfer will be done on XX/XX/XXXX. In addition, that XXXX Mortgage payment should be made to XXXX XXXX. ( See attached ). XXXX have provided copies to confirm this communication. 
Follow-up calls were made to XXXX and XXXX XXXX regarding when documents will be uploaded into the repository. It was explained that it would take 60 days and that I should call again to verify receipt of all documents. A follow-up call was made to XXXX and XXXX XXXX XXXX, XXXX the information was not accurately stated. Because the Final Escrow Resolution Report received from XXXX showed inconsistencies, follow-up calls were initiated several times to clarify information in the report. 

Escrow deposits : - XX/XX/XXXX, payment was made in XXXX XXXX, XXXX. Escrow was updated in XXXX. 
XX/XX/XXXX payment was received on XX/XX/XXXX, XXXXEscrow updated XX/XX/XXXX. 
XX/XX/XXXX received in XXXX XXXX Escrow updated in XX/XX/XXXX. 
XXXX UWMs explanation : there was no actual payment for XXXX contradicts your prior explanation. 
Between XX/XX/XXXX and XX/XX/XXXX an additional amount of {$4000.00}. Was made to Principal balance. 
XXXX XXXX payment was made in XXXX XXXX XX/XX/XXXX mortgage payment was processed by XXXX XXXX. ( first payment to new Servicer ). Escrow was updated in XX/XX/XXXX. 
Because of miss appropriation of information on the communication process which is still stressful relating to this conventional loan -please note that I called XXXX XXXX and checked FHA website to understand who manages the Loan, and Services by XXXX XXXX XXXX 
Update : as of date XXXX XXXX has updated how they present their report. 

Thank you for the attention provided to this claim., kindly advise if I could provide any addition documents to support this investigation. 

Our contact telephone is XXXX. Email : XXXX. 


Thank you XXXX XXXX XXXX and XXXX XXXX XXXX

Company response to consumer: Closed with explanation