Consumer complaint received 2024-11-04 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Application denials
Company: United Shore Financial Services, LLC
State: MN

Complaint narrative:
This complaint is regarding the unjustified withdrawal of my loan, and the misinformation and misrepresentation made by XXXX XXXX, who was my Account Executive at UWM ( United Wholesale Mortgage ). I am an XXXX, formerly an employee of XXXX XXXXXXXX XXXX XXXX 
On Monday, XX/XX/XXXX I found a home I wanted to purchase and pre-qualified myself in the UWM ( United Wholesale Mortgage ) portal. On the UWM portal I received an _approve/eligible with the interest rate of 5.124 % and was thrilled. On the UWM portal, I locked the rate that same day on XX/XX/XXXX. I had same property signed purchase agreement on XX/XX/XXXX and was unable to access my UWM portal to upload my documents for processing. On Monday XX/XX/XXXX XXXX XXXX called and congratulated me. On or about XX/XX/XXXX XXXX called me and said it was a, " UWM Overlay '', and stated I was prohibited from originating my own loan, but no problem internally ( at UWM ) to move my loan to XXXX XXXX, who is another mortgage loan originator at my [ XXXX XXXX XXXX XXXX stated XXXX has more UWM points and can get it done faster with him and XXXX will get more UWM points for doing so. On or about XX/XX/XXXX my former boss approved, but sent a text message stating he didn't know what XXXX was talking about. XXXX and myself had a conference call with XXXX to have him walk us through the transfer of my approve/eligible loan file, so that we would be sure to have it done correctly and wouldn't lose my rate lock. XXXX was largely unavailable to assist, as several calls were made to him and none were at a time when he could assist. On Friday XX/XX/XXXX XXXX withdrew my loan. On XX/XX/XXXX I got fired for " not knowing better than to originated my own loan ''. 
XXXX gave untrue information to me and my employer, resulting in the withdrawal of my loan and loss of rate lock. I found, in my future calls to his UWM boss, XXXX XXXX, while trying to retain my loan and rate lock. XXXX XXXX confirmed there was indeed no such thing as a 'UWM XXXX that prohibits XXXX XXXX from originating their own loans '. I also was told by another UWM employee that XXXX self origination happens frequently. No one could help me retain or reactivate my loan and/or 5.124 % rate lock. They wouldn't switch it to another XXXX and/or transfer, nor would they tell me why my loan was withdrawn, or send me a letter of denial. I am not sure why I was discriminated against by XXXXUWM, other than maybe XXXX and XXXX gaining some UWM Points, but ultimately my loan was withdrawn and I lost my qualifying rate lock. XXXX, XXXX XXXX and my employer all refused to communicate to me why my loan was withdrawn. I have in writing that I am not prohibited from executing my own mortgage, as shown in my Employment Compensation Agreement. This was unfair to me, unethical discrimination that increased costs and provoked duress to my process. I believe it is against the law to withdraw a mortgage purchase loan without reason, or an invalid or untrue reason, such as in my case.

I advocated openly for myself, asked direct questions, and was bullied, gaslighted, and ghosted. The unfair treatment from the UWM AE, XXXX XXXX, caused me huge anxiety and rehoming duress, as I had recently finalized my divorce and was without a home since XXXX. There is no proof of XXXX 's stated UWM Overlay ever existed, and he stopped taking my calls, adding to my anxiety. This massive untruth created conflict with my employer, ultimately the issue why I lost my job. XXXX 's inaccurate statement and in blocking me from accessing and the UWM portal also led to me losing my 5.124 % rate lock. There was no need I know of to have had to actually transfer my loan to XXXX XXXX. Having lost mt qualifying rate led to adding a co-borrower and losing my 'UWM LLPA 's ( Level Loan Pricing Adjustments ) which has resulted, in my new increased ( XXXX % ) interest rate and increased costs of over {$800000.00} paid over my 30 year mortgage of the repercussion rate of 7.499 %. UWM was unwilling to discuss any UWM MLO rules, now that I was no longer an employee of XXXX, and UWM was unwilling and/or unable to discuss my withdrawn loan as a consumer. I was unjustly denied the conventional loan I originally qualified for at the 5.124 % locked interest rate because of UWM misinformation regarding the rules for XXXX 's and origination for one self and on behalf of one self. My new [ unfavorable ] loan, with a co-borrower, closed on XXXX XXXX XXXX 7.499 % on borrower paid commission, with UWM and another XXXX at another mortgage company, resulting in also me paying someone else to originate my loan= origination costs, and for another set of credit report, processing, and admin fees. In addition, I was unable to take another mortgage application that I had told XXXX I was soon going to be submitting, so I lost future income too.

Company response to consumer: Closed with explanation