Consumer complaint received 2024-12-11 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Application denials
Company: JHL, LLC
State: FL

Complaint narrative:
Dream Finders/Jet Loans ( Owned by Dream Finders ) deploy predatory and deceitful marketing practices when advertising and contracting with buyers. 

We initially looked at purchasing a new home within the XXXX XXXX, XXXX  region in XX/XX/XXXX. When we found Dream FindersXXXX XXXX we decided to pursue a new home build given several promises made by their sales persons. We were urged and pressured to sign immediately as lots in the area go quick, and the one we were looking at was currently being inquired upon by others. 

We decided to proceed with the purchase given a few promises made to us by the sales person. 
1. Upgrade costs : we were explicitly told that upgrades ( e.g., flooring ) would incur charges for materials only, with labor costs remaining fixed. This was a pivotal selling point. However, during the selection process, we were blindsided by additional labor charges. When confronted, this discrepancy was dismissed as a miscommunication a grossly inadequate response to what amounts to a bait-and-switch tactic.

2. Tray Ceilings : tray ceilings, presented as a standard feature in the model home, were omitted from our build without proper communication. Homes in the same community and XXXX listings clearly show tray ceilings as standard, making this omission deceptive and misleading. We were told that Dreamfinders marketing images and materials were inaccurate, but they hadnt had the time to update them with accurate information. 
XXXX. Loan Process : we were told that if we chose the " preferred lender '' we would a ) receive a rate lock and it would never go higher, and b ) receive a financial incentive with closing costs. At this point we proceeded with the preferred lender ( Jet Loans, owned by Dream Finders ) and provided them with all the appropriate financial records, and spoke with them at great lengths with our businesses and financial standing. 

1 Month prior to closing on the house, we were to reapply to Jet Loans with updated tax returns for XXXX. Upon sending the information, Jet Loans sent us a loan sheet with a rate 1 % higher than previously agreed upon and told us over the phone that they won't be able to make the loan happen due to tax returns showing business losses due to opening a second location ( major purchases made in XX/XX/XXXX - XX/XX/XXXX ), which was disclosed previously and happened in late XXXX and early XXXX. After some back and forth with Dream Finders and Jet Loans we were offered two options, either sign with another preferred lender with unfavorable terms ( quoted around 8 % ) or forfeit our deposit and walk away. 

It is important to note that we disclosed all of this information upfront and were completely blindsided by their in-house preferred lender. I do not believe that either parties have acted in good faith and after some quick searching online, the company has a history of not acting in good faith to the customer nor the contracts.

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