Consumer complaint received 2023-04-11 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: Cornerstone First Mortgage, Inc.
State: CA

Complaint narrative:
XXXX XX/XX/XXXX when the refinance on my primary loan was taking place XXXX asked me about my retirement account. I stated that I had withdrawn all of the funds to purchase a condo for my daughter without a loan, so that she would have a place to live ( I was in the middle of a divorce ) XXXX then asked me to compose a letter that stated that " I did not have a retirement account ''. I did as asked and emailed him the letter on XX/XX/XXXX stating that " I do not have a retirement account '' XXXX will argue that I did not disclose that I owned this property. 

XXXX XXXX I was asked who XXXX XXXX ' is? and why is he on my homeowners Declarations page? I replied with He's my son and he lives in the home. Then it was requested that I remove his name from the declarations page unless he was going on title. I removed his name and sent in the new declarations page. 

XXXX will argue that I didn't disclose that I didn't live in the property full time that I was refinancing. 

XXXX XXXX a new unlicensed " loan partner '' named XXXX XXXX XXXX introduced herself to me and would be my contact for the rest of the loan/refinance process. 

I purchased a condo in Utah without a loan, that I was going to stay in for a while to regroup and figure out my life, remodel and rent so that I would have income after my XXXX expired. XXXX was aware of the entire situation and all of this was disclosed in my XXXX which he removed from the backend of the file. Also it was disclosed verbally as well as on my bank statements. My po box in Utah is pretty hard to miss. 

Now XXXX is trying to foreclose on me due to residency stating that I didn't disclose that I owned my daughters apt or that I purchased a XXXX condo in Utah ( how is this primary? ) XXXX has also stated in writing that " XXXX XXXX did an audit of XXXX and found that I committed loan fraud '' I've asked XXXX for the proof of the audit, to no avail. He says he can not send me the proof. 

I'd like to know the real reason the loan was retuned to XXXX at Cornerstone First Mortgage Lender. From what I can find it has nothing to do with residency. 

What I do know now is this. During the loan process XXXX asked my X 's financial guy for a letter stating that I would get XXXX a month in income for 36 months when in fact we were negotiating for XXXX for 60 months. I also know that I never filled out a loan application. I was never asked if I owned other properties. I was never asked if I intended to occupy the property point blank. I do know that I was told that because it was a refinance and I had already lived in the property and that my children lived in the property and were going to continue to live in the property that satisfied the part of the primary loan requirement. 

XXXX XXXX called me on XX/XX/XXXX and stated " if I didn't refinance with him at current rates that he'd see me in court for loan fraud '' I did think it was a scam because rates had jumped so high ... my mortgage is 2.5 % What I am finding out is that when loans are kicked back to the originator that the originator does NOT have to show you why. They can scare you and threaten to take your home. This means that the originator can slice and dice your loan then accuse the consumer of anything they want, and then foreclose. 

This has been horrendous and continues daily. 

XXXX XXXX XXXX XXXX XXXX # XXXX XXXX CA XXXX XXXX

Company response to consumer: Closed with explanation