Consumer complaint received 2022-05-15 00:00:00
Product: Mortgage — VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: SHM Holdings, LLC
State: AZ

Complaint narrative:
I was applying a XXXX Home Loan/ with Cash Out with my XXXX existing Home Loan with Strong Home Mortgage , LLC, on XX/XX/2022 and was promised that it approved, and can make the XXXX Home Loan even I have told the Representative that I was already turned down by some other companies. Loan number ID # XXXX MIC # XXXX. 

But this Strong Home Mortgage promised me and he said he can do it for me with the interest rate of 4.125 % and he asked to me most of the standards XXXX Home Loan documents and I have provided, paid the XXXX Appraisal, and the Termite Inspection from my own pockets, the Representative kept on asking to me some more documents and more banks Statements and plus my divorced all pages of documents and my retirements letters from my sources of incomes. So I did all of that but he said again, they needed more documents to have it turn over to the under writers and I said okay email to me of what was needed more, and I have provided all of those requested documents to the company portal and to the Representative who was asking those documents from me. He said Im going to lock in your interest rates at 4.125 % so that I am not paying too much in the time for closing the escrow. First he promised to closed the escrow on XX/XX/2022, and I tried to call, by texts and email leave messages but no one answered or to call me back? 

So, I called back within next week, emailed and texted asking to communicates with me about my submitted Home XXXX with XXXX XXXX and what is the progresses? 

He called me about the middle of the week and he said to me that our company is having lay off and he is working too hard to close my Home Loan. He sent to me the first Loan Estimate of my Loan and I was too happy and he gave me a lot of hopes.

It stated their my estimated loan amount, interest rate, Estimated monthly payments, and the total cost of my Home XXXX with Cash out.

Then the second times he told me he needed more information about my Score and the 3 credit histories reports after he had pulled out a hard copies reports on my credit histories. Then he said to me, you have a very low credit reports he needed for me to explains why that I have some bad reports? I said well it is totally explained on my credit histories and why plus those are all old once when they updated my credit reports they just transposed the old records to a new reports and I have explained to him that within 2 to 3 months all my credits balance will be paid because I was enrolled with the XXXX XXXX XXXX after over 30 months already and I am in that program to pay and that company will negotiates into discounted balances and if I approved the enrolled credit cards will paid off faster and I only have ( 3 ) more credit cards left and it will be paid off sooner because I have increased my monthly dedicated account to pay it by the XXXX XXXX XXXX, but he said Oh, we will includes all those debts and all your credits to pay off from your Home Loan with us and I said okay go ahead.

After that the first attempted the closing of escrow was postponed and he said the underwriters will not take our words as your statements they must hire a second credit reporters to find out about if I was telling the truth, and I said you know people I am getting angry now because not that you just postponed my closing of my Home XXXX Loan with cash out you also investigated me by some second credit reporting agency and asking me a lot of questions by my cell phone and I knew it was not safe to discussed any of my financial by cell phone. So after that no one have contacted me again, I emailed, texted and call after 2 days of that interviewed and I could not get any answers from the Strong Home Mortgage , LLC company that promised to process my Home XXXX Loan with cash out.

Now, this company that I am dealing with my XXXX  Home Loan sent me in the portal a closing Disclosures because I have question that company for the disclosures and the Estimated of what will cost me to close the Escrow and on XX/XX/2022 I was provided an Estimated Closing Disclosure and I have to sign it on line electronically. It says they close the Escrow on XX/XX/2022 and I was hoping that it will close the Escrow. Then I called leave messages again, On XX/XX/2022 I was asking when do I finally sign the final documents and so that I am ready to be at home for them to enter my house for all the Notary Public that this company will come into my house? 

But after another week, no messages, no answers to my cell -phone calls and emailed and about middle of the next week, some one called me by my cell phone he said, you know what the other Representative have dropped the ball on you I am taking over this Home XXXX  Loan with cash out but now the rates will be higher than 5.0 % and I was so furious and I thought that my XXXX Home Loan will close already but I received the bad news that day and he said we will lock up the higher rates for you and it will cost you more to close this escrow and I said I am not going with your company and if your will communicates with me again, you must speak to my Lawyer. So, now I am applying again to another company for the same Home XXXX Home Loan with cash out but now it is higher and more costly to me to close this new Home Loan from company called XXXX XXXX  XXXX Loan Number # XXXX. I have applied this new loan on XX/XX/2022 and the interest rate now is more higher than 4.125 % promised and locked by the Strong Home Mortgage, the 1st company I have applied for this Home XXXX Loan with Cash out.

My main complain here is no one words when this company promised me to close on the set up dates, lacking of customer service, no follow ups and now it will cost me more to have another company to apply for the same XXXX  Home Loan with cash out and I wanted this company to learn something, when you promised to close on that set time and while the lower interest rates is locked it must closed already. Now I would ask for this CFPB teams to make sure that this types of company must to compensates their customers like me that they hassled, promised to and can not executes their promised now it will cost me over {$12000.00} to closed my new applied Home XXXX Loan with cash out because it is now at the rate of 5.875 % and this is the company 's phone number to check it XXXX or XXXX ask for XXXX XXXX XXXX XXXX. 

I thank you for this opportunity to file my complains as my Lawyers refereed to this Consumer Protection in Financing Complains Respectfully, XXXX XXXX - XXXX XXXX / XXXX XXXXXXXX XXXX XXXX XXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation