Consumer complaint received 2025-06-06 00:00:00
Product: Mortgage — FHA mortgage
Issue: Closing on a mortgage — Changes in loan terms during or after closing
Company: BROKER SOLUTIONS, INC.
State: AR

Complaint narrative:
I began construction on my FHA  XXXX time close loan in XXXX of XXXX with New American Funding. XXXX began after approval XX/XX/XXXX. Construction completed in XX/XX/XXXX. Final inspection passed and done. I was told the mobile home coukd staybasblong as the tongh was off the trailer. To make it a permanent structure. There was a change from original loan XXXX. New loan XXXX was asking for new closing costs, fees etc when {$9000.00} was prevously paid for XXXX time close construction. I asked for clarification and was told " With all due respect I can go with another lender '' to which I did. Ran credit report, approved and appraisal paid for with local lender. Which was XXXX XXXX. To find out the loan was not yet endorsed through FHA and couldn't be refinanced for a year after endorsement. So I continued to try and work it out with New American Funding. Even though my credit was pulled and appraisal paid for through a new lender. I was told she would get the paperwork to be. To be sent refinance paperwork for {$5000.00} more than original loan amount and closing costs. I was told due to their error they would wave appraisal and XXXX of closing but intrest would be high at 8 % and I would still need out of pocket for closing. My payment for febuary XXXX by {$700.00} and I was told it was conversion fees for switching to a mortage. Come XXXX I was told to hold off on XXXX interest only payment and it would be a full mortgage soon. To which I did and around mid XXXX I noticed it still said late payment. Contacted new american and was told to make the payment. XXXX was also due to I paid both months payments near {$3000.00}. Come the end of XXXX is went to pay XXXX and it showed XXXX was late. Once again contacted them. XXXX payment was credited. XXXX 's payment came up {$270.00} more than XXXX payment. Once again I asked for clarification to be told since I complained about making intrest only payments and no principle. They switched me to a interest mortage payment at current interest rate of 8.25 %. Without explanation or prior notice. The next day I received a letter saying it had been 60 days since the completion of the FHA and it is no longer endorsable but they will keep all of the same terms from the Promissory note we signed in the beginning. I logged on to view XXXX payment information and it showed the same amount as XXXX to which I was relieved to see. To log in XXXX say later to the payment increased another {$300.00}. I was told i had to move the trailer to be able to close in this FHA loan. To which we had a week to do so when prevously told it could stay without the tounge. We paid for reattachment of trailer tounge and moving to get it out to be told that on XX/XX/XXXX it was switched to a conventional loan without our knowledge. This cost us money and time. We was not informed of the change in loan terms until XX/XX/XXXX when they send out a letter after me asking for clarification and transparency. I will be escalating this further with Attorney Generals and HUD.

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