Date Received: 2021-05-03
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: Roughly about two weeks ago, I received a call from a representative, from Freedom Mortgage, to set up my closing date. The representative provided the closing numbers, Rate : 2.25 %, Loan Amount : {$440000.00}, Monthly Payment : {$2700.00}, and next payment date of XX/XX/2021. The closing date was scheduled for XX/XX/2021, at XXXX XXXX I called Freedom Mortgage on XX/XX/2021, to obtain a copy of the closing statement in preparation of the closing date on the XXXX. The representative XXXX XXXX XXXX emailed me a copy of the closing statement. The closing statement had different numbers than what was presented to me by the representative scheduling my closing date. The Loan Amount had changed to from {$440000.00} to {$450000.00} and the Monthly Payment from {$2700.00} to {$2700.00}. I asked XXXX to look into the issue ; she said she would escalate the problem up her chain-of-command. After carefully reviewing the documents, it is clear that Freedom Mortgage is not deducting the previous escrow balance of {$5300.00}, from the Loan Amount or the Pay-off balance. Freedom Mortgage is currently servicing the original loan/mortgage and they hold the escrow balance of {$5300.00}, which is not credited in the closing statement attached. With the escrow balance credited XXXX {$5300.00} XXXX, than the total loan amount is about $ XXXX, as presented by the representative scheduling the closing date. The closing date is tomorrow. I've emailed XXXX and XXXX a couple of times with not resolution. As a matter of fact, XXXX send me the same closing statement earlier today with no changes.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 79912
Submitted Via: Web
Date Sent: 2021-05-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-03
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: Application date : XX/XX/XXXX with Freedom Mortgage after receiving a solicitation for a refinance from Freedom/XXXX since they merged last year. XXXX was my existing loan servicer. It took at least 6 weeks to get the loan in front of an underwriter, which, is understandable with the current economic situation. I work for a mortgage lender, and audit underwriters, so I am familiar with volume and expectations. However, I am also aware of what is required to complete a rate/term refinance as far as documentation goes. Upfront, I provided the requisite paystubs and w2s. No assets were needed as I was receiving a minimal amount of cash back. The loan received unnecessary conditions - they either were not needed or they were something that typically is not required from the borrower. After multiple scripted messages about no movement in my loan status, I finally received an email regarding missing items on XX/XX/XXXX. The email gave me 24 hours to produce documents after it had taken 6 weeks to even have someone review my loan. The one condition they needed from me was a Deed of Trust. Which makes no sense. When I asked them WHY they needed this, they advised it was because my title is vested in a trust. It most certainly is not and never has been. A Deed of Trust is recorded in NC because NC is an attorney state. The attorney is considered a trustee for the lender. I advised them of this, and told them they could get it online with the county as necessary, and then I did the " legwork '' with the county online myself just to expedite my loan. I spoke with my MLO and emailed with my MLO repeatedly, to no consequence. Each time I was told that my concerns would be escalated and received nothing from any management level. Days later on approximately XX/XX/XXXX, I received another request to provide the lender 's title insurance policy. This is not something any lender would require from a borrower. Most borrowers don't even understand what this is. But, again, to expedited my loan, since I know what a lender 's policy is, I reached out to their partner, XXXX and made a request to obtain it. I still have not received that to date. I inquired as to why Freedom and XXXX can't work together to obtain this information since they are now the same lender, and received no response. Luckily, I have a contact at the closing agent from my prior refinance who put me in touch with the title company itself, and I successfully got the lender 's policy info within about 2 days. I am sickened to think what would happen to a borrower who isn't familiar with mortgage and who would potentially still be waiting if they'd had to simply wait on XXXX to get them a document for something that honestly shouldn't even need to be provided. After all of this lunacy, and another week of non-responsiveness, I escalated to a complaint department for Freedom Mortgage. All people I spoke with previously advised me that they have no escalation department. This was surprising, since every lender I've ever know has some type of escalation/compliant resolution. I must commend Freedom on their website, because finding a phone number for compliant escalation required diligence and searching on par with that of an FBI agent. But I did find it!! And I spoke with a representative who seemed to brush over my concerns about the overall process and just state that he would " work to get the loan clear to close '' as quickly as possible since that's most important. I finally received a clear-to-close on XXXX. I received electronic Closing Disclosure to acknowledge on XXXX. When I viewed the disclosure, I noticed that I was getting approximately {$790.00} back ( due likely to the fact that I did correctly continue to make my mortgage payments during this entire process ). I wrote my customer representative and initially asked if I could have that reduced. HOWEVER, I wrote back later the next day on XX/XX/XXXX and advised the customer representative and MLO that I decided to leave the loan amount alone, no need to reduce it. And advised that I acknowledged the XXXX electronically at loan amount of {$230000.00}. The closing was scheduled for XX/XX/XXXX. On XX/XX/XXXX, a mobile notary came to my home. We started executing disclosures. The attorney had the incorrect county EVERYWHERE on docs. And then, to my surprise, came the XXXX for a lower loan amount of {$230000.00}. WELL, THAT WAS INTERESTING. Because I thought it was the law that the lender is required to re-disclose when a loan amount changes. Especially since it was NOT at my request. When I emailed my customer representative and MLO about the discrepancy later on XX/XX/XXXX, no one replied. I emailed again on XX/XX/XXXX, with no response. And again on XX/XX/XXXX, with no reply, this time, including the compliant representative. I again, received no responses. Finally, on XX/XX/XXXX, the final day of the rescission period, I got an email response and a phone call from someone in the Closing department. They did note that it should have been redisclosed. He stated " well, sometimes fees change ''. BUT NO FEES CHANGED. The loan amount changed. They executed a principle reduction without disclosure of such to me, the consumer. Not only that, but he said " we'll make this right - maybe by sending a gift card. '' Um, sorry. That would be considered bribery, and also, you know, still illegal because the loan should have been redisclosed. The closing representative also advised that, since my lock expires on XX/XX/XXXX, they could not re-close the loan because the lock would not cover another segment of closing/rescission/funding. And he advised that there would be a cost incurred to me for extending the lock at that point. As if this weren't bad enough to this point, now I was being advised that Freedom will charge ME in my rate or pricing, to re-close the loan that they XXXX up and didn't disclose properly. I emailed the escalation/complaint representative one more time on XX/XX/XXXX, and have gotten no replies. No calls. No emails. The loan closed and I was in a bind for whether or not to rescind, so, it funded and that's all they're concerned with.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 280XX
Submitted Via: Web
Date Sent: 2021-05-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-30
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I started the loan refinance process on XX/XX/2021. Appraisal, verification of employ, verification of income and ALL documentation requested by the lender was submitted by the first week of XXXX. From the beginning of the process, I was very clear that I did not want to wrap my closing costs into the loan amount and stated multiple times throughout the process that I would bring cash to close. I wanted the loan amount to be {$90000.00}. Many times I was told that my file would be updated. I stated this to XXXX XXXX XXXX in an email dated XX/XX/2021. On XX/XX/2021 I received a CD from XXXX XXXX XXXX with an incorrect loan amount. I replied to him XX/XX/2021 stating that the loan amount was incorrect. I received no response from him or anyone else. On XX/XX/2021 I received an email that my closing was ready to be scheduled. I called Freedom Mortgage that same day and spoke to XXXX XXXX who stated that she would note the changes/problems in my file. I requested an update from XXXX XXXX on XX/XX/2021. She requested some time to look into it, but I didn't get a response. On XX/XX/2021 I submitted my two most recent bank statements showing I had funds available to close to XXXX XXXX as requested. I asked XXXX XXXX for an update on XX/XX/2021 and reiterated that my loan amount should be {$90000.00} and I would bring cash to closing for the closing costs. XXXX XXXX replied verifying my loan amount and stated that my file had been sent to underwriting. I was issued a CD on XX/XX/2021 and I signed it on XX/XX/2021. That CD had the correct loan amount and a closing date of XX/XX/2021. I spoke to the closing department on XX/XX/2021 and was informed that closing was not possible on XX/XX/2021. The earliest closing date would be XX/XX/2021. The man I spoke to in the closing department stated the amount I would need to bring to closing. I informed him that amount was different from the amount I saw on the CD and asked him why it was different. He told me he didn't know why there was a difference and that I would be issued another CD 3 days prior to closing and at that point I could ask them my questions. On XX/XX/2021 I emailed XXXX XXXX XXXX ( Loan Originator NMLS ID # XXXX ) and informed him that i had not received an updated CD and it would need to go out ASAP in order to make the 3 day requirement for TRID. I received no response. On XX/XX/2021 I received another call from the closing department stating that I needed to schedule my closing. I stated that I already had a closing scheduled for XXXX. on XX/XX/2021 and received an email confirmation stating such. I was transferred to a closing escalation specialist. I was given many reasons as to why my closing was cancelled. First it was the title company didn't get the docs needed. I contacted the title company and nothing was requested of them and they had received no closing instructions or docs. Then I was told there was a software glitch in the closing/docs department at Freedom Mortgage and my docs didn't go out in time. According to the escalation specialist the system had been down Friday evening and all weekend. After that I was told that the loan amount changed, they put my closing costs back on top of the loan so it had to go back to underwriting. Those reasons were all given during the same phone call. I received a phone call from the closing escalation specialist on XX/XX/2021 stating that my loan amount had been corrected again and my file had been sent back to underwriting. I asked why it had been sent back to underwriting and was told it was because I changed my loan amount. I stated again that I did not change my loan amount, and that it should have been {$90000.00} all along. I asked when closing would be rescheduled and was told hopefully in a couple of days after my file came out of underwriting. I sent an email the evening of XX/XX/2021 to everyone who had contacted me during the process including my loan officer, along with everyone who had emailed the title company from Freedom Mortgage 's closing department totaling 15 employed by Freedom Mortgage. I didn't get a response from anyone. I left a voicemail message for XXXX XXXX XXXX since he is listed on the CD I signed as the loan office stating that I want to know what is going on with my loan and closing. I have heard nothing and have no clue why my loan is not closing.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: KS
Zip: 660XX
Submitted Via: Web
Date Sent: 2021-04-30
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-29
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: In XX/XX/2021, I contacted Freedom Mortgage in regards to a refinance offer I received via email. The loan officer on the phone took some information from me to start an application. I never got his name and did not hear from him for over a week. On XX/XX/2021 I called Freedom Mortgage again and received XXXX XXXX on the line. He said he could help me and proceed with the application. I believe he took ownership of my loan application at that time because I received a letter in the mail stating that I had withdrawn my loan application. I explained to XXXX XXXX that I did not want to proceed with the application if I could not use cryptocurrency as proof of funds should the underwriter require them. XXXX XXXX said it would be no problem and it " should be fine. '' Since XXXX I have not been able to get XXXX XXXX on the phone to discuss my loan application. Communication has been one sided where XXXX XXXX emails me generated emails to sign loan documents with no phone call or follow up on what he is sending or why. After several attempts of calling and emailing him I started calling the XXXX number for Freedom Mortgage. Still ... I could never get in touch with XXXX XXXX only random people who work the customer service line. Today, XX/XX/2021 I received a call from a woman named XXXX from underwriting stating that they can not accept cryptocurrency at all as a proof of reserves. That I would need to liquidate those funds into my bank account and provide a bank statement as proof of funds. I stated to XXXX that I had told XXXX XXXX from the very beginning that I did not want to proceed with the application if my cryptocurrency would not be acceptable as I did not want to ding my credit and waste time in the application process. It has taken near XXXX XXXX XXXX months to get a response from an underwriter who told me cryptocurrency isn't accepted AT ALL by Freedom Mortgage. As a loan officer, XXXX XXXX should be fully aware of this before binding clients into applications process that harm their credit long term. This is completely unacceptable.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90266
Submitted Via: Web
Date Sent: 2021-04-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-29
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Approximately 30 days from XX/XX/XXXX, I called Freedom Mortgage and informed them that I had received a delinquent tax bill. I spoke to someone in the tax department at Freedom Mortgage at XXXX XXXX XXXX XXXX, and they told me that since I recently refinanced ( i.e., XXXX of XXXX ), there was a delay in their paying the tax bill but assured me that it would be paid within 21 days. I then received a delinquent tax bill on XX/XX/XXXX, and I immediately called the tax department at Freedom Mortgage and spoke to a customer service representative with ID # XXXX. She informed me that Freedom Mortgage had sent a check for the delinquent tax bill on XX/XX/XXXX in the amount of {$3100.00}. XXXX ( approximate amount ). When I informed this person that the tax bill is in the amount of {$3400.00}, she immediately referred me to the tax department of Freedom Mortgage. I then spoke to XXXX at Freedom Mortgage Tax Department who informed me that a check in the amount of {$3400.00} had already been sent via XXXX and that the check should arrive at the municipal tax office by XX/XX/XXXX. When I asked her what date this check was allegedly sent out, she said that she could not access that information. On XX/XX/XXXX, I spoke with XXXX at Freedom Mortgage Tax Department who informed me that the check had NOT, in fact, been sent out but that it would be going out today, i.e., XX/XX/XXXX, and she provided a XXXX tracking number of XXXX. I informed XXXX that I would be following up on this and then informed her that I would like to file a formal complaint for being provided with misleading information. I was then transferred to XXXX at the Escalations Department who took my complaint and said that an investigation would be forthcoming. My issue is that from the outset I was provided with misleading information, and I had to relentlessly pursue my issue until someone at Freedom Mortgage took notice. I do not think that misleading customers is ethical and I want this to be addressed.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 109XX
Submitted Via: Web
Date Sent: 2021-04-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-28
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My original mortgage company round point mortgage sold my mortgage to freedom mortgage. My original payment was $ XXXX monthly which round point claims increased to almost $ XXXX due to an increase in home insurance and property taxes which isn't true. During the pandemic while in forbearance they charged a bunch of misc fees and now that I'm with freedom mortgage I owe more than my original loan from 3 years ago. Please help or advise.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MA
Zip: 01605
Submitted Via: Web
Date Sent: 2021-04-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-28
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: XXXX and XX/XX/2019 payments were reported late, but they were not. Disputed actions several times, and I have not heard anything back from them or the 3 credit bureaus.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30331
Submitted Via: Web
Date Sent: 2021-04-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Missing {$3100.00} from escrow account. We paid property tax in cash to XXXX on XX/XX/2020 before freedom mortgage did. After the XXXX received escrow check for freedom they sent the check back to freedom on XXXX/XXXXXXXX We provided property tax receipt to freedom. The money is still not showing in my escrow account after 4 months.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WI
Zip: 53083
Submitted Via: Web
Date Sent: 2021-04-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-27
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I have always paid my account on time every month thru the website that the company provided and i always received notice that they received the payment. However, one month they notified me 30 days later that they never received the payment. I quickly paid it as soon as I was notified and I tried disputing it with the company because I had paid it and it was their websites problem and not my mistake but they refused to remove it even though they acknowledged that it may have happened since they have intermittent problems with their website. Please help as this is affecting my ability to get the best rates on a home loan and this was not my mistake. I also have not received any results for the disputes that i opened on these items from the credit bureaus. Its like they didn't even open the investigations because i have received no notice regarding how the company responded. Please help me any way you can.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CO
Zip: 80634
Submitted Via: Web
Date Sent: 2021-04-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-04-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Last fall, Freedom Mortgage informed me that they had not received notification of the renewal of my home insurance. Twice I uploaded the info to their website but the website apparently didn't work. On the third attempt XXXX XXXX XXXX, XXXX ) I succeeded. I received an email response that " No further action is required at this time '' ( email attached ). Nevertheless, Freedom Mortgage took {$400.00} ( to escrow for insurance XXXX from my bank account, without permission, on XXXX XXXX, XXXX and again on XXXX XXXX, XXXX XXXX statements attached XXXX. I had decided to refinance anyway and on XXXX XXXX, XXXX, this loan was paid off XXXX payoff attached ). The attached " History '' provided by Freedom Mortgage shows that on XXXX XXXX, XXXX they paid {$2100.00} and refunded {$1200.00} with the payoff refund. For the last three months, I have requested the difference of {$810.00} several times by phone, and once by written correspondence. To date I have been told that " you don't understand '' how this works and that once the account is closed they " can not do anything ''. This is unacceptable. Thank you for your help.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33021
Submitted Via: Web
Date Sent: 2021-04-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A