Complaint #1801074 submitted on 02/23/2016 relating to East West Bank. Complaint relates to Mortgage Conventional adjustable mortgage (ARM) - Application, originator, mortgage broker .
Complaint was submitted via Web and sent to the company on Tuesday 23rd February 2016.
I took a mortgage loan from East West Bank back in XXXX XXXX when I purchased my house. Purchase price was {>= $1,000,000} and the loan was {$690000.00}. I was told by XXXX XXXX and XXXX branch manager the the rate was fixed for the first 5 years for 4.625 % and it would become adjustable ( 1 yr Treasury + XXXX ) begining XXXX XXXX XXXX but my rate remained at XXXX and now they are saying that my loan rate can not be lower than XXXX. I was never told or received any disclosures that there was a minimum rate. I was milsled by East West Bank representatives by both loan officer who does n't have a NMLS number and the branch manager
| Company | East West Bank |
| Complaint ID | 1801074 |
| Date Received | 02/23/2016 |
| Product | Mortgage Conventional adjustable mortgage (ARM) |
| Issue | Application, originator, mortgage broker |
| State/ZIP Code | CA 926XX |
| Consumer Consent | Consent provided |
| Company Public Response | Company has responded to the consumer and the CFPB and chooses not to provide a public response |
| Company Response To Customer | Closed with explanation |
| Submitted | Web 02/23/2016 |
| Result | Timely Response: Yes, Consumer Disputed: No |
Leave your comments and feedback below.