Complaint #1651026 submitted on 11/10/2015 relating to Capital Benefit, Inc.. Complaint relates to Mortgage Conventional adjustable mortgage (ARM) - Credit decision / Underwriting .
Complaint was submitted via Web and sent to the company on Tuesday 10th November 2015.
Complaint : XXXX XXXX, client/consumer/XXXX # XXXX XXXX : Loan Consultant : XXXX XXXX XXXX XXXX, XXXX # XXXX : # XXXX XXXX XXXX XXXX, # XXXX, XXXX, CA. XXXX XXXX ( cell ), XXXXXXXXXXXX -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -Capital Benefit, Inc. : Lender : Loan # XXXX, escrow # XXXX XXXX : Loan rep.
XXXX XXXX XXXX, # XXXX, XXXX XXXX, CA. XXXX : XXXXXXXXXXXX : XXXXXXXXXXXX XXXX : On XX/XX/XXXX I spoke to XXXX XXXX and after XXXX returns for XXXX : gross income : {$170000.00} and tax returns XXXX loan docs, including bank statements were given and a pre-approvalletter was given to be.
B : Good Faith was XXXX arm with 30 year fixed at 4.25 % -- -- 5.25 % I spent the next 45 days looking at over XXXX homes and spentover XXXX hours looking and found a property to XXXX : I found a house and went into escrow with escrow XXXX in XXXX, CAEscrow # XXXX, all in good faithd : I agreed to the terms and conditions of putting 30 % down and carrying a notefor {$130000.00} and agreed from the beginning to be an owner occupied investmentproperty for me. This was all disclosed to XXXX XXXX from the beginningof obtaining the loanItem XXXX : All loan docs were given to escrow and we were to fund on XXXX record on XXXX : XXXX XXXX emails me that I can not have a loan now as owneroccupied and we are now going to use a Hard money loan.
Instead of 4.25 % -- -- to 5.25 % for the loan, now the interest rate is 9.5 % Why and is this using bait and switch tactics?
Item 3Then when I received the loan docs from Capital Benefit , Inc .
XXXX the loan officer changed the terms and conditions of the loandocs : Now the loan docs were at 10.5 % with over {$4000.00} more infees from Capital Benefit to fund the house.
A : Is this using bait and switch tactics against me as a licensed realtorin XXXX, that was disclosed to XXXX and XXXX from the beginningB : I have all emails from XXXX XXXX from the beginning of theprocess for the loan and all statements from him.
C : Capital Benefit changed the terms and conditions at the last secondand now it was a non-owner occupied property and I did notsign the loan docs as this was not true.
The escrow was cancelled.
Item XXXX. I want my {$270.00} back for the home inspection I did operating in goodfaith on this loan.
2. I want {$450.00} back as this is the amount I paid for the home appraisalthat did appraise at {$190000.00} to buy the home3. My time is worth {$200.00} an hour as a realtor and I spentover 40 hours of my time to find the property and buy it, I want {$8000.00} back to me.
4. The commission I was to receive for the deal was $ XXXX I deserve this back as well
| Company | Capital Benefit, Inc. |
| Complaint ID | 1651026 |
| Date Received | 11/10/2015 |
| Product | Mortgage Conventional adjustable mortgage (ARM) |
| Issue | Credit decision / Underwriting |
| State/ZIP Code | CA 913XX |
| Consumer Consent | Consent provided |
| Company Public Response | Company disputes the facts presented in the complaint |
| Company Response To Customer | Closed with explanation |
| Submitted | Web 11/10/2015 |
| Result | Timely Response: Yes, Consumer Disputed: Yes |
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