Complaint #1553430 submitted on 09/04/2015 relating to Cardinal Financial Company, LP. Complaint relates to Mortgage Conventional fixed mortgage - Application, originator, mortgage broker .
Complaint was submitted via Web and sent to the company on Wednesday 9th September 2015.
We selected Sebonic Financial for our mortgage refinance. I believe they also go by the name of XXXX Financial. The reason we selected them was the low mortgage rate and costs to refinance. We have provided all the documents and responded on a timely basis. Each person I have dealt in their organization appears to be dragging their feet with the processes. They do n't return phone calls, information is lost, they tell me that they have all the documents and then they request more ....
We are coming up to the end of our rate lock period. Now they are trying to extract additional payment from us for a rate lock extension. We have done everything to be timely in getting the appropriate paperwork to them, made arrangements to get the appraisal done, responded quickly to their requests, but over and over again, they drag their feet. It is as it the process is designed to get you to commit and then up sell you with rate lock extensions. I am starting to believe that they never expected to fund the mortgage at the rate they committed to. The whole process is designed that you ca n't get the process done in the rate lock period.
Here are some of the tactics I have seen. Not just one, but a number of their people never return calls. They lose documents. They arrange for the appraisal, but the appraisers refused to accommodate any time ( weekends, evenings ) other than XXXX to XXXX. The person handling our loan told us that via email that they had received the appraiser the day after the appraisal. Then, yesterday they told us that it was n't received for 6 days. This was also in email. The person handling our loan gave us the wrong underwriter. The underwriter could not find our loan. Then, the same person handling the loan told me that the underwriter was the sales person which I knew was incorrect.
In closing, their whole process seems to be a bait and switch. They sell the low rate and costs. Then, they drag their feet to close the mortgage refinance. Finally, they push for rate extension payment. My belief is they never intended to provide the rate that was locked in up front.
| Company | Cardinal Financial Company, LP |
| Complaint ID | 1553430 |
| Date Received | 09/04/2015 |
| Product | Mortgage Conventional fixed mortgage |
| Issue | Application, originator, mortgage broker |
| State/ZIP Code | FL 322XX |
| Consumer Consent | Consent provided |
| Company Public Response | |
| Company Response To Customer | Closed with explanation |
| Submitted | Web 09/09/2015 |
| Result | Timely Response: Yes, Consumer Disputed: No |
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