ComplaintsforCo/LAB Lending
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Complaint Details
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Initial Complaint
11/01/2022
- Complaint Type:
- Order Issues
- Status:
- Unanswered
I was told by Kendy A******, the mortgage broker, that my mortgage was locked in, at 5.25%... As the closing date (which was Oct. 28) on our home approached, Kendy called me to tell me she made a mistake. She did not lock my rate in, and she thought she did. This as deeply troubling considering how much mortgage rates had increased, and I was already on a very tight budget for the purchase of my home. She claimed she gave up all of her profits in order to get my mortgage close to what I was promised it was locked in at. However, I ended up with a 5.75% rate, which is considerably more than anticipated. The company refused to do anything further or make any further concessions due to their mistake... I would like my rate to be the 5.25% which I was told I was locked in to, and would appreciate any further compensation or concessions the company would like to provide due to the extreme stress and duration this has placed on myself as part of the homebuying process. There were multiple other things the company did which just showed how inefficient they were (such as the mortgage writer Christian continuing to provide wrong or late information). However, the most impactful and disturbing is the fact that I was told my mortgage rate was locked in, and then was told I couldn't get that rate due to a mistake on the part of the broker.
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Customer Complaints Summary
1 total complaints in the last 3 years.
0 complaints closed in the last 12 months.