NA Nationwide Mortgage Noelle Wheeler- James Gordon HUD/FHA violations - withdrew all lender credits lastminute and extorted extra 9K Mission Viejo California
Got a Good Faith Lending disclosure from James Gordon. One day later got an email that said we got you $9200 in lender credit.
On closing day, was contacted by Jim saint that they needed the other $10K to close the loan. We said that was where the lender credit came in. He started back peddling and could not explain why we needed this money at the last minute. Spoke to Noelle and she said that they could not gibe that money. If we didn't come up with the money then they would not process the loan. At this point we were homeless. We spoke to the escrow company and they told us that the credit had been 'crossed off' and denied by the lender. HUD statements and Good Faith agreements are falsified and we were left begging and borrowing to find $9K. After that she delayed closing another 10 days.
Dishonest! Feel that we were victims of a classic 'bait and switch' scam. We are working through legal channels and have filed reports with HUD and FHA for James Gordon, Noelle Wheeled, and Nationwide Mortgage.
1 Updates & Rebuttals
FloridaNative
Palm Beach Gardens,Florida,
Report them to the CFPB too, you were a victim of bait and switch
#2Consumer Comment
Fri, November 01, 2013
I am glad you reported these very unprofessional mortgage people. Find every resource that you can to report the incident. Try reporting them to the CFPB too. The changes made in 2010 to the HUD1 and other recent mortgage lending requirements were suppose to prevent the type of things that happened to you.
The CFPB hopefully can bring down the hammer on these guys so they loose their license. The very first red flag was the change in terms one day after you received your official GFE via a separate email. That email info should have immediately been incorporated into a new official GFE for you to review and sign.
Consider taking them to small claims court with your written evidence because you were definitely damaged to the tune of at least $9200.
One more thing: normally when you get a lender credit it is because you are charged a premium par rate on your interest rate (which means over market rate). That's where the lender funds come from - the excess interest you are being charged. If you have the same higher than market rate on your loan but didn't get the $9200 closing costs credit, then they hurt you two ways.