Complaint Review: Nationstar Mortgage

A representative from NationStar Mortgage contacted me per phone in May and offered a refinance loan of my existing home loan. I explained that I just did a 100% refinance of my home in December 2006 and am only looking for a credit card consolidation loan in form of a refinance of my second mortgage only. I was promised and guaranteed a better loan and was told I have to pay an appraisal fee upfront to even start the application process.

I was against that but was guaranteed and promised several times that I will not lose the appraisal amount.
I submitted all my personal and business information required for a loan application and paid the appraisal fee.

A few days later I received the loan papers which showed a closing cost of more than 3x as high as the national average. When I asked about it, I got only evasive and deceptive answers. When the appraisal came through, I was told that my application was not approved because of a poor debt to income ratio. I asked why that wasn't obvious from the beginning, when I disclosed all my correct personal income and debt information from the very first phone conversation. - I have received no explanation.

I asked for a refund of the appraisal fee a total of 3 times, in separate phone calls to the company.
All I have gotten from NationStar Mortgage so far was: I'm sorry we couldn't approve the loan application.

AVOID! This company makes you pay upfront for an appraisal, just to see if there is enough equity to skim off a very large amount of loan processing fees.

Chris
Tehachapi, California
U.S.A.