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Report: #1056030

Complaint Review: Citimortgage - Internet

  • Submitted:
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  • Reported By: Jeremy D — Delmar New York
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  • Citimortgage Internet USA

Citimortgage Refinance Scam Internet

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 I submitted an application to refinance my current Citimortgage Loan with the intention of lowering my interest rate and saving money.  My loan officer, Steaphen Richardson, took my application, and charged my credit card $470.  They offered me a rate of 3.75.  

He indicated during our initial conversation that their were several debts on my credit report that would make my debt-to-income ratio too high to get the loan approved, and I explained that these debts had been paid in full and my credit report had not updated to reflect the changes.  With these debts paid I was within their debt range of 45%. 

I told him that I had substantiation to show the debts were paid in full and he explained that he would inform me when the underwriters requested the information, that I first had to fill out an application to send back to him.  So next I received the loan application and I filled it out thoroghly, when I noticed the debts in question on the application i crossed them out and indicated that they had been paid off.  I then mailed the application back to them.

Three weeks later on a Thursday, Mr Richardson called me and told me the loan was in danger of being declined because of too much debt.  Surprised, I reminded him that the debts had been paid and he apologized and told me he had forgotten.  He then asked me to scan and email or fax the documents to him to get to underwriting. He told me he would I told him that I needed a day to gather the information, and in the meantime he would delay the loan's rejection.

So I scanned and emailed my documents to him Friday morning when I got to work.  I then called and left him a voicemail asking him to confirm that he had received and forwarded the information to underwriting.  He didnt call me back.  Tuesday I called and left him another message asking what was going on with the loan and again no answer.  I then called in and got the name of his supervisor from another agent, a Bradley Everhart, and I left him a voicemail as well.

Wednesday and Thursday no answer, I call Friday, a full week after I sent the information and I leave messages with both Mr Richarson and his supervisor, Mr Everhart.  Finally at 5pm Friday Richardson calls me and explains the loan has been rejected because the information was not submitted in time.  I am very upset at this point but he reassures me that it is no big deal and all he has to no is resubmit the application with all the information he has already collected and that he will call me back in 15 minutes. 

So he calls me back and explains that because it was rejected and this is a new loan the interest rates have gone up and the best they can offer me is 4.25%, a half point higher!  At this point I admit to losing my temper and becoming very angry.  I demanded the initial rate they offered me, and when he refused, I told him I wanted my application fee credited to my credit card.  He told me that he would ask his supervisor about the fee and that the supervisor would contact me on Saturday June 1st. 

So Saturday comes and goes no phone call.  It is now monday the 3rd and I have left the supervisor three voicemails asking for him to call me and figure this situation out.  I was rejected in error out of sheer incompetence or in a direct effort to stall this loan until the rates went up.  I can't get anyone at citimortage to call me back.

 

This report was posted on Ripoff Report on 06/03/2013 02:12 PM and is a permanent record located here: https://www.ripoffreport.com/reports/citimortgage/internet/citimortgage-refinance-scam-internet-1056030. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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