Wyndham Capital Mortgage Kyle Ellerbrock mentioned that he will provide me 3% refiance for 15 years with no closing costs. Charlotte North Carolina

The company agent Kyle Ellerbrock quoted 3% refinance for my investment property in Maryland in the last week of April 2013. I specifically asked him if the no closing cost means that the closing cost will be bundled into the loan amount since I had heard many horror stories. He mentioned that it will not happen because as a Costco member he has a great deal where the lender provided discount will take care of the closing costs as well as appraisal. He sent me a good faith estimate and I pointed to charges of $2000 and he apologized and agreed to send a corrected version. However, in the mean time he left the company (the turnover in this company seems to be high) and Mr. Paul Dover took over. I repeated my conditions with him and he mentioned that if Kyle had agreed to no closing cost, the company will honor it. He asked to review the tape and then he let me know there will be no charges. However, as the deal went further on, Paul mentioned that Kyle made mistake and the company will not pay $2000. In the mean time, the interest rate had shot high up, so I had no alternative than to go ahead with the deal. I was provided GFE/ HUD 1 on the last day and I discovered I am paying further $2000 which has been bundled into the loan amount. In total I paid $4000 as closing cost, which needs to be refunded. I informed the company manager Mr. Matt Drexler about this situation but he took no action. I complained on BBB and the company said it will pay appraisal fee back, which it did not.

Bottom line: The company agent Kyle Ellerbrock quoted no closing cost for refinance. However, the company dishonestly bundled $4000 closing cost in the refi amount at the end. Never do a business with this company- no one should face the ordeal as I have gone through.

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