Complaints

• Initial Complaint

  03/18/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I am writing to file a formal complaint against Wall to Wall Funding regarding my recent experience with their mortgage services. On [date], I entered into a mortgage agreement with Wall to Wall Funding based on a recommendation from a Lennar salesperson during the purchase of my home in *******.At the time of initial discussions, I was quoted a mortgage rate of 8.5% with the promise of a potential lower rate once I improved my credit score. After diligently working to increase my credit score to over 700, I was shocked to discover that the final mortgage rate presented to me at closing was *****%. Additionally, I was unexpectedly charged a 2.5% loan discount fee, which was not adequately disclosed to me during the initial discussions.This discrepancy between the promised terms and the final terms of the mortgage agreement has caused me significant financial distress and feelings of betrayal. I felt compelled to proceed with the purchase despite these unfavorable terms due to the substantial financial penalty associated with canceling the contract.I believe that Wall to Wall Funding engaged in deceptive practices by failing to fully disclose all relevant information and by misleading me regarding the terms of the mortgage agreement. This experience has left me deeply dissatisfied and has eroded my trust in Wall to Wall Funding as a reputable mortgage provider.I respectfully request that the Better Business Bureau investigate this matter and take appropriate action to address the deceptive practices employed by Wall to Wall Funding. Additionally, I would appreciate any assistance or guidance you can provide in resolving this issue and obtaining fair compensation for the financial harm I have suffered.Thank you for your attention to this matter. I look forward to a prompt and thorough resolution.Sincerely, ***************************

  Business response

  04/03/2024

  4/3/2024
  To Whom It May ************* will also send you the email correspondence proving this buyer was fully disclosed to back up all this. Below is a quick
  summary>>>
  The builder reached out to me back in June 2023 to help this buyer purchase a property that was closing in December
  2023.
  We were initially going to take this loan as a bank statement loan with 20% down as a primary residence, as that is
  the loan the buyer requested. She did not qualify, because she worked / lived out of state and would not have proper
  employment in ******* when the loan was set to close, so Primary Residence would not work.
  I paid for a rapid rescore to help raise her credit score to help her with a lower rate. Again, she didnt qualify for the
  loan she initially requested, but since I had raised her score, we had another option.
  I located a different loan that she would be eligible for, which was an Investment Property purchase with 25% down
  payment. I disclosed to the buyer updated fee worksheets many times during this process , while the house was being
  built, before the loan closed, so there are never any surprises.
  I let her know multiple times the interest rate is higher on the investment property loan, there were points disclosed,
  and also a one year pre-payment penalty. The updated fee worksheets I emailed to the buyer disclosed all of this.
  Not only did I , mortgage broker, disclose everything to the buyer multiple times, the lender also disclosed loan
  estimates multiple times to the buyer per TRID guidelines , which the buyer had to physically acknowledge through
  email for the loan to continue with the lender, so there is absolutely no way a buyer can ever say they did not know.
  Just for instances like this.
  This buyer was fully aware of the cash to close well before the loan closing and had reviewed and e-signed multiple
  documents knowing the type of loan had switched from a Primary Residence loan, which she did not qualify for, to an
  Investment Property loan , which required a larger down payment.
  Im sending you an email chain that will prove I sent buyer fee worksheets and Ill also include the fee worksheets to
  100% prove buyer was disclosed all of this literally weeks before the closing date.

  Customer response

  04/04/2024

   
  Complaint: 21439534
  
  I am rejecting this response because: am writing in response to the complaint I filed against WALL TO WALL FUNDING LLC .

  I appreciate the opportunity to address the concerns I raised.

  Firstly, I would like to express my gratitude for your attention to this matter and for providing a platform to address consumer grievances.
  Regarding my complaint, I would like to reiterate the issues I encountered with WALL TO WALL FUNDING LLC. During my initial conversation with them, I was not informed about a 2.5% loan discount fee, which was subsequently included in the terms of the loan agreement. This lack of transparency was concerning and unexpected, as it significantly impacted the overall cost of the loan.
  Furthermore, I requested proof from WALL TO WALL FUNDING LLC regarding how they claimed to have raised my credit score. I had taken independent measures to rectify discrepancies on my credit report by contacting the credit bureau directly. Despite this, WALL TO WALL FUNDING LLC asserted that they had played a role in improving my credit score. However, they have failed to provide any evidence to support this claim.
  In addition, I was promised a better interest rate if my credit score exceeded 700, as communicated in an initial email offering an 8.5% rate. Despite achieving a credit score above 700, I did not receive any follow-up communication regarding the promised rate adjustment.
  I am disappointed by the lack of transparency and communication from WALL TO WALL FUNDING LLC, and I believe these issues warrant further investigation to ensure fair and ethical business practices are upheld.
  I kindly request that the BBB assist in facilitating a resolution to this matter by investigating the practices of WALL TO WALL FUNDING LLC and ensuring that they adhere to their obligations to consumers.

  And my concern its never been about the success of the loan.
  Thank you for your attention to this matter, and I look forward to your assistance in resolving this dispute.
  Sincerely,
  ***************************
  
  

  Business response

  04/08/2024

  04/08/2024
  **********To Whom It May concern:
  
  **********I answered all the accusations from this buyer previously.  I will again respond to these accusations, and this will be my last / final response, as even after showing literal proof, this buyer continues with the same inaccurate rhetoric.       
  

   

  
           I am rejecting this response because: am writing in response to the complaint I filed against WALL TO WALL FUNDING LLC . I appreciate the opportunity to address the concerns I raised. Firstly, I would like to express my gratitude for your attention to this matter and for providing a platform to address consumer grievances. Regarding my complaint, I would like to reiterate the issues I encountered with WALL TO WALL FUNDING LLC.During my initial conversation with them, I was not informed about a 2.5% loan discount fee, which was subsequently included in the terms of the loan agreement and This lack of transparency was concerning and unexpected, as it significantly impacted the overall cost of the loan.

  ********INCORRECTBuyer was disclosed multiple times by me emailing fee worksheets, as well as, the lender emailing loan estimates. Time stamped emails and fee worksheets were previously uploaded to the BBB.      Please note, the lender requires buyer to actually e-sign the loan estimates, so buyer was disclosed many times and knew the increased Cash To Close.  Also, the reason the cash to close increased is because the buyer was not approved for the bank statement loan product buyer requested.   I was able to generate a loan conditional approval by switching the loan program and increasing the down payment from 20% to 25%.  ***** agreed to this change.   ***** was emailed fee worksheet from me and loan estimates from the lender, which buyer physically acknowledged.
  

   

  
           Furthermore, I requested proof from WALL TO WALL FUNDING LLC regarding how they claimed to have raised my credit score. I had taken independent measures to rectify discrepancies on my credit report by contacting the credit bureau directly. Despite this, WALL TO WALL FUNDING LLC asserted that they had played a role in improving my credit score. However, they have failed to provide any evidence to support this claim.

  **********INCORRECTI first pulled this buyers credit report on 6/25/2023.  I did state buyer could receive a lower interest rate, if we were able to achieve the next bracket of credit scores, so I advised the buyer to pay down / pay off the exact liabilities needed for this to occur, and performed a Rapid Rescore,which would should raise her score above the level needed.  We achieved the credit score needed on 7/18/2023.   Once the initial bank statement loan was submitted, it was declined, due to Debt To Income ratio on a Bank Statement purchase, as well as, declined for Primary Residence.
  

   

          In addition, I was promised a better interest rate if my credit score exceeded 700, as communicated in an initial email offering an 8.5% rate. Despite achieving a credit score above 700, I did not receive any follow-up communication regarding the promised rate adjustment.

  **********INCORRECTAs I have previously disclosed in the initial follow-up to the BBB with the actual email correspondence,I had emailed the buyer we would have to switch loan programs, because  buyer did not qualify for the loan program she initially requested / wanted.  I disclosed to buyer the down payment and interest rate were both higher, as this new loan product is an entirely different type of loan; apples / oranges.    ***** initially wanted a Primary Residence using bank statements to quality, but that loan program was declined.  Instead of me simply moving on to the next buyer, I researched and found a loan that would fit; Investment Property purchase with 25% down payment, as I wanted to help this buyer.    As I have physically disclosed in the initial follow-up to the BBB, I provided the buyer with updated fee worksheets , as well as,  the lender emailing updated loan estimates.   

  **********These actual Fee Worksheet were uploaded /disclosed to the BBB along with the actual dated emails, which proves buyer was disclosed with all the changes, due to the completely different loan program.   Again, please note per TRID guidelines, a buyer actually e-signs and/ or must open / acknowledge the lenders emails containing the loan estimates, so the lender has an actual time stamp on when the buyer actually viewed the email.    This time stamp acknowledgement proves without a doubt the buyer received the loan estimates, so a buyer can never state they did not know or were not disclosed, which is exactly the case here.
  
  
            I am disappointed by the lack of transparency and communication from WALL TO WALL FUNDING LLC, and I believe these issues warrant further investigation to ensure fair and ethical business practices are upheld. I kindly request that the BBB assist in facilitating a resolution to this matter by investigating the practices of WALL TO WALL FUNDING LLC and ensuring that they adhere to their obligations to consumers.

  
  **********INCORRECTBuyer was notified multiple times throughout the loan transaction, and I have provided the actual emails sent along with the actual Fee Worksheets, proving I did exactly what I was supposed to do, as I always do.

  **********FORWARD This is my final response, as I have proven the buyers accusations are / were false, as BBB has the actual time stamped emails and fee worksheets I disclosed to the buyer.   I have proven myself innocent and I truly hope this buyer enjoys her home and finds whatever it is she is looking for in life.    
  

  **********BBB, I will view any more propaganda from this buyer as Harassment and will take this to a legal level, if necessary, as I have provided literal proof of all this nonsense.     
  
  Best Regards,
  *********************  

  Customer response

  04/09/2024

   
  Complaint: 21439534
  
  I am rejecting this response because:

  here is the original email you can read it.
  
  Sincerely,
  
  ***************************

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩