Complaints

• Initial Complaint

  03/29/2023

  Complaint Type:

  Order Issues

  Status:

  Resolved

  More info

  I started processing an *** loan to refinance my house with this company. I trusted the loan officer *************************** because I work with him in the past when I bought my home. Rocket Mortgage offered me the same mortgage at a rate below from what Family First Funding offered and I went with them.Been this an *** loan and Family First has the *** number, I need that number transfered to Rocket Mortgage. The documentation *** Case Number Transfer was sent to Family First Funding in 3/23/2023, Rocket Mortgage still have not got the documentation. I tried messaging *****, I tried the number on the website and email, still no answer.It certainly feels like they are trying to stall the closing process with Rocket Mortgage.

  Business response

  03/30/2023

  Good Morning

  Unfortunately Rocket Mortgage did not contact the appropriate parties, however, this has handled this morning once we received our customer's request.

   

  It is resolved.

  Customer response

  03/30/2023

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Regards,
  
  ***********************

• Initial Complaint

  03/30/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  It took me a long time to write this complaint, because I am a good and honest person, that got hurt really bad.I would like to point out how *********************************** took the joy out of buying my first home. What he promised over the phone, unfortunately never put it in writing, that he will match any lower rate given to me, was a promise not keep and fulfilled. After sending him a proof from another bank, I was told sorry nothing I can do about it and I was asked to take the other offer. However, the other bank has 3 months long process and I had 3 weeks to get out of my apartment with two minor children. What a monthly payment supposed to be $3,200 it turned out to be $3,500 for the next 30 years of my life. All thanks to *****, who decided to get caught ** in numbers. Family First Funding puts money and profit first, and not the customers. I am so disappointed with he whole experience, and I feel tricked and used. I believed in his word, and in his promise and that is the biggest mistake I have done. Instead of having $300 a month to put away for the kids, I gave it to *****. He also promised we will do refinance free of charge, and guess what? He sold my policy to another bank within the first month. Another broken promise, another used client. He also accused me over the phone that I am trying to corner him into giving me a lower rate, however he was the one that offered me to match any lower rate I get. And I got it from ************** he just didn't wanted to hear it - hear out the customer. Be aware of **********************, apparently a family owned business, which cares about their family only. The person who works for him was very compassionate about the whole situation, because she realized what just happened.Purchased a house September *********************

  Business response

  04/11/2022

  In response to your complaint, Family First Funding takes these types of complaints extremely serious and customer satisfaction is our goal as we are a referral-based company.

  After careful review of the loan file, the initial loan application taken and disclosed to ********************************* on 6/30/2022 reflected the rate quoted and disclosed at *****%. The loan disclosures were executed on 7/1/21 by Ms.*********.  The rate was locked on 8/9/2021 at *****% which the disclosures were executed by Ms. ********* on 8/19/21.
  The initial closing disclosure was sent on 8/27/21 to the borrower reflecting the interest rate of *****% and executed by Ms. ********* on 8/27/21.
  The rate quoted initially to Ms. ********* by the Mortgage Loan Originator ***********************************, was *****% and remained the same throughout the processing and closing of the loan file.

  It appears that Ms. ********* was shopping for a better deal during the processing of the loan file at Family First Funding and received from another lender a loan estimate reflecting *****% on 8/13/2021, 4 days after the loan was rate locked and submitted to Ms. ********* for her review and execution of the rate lock disclosures.  
  The difference of the loan monthly payment from *****% to *****% is not $300.00 but $81.04, please see below.  The loan estimate that was submitted by Ms.********* did not include her homes owners insurance of $ ***** monthly as Family First Fundings did. Please see below.

  ************* Estimate missing ******************** included in escrow.

  Family First Funding closing disclosure including ******************** in escrow.

  **************** expressed to the borrower that he could not meet that rate and if she wanted to withdraw her application from Family First Funding to continue with ************* he would do so.
  **************** also credited Ms. ********* $995 towards her closing cost since he was not able to reduce the interest rate to ensure he had a happy customer.
  Please note the complaint states that we sold her policy to another bank, we are a Mortgage Banker, and we have the ability to retain or sell the servicing to the secondary agencies and also to our approved investors.Family First discloses this information at initial disclosures ( please see below), this does not mean that we could not refinance a borrower after selling the loan file. The refinance is a new loan application.

  The initial LE reflects that we Intend to transfer the servicing of your loan. 

  Our goal is customer satisfaction and repeat customers,there was no wrongdoing by Family First or **************** and in the contrary,Family First issued a lender credit to further satisfy Ms. *********.
  

  We hope this clarifies any discrepancies Ms. ********* may have.
  Thank you,
  *****************************
  Director Of Compliance

  Family First Funding LLC

   

  
  

  Customer response

  04/12/2022

  
  Complaint: 16965822
  
  I am rejecting this response because:
  

  Dear *****,

  The wrongdoing here is very obvious - Promising the client an empty promise just to gain the client to choose you, and afterwards denying it.

  I put my trust in your company and I believed in ******* word.

  Nowhere in you response, I see you comment on that - all I see are number and  trying to protect yourself legally.

  His selling point was "I'll match any lower rate you find" - and I did.

  I also never asked my rate to be locked, because I wanted to take advantage of the rate constantly dropping. If you read the emails from start to end, you will see that I asked how much does locking rate cost, but I never requested to be locked. When the forms were sent to me to sign, there were many mistakes and one of them was the box checked "Lock Rate". I was told sign the document as soon as possible, we need to work on it and don't worry we will fix it. Another of the mistakes was charging me for the Application Fee of $995 and then refunding it back to me.

  Let's agree to disagree.

  
  
  Regards,
  
  *****************************

*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. ↩