Capital Financial Mortgage Corporation

Review: I have been dealing with this company since the second week of December. I signed a good faith estimate on 12/30/12 with a rate of 2.65 percent. I was told on 3 occasions that there would be no origination fees but when the documentation was faxed to me there was a fee of $795. I was told to circle the amount and initial it stating that it was an error. Several days later I was informed that this was a valid charge and I would be responsible. After several failed attempts to contact the agent, I called and spoke to the branch manager. He agreed to remove the fee based on misinformation. On 2/4/13 I was informed of more additional charges that would be due in the form of private mortgage insurance. This loan is an HARP 2.0 loan that in my situation DOES NOT APPLY. I have forward a copy of the [redacted] rules and regulation to the mortgage company with needed proof. (Documentation)

The problem is fees and total cost was misrepresented. Even if the mortgage insurance did apply why did they inform me 5 weeks after signing the agreement? (Bait and switch)

Today is March 6, 2013 I attempted to contact the company on 2/28/13 and again yesterday. Both times the secretary forwarded the call to voice mail. I was finally called back yesterday by the branch manager. He was unsure of the home appraisal and said he would call back shortly. That was more than 24 hours ago.

It appears that the company is making every effort not honor a written agreement. As of this written complaint the interest rates have gone up considerably. To obtain a loan at today’s rates will cost upward of nine thousand dollars more.

I have a small home office, any information that was needed was readily returned in quick fashion same day or mostly within the same hour. There is no excuse for the delay and changing of agreed upon closing cost and interest rates.

They are looking for excuses to try and change the written agreement. My feeling is that if interest rates would have dropped, I would not be put into this situation.Desired Settlement: The return of the home appease fee and to warn others about this highly unethical business practice.

The appraiser showed up late, took a cell phone out of his pocket to take pictures for the appraisal and spent no more than 15 minutes performing it. I have no written confirmation of what the house appraised out for. I have been verbally told it appraised out for 230k and 221k. Obviously they are not sure.

Review: Capital Financial Mortgage company fraudalently represented their capabilites to fund and process a refinance of a home mortgage. They and their agents took my application, secured ** approval for the loan, allowed closing to occur and then failed to fund the mortgage and therefore caused the loan to be cancelled. I believe they represented themselves inaccurately to the title company, closing company and holding company causing me and the other companies to loose the mortgage. They have subsequently closed their offices without any attempt to rectify the situalion. I believe the Department of Banking is looking for the owners to optain compensation or fines as well as to possibly pull their license as a lender. I also believe that at least a dozen other individuals were caused similar losses.Desired Settlement: they have caused immeasurable damage to me and others which may result in loss of credit rating, impact of refinancing of mortgages and general other damages