Umpqua Holdings Corporation Mortgage Complaint

Umpqua Holdings Corporation Mortgage department,

Conventional fixed mortgage Settlement process and costs Washington

I submitted an application to Umpqua Bank for a mortgage -/-/-, 2015 and was assigned a closing date of - -. - - was assigned as the mortgage banker. On the application I noticed that my home value was listed as $320000.00, where this figure came from I do not know. After the original good faith estimate was sent to me and prior to going forward and pre-paying for the appraisal, I asked - - if there were any issues that I should be concerned about and I was told no, everything was fine. Unbeknownst to me, the terms of the mortgage were based on a 60 % LTV which was exactly the $190000.00 I needed to pay off my existing mortgage. This was never explained to me until after I was sent a new good faith estimate which required me to pay an additional $1200.00 because the appraisal came back at $310000.00. When I questioned the appraisal, how - of the comps used and my property were valued the same by the appraiser, yet the comp was assessed $30000.00 less by - -, I received absolutely no reply from any representative at -. ( I sent multiple emails to


but when on - I was not able to meet with the title company, I did not hear anything from - - until - -, after the closing date, despite calling and emailing him several times. Lastly, despite providing proof that my second half taxes had been paid by my existing mortgage holder ( record of funds coming out of my existing escrow account and being disbursed to - - ) I was required to pay an additional $1300.00 to pay for the taxes. I was assured by - - that these funds would be held in escrow until the payment posted to - - website. That is not what happened! The funds were immediately paid to - - by - - -. After realizing what happened I contacted - - regarding this and he told me that he would contact the title company to have my money returned to me. I have yet to hear from - - or the title company as to a resolution of this issue.