Summit Funding, Inc. Mortgage Complaint

Summit Funding, Inc. Mortgage department,

FHA mortgage Application, originator, mortgage broker California

My husband and I tried to refinance our home -/-/-. We went through the process with a lending company, provided our personal information, paid for the property appraisal and by -/-/- or -/-/- we were told that everything was just about complete and ready for final approval. So In -/-/- I call the finance person handling our loan since we were approved and a check was being cut to pay off the current mortgage company, was it necessary to pay our -/-/- mortgage and we were told no, to hold on to it. ( I have the email message pertaining to this ). A week later we were still waiting for final approval and the finance company needed additional information, which we provided and we were told everthing was going well that we should have final approval by the end of the week. We contacted the company again and more information was required, now it was our credit report and we were told that we needed to pay down one of our credit cards in order to get our credit score to rise. So we paid $500.00 on one of our credit cards as requested. By now it 's -/-/-.


mortgage payment for -/-/- was 30 days late. I called the finance company that was processing our refinance and explained to him what was going on with the mortgage company and he claimed that he never told us not to pay our mortgage for -/-/- and that this negative mark on our credit report would more then likely not help our refinance. After this conversation we did not hear back nor receive anything from the finance company until 30 days later. We received in the mail a letter stating that our refinance loan was approved but not used. So I called the person that was helping us with the refinance loan and he had no ideal what the letter meant, that he would look into it and get back to us, he never did. We also contacted him concerning the negative marks on our credit report from the many unecessary times that they had to run our credit report and the negative mark from the late mortgage payment, he said that he would assist with writting a letter concerning what had transpired, he never did. He referred us to a credit repair company which is now going to cost us $1500.00 to repair the mess caused by this finance company 's lack of follow through. So now we are out of the $470.00 appraisal fee, $500.00 to pay down the credit card, additional fees charged by our mortgage company for the late mortgage payment, negative credit ratings and being required to pay $1500.00 to fix something that the refinance company was responsible for due to their bad advise and unorthodox operating procedures, which has left our family with a financial headache.