Caliber Home Loans Complaint

Caliber Home Loans, Inc Mortgage department,

FHA mortgage Application, originator, mortgage broker Florida

My wife and I submitted an offer on - - -, -, FL, -. We already had financing in place and submitted our pre-approval letter with our offer. However, in order for our offer to even be considered, Caliber Home Loans required that we get pre-approved through them. I was not comfortable with this as I know RESPA strictly forbids mortgage steering even if it is for pre-qualification. We cave to their request because we absolutely love the home and wanted to start our family there. It went to a highest and best offer scenario, which the listing agent, - -, contacted my agent on -/-/2015 around - and advised her that Caliber Home Loans accepted our offer, contingent on the change of the closing date, reduce inspection period to 7 days, and they wanted us to use Caliber Home Loans financing. I was again uncomfortable with this " mortgage steering '' activity, but we love the home and did n't want to lose it. Caliber Home Loans interest rate was - % while I was pre-approved at - % with my already secured financing. My

On -/-/2015 at -, I received an email from - - at Caliber Home Loans stating, " Congratulations! I understand that you have an accepted contract on the - property. I would like to schedule a time to talk with you about next steps. When will you be available to talk? " I did not hear back from - after informing him I was available to speak at anytime. At approximately around -, I was then informed by my realtor that there was a mix up and - Caliber Home Loans representatives were working on the file and - offers were simultaneously accepted and that the bank decided to accept other offer. Not only did we lose the home of our dreams, we have received an additional hard credit inquiry on our credit as a result of the listing agent and his client participating in the forbidden act of " mortgage steering. '' If our offer was accepted, we would have instant equity in the home in the area of $30000.00. Further, Caliber Home Loans fees seem to be relatively high and the least sophisticated consumer would not know any better.