TD Bank Mortgage Complaint

TD Bank Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker Connecticut

Dear CFPB : My husband and I applied for a refinance with TD Bank, where we have our accounts, of our - - - home loan for our house - from a 30-year mortgage to a 15-year loan. We submitted all the forms to TD. The first issue that was problematic was that the loan officer, - -, repeatedly filled out inaccurate information on our loan documents including inaccurate salary information and insurance and tax rates, and was very difficult to reach to correct the problems. While we were working to get her to correct the information, TD Bank sent us a letter that our application was denied because the bank 's appraisal of our home came in much lower than was necessary to approve the loan based on equity in the house. The appraisal was much lower than market price, lower than the town appraised our home at for tax purposes, as well much lower than an appraisal that was conducted six months earlier. Nevertheless, because the bank denied our refinance application to a 15-year loan as submitted and it would cost us additional money to contest the bank 's appraisal and request another -, we requested the refund


in other states. ) In fact, bank representatives assured us our fees would be refunded if we had gotten all the information to the bank in a timely manner - which were did - but the bank denied the loan and that if we were n't denied, we 'd be able to receive a $700.00 closing credit because we had submitted all our paperwork in a timely manner. Instead we are stuck with a $600.00 charge on our credit card by the bank. By not disclosing that these fees for the appraisal report and credit report were nonrefundable - no matter whether the bank approved the loan or not - the bank is engaging in false and deceptive advertising of its refinance loan products and services. We request CFPB contact TD Bank to have our fees returned but also to correct this deceptive marketing issue for all other customers as well.