TD Bank US Holding Company Mortgage Complaint

TD Bank US Holding Company Mortgage department,

Other mortgage Application, originator, mortgage broker New Hampshire

On - -, 2016 I signed a purchase and sales agreement with the seller of a house with a time line of - calendar days until closing. Having already prequalified for a loan, I applied for a USDA guaranteed loan with TD Bank at their location at - - -, -, NH - on - -, 2016. I conducted this business with assistant store manager, - -. This day of official application I, and - -, signed a rate lock agreement to confirm my loan would be at a rate of 3.00 % ( exhibit - ). This rate lock was to be valid for 90 days. - - stated that the loan would take around or under 60 days to process, and that I would hear from my mortgage processing within 24 to 48 hours. On - -, 2016 TD Bank issued a loan disclosure for me to sign and return ( exhibit - ). This disclosure indicated they were processing my application for a loan product other than the one that I applied for ( - instead of USDA guaranteed ). This disclosure also


my new processor would be in touch with me the following day. On - -, 2016 TD Bank issued a loan disclosure for me to sign and return ( exhibit - ). This disclosure indicated the correct loan, but the wrong loan terms. The rate was indicated to be 3.5 %, and not locked in. On speaking with my new loan processor I learned that TD Bank had " no record '' of me having signed a rate lock form for a USDA loan. She also said they had no record of me submitting necessary documents to process the loan that were provided on - -, 2016. I provided my loan processor, - -, a copy of the signed rate lock form from - -, 2016 and asked if TD Bank would honor this document. On - -, 2016 TD bank issued a loan disclosure for me to sign and return ( exhibit - ). This disclosure again had the wrong terms, stating that my rate was now locked in at 3.5 %. Also issued by TD Bank on this day was another rate lock form they requested I sign and return indicating that my rate would be locked in at 3.5 % ( exhibit - ). On - -, 2016 I informed TD Bank that I was withdrawing my loan application due to their refusal to honor the terms of my original rate lock agreement. Due to the three week delay caused by TD Bank handling my loan in a negligent manner the new lender I applied with sought an agreement to extend the deadline for the purchase and sales agreement between myself and the sellers. Unfortunately, the sellers declined this and exercised their option to walk away from the deal due to our inability to meet the deadline for closing.