PHH Mortgage Mortgage Complaint

PHH Mortgage Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker California

We contacted PHH Mortgage, our loan company ( and several others ) to request a refinance of our loan on our primary residence. Our current loan is $550000.00, 30 year ARM at 3.5 %. We intend to pay down the loan with cash from a house we sold in -/-/-. The new loan would be $190000.00 for 15 years, and after completion of loan application we were informed that we were locked in at a rate of 2.875 % After several days we did not hear back from PHH, I called to inquire when we would need to provide various documents to complete the loan process. At that time I was informed that due an error on PHHs part the rate did not get locked in and now it would be 3 %. I thought this type of " bait and switch '' practice was illegal, but apparently the practice has not discontinued. Here is the contact info. PHH Mortgage - - ID - - - - - -, New Jersey - Loan ID -