Complaints

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:06/24/2024

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My husband sold his father's house after passing to his daughter. We dealt with ******* and ***** from KBL solutions. This was our daughter's first time buying a home. They told my husband 2 weeks after she signed declaration she didn't qualify for first time due to non arms length transaction and she didn't 20% down, never telling her directly . After doing research of our own we saw she still qualified for the 3.5% down due to the first exception FHA has, we notified them. They than recommended she get a gift of equity letter. The amount of the gift of equity was changed several times but ended up saying it would cover both down payment and closing cost. We ask were this money would come from and was told it was from this gift letter several time both by ******* and *****. At closing we found all the letter did was switch down payment and closing to seller. Even at closing they still were trying to state it should be on us it was from letter. We continued closed cause so much drama and issues but lost $13900 on sell of property because they were told the amount want to net and did not. We have emailed them the Kbl Solution and United Wholesale Mortgage in hopes to resolve but nothing. We have now filed formal complaints. I would not recommend to anyone!!

  Customer Answer

  Date: 06/25/2024

  We started process with coast 2 coast with ******* and they used KBL solutions with ***** and uwm mortgage is our daughters mortgage company they had ***** as underwriter and anchor was the closing company.   *******, ***** and ***** were the ones who wrote up the contract and said ***** would owe no closing cost or down payment and knew we wanted to clear $110,000 when we only cleared $96,081 cause they took all ***** closing cost and down payment from us the seller.  

  Business Response

  Date: 06/27/2024

   

  Good afternoon,

       We'd first like to apologize for any confusion or miscommunication.  The mortgage process can be daunting and there are thousands of points of data that can make the difference between a smooth transaction and a difficult one.  On this loan, I've reviewed the file and communication available between the **** underwriter, buyer and assistant.  The *** did miss that FHA has an exception to the identity of interest which would then allow the file to have maximum financing instead of the required 15% down.  She approached the underwriter who is the point of contact for guideline clarification. The ** confirmed that the loan to value could go the maximum at 96.5%.  She provided that information to the borrower's father and all parties were on board.  The appraisal came in at $137,000 versus the original purchase price of $110,000.  The borrower's father and ******* discussed increasing the sales price in order for the father to net more funds.  That appears to be where the miscommunication occurred.  The "lost" funds referenced were not charges to the borrower.  All of the funds were from a gift of equity. The borrower's father was told several times that the gift would be reduced from his net proceeds.  At closing, when it was discovered that the sales price was not increased (which would have increased the payments for the daughter's PITI but would have netted the father more funds) and the father was not netting what he expected, ******* asked for an additional day to make corrections and have the sales price increased.  The borrower and her father chose not to proceed with the delay in closing and chose instead to close at the terms shown.  There was no intent on the ***'s side to confuse or mislead the borrower or her father and the lower loan amount was beneficial for the borrower.  All communication from the *** and processor clearly reflected that the gift was a gift of equity which means that the gift is from the EQUITY of the property and not an actual 'written check' from the father.  This was explained to the father multiple times.  We would like to stress that the borrower herself benefited from the lower loan amount.  We again apologize that the loan amount (and sales prices ) was not increased which resulted in the father, ****, not making the proceeds he desired.

   

  Sincerely,

  *************************

• Initial Complaint

  Date:01/03/2024

  Type:Sales and Advertising Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My experience was nothing short of horrible. I was asked multiple times for the same documents as was my builder. His bookkeeper eventually refused to correspond with C2C any longer because they kept accusing her of not completing or sending items. They were sent my full build estimate in the very beginning but then asked for the items I had paid for out of pocket to be separated into 2 estimates which we did and sent several times. They used the incorrect estimate when calculating my loan and in the last days before I was to close I was told I no longer qualify and the broker ******* **** claimed that we never sent the correct estimate. There was no accountability taken. It was sent by myself on 7/6/23 and also by my builder who could see the exact date and time they had opened the email through his QuickBooks account. Once the news of no longer qualifying was broken to me I was told they had a phone meeting with a new lender the next morning and they would give me a call with how it went. I got their call the next day and was given an unrealistic list of things I needed to do to qualify for the loan I had been working on. I asked what happened in the meeting with the new loan officer and was told by ******* that she didn’t bother calling them. I asked for my appraisal fees and fee for approving my builder to be returned with the expected response that they’re non-refundable and they wish me the best. Now I remain homeless, staying with family with my children and out money that I need to start over with a new loan officer as the process needs to now be restarted from scratch.

  Business Response

  Date: 01/09/2024

  Good day,

       We are extremely sorry that ******* ******** had a less than excellent experience with our company, Coast2Coast.  We do pride ourselves in doing the absolute best possible for all of our clients and referral partners.  **** ******** was recommended to our mortgage loan officer, ******* ****, by ********* processor in July.  **** ******** informed ********* processor that her loan was previously declined by another lender and the processor suggested to **** ******** that she contact ******* ****.  ******* originated the loan and was sent written documentation showing that the build price was $473,385 in July.  During the processing of the file, we found out that additional work was added and that the total cost increased to $587,932 which increased an already strained debt to income ratio.  The builder sent over multiple sales price documents with varying amounts during the process until we finally, in December, received the 'completed' agreement.  Additionally, the credit report we had expired and we had to update the credit report.  Debts that were previously zero balance had been used and now needed to be counted into the debt to income ratio.  Between the two major issues (increased loan amount and increased debt) the loan no longer qualified.  

       Regarding the appraisal and builder fees, we offered to transfer our appraisal to any new lender that **** ******** finds.  ******* ****, the MLO, worked for months to attempt to get the loan approved.  We all were under the impression that we were good on the  loan up until December when we had the new total cost to build sent to us and the new debts.  We hope it is clear to **** ******** and every client that we truly want the loans to go as smooth as possible and close timely and efficiently.  We do not get paid if the loans do not close and we do not get business from unhappy customers.  We truly are sorry that **** ******** had a bad experience and we wish we could have closed her loan for her almost as much as she wishes we could.

   

  Sincerely

  C2C

  Customer Answer

  Date: 01/09/2024

  
  
  

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed Administratively Resolved]

  
  

   Complaint: ********

  
  

  I am rejecting this response because: this information is very inaccurate I was NOT declined by a previous loan officer as this was my FIRST TIME applying for a mortgage since purchasing my home many years ago. As stated the estimate she is claiming that showed up in the middle or end of the process was sent IN THE BEGINNING and also as stated I have time and date stamped proof of this that I can provide. NOTHING was added to the build! As a business owner myself I know actually listening to a customer is important. The fabrication and lies about the actual events has me FURIOUS. The ball was dropped by them not providing the correct information to the underwriters and now I’m out an appraisal fee, builder approval fee and most importantly my time. 

  
  

  Regards,

  
  

  ******* ********

  
  

  
  

  
  

  
  
  

  Business Response

  Date: 01/11/2024

   

  We again give our sincerest apologies to **** ******** that we were unable to close her loan with the information we had available.  When we originated the loan in August of 2023, our credit report reflected that **** ******** originally worked with U Mortgage.  **** ******* was her MLO.  Granite, the builder, was copying him on many of the initial emails to our company as he had an open application.  On August 10th, we asked both Granite and the company we were working with to cease cc'ing *** ******* as **** ******** had switched lenders and was now working with our company.  It was our assumption that he was unable to complete the transaction which caused her to switch to us and our assumption could be inaccurate.

  Regarding the sales price, we have attached the two contracts we received that shows the sales price of $433,340.  We did not receive updated contracts until December.  We again cannot express enough how sorry we are that we were unable to close the loan transaction.  We truly tried our best to close the loan to meet **** ********'s financing needs.  We certainly acknowledge that there are areas that we could absolutely improve our process and we hope to learn from this experience.  Our MLOs and processors are now instructed to ask for updated contracts on a regular basis and to closely monitor the credit expiration date and confirm with all borrowers on the use of credit.  ******* ****, the MLO on this transaction, is one of our most experienced and conscientious loan officers we employ.  On her behalf and on behalf of Coast 2 Coast, we again apologize that we were unable to close the transaction and we sincerely hope that **** ******** is able to purchase her home with no further difficulties.