Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #12384330
Complaint Overview
Complaint ID: 12384330
Company: Bay Equity LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
Sub-Issue: Loan estimate or other related disclosures
State: Virginia
ZIP Code: 22041
Date Received: 2025-03-08T12:00:00-05:00
Date Sent to Company: 2025-03-08T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
In XX/XX/XXXX, I purchased a property through XXXX, which referred me to a loan officer from XXXX XXXX. I inquired about utilizing XXXX XXXX XXXX XXXX to XXXX with the down payment and closing costs. The loan officer informed me that using the grant would automatically increase my interest rate and advised against it. Trusting their expertise, I proceeded without the grant. Subsequently, during XXXX and XXXX XXXX friends acquired homes through different companies, and their loan officers incorporated the XXXX XXXX XXXX XXXX without affecting their interest rates. This discrepancy leads me to believe that Bay Equity may have misled me, possibly due to a lack of affiliation with the grant program. I attempted to contact Bay Equity for clarification but received no response. I now wish to file a complaint regarding this potentially misleading guidance. Bay Equity also shared my personal information with life and home insurance companies without my explicit consent. During the signing process, I was presented with multiple documents to sign sequentially, each introduced only by its general topic ; none explicitly indicated that my information would be shared with third parties. As a result, I have been inundated with numerous marketing calls.
Frequently Asked Questions
What is Complaint #12384330 about?
Complaint #12384330 was filed against Bay Equity LLC regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2025-03-08T12:00:00-05:00.
How did Bay Equity LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Bay Equity LLC?
Yes, visit the Bay Equity LLC company profile at readthecomplaint.com/company/bay-equity-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.