Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #4401578
Complaint Overview
Complaint ID: 4401578
Company: Cardinal Financial Company, Limited Partnership
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: California
ZIP Code: 90275
Date Received: 2021-05-24T12:00:00-05:00
Date Sent to Company: 2021-05-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Our refinance opened on XX/XX/2021. We were told that we locked in a rate of XXXX. We submitted all requested documents. We began to receive circular requests from Cardinal Financial via XXXX with " new to-dos. '' The same questions continued to be asked, to which we responded, but new to-dos continued to be issued. For example, I do not have a W-2 as a self-employed individual, but I continued to be asked for my W-2 despite telling Cardinal Financial I do not receive a W-2. We grew concerned as several months passed. Each time we checked in, a new to-do would be issued with more questions. It was like quicksand. In the meantime, the company sent an appraiser who billed us directly for {$1000.00}. I wonder if Cardinal had any intention of actually closing this loan, and wonder if they have an arrangement with their appraiser to generate fees and bill unsuspecting applicants. We were misled by Cardinal, and they now tell us that it is our fault for not turning in documents in a timely manner ( which is false ). We are now at the end of May, nearly four months after we opened this refinance, and we have no closing in sight. Meanwhile, we have missed out on the low rates that we could have gotten had we used a different company, costing us hundreds of dollars per month, and {$140000.00} over the life of the loan.
Frequently Asked Questions
What is Complaint #4401578 about?
Complaint #4401578 was filed against Cardinal Financial Company, Limited Partnership regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-05-24T12:00:00-05:00.
How did Cardinal Financial Company, Limited Partnership 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 Cardinal Financial Company, Limited Partnership?
Yes, visit the Cardinal Financial Company, Limited Partnership company profile at readthecomplaint.com/company/cardinal-financial-company-limited-partnership 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.