Mortgage -- Closing on a mortgage -- Complaint #4421993
Complaint Overview
Complaint ID: 4421993
Company: Snapfi, INC.
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Closing on a mortgage
State: California
ZIP Code: 952XX
Date Received: 2021-06-01T12:00:00-05:00
Date Sent to Company: 2021-06-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
After signing all our loan docs on XXXX/XXXX/21 and the loan was " funded '' the loan agent texted me onXX/XX/2021that we needed to bring in another {$4500.00} into escrow or they were going to resend the loan. They explained that it was due to the down payment assistance program XXXX not being the amount they had told me. It feels like a bait and switch situation has occured. We were completely mis-lead. The lender knew we had the funds as it was one of the requirements of the down payment assistance program we they qualified us for. The loan agent was XXXX XXXX CA License # XXXX XXXX XXXX and the lender was Snapfi , IncXXXX NMLS # XXXX. We did take the money in as we felt we should go ahead and close on the house considering how difficult it was to actually buy in this market and try to get our money back after the fact.
Frequently Asked Questions
What is Complaint #4421993 about?
Complaint #4421993 was filed against Snapfi, INC. regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2021-06-01T12:00:00-05:00.
How did Snapfi, INC. 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 Snapfi, INC.?
Yes, visit the Snapfi, INC. company profile at readthecomplaint.com/company/snapfi-inc 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.