Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #4502814
Complaint Overview
Complaint ID: 4502814
Company: Freedom Mortgage Company
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: Arizona
ZIP Code: 850XX
Date Received: 2021-06-29T12:00:00-05:00
Date Sent to Company: 2021-06-29T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Freedom mortgage is my current loan servicer for a rental property I own. Their XXXX XXXX XXXX XXXX XXXX XXXX ID # XXXX ) reached out to me to reduce my rate. XXXX quoted me a rate and advised there would be no cost associated with that rate. As such I allowed him to continue with the application and pull credit. He later contacted me and stated that I would be charged basis points in order to be allowed that rate- not because of my credit score but because of the nature of the loan. This was never communicated to me. He never advised me that the rate he quoted me would or could have associated charges. He misled me into thinking I could get that rate assuming my credit score was as I quoted him. When I asked to speak with a manager to advise what had happened - the manager stated he should not have advised that the rate would not have associated fees. This misled me into a false understanding and I now have a hard inquiry on my credit that was completely unnecessary.
Frequently Asked Questions
What is Complaint #4502814 about?
Complaint #4502814 was filed against Freedom Mortgage Company regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-06-29T12:00:00-05:00.
How did Freedom Mortgage Company 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 Freedom Mortgage Company?
Yes, visit the Freedom Mortgage Company company profile at readthecomplaint.com/company/freedom-mortgage-company 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.