Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #4619469
Complaint Overview
Complaint ID: 4619469
Company: Winnpointe Corporation
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: California
ZIP Code: 90807
Date Received: 2021-08-10T12:00:00-05:00
Date Sent to Company: 2021-08-10T12:00:00-05:00
Company Response: Untimely response
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
While researching mortgage rates, I came across this advertisement that was misleading and deceptive. I've attached a picture of the ad to this complaint. I was ready to apply for the 1.5 % rate until I learned that the APR is 1.915 % when you see the small print. I understand federal law requires a mortgage lender to advertise the APR rate at the same font size of the rate and as you can see, the APR is much smaller. This is a deceptive practice and a violation of federal law. I've decided to take my business elsewhere. Thank you.
Frequently Asked Questions
What is Complaint #4619469 about?
Complaint #4619469 was filed against Winnpointe Corporation regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-08-10T12:00:00-05:00.
How did Winnpointe Corporation respond to this complaint?
The company responded with: "Untimely response". The response was not 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 Winnpointe Corporation?
Yes, visit the Winnpointe Corporation company profile at readthecomplaint.com/company/winnpointe-corporation 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.