Mortgage -- Closing on a mortgage -- Complaint #6154127
Complaint Overview
Complaint ID: 6154127
Company: Paramount Residential Mortgage Group
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Closing on a mortgage
State: Florida
ZIP Code: 33073
Date Received: 2022-11-01T12:00:00-05:00
Date Sent to Company: 2022-11-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
XXXX XXXX, a lender from Paramount Residential Mortgage, deceived me into believing that the Federal Housing Administration required me to purchase discount points to purchase a home. XXXX XXXX repeatedly stated that the {$8200.00} I questioned would go directly to FHA to buy discount points. XXXX XXXX also claimed that he couldn't lock my interest rate immediately after receiving my loan application and disclosure. XXXX XXXX stated that he needed a completed home appraisal before he could lock in my loan. XXXX XXXX waited two days to lock in my interest rate during inflation. This time lapse caused my interest rate to increase from XXXX to 7 %. Per XXXX XXXX, this increase left him no choice but to charge me for more discount points. After further research, contacting FHA customer service, and speaking to a HUD counseling representative, I discovered that XXXX XXXX 's claim regarding discount Points was false. After obtaining this knowledge, I was confined to my Realtor, XXXX XXXX, who did nothing to protect me from this situation because she worked with XXXX XXXX often. XXXX XXXX reported to XXXX XXXX that I would seek out new Leaders. In anger, XXXX XXXX contacted the seller 's listing agent in an attempt to force me to sign and pay for the discount point. With the help of my realtor XXXX XXXX ( who XXXX XXXX recommended that I use ), XXXX XXXX successfully forced me to pay for discount points that weren't required. XXXX XXXX, a lender from Paramount Residential Mortgage, deceived me into believing that the Federal Housing Administration required me to purchase discount points to purchase a home. XXXX XXXX repeatedly stated that the {$8200.00} I questioned would go directly to FHA to buy discount points. XXXX XXXX also claimed that he couldn't lock my interest rate immediately after receiving my loan application and disclosure. XXXX XXXX stated that he needed a completed home appraisal before he could lock in my loan. XXXX XXXX waited two days to lock in my interest rate during inflation. This time lapse caused my interest rate to increase from XXXX to 7 %. Per XXXX XXXX, this increase left him no choice but to charge me for more discount points. After further research, contacting FHA customer service, and speaking to a HUD counseling representative, I discovered that XXXX XXXX 's claim regarding discount Points was false. After obtaining this knowledge, I confined my Realtor, XXXX XXXX, who did nothing to protect me from this situation because she worked with XXXX XXXX often. XXXX XXXX reported to XXXX XXXX that I would seek out new Leaders. In anger, XXXX XXXX contacted the seller 's listing agent in an attempt to force me to sign and pay for the discount point. With the help of my realtor XXXX XXXX ( who XXXX XXXX recommended that I use ), XXXX XXXX successfully forced me to pay for discount points that weren't required. The only option I was given by XXXX XXXX and XXXX XXXX was to sign the closing documents or lose my {$20000.00} Deposit. .
Frequently Asked Questions
What is Complaint #6154127 about?
Complaint #6154127 was filed against Paramount Residential Mortgage Group regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2022-11-01T12:00:00-05:00.
How did Paramount Residential Mortgage Group 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 Paramount Residential Mortgage Group?
Yes, visit the Paramount Residential Mortgage Group company profile at readthecomplaint.com/company/paramount-residential-mortgage-group 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.