Mortgage -- Closing on a mortgage -- Complaint #6460373
Complaint Overview
Complaint ID: 6460373
Company: River City Mortgage LLC
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Closing on a mortgage
State: Kentucky
ZIP Code: 410XX
Date Received: 2023-01-19T12:00:00-05:00
Date Sent to Company: 2023-01-19T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XX/XX/XXXX we sought out a mortgage on a double wide home on a permanent foundation. We got pre approval from this company but later was told they dont fund mobile homes. So our realtor suggested a new company, River City Mortgage. Based on his suggestion we applied for the mortgage through them. We got the pre approval letter on XXXX along with the i rial disclosures. We submitted every document they requested within one business day. We then had the appraisal submitted on XX/XX/XXXX and it appraised at {$190000.00} which was {$2200.00} under our offer. My realtor called and asked what I wanted to do and I said I would not cover the difference. He told me the seller might walk away and I said thats fine and that if she walks away she walks away because we arent covering the difference. My realtor called me back very quickly and told me that the appraiser is going to fix the report to get it to our offer. I was led to believe that this was a small typo error. After that I was told we are closing before the new year. Then day after day we were delayed all the way up until XX/XX/XXXX when I asked my loan officer what has been taking so long. Thought this process I was told it was because the underwriter needed to review documents we submitted, but on Saturday the XXXX, the loan officer responded with the appraisal. I responded with oh how there was a typo error? He then answered with a long message that stated Well kind of the appraisal came in low because the appraiser incorrectly used the assumed sale price of XXXX when it was XXXX Then the sellers realtor called the appraiser and had her change the value ( illegal move between us ) and then told me about it AFTER Then the realtor increased it and noted it was based off of the sale price increasing ( not a valid reason to increase value ) So, its just been a XXXX show of trying to make sure the appraisal remains usable and complaint without having the underwriter report the act that happened because she can likely tell. So after talking with those close to me I decided to step away from the deal based on the above text. The illegal and unethical acts taken by the seller agent and the appraisal company and anyone involved in the cover up there in. Everyone wanted to steal the {$2200.00}, that the house didnt appraise, for from my fianc and I. Everyone benefited from this collusion except for us. This collusion made us feel cheated, disgusted, and distrusting in everyone involved.
Frequently Asked Questions
What is Complaint #6460373 about?
Complaint #6460373 was filed against River City Mortgage LLC regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2023-01-19T12:00:00-05:00.
How did River City Mortgage LLC 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 River City Mortgage LLC?
Yes, visit the River City Mortgage LLC company profile at readthecomplaint.com/company/river-city-mortgage-llc 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.