Mortgage -- Closing on a mortgage -- Complaint #8879979
Complaint Overview
Complaint ID: 8879979
Company: Wallick And Volk, INC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Closing on a mortgage
Sub-Issue: Delays with the closing process
State: Wyoming
ZIP Code: 82007
Date Received: 2024-04-28T12:00:00-05:00
Date Sent to Company: 2024-05-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
XX/XX/2023 I contacted Wallick & Volk to apply for a mortgage on a property XXXX XXXX XXXX XXXX, Wy XXXX. This property was owned by an XXXX that I was a XXXX in. When I applied for the loan they insisted that I could just simply refinance onto the property from the XXXX straight to my name. My understanding was this wasn't possible, yet they insisted that my information was wrong and this was the " only option '' I had under these circumstances. I had already committed to paying for an appraisal and was not in a position to start again with another lender. We had fine communication and I we worked through the process as my other lending was coming due. The problem arose the week I was told we would be closing. I had been emailed a settlement statement so I assumed everything was ready for closing. This was late XX/XX/ 2023. We were 50 plus days into the process I'd payed for an appraisal and from all the communications from Wallick & Volk we were on track to close. I was even asked what day I preferred the closing to be. The Monday before closing I was contacted by my loan officer and told that this couldn't be done as a refinance and that we had to do it as a purchase. Basically starting over to the very point that I said we would have to from the very beginning. My time was almost to the end and they knew this so within a week by some miracle they had a " purchase '' agreement with higher interest ARM, I was made to pay for another appraisal, and 3 times the closing cost. since my time was almost up they even refused to negotiate the closing cost which came to {$14000.00} on a {$210000.00} loan.
Frequently Asked Questions
What is Complaint #8879979 about?
Complaint #8879979 was filed against Wallick And Volk, INC regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2024-04-28T12:00:00-05:00.
How did Wallick And Volk, 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 Wallick And Volk, INC?
Yes, visit the Wallick And Volk, INC company profile at readthecomplaint.com/company/wallick-and-volk-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.