Member says Newport Beach mortgage company won’t return papers

Member says Newport Beach mortgage company won’t return papers

Member complaint

I hired CMG Financial of Newport Beach, Calif., to refinance the loans on my residence and an investment property. The refinance on my residence dragged on for four months, but went fairly well.

They originally promised the process would take 30 days. The finance on the second property was an absolute disaster, and the process drug on for six months as the lender kept stalling. The repeatedly requested the same documents, but never provided the Good Faith Estimate, which is legally required. The second set of settlement documents included additional points and charges totaling more than $4,000. I feel they tried to sneak in these charges, so I withdrew the application.

I loaned them a portfolio containing paperwork on the original loan, and they haven’t returned it. I want the portfolio of original loan documents returned.

Renae Hay, Redlands, Calif.

Status

Penalty box

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