Sales agent Janice ** made a big mistake on my application and lied to me about it. I was re-financing my reverse mortgage and I had to chose a plan that would lock in interest rates on an annual or monthly basis. I chose the annual rate program, mostly based on the agent’s recommendation.
The agent then signed me up for the monthly program instead. I only found out about it when I received the HUD-1 form just before closing.
I immediately notified the agent and she told me that I had chosen the monthly program and if I were to switch to the annual program now it would be at a higher interest rate and they would also charge me a $6000 origination fee, which hadn’t been included on either option that I was originally offered.
I felt sure that I selected the annual plan and asked the agent if she was sure and about that. She said yes.
Later she said that the monthly plan was all that we had discussed and even left me with the impression that she had listened to the recording of our conversation and confirmed that I had said that I wanted the monthly plan. I went on to closing with the monthly plan as that was my best option.
The day before closing I sent an email to the agent saying that I was okay with everything, but again expressed my belief that I had actually chosen the annual program.
The answer I got from the agent was more gaslighting about me choosing the monthly program and another offer to switch to the annual program with an even higher interest rate plus the $6000 origination fee.
Well, I had had enough of this. I contacted a supervisor and said that unless I could listen to the recording of my phone call I was canceling the loan. The supervisor listened to the call and told me that I was 100% correct in that I did request the annual rate program.
I told the supervisor that I wanted a new loan with the annual program with the same interest rate that I would have got originally or else I was canceling the loan. Liberty wouldn’t do it. I then said that I would go ahead and keep the loan if my sales agent emailed me and explained herself.
I never heard from her, so I canceled. I’m not going to do business with a company that won’t fix their mistakes and has an agent that systematically lies to me.
I addition to this, while I was applying for my loan, my contact information was attached to another couple’s name and I was getting calls and sensitive mail from Liberty intended for them.
Also the closing had to be rescheduled because of Liberty’s mistake. I was notified, but the notary person wasn’t.
