CFPB Complaints

I am submitting a formal complaint regarding disclosure failures and last-minute loan changes by CapCenter that left me without a proper opportunity to review my final loan terms before my refinance closing. On Friday, XX/XX/year>, I signed what I was told was my final Closing Disclosure. The payoff amount listed of {$400000.00} included accrued interest only through my scheduled closing date of XX/XX/year>, but it did not account for additional per-diem interest that would accrue until the payoff was actually received and processed. This resulted in the payoff amount later needing to be increased. On the afternoon of XX/XX/year>, less than 24 hours before my scheduled closing on XX/XX/year>, I was sent a new Closing Disclosure by XXXX XXXX, Closing Consultant, with higher amounts and no explanation for the change. I had to compare the documents myself to discover that the payoff amount had increased to {$400000.00}. Immediately after receiving this updated disclosure, I contacted my Loan Consultant, XXXX XXXX XXXX ( XXXX ). XXXX told me he spoke with XXXX, and both of them agreed that the loan amount could be increased so that my cash to close would not change, since I could not obtain a new cashiers check on such short notice without delaying closing, and wiring additional funds would have required me to incur extra fees due solely to the late correction of lender-prepared figures. This appeared to be the only practical option to proceed with closing as scheduled. Although this loan amount change was agreed to on XX/XX/year>, I was never sent a revised Closing Disclosure reflecting the increased loan amount. I followed up with XXXX later that evening and again the morning of closing on XX/XX/year>, requesting the updated disclosure so that I could have time to review and sign it before closing. I also emailed XXXX the morning of closing. I did not receive a response from either of them. When I arrived at the closing table at XXXX XXXX on XX/XX/year>, I was told that both XXXX and XXXX were out of office. I was then presented, for the first time, the final Closing Disclosure reflecting the increased loan amount and corrected payoff. I did not have a reasonable opportunity to review these final terms in advance and felt pressured to proceed in order to complete the refinance. In addition, throughout the process there were multiple instances where figures on my disclosures were incorrect, including homeowners insurance amounts, which I had to identify myself and request corrections for. On at least one occasion, XXXX acknowledged this by stating, thank you for catching that. While I appreciate the corrections being made, these were figures taken from documents already in the lenders possession, and I should not have had to repeatedly identify and request fixes to basic financial data. This situation was caused by failure to ensure the payoff amount reflected all required interest and by failure to provide timely and accurate final disclosures after loan terms were changed, including failure to provide the final Closing Disclosure before both responsible parties were out of the office. As a result, I was required to accept loan terms that would not have been necessary had the payoff been calculated and communicated correctly earlier and had proper disclosures been provided in advance. I am requesting that this matter be reviewed by compliance and management, that I be provided with a written explanation of how these errors occurred, and that CapCenter consider appropriate remediation or goodwill compensation for the inconvenience and process failures involved.

Category : Mortgage Refinance VA Loan Issue : Refusal to honor rate lock, excessive fees, lack of written disclosures Summary : CapCenter failed to honor my request to re-lock a lower rate after my original lock expired. Despite multiple written requests and references to VA lending regulations, they refused to confirm terms in writing and quoted a {$1700.00} fee to break the lockwithout any signed disclosures or binding agreement. They are now insisting I remain locked at 6.125 % APR, despite my documented efforts to secure a lower rate before expiration. I am a XXXX veteran with a XXXX FICO score and a {$220000.00} refinance application. I have since received a better offer from XXXX XXXX. I believe CapCenters conduct violates fair lending practices and VA guidelines.

I am submitting this complaint regarding a potential violation of the Real Estate Settlement Procedures Act ( RESPA ) and Virginia Code 55.1-1006 by CapCenter, a licensed mortgage and title services provider in the XXXXXXXX XXXX Virginia . On XX/XX/2025, I called CapCenter and spoke with XXXX ( XXXX ID # XXXX ) regarding a client of mine who had received a Loan Estimate from CapCenter offering XXXX fees for title services under Sections B and C. My client had opted to work with me as their mortgage lender, but was interested in retaining CapCenter 's title services due to the significant cost savings advertised. However, XXXX informed me that CapCenter will not allow borrowers to use their title services unless they also use CapCenter as their mortgage lender. I specifically asked whether my client could proceed with CapCenter Title while securing financing through my brokerage, and I was told unequivocally that this was not permitted. This practice appears to violate : RESPA Section 9 ( 12 U.S.C. 2608 ), which prohibits conditioning the sale of title services on the use of an affiliated service provider. RESPA Section 8 ( a ), which prohibits required use arrangements and unearned fees. Virginia Code 55.1-1006, which affirms the buyers right to choose the settlement agent and prohibits requiring the use of a particular one as a condition of the transaction. By refusing to honor a consumers independent request to use their title company, CapCenter is engaging in a form of anti-competitive behavior that restricts consumer choice, limits fair competition in the title market, and undermines federal and state consumer protections. I respectfully request that this conduct be investigated and that CapCenter be required to revise their practices to ensure compliance with RESPA and Virginia law. I am available to provide additional documentation or witness testimony if needed. Thank you for your attention to this matter.