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  1. #1
    isaacheung is offline Junior Member
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    Angry Can I sue Citimortgage?

    I live in California and the agency who I have been contacting is in Michigan.

    I currently have a mortgage with CitiMortgage. I was solicited by CitiMortgage to reduce my interest rate from 5.85% to 5%. Instead of making the adjustment internally as they did before, they made me go through a tedious loan refinance application with $800 application fees. When I spoke to them on the phone for pre-qualification I specifically asked them how good the chance of getting it approved and the answer was very positive. After a month of tedious document submission back and forth they finally declined my application.

    Question: Can I sue them to get my $800 back?

    By the way, CitiMortgage is very sneaky now. They promised me to give me a credit card with one year interest free with the application. But I got another letter from their credit card department few days later saying my credit card application was declined because they could not verify my employment. They requested me to provide tons of document that normally you won't need for credit card application such as few years of tax returns. Just for you info. Don't deal with this company because they are not very honest.
  2. #2
    HomeGuru is offline Senior Member
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    Quote Originally Posted by isaacheung View Post
    I live in California and the agency who I have been contacting is in Michigan.

    I currently have a mortgage with CitiMortgage. I was solicited by CitiMortgage to reduce my interest rate from 5.85% to 5%. Instead of making the adjustment internally as they did before, they made me go through a tedious loan refinance application with $800 application fees. When I spoke to them on the phone for pre-qualification I specifically asked them how good the chance of getting it approved and the answer was very positive. After a month of tedious document submission back and forth they finally declined my application.

    Question: Can I sue them to get my $800 back?

    By the way, CitiMortgage is very sneaky now. They promised me to give me a credit card with one year interest free with the application. But I got another letter from their credit card department few days later saying my credit card application was declined because they could not verify my employment. They requested me to provide tons of document that normally you won't need for credit card application such as few years of tax returns. Just for you info. Don't deal with this company because they are not very honest.
    **A: what paperwork did you sign or agree to for them to process the $800 application fee?
  3. #3
    isaacheung is offline Junior Member
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    Quote Originally Posted by HomeGuru View Post
    **A: what paperwork did you sign or agree to for them to process the $800 application fee?
    A loan application (agreement) more like a HUB-1 was what I signed.

    But they sent their appraiser to my house even before I signed the agreement.
  4. #4
    HomeGuru is offline Senior Member
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    Quote Originally Posted by isaacheung View Post
    A loan application (agreement) more like a HUB-1 was what I signed.

    But they sent their appraiser to my house even before I signed the agreement.
    **A: don't you mean HUD-1? A HUB-1 is signed at Pep Boys.
    And the $800 fee is nonrefundable correct?
  5. #5
    isaacheung is offline Junior Member
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    Quote Originally Posted by HomeGuru View Post
    **A: don't you mean HUD-1? A HUB-1 is signed at Pep Boys.
    And the $800 fee is nonrefundable correct?
    I am sure CitiMortgage's document must have all the protection for them. My point is: they lured me into applying the refinance with sales talk and then declined me. They are my current mortgage provider and they should have known whether I qualified or not. My payment record with them has been super. My credit score is super too, 810.
  6. #6
    HomeGuru is offline Senior Member
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    Quote Originally Posted by isaacheung View Post
    I am sure CitiMortgage's document must have all the protection for them. My point is: they lured me into applying the refinance with sales talk and then declined me. They are my current mortgage provider and they should have known whether I qualified or not. My payment record with them has been super. My credit score is super too, 810.
    **A: then file a complaint with BBB, ripoff report, state consumer protection office etc.
  7. #7
    Zigner is offline Senior Member
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    Quote Originally Posted by isaacheung View Post
    I am sure CitiMortgage's document must have all the protection for them. My point is: they lured me into applying the refinance with sales talk and then declined me. They are my current mortgage provider and they should have known whether I qualified or not. My payment record with them has been super. My credit score is super too, 810.
    So, all-in-all, this is just a rant, right? I mean, you KNOW that Citi's butt is covered, right?
  8. #8
    HomeGuru is offline Senior Member
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    Quote Originally Posted by Zigner View Post
    So, all-in-all, this is just a rant, right? I mean, you KNOW that Citi's butt is covered, right?
    **A: something does not seen right. It may be a scam to collect application fees with no intention of actually refinancing.
  9. #9
    Zigner is offline Senior Member
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    Quote Originally Posted by HomeGuru View Post
    **A: something does not seen right. It may be a scam to collect application fees with no intention of actually refinancing.
    OP couldn't verify his employment...I see nothing scammy here.
  10. #10
    isaacheung is offline Junior Member
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    Quote Originally Posted by Zigner View Post
    OP couldn't verify his employment...I see nothing scammy here.
    They couldn't verify my employment only on the credit card portion. The credit card was a bait for me to apply. They never called to verify my employment and that's for sure.

    On the refinance portion they asked me to provide tons of documents; bank statements, tax returns, rental lease agreements, business tax, etc. They didn't tell me my app. was declined until I ask. So far no phone call, no letter yet. Only an email.
  11. #11
    isaacheung is offline Junior Member
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    Quote Originally Posted by Zigner View Post
    So, all-in-all, this is just a rant, right? I mean, you KNOW that Citi's butt is covered, right?
    I need to double check that. I sent them the agreement without keeping a copy for myself. I thought the process would be swift as I was promised.
  12. #12
    isaacheung is offline Junior Member
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    Quote Originally Posted by HomeGuru View Post
    **A: something does not seen right. It may be a scam to collect application fees with no intention of actually refinancing.
    Their strange behavior points to that direction.
  13. #13
    isaacheung is offline Junior Member
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    Quote Originally Posted by HomeGuru View Post
    **A: then file a complaint with BBB, ripoff report, state consumer protection office etc.
    I definitely will. Do you think suing in small claim count is a good idea? I sued Bank of America before and won.
  14. #14
    Zigner is offline Senior Member
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    Quote Originally Posted by isaacheung View Post
    I definitely will. Do you think suing in small claim count is a good idea? I sued Bank of America before and won.
    Your employment couldn't be verified...don't you get it? You didn't qualify for the loan. Period.
  15. #15
    isaacheung is offline Junior Member
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    Quote Originally Posted by Zigner View Post
    Your employment couldn't be verified...don't you get it? You didn't qualify for the loan. Period.
    No, you don't get it. The employment has nothing to do with the mortgage. It's a credit card application they promised they would give to me if I applied for the loan. My point is they gave such ridiculous reason to reject that application when they didn't actually call to verify proves that they had no intention to give out anything they had promised.

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