On 9/15/09 I signed a rate lock agreement with American Federal Mortgage (copy available) that was to expire on 10/20/09. According to the Lock-in agreement: In the event the loan does not close before the expiration date of the lock-in agreement through no substantial fault of the borrower you may withdraw the application or reject or cancel any commitment. If you choose this option, we shall promptly refund to you any lock-in fee and any commitment fee paid by you. Closing on or before this date was not possible due to a leaking buried oil tank. While remediation is currently being conducted, we do not currently know when it will be completed and it will be months before we receive a no further action certification from the state.
On 11/02/09, American Federal offered to extend the rate lock for a fee of $2085 (email available). On 11/05/09 I said I did not want to extend the loan agreement and requested a refund of the $750 lock fee (email available). While they originally said they would refund the fee (email on 11/06/09 enclosed), subsequent phone calls on 11/09/09 with Ryan H (the loan officer) and Robert B (the president) made it clear they had no intentions of refunding my fee.If you could help me to obtain the refund for the $750 lock fee they charged my credit card, that would be greatly appreciated.
