I applied for a loan with Citizens Mortgage and the entire loan process was a debacle. Citizens Mortgage has acknowledged and admitted fault with each and every point I have raised yet in their position remains just be because they made mistakes and failed to negotiate in good faith since the deposit is a non-refundable deposit they do not have to return it.

The following is an account if the events:

1. They notified my insurance company and changing the payee on the insurance, as such the bill was sent to the wrong mortgagee and potentially delaying payment of the home owners insurance. Had I not been in the process of refinancing with another mortgage company, this error could have had significant consequences. Citizens position: "no harm, no foul."

2. They interpreted local ordinances erroneously, despite having it repeatedly explained to them by the local zoning rep. Thus undervaluing the home and causing a delay in the process. I had to take time to research the issue and document where they were misinterpreting the ordinance, thus restating what the local zoning rep had told them on the phone. By the time this was resolved the original appraisal was destroyed and a second appraisal had to be completed. Citizen claims the error was made "in good faith."

3. This delay caused the lock to expire. I was informed by my rep that he had extended the lock (without my consent or knowledge). I was informed by the rep that rates "were in our favor since they had gone down." When I inquired why he did not lock at a lower rate he said that "the lock protects me from rates going up but I would receive the lower rate at closing." A statement I knew to be false, but a contractual commitment to me made by an agent of Citizen Mortgage. Citizen's has not refuted this.

4. After the second appraisal was completed, Citizens walked away from the table. It took more than two weeks of phone calls and emails to my mortgage rep and a letter to the President of RBS Citizens before I received a call from the rep. He contacted me on the day the second lock expired and I asked what the options were because the appraisal came in lower than we anticipated. We discussed the various options of restructuring the loan and then I asked to speak to his manager. My rep said he would have him contact me. Citizens acknowledges that this request was made and admits the manager never tried to contact me. At that time I was under the impression there was an interest in restructuring the loan and moving it forward even though the rep told me that his management had no interests in continuing the loan process because they were "not going to make money on the loan."

6. The following week I received a formal notification that "I did not qualify" for the loan because of LTV. In effect providing an excuse for Citizens Mortgage to walk away from the loan and keep my deposit.

I've tried working with the Executive Services Group at RBS Citizens and the BBB to have my deposit refunded. Citizens position remains that since the deposit was non-refundable it is irrelevant as to how many mistakes they or what the cost impact was to me to work to correct them, they do not have to refund my deposit. They do not believe they have any accountability or responsibility to provide compensation for they errors, delays or lies.

The BBB closed the case stating in their opinion "Citizen has made a good faith effort to resolve this matter. Case closed."