Bait & Switch by a mortgage broker?

[lakeagent]

I got a GFE from a mortgage broker, he had run my credit and said I can get this loan he illustrated in the GFE. Now after I have paid for an appraisal he is telling me that the lender ran my credit and my score has gone down. I subsribe to my fico and per my fico there is not another inquiry besides the one he ran. He now wants to give me a way higher interest rate, I told him I want proof that the other lender rejected me and he says he can't provide such, and i want a copy of my credit report showing that my score had gone down. They do not want to provide me this info. either. I feel that I have a right to this information. I have now filed a complaint with the BBB and am planning on contacting the DRE. I am disgusted with this situation and mad as hell!!!!

[Sage]

Yeah, it does sound like they thought they would take you in but you outwitted them and they got caught. If the appraisal fee was less than $5000 then take them to small claims court. I think you'll win.
Go going on reporting them to the BBB, I wish more people would do that.
Good luck.

[loranray]

Very common practice and very shady, remember that mortgage brokers make more commission if they sell loans at higher interest rates or with points. The lender tells them at what rate they will finance the loan then a shady broker will add to it. Go to a bank or a reputable broker.