Warning to anyone in the process of looking for a mortgage lender:

DO NOT use Hamilton National Mortgage Co. www.hamiltonnational.com. 

This company is currently being investigated by the Banking Commission,
Federal Reserve, and Federal Trade Commission for illegal practices. 

Based on hundreds of filed complaints thus far, most of the complaints are due to Hamilton's backing out on low lock-in rates by pretending to claim that the loan was either rejected due to property damages or property in poor condition.  The company refuses to release the appraisal report and also refuses to accept anoher appraisal report, even if the borrower offers to pay for another appraisal. 

Another common complaints filed is that Hamilton intentionally submits last minute requests (2-3 days prior to closing date)to the borrower, knowing that borrower cannot possibly meet the obligation within the closing deadline.  If asked for an extension, Hamilton will then nullify the loan and creates another one for a much higher rate.  The borrower has no recourse but to accept the higher lock-in rate because if the borrower cancels, he/she will lose all deposits, including the lock-in deposits. 

The third common practice that Hamilton illegally plays is portraying that everything is fine and when closing date comes, Hamilton will add an additioanl $3,000 - $5000 to the closing costs ON THE DAY OF CLOSING.  The Borrower has no option and have to either pay the extra money or rescind (exercise 3 days right of reciscion) but end up losing the low rates and forfeit all deposits.

Therefore, many lenders are playing this game to get out of low locked in rates.  Hamilton National Mortgage Co. is one of them. 

Please forward to anyone that you know who is in the process of searching for mortgage lenders and warn them to avoid Hamilton National Mortgage Co!!!