Problem with Lender, whats my play

[Pinlifter]

I get my property tax assesment and its a huge increase in the value of my home, so I decide to refinance and pull some cash out. Anyways after shopping around on the internet I decide on a lender. The lender is in New Jersey and I am in WA state. The lender has a refundable rate lock fee which I pay with a credit card. When the loan closes the fee is supposed to be credited back to the card or applied toward settlement charges. The terms of the rate lock agreement state that if the loan does not close within the lock period through no substantial fault of the borrower, I can terminate my commitment and recieve a refund.

Anyways long story short, Loan officer and loan processor both go on vaction, processing managers can't find the appraisal, and the loan does not close before the rate lock expiration. Loan officer returns from vacation day after the lock expires, tells me the appraisal came in a little low, we discuss new options and come to an agreement.

Loan officers emails me new disclosures which are different from my original ones. Not only are the terms different(which was expected) but the language is now more favorable to the lender. I call the loan officer and tell him I'm not going to sign theses new disclosures(one is a new lock in agreement with the old expired expiration date) the other is an agreement saying the rate lock fee is now non-refundable but will be applied to my settlement charges. Another is a completely new document that asks me to sign way my rights to contest the credit card charges. I'm firm with the loan officer that I'm not going to sign these and He accuses me of playing games. He tells me that if I withdraw my application I will have forfieted my rate lock fee.

I still want a refi but my position is that if I sign these new disclosures the lender can turn around and immeadiately raise the rate and I will have no recourse. The rate I locked in is the maximum I am willing to pay and if it goes up I do not want the refi.

I'm now dealing with the Director of operations and have asked him for a refund of the lock-fee. Right now they are balking/stalling. Should I go ahead and contest the charge with my credit card company? I have threatned to file a complaint with NJ Dept of Banking - was that a mistake?


Pinlifter