Mortgage company screwed us over do I have rights?

[Mary M]

My husband and I locked in a rate of 4.25% on a 30 year loan with a mortgage company. We paid the $495 fee and the senior loan guy told us this was an easy loan to do because of my husbands excellent credit score, his debt to income ratio and all the other factors. Our house appraised for the amount it was supposed to also. So another few weeks went by and he said it usually takes 30-60 days to close. The holidays came and went and we didn't hear from them...so I called, left messages, e-mailed and then he finally gave us a call back saying the loan didn't close because the lock expired. He said he tried to get us another extention but he couldn't! We said what??? We said how could this happen? The only thing he could say was it was the "big banks fault ...the chases and the wells fargos". He said the rates went up to 4.8% and that we can either get a refund or they can hold our app until the rates go back down. We said a refund. We were supposed to save $400 a month with this new interest rate! That's a ton of money for 30 years! I am so angry and furious. So get this...we then get this e-mail with a form we have to sign to get our money back. In the form it states we can't bad mouth them or complain after we get our money. Are you kidding me??? My husband called the president of the company and the guy said he has to sign it. We now received a new form to sign titled settlement form...to sign in order to be refunded our money. We still haven't signed it and feel like we were totally screwed over by these people. I can't understand what went wrong and how on earth couldn't this guy close such an easy loan? The only thing I'm starting to wonder is if he received a kickback from our original mortgage company so our loan wouldn't be taken from them so they can keep making money from us paying our mortgage. Is that possible? I can't understand what else could do this. What are my rights I'm so mad! We had asked them to pay us the money we would have saved over the life of the loan but they didn't agree. What jerks!! No wonder they have no complaints because of this crap they're pulling. I even found them on Bankrate.com