| 07/25/2019 |
Yes |
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- Trouble during payment process
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Web |
Servicemember |
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My wife and I are selling a house to the potential buyers who failed to close on our house on XX/XX/2019 for, at the time, unknown reasons. I didn't find out until over a week later that they were unable to obtain the loan because of something that popped up on their credit report when Mortgage Investors Group ( MIG ) ran their credit the second time before closing. MIG knew the loan was not approved and failed to advise my realtor or me until multiple days after the contract ended and closing did not occur. MIG had told my closing office there were glitches in the system and they were having technical difficulties as to why the buyers weren't able to close. It wasn't until over a week after closing that we found out the buyers weren't able to close because their loan got denied due to a credit report issue for a judgment of {$160.00} from a certain company. I had many questions and was confused as to what was going on so days later on XX/XX/2019, the MIG Branch Manager, XXXX XXXX called me and told me that he said he didn't see any reason why this loan would not get approved once the judgment was taken off the buyers credit report. All he needed to see was the letter from the judgment company that said they had settled the amount and everything was good to go. Once Mr. XXXX received that letter, the loan, in his eyes, would get approved and the buyers could close on my house. Days go by again and back and forth with Mr. XXXX trying to figure out how long this would take. Mr. XXXX said he was putting his reputation out on the line for the buyers and that once the letter was received, he was sure that would be all he needed for loan approval. XX/XX/2019 is when we found out the buyers got denied the loan, 22 days after we were set to close. My wife and I got strung along for over 3 weeks with our house not sold or put back on the market because we put our faith in Mr. XXXX XXXX word that our house would close once the judgment on the buyers report was settled. XXXX XXXX reached out to me ; I never requested to talk to him. So by him calling me personally, that is a testament of his faith in the buyers to get their loan approved to buy our house. We put our house on the market XX/XX/2019 and had multiple offers right away. Because this lasted so long, our house is again still on the market showing over 2 months active when 90 percent of that time was under contract with the aforementioned buyers. We missed out on the hottest time on the market to sell our house because they got denied a loan due to the buyers negligence. We could have gone back on the market XX/XX/2019 when the contract ended or even earlier, but we were recommended to give it time and that the loan will eventually go through. The buyers rushed us out of our house over 1 month early, caused my wife and XXXX XXXXn to move to XXXX without me over 1 month prior to me being completed with my job, my wife had to quit her job one month early, I had living expenses for over a month in XXXX with out my family because they wanted us out of the house early. My wife and I closed on XX/XX/2019, gave up the keys, and turned the utilities off. We then had to turn the utilities back on, retrieve the keys, and now we have to pay 2 mortgages. We have invested more time and money in this deal than we should have and then to have a Manager of the mortgage company call me to express his surety in these buyers and then to have it all fall through. It's heartbreaking and downright wrong.
I feel as though a number of professional standards were violated by the Mortgage Investor Group and Branch Manager, XXXX XXXX, regarding the handling and communication pertaining to the buyer 's financing relative to the purchase of our home. These violations directly and adversely impacted my family. I would like to file a formal complaint against both and understand any available recourse that may be available to me. I can be reached at XXXX to answer any questions you might have. Thank you in advance for your assistance.
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| 04/02/2023 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I applied for a mortgage with MIG on XX/XX/2022. All throughout the process, I was taxed with additional requirements not required by the other lender I was working with for the same loan type ; FHA. I am a licensed real estate professional who once was a licensed loan originator ; therefore, I am very familiar with the process and their requirements. I submitted all documents to include an appraisal with a promise to close within 10 days.
They questioned my income. As a W-2 employee who is the majority shareholder of my company, I supplied them both tax returns. The income from the business was deducted from my monthly salary lowering my income. I questioned that and received no real answer. I was told to pay off a revolving credit that was only a XXXX XXXX monthly payment with the same balance as the $ XXXX {$280.00} payment. And when I chose the larger debt monthly payment, there were more requirements to prove I paid off the loan beyond providing the payoff, the receipt from the my HELOC evidencing where the funds came from. I continued to ask about my DTI and no one would provide the numbers to let me know what it was. I was never told when I would close nor the amount of money needed to close. I have numerous emails. Each time I called the LO she would either not answer, send me to her processor, or an assistant. I reached out to the owner of the company via email about my concerns of discrimination, and she never responded. I called HUD for assistance with the rules and presented to MIG. They simply disregard, and sent a copy of an older ruling. I was threatened by the processor with not closing my loan at all on the day it was rescheduled to close XX/XX/XXXX, if I did send my check stubs for 30 days I would not close. The file was sent to THDA on the scheduled day of closing after been told by THDA that the file could be submitted while in U/W with lender since they are only looking to ensure the file is in compliance with their rules as long as there was a preapproval. I was never told after multiple request when will I close, no one ever told me. The title company, XXXX XXXX who closes on a regular basis with MIG was told they needed to be approved and it would take several days to do so, which ultimately would have caused me to lose the house through an expired contract. When I questioned the sender of the email she just replied she wasn't the right person to reply. Again, another tactic to delay the loan. They even called the loan a difficult one since I owned a home in the same zip code, and was purchasing another one as my primary when I provided a lease agreement for the other home. They refused to use the lease income to offset the property and insurance cost for which FHA has rules for. And I didn't close until the end of the day XX/XX/2022 with the documents being dated for XX/XX/2022. With the title company even questioning what was going on with the file since they know me from transacting other closings
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| 04/04/2018 |
Yes |
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Web |
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On XX/XX/XXXX, I signed the papers for my newly constructed home. One year later the home began showing structural damage. The floors sank, there were cracks in the ceilings and in the walls, the ceiling sagged, a load bearing wall was protruding and many other things that should have never happened with a newly constructed home. The warranty I received on the home would not cover the structural issues. The builder would not cover his workmanship warranty.
After research, in XX/XX/XXXX, I found that the builder was an unlicensed contractor. In the state of TN, it is illegal to build and sell homes when you are unlicensed. I have contacted the City of XXXX and the State of TN to report the unlicensed activity. The builder got out of the legal implications by saying he built the home for his family and decided not to move into it.
This is my final recourse for my home, which I foreclosed on because I could not afford a lawyer or to finance the costs of the repairs.
I would like to report that in my closing documents, there was no disclosure given to me that this home was built by an unlicensed contractor. This, in all meanings of Material Defect Disclosures, is a material defect.
This information should have legally been disclosed to me as the purchaser. So that I would have been able to make a decision to purchase a home that costs me {$120000.00}.
Due to this negligence of non-disclosure of a very important Material Defect, I have foreclosed on the property and will have to live with this on my credit report. This was an unfair and deceptive act on the part of the builder and he should be held liable for this property and breach of contract.
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| 09/22/2017 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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My daughter applied for a loan with Mortgage Investors Group / XXXX XXXX in XXXX. She was given a preapproval letter and exactly what her notes would be. She therefore made an offer on a home. After paying for the home inspection and the termite inspection as well as having the owner of the home make multiple repairs. XXXX XXXX says well she really did n't check everything out as she should before she gave my daughter the letter. So, now she needs a cosigner. I agree to co-sign. FHA requires a XXXX minimum fico score which I am above but XXXX says she still ca n't do it. This is very unprofessional.
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| 07/30/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
Older American |
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Mortgage Investors Group sent me a letter stating they sold my mortgage to XXXX XXXX in XXXX, Texas, but XXXX XXXX has no information about me and told me they do not know anything about Mortgage Investors Group and have never received any mortgage from them. I called Mortgage Investors Group but all they said was they no longer had my mortgage so they could not help me. A representative from XXXX XXXX called Mortgage Investors Group but could not get any information about my mortgage. I need someone to find out where my mortgage is so I can make a payment.
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| 10/13/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
- Confusing or misleading advertising or marketing
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Web |
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apparently, they got my information from XXXX XXXX when I was trying to find interest rates for Tennessee and they keep badgering me despite my asking them not to.
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| 02/23/2023 |
Yes |
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- Trouble during payment process
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Web |
Older American |
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| 07/03/2021 |
Yes |
- Mortgage
- Other type of mortgage
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- Improper use of your report
- Credit inquiries on your report that you don't recognize
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Web |
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| 02/26/2021 |
Yes |
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Web |
Servicemember |
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| 01/08/2020 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with fraud alerts or security freezes
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Web |
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| 08/13/2018 |
No |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Information belongs to someone else
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Web |
Servicemember |
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| 05/01/2017 |
Yes |
- Debt collection
- Medical debt
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- Attempts to collect debt not owed
- Debt was paid
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Web |
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