| 10/10/2023 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
- Application denials
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Web |
Servicemember |
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My husband and I applied for a mortgage with XXXX XXXX on XX/XX/XXXX of 2023. We paid the builder our deposit of {$99.00} and later paid the holding amount of XXXX. Our experience with XXXX was tough because the person our point of contact was never available for us to talk to. We decided to go with their loan officers Inspire home loans due to the incentives they were offering to us. Prior we were working with fairway lender. We had already had an approval from them but as I stated decided to go with inspire due to the no closing cost incentives. We started working with a woman since you say don't use names I won't but in the event you need that I have all that information. We got approved by XXXX with inspire loans on XX/XX/2023 with the loan amount of XXXX rate this was conditional and not locked. We got all of our documents submitted the home was not set to be done until the end of XXXX. All of our documentation was in and as far as we knew all was well. We then got an email from XXXX on XX/XX/XXXX that she was going on maternity leave and that she would be sending our things to her manager. She advised to reach out to him should we need anything. I of course did reach out to him just to follow up. He advised me all was well no concerns. We never hear from anybody at inspire again. Our next correspondence was from the closing people from XXXX with all of our closing information. Initially we were set to close on the XXXX of XXXX but they then changed it to the XXXX. That came from XXXX on XX/XX/XXXX. My husband and I waited until after we received our closing information to put our notice in with our rental. This was our first rental we rented for a little over a year after selling our home of XXXX. On XX/XX/XXXX we heard from a lady at inspire " XXXX '' who told my husband there was somethings he needed to pay off. All the things they told him to pay off he did and provided proof. That was one credit card and a savings account. Over the summer I added my husband to one of my credit cards and had a family emergency where I spent XXXX on that card. I was told I had to pay that off in which I did and provided proof. My husband also has a liberty mutual account for XXXX dollars that XXXX told us we had to pay in full. We did that as well. Reason being was my husband score had came down XXXX point and they needed it back at the XXXX mark. Initially when he got approved it was at XXXX. Naturally we weren't able to close on the XXXX and when we heard from XXXX 1 week before closing I tried to go back to our landlord and see if we could stay in which they told us no because we had already done our notice and it was only 1 week before we had to move out. So, we became homeless with our XXXX children. Not only didn't we lose out on a lot of our reserve money by paying these things XXXX told us to pay but they then told us we didn't have enough in our reserves account. So they go the score up on the day we were supposed to close on XX/XX/XXXX that Thursday, it was sent to underwriting where we were then denied on that Monday XX/XX/XXXX. They sent us to another one of the lenders they work with and then started telling our realtor all these lies about us running up credit card debit and doing all these things that we didn't do. No one would answer own calls it was like they just tried to cover themselves because XXXX, who went out on maternity leave let our file sit there and no one went through it. Now, when we were dealing XXXX the credit person she told my I couldn't take my husband off my credit cards because it would drop his score. But that was the first thing the new lender told me to do. We never had to pay XXXX to these cards if I would have just taken him off as an authorized user. Also she told us all his score dropped to the XXXX when that was also a lie because the new lender a day later sent his scores and the lowest was XXXX. The others were above XXXX. No one cared about all the money and misinformation we were given or the fact that we are now homeless with XXXX children. We are ready now to walk away and find somewhere for us to go but what they did to us is not ok. We started to complain and talk to the builder and things to try to get to the bottom of everything and now everybody wanted to change their story and say they never looked at our file. If anything was wrong we should have known well before our closing date. If they didn't want to work with us we should have known well before we were left homeless. We went almost 3 months without hearing a word that anything was wrong with our file or anything and then 1 week before closing all these issues. I have every document every email and every text. I have all the information I need to prove what I am saying to be true. They lied about his credit score and they lied about us paying off these accounts. XXXX told us to pay off an account and the new lender told us we should have never done that and that was going to affect us. We should have paid it down to XXXX dollars but I told him that wasn't what we were told. We were out thousands of dollars and a home for no reason. We still haven't heard back but it's to late now I'm ready to move on with our children. This company should be shame. I have so much more to say but this site keeps telling me my time is running out. I meant to mention all the money we did have to pay out plus the 2 months rent we had to pay just to break our lease. We had to pay XXXX just to move out of our place. Only to then pay for storage house. XXXX truck and now pay deposits and other things for another home for our family. The amount of money we have had to spend has really put our family in a bad way.
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| 12/02/2020 |
No |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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On XX/XX/XXXX, I was added to the purchase agreement for mortgage for property at XXXX XXXX XXXX XXXX XXXX CO XXXX with XXXX XXXX XXXX XXXX
XXXX XXXX had originally entered the agreement with Inspire Home Loans to purchase the listed property for {$670000.00} on XX/XX/XXXX. It was originally a cash deal, pending the closure of a business transaction Mr. XXXX was to complete on XX/XX/XXXX. I provided Mr. XXXX with a gift of {$20000.00} ( from my accounts at XXXX XXXX and XXXX XXXX XXXX from funds I had on deposit from savings on XX/XX/XXXX and XX/XX/XXXX ) to use as the earnest funds for the home to secure the contract. Mr. XXXX had a delay in the settlement of the business transaction to XX/XX/XXXX. The home builder ( Inspire Home Loans ), asked that he apply for a mortgage loan to ensure the closure of the purchase agreement at the end of XX/XX/XXXX. Mr. XXXX was unable to apply for the loan, so I was added to the purchase agreement and applied for the loan.
On XX/XX/XXXX I began the mortgage application process with the builder 's mortgage company, Inspire Home Loans Inc. dba Inspire Home Mortgage ( NMLS # XXXX ).
On XX/XX/XXXX, I receive an email from XXXX XXXX ( NMLS # XXXX ), a loan originator with the company, with a pre-qualification approval for an FHA loan for {$580000.00}, the maximum amount for the county the property is located in. I advised Mr. XXXX, that the remaining funds to cover the purchase price were to be gifted to me by my brother. I also advised Mr. XXXX, that there were a few items on my credit report that were incorrect and that I wanted to resolve them and then have them pull my credit report again so that I would qualify for a lower interest rate. Mr. XXXX advised once I sent him the updated information, he would send it to his underwriting team for the loan to be completed.
On XX/XX/XXXX, I provided Mr. XXXX with all of the additional information that was needed to complete the loan, including proof of the credit report items that had been resolved. Later in the day, I received a call from my realtor who informed me that Mr. XXXX had advised the builder that I had never submitted the necessary documents. I advised my realtor that I had submitted the documents and had email confirmation from Mr. XXXX that he was in receipt of them.
On XX/XX/XXXX, around XXXX, I received an email from XXXX XXXX with a request that I sign a form agreeing to cancel the contract. I did not sign the form and have not yet signed it.
On XX/XX/XXXX, I received an email response from XXXX XXXX that he had a couple of questions that he needed clarification on before he sent my file to the underwriters. Mr. XXXX and I had a phone call, during which he said the income from my second job ( which is W-2 income, the same as my first job ) might not count and the underwriter might choose to exclude it. He did not provide a reason as to why the underwriter would exclude legal/legitimate income. It did not sound like a legitimate reason to me. My total income from all sources is app. {$10000.00} per month.
After my phone call with Mr. XXXX, I sent him a follow up email ( app. an hour later ) confirming the details of our call and asking the next steps. Mr. XXXX stopped responding to my emails and never provided any status to the loan.
The builder, put the property back on the market on XX/XX/XXXX, this time with a higher price of {$680000.00}. The builder accepted a new contract for {$680000.00} on XX/XX/XXXX.
I believe Mr. XXXX was derelict in his duties in reviewing and processing the loan request and was blatantly dishonest in his representation of the loan process as he confirmed an approval to me, while telling the builder that I had not completed the process. I do believe that the builder worked with Mr. XXXX to sabotage the loan I had been approved for because they wanted to put the house back on the market for a higher price.
The city that this property is located in, is predominately white, and I am Black/African-American. When I was asked to complete the loan process, I asked my realtor to have the company provide the LAR for the company because I wanted to see what their lending history and practices are and the demographic information for their loans and rate of approval, etc. The company advised my realtor that they didn't know what the LAR was and had no records of such information.
I've filed a complaint with the State of Colorado as well, and at this point, I want my money back as neither XXXX XXXX nor the builder acted with integrity and neither appeared to want to close the loan with me, and just take my money, even though I had been provided with an approval for the loan.
At the same time that I applied for the loan with Inspire Home Loans, I also applied for an FHA loan with XXXX XXXX, and was approved, so I am very well aware that I was able to be approved for the loan for this house.
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| 09/22/2022 |
Yes |
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Web |
Servicemember |
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On XX/XX/XXXX my Husband and I decided to look at new construction homes in XXXX Washington. We had just gotten married a few weeks prior to viewing the home and were just looking at what was available to us. Upon getting to XXXX XXXX we found a XXXX XXXX XXXX XXXX home that we felt would fit our future needs. It was on sale for {$510000.00} for their purple tag sale that month. We were told to just try applying and see what happens but to use their suggested mortgage lender Inspire Home Loans. As newlyweds and first-time home buyers, we were excited to possibly buy this new home. My husband is active military so we opted to use our VA loan. After filling out this application we informed our newly assigned loan officer XXXX XXXX that we have not yet received the XXXX that is given to us once we inform the XXXX of our legal marriage. XXXX told us this is not a problem we should still apply and try to move forward. He also was confused about which of us was active military and we clearly stated it was my husband multiple times. Throughout this process, XXXX has failed to remain clear on anything and we had to correct him multiple times on different things. A new issue arose when I told him I had just started my first job out of college and did not have 12 months of work history. XXXX still pressed us to move forward claiming everything will be fine and he can use my school time as work history. So this is what we did and a few weeks later we were told how much our loan would be, and how much we needed at closing. We then opted to tie our closing costs into our loan which does change the amount on the loan. XXXX still informed us we could qualify and everything would be okay. We asked when we should hand over our {$7500.00} earnest money to XXXX XXXX and XXXX said we were good to go and we can give our earnest money whenever. On the other end, XXXXXXXX XXXX told us that we had to give our earnest money by XX/XX/XXXX and that they had raised the price of our home within 24 hours of last speaking with their company about the price of our home. Even with this new knowledge, we moved forward and suddenly he needed proof of XXXX. We told him at the very beginning we have no control over when it will start, we went to the proper appointments through the XXXX and filed our marriage through them so we should be receiving it within a few months. As of today 's date XX/XX/XXXX, we still are waiting for the XXXX to start. A month or so went by after we signed and agreed to the new loan amount with closing costs included and issues arose in my place of work and I had to leave. At this point, I thought the loan would be over, and we'd be issued a denial and that would be that. But this was not the case, XXXX emailed me and said if I could find a new job before the end of XXXX we would be in the clear and still be able to close on the house. So it being the first week of XXXX and still wanting this home, I applied to anything and anywhere that would pay me. Of course, trying to rush something like this never works and I didn't hear back from anyone until I applied at XXXX. I did their initial screening and got approved and an offer letter. But the offer letter they send to people has a contingency in it that says I have to pass a background check and a drug screen. I did this, but their offer letter is mass sent out so it's automatically in it. XXXX says this works, but he needs an XXXX number which I didn't have. At this point, my husband and I were so confused and tired of stressing over all of this that we made the choice to back away from the loan. We made a phone call to XXXX and called XXXXXXXX XXXX and everyone knew. Or so we thought. A few days later on XX/XX/XXXX, I received an email claiming they were forced to move forward with the loan because my husband and I failed to let them know what we wanted. So they denied us based on my work history and current employment status. This obviously is not true as we had backed away on XX/XX/XXXX. We were then told we could not receive our earnest money back which we had expected however now we are upset because they are not issuing the correct information and denying us something that we feel they would have done regardless of my job situation. We feel they led us astray and to believe that we could qualify for a large home loan that we never could truly afford. At this point, we would like to see if we can get our earnest money back and walk away. Do you have any information about if it's possible to get our earnest money back? Please help us navigate this situation.
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| 07/10/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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In contract to purchase a new construction home with a builder and lender that are affiliated in the amount of {$220000.00} XX/XX/XXXX. They offered {$5500.00} in closing costs if I used this lender. Second week of XXXX, I Requested that the Rep hold on pulling my credit because I knew a higher credit score was going to be reflected on the new report. Credit report was a day or two from expiration. Rep kept telling me that I should get a FHA loan which I did not want because the PMI never falls off. I asked the Rep why I was not qualified for a 5 % conventional loan. I repeatedly asked for the rep to provide the 5 % conventional scenario. His explanation was that I did not make enough money minus my overtime. I gross over {$10000.00} a month with consistent overtime and without the overtime it's {$6500.00} I believe I was being pushed into an inferior loan product and the underwriter denied my loan abruptly without receiving updated pay stubs, updated employment verification and an updated credit report. I also believe the rep did not listen to me or provide accurate information to get the loan approved. I stated to the rep that the current home that I live in, that I plan to get off the deed when I purchase the new home. I don't believe this was ever communicated. Due to the lack of communication with the sales rep and the denial from the underwriter I felt a distrust moving forward with this lender. I switched lenders and got approved within a few days for a 5 % conventional loan-this was the same type of loan product I kept asking the rep to provide the scenario for me and he never did. I believe that my denial letter was unjust and my need to switch to a competent and fair lender was warranted. I did research on mortgage denials and who gets them. Unfortunately me being an XXXX XXXX woman puts me in the category of being denied a home mortgage statistically. I requested that the Builder honor the closing cost credits with the new lender. The sales rep stated she took it up to higher management on both the builder 's end and lender 's end and that there is no budging on allowing closing costs from an outside lender. I believe I am being penalized when it was the builder 's lender that was ineffective, incompetent, unjust and biased. My new lender stated that she did not know why they did not approve my loan. I have excellent credit, on my job 2 years etc. I would just like to be made whole and receive the closing costs that I would have gotten if the Builder 's lender wasn't incompetent/unjust.
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| 06/23/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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In or about XX/XX/XXXX a request was made by me to remove escrow payments from the monthly mortgage with lender Inspire Home Loans serviced by XXXX See attachment email confirming inquiry ticket XXXX.
In a letter dated in or about XX/XX/XXXX I was notified that the escrow removal was denied due to the loan to value ratio on the property not meeting an 80 % value. See attachment.
This is incorrect and does not apply to the guidelines set by government backed enterprises such as XXXX XXXX See the following from their website : In general, to qualify for an escrow waiver on a conventional loan, youll need : XXXX below 80 % ( meaning you have more than 20 % equity in your home ) No recent delinquencies No loan modifications No previous defaults on an escrow waiver The home was recently appraised a value of {$500000.00} during a Brokers appraisal that took place on XX/XX/XXXX by lenders own agent. See attachment.
The current owed loan amount is {$350000.00} see attached, and the value of the property was assessed at {$500000.00}.
This would mean the loan to value ratio is well below the 80 % threshold as XXXX is 69 %.
Multiple multiple attempts have been made to resolve this issue with the mortgage lender and loan servicer.
Also, during a previous complaint see, XXXX, it was stated by XXXX supervisor XXXX in a phone conversation On XX/XX/XXXX that monthly PMI payments made between XXXX and XXXX totaling {$280.00} would be refunded once the new value of the home was established. In an attempt to retrieve this reimbursement I was denied citing a decision was made to not honor the reimbursement.
Please get these issues resolved and grant the escrow waiver as requested.
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| 05/03/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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XXXX servicer granted us a forbearance because of our toddlers large medical needs and recent XXXX which also happened to be during covid 19 ( my husband was out of work as well ) and said they would put the amount to the back of the loan. Over the past week, they have been trying to demand the forbearance in full because they say the loan carrier inspire home loans said its either we pay full or nothing. I have supporting documentation that states we can resume our regular payment on XX/XX/2023. They accepted a payment in XXXX {$1400.00}. Over the month, we have been trying to set up a REPAYMENT plan now that our forbearance has ended. Since they will not place it on the back of the loan like they initially told us they would. We can pay our standard {$1500.00} a month plus an extra {$1000.00} a month for a total of {$2500.00} for 12 months. And have seen no results.. inspire home loans said they need to speak to their legal team about repayment plans, ( they are trying to say {$4000.00} if they get the ok from their legal team a month even thought we only owe XXXX in forbearance and it should be able to repay over a 12 month span ) and they cant risk putting the forbearance to the back of the loan even though our house is worth double the amount owed. Inspire home loans even had the nerve to transfer us to the foreclosure department, where they told us we werent in foreclosure.. & then a servicing manager asked for the forbearance documentation that I have because she couldnt access it herself because she said loan care was hanging up on her.. its been an absolute nightmare.
I even offered to pay them {$4000.00} on XX/XX/XXXX. They would not take it.
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| 08/23/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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During my mortgage process, my lender ( Inspire Home Loans ) representative promised that the builder 's incentive is going to be {$10000.00} if I use builder 's affiliated lender ( Inspire Home Loans ). When I was in the process of shopping for the mortgage, Lenders representative ( XXXX XXXX ) sent me a side-by-side comparison which included {$10000.00} in builder 's credit. ( Supporting documents are attached ). I reconfirmed with XXXX that the contract that I signed showed {$5000.00} in builder 's credit but she reaffirmed that the builder 's credit has been increased to {$10000.00} to keep the buyers inhouse. I received my final closing disclosures on XX/XX/XXXX which included {$9200.00} in builder incentives and {$1000.00} in lender 's credits. However, lender changed those disclosures at the closing, and I was not informed about that. Lender reduced the builder 's credit to {$5000.00} and manipulated it by applying my real estate agent 's commission as a credit. We had multiples emails exchanged between lender, builder, title agency and realtor and it was confirmed by lender that we can not use realtor 's contribution as builder is contributing up to $ XXXX in incentives.
Lender keeps denying this fraudulent activity and didn't initially replied to any of my emails and refused to issue the remaining credit of $ XXXX.
I have attached a copy of disclosures that we signed before closing on XXXX 2022 as our final closing disclosures. Page 2 shows {$6800.00} & page 3 shows {$2300.00} for a total credit of {$9200.00} from the seller.
These disclosures also show full commission of {$9800.00} on page 2.
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| 04/22/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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On XX/XX/22 an official request was made with my lender Inspire Home Loans servicer XXXX XXXX to begin the BPO process to remove the mortgage insurance and escrow payments from my mortgage.
A Brokers Price Opinion ( BPO ) would be required to assess the current value of the home.
On XX/XX/22 an automated email was sent to me saying the request was being forwarded to the loan specialist department.
No contact was made by the lending company over the next few weeks.
On XX/XX/22 I reached out via phone to the lending company again and asked for an update on my request. At that time the lending company charged and withdrew a {$150.00} BPO fee from me and stated an appraiser would be on calendar to visit my home and give the new appraised price.
A few weeks went by and there was still no contact by a BPO appraiser or the lending company.
On XX/XX/22 I reached out to the lending company via phone requesting an update. At this time the phone agent XXXX informed me my {$150.00} payment was mistakingly applied to my principal balance and that the process to re-appropriate the funds and schedule a BPO appraiser to visit my property would not take place until XX/XX/22.
At this point it will be close to two months from the original request to the time someone finally comes out to my property for the BPO appraisal.
Consumer protections state this process should be timely and communication should take place throughout the process. The experience with Inspire Home Loans and XXXX XXXX have been neither.
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| 03/24/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I applied for PMI ( private mortgage insurance ) removal through my loan servicer Midwestern loan at the beginning of XX/XX/2022. On the XXXX of XXXX I was informed that my loan was being transferred to Inspire Home Loans Inc . I contacted Midwestern Home loans to expedite my PMI removal request and got it granted on XX/XX/XXXX by Midwestern loans. My loan was transferred and Inspire now tells me that I still must pay PMI until they approve that it has been removed. I have a email from Midwestern saying that the PMI should be removed from XXXX XXXX. I have a email from Inspire that they approve PMI to be removed as well.
Currently, my payment still reflects that I must pay PMI. Inspire is doing a " investigation by the PMI team '' and is telling me that I must pay my mortgage with PMI until the PMI team is finished it's study on XX/XX/XXXX. If I do not pay my mortgage with PMI by the XXXX, I have been threatened ( over the phone ) to have this reflected on my credit. I have no promise I will get my PMI for XXXX or XXXX back, I am just stuck paying an extra {$220.00} for two months as they drag this out even though I have already been approved twice.
Here I am, like a sucker paying PMI to avoid them coming after my credit score. Avoid Inspire, they will threaten you when tell them they are charging the wrong amount.
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| 12/14/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I entered an offer to purchase contract with a {$4000.00} due diligence fee. Confident that I would buy the home based on pre-approval through the mortgage broker I was working with. Well 4wks. into the process after I paid inspection fees for septic and the home, appraisal fee ( for an Appraisal that was never done ). I find out I can't secure a loan b/c I have not been employed at my current job for 6mo. I told the mortgage broker from the beginning I was unemployed during the Pandemic for 9 mo. and I was recently bought on at my current company in XXXX of this year. She said that wouldn't be a problem b/c of my long term employment history before the Pandemic. Well now I have found out through other Lenders that with FHA there's a minimum of 6mo. The mortgage broker should have known this before I invested over $ XXXX into this deal. I feel she was negligent in her basic duties as a mortgage broker.
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| 04/25/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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My mortgage loan transferred from Inspire Home Loans to XXXXXXXX XXXX in XXXX, XXXX However, not all of the funds in my Escrow made it to the second servicer during this transfer process.
The second servicer, XXXX, claims that the first servicer, Inspire, paid my property taxes before the transfer. But, the first servicer expressly denies doing so. Even their year-end XXXX statement says property tax payments were {$0.00}. So, I'm in a catch XXXX here. Inspire claims they sent $ XXXX to XXXX. And XXXX claims they received only $ XXXX.
Lost {$6000.00} in Escrow with neither parties willing to help me.
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| 12/01/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
- Trying to communicate with the company to fix an issue while managing or servicing your loan
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Web |
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For three weeks I have not been able to get ahold of the company and I saw online that the parent company had a cyberhack.I can't even open the app or the website, and yet today my payment still went through. I am extremely angry because I don't know where that money is going, I have no trust in the company and have seen hundreds of people now make the same complaints. This is negligence to the highest degree. I had questions and a dispute about my payment going up by over XXXX dollars, and instead of resolving it they charged me anyway.
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| 11/26/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
- Payment process
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Web |
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| 11/10/2023 |
Yes |
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- Trouble during payment process
- Loan sold or transferred to another company
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Web |
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| 05/27/2023 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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| 04/19/2023 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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| 04/06/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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| 03/13/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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| 05/20/2021 |
No |
- Mortgage
- Conventional home mortgage
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Phone |
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| 04/19/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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