| 06/17/2015 |
No |
- Mortgage
- Conventional fixed mortgage
|
- Credit decision / Underwriting
|
|
Web |
|
|
We are filing a complaint against Shea Mortgage in California. We submitted a loan application with Shea Mortgage sometime on XX/XX/XXXX where we were issued a " loan approval ''. Given this information, we signed a contract with Shea Mortgage 's wholly owned subsidiary, XXXX XXXX, to buy a home located at the XXXX, XXXX XXXX, California. Construction started XX/XX/XXXX and we are now at the finishing stages of construction.
Shea Mortgage demanded updated data and credit report XX/XX/XXXX which we complied. A new " loan approval '' was issued again. This time we paid an appraisal fee in the amount of {$450.00}, and we were promised that if our loan can not be approved, then the appraisal will not be ordered. The appraisal was ordered, so it means our loan is approved.
Every week beginning XX/XX/XXXX, Shea Mortgage asked for more documentation, which we provided and complied. This charade has been ongoing for the last 5 weeks.
On XX/XX/XXXX, the loan processor demanded XXXX more items before a FINAL loan approval can be issued. Again, we provided everything Shea Mortgage asked for on XX/XX/XXXX. A couple of days later, XX/XX/XXXX, we were told that we should have the FINAL approval within 24 to 48 hours. It is now over 96 hours, yet we have not received the promised FINAL loan approval even though we have given them everything Shea Mortgage asked.
We did not get a Good Faith Estimate until XX/XX/XXXX. Are n't lenders supposed to give the borrowers a Good Faith Estimate within 3 days after a complete loan application is received? We locked in our rate for 60 days on XX/XX/XXXX, and instead of a written rate lock agreement, we were given a " Itemized Fee Worksheet ''. We are very concerned the lender is delaying the issuance of the final loan approval ; our rate lock expires and we will have no choice but to agree to a higher rate and maybe fees.
We pray the Consumer Financial Protection Bureau is here to protect helpless consumers like we are.
Thank you.
|
| 10/19/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Settlement process and costs
|
|
Web |
|
|
We sold our home and because of the new regulations we had to rent numerous storage units and find temporary housing rather than being able to do simultaneous closings as we have done for the past 40+ years! We have incurred XXXX dollars in incremental, unnecessary costs as a result of the new regulations that also require the mortgage companies document that the monies from the sale have POSTED, not be pending before they will send the new home purchase docs to underwriting. Add to this the additional days to review documents that take literally minutes to review and if an error is found the timer starts all over again! Today is XXXX XXXX and we are in day 12 of our limbo situation with no line of sight into a closing date. There was additional delays on the sale of our home as a result of the same regulations which added to our storage costs. Who is regulating these regulations and calculating the incremental XXXX dollars it is costing consumers to store their property and find alternative living arrangements? THIS IS NOT THE FAULT OF THE MORTGAGE COMPANY NOR THE TITLE COMPANIES, THIS IS A REGULATORY ISSUE! Also note, the address I am REQUIRED to provide in this complaint is my INTENDED address as I have no REAL mailing address as a result of these regulations! I am effectively HOMELESS!
|
| 10/16/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Unable to get your credit report or credit score
- Other problem getting your report or credit score
|
|
Web |
|
|
We where in the process to purchase a Home at a Community that This Mortgage Company has. The issue was this company gave us wrong information in regards credit score and no inventory to purchase and information to go ahead to run the credit report. I had to open an investigation with the Credit Bureaus a d contact them to find out that your company told us was extremely low we are talking about a credit score XXXX to be lowered supposedly XXXX this outrageous. Also this Company refuse to show us the scores nor give us the source of your third party company witch was extremely wrong. I wanted to stress this incident also it reflects the unprofessional service and malice and discrimination process to the FTC Credit Laws in our State.
|
| 12/01/2018 |
No |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
|
| 09/22/2016 |
No |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 03/15/2016 |
No |
|
- Disclosure verification of debt
- Not given enough info to verify debt
|
|
Fax |
|
|
|
| 11/24/2015 |
No |
|
- Application, originator, mortgage broker
|
|
Web |
Servicemember |
|
|