Product: Mortgage

My boyfriend and I applied with this lender in XXXX of XXXX. He told us at the time of approval that he could get us approved for up to {$400000.00} with the possibility of some debts being paid down. He then recommended a realtor that he was worked with that has experience with XXXX loans which is what we got approved for. XXXX, the lender, already assured us that we had been approved to purchase a home and that we were okay to put in offers. We put in offers on a few homes and each time the realtor would ask the lender to draft up an approval letter based off of the amount that we were putting the offer in on the home. Our process started off okay but then it went completely downhill. My boyfriend and I finally found a home that we both liked and were wanting to move forward with and that was XX/XX/XXXX of XXXX. Prior to this, we already had an issue with the lender not disclosing issues with our credit. Before putting down our offer we had asked the lender to give us our cash to close amount that way we made sure we were on track. The lender gave us the information but the amount he gave us was about {$10000.00} more than we were expecting. When I inquired and asked why, he said that due to my boyfriend having such a low XXXX XXXX, his company was saying it is MANDATORY for us to buy down the rate. I told him I've never heard of anything being required but optional for us if we want to pay a higher mortgage then that should be our choice. At this time we were also looking into the option of another lender, so I gave her a call and told her what XXXX was saying in regards to the rate. She assured me that she's never heard of that being a requirement and she ran numbers on their end and the numbers she had given us were completely different including the interest rate and down payment required. My boyfriend and I were highly upset and expressed this issue with our realtor and told him we do not want to move forward with this lender being that he was already dishonest and tried to slip in extra monies without disclosing it with us prior. My realtor told us that we had nothing to worry about and that he would talk with the lender and get this resolved. The lender then reached out to us asking for a copy of the numbers we had received from the other lender. Moments later, we received a text from XXXX saying that " all of a sudden '' he had no problem matching the other lenders offer. My boyfriend and I still weren't too excited, but our realtor assured us that we would be fine and to move forward. We finally got our offer accepted on the home we wanted on XX/XX/XXXX which included a {$10000.00} non-refundable deposit that was suggested by our realtor to make the offer look strong and also approved by the lender. After the offer had been accepted and we were moving forward, the lender decided to let us know that there may be an issue with my boyfriends overtime and he is not sure he will be able to get the loan approved and the only way to get this resolved is by having his HR send a letter to him stating that overtime is mandatory. Our realtor told us to not give the deposit until this issue was resolved to make sure this deal would move forward. After about 2 days of going back and forth with my boyfriends HR we were told that our lender received the necessary letter and that he would double check with his underwriting team to make sure this will not push the loan out of approval for the home. We asked for a copy for a copy of letter at least twice which we never received although we were told we were. The next communications that we received were from our realtor letting us know that we were good to send in the money for the deposit, so we assumed that everything had been resolved. For the next XXXX weeks we were finalizing paperwork and any documentation that the lender needed from us. We were set to close on XX/XX/XXXX. XX/XX/XXXX is when the lender told us that his underwriter is not able to approve our loan based off of the letter that was received from my boyfriends HR, because it stated that although overtime is mandatory it can not be guaranteed in the future. XXXX told us that the only way we can move forward is by having a co-signer. My boyfriend and I were not too fond of this idea at first but ended up deciding to see if we could ask my parents for help. This ended up not being possible being the fact that they haven't had to file taxes for a few years. The lender asked us if we could ask any other family members and then we can refinance in 6 months and have them removed, and I said none of my family members have the credit or ability to have this added to them financially. He then asked my boyfriend and I if we could use his sister. We both said no, because she herself had just bough her first home XX/XX/XXXX and we don't want to add a {$350000.00} loan onto her on top of that. XXXX, the lender, told us that it would be fine and it won't affect her at all. We told him no, because her credit and financials were not in the place for this. At this point our realtor told us we were at risk of losing our {$10000.00} if we didn't figure out a way to get this done. Again, the lender reached out to me personally and asked me to talk to my sister in law which I reminded him that we already expressed to him why we can't do that. He then reached out to my boyfriend personally and asked him to talk to his sister in which my boyfriend replied and reminded him that we already said that we would not do that. All of this had pushed us into XXXX at this point. The lender finally said that he thinks he can get us approved but he needs an updated letter. I raised the concern that isn't that altering a legal document since HR already submitted paperwork, so If you get a new letter based off of a statement that you need it to say, I am worried underwriting would flag our whole account. He said no it's okay and wouldn't hurt us. The lender asked if my boyfriend could get a letter from his direct supervisor stating overtime was mandatory. My boyfriend said he would try. He reached out to his direct supervisor but in turn the supervisor said that if XXXX already submitted paperwork, that he can't send anything discounting that because it would be against company policy since XXXX has the final say. XXXX and the realtor then again asked my boyfriend to reach out to his HR. At this point we are completely frustrated and upset and wondering why all of this was not taken care of before we put in an offer and had it accepted. We are trying to work with our realtor to see how we can get our deposit back in which we are told our only option is to move forward and purchase or give up the money. After all of this time the realtor still hasn't handed over the check, it was in his possession. The realtor and the lender took it upon themselves to reach out to my boyfriends HR even after he had asked them not to and they ended up getting a completely different letter on XX/XX/XXXX. XXXX said he would submit that to underwriting which was XX/XX/XXXX and was hoping to have an answer. On XX/XX/XXXX ( our original closing date ) he said we were being given a second chance and asked for some more information which I sent to them that day. XX/XX/XXXX is when underwriting finally approved our file. My boyfriend and I sent a proposal for different terms on XXXX XXXX let the lender and realtor know that since the contract stated our close date was supposed to be XX/XX/XXXX and we didn't meet that date our contract was voided per the language of the contract and that we can only move forward with the loan with new terms. The realtor didn't respond to us until XX/XX/XXXX. I had been traveling and dealing with legal issues at the time so I wasn't able to send a response until XX/XX/XXXX and the realtor was asking the lender to close the file. XX/XX/XXXX we talked to the realtor an explored our options, we told the realtor we can not close until XX/XX/XXXX to move forward due to emergency expenses and that the money would be ready by then. The realtor told us that the seller is not able to close in XXXX and that the seller will have to be the one to terminate the contract and that we will still not be able to get our money back. We said okay we have no other choice then. The realtor told the lender it was our choice to terminate but we said that we are not able to agree to terms with seller and so the deal can't move froward. XX/XX/XXXX we received and email requesting documentation to move forward and close the loan. The realtor responded and said the file will be not be moving forward. XX/XX/XXXX I checked our online portal and saw that we had been transferred to a new lender, XXXX. XX/XX/XXXX the lender reaches out to me asking to sign the realtors termination letter on behalf of the realtor. I called the Lender 's company and spoke to XXXX XXXX, Compliance Senior Vice President, on XX/XX/XXXX letting her know what happened and she apologized and said that is not how the company is run, she said that the only way to move forward with an investigation is to have the loan and file closed out because right now we have an open loan just sitting there not doing anything and I agreed. She asked me to send her documentation which I did. A few weeks later we received a letter from the XXXX company stating that the fault was ours for not sending documentation when it was being requested of us and that we prolonged things moving forward. This was the last communications that we had.