Consumer complaint received 2021-08-09
Company: Mortgage Research Center, LLC
State: IN
Product: Mortgage
Sub-product: VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I was going to buy a home for my family and I using a VA loan through Veterans United out of Missouri. It seemed like they knew all about these type of loans, its even a part of their name. I was pre approved on XX/XX/XXXX for the loan and began looking for a home. Found one we all really liked and paid {$500.00} to have it appraised. It was worth XXXX and so my loan was going to be for that amount. I paid {$1000.00} in earnest money to the sellers realtor. Veterans told me that there was a {$3000.00} bill that didnt even show up on my credit report and that if I paid that off in full, they would do my loan. So I paid the bill off in full. They wanted tax transcripts but I did not have those at the time because there was a backup at the IRS processing returns. I drove two hours away from my home to an IRS field office to have my XXXX filed taxes stamped by IRS official stamp. I did find out while there that they had no record of my XXXX being filed, so I came home and paid {$150.00} to an IRS electronic filer individual who works for the IRS and has the Efile machine. So then I have record of my taxes being filed for XXXX and my stamped XXXX. By this time Veterans has asked me to provide a substantial amount of proof and verification of things which I did. Everyday there was something new. I had plenty of money in the bank, my debt to income ratio is extremely low and my credit score remained good. They gave me a closing date of XX/XX/XXXX, sent me my closing documents. The day before closing, my loan officer decides that the underwriters need my XXXX tax documents as well and a bunch of other things Ive already submitted several times. Then I was informed I would not be closing and was denied. This was the day before closing, after submitting the same documents again and again. They didnt even tell me these things until pretty much the close of the business the day before the closing. So basically I lost the home, the sellers had in the contract they wanted to close in 30 days and we had Already went way past that and had to ask them to extend our contract before already. So now here I am no loan and I dont understand why. Why keep asking for more and more so late in the process like the day before closing. This had been going on since XX/XX/XXXX. So I lost the {$500.00} appraisal, they said if I paid the {$3000.00} bill that wasnt even showing on credit report they would do my loan, thats paid. I dont understand being denied the day of my closing. It was heartbreaking to my wife, child and myself. This seems extremely shady and bad business to me. Im going to complain to anyone who will listen. XXXX XXXX and XXXX XXXX of Veterans United is who was handling this. Also whenever I submitted something they asked for it would take days sometimes for them to even look over. Or they would say they did not receive it when I can see on their website they clearly did receive it.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation