Consumer complaint received 2022-05-23
Company: Mr. Cooper Group Inc.
State: LA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
On XX/XX/XXXX I locked in ( for 60 days ) an interest rate of XXXX percent for a home refinance loan with Mr. Cooper, working with XXXX XXXX, Mr. Cooper Mortgage Professional, XXXX. Please see attached documentation supporting this 60 day rate lock of 3.625 %. 

XXXX XXXX XXXX explained to me that communciation about my loan would now be through XXXX XXXX, Loan Processor, XXXX, who was assigned to my loan. Loan XXXX was conditionally approved on XX/XX/XXXX. 

I am going through a divorce and the plan was to refinance the house under my name only. Both XXXX XXXX and XXXX XXXX at Mr. Cooper were aware of this circumstance. I was told that there might be some extra paperwork for my husband to sign at close if the divorce was not final. My husband and I had a meeting with our divorce mediator on both XX/XX/XXXX and XX/XX/XXXX and the agents at Mr. Cooper were aware that I was awaiting these meetings to learn more about my financial situation. We were in communication over the phone and via email in regards to these meetings. The agreement was to that they would be contacted and updated after the meetings. 

The attached emails show that XXXX XXXX, Agent XXXX  # XXXX, began contacting me at the end of XXXX, threatening to cancel my loan if I did not respond to her, which I did, letting her know that another meeting with attorney was scheduled for XX/XX/XXXX. At this time, I was told that XXXX XXXX XXXX no longer worked for Mr. Cooper. On XX/XX/XXXX, XXXX XXXX sent me an email saying that if she did not hear from me by the end of business on XX/XX/XXXX, that my loan would be cancelled. 

Please see the attached documents showing that I emailed XXXX XXXX at XXXX pm on XX/XX/XXXX letting her know that I would like to proceed with the loan. Additionally, please see attached screenshot of my outgoing phone call to XXXX XXXX at XXXX pm on Friday XX/XX/XXXX. I left a voicemail saying that I would like to proceed with the loan. However, XXXX XXXX ignored my email and voicemail expressing my desire to continue with my loan within the allotted time frame. She emailed me back at XXXX pm on Friday XX/XX/XXXX telling me that my loan had been cancelled. 

XXXX XXXX had expressed concerns that their underwriting department needed at least a week to get everything together, and my rate lock was good until XX/XX/XXXX. I reached out to XXXX XXXX and XXXX XXXX of Mr. Cooper in regards to what I consider to be a breach of contract on their part. The agents at Mr. Cooper tried to say that I was not responsive to their communication, but I disagree and I believe that my supporting documents show that I was within the allotted timeline given to me by XXXX XXXX, however, she chose to ignore my communication. 

Additionally, I received a notice on XX/XX/XXXX, through XXXX, saying that my application was denied because of an incomplete credit application. All documents requested were provided. 

This 3.625 % interest rate would have saved me $ 200 monthly. I have been a public school educator for 20 years and now I am a single parent. XXXX XXXX dollars a month is extremely significant to me. I am shocked and disgusted with Mr. Cooper. I hope that this complaint will help to protect me as a consumer against a company that chose not honor their written communication and the rate lock agreement. There was no reason to cancel my loan.

Company response to consumer: Closed with explanation