Consumer complaint received 2017-05-05
Company: CAPITAL ONE FINANCIAL CORPORATION
State: MD
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
Dear Sir/Madam I am perplexed with my application process with  Capital One  Bank. I received a correspondence from the above lending mortgage company advertising to refinance and receive a {$500.00} bonus in my account upon closing. I accepted the offer and did qualify according to  XXXX   XXXX . I supplied all the required documents to further process my refinance loan. During the transaction  XXXX   XXXX  was able to retrieve my  credit score  and upon qualifying he made a request for a payment to conduct my appraisal. In turn, I gave him my visa credit card on  XXXX   XXXX ,    2017.    Later, I received a call as I was assigned to Loan  Specialist   XXXX   XXXX  who took over, and summarized my business dealing had with  XXXX   XXXX  but more importantly, I expressed the conversation regarding the waiver of my escrow proposed by  XXXX   XXXX .  ( if  my appraisal was higher than {$260000.00} his company would wave my escrow ).  XXXX   XXXX  said I should remind her at the end. Following our conversation a week after, I received a call from  XXXX   XXXX  the Friday before  XXXX  weekend following up with me. On  XXXX   XXXX ,  2017   XXXX   XXXX  said they placed an order for my title. In addition, she mentioned, my application was in under writing. During this time, I conveyed I was having an issue uploading my explanation letter and emailed the document. After I received an email from  XXXX   XXXX  requesting all my bankruptcy documents in which I supplied on the date requested the following week I contacted her Manager  XXXX   XXXX  being  XXXX   XXXX  did not reply to my emails on  XXXX     2017. He  had begun to speed up the process. Next on  XXXX   XXXX ,    2017 t he settlement representative had contacted and there after I received an email from   XXXX   XXXX   XXXX    XXXX  requesting my signature to authorize release from my mortgage and equity for a payoff. The next day my application was denied because of my  credit score.  This action seems unethical and has bought fort unprofessional behavior in my dealings wi  th Capital One Bank.
The point of this grievance is prior to the above transaction, my    application was pre-approved  XXXX   XXXX   2017, an d then approved  XXXX   XXXX ,  20017 a nd again  XXXX   XXXX ,    2017 b ut for some reason on  XXXX   XXXX ,  2017, I  was denied. On  XXXX   XXXX ,    2017 I r eceived a call at  XXXX  from  XXXX   XXXX   XXXX    XXXX   XXXX   XXXX   XXXX   XXXX   stating she was preparing my closing with Capital One Ban k . M y question is this normal practice for a lending industry to actually, terminate my loan so abruptly at the phase of settlement knowing my score was  XXXX  during the initial application. There were numinous errors pertaining to my loan request on my application, amount of assets, purpose written as an equity loan meanwhile the offer is only for mortgage or refinance loan. I gather all the necessary documents to sustain my loan. I am not sure why or who drop the ball. I am requesting an investigation in this matter with  Capital One  Bank as I find this incident as unethical. Thank you in advance for addressing my concern with  Capital One  Bank as I am looking forward to a resolve.     Sincerely,  XXXX   XXXX

Company response to consumer: Closed with explanation