Consumer complaint received 2022-07-13
Company: NAVY FEDERAL CREDIT UNION
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I began applying for a loan on or about XX/XX/XXXX with Navy Federal Credit Union. I was assigned a loan officer. From the first time I spoke with her, I detected her uncertainty about the loan process as evidenced by her vague answers to my questions. On a subsequent call this loan officer was distracted by a child in the background, and had to rush through the conversation with me. I was asking her about what other documents were needed, and she said I will review your file, and sent you an email about what documents are needed within 2 hours. I specifically told her that I was gathering proof of my rental income, that I receive from XXXX properties that I own, and I was told by the loan officer I think your employment income is enough, I will let you know if I need proof of any other income. In hindsight I realize that statement was probably made in a hurried attempt to end the call in order to tend to the child that was distracting her. This was our second and last conversation. I never received anymore requests for any addition documents. Approximately 3 days later, at XXXX on a Monday morning, I receive a denial package email. Reason for denial insufficient income to pay my debts, and delinquent accounts. I have no delinquent accounts. To add insult to injury the email went on to show that my application had not even gone through the entire review process. It appears that it was just a blanket denial without any merit. 
I am aware of another XXXX individual and member of XXXX that applied for a mortgage, earlier this year that met all criteria to qualify and was denied without merit. That individual was then approved by another lending institution within 1 week for a loan with the exact documents presented. 
I later read several articles about XXXX XXXX being investigated and ordered to pay fines for discrimination against XXXX people. One article even mentioned that XXXX XXXX was 110 times more likely to deny XXXX people My case is classic case of XXXX discrimination. 
Let me give you some history of me and my relationship with Navy Federal Credit Union : XXXX. I have been a member of NFCU since the mid XXXX XXXX. I have paid off a NFCU personal loan of {$14000.00} XXXX. I have paid off XXXX cars with NFCU XXXX. I have a small business checking and savings account with NFCU XXXX. My employment income is deposited in NFCU XXXX. Rent from one of my properties is deposited directly in NFCU. I receive rental income from XXXX of my properties XXXX. The mortgage from the home that I want to refinance has an automatic monthly payment drafted from NFCU XXXX. I have a NFCU credit card with a {$15000.00} line of credit with a XXXX balance as I have paid it off almost 3 times over when balances were {$8000.00} or even {$14000.00} XXXX. My credit score ranges from XXXX to XXXX according to NFCU periodic calculations XXXX. My debt is approximately {$5000.00} a month while my monthly deposits to NFCU are over {$20000.00} a month. ( Enough to pay my monthly debt 4x over ) XXXX. My W2 s from XXXX and the IRS transcript obtained by NFCU reflect that I earned over $ XXXX XXXX. Current check stubs submitted to NFCU reflect that I have already earned $ XXXX for the first half of the year XXXX. I have worked the same line of work for 28 years * What other qualifying factors are you looking for? 


Sent from my XXXX

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation