Consumer complaint received 2017-09-22
Company: Freedom Mortgage Company
State: TN
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
During the months of XXXX, XXXX and XXXX XXXX I received several pre-approved notifications from Freedom Mortgage guaranteeing me a cash out refinance loan on my current home in amounts up to {$170000.00}. On XXXX XXXX, XXXX I contacted Freedom Mortgage to inquire about the process and qualifications necessary to receive a refinance loan. I spoke with Loan Officer XXXX XXXX ( NLMS ) XXXX. I informed XXXX XXXX that I had received correspondence from them stating that I had been pre-approved for a refinance loan and was guaranteed approval as long as my financial situation had remained the same since XXXX, which it had. I agreed to apply for the loan ( {$25000.00} ) over the phone with XXXX XXXX. I spent approximately one hour on the phone with XXXX XXXX providing him with very detailed information regarding my property, my financial status, my personal information including my SS # and agreeing to a " Hard '' credit check immediately. During our conversation, XXXX XXXX stated that everything looked fine in terms of me being approved for the loan. He stated that he would call me back the following day to follow-up on some minor details. I also informed him that I would be contacting him to provide him with my current home loan rate and the balance owed on my home being that I did not have it available during our conversation. XXXX XXXX sent me a very courteous email after our conversation ended with his phone number asking me to call him if I had any further questions. On XXXX XXXX, XXXX, I called XXXX XXXX but was unable to reach him. I spoke with the operator who attempted to locate him but was unable to do so. I spent the following week and a half attempting to reach XXXX XXXX to provide him with additional information but was unable to speak with him. He was either unavailable or the operator informed me he would return my call. He never did. The operator attempted to get someone else to assist me but that proved unsuccessful. I was told numerous times they could not locate my application. On XXXX XXXX, XXXX, I received standard notification from Freedom Mortgage providing me with my credit scores from all three major credit agencies. This notification did not indicate whether I was approved, denied or did not provide a current status on my loan request. On XXXX XXXX, XXXX, I received notification from Freedom Mortgage via USPS that my refinance loan request had been denied. This was a major surprise being that : 1 ) XXXX XXXX had not received all of my information needed to fully complete my application, such as my current home loan rate, 2 ) my financial status had not change since XXXX which would have all but guaranteed me the loan as stated in the correspondence I received from Freedom Mortgage, and most importantly 3 ) I had absolutely no communication with XXXX XXXX or anyone at Freedom Mortgage from the date I initially applied for the refinance loan ( XXXX XXXX ) until I received the denial letter ( XXXX XXXX, XXXX ). This is even after many attempts I made to communicate with them. On XXXX XXXX, XXXX, I received a text message from XXXX XXXX ( I understand the VP at Freedom Mortgage ) checking on my loan experience. As of XXXX/XXXX/XXXX, I have made several attempts to reach XXXX XXXX, but am getting other staff at Freedom Mortgage stating that he is either out of the office or busy and they will ask him to return my call. No response yet. I called XXXX XXXX on XXXX/XXXX/XXXX using the phone # he left in his text message to me and somehow reached an employee in the Arizona 's Freedom Mortgage office named XXXX. She was unsure how the call got transferred to her office. She proceeded to assist me with my issue, but she too could not locate my application and suggested I call the NJ office back. On XXXX XXXX, XXXX, I received a call from XXXX XXXX ( I understand a manager at Freedom Mortgage ) asking me to call him to discuss my situation. I have since made several calls to XXXX XXXX ' office and left messages but as of XXXX/XXXX/XXXX have not received a response. In XXXX XXXX ' voice mail message to me he also stated that he could not locate my application. As of this writing, I still have no resolution to my concerns, have not been able to speak with anyone at Freedom Mortgage regarding the way my entire application process was handled or not handled and a clear reason as to why my application was denied being that I was all but assured it would be approved at the time I applied and that my financial situation had not change from XXXX - XXXX, again, all but assuring me that my application approval was guaranteed. The sheer lack of communication after the initial application intake is totally unacceptable and unprofessional. I ask that this matter be addressed as soon as possible by Freedom Mortgage or I will not hesitate to pursue further actions to remedy this totally unacceptable treatment.

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