Consumer complaint received 2020-08-10
Company: NETWORK FUNDING, L.P.
State: TX
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I contacted Network funding LP XXXX XXXX. I was given the number to one of the loan officers by my realtor. The loan officer XXXX and I had a brief conversation stating the reason why I was given their number. I had previously tried getting a loan through a different lender but his lack of communication concerned me. When I called XXXX I let her know that i only had XXXX to work with. I told her I had D.A.C.A and that they had previously said my debt to income was to high. She indicated that she can work with me and we continued the process. XXXX was able to get us a pre approval for XXXX and indicated we had wiggle room to go up once we found a house. We bid on the house that week and after that everything seemed to change. XXXX stopped responding to my emails or calls promptly. She would mostly only talk to my realtor and we began having issues. XXXX changed my approval terms from a conventional loan to FHA. I was under the impression DACa a recipients did not qualify for FHA. Nonetheless we moved forward. We had a closing date if the XX/XX/XXXX. We were expecting the file to already be in underwriting I contacted them 4 days before because I had not received documents on the loan. XXXX didnt get back to me and talked to my realtor first. XXXX had not put the file into underwriting and now 4 days before was letting me know my DTI was too high and we had to change it back to conventional loan due to me having DACA something she knew before hand. She initially gave us an estimate of XXXX in closing cost. She then told me I needed to pay XXXX in debt. This quickly changed to XXXX and having to pay XXXX in debt. All days before my second push back in closing. We moved forward in everything due to it being so close to XXXX. I let her know I needed to be out of my apartment by the XXXX she said she would try and get it sent to underwriting. This was a lie my file stayed under review and eventually go into suspension due to her lack of working on the file. The listing agent and my realtor both had to contact her manager due to all the last minute changes and dragging of this company to due as they promised. Close to the second closing date she let me know we needed to find a cheaper insurance due to my DTI being high once we factored in the mortgage and monthly. We found an insurance but she did not work that into the file on time. After being left out of the equation multiple times not knowing where we were in the process I finally had my file under review. During this process XXXX took over and proceeded to tell me how we were getting my file off suspension. XXXX had said it was denied previously due to DTI being to high and said we were in underwriting to my realtor upon pressure by them to provide information. XXXX worked on my file and then came up with the fact that she had added a XXXX gift payment twice and now needed me to produce an extra XXXX to continue with the underwriting process. With me doing everything that they asked me to get my loan approved and having so many set backs due to the miscommunication, lack of working my file in time, misleading and gross mishandling of my file, this has lead me to believe they have no interest in providing the service they promised.

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