Consumer complaint received 2020-04-30
Company: PROVIDENT FUNDING ASSOCIATES
State: NJ
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I applied for a refinance on XX/XX/XXXX via a broker that was referred to me. Locked the rate on XX/XX/XXXX, along with uploading of all of the documents that were requested of me by the bank, Provident Funding.  Scheduled an appraisal that day, to be done within days. Title work was ordered and that came back clear on XX/XX/XXXX. All requested docs were submitted to the bank within this time frame, always within 24 hours of the request. I've been punctual, as I was looking for a quick and easy close ( I have all my things in order and have excellent credit ) Every couple of days, the bank would ask for something else, then a delay, then something else during this time. It seemed like they were intentionally delaying this. I had/have provided everything they asked for. XX/XX/XXXX rolls around and they are asking why I don't have my XXXX taxes done ( XXXX XXXX, accountant handles it ). Due to the COVID 19 pandemic, I understand things can be delayed and I'm reasonable due to the situation. They have me jump through hoops with my accountant even though XXXX Taxes are not due until XX/XX/XXXX! Everyone knows this, they, however, again seem like they are trying to delay the process. I was able to get a letter from my accountant stating that he was preparing them and they weren't due until XX/XX/XXXX. 
Then, they ask for my bank account information and that was done by XX/XX/XXXX. At this time the broker was changing my lien holder on my homeowner 's insurance, as required by the bank. 
Then they want proof my business is up and running ( I supplied that XX/XX/XXXX ) XX/XX/XXXX, they want my business website along with transaction history on my bank account ( which I already provided ). Sent a copy to my broker, as well as posted it up via their website. They apparently don't know what a DBA is, as the website address doesn't match my XXXX, provided that as well same day ( I see a trend here ). 
XX/XX/XXXX, they want to see my bank account information yet again ... they got it twice from me and also my broker a few days ago. Re-uploaded within an hour. 
XX/XX/XXXX, shows loan approval. However, the rate lock is expiring and they won't let me close without that being extended. No big deal, this was discussed with my broker before that we'd have a free rate extension and should be closing soon after. 
I texted my broker on XX/XX/XXXX ( as I've had zero contact ) and he replies that they are charging me an 1/8 of a point on the loan because we didn't close on time. While I don't agree this was done in good faith, I signed it after speaking to my broker because I don't want this delayed anymore. 
No contact the next couple of days so I reached out to my broker again on the XXXX asking if he has a contact number so I can move this along. He doesn't have one and he has to put a case in via the system. 
This was a week ago and I have tried on 5 or 6 occasions to reach out to the bank via phone and left a few messages, none of which were returned. I did not get in touch with the bank, and my broker did not call me back either. He says his hands are tied and he's been ok through this, but I find it a little strange that a guy that is bringing the bank business isn't able to get someone on the phone ( pandemic or not ). 
In a normal situation, this could have been super quick and done in less than 2 weeks because I ordered title work and appraisal the day after my initial application. I realize people are working from home but everything on my end was done remotely and in a timely fashion. I expected that from them too, but it's been nothing but delays, inconveniences, and busy work to delay the closing of this loan. I am ready to close any day, any time of day, and any location. I've told my broker this for the last 4 weeks. 
Before filing this complaint, I received an email from the bank AGAIN asking me to provide proof that my business is open ( I did this THREE WEEKS AGO ... why haven't we closed ). I submitted a harshly worded letter, letting them know this process was unneccessary and was being dragged on for no reason. To make sure they actually read it, I submitted it with the proof they requested, that my business is still open. In the letter I told them I was filing this complaint because I don't believe I've been treated fairly or efficiently. AND they charged me a rate penalty because they aren't ready. I'm done being left out of the loop here.

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