Consumer complaint received 2020-09-25
Company: IMPAC MORTGAGE HOLDINGS, INC.
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
In middle of XX/XX/2020 I began the process of refinancing my mortgage. I was with Cashcall Mortage for years without incident and called and emailed them to give them to opportunity to keep my business.

I didn't hear back from Cashcall until I was down the line with another bank who were going to refinance my mortgage. Around XXXX as well, Cashcall sold my loan to XXXX, so I was aggressively pursued to go back to Cashcall. The Loan Agent XXXX XXXX, called me dozens of times in a matter of a few days when I told him I was going with another company ( you can check his phone records around XX/XX/2020 and I can show my phone records ). He promised me that since Cashcall had my mortgage for a few years ( never sent a late payment ) that I would have less paperwork to process going back to Cashcall then if I went  to another company for a refinance. So a week or two later, I stopped going with the other loan company and went back to cashcall to process my refinance since I was promised a quick and easy  process. 
I was upfront always about having a baby in XXXX of 2020 and that I was XXXX XXXX and that my income would be about 2/3 of what it has been the past few years. I was told it wouldn't be a  problem. XXXX was very persistent and worked with me very well. I gave him everything he needed right when he needed it with no indication of any upcoming problems due to making less income in 2020. 
Throughout the process was never told once that my income being less this year would be a problem as I mentioned it to make sure ( the year isn't over and in my industry the last quarter is when my influx of income normally comes ).

Cashcall sent a notary to my house on XX/XX/XXXX. They asked me for a few more pieces of paperwork on Sunday the XXXX of XXXX ( the loan needed to go through on XXXX of XXXX ). I was told by XXXX XXXX in an email that the additional paperwork being asked from me which I had sent was " Rcvd and the loan is good to go thank you ''.

I have the via email.

I signed the notary paperwork, and after not once being told in advance that there would be a problem with my income being less this year then the past few years, was denied my loan. 
My credit rating is XXXX XXXX XXXX XXXX at the time of notary signing. I have never missed a mortgage payment ever. I have enough money in my savings account to pay for 10 months of mortgage payments as well as enough money in my business and personal for another 4 months. My only other outstanding loans are a small car payment and very small XXXX bill ( which by the time of this email now is XXXX ). 
I was told I was denied because my income is " half '' of what it was last year. Which isn't correct. Again my loan agent knew about the birth of my daughter and that would result in a slight decrease in XXXX XXXX income this year. I was open about my income that will come in at 2/3 ( not half ) at the end of XX/XX/2020from what it was the past few years. 
I'm told not to state certain numbers on here but 2/3 of my normal income is still a sizable 6 figure income that can more then pay for the mortgage payment. 
My complaint is a variation of predatory behavior, time wasted when I could have been getting a loan from another company, the persistence that my refinance request with Cashcall who said I would be okay as a XXXX XXXX  person ( who I had been a customer with for years, who I never missed a payment with ). And obviously the big thing which I have in writing is that I was told via email that my loan had gone through -- before a few days later I was told it hadn't gone through. 
In the days since I have called cashcall and my loan XXXX and left 5 messages and asked to speak to someone before reporting to CFPB. I emailed asking for someone to speak to, called and called and no one has responded so I'm posting my complaint here and waiting for someone to get back to me.

I want my refinance to be reviewed by another underwriter. I want to be able to speak to the someone above the underwriter who denied my loan. After all the months of paperwork I need answers and reasons that aren't arbitrary like my income for XX/XX/2020 being the  reason-where the year isn't over and I wasn't able to let them know about my income projections coming in at the last quarter of the year. As it normally does every year coming in hartley of the year.

Company response to consumer: Closed with explanation