Consumer complaint received 2020-09-02
Company: MORTGAGE LINK, INC., THE
State: DC
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
It is disturbing that The Mortgage Link, XXXX XXXX XXXX, XXXX XXXX, XXXX, MD XXXX appears to discriminate against women and XXXX-Americans. After seeing a promotion from the company on XXXX XXXX XXXX, I called Mortgage Link and was connected with XXXX XXXX on XX/XX/2020. I asked for a single family home refinance estimate and XXXX collected my personal information such as federal tax returns, pay stubs, mortgage information, etc. 
He provided a great estimate for my primary residence in writing on XX/XX/XXXX, we had other conversations and email exchanges in which I requested additional refinance estimates for investment properties. XXXX again quickly responded and provided a written estimate on XX/XX/XXXX and XX/XX/XXXX. I agreed to move forward on refinancing two properties with Mortgage Link. XXXX asked for additional information to finalize the transaction. XXXX acknowledged receipt of my drivers license and other documents such as proof of reserve funds on XX/XX/XXXX. He asked and I granted him permission to pull my credit only because he gave me the impression that the transactions were good to go and we shouldnt have any problems setting a closing for some time in XXXX. He mentioned in a phone a conversation that he was meeting with the underwriters and he may need additional information. 

XXXX continued to ask for personal information and financial information that proved income and reserves, which I provided. After not hearing from him for a few days, I reached out and he said the processor had some problems with information on my tax returns showing losses. He explained that new XXXX XXXX requirements for more reserves and proof of profitable investment income is a problem for me. His explanation did not make sense to me and what he said should not be reason to denying me a loan. I provided evidence of income and more than 6-12mth reserve income for all properties. My credit is in the 800s ; I have a great salary. I have never been late or missed any of the three mortgage payments. If I have consistently paid the mortgages, it is not warranted to think that I would not continue to make a lower payment amount. 

It was not until he asked and received a photocopy of my drivers license with my photo, did the tone and response of completing the transaction deteriorate. On XX/XX/2020 I requested an explanation in writing, explaining why I was denied the refinance loans and the criteria for making their decision. Later that day, XXXX responded via email saying that my file was not with an underwrite, but that I was not denied. As of XX/XX/2020 I have not heard anything from Mortgage Link. Not responding to my request for their approval process and stating that I was not denied, while ignoring my follow-up is unacceptable. 

This is an outrage in the year XXXX  that a company can cavalierly discriminate against people of XXXX. This travesty must stop and The Mortgage Link company should be held accountable for propagating discrimination, violating the Fair Housing Act and the Equal Opportunity Act. It is very nerve-racking that this company has pulled my credit and has access to so much of my personal information. 

The Mortgage Link should be investigated for discrimination and they should be required to openly share their requirements and review criteria for accepting/denying refinance and mortgage loans.

Company response to consumer: Closed with explanation