Consumer complaint received 2020-07-09
Company: JAN (LendUSA) Holdings, Inc.
State: GA
Product: Mortgage
Sub-product: VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I applied for FHA mortgaged on XX/XX/XXXX, requesting that the lender apply for the Chenoa down payment Assistance-Program.. The loan officer, XXXX XXXX ( XXXX XXXX LENDUS/AMERICAN EAGLE MORTGAGE, NMLS # XXXXNMLS # XXXX ), insisted that a VA Loan was the best option, with zero down. 

I kept informing her that I had reduced entitlement due to a previous foreclosure ; however, she insisted that the new VA program, granted me full entitlement to the Full County Limit, of {$510000.00}, even after I sent her my VA Certificate of Eligibility, showing prior usage and reduced entitlement. She informed me that she sent my info  to the VA, and got confirmation of my full entitlement to the county limit of {$510000.00}. Lendus issued me a preapproval letter indicating a maximum loan of {$510000.00}. 

I signed a binding agreement and paid out {$550.00} for a home inspection, {$170.00} for radon testing, and {$3500.00} in earnest money. The lender order the appraisal which came back at {$460000.00}, {$1000.00}, above the asking price. 

Now the lender informs me, more than 35 days later, on the final day of my Financing Contingency, that the VA will not go the full amount of {$450000.00}, but only {$420000.00} with zero down, and that I will have to apply for a 2nd mortgage, or find another property. My real estate agent XXXX XXXX XXXX ) was at a lost for words, when she called him after XXXX on the last day of financing contingency, and asked if the seller would do a 2nd mortgage. 

However, the Lender informed me on XX/XX/XXXX, of the following : XXXX XXXX Fri, XX/XX/XXXX, XXXX XXXX ( 12 days ago ) to XXXX, XXXX, XXXX, me, XXXX XXXX afternoon, Giving quick a quick Friday update on your loan status. Your loan is conditionally approved and the processor will be working with you on your clear to close. I will be getting with you on your final cash to close as well. Please let me know if you have any questions. 
Thank you, Then my Real Estate Agent contacted me, stating ; I contacted XXXX yesterday for the official decline letter. The letter that she sent was just a summary on a letterhead. I do not want the agent/seller to dispute the validity of the letter so I requested the official letter of Statement of Credit Denial, Termination or Change. We have 7 days to provide it to the seller but if she doesn't give me one today, I'll send them what she gave us. 

Just so you know I did send the denial letter as requested asap and I did correct the letter to show that you were not approved for the loan amount that you requested, I am not sure what you are talking about as far a corporate! This email is completely inappropriate and unprofessional! 
Just so you know I did not send the 2nd letter corporate did as it was requested by your agent and a loan can certainly be denied for insufficient funds to close, you are way out of line! 
XXXX, do you have what is needed based on the correct letter of denial? 
XXXX XXXX Georgia XXXX XXXX The loan officer then sent me this email, indicating her incompetence, as follows ; XXXX XXXX Tue, XX/XX/XXXX, XXXX XXXX ( 1 day ago ) to me I am going to pay for the appraisal on your new home and give you a XXXX lender credit for this mistake! 

I sent the following email to the Mortgage Company 's agent ( XXXX XXXX ) ; Please consider your actions, as everything that has transpired is part of the record. Also, XXXX XXXX has informed me of the 2nd letter you sent, regarding me not having sufficient funds for closing, which is a lie, and a violation of Federal Law, in  relation to VA loans. Furthermore, I know that you think that you're getting back at me for going to corporate on you, get over it, you little child ; in fact, I have already commenced legal actions against you, and everything you have corresponded, is part of the record. 

Also, my Agent had secured an additional {$2500.00}. in closing cost, to cover some minor items which came up in the inspection, so the total " Buyer 's Contributions came to, {$9600.00} ; ( see the attachments ). 

This entire process has been an illegal and fraudulent process, starting with you failing in your due-diligence in obtaining the correct VA entitlement amount, to process my loan application. Yes, I have your ore-approval letters and emails and text, which will establish your incompetence, along with other fraudulent actions and activities. 

Finally, you don't know me, or who you're dealing with, my background in these matters is extensive, you don't know what you're getting yourself, into, because that 2nd letter you sent to XXXX XXXX, was a violation of your oath as a State Licensed Mortgage Professional, and maybe a violation of the Law. 

I will send this to your corporate office, also ... 

The loan officer respond with a XXXX retaliatory email, as follows ; I feel unsafe and threatened personally by this email, I have contacted the law enforcement, to say to me in writing I dont know who you are and what you are capable of I feel very attacked personally! I will not take this personal threat lightly! 
I have also forwarded this email to my attorney! 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, GA XXXX PH : ( XXXX ) XXXX

Company response to consumer: Closed with explanation