Consumer complaint received 2015-07-31
Company: NATIONSTAR MORTGAGE LLC
State: UT
Product: Mortgage
Sub-product: Other mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
XXXX XXXX, XXXXTo Whom this May Concern : Please consider this a formal complaint against Nationstar Mortgage , LLC of XXXX, TX, servicer of my delinquent home loan, for incorrect loan modification denial, due to failure to correct underwriting errors and material inaccuracies in NPV input values. I am aware that Nationstar has a history of aggressively and un-rightfully taking homes in foreclosure, even when the borrower qualifies for a loan modification. I believe I qualify for a HAMP Loan Modification, but Nationstar is trying to un-rightfully foreclose on my home. 

My home loan originated through XXXX XXXX XXXX, was sold to XXXX XXXX XXXX and is now owned by private investors with mortgage servicing by Nationstar. 

I have extensive experience in the mortgage lending industry, and my own loan modification application with Nationstar has been un-rightfully denied, due to simple, basic underwriting errors and material inaccuracies. 

I have been advised by Nationstar Customer Service Representatives working out of the Texas call center, that Nationstar Mortgage is sending loan modification application files oversees, possibly to XXXX, for underwriting ; which has resulted in numerous difficulties for the applicants, including " lost documents '' and loan denials, due to significant basic underwriting errors. 

In my personal loan modification application experience, as an applicant who has been a licensed mortgage broker, I attest that my loan denial and appeal denial, have both been due to simple underwriting errors that would not occur by a U.S. based certified mortgage underwriter. 

Background : In XXXX XXXX, I originated an Option ARM mortgage loan through XXXX XXXX Loans, for my primary residence in a XXXX, Utah. I became delinquent on my home loan, due to a reduction of income in my XXXX crisis of XXXX, as well as my ex-husbands reduction of child and support payments due to his XXXX. Both issues causing the reduction of income have now been resolved, and my income is stable again. 

XXXX XXXX, after my home loan had been transferred to XXXX different servicers, I made an application for a Loan Modification. As a previous mortgage loan broker, I was certain my application would ( finally ) meet the required loan modification guidelines. 

My application stated, and all documents were sent to validate, Monthly Gross Wages of {$XXXX} and XXXX Income of {$XXXX}. Total Gross Monthly Household Income of {$XXXX}. 

However, due to the underwriting practice of " Grossing-up '' non-taxed XXXX income, my Total Gross Monthly Household Income should have been calculated in underwriting to {$XXXX}. 

Total Gross-up Income : {$XXXX} Monthly Gross Wages : {$XXXX} {$XXXX} XXXX : {$XXXX} x 125 % = {$XXXX} Alimony : {$XXXX} $ XXXXXXXX XXXX, I received a Loan Denial letter from Nationstar Mortgage , stating too low of income. And negative NPV. Upon receipt of the letter I found my Monthly Gross income incorrectly stated at {$XXXX}. 


I have submitted Divorce documents, employment agreements, monthly bank statements and the Utah Office of Recovery Services XXXX, XXXX Support Payment Schedule and a current ORS XXXX YTD Support Payment Schedule were provided to validate the income yet Nationstar continues to omit XXXX and Alimony income documented for over a XXXX month period. 

When I input my NPV values, with the correct gross income amounts, I qualify for the HAMP loan guidelines. 

As it stands, I will be submitting another appeal to Nationstar Mortgage for Loan Modification. However, should my application be declined again, I will have no option but to file legal action, which is expensive, and may or may not solve the problem. Please help me complete the loan modification for which I qualify.

Company response to consumer: Closed with explanation