Consumer complaint received 2018-05-16
Company: PLANET HOME LENDING, LLC
State: FL
Product: Mortgage
Sub-product: FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
Today, XX/XX/XXXX I received a call from XXXX who advised that he gets sent the files that are hard to close. I asked why and how he was sent this file since no communication that I have received from who I thought was my current loan officer ( XXXX ) that she and her branch manager who I spoke with Monday was passing off the file. He did advise that XXXX has been cc-ing him in the messages which is further indication as to my surprise as to the purpose of his call. He advised that Planet Home has decided that they can not approve the house that we have had on contract since XX/XX/XXXX due to lien issues. I advised him that at no time since both myself and their bank has been aware of the liens which started from XXXX. First it was a cross colateral lien and then the HOA fined the property for paint and pressure wash. The only update to the lien was the fact that the HOA liens were sent to an attorney who filed for a summary judgment. Up to XX/XX/XXXX on a conference call between myself, XXXX, and XXXX XXXX, branch manager of the XXXX location, it was conveyed to me by them that title would not issue title for my safety and theirs on a property with a legal issue. XXXX went over three possible outcomes for summary judgment. Conversation as well as subsequent emails between Planet Home, XXXX XXXX ( realtor for both sides ) and myself was that all they needed was dismissal of the legal matter and that the liens were resolved. On XX/XX/XXXX, XXXX XXXX notified them that the seller and HOA attorney came to an agreement about dropping the lawsuit, paying {$7100.00} in fees and us as the buyers curing the liens within 90 days. The paint and the pressure was is being paid for through the financing as it is a XXXX XXXX loan and that was being covered for {$3000.00}. So now hearing that all this work has been done and Planet Home was fully aware to now hear that they don't feel comfortable with the property. When I addressed him on the delay of the decision he then tried to bring up our personal qualification. I then checked him on that information because we were qualified and that was also further confirmed by XXXX and her branch manager and the only issue they were waiting on to proceed was the law suit. He then backed up and brought up that buyers dont care that banks are not able to sell loans or make money from loans due to not having the appropriate documentation but how is this now an issue. The contracted price is {$330000.00} on a house appraised for {$360000.00} before the repairs that are financed in with an ARV of {$390000.00}. In addition, they are servicers of loans and will already recoup their money from the rate they are charging. Once it became apparent that their decision does not sit well with me he advised that he was just handed this and that he won't put his license on the line for this loan and will forward to the company 's attorneys to send me documentation of their denial. Please note that this file has been with them since XXXX. I had to reach out to their VP of XXXX XXXX in order to get a call back after days of no response. I had to go on their XXXX page to get a phone number for the branch manager who thus advised me that because it is a FHA XXXX XXXX and all the moving parts they are not comfortable with it nor have the experience with it so therefore why even offer that product. 

NOTE THAT on XXXX the title committment was sent indicating on page 2 of the cross colateral lien. File had already been to underwriting three times since then.

Company response to consumer: Closed with explanation