Consumer complaint received 2020-04-08
Company: NAVY FEDERAL CREDIT UNION
State: SC
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
Our Navy Federal Credit Union Mortgage Loan Processor has maintained absolutely no forms of communication during our mortgage loan process. We have had to chase our Loan Processor for updates and to see if anything is needed. We kept a log as well as Navy 's mortgage phone team employees noted our account every time we called. Just like the complaint made to the XXXX   on XX/XX/19 by another member, we too experience Navy Federal Credit Union 's employees ' inability to meet dates that were verbal or written ( email ). After several attempts to reach our Loan Processor, we contact the phone team who was able to get our Loan Processor on the call with us on XX/XX/XXXX. Our Loan Processor assured us that every looked good and we were on track for XX/XX/XXXX close date. On Monday, XX/XX/XXXX we called our Loan Processor to see when we can expect our clear to close because our closing attorney had scheduled our closing appointment for this Friday, XX/XX/XXXX XXXX. That is when our Loan Processor decided to kill our joy by telling us that we have an underwriting issue. As my heart drop and I brace to hear what the issue was, she tells us that our DTI is too low and they can't use my husband 's overtime because he hasn't been on his job exactly 2 years but will be in 4 weeks. Wait, excuse me. Our DTI was where it currently is during the first time Navy Federal Credit Union hard pulled our credit reports XX/XX/XXXX for a pre-approval then did another hard pull on our credit reports less than 24 hours later on XX/XX/XXXX. Furthermore, our DTI was the same on XX/XX/XXXX when they did a soft pull on our credit reports. Originally, we were set to close on a different house XX/XX/XXXX but the Seller refuse to took care of the requested repairs so that contract was void. By grace, we found another home way cheaper that we loved and went into contract a few days later. Everything was moving smoothly, communication was good until our paperwork was handed to our Loan Processor. Now here we are 3 days before closing and being told we have a problem that should have been brought up weeks ago. EVERYTHING that was requested was provided weeks ago ; even our appraisal was completed and approved by XX/XX/XXXX. I contacted my student loan provider who corrected my repayment plan to the level plan payment which takes 3 days or so for letter to be generated to my email, which would have been done weeks ago if this was brought to our attention in a timely manner. I spoke with a manager at XXXX XXXX who tried calling our Loan Processor on conference so she could verify my correct payment plan info with our Loan Processor/underwriter while waiting for the letter to generated. Of course, when we call, we got no answer. Our daughter keeps asking about colors her dad can paint her new bedroom this weekend and we choke trying to give a hopefully response. At this point we have no idea what to expect from the last communication was with Navy Federal Credit Union 's mortgage phone team member XXXX who emailed our Loan Processor to advise we're once again unable to reach her. She advised the gentleman to tell us our paperwork will be forwarded back to our Loan Officer who will contact us tomorrow. SERIOUSLY! In my over 10 years in banking I have NEVER pass the buck on any of my customers. I have ALWAYS taken ownership of whatever challenges placed on my desk. This is truly a nightmare. This Friday is supposed to be our closing date and it doesn't appear we will meet it because of our mortgage lender. Our lease is up this month and the new tenant is due to move into the house we're renting XX/XX/XXXX. Not only must we continue to be concerned about protecting our children during the Covid-19 pandemic, we now have to be concerned about rather or not we will have a home for our children. This isn't an isolated issue. We're learning the reviews and XXXX   complaints are true for we are currently living those same nightmares.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation