Consumer complaint received 2021-09-23
Company: ZIONS BANCORPORATION
State: TX
Product: Mortgage
Sub-product: FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
On XX/XX/2021, I applied for a mortgage loan thru XXXX XXXX with Amegy bank under the name XXXX XXXX. My name is now XXXX XXXX. I was going thru a home buying program called XXXX XXXX XXXX XXXX and Mr. XXXX is one of only three mortgage lenders the program works with. The home buying program offers grants ranging from $ XXXX to $ XXXX depending on the area you want to buy or build your home. The same day I applied, Mr. XXXX ' assistant, XXXX XXXX, asked me for all the necessary documentation and I emailed it that day. The very next day we were denied. I was given reasons that are not true and do not make sense. I was denied for excessive obligations which I do not have. I asked Mr. XXXX and his assistant both to elaborate on that decision and they wouldn't. I was also denied for insufficient income given the loan amount I requested. I was told to put any loan request amount that it didn't matter and would change eventually but they denied me based on what they told me to do. I was denied for not having enough down payment. Mr. XXXX and his assistant both knew I was going thru the home buying program and would have gotten that financial assistance of either $ XXXX or $ XXXX. I was also using my housing choice voucher toward the purchase which gave me even more income to use to add to mine and my boyfriend 's. I asked them to elaborate on all three reasons and prove those decisions to me but they refused. I was preapproved through another lender earlier this year for {$110000.00}. If I could have used that lender I would have but he didn't participate in the XXXX XXXX XXXX XXXX program. I was misled in thinking that I was going thru with the application even after we'd been denied. XX/XX/XXXX, I was denied. XX/XX/XXXX the letter was mailed out but I didn't receive it until XX/XX/2021. Ms. XXXX and I were still talking about my application process up until XX/XX/2021 making me believe, or misleading me rather, that it was still in process. She even told me on XX/XX/XXXX that my boyfriend who is a co-applicant, had medical bills in collections that needed to be paid and that we had to pay them so we could go forward with the application. I paid those medical bills on XX/XX/XXXX and let her know that via email on the XXXX. I never heard another word from her or Mr. XXXX. They didn't respond to any of my emails or phone calls. I felt very mislead. If I'd of known that our application had been denied on XX/XX/XXXX I would not have paid those medical bills on XX/XX/XXXX like she told me I had to do. We could have had a choice and not paid those medical bills at that time so I feel we wasted {$320.00} that we could have held onto. I feel they owe us that money back telling me to pay those bills after our application had already been denied. I received two denial letters from Mr. XXXX. One dated XX/XX/2021 and the other, XX/XX/XXXX. I don't know why I got two denial letters. I'm including emails showing dates where Ms. XXXX and I were still communicating after we'd been denied along with both denial letters and anything else I feel might be pertinent. I've also included my most recent preapproval from the original lender I was preapproved from already except this time a higher amount than the first time. $ XXXX more. 


NOTE : I INITIALLY APPLIED WITH A LENDER NAMED XXXX XXXX AT AMEGY IN XXXX XXXX, TX. THE XXXX XXXX PROGRAM DID NOT TELL ME AT FIRST THAT THEY ONLY WORKED WITH ONE LENDER, THAT LENDER BEING MR. XXXX. I HAD PROBLEMS WITH THE APPLICATION WITH MS. XXXX SO I STOPPED WELL BEFORE I EVEN FINISHED IT. SHE DIDN'T EVEN KNOW ABOUT THE HOME BUYING PROGRAM AND WHEN SHE FOUND OUT MR. XXXX WAS THE LENDER WHO DID THOSE LOANS, SHE SENT MY INCOMPLETE APPLICATION TO HIM.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation