Consumer complaint received 2023-08-08
Company: WESTERN ALLIANCE BANCORPORATION
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
I have three mortgage accounts with Western Alliance Bank ( WAB ) with the following property addresses and loan numbers. 
1. XXXX XXXX XXXX, XXXX, CA XXXX ( Loan # : XXXX ) XXXX. XXXX XXXX XXXX, XXXX, CA XXXX ( Loan # : XXXX ) XXXX. XXXX XXXX XXXX XXXX XXXX, CA XXXX ( Loan # : XXXX ) I received two letters from informing me that the loss mitigation applications for the first and second properties are rejected because the investor has not approved the forbearance plan, repayment plan and payment deferral. ( see attached of both letters ). Prior to receiving these letters, WAB agent called me on XX/XX/XXXX and informed me that the third loan ( XXXX XXXX ) was approved for forbearance plan on the month on XXXX, XXXX and XX/XX/XXXX. On XX/XX/XXXX, I received another phone call from XXXX, one of the assigned agent for one of loss mitigation applications that all loss mitigation applications for all three loans are rejected and I should be receiving the denial letters. I informed him about the phone call on XX/XX/XXXX informing me the forbearance approval on XXXX XXXX and he said that the agent was incorrect. I also asked several WAB agent whether my loan is XXXX XXXXbacked loan and the investor is XXXX XXXX XXXX I received different answers that the investor of my loan was WAB or XXXX ( loan Held for Investment ). I explained to the WAB agents that five other conventional loans ( XXXX XXXX-backed loans ) that I hold are approved for mortgage forbearance already from other loan servicing companies, such as XXXX XXXX and XXXX XXXX XXXX XXXX ( See attached forebearance approval letters from both companies ). All the loss mitigation applications that I submitted to WAB, XXXX XXXX and XXXX XXXX, XXXX were based on identical reasonings shown on the hardship letter, such as unemployment, settlement agreement paid out to tenant in XXXX XXXX XXXX, XXXX XXXX, CA XXXX, and flooding disaster on the property located on XXXX XXXX XXXX XXXX, XXXX, CA XXXX ( see the attached hardship letter ). In addition, all these properties serviced by WAB, XXXX XXXX and XXXX XXXX, XXXX are investment properties. Nevertheless, the agent kept mentioning to me that the investors rejected the loss mitigation applications. 

I finally requested the supervisor to call me back to explain the outcome and clarified the loan types and investors. I received a phone call from the supervisor on XX/XX/XXXX, who finally clarified that all loans are XXXX XXXX loan. She also informed me that all the denial letters for all three loans will be uploaded on the loan portals. I never received the denial letters on the client portals, but on the mail on XX/XX/XXXX and XX/XX/XXXX for the first and second loans, respectively. Thus far, the denial letters for the 3rd loan has not been received in the mail. I believe that my loss mitigation applications reviewed by WAB have not been properly evaluated according to the XXXX guidelines .

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