Consumer complaint received 2020-09-29
Company: Secure One Capital Corporation
State: CO
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
On XX/XX/2020 I responded by phone to a letter that I received inviting me to apply for a refinance of my mortgage with the possibility of cash out. I spoke to a Loan Specialist on the phone and thus began my application to Secure One Capital for a refinance with cash out. 
I did begin an email exchange with this Loan Specialist on XX/XX/2020. We continued to exchange information and I did send all the requested information to the specialist tax documents, bank statements, P & Ls, etc. I then did not hear back from the Loan Specialist from about XX/XX/XXXX XX/XX/XXXX. I was afraid that I had given all of my personal information to a fraudulent company, as I was not receiving any response via email nor telephone. 
I sent a complaint to The XXXX XXXX XXXX in early XXXX stating my fears, and received a call immediately from the loan specialist. He stated that if I would remove the complaint to The XXXX XXXX XXXX, he would be willing to work with me on the refinance. I did resolve the complaint with The XXXX. On the XXXX of XXXX, I received an email from Secure One Capital stating that they would work on my loan and have the process resolved within 30 days. 
I began this process with the loan specialist on XX/XX/2020. I have minimally, 20 email exchanges and over 10 phone calls to various personnel at Secure One Capital over this time. I provided absolutely everything they requested from me within the very  first 10 days of communicating with him. I have since responded to every request promptly and have signed all of the disclosure and loan documents sent to me. The loan specialist and his associates have had all the same information from me for many months now. My information has not changed since I began this process. They continue to ask for the same information over and over again, as though the team can not seem to keep track of what Ive already sent ... 
On XX/XX/XXXX, after sending several emails and getting no response, I was told by the Loan Specialist that they were just awaiting a forbearance footnote to be removed from my credit report. I did have that removed immediately and reported it back to Secure One Capital with a copy of the letter from my current mortgage company. I was then sent several electronic mortgage documents to sign, which I immediately did on XX/XX/XXXX. 
On XX/XX/2020 I received a message from XXXX XXXX stating that I had been approved. I also spoke to the Loan Specialist on the phone, on or around that day, and he told me the same thing, that we had been approved After sending several emails to the Loan Specialist between XX/XX/XXXX and XX/XX/XXXX, I finally received an email from the Loan Specialist that they were awaiting the final clear to close. When I asked him why he had told me we were approved, when it seemed now that we werent completely approved, he responded by saying, No worries, it will all be fine. Just final details On XX/XX/XXXX, I received an email from one of the underwriters that stated that the file was in processing I asked the Loan Specialist if I should continue to pay the XXXX payments on my current mortgage and Heloc, as it seemed we were in the process of closing and I didnt want to make any missteps. He told me to go ahead and make the payments, so that I wasnt stressed out about it. 
On XX/XX/XXXX, I received the electronic Closing Disclosure documents, which I immediately signed and returned. 
On XX/XX/XXXX I emailed the Loan Specialist asking for an update, as I hadnt heard anything from him for about a week. I did not receive a response, so I sent another email on XX/XX/XXXX stating that I didnt understand why the process was taking so long, after having been promised resolution by XX/XX/XXXX. I did receive a response saying that the loan had been submitted for final approval and I should receive a determination within 72 hours. I didnt understand why we were still in the approval process when I had already been told twice, by two different people, that we were already approved. 
I did not receive any response within the 72 hour window, as promised, so I sent another email on XX/XX/XXXX to see what the issue was. During this window of time, I was called by XXXX XXXX XXXX to speak with them and my HELOC and mortgage companies on the phone for permission to release information to them for Secure One Capital. I was on the phone with XXXX XXXX and XXXX XXXX. The XXXX XXXX stated emphatically that I had a good record with them, that I was completely up to date on my payments and had not missed any payments going back at least four years ( I have never missed a payment, ever ). 
On XX/XX/XXXX, I was forwarded some emails from the underwriters from XX/XX/XXXX, that stated that I had missed payments on my mortgage. I relayed to them that I had not and that XXXX XXXX had already confirmed that for them on the phone. I sent Secure One Capital my history of payment from XXXX XXXX, all of my bank statements and copies of the checks to prove that I had made the payments. I also called XXXX XXXX and asked them what this could be about, and they could find no record of any sort. I could not find this information on any of my credit reports. I also called XXXX XXXX to see if they could figure it out, as the information seems to have come from them. The representative told me is sounded like a system error on the part of Secure One Capital and that they should run those reports again. I did relay this information to the Secure One Capital and received no response. 
After sending several more emails, I finally received a response on XX/XX/XXXX from the Loan Specialist, asking me to contact the underwriter directly, as he couldnt get a response from her either. I did that on XX/XX/XXXX. On XX/XX/XXXX, I was asked again, to provide statements, payment history, and proof of payment for my XXXX and XXXX mortgage payments. I immediately responded with all the information asked for. 
I received no response from anyone at Secure Capital between XX/XX/XXXX and XX/XX/XXXX, when I sent yet another email to The Loan Specialist stating that after 4 months of this process, I felt like they were ignoring me and werent going to move my refinance forward. I told him I didnt understand why and that I was going to try to communicate with someone at a higher level within the company. On XX/XX/XXXX, I sent an email to XXXX, who had initially told me on XX/XX/XXXX that my refinance would be resolved within 30 days, and to XXXX who is the customer service manager, and someone named XXXX XXXX whom the Loan Specialist suggested I reach out to. I outlined the issues with the 4 months of this process, the lack of communication and the fact that they had incorrect information about my current mortgage payment history. I also left them both phone messages on that day. I did not receive any type of response from either of them. 
On XX/XX/XXXX, I reached our again to the Loan Specialist as well as 9 other folks from Secure One that had been working on my loan and explained, once more, that I had no negative marks on my credit report and that XXXX XXXX had assured me that they had not made any negative remarks either. The XXXX XXXX representative had further informed me that under The Cares Act, my forbearance should not be appearing on any type of credit report, by law, whether I had missed payment or not ( which I hadnt ). I did not receive any response from any of them. 
On XX/XX/XXXX, I received a letter from my homeowners insurance indicating that Secure One Capital had been named as my new First Mortgagee. This would have been initiated by Secure One Capital, as it was not initiated by me. I sent a copy of this notice via email to XXXX, the Human Resources Manager, stating that I was uncertain as to what to do about this information. I asked him to respond and let me know if I should contact my insurance company to have this removed, or was this an indication that my Secure One refinance was going through. He has never responded to this email. 
On XX/XX/XXXX, I reached out to XXXX, the Human Resources Manager again and he did respond via email saying that he would take a look at my file that afternoon and get back to me. I did not receive any further response from XXXX, so I reached out to him again on XX/XX/XXXX. I receive an out of office reply from XXXX via email stating that he would be back in the office on XX/XX/XXXX, which I figured was an error on his part due to the fact that it was already XX/XX/XXXX, and was expecting a response to no avail. I reached out again on the XXXX to let him know that I was assuming that Secure One Capital was no longer interested in working with me and that I was about to file a report with the XXXX XXXX XXXX, The Fair Housing Act, and The Cares Act, as I feel that Secure One Capital may be in violation of all three at this point. 
I finally received a response from XXXX on XX/XX/XXXX, relaying that he had been out of town due to his mother being in the XXXX XXXX XXXX XXXX XXXX ( I responded with empathy, even though I believe this to be inappropriate information to share with a client and quite irrelevant to my case ). He stated that I was high on his priority list, and that he would review my case later that day or in the morning of the next day. I also stated that he had asked me to have the forbearance status removed from my credit history from a previous email, and that I had done that back on XX/XX/XXXX, already. His email reply was to tell me that he had a face to face doctors appointment that afternoon He also promised me that he would take a look at my file in the morning. 
I did send a draft copy of this letter to XXXX via email on XX/XX/XXXX, and copied The Loan Specialist as well. I have also asked them to respond to the home owners insurance letter from XX/XX/XXXX. As I write this letter, it is now the XXXX of XXXX, and I have not heard back from XXXX, nor received any information about the insurance letter. 
This is an indication to me that Secure One Capital has not kept track of all the information that I have sent them indicating that I am clear for approval of this loan. I have taken every step theyve asked for to date, and I am currently denied, without cause. It would appear that all of the Secure One Capital staff that have worked on my loan, have not been sharing information or keeping up to date with the latest information that I have supplied to them. 
So to sum up, I began this process on XX/XX/XXXX via a phone call to Secure One Capital. I provided them with all the information they have asked for promptly. They found an error in their system, which told them I missed a mortgage payment while in forbearance for 2 months. I did not and have proven that to them. They will not tell me where they are finding this information nor affording anyone the opportunity to have it corrected. Furthermore, it is against The Cares Act for them to even have that information much less act on it, and I did not miss any payments during that time. Additionally, the forbearance was removed from my credit history. They just sent me a denial email, stating that I did not qualify due to the missed payments. No one will help fix the error and no one will communicate with me, except to say that I am denied due to a faulty report and that is final. 
Again, it is now XX/XX/XXXX, and I have no refinance. I put my faith in Secure One Capital and have waited many months to no avail. I could have been pursuing other refinance options during this time, but was assured by The Loan Specialist that Secure One Capital would work for me. That all said, I do realize the pandemic has caused  delays, but Im feeling like 4+ months has been plenty of time Im beginning to think there may be some gender and/or XXXX bias at play here, as I can not think of any other reason that I have been treated in this manner ... 
Under the Fair Lending Act, I understand that the lender is supposed to work with me on any disparate issues so that we may resolve them. This has not been the case here with Secure One Capital, as I have asked repeatedly where the error in the information is coming from and no one at Secure One Capital will tell me. This is not fair to me, as they are not providing me with an opportunity to have that information corrected. Furthermore, it would appear that Secure One Capital is no willing to re-run those reports to see if, in fact, it is their system error as XXXX  XXXX suggested over a month ago.

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