Consumer complaint received 2020-04-23
Company: SOUTHWEST FUNDING, LP
State: TN
Product: Mortgage
Sub-product: FHA mortgage
Issue: Closing on a mortgage

Complaint:
I have a loan in process with Southwest funding and want to contact someone to see if I may get some form of assistance. The process has been absolutely horrific. I am a sales manager for one of the largest mortgage companies in the industry and I must say I completely regret choosing southwest funding. XXXX XXXX has been handling my loan and it has been an absolute disaster from day one. I chose southwest funding on a referral from a friend I needed to be able to do a high debt-to-income ratio FHA loan and my company does not do them. 

At first it seemed as if XXXX would work hard for me but then it all changed once in process. I told her numerous times how the loan needed to be setup. I explained I was purchasing a house and my mother would be a non-occupying co-borrower. I explained that we were relocating from XXXX to XXXX and that we would need to payoff my car at closing to qualify. The down payment money was to come from a gift from my fianc from the sale of our previous residence in XXXX. 

XXXX first setup the loan as my mother and myself as both occupying the home. She asked me for the same paystubs no less than 4 times. She explained weeks into process we couldnt put the car loan as paid at close on the CD and not upfront. She has asked numerous times for other documents and how I would pay things off that were explained time and time again. It was as if she wouldnt slow down and listen to do her job correct in the first place. There have also been numerous times Ive tried to contact her in the morning but dont end up reaching her until afternoon because she tells me she was up all night working and slept till noon. 

Being less than impressed I continued as I needed a new residence. My home that I am purchasing apparently had someone try to purchase with an FHA loan before me as it had a case number and appraisal assigned to it. XXXX XXXX  had this and it was an absolute nightmare to get transferred over. They asked for the appraisal to be paid for and XXXX has them mail a check which took a week to be delivered and blew the first closing date. The check should have been over-nighted like she told me that it would be. 

Once we got the appraisal and a new closing date I find out that she once again didnt setup the file correctly as she told me the underwriter reviewed for final approval but didnt have the paystubs they needed once again and also didnt have the XXXX from my fiancs sale which I had supplied to her as well. The underwriter also apparently couldnt figure out how I paid the car off despite me having shown the car loan being paid from my XXXX XXXX XXXX  account to my XXXX account as I had told XXXX I would. Turns out XXXX somehow has told the underwriter I paid it from a XXXX account. How that delay and mistake could happen when she literally had the bank statements that show it being paid from the first state bank account and an explanation of how I paid it is beyond me. It is clear and utter incompetence on her part. She also asked me to log into my XXXX account for me to try to find proof. That is illegal, she is not allowed to be logging into clients accounts. They did manage to get a Prelim CD out in time but only after they messed up the purchase price twice and couldnt figure out why the cd didnt balance with title. They managed to get the CD figured out literally minutes before the title company as closing or else this would have delayed my closing for a second time. 

At this point I was told the underwriter would re-review the file first thing this morning now that XXXX realized that she already the documents that were asked for. Well at XXXX eastern Today I received a message from XXXX that the underwriter is not in at work today and she can not find someone to review. I need someone to please get an underwriter to review this file today so that I can close tomorrow XX/XX/24. I have appliances and XXXX being delivered tomorrow. If the XXXX are not delivered tomorrow I will have to pay XXXX for another month of storage on the XXXX. There is zero reason I should be forced to pay additional money or be without a place to live because of the incompetence of southwest funding employees. Please help assist and get this loan reviewed today so I can close tomorrow. This has been ridiculous and I plan on making a complaint with the Consumer Financial Protection Bureau.

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