Consumer complaint received 2022-09-12
Company: LAKEVIEW LOAN SERVICING, LLC
State: FL
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
On XX/XX/22, I contacted Lakeview Mortgage company requesting to apply for a home equity loan. The agent that answered began to collect my information as part of the application process, and also sent me an email in which I had to consent for electronic delivery. Once we got to the portion of the application involving income, I explained to the agent that I was recently self employed, and provided my business information. The agent abruptly advised that in order to utilize my business income, I would need to provide two years of income tax returns. I explained that my business hadnt been established long enough to have two years of tax documents, however I did file my taxes with my corporate job for the last two years. The agent then advised that I would have a hard time getting qualified for a home equity loan, and ended the application process. I explained that my husband does work, and could be a co-applicant on the loan since he could provide the necessary tax documentation. I also advised that I was concerned, as my husband did have a bankruptcy on his credit, and wasnt sure how that would impact our approval odds. The agent then stated that he didnt think we would qualify with a bankruptcy on my husbands credit, and would not accept any of his information. The agent ended the application and stated he would reach out to underwriting for clarification, and call me back later in the day with a response. Needless to say, the agent never called me back. The following morning I called the agent back to follow up on the application, and to find out why he did not call back as promised. The agent proceeded to tell me that he was still waiting for a response from underwriting, which is why he didnt call me back with an update. I then advised him that, there are laws in place for companies that prohibits agents from discouraging applicants to apply, and for declining to accept an application. The agent told me that hes been doing his job for 20+ years, and was doing me a favor by not submitting the application in which he knew wouldnt be approved. He stated that there was no need for me to get a ding on my credit for no reason!! I promptly asked to speak with his supervisor, in which he provided me with her phone number. When she called me back, she simply stated that she would provide this information to her team, and apologized. At no point did she ask who I spoke with, my loan number information, or offer to complete the application. Makes me wonder how she would address the agent I was dealing with when she didnt bother to ask any information about him. Ive worked in the banking industry for many years, and know for a fact that the actions of the agent could fall under discrimination, and violate the equal credit opportunity act. To this day, Ive not heard back from the agent, and my application still has not been submitted.

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