Consumer complaint received 2021-07-20
Company: Long & Foster Financial Services, Inc.
State: GA
Product: Mortgage
Sub-product: VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I applied for a loan with XXXX XXXX # XXXX at XXXX Mortgage on or about XXXXXXXX XXXX. After submitting my tax documents, VA Benefits, ID, Social Security Number and other requested documents, I received a pre-approval letter. Yet after several bids for a home were unsuccessful, I decided to change my approach by getting a more seasoned real estate agent and utilizes the down payment assistant programs ( XXXX  ) that XXXX offered which provided up to 4 % downpayment assistance and since I was using my VA loan ( 100 % financing ) I was told I could use the downpayment for my closing cost. Yet after having an extensive conversation with both my new agent and XXXX XXXX, to confirm I could use the XXXX downpayment assistance to cover my closing cost, I put an offer on a house on XX/XX/XXXX only to be told once the offer was accepted that Prosperity Mortgage no longer worked with XXXX as of XX/XX/XXXX, for various reasons but as a concession he could raise my interest rate to give me a credit that would cover my closing cost. While, I was very disappointed in XXXX XXXX 's lack of company knowledge, I merely voiced my concerns on how I didn't like surprises and given we had just had an extensive conversation on XX/XX/XXXX, to confirm I could use the program, I pushed through because after looking for a house for over 3 months and being outbid on multiple properties, I was overwhelmed and tired of looking. Here 's why I am reaching out, shortly after expressing my concerns to XXXX XXXX, our business relationship took a turn for the worst. My loan went to the underwriter, but prior to that I had some issues with the IRS, due to Covid-19, my amended taxes had not been processed, for which XXXX XXXX, instructed me to contact the IRS to set up a payment plan, because my amended taxes reflected a balance, but my transcripts reflected a XXXX balance. After many conversation with the IRS and XXXX XXXX, I was able to get a XXXX Installment agreement, yet after submitting the document to XXXX XXXX, he quit the company, and I was informed by his superiors that my loan was denied because they were not able to verify my income with the IRS. I was also told by his supervisor XXXX XXXX XXXX XXXX, that a payment plan would have never been sufficient if the IRS hadn't processed the amended taxes and updated it in their system. Subsequently, I lost earnest money, pool and home inspection money because XXXX XXXX was unethical in his XXXX XXXX to get a deal done. While, I would love to be a homeowner again, if XXXX XXXX would have been upfront and honest, like other loan officers I spoke to after being denied, I would have respectfully waited until the IRS had my amended taxes updated and reported on my transcript. While, I am not 100 percent sure, but given my first real estate agent who I fired due to her lack of experience, referred me to XXXX XXXX. I sincerely feel they were in XXXX and equally unethical by not advising me, my loan was never going to be approved without the IRS reflecting my amended income. Lastly, I would like to add, the home buying process is hard enough in this market but with unethical, uninformed, money hungry loan officers makes it even harder. I trust this message was detailed enough and will help you make the best decision in reprimanding XXXX XXXX, as I see it, anyone who would be as malicious and unprofessional as XXXX XXXX should not be licensed to work. 
Thank you for your attention to this matter, XXXX XXXX

Company response to consumer: Closed with explanation