Consumer complaint received 2017-01-10
Company: CAPITAL ONE FINANCIAL CORPORATION
State: VA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Credit decision / Underwriting

Complaint:
I received a promotional offer in the mail XXXX XXXX regarding {$2000.00} toward closing costs if I refinanced my mortgage. I contacted Capital One and spoke to XXXX who took my application, he said it was approved but contingent upon my second car loan being paid off prior to closing. I promptly submitted the requested documents via email to XXXX over the next several days. I then received an email from XXXX saying she was the processor and she requested more information which I also sent via email. My original closing date was XXXX/XXXX/XXXX. I submitted the proof to XXXX that the second car loan had been traded in and was being paid off. I then received a follow up email from XXXX saying that was not sufficient, and my closing date was pushed back I only was made aware of this by checking XXXX XXXX. From there, XXXX and XXXX both requested the same information in which I had already submitted previously as if they had lost it. It was be days sometimes between them communicating with me. My closing date has been moved at least 5 times since then. XXXX explained my DTI was too high even after the car loan was paid off. Which I do n't understand, as my debt has n't changed since the initial application. He asked if I had retirement funds, in which I responded yes and gave him the balance. He never responded. I also sent him another communication letting him now my salary increased effective XXXX/XXXX/XXXX he said that information would not be necessary as long as the car loan was showing paid in full and I had to show a payoff letter, which I provided the next day. I was then told weeks later only AFTER I inquired about my mortgage still not being paid off that my loan was being denied due to DTI and I would need XXXX to close. I asked if my new salary would make a difference, XXXX said yes and then asked me to send in proof of my new salary and an email explaining the difference between my court ordered child support and the arrearage ( which I had already done several times before ). I still had not heard anything from him until he informed me last week XXXX XXXX XXXX XXXX that my loan had bee approved. I emailed him back asking why the loan amount had increased and if it included the XXXX they were supposed to be paying toward closing costs, I still have yet to receive a response. Capital One also pulled my credit again, which caused my score to drop XXXX points. Had they not dropped the ball months ago, my loan should have closed already ceasing the need to pull my credit again. The APR has also changed, and I understand rates change, however if I had closed on time this would n't be an issue. I have done everything I 've been asked to, yet Capital One has consistently dropped the ball. I complained to a level of management XXXX XXXX ( in XXXX ) via email and he did n't have the courtesy to respond. I am supposed to close XXXX and still do not know why my loan amount went up XXXX when I now owe less on my home and still have no explanation regarding closing costs. I have called into their mortgage contact center before and was told I 'd have to speak to my loan officer, one time I held over 40 minutes. My loan officer is not responsive, and I do n't feel comfortable with refinancing if no one can properly explain the new terms of the loan. I am just completely disgusted with this company and expected more from such a large corporation.

Company response to consumer: Closed with explanation