Consumer complaint received 2021-03-03
Company: FC LENDING, LTD.
State: TX
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
XX/XX/XXXX - Signed original Contract and referred to XXXX XXXX XXXX XXXX XXXX XX/XX/XXXX - Applied for Home Loan received confirmation back accepted at XXXX XX/XX/XXXX - Contacted FC XXXX - received message back loan officer would call me back. 
XX/XX/XXXX - Contacted again at XXXX  - advised I tried to send docs XX/XX/XXXX - message again would call me back XX/XX/XXXX - no reply as of yet so I texted her again advising I was checking in. 
XX/XX/XXXX - XXXX  Hello XXXX, hope you doing well and feel much better. 
When should get together - I know I need to get XXXX a preapproval asap? Let me know if I need to get you anything else. 

XX/XX/XXXX - Received email from XXXX at XXXX  - Ok so we are now waiting on the XXXX XXXXf XXXX XXXX to confirm which is correct the Plat Map we have from the XXXX XXXX or the survey that was done by the survey company. I think we will be fine I have never seen a survey cut the lot build line like this one that came back. We should hear back today or Monday the latest my project coordinator said XX/XX/XXXX - received first plan so she could send preapproval Lot changed and address due to home not fitting on the original lot XX/XX/XXXX - XXXX  sent a text message to XXXX and advised I sent an email - Hi XXXX its XXXX, I sent you an email but yes we are working on very hard on our credit some of those will get removed and others will be paid off. We are getting new flooring installed once that is completed and some other cosmetic items we are selling this home and using that money to pay off needed items. 
I know you said you could do some stuff as well but last time we talked you did not say anything about it. Hope we will be fine, we are probably 8months our for completion. I know everything will be almost perfect by the time closing comes. 
XXXX are we safe to go out and meet XXXX to do our paperwork on the new lot? 

XX/XX/XXXX - received email at XXXX  needed approval letter Hi XXXX, XXXX, and XXXX - Since the original contract was written on XX/XX/XXXX we are past our 30 days to get the approval letter from you. XXXX is asking me for it so I want to make sure I can get it this week as I am transferring the XXXX to a new lot. 
We changed lots and had to set a time to go in and sign a new contract. 
XX/XX/XXXX - XXXX replied back at XXXX  - Hi XXXX, XXXX, and XXXX, I am just waiting on confirmation from the XXXX to make sure they can achieve the credit plan I sent on Friday. 
XX/XX/XXXX - We responded back at XXXX  - Yes we are working nonstop on all this, I tried to call you XXXX. 
XX/XX/XXXX - Response received at XXXX  Thank you so much XXXX! I am sorry I missed you, I am on a conference call. I can call you once I get done. 
XX/XX/XXXX - XXXX  XXXX responded with Okay great thank you. 
XX/XX/XXXX - XXXX - To XXXX and XXXX - Hello XXXX, we are 100 percent confident we can get this done, please let us know if we are okay to sign for the new lot, XXXX XXXX XXXX XX/XX/XXXX - XXXX - XXXX sent me and XXXX - As long as you are 100 % confident to be able to achieve this plan, you are good to proceed with XXXX XX/XX/XXXX - XXXX XXXX  - I responded to XXXX 100! 
All other conversation is in the email documents I have sorted by months. 
Concerning XXXX XXXX, We are in a very sad and difficult situation, a house we have been under contract for over six months, since XX/XX/XXXX is being cancelled due to failure to get a loan approval. 
We have done everything that has been asked of us and met all preapproval loan conditions. We were told we even had to have this conditional approval before any design consultations, signing of recons, and preconstruction meetings. 
We had our last meeting which was our preconstruction meeting on XX/XX/XXXX, we had to sign again another contract revision and we were all set we thought, that was on XX/XX/XXXX. 
On XX/XX/XXXX I received an email from XXXX XXXX, the lender asking if we were available for a call at XXXX  on XX/XX/XXXX. I did not see the email until the following day and thought it was odd, that there was no explanation just a random email. I emailed back and asked if there was a problem and after we kept playing tag we finally spoke on XX/XX/XXXX. XXXX XXXX informed us that he had no real clear direction and thought my husbands credit was moving very slow. He then went to inform us that XXXX wanted an unconditional approval, and he did not think he could provide us with any direction and would send us an email per our conversation. 
I did not understand what he meant really, and this was the first time we have ever heard of this. We thought it was odd since he had not checked any recent credit scores, pay, assets, etc. but we thought well okay I had been working with the original loan officer at FC, by the name of XXXX XXXX and I kept her contact after I tracked her down in case we ever needed her as she seemed to be knowledgeable about FC ( our file ) and was our previous loan officer we had dealt with before XXXX came in the picture, which was XXXX I believe. XXXX did not do us any diligence and we heard he doesnt get the required stuff done that he is supposed to. He pulled our credit in XXXX and advise me of some rates and we received another email later that month that we needed another preapproval again from XXXX which I thought was odd since this was already done. I guess the builder never received it, but I finally have record of it showing it was sent and a date of XX/XX/XXXX is on it. I even asked him multiple times for our credit report to see where we were so I could make sure we were on track. That should all be documented in the emails from XXXX. 
After we received the news above on XX/XX/XXXX, I had XXXX information, so I contacted her immediately and advised the situation, we reapplied with her company that evening, and she had us preapproved on the spot. XXXX credit went up way over the XXXX XXXX had stated. XXXX even tried to contact our sales counselor via phone and text, but XXXX with XXXX never responded. XXXX continued to work on our file, and we were all set. 
On XX/XX/XXXX I received a cancellation notice from XXXX due to could not get loan approval, as stated above. I emailed XXXX back and said it caught us by complete surprise and we were approved, and we still are but now with XXXX XXXX. We did not understand why any of this was happening. I again stated we had another lender working on our behalf and again approved. 
XXXX with FC Lending never informed us we would be canceled with XXXX, we thought we could use another lender. He even advised us we could in his emails from XXXX. I asked the sales counselor  if there was someone I could call at corporate and she said she would have someone call me and it would not be until the following week due to the snowstorm I guess. She also stated we had to have inside lender approval before we could get a loan with an outside lender. 
This did not sit well and so I wrote a letter to XXXX and ccd the manager of XXXX as I had his contact from a few months back due to writing a compliment about their sales counselor. I then received a call the following week from XXXX new boss, XXXX XXXX and he stated that they did not feel comfortable going forward with building our home. I said I was waiting to speak with XXXX. I explained that we were approved and had been preapproved multiple times. I am still at a loss and can not understand why this is happening. 
The conversation with XXXX is that they stated due to unconditional approval they were canceling us. They retracted that and here is where it gets good - they stated that due to no conditional approval in the first 30 days of our contract they are canceling us. They changed their reason from unconditional to conditional which we had all along. 
I have all of the emails, and texts of me trying to get a hold of someone from FC since the day after signing our original contract on XX/XX/XXXX. On XX/XX/XXXX I submitted all required document, all of our bank statements, pay stubs, W2s, everything they required was submitted with their previous loan officer, XXXX. XXXX stated she would even be able to put together a plan and would help us along the way if there are any credit issues. 
I reached out multiple times via phone, and texts even asking for our preapproval back when we originally signed our contract the first contract in XXXX. I never really got responses then even asked again on XX/XX/XXXX, urgently requesting I needed the preapproval letter for XXXX. At the time XXXX did not seem to be to demanding of it and come to find out the house we had the original contract on would not fit on the lot we chose. We then had to change lots and because of that we had to sign a new contract for the new lot with the new address. 
They used the original contract date, which was I guess to keep the promotions. Our earnest money check is dated XX/XX/XXXX in their system. The sales counselor asked for the preapproval prior to us coming out that day to sign the new contracts on XX/XX/XXXX and XXXX FC, XXXX XXXX XXXX. She was advised that it was okay to proceed by XXXX and was sent to the sales counselor. This was the preapproval conditional which is what we had all along since then. We had to contact the lending company multiple times asking for this and if they needed anything else. From what I can tell it was sent the day we were going to sign, XX/XX/XXXX or around that date. They will not provide that to me at this point. Their reason to cancel us is stated as could not get loan approve. They have retracted that and are now saying due to no loan approval within 30 days of signing the first contract we are being canceled. This is their lending company who failed us. We asked for that numerous of times and according to it was stated that we would not have been able to go this far into it we were not. Stating all those are needed to get your lot, to sign recons, go to the design center and then a preconstruction meeting. I even have the last conditional one from FC from when XXXX sent it to XXXX on XX/XX/XXXX. 
We have put in over 6 months with this company who told us they are going to build us a home. We have done all that was asked of us and we have met all conditions. We have given {$25000.00} towards our earnest money, our lot premiums, redraw fees, design consult and build options. We have sold our home we previously lived in to be ready for this one, this was our dream! 
I really think there is something way more going on here. I can not understand why they would rip this out from us and begin treating us so awful. We are shocked, we are not sleeping, and I personally am having XXXX XXXX. We are heartbroken, again this is our dream home and we wanted to retire here. We look back as they have really dragged their feet, we do not know why. I heard this is because they can sell it for so much more and builders are bullying buyers to walk away. I can not imagine a builder/lender doing this to a family, prolonging even hoping we would walk away. We have even wondered if there is something way more to it all but can not imagine what and why we are being lied to.

Company response to consumer: Closed with explanation