Consumer complaint received 2022-04-26
Company: Lennar Financial Services, LLC
State: TX
Product: Mortgage
Sub-product: FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
On XX/XX/XXXX I viewed and signed an agreement to purchase a home in the neighborhood of XXXX with Lennar. On my agreement it stated my date of close was estimated to be XX/XX/XXXX. I was told there had been a delay due to the power not being on in the section the home was in. And that there was a chance of a possible additional delay, but that it should be worked out soon. I chose to work with the builder lender as I would receive an incentive to do so. 
After the first delay in XXXX we inquired about my interest rate. I was told their standard was to lock in a rate once you are 30-60 days away from close. However my rate was not locked because the power wasnt on. Again I was told the power should be on soon and to just wait. In XXXX the date was pushed again. At this point I asked again if I could lock my rate. I was offered a very expensive lock in program that would hold me to having to close in XXXX. They stated that locking in would be good as they believed it would be worked out far before XXXX. However if I didnt close by the date in XXXX I would have to pay {$500.00} a week to extend and once it was locked Id be required to extend. So out of safety to not end up paying an extreme amount due to their delays I opted to not lock. 
Come to XXXX, the power is still not on. It has been pushed a XXXX time. I wont close by XXXX. So thank goodness I didnt accept their expensive offer to lock. I believe with the interest rates as high as they are now I may not qualify for the home. I asked them to please run the numbers to see if I even still qualify for the home and they have refused. I cant get my earnesXXXX money back because the contract states the lender has to say that I dont qualify. They refuse to do that. So I am stuck waiting for the power to come on who knows when to just have them say I dont qualify. In the meantime I have lost the opportunity to get into another home at an interest rate that would be doable for me. This is not the first time theyve done this to me. My fianc, my friend and I started looking at Lennar around XX/XX/XXXX. We found a lot, signed a contract and started getting the XXXX XXXX home we wanted built in XXXXXXXX XXXX in the XXXX XXXX subdivision. The lender ( Lennar Mortgage previously Eagle Mortgage ) at the time pre-approved us and asked us to pay down credit cards, sell my home in XXXX XXXX and move to XXXX or surrounding area and get jobs here in order to get qualified for the loan. I sold my home of XXXX  years, quit my job ( so did my friend ), packed up our lives and moved to XXXX on XX/XX/XXXX. We were able to stay with my fiancs brother, lucky he let us stay with him. We get jobs and paid of credits cards, we did what was asked of us. Fast forward to the end of XX/XX/XXXX, the loan officer ( XXXX ) with Lennar mortgage contacts me, doesnt have a clue about how much money we have already paid on upgrades ( {$13000.00} ), earnest money ( {$5000.00} ) or the actual amount of the home. She then tells us we need to pay off more credit cards and she would see if we would even qualified for the home. She calls us after all is said and done to tell us that we can not get the loan. They gave us our {$5000.00} back but not the {$13000.00}. My fianc, my friend and I are all hard working XXXX XXXX, we took money out of our retirement funds to pay the XXXXXXXX XXXX and our debit they wanted us to pay. This is not right and they shouldve returned all of our money. I have tried to contact XXXX XXXX, management at Lennar, and he never returned my calls or emails. We really want to purchase the home. This is our dream home.

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