Consumer complaint received 2021-03-10
Company: Mr. Cooper Group Inc.
State: VA
Product: Mortgage
Sub-product: VA mortgage
Issue: Closing on a mortgage

Complaint:
I am a veteran using a VA loan that is serviced by Mr. Cooper. An XXXX XXXX service member is attempting to assume my loan, as is allowable by my mortgage contract and by law. Mr. Cooper spent three weeks lying and telling me that my loan was not assumable, and that this was only possible through death and divorce. I explained to many representatives that this was not true, and a simple look through my documents, a simple phone call to the VA, or a simple web search would have told them that I was correct. Instead they would not let me apply for an assumption and I was forced to write to the CEO with my issue. I'm not 100 % sure this was the reason I was finally sent an assumptions packet, but I was able to submit this packet to their assumptions department. After that submission, I was not spoken to again. There was no confirmation it was received, and I tried numerous times to email various departments, including the assumptions department itself and several customer service managers who assured me " they'd get back to me '', with no response. Not even an automatic reply. What kind of company completely ignores its customers like this? Finally XXXX day out of the blue, the individual assuming the loan received a call from a loan processor that he had received our packet and was working on the assumption. I still had not been contacted, and have not been provided the courtesy of a response from anyone unless it's initiated by me. Mr. Cooper then proceeded to ask for a mountain of financial paperwork, which I can understand when attempting to determine creditworthiness for the loan. After that was submitted back to underwriting, they again asked for even more information. This was provided, and when returned they needed additional information, which a. they should have requested all at one time if they consider themselves mortgage professionals and b. some of the information requested this third time is absolutely outlandish and not required according to VA underwriting requirements. The individual assuming the loan has recently gone through a divorce, and one supposed requirement from Mr. Cooper is the divorce decree, " otherwise we can not move forward. '' First of all, in the state of Washington where the separation and divorce occurred, a separation agreement is legally binding and can legally be used in place of a divorce decree ( and it has been signed by a judge ). Secondly, this is not required per VA underwriting requirements. Third, VA loan assumption requests are supposed to have a 30-day time limit, which we are quickly approaching. A final divorce decree could take any period of time to be received, so you are telling me that a person who is separated is just not allowed to buy a home, and we should just wait for months and months before closing the loan? Oh and once a period of time has passed, underwriting will surely ask for more paperwork that is current. This turns into an endless cycle of frustrating and wasting my time. A new loan can be accomplished in 30 days. If people were not incompetent, this should too. This company refuses to budge even when presented with this legal information, and they are now holding my loan hostage. Keep in mind we are now one month behind our original closing date schedule because this company illegally and wrongly told me my loan was not assumable and wasted precious time. Now, they are forcing a divorced woman to live with her ex husband because they won't clear us to close. They have forced me to miss out on 5 ( and counting ) homes and put my professional career on hold because they can't and won't do their jobs, nor will they apply common sense and logic to this situation. I am beyond frustrated, fed up, and need assistance in getting this completed. We can't just keep waiting around for this company to continually mishandle a process that is supposed to be considered a benefit of holding a VA loan. I expect a response and a satisfactory end to this process.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation