Consumer complaint received 2020-07-03
Company: PENTAGON FEDERAL CREDIT UNION
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
XX/XX/XXXX Me and my girlfriend applied for mortgage loan. It was was pre-approved with a condition to sell my current condo. Closing date set for XX/XX/XXXX. 

Early XXXX Loan was supposed to be assigned to a processor. 

XX/XX/XXXX I accept contract to sell my current condo in order to meet the condition for the loan. This contract binds me after 10days to sell the condo no matter what.This day i still dont know anything about the processor since no call has been received. Asked the loan officer who my loan processor is and why they havent called. 

XX/XX/XXXX Loan Office gives me info of the loan processor who still has not reached out to me. 

XX/XX/XXXX Sent email to loan officer since loan processor has not called and i assume all documents needed where received. Loan Officer advised he would get his manager involved. 

XX/XX/XXXX Emailed loan officer with concern about not knowing anything of loan status that that i would be forced to sell my condo once the 10days grace period of my selling contract pass. Loan Processor emails my realtor stating she is waiting for documents from me, however, this is untrue since i had never spoken to her or received an email asking for documents. Minutes after realtor received email the loan processor emails me with a set of documents that i need to provide including documents from the new property that i had to pay to rush deliver in order for me to make sure they arrived in time and avoid being in the street. I replied back to the loan processor with most of the documents requested. Also, bank ask us to open accounts in order to be member but apparently they require for each applicant to open a separate account instead of joint account and we each open an account on this day. First bank i ever hear that requires a bank account each. 

XX/XX/XXXX Now i cant get out of the sale of my condo since the grace period is over. Sent more documents to the loan processor. 

XX/XX/XXXX Sent the last documents requested by lender. Sent to underwriting. 

XX/XX/XXXX After multiple attempts to speak with someone and find the status of my loan by me and my realtor we still dont know anything. T This institution has put me in a place where on XX/XX/XXXX i have to sell my condo whether im able to get the loan or not since i have a contract to sell. Also this means that My girlfriend, 5 month old XXXX,2 pets and I potentially can be living in the streets in the middle of a pandemic. Ive tried multiple times to find a resolution but still nothing. 

Basically they dont give me enough time to find another lender even if i wanted to since 1 week is not enough for any lender to process a mortgage loan. Ive spent money between appraisal, inspection, deposit of the new home, lender questionnaire fees and rush delivery fees. This is all potential money that i will also lose if this is not resolve and my loan is not approved. I know theres no credit issues, closing funds issues or anything on our end that would not qualify us for this loan. 

Im simply terrified about my situation and i just hope im not in the street with my family. 

I have emails to proof the timeline if needed.

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