Consumer complaint received 2021-10-13
Company: ClearPath Lending
State: IL
Product: Mortgage
Sub-product: VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I have been receiving numerous direct-mail advertisements ( letters ) from ClearPath Lending , XXXX involving refinancing of my mortgage at 1.75 % .On XX/XX/2021, I responded to the letter by calling the listed number on the letter. I spoke to a mortgage representative ( XXXX XXXX ). He requested a copy of my current mortgage statement, home insurance, XXXX, and photo ID. I gave him over the phone my address, current amount owed on my home, SSN, and date of birth. 
On the back of this mailer is listed the qualifying criteria for eligibility to get this 1.75 % interest rate for VA applicants. It simply listed that you needed to have a FICO score of # 800 or better. Days later when I spoke to Mr. XXXX, about where I was in the refinancing process, he informed me that after checking the three ( 3 ) credit bureaus, I failed to qualify for the 1.75 % lowered interest rate because two ( 2 ) of the credit bureaus listed my FICO score in the upper 700 '' s. Only my XXXX had my score in the 800 's. I informed Mr. XXXX that I found this to be incredulous. I informed him that I would check my FICO scores personally. I then checked my scores with all three ( 3 ) credit bureaus and found that all my FICO scores were in the 800 '' s with all three credit bureaus. Thus, based upon the reading on the back of these letters which states, in part, that the interest rate applies to an 800 FICO score ( middle qualifying score ) or higher. My FICO scores were as follows : XXXX : # XXXX ; XXXX # XXXX ; & XXXX # XXXX. So, following Mr. XXXX explanation of what's a qualifying " middle score '', my middle score would be the XXXX FICO score # XXXX, which would qualify me for the lower interest rate. 
Hours later, I called Mr. XXXX again to inform him that he was in error, and that my FICO scores did meet the screening criteria for obtaining the lower 1.75 % interest rate. Then, Mr. XXXX began to give me this story that ClearPath uses a different formula for calculating a FICO score which makes no sense. If they were going to use their own criteria for determining eligibility then why the need to consult with the three credit bureaus. He stated that they calculate what they call a " mortgage score. '' I stated to him that this is not what is stated on the mailed advertisement that was sent to my home. I further stated that I believe that he and ClearPath is using misleading, and inaccurate statements on the mailer to hoodwink me ( Veteran ) and others into responding to their letters. They now have access to my personal information and they have misrepresented the criteria for qualifying for the refinancing credit terms of 1.75 %. 
I have requsted to speak with Mr. XXXX 's supervisor. He gave me a Mr. XXXX XXXX whose number is ( XXXX ) XXXX. I have called this individual several times and left messages and he has failed to return any of my phone calls at the time of this writing. Secondly, I requested that I be given disclosures outlining specifically why I was being denied the VA refinanced 1.75 % interest rate. I have yet to receive this information. Your help in this matter will be much appreciated.

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