Consumer complaint received 2016-12-09
Company: NAVY FEDERAL CREDIT UNION
State: CA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Application, originator, mortgage broker

Complaint:
I was working with Navy Federal Credit Union over three months to secure a refinance on my primary residence. There were many delays in the process on the part of Navy Federal CU to the point that my rate lock expired and was told I could only get a 4.125 % interest rate with XXXX points instead of the XXXX with XXXX points originally agreed on. It was not communicated that the rate had gone up until over a week after it had occurred and multi months into the process. At certain points I had to call three times over several days to get a response. Other times the only way I could get someone was to have the Navy Federal operator actually go get the processor. 

This is the timeline based on my documents and emails : XXXX - I received the initial Loan documents after applying online XXXX - I reviewed documents XXXX - I faxed Requested Documents XXXX - I emailed to see that the fax arrived ( no response ) XXXX - I received new documents for me to review note : Navy Federal spent 2 weeks beginning XXXX XXXX to review documents before ordering an appraisal XXXX - Appraisal ordered XXXX - Appraisal Completed note : Navy Federal spent 2 weeks to review appraisal and additional documents XXXX - I received email indicating that the processor reviewed the file and missing documents were needed ( Rental agreement, XXXX form ( missed checkbox on form ), HOA information ) XXXX - I faxed the requested documents XXXX - Processor sent files to review ( she believed complete ) XXXX - Back from review ( extra documents needed ) - NFCU increased funds required to close and requested documentation of Trust ( note : this is a standard revocable trust ) XXXX - I faxed the requested Documents XXXX - Processor indicated documents were being reviewed XXXX - I emailed about rate extension since it expires on the XXXX ( no response ) XXXX - I emailed about status ( no response ) XXXX - I emailed about status again XXXX - Processor response to my email : trust information still being reviewed XXXX - I emailed about Rate extension ( no response ) XXXX - I emailed about status ( no response ) note : Navy Federal Spent 27 days reviewing documents since submitting the additional information that they requested XXXX - NFCU emailed saying trust is cleared to close and received updated payoff, file sent to review for close, I received a new document to review ( no mention that the rate was increased but in actuality it had been ) XXXX - I emailed the processor about closing as I had not heard anything, received reply that close can occur on XXXX XXXX XXXX - I asked if we got rate extension, received reply that extension completed at current market rate ( this is the first time I was informed that the rate had increased ) At this point, I asked Navy Federal to give me the originally agreed interest rate ( 3.625 ) since the multiple delays were due to NFCU. They said they would not honor the original rate.

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