Consumer complaint received 2022-10-20
Company: Celebrity Financial, Inc.
State: NV
Product: Mortgage
Sub-product: VA mortgage
Issue: Closing on a mortgage

Complaint:
Hello, I am a XXXX XXXX XXXXXXXX Veteran  My name is XXXX XXXX XXXX and I are XXXX XXXX  XXXX Veterans whose family started this home purchase in XX/XX/2021 and are scheduled to close in XXXX because of the home we placed under contract. Our XXXX XXXX XXXX was so angry with me, and we solely completed our home purchase through my wife. I have proof of XXXX XXXX 's emails communicating this to my wife because of my questions regarding the purchase. 

XXXX XXXX and XXXX XXXX became business partners during our purchase which should be unfair business practice, I'm not sure if it is. More so, XXXX XXXX locked in a 5.47 % and bought down to 3.25 % for {$55000.00} at a time when interest rates were 1.75 % to 2.75 % from XXXX through XX/XX/2021. Additionally, we were forced to borrow {$50000.00} from friends to complete the purchase with a total of {$100000.00}. I need someone to analyze these contracts and correct this intentional act of non-compliance. 

We were never given any documentation regarding a HIGH RATE INTEREST RATE VA LOAN also, there is no documentation in the closing Doc. Not only that! XXXX XXXX lied to the point we were kicked out of our rent-back agreement with less than a one-week notice because he told the people he did believe we were going to get our mortgage the people we purchased our home from were communicated the same thing. We could really categorize this as a SUBPRIME LOAN sold to an XXXX American Family in a subdivision that is about 1 % XXXX American. 

Attached is the closing summary, and if anything else is necessary, please contact me. Additionally, We have requested a Loan Modification and are waiting on correspondence. 




This is an email I would like to share : XXXX XXXX XXXX XX/XX/2021, XXXX XXXX  Reply to XXXX, XXXX XXXX, and XXXX XXXX XXXX and XXXX, XXXX, XXXX need to make sure you understand this ; if you do not, let us know. We have been referring to the third parties we are waiting on are XXXX, XXXX XXXX, and XXXX. Those are credit bureaus. I am not a broker ; we are a bank. We now have to try and fix your credit score because less money down increases your risk tolerance and has an impact on your loan being approved or not. Like I have mentioned a few times before, just because a XXXX XXXX dollar VA loan no money down exist, does not mean that anybody and everyone qualifies for that. We still have to qualify for that amount. When we are borrowing money, and a lot of it, there are federal regulations that need to be followed. By everyone. My team and I are going above and beyond to try and fix this for you but now we are waiting on third parties, that do not work for us and we have to wait on their turn times. This is why we had to go and get proof of these other accounts you have paid off. A lot of times it may take them over a month to update. That is why we are doing a rapid re score. 

Your loan was approved and I discussed with you a few different times now from the beginning, due to what your credit score was when we pre-approved you and also when the underwriter ( The judge ) approved your loan, it was with the $ XXXX down and I told you what debts and what debts only to pay. When you change that recipe and spend money and pay off additional items, ( especially collections ) it can be devastating to your XXXX  score and cause other issues. 

Now we have had to change the recipe to move your loan forward, that is why you had to go and pay off the other VA loan and we are trying to get things deleted off your credit report. You originally did not have to do that because we had the recipe figured out. When you change things on how you are approved we have to go back and change things to make it work. 

I am a great cook but I am even better at loans. We are all on your side but surrendering to the process and doing what we tell you will help alleviate a lot of stress. Remember at the end of the day we are borrowing money and a lot of it and we all have federal regulations we have to abide by. Thank you XXXX, we are trying to get you to the finish line as quickly as possible. 

Kind regards, XXXX and team.

Company public response: Company disputes the facts presented in the complaint
Company response to consumer: Closed with explanation