Consumer complaint received 2016-04-22
Company: NAVY FEDERAL CREDIT UNION
State: MD
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Application, originator, mortgage broker

Complaint:
I applied for a mortgage with my wife and son as co-borrowers, Navy Federal had reviewed my credit report, bank statements and pay stubs and issued a pre-approval. When I had a ratified sales contract and the loan was processing, few questions came up regarding a property I had in the past. Navy Federal delayed my process for about two weeks and all they said was " we are verifying information '' finally we were a week from closing and since we were n't getting any response I had to get my nephew involved. My nephew used to work a t NFCU and he was the person that referred me to them so I gave him permission to speak on my behalf and try to find out what the issue was. He was not getting a response from processing so he provided us with a few emails from the company 's executives. Finally my nephew spoke to XXXX XXXX who asked if we had had a property in the past which was odd because I had been told by the processor during the process of the mortgage that XXXX XXXX was incorrectly reporting information about my social # so obviously we had a property in the past, it was on the credit report. XXXX then asked the disposition of the property and my nephew told her it had been sold as a short sale around XX/XX/XXXX/XX/XX/XXXX ( did n't have the exact date at that time ) but knew that our waiting period had definitely already past. XXXX then told us that the credit bureaus were not reporting accounts that I previously had in the past. WE asked her several times to please assist and let us know what accounts she was referring to but all XXXX said is to call the Bureaus. From the beginning of the application process, we had explained NFCU that I had been in this country for about XXXX years and paid taxes every year under my TAX ID and recently had obtained my green card and social security ( not sure why this was a surprise later on ). Called all XXXX credit bureaus and were told that the information they had was correct, we even uploaded a copy of our green cards/social security cards to verify our identities. XXXX refused to move our file along because she stated NFCU did not have a " true '' FICO. We explained to XXXX we do not control nor have ANY WAY of manipulating the credit reports, we had call all XXXX Bureaus and asked to update any accounts under our tax XXXX if any and they stated the credit bureaus do not only report information based on SSN but also based on address, dob and names. At this point after several weeks of trying to get the matter resolved and a few days from our closing date, XXXX asked to call the Bureaus ONE more time and get the employee XXXX that we spoke to and requested the information to be updated. ONce again we called and gave XXXX this info- XXXX XXXX employee ID XXXX, XXXX XXXX employee ID XXXX and unfortunately XXXX did not want to give out this info, at the same time we again explained XXXX that all XXXX bureaus were saying the exact same thing NOTHING TO UPDATE, she refused to help us with putting us in touch with a department in any of the bureaus that will assist us with getting this fixed. The bureaus also agreed with us that we HAD NO power to manipulate any of this, if that is what NFCU was thinking. After all the hope XXXX XXXX had given us and made us go through, NFCU DENIED the loan on basis of " unverifiable information '', we feel that this does not meet a true denial of a loan. We had provided ALL documentation requested, transcripts, bank staements, IDs, green cards, SSN cards, XXXX, pay stubs, rental information etc and all these documents are 100 % verifiable. We are still fighting to get our earnest money deposit from the seller and were put in a position with our landlord since we had to stay in the property after all. NFCU needs to elaborate on what documentation was not verifiable because we offered everything in our power to help NFCU with the process. NOTE : This is a brief expl

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