Consumer complaint received 2016-11-09
Company: Social Finance, Inc.
State: IL
Product: Student loan
Sub-product: Non-federal student loan
Issue: Dealing with my lender or servicer
Sub-issue: Having problems with customer service

Complaint:
We applied to re-finance my wife 's student loans with me as a cosigner, because she is unemployed. SoFi requested employment verification. For employment verification, my employer sends a password protected PDF to the entity, and sends me the password for the PDF. It is my responsibility to provide that password to the entity. I requested through my employer on XXXX/XXXX/16 that they send employment verification to " XXXXXXXXXXXX ''. I received the password from my employer and sent it to SoFi at XXXX XXXX, XXXX/XXXX/16. On Tuesday, XXXX/XXXX/16, I received word from SoFi that the employment verification was only good for a short period of time in their system, and they requested a new employment verification. I again requested employment verification from my employer be sent to " XXXXXXXXXXXX ''. I received the password and sent the password to SoFi at XXXX XXXX, on XXXX/XXXX/16. I called SoFi after sending the password to confirm they had received both the verification document and the password. The phone representative allegedly spoke with the Reviewer for our application, and they confirmed they had both the document and the password. About XXXX CDT, on XXXX/XXXX/16, I checked the SoFi online portal, and it still showed my employment verification was missing. It had an option in the portal to upload an employment verification document. In the interest of thoroughness and redundancy, I requested a third employment verification from my employer, but this time I requested the document be sent directly to me. I received the document and the password, un-encrypted the document, and re-saved it. I then uploaded the un-encrypted document to the SoFi portal about XXXX XXXX, on XXXX/XXXX/16. Since that time, SoFi apparently has no record of receiving the previous two employment verification documents directly from my employer, nor a record of the SoFi employee I spoke with who verified the second employment verification. They have stated the document I provided is not sufficient because it did not come from my employer, and have requested yet another employment verification from my employer. Seeing as I have had my employer send two previous employment verification documents directly to them, I have refused to have my employer send them an employment verification a third time. SoFi 's lack of record-keeping and document accountability is alarming to me. I have provided them a lot of personally identifiable information ( PII ). How secure is the rest of that information if they ca n't locate the previous two employment verification documents my employer sent them? I suspect there must be a standard financial institutions are required to adhere to in maintaining customer 's PII. I am concerned that SoFi does not have a practice of adhering to those standards. We have withdrawn our application from SoFi due to their poor record-keeping practices and insistence that I have my employer send them a third employment verification, but felt it prudent to file a complaint in the interest of all of their clients PII.

Company response to consumer: Closed with explanation