Consumer complaint received 2021-06-03
Company: Mortgage Research Center, LLC
State: MD
Product: Mortgage
Sub-product: VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
Veteran 's United has set us up for failure and are only hoping to approve us for a house anyway they can even if it means that our financial security is at risk and that my wifewho is XXXX XXXX in XXXX XXXX not have anywhere to live on-post when she transfers to XXXX XXXX as they have essentially bullied us into revoking all of her living accommodations so that we could " qualify '' and use her Basic Allowance for Housing ( BAH ) as added income to pay for a house that we are attempting to close on. 

Veteran 's United pre-approved us for a {$650000.00} loan but the home we are trying to buy is for {$580000.00}, which Veterans United has continued to postpone our closing date and string us along while my wife has less and less options for where she will live when she transfers from XXXX XXXX, XXXX XXXX, to XXXX XXXX, North Carolina. 

Why did Veteran 's United " pre-approve '' us for a {$650000.00} loan when their underwriters will not provide us with a loan of {$580000.00}? 

We have paid a multitude of funds which I will not see again, and I am even more worried about our Earnest Money Deposit of {$6000.00} that the seller 's agent is threatening to take if everything falls through. 

Below are the funds that we have spent for Veteran 's United : -Appraisal : {$520.00} ( on XX/XX/2021 XXXX XXXXEarnest Money Deposit {$6000.00} : ( on XX/XX/2021 ) -Expedited shipping for Power of Attorney : {$130.00} ( XX/XX/2021, and XX/XX/2021 XXXX Both our lender and realtor failed to notify us that my wife would not be able to sign closing papers and waited until last minute for my wife to notarize a document and expedited shipment from XXXX XXXX to XXXX XXXX MD XXXX Our realtor provided the wrong form which caused XXXX to have to resend a second POA form, resulting in more expenses. 

I have documentation of us explaining how frustrating the underwriting process is and how we felt bullied into complying more and more with Veteran 's United wishes of forgoing any sort of housing option for my wife in XXXX XXXX in order for our BAH to help cover expenses for the mortgage of this house. My wife was going to live in an on-post house that her BAH would have paid for but canceled this in order to reserve BAH for our mortgage. My wife was then informed by the XXXX XXXX XXXX in XXXX XXXX that the Barracks are 100 % FULL and that it is reserved for UNMARRIED SOLDIERS. 

Veteran 's United had manipulated and bullied us into exhausting all my wife 's options for housing on-post and now she will most likely have to use her BAH and monthly income to get housing off-post. This now ensures that our loan will not be approved, leading to all the finances and expenses I listed above to be taken from us. 

If our loan is not approved, we will lose {$6600.00}. 

At every turn we conveyed our concerns to our lenders regarding being able to pay and be approved for the loan, but they continued to ignore our statements and solely focus on approving us for this loan in any way they deemed fit. Now we have no BAH to assist in paying for this loan, resulting in us losing house and losing the money we invested.

Company response to consumer: Closed with explanation