Consumer complaint received 2022-10-11
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: CITIZENS FINANCIAL GROUP, INC. (PA)

To Whom It XXXX Concern : Sorry for this being pretty long but I feel like a timeline will help explain our situation. 

I applied for a refinance and mortgage with my husband on XXXX XXXX, XXXX, with XXXX Bank. We started the loan process online and we were automatically assigned to a loan XXXX. He was located in Rhode Island so I am not sure why we were assigned to him although at the time it didn't raise any red flags as we were unaware of where his location was and his assistant was from Texas. We locked in our rate of 5.875 % until XX/XX/XXXX and decided to move forward. This was our first time doing a refinance and our loan XXXX XXXX XXXX was no help at all. We explained at the beginning of this process that we were looking to get out of our high-interest payments with our private lender and that we were looking to pull XXXX from our home equity to install heating/cooling in our home as we have rehabbed most of it and only had some cosmetic items left. We also paid in full for our appraisal after this conversation as that was the only way to move forward. 

( All dates are when XXXX Bank letters were postmarked, keep in mind we received the mail a little bit behind these postmark dates ) We had little communication during the entire process and when we did talk it was like he didn't know what we talked about prior, or he asked for paperwork we already sent in multiple times and there were numerous times when he would not respond to emails or questions but instead ask for the same paperwork. This happened numerous times throughout the process with not only us but our lender sending things 3 times to not only XXXX but his assistant. 

On XXXX XXXX, XXXX ( Postmarked ) We are sent paperwork with a punch list from XXXX asking for more paperwork to move forward. We sent it in within XXXX via email. They also wanted to see XXXX reserves of payments in our bank account. I told them we got paid the following week and could send it in then. 

On XXXX XXXX, XXXX ( Postmarked ) we were put into an Adjustable rate mortgage without our consent. 
On XXXX XXXX we had our appraisal. We never had XXXX before and we were in the middle of some projects, updating the countertops to cement which were being poured in place and had the forms already set, the sink was laying in front of them. Updating the lighting upstairs to LED recessed lights and updating the master bath sink to match the XXXX bath. We also had the floors refinished but they were done at the time of appraisal. We didn't know at the time that some of these things could not be counted as part of the appraisal until they were done. The XXXX told us about " subject to completion '' which we had no idea about. 
XX/XX/XXXX - Called XXXX about the " Subject to '' with no answer. 
XXXX XXXX We finally get a call from XXXX after XXXX his assistant to please have him call us because our emails and calls were going unanswered. He stated he was in the hospital and that is why he was not responding but that emails were the easiest way to contact him and get a response. He said he will fix the ARM we were put into and told us our file had gotten mixed up with someone else 's while he was in the hospital. I ask about the Subject To XXXX. He stated we could reorder if work could be done that week, I told him I would talk to the countertop guys and get back to him. 
We also send in our XXXX tax return the same day it was asked of us via email. 
XXXX, XXXX I emailed XXXX and told him because of dry time on the countertops the sink couldn't be installed but the following week could work as per our conversation on the phone. I also at this time asked what the XXXX was because we wanted to figure out our best plan of action. No response. 

XXXX XXXX, XXXX ( Postmark date ) - We received our appraisal copy in the mail. We are in the 60 % XXXX range and we appraised higher than expected. Our loan XXXX never says anything about the numbers or brings up the appraisal in any conversation. 

On XXXX XXXX ( XXXX ) we were now put into a new interest rate of 6 % with added points without our consent even though we were locked in. 
We also send in our XXXX reserves as requested back on XX/XX/XXXX. 
XX/XX/XXXX, XXXX I emailed XXXX XXXX the rate change with points - at XXXX XXXX calls XXXX XXXX. ( XXXX Call ) Doesn't say anything about the new rate, Stated to make this work we need to pay off all debt. Can't give a definitive number just says all debt including the car. I'm taken back and don't think to ask about the rate change as this is the first mention of this. He says not to worry about the debt yet and to just send in the paperwork for reserves, I already have done this but say I will XXXX that over to him right away again. 

XXXX XXXX- I call a different loan XXXX from Citizens Bank and ask about XXXX XXXX and XXXX and ask them for the status of my loan. They don't know why my rate has changed. As of XXXX, my loan is in underwriting and looks good. I am told we are going to close soon and to call my loan XXXX about the rate change. I also ask for the supervisor 's numbers. He gives me XXXX Higher up - XXXX XXXX and an email for XXXX 's higher - XXXX XXXX. 
I call XXXX at XXXX pm and he doesn't answer. I leave a voice mail that asks him to call me so we can go over this debt item and also ask about my rate change with points saying I need to talk to him about it. 
I also resend and cc both XXXX and his assistant on our XXXX reserves again. 

XXXX XXXX - XXXX received an email about new disclosures. I figured it was them changing the rates. I log in and see a denial/termination due to DTI and XXXX. 
I write an email to XXXX XXXX asking for him to call me so I can talk to him about XXXX and maybe get some clarity as to what happened. 

XXXX, XXXX - I write an email to XXXX XXXX from citizens Bank who is in charge of XXXX XXXX asking for clarity because I still haven't heard from our loan XXXX. XXXX emails me back and says he has hours free the next morning or afternoon. We set up an afternoon call. 
Also, our private lender is now getting text messages from the title company telling her she is slowing down the process and needs to send them paperwork to close. 

XX/XX/XXXX, XXXX I received a call at XXXX. I touch briefly on what happened before XXXX tells me he has another call at XXXX pm... He says it looks like the XXXX was an issue and when I asked about why we are a month and a half in and you guys had me send in XXXX worth of reserves why after that were we not denied then? I also stated that we talked to someone else in the company that said 50 % XXXX is the highest they could go but we were at a 44 % and had wiggle room. He stated it looks like our loan was denied because of how long it was open. 

I also asked him to go over the collateral denial with me if he could. He stated the house was unlivable ( the first time we are hearing this even though we live here... I'm guessing because of the heat/air which is getting installed now? ) And when I asked bout the subject to completion.. he said they normally wouldn't do that on this type of property I told him all work was completed ( besides heat and air which was talked about before even moving forward with a loan ) and that this is a total conflict from what our loan XXXX told us. I also didn't understand why almost a month after our appraisal we are just hearing this and why they would have ordered the appraisal and waited to so long after. XXXX says he needs to talk to XXXX and he will get back to me in a few days. He also says he is going to refund my appraisal fee that day. 
I have not received a refund for our appraisal. 
We never received any paperwork stating that we needed to pay off debt or what amount was needed to move forward. 
We never received in the mail a termination letter. 
We still have not heard back from either, XXXX or XXXX XXXX never contacted us. 
We would like answers as to what happened because to us, it looks like as soon as I asked about our rate change we were denied. This happened during the surge of rates hitting 7.0 % plus. We also would like to know why we were not even given a chance to pay off debt after they stated that we could or why they stopped working with us as soon as I asked that question. We would also like clarity as to why we were denied due to XXXX but were asked for XXXX reserves that were met, so it seemed like they were working with us as long as we could meet the loan requirements. We would also like to know why we were not given the subject to that was indeed brought up by our loan XXXX and talked about by our loan XXXX. 
Our first conversation with XXXX XXXX during our loan application was XXXX long. After that, we have only had XXXX calls from XXXX XXXX the longest conversation being XXXX and XXXX hardly enough time to talk about anything or answer any questions. Every conversation was very rushed and was always thrown off course from questions by needing something else..such as all debt paid off without a number being able to be given. 
We also would like to know why no one can get back to us or set things straight. It is hard enough to find out whom to talk to because none of that information is made public on websites or online. Why did I have to call another loan XXXX to get said info? 
Why did all mail paperwork stop, if they needed more information from us why did we not receive it in the mail as well as we did before? And why can't we get the total number of the debt we need to pay off? Where is this set-in-stone number and what would that make our XXXX ratio? What XXXX ratio are they looking for from us? 
Why was our rate changed when it was locked in? I would like answers to this as it happened 2 times during our process. 
We have a ton of unanswered questions and conflicting information from our loan XXXX whom we haven't even talked to since XX/XX/XXXX. and XXXX XXXX whom we haven't spoken with since XXXX. 

I'm not sure if this is the right place but we could use some help getting some clarity from all of this. This has been a horrible experience and it has been drawn out and has cost us our rate locks at the same rate with other banks. Is there anything we can do from here? Why were we not able to try and get things resolved before denial? 

We can also provide all documents and correspondence if needed.