Consumer complaint received 2015-04-21
Product: Mortgage — FHA mortgage
Issue: Application, originator, mortgage broker — 
Company: NATIONSTAR MORTGAGE LLC (TX)

On XXXX XXXX, XXXX we were approached by Nationstar Mortgage and offered a better interest rate for refinancing our home than the one we had. We informed Nationstar that we were already in the refinance process and about to close with XXXX XXXX Bank. Then on XXXX XXXX, XXXX we submitted the application for the refinance process with Nationstar. Our credit check was ran and we were awaiting response from Nationstar for further instruction on appraisal scheduling. Then the appraisal was done and now we were waiting for the closing date information from Nationstar. We submitted additional documentation that was required for our credit check. During this time we were notified that we were approved for the loan. After this no follow-ups were done and we were not kept informed of the loan status/closing date. About mid XXXX XXXX we contacted XXXX XXXX ( our assigned loan officer XXXX # : XXXX ) to inform him that we were going to cancel the refinance process with Nationstar Mortgage due to their poor time management and lack of communication with us. At this point he showed no interest as to how to resolve the issue, he simply replied, ok. We also communicated that we would be reporting this to his manager, XXXX ( or like agency ), as well as his XXXX license number. Now XXXX began to probe to find the root of our dis-satisfation and stated that he will make this right by " accelerating '' the process so that we may close within the next or latest next two weeks. We were not confident that XXXX could deliver but he assured and reassured us that he could speed up the closing date. During this phone conversation XXXX ( nor anyone at Nationstar ) did not inform us of why the closing date was taking so long. Please note that on XXXX XXXX we communicated to XXXX via email that we did not approve any additional credit checks. For approximately 2 1/2 weeks we did not hear from XXXX again. So due to our frustration we refused to speak to him and in turn sought out his manager. We got the run around when attempting to speak to a manager as other co-loan officers refused to transfer our call and instead they notified XXXX that we were seeking to complain to his manager. XXXX contacts us only to tell us to stop threatening him with reporting him to his manager. Finally after several attempts we spoke to XXXX XXXX ( manager at Nationstar ) and explained our situation, which he already had knowledge about as he was XXXX of the persons we spoke to when attempting to reach a manager, but failed to assist us since it resulted in a transfer/call back from XXXX. XXXX XXXX researched our loan status and he stated that we are having difficulty being approved, which was a complete shock as we were about to close with XXXX XXXX Bank back in XXXX XXXX with no issues. At this point is when we find out that our credit was ran again for evaluation even after we stated we did not approve additional credit checks. Nationstar set false expectations for us stating that the longest a refinance loan procedure could take, ( keeping in mind approval/title complications ) would be around XXXX45 days. For us it has been roughly 150 days and we have yet to close. Why did it take 150 days +/- to find out that we do not qualify and why did we have to file a report to be given this information? And worst of all, due to the multiple credit checks by Nationstar our credit score has declined. Now we ca n't refinance our home. It was n't until after we spoke to XXXX XXXX ( XXXX, five months later ) that we were told we have to pay some accounts off to qualify, which we agreed to. We were never contacted by Nationstar again. It seems as if refinancing our home with Nationstar perhaps it is not in their best interest financially but after all they were the ones who approached us so that we would not refinance with XXXX Bank.