Consumer complaint received 2023-07-15
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: FIFTH THIRD FINANCIAL CORPORATION (NY)

Working with fifth third bank I submitted to them an application for a physician loan 0 % down. I was approved for 10 % down due to credit score being one point lower than their requirement in the context of having on a big trip and having a large credit card bill due to an international trip. Spoke with a lender at that time who advised that they could re-run my credit score and would be able to then upgrade to 0 % down. Re-run credit score, but read it prematurely so the number was still the same. At that point sent to underwriting with 10 % down. 
I clarified with the lender that rerunning the score would still be a possibility and that a 0 % down loan would still be a possibility even after signing paperwork and submitting payment. The loaner guaranteed over email on XX/XX/XXXX that 0 % down would be guaranteed if I were to present a higher credit score. At this time I paid for my own credit report, which was at that time XXXX  points over the requirement for 0 % down and resubmitted this credit score. Lender did not answer emails for myself and my real estate agent regarding adjusting loan terms or regarding other issues such as appraisal. Eventually, due to persistent lack of response from lender reached out and got in contact with his boss. At this time now 2 1/2 weeks after their agreement to still honor, the 0 % down, assuming the credit score had increased, and after having paid them. Supervisor at this point says it was against Bank policy to have ever run a second credit score and a third one would not be run. Recommended that I submit an appeal to get 0 % down loan not understanding that already it had been approved by prior lender and this is an over {$25000.00} expense. Set it at XXXXXXXX XXXX the Friday before closing, which is on Thursday in a state that requires XXXX hour turnaround before signing contract that it had been approved only at 5 % down. The 100 % was not able to be granted as an exemption after being explicitly, provided to me in writing that increasing my credit score was the only requirement to do this. Secondary to this set an a requirement for additional money gift loans in order to be able to get this money and documentation of all of the above again 15 minutes before the bank closed on Friday when all paperwork must be submitted on Monday. Despite multiple phone calls to both loaner and supervisor, nobody has been willing to address my concerns or attempt to problem. Self persistently insist that they will not violate bank policy while they have persistently been violating policy and have already run her credit score twice even though it's supposedly been their policy for over a decade to never run it more than once. Unwilling to refund money, provided with initial loan terms for their services based on genuinely held belief that they were offering me a 0 % down loan and unwilling to work with me to provide any sort of financial or material compensation, given the fact that my closing is likely to be delayed, and I am likely to have to pay funds for a hotel in the time while I'm waiting for the closing, and hopefully do not lose the home. 
The supervisor I speak to repeatedly says he understands my position or that their behavior was not acceptable that he apologizes that this occurred, but has made XXXX genuine effort to resolve the problem. Despite the fact that he says, he's working on, it is unable to offer a suitable solution. After appeal fails, then says oh maybe I will go to the senior manager on Monday when the senior manager should have initially been the one to be involved in the situation when responses were not occurring. Overall lack of concern, and regard for the position that they have placed me in, and for the fact that they granted me permission to have one sort of loan in writing, and then pulled back. Effectively misrepresented their company, their policies and the risk they were asking me to take in order to collect money and make a sale. If you were not able to get a resolution, legal action is next.