Consumer complaint received 2023-06-19
Product: Mortgage — FHA mortgage
Issue: Closing on a mortgage — 
Company: Mr. Cooper Group Inc. (TX)

XX/XX/XXXX To whom it may concern, I, XXXX XXXX, am a client of Mr. Cooper who I obtained a mortgage from for the residential property, XXXX XXXX XXXX, XXXX XXXX, Texas. Acquiring the help from my relator agent, the short sale of the residential property listed above began on XXXX XXXX and was an active listing as of XX/XX/XXXX at {$130000.00}. This listing was active until roughly XX/XX/XXXX due to an investor submitting an offer of {$100000.00} for the above listed residential property. The time line below will explain the short comings and issues I have encountered during this process. I would like to state how poorly the professionalism has been while dealing with this matter. Upon submitting any required documentation, we have discovered that the appraisal being used is based off what the market was a year ago. The condition of this house and this property before and after I had agreed on the purchase, was not and is not adequate to the value the lender is asking for. I originally purchased this residential property for {$110000.00} and have had numerous issues with it. Now the lender is requiring my agent to repost the listing for 6 months at {$140000.00} and no less. This listing will only cause more interest to occur the longer it stays active. Also, since the time we had started the initial process, we have had problems getting feedback from the lenders in order to close this process without the occurrence of more defaults adding up. Since it has taken so long, I am now more behind than when we started and lender is currently asking for us to hold off on taking the listing down for the 6 months or until a buyer with the required amount comes forward. All showings of this property have resulted in the same findings, having a rise in the economy, the cost of the repairs is not worth the asking price. I do not appreciate the lack of professionalism being showed by this company nor do I appreciate being scammed into more debt than what was initially agreed upon. If this process continues, I will have no luck selling this property as well as have future issue with buying new property in the future. They had refused to open documents or processes until weeks at a time causing more delays and more interest to accumulate causing more money to be owed. The list below names just a few repair issues that the house requires in order to be livable again. There are several discrepancies on the appraisal that will be listed below. 

Appraisal states that there are no repairs that need to be done to the home as well as does not show a garbage disposal included when in fact there is one present. The repairs are not something that magically appeared, they were present before the home was purchased, and at the time of purchase. T The appraisal also states that there is a drive way as well as a covered back patio when in fact the half circle portion of the driveway is a full rock driveway and there is none leading to the carports. The back patio is not covered. 
Appraisal States at the time of the appraisal the property was not offered or had been offered for sale at the time of the appraisal or within the last 12 months.

Appraisal states gas hookups are available but does not include that there are no existing gas lines available.

Appraisal states presence of gutters and downspouts when in fact none are present.

Appraisal states home is in average condition at the time of the appraisal but in fact at the time of the appraisal, the issues listed below were already present.

Appraisal states that there are no physical deficiencies or adverse conditions that affect the livability, soundness, or structure integrity of the property when in fact the sloping of the house due to leveling issues as well as the rotting joists and flooring of some of the rooms will only cause more structural damage. Which has already led to many of the walls to become cracked and or shifted in such a way that has compromised the integrity of the structural framing of the home and foundation. 

List of repairs for hous

e : Two A/C Units that do not work or constantly shut off Downstairs bathroom floor and joists need to be replaced Kitchen, dining room, living room, mud room flooring and joists need to be replaced. The kitchen floor is so bad you can feel the rotted wood and well as any hardware that was used in order to secure joists to house. 
The back part of the house has become unlevel mainly the mud room and kitchen and down stairs bathroom. 
The flooring in the living room has buckled due to the house being unleveled Electrical breaker and panel box need to be updated, some of which requires new equipment. ( out of code ) Fireplace was shifting away from house, had to seal off with fire foam No possibility of gas lines without having to do the work myself due to all house equipment being out of date. 
List of yard issues : Improper driveway throughout yard would have to hire contractor in order to fix rock driveway properly and bring to house. 
Property line dispute with neighbors- lines where not properly marked correctly. 
Piles of buried bricks and trash in back yard that was unknown until contractor was hired for first time yard clean up. 
TIME LINE FROM RELATOR : Short Sale documents were sent to the lender on XX/XX/XXXX Short sale listing went active on XXXX on XX/XX/XXXX and started out at {$130000.00} Only 1 showing so we lowered it to {$110000.00} on XX/XX/XXXX At XXXX we had 9 showings but no offers. Feed back was that it was overpriced and too many repairs XX/XX/XXXX - lowered listing price to {$100000.00} and on XX/XX/XXXX we received an offer for $ XXXX. 
We submitted the offer to Mr Cooper via email. Mr. Cooper would not open the short sale review because they said it needed to go through the waterfall process. 
Finally, on XX/XX/XXXX they allowed the short sale to be opened up in XXXX. 
On XX/XX/XXXX an interior appraisal was completed. 
We received the appraisal results on XX/XX/XXXX that they came in at $ XXXX. 
Value dispute was submitted on XX/XX/XXXX via XXXX XXXX opt Out letter sent again XX/XX/XXXX XXXX in XXXX : Hi, In the underwriting review process only completed. we are waiting for completion of modification trial pack approved or not. once modification complete the decision then we will move the file forward to next step. Thank you. from : MR COOPER Lots of emails and calls to the lender in between these messages. Im just trying to post a quick timeline for you. 
XX/XX/XXXX Message in XXXX- Sent a specific form to fill out and asked us to submit the value dispute again with that form. 
XXXX Message in XXXX Value dispute returned with no change in the value. 
XXXX  The appraisal they used has comps from almost a year ago when the market was super hot and even at the end of that we were getting offers. 
Home is now back active for XXXX XXXX in case we can magically get a buyer. 
Appraisal attached and it expires 6 months after completion and then the lender will order a new one. 

XXXX1 File was not able to be uploaded due to XXXX XXXX XXXX File unable to upload was XXXX XXXX listing of the house.