Consumer complaint received 2023-01-06
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: Dovenmuehle Mortgage, Inc. (CA)

The loan was a conventional one but, it would be paid back in a matter of 30-60 days when my existing home sold. XXXX XXXX was the bank and they held all the cards, XXXX was the " servicer '', not sure what that means. XXXX XXXX ( please do not publish her name ) was the loan processor, loan amount XXXX, loan origination date XX/XX/2021. 

I proved I had the money to cover the loan in my IRA, I was XXXX, a widow, and could draw it out in any amount I needed. XXXX held the title to the home being sold and the sale amount would more than cover the new loan on the new property. 

This occurred while my home was closing, I was diagnosed with XXXX, underwent XXXX, and suffered from XXXX XXXX Please note that there was zero risk to XXXX XXXX or XXXX, this loan was a sure payoff in a very short period of time. 

The underwriter required me to submit inches of paperwork, all for the same information. They wanted bank statements, all within a few days of release. Then they wanted proof of the statements from my bank account, proof of deposits, multiple times and ways. They they wanted statements from my investments, statements upon statements in different ways. Then a letter from my financial advisor. I had to set up a withdrawal from my XXXX account and then prove that it went through. I had to sign an affidavit that I had this account, ( after all the statements ) and that I had this withdrawal. Then I had to prove the whole financial trail with more paperwork. The loan processor often started the conversation regarding this loan with, " I'm sorry. '' I know that this was excessive, because I have had multiple loans with the same company. 

It is totally wrong in so many ways. Were they hoping I would lose the house, I would just go away? What was the goal of this mystery underwriter? I have had multiple mortgages through the years, this was the first one as a senior citizen. Is that the answer? Was I put through living XXXX and redundancy because I am older now? 

It was all pointless. Anything I signed saying this was the status became null once the mortgage was funded. I cancelled the IRA withdrawals, I didn't need the heavy pull from my IRA. I'm good with my money and this underwriter seemed to think they had control of it. This was a total overreach of underwriting authority and harassments of a heinous kind. I would let this roll, but is it happening to seniors that can't speak up, that don't have the financial control I do? 

The bottom line is the underwriter was so focused on making me jump through hoops, they did not notice that the house had serious problems. Why didn't they ask for a utility bill from the seller? When checking the title records, how did they miss that, THIS HOUSE HAD NO WORKING SEWAGE TREATMENT SYSTEM!!!!!!! There was a buried kerosene tank in the yard, the water pipes didn't work, the HVAC was laid out but never connected. There is more, I spent all the money to completely pay off the loan making repairs that should never have been needed. I had to get a small loan to get reasonable rate and payment amount. The underwriter should have also looked into the retaining wall that failed. I take some ownership in missing some of this but, in my defense I was so fragged out by the underwriter and recovering from XXXX, I missed it. It looked good on the surface. I feel that this needs to be addressed, that the underwriter acted in bad faith throughout the transaction.

Let me again state that there was zero financial risk to the XXXX XXXX or the servicer, XXXX.