Consumer complaint received 2021-06-24
Product: Mortgage — VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: SOUTHWEST FUNDING, LP (TX)

I along with my fiance applied for a VA mortgage in XXXX of this year with Southwest funding mortgage loan officer XXXX XXXX. We informed her we thought we had to be married to use the VA benefit. After submitting the requested documents and having our credit checked we were given a pre-approval amount of {$400000.00}. XXXX assured us that we would both be on the VA loan even though we were not married. We finally found a home in XXXX and our realtor submitted the contract to XXXX with a closing date of XX/XX/2021. We paid {$1000.00} earnest money and over {$600.00} on general, termite and plumbing inspections as well as {$100.00} option fee. Throughout the whole process XXXX was slow to respond to our phone calls and text messages. She was constantly trying to avoid our calls and often text us saying she was on a conference call or other phone call. When we were finally able to speak to her she assured us everything was ok. Our realtor and the seller 's realtor spoke to XXXX because they felt that things were moving too slowly. XXXX assured both realtors that everything was going to be approved by underwriting which was a blatant lie. A couple days later XXXX advised us that her company was moving slower than anticipated and stated she didn't think her branch manager was doing a good job. She stated she needed more time as we were already a week from closing. We spoke to our realtor and decided to ask the seller for an extension. A day or two later XXXX advised me I would need to remove the credit collection disputes from my credit report by contacting the credit reporting agencies. I asked her why she was just now telling me this if she ran my credit back in XXXX. She said she noticed it then but did not think it was too big of an issue. I immediately contacted the credit reporting agencies and had my disputes removed. I let her know I had completed this and was then informed my debt to income ratio was too high. I was told I would need to contact the collection agencies and ask them to adjust my reported monthly payment to show a lower number other than the full balance. This too should of been seen at the time my credit report was first pulled and not days before the original closing date! XXXX stated it could take up to 60 days for my credit report to be updated. My fiance was informed by the branch manager it would be better to remove me completely from the loan to have a better chance of getting the loan done which was completely out of the question. We feel that we were deceived by XXXX throughout this entire process and our realtor believes the same thing. We feel we were misled and strung along in the hopes of them being able piece together a deal in the end. This company is only looking at the profit they can make and definitely did not have our best interest at all. So now we are out over {$1700.00} due to our earnest money not being returned by the seller and the cost of the inspections. As a XXXX XXXX XXXX and member of the XXXX military, I don't have money to burn and losing this amount of money hurts a lot.