Consumer complaint received 2015-06-19
Product: Mortgage — Conventional fixed mortgage
Issue: Application, originator, mortgage broker — 
Company: Finance of America Mortgage LLC (CA)

To refinance my property to a lower mortgage rate I applied for a conventional $ XXXX loan at 3.99 % with an {$800.00} credit from eRates. 

The loan officer locked it with a 45 day close on XXXX XXXXOn XXXX XXXX I provided all required documentation, and the appraisal was completed by XXXX XXXX. 

The underwriter processing the loan did not contact me until XXXX XXXX. And I was provided a list of XXXX items to provide, including all mortgage info, taxes, HOAs and insurance information for a secondary property I sold earlier in XXXX. 
Upon providing all of this information, the underwriter would reply days later and require new items. 

The problem : she requested the earlier items from the wrong property address. She actually wanted my home address. 
From there on the process was a disaster. The underwriter connected the HOA dues to my current home, which has none. I wrote XXXX letters to explain that I did not owe HOA duesThen on my XXXX taxes there was a mistake listing me as the owner of a home business instead of my wife. Even though I provided a CPA letter and my XXXX taxes showed the problem corrected, I had to provide proof of an amended return that had to be received by the IRS. 

I complied with request after request for over 15 days. 
Concerned by how many errors and requests the processor was making, I called, wrote, and left multiple messages stating I was concerned with the timing of the loan, and that I needed to talk with someone to make sure things were being processed correctly. I would normally receive no response back, and I would have to call repeatedly until I could get someone on the phone. My processor also took a 5 day break over the holiday weekend. 

After over XXXX responses to conditions I reached what was supposed to be the last on XXXX XXXX. Then another was issued because my XXXX return was amended to address a discrepancy with income reported by my wife 's business. Who is not even on this loan. 

I was told there would not be a problem passing the lock period, and that I had fulfilled all requirements by clearing up my XXXX tax return. Then not until XXXX XXXX, I received no correspondence. Where I received another notice from the lender that they discovered a XXXX report ID as active from XXXX listing the house I mentioned as sold earlier. To clear up this issue I provided proof the loan was paid off, I contacted XXXX mortgage companies as the loan was sold from XXXX to the next. But erates still refused to clear the loan through their Fraud department. I finally had to track down the XXXX company itself and file a claim to remove the record. Which takes 30 days just for them to look into the inquiry. 

Given the extreme mishandling of my documents, the requests for incorrect information, and the lack of timeliness from this lender I finally lost the loan. And I refused to pay close to {$3000.00} which eRates wanted to charge me to extend the loan lock to 60 days. 

Now Rates are up, and I can not get this loan again. 

I have close to an XXXX credit score, and make enough income alone to far exceed any debt to income ratio. And in the past few weeks I 've obtained financing for a different home priced at $ XXXX. 

There is no reason this loan should not have been issued to me. And it 's cost me {$900.00} in appraisal costs and CPA fees. Plus the chance to lower my mortgage rate over XXXX of a point.