Consumer complaint received 2020-02-28
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: Caliber Home Loans, Inc. (TX)

I started the home loan process with Caliber Home Loans on XX/XX/2020. I supplied all of the requested documentation for the loan process ; verification of income, tax returns, bank statements to name a few as requested by the loan consultant. The loan consultant submitted the documents to the Caliber Home Loans underwriting department to ascertain loan approval prior to the necessary steps for loan review. The loan consultant moved forward in checking my credit history, rental history, income verification in addition to being given all the information to meet the stipulations that the underwriting department needed. The Caliber Home Loans underwriting department gave approval to move forward with the remaining steps required for loan processing and closure. All employment gaps were verified as I am self-employed and consistently employed seasonally which paid hourly and with bonuses as a licensed XXXX insurance agent. With the approval given, I was scheduled to close on XX/XX/2020. I took on permanent employment with a higher salary during this final process and notified my loan consultant about it which he received approval from underwriting that this was not an issue. However, three days before closing, the loan consultant contacted me regarding the final underwriter had stopped the closing and was requesting additional documents for employment gaps and income verification, and verification of me being self-employed in which I had already provided. I have worked for the past three years with XXXX as a licensed XXXX insurance agent. When the loan papers were sent for a QC audit, I was informed that due to the new employment being a family business, I would need payroll checks for 30 days. Now, I am being told I would have to have 6 months of payroll checks to meet approval. With each request, I provided documentation but each time she/he came back wanting me to provide more to prove I am loan worthy. All documents requested were provided with tax returns, check stubs, verification of my ongoing businesses. The underwriter requested the schedule C of the tax returns, wanting an explanation for business losses. Once again, the underwriter came back requesting verification of my insurance licenses for the years of XX/XX/XXXX, XX/XX/XXXX, transcripts of my continuing education to prove I am a licensed agent. Every piece of documentation for loan approval was provided to the underwriter as requested and with each supporting proof of viable income, businesses, she/he continued to request more information. It seems as though the underwriter is looking at the point of desperation for a reason to deny me the loan by constantly asking for more and more proof. It seems as if this underwriter is challenging my tax returns seemingly alleging that I would produce fraudulent information. I have provided documentation for my businesses but it still is not enough. I have been paying rental in the same amount of the proposed mortgage payment without being late consistently for the last 10 years. I believe that I am being discriminated against in an overt effort to block me from obtaining home ownership. To be given a loan approval with a set date for closure only to have it shut down is highly suspect and now after providing everything needed to prove I have legitimate businesses and employment, the underwriter for Caliber Home Loans is attempting to deny me the loan by constantly asking for more information and challenging what I provide. I question if this is some type of minority homebuyer discrimination tactic being conducted with Caliber Home Loans and associates. I stand to lose in excess of than {$3000.00} that I can not recoup. I have been led on in believing everything was a go and I have given my rental company notice of my intent to move. At this time, I will be basically homeless if I am not granted the loan struggling to find somewhere to live. If I had any idea of how this was going to transpire, I would have been prepared to have somewhere to live.