Consumer complaint received 2020-06-18
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: STATE EMPLOYEES CREDIT UNION (NC)

On Friday, XX/XX/2020 My husband and I went to North Carolina State employees Credit Union to open a savings account and obtain information regarding a pre-qualifying letter ( What items are needed, what it all entails, and education on what the letter is ). We were introduced to XXXX XXXX the financial services officer for this particular branch. She assisted with getting our savings account in order because we found out that were already had an account open but it was inactive. She then proceeded to begin filling out information regarding the pre-qualifying letter. She made no assessment of our knowledge and provided little to no information on what a NCSECU pre-qualifying letter entailed. 
We were informed the letter would expire in four months and the hard inquiry on our credit would last only 4 months. ( The hard inquiry actually stays for 2 years ) We provided our names, incomes and employment for the past two years. We notified Ms. XXXX that we wanted both my husband and I to be listed as borrowers on the pre-qualifying letter. We discussed that my husband I requested the amount of XXXX for the pre-qualifying letter. Ms.  XXXX informed us that she could run several different scenarios as well. So we told her in addition to providing info on XXXX, to also provide a scenario of XXXX as well. She stated that it was a busy day so she would get back to us by Monday, XX/XX/2020 the latest. Ms.XXXX   contacted me on Tuesday XXXX, XXXX, 2020 stating that she ran some scenarios but we did not qualify and wanted to know if there were any other numbers for her to run. She called back stating that we still didn't qualify and she was going to run additional numbers. During the call I asked for clarification on what numbers she was running, if she was pulling our credit multiple times, what debt was showing for her that would cause us not to be approved for any of those amounts. We currently only have two debts ( student loan and auto loan ) & a higher debt total was showing in her  numbers which was a contributing factor of why we werent being approved for any of the amounts requested. Ms. XXXX proceeded to inform me of credit card debt of single charges of {$29.00} with target and {$31.00} with another bank. It would have been understandable if there was a more significance balance that revolve on the card each month but that was not the case. This is self explanatory that a balance of {$29.00} would be paid prior to the end of the month. She said that if I was willing to provided proof that the credit cards are paid off she can remove them while she factors in our debt to income ratio. She also informed us that HOA fees were included in factoring our debt to income ratio although there was no specific property discussed or identified with Ms. XXXX. Nor was there any explanation on why that was being included in our debt total. She then hastily rushed me off the phone and notified me that she would run the numbers and get back with me. Hours later she sent an email with several different scenarios & informed us that we were denied and that we didn't qualify due to our debt to income ratio being too high. On the documents provided only my husband was listed as a borrower and only his income was included on all documents and scenarios. In one of the scenarios with just my husbands income we did meet criteria with the debt to income ratio she discussed but still was denied and no letter was provided. The numbers on the document also included numbers that increased our total debt total ( which increased our debt to income ratio ). I inquired why I was not listed as a borrower as we discussed and Ms. XXXX replied stating that I was included as well as my income but it is not showing with the documents that she provided. There was no further communication with Ms. XXXX after that. We thought it was an oversight or mistake that she provided documents only showing 1 income although it was clearly stated to include us both as borrowers. Ms. XXXX never rectified the situation after being notified nor did she send updated documentation.We never received a pre-qualifying letter or new documents of various scenarios showing us both as borrowers. On Tuesday, XX/XX/2020, I then called asking to speak with the manager of the branch regarding our experience and was able to get in touch with XXXX XXXX ( the branch manager ). I explained how we didn't have a great experience and how the numbers didn't add  up. He said he would review and call me back in few minutes. The manager called us back and stated that the numbers were all wrong and would refer us to the mortgage specialist for the branch and she would take over and further assist us in the process. I explained to the manager that things like this shouldn't happen and how this appears to be XXXX discrimination and incompetence on Ms. XXXX behalf. We began working with another specialist and received our pre-qualifying letter. Indeed we were actually approved. In the future things like this shouldn't happen. I like to point out that my husband and I have credit scores of XXXX & XXXX respectively, we are able to place 10 % down, we don't have significant debt, and we have an income well over 100k. If we were not inquisitive we would have walked away thinking that we currently can't afford to buy a home when indeed we can. We are sharing our experience so things like this don't happen to other people of XXXX trying to qualify to purchase a home. In Lieu of the times, and with all the injustices being done to XXXX people and people of XXXX I would hate to think that there are other people who have also been denied when seeking a home loan from XXXX XXXX XXXX & also when working with Ms. XXXX. The main reason we came to XXXX XXXX XXXX XXXX is because we heard from family, friends and other members how great of a experience they had with the bank. Also how educational, eager, and friendly everyone is throughout their experiences. Lastly, how everyone is so willing to help people with different needs especially with home loans.