Consumer complaint received 2018-12-30
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: PROVIDENT FUNDING ASSOCIATES (PA)

I began shopping for a fixed conventional fixed mortgage in XXXX. XXXX fees were too high. I got a call from a company called XXXX XXXX in XXXX, pa. I think they are mortgage brokers. XXXX XXXX found an ok deal, not a great deal, with Provident Funding Associates, L.P.. THE LOAN #  was XXXX. I think provident is in California. I promptly provided them with all the documentation. I stressed to XXXX of XXXX XXXX that I needed to close by the end of the year because I wanted the fees to apply to this years taxes. On XX/XX/XXXX, XXXX did an appraisal. It took two week for the report to get done PROVIDENT chose the appraiser. The appraisal came back {$50000.00} less than the market value. My neighbor was placing her home on sale. Her home is 300 square feet smaller than mine. The realtor wanted to place hers on the market for {$230000.00}. XXXX appraised MY HOUSE for {$180000.00}, EBEN THOUGH MY HOUSE HAS 300 square feet more LIVING AREA THAN HER house, PLUS I HAVE a two car garage, my  house should go for at least . XXXX. XXXX even also says that. Five years ago my current lender appraised for {$200.00}. The values of homes have gone up considerably in five years, havent they? My home is in XXXX, pa. The employment in this area is stable with state government and major hospuals including XXXX XXXXXXXX university hospital in XXXX, Pa. A few months ago my neighbor chose to keep her home. On XX/XX/XXXX, I paid for another appraisal. So now Ive invested almost {$900.00} in these two appraisals which, at this point, are useless. I paid for these with credit card. I didnt expect to encounter these king of barriers. My credit is down now because of a lot of inquiries. I even had to send proof to PROVIDENT that I had {$50000.00} in my IRA accounts with XXXX XXXX   which I provided .my current loan with XXXX XXXX XXXX is adjustable HELOC so Id like to get a fixed ONE at this point I think it would be best to abandon refi and INSTEAD SELL the house. I owe {$15000.00}. I coukd clear {$40000.00}. I think the problem is age discrimination. I am XXXX years old. I still work, only one job now, instead of two. I get social security. I have the income to qualify. My FICO WAS XXXX. Its dropped now, I wanted to take a little cash and pay high interest credit cards,. So, Ive just increased the debt paying {$900.00} for appraisals that are useless. I think provident wanted to deny loan and directed the appraiser to bring it in low enough to make it look like Im underwater. Back in XX/XX/2018, I  reapplied for a new/ revised HELOC loan with my current lender XXXX XXXX XXXX XXXX . Everything was good to go but their underwriters said my proof of income, which is a XXXX from the XXXX XXXX XXXX XXXX XXXX XXXX, WAS FOR YEAR XXXX, and not recent enough. Im a statutory employee, work out of my home  office. My income is the number of certified copies of XXXX XXXX I supply to 16 XXXX XXXX in the XXXX, Pa area. The XXXX XXXX is doing well here. We have many elderly who are part of what XXXX XXXX called the Greatest Generation. These people are savers, very thrifty, PA XXXX   background. So, I make {$50000.00} a year, plus {$17000.00} in SS. AND A VERY SMALL ANNUITY OF {$2500.00} a year. So my income is about $ 70,0OO. I spoke with XXXX again. They recommended I reapply when I get a new XXXX  in XXXX, which is just around the corner. I thought the problem I would encounter would be a chapter XXXX BK five years ago, stemming from a business deal in which the partner defrauded me while we were attempting to flip properties. He used the money for his other properties and never put our them in the name if my LLC. I Had signed for the loans becUse my credit rating was XXXX in XXXX. But each lender says my BK wasnt a problem. I seriously think its my age. I plan on working until I die. Im a retired XXXX with a XXXX  XXXX, I enjoy the work Im doing as. local XXXX XXXX XXXX XXXX, and I do it well. Its a desk job I do at home. When my XXXX  gives me trouble I can rest and lie down. Governor XXXX appointed my commission is XXXX. Please tell me, am I the victim of age discrimination? Things just dont add up. I think I Priovident directed THEIR chosen appraiser to under value my house so they could deny the loan which they did with a prompt denial letter.