Consumer complaint received 2016-03-22
Product: Mortgage — FHA mortgage
Issue: Application, originator, mortgage broker — 
Company: Guild Holdings Company (NV)

I recently went through Guild Mortgage for a loan to buy a house. First off, I was pre-approved for a loan through the company for {$260000.00}. We put in an offer on a house for {$230000.00} in XXXX and the seller accepted it. My loan officer XXXX XXXX tells helps me through the process and assures me the whole way through that everything is great. I have perfect credit, my DTI is good, income is good, everything is good. She tells me XX/XX/XXXX to go ahead and put my 30 day notice in to my landlord because we will be good to close by XX/XX/XXXX. One week before we were to close XXXX emailed us that the closing cost were going to be higher than she anticipated. That gave us another really big reason to worry that something was just not right here because she had told us that we would not have any closing cost due to a lender credit that we qualified for. She was now telling us that it would be {$3800.00} to close. We were trying to get in contact with her to find out what was going on because it sounded like now a week before closing we needed to have {$3800.00} to close. She would not return emails to my fiance and then finally emailed that she was trying to get the cost down and was able to get it down to {$2600.00} and would be meeting with the Title company to see if she could get it down under {$1000.00}. She then suggested several days later that we ask the seller to raise the sale price by {$5000.00} and do a closing credit for that {$5000.00} for closing cost. She said that this would be the best thing to do. As we were a week away from closing we took her word for it and agreed and asked the seller to do an addendum to which they agreed and we had done. She assured us we were still approved and we would still close on time as long as we got the paper signed and in to the underwriter by close of business on XXXX/XXXX/16. One day before I am to close and sign the loan papers for the house I get an email telling me that I am now being denied by the underwriter because FHA will not allow us to use an addendum to change the sales price and add a seller credit to the loan in addition to your debt to income ratio being excessive. Then we see the attachment that has the denial form that states we were denied because of my DTI and Income being too low for amount of credit being requested. When we went in for the pre-approval XXXX punched in all of my income and debt and gave me the amount that I was qualified for. We based everything, this whole process off of what she told us, what she told us to do. So how is it that one day before closing we are now not qualified? Additionally, an hour before she emailed us that we were denied she told our realtor that we were approved and would send over the approval letter in a few minutes.Then we find out that she had been in communication with the sellers listing agent repeatedly throughout the process including that very day. She had told him that we were denied and the reason why we were denied before she had even notified me. I have an email proving she sent our denial letter to the listing agent which I believe to be a breach of confidentiality and illegal. XXXX has been unethical throughout this entire process and cost us not only the house, but hundreds of dollars, time and the emotions of our family. I believe that besides being unethical and lying she broke the law in divulging my personal credit information to the sellers listing agent. She should never have sent him my denial letter listing the reasons that we were denied.