Consumer complaint received 2022-05-19
Product: Mortgage — VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: PENTAGON FEDERAL CREDIT UNION (CA)

Dear Sir/Madam : Hello, I am XXXX XXXX XXXX which I am submitting this complaint against Pentagon Federal Credit Union ( PENFED ), as I feel wholeheartedly, they had direct and indirect responsibility of me forfeiting and the loss of {$8000.00} that comprise of my earnest and due diligence fee in my attempt for a mortgage loan which they denied after taking approximately 32+ days, since notifying me of a pre-approval and missing a significant deadline date for as relates to due-diligence deadline - for the buyer. 

Throughout my email communication numerous of times I have email them for a status of my loan application. Moreover, me informing PENFED, from my initial contact of going with PENFED instead of XXXX XXXX ; whereby, I had already received a guaranteed approval, because I was a longtime customer of PENFED. Moreover, I informed XXXX XXXX that I decided to go with PENFED for a mortgage, since I was long time customer of PENFED. In addition, it had taken PENFED 30+ days to provide mortgage denial - as I was very proactive and timely in providing necessary documentation and communicating. Though, i was prompt and timely PENFED fail to be timely in their communication ; if they were could have prevented the loss of {$8000.00} which I am seeking for a full and or partial refund. Lastly, my last PENFED Team : In regard to your response- I still disagree with your response : PENFED FIRST STATEMENT : As I stated on the phone call, you had an entire team of PenFed employees trying to make this loan work for you in a way that is allowable by the VAXXXX From loan officers, loan processors, underwriters, and all of their managers to our senior loan analysts and secondary marketing teams which work as a liaison between PenFed and the VA  on their guidelines and requirements, we truly exhausted all options to try and move forward for you and your family. Even though the decision was delayed, you were informed each step of the way what was happening and why based on the notes in the loan and communication I was included on via email. 
Response : If all of these PENFED representatives were involved exhausting all options : Please provide proof and acknowledgement provided other options to me in or to get this loan approved? Secondly, with all PENFED Representatives involved- why was there a delay? Moreover, if all PENFED representatives were involved and exhausted- why was not offered other options i.e., such as co-borrower ( s ) and or option to go conventional? Moreover, as relates to meet the deadlines of my purchase agreement. 
" PENFED acknowledges the decision was delay '' ; this is truly negligent on PENFED behalf! Especially, if all team members which you are stating reviewing my application and exhausting all options! 
Request PENFED provide proof that I was informed each step-of-the way? I the customer, sent emails requesting an update to my loan application- not once did my loan officer explain to me via verbal and or written communication - PENFED process each step of the process - again negligence on part of PENFED PENFED SECOND STATEMENT : When XXXX received the loan in her space, she clearly communicated what the application stated and requested documents based on that information. When you informed her that some information was not accurate and she made the necessary adjustments, the loan was no longer eligible. Your PenFed Pre-Approval Letter was also based on the stated income and assets on your initial application. When confirming these amounts with you and obtaining the needed documentation, the Pre-Approval Letter then becomes invalid due to changes in these amounts. When escalating to underwriting and their superiors to see if there was a way to approve the loan that we had not discovered, it was further determined that the credit history also came into play and impacted the loan approvability with the current VA lending guidelines. 
Response : Communication of Assets, Income, and Expenses clarification and validation. 
PENFED acknowledges ; as stated above " the loan was no longer eligible '' ; If so, why was I not informed and provided other options? XXXX notified Customer 18 days after my initial pre-approval see email dated XXXX XX/XX/XXXX ; this relates to PENFED acknowledging their failures, delays, and negligence! Why did it take 18 days for PENFED to discover and acknowledge? Why If PENFED Representatives ( loan officers, loan processors, underwriters, and all of their managers to our senior loan analysts and secondary marketing teams ), as being stated ; with all these personnel working and providing 100 % and exhausting their effort : why were there delays? 
why did take 18+ days needing to validate my application? why was I not denied within timely and reasonable timeline- in relationship with my initial application and pre-approval? 

*NOTE : 100 % failure and negligence at every level! 
No delays, which PENFED acknowledges there were delays, PENFED stating " all representatives working on my behalf and exhausting their efforts '' ; Why were there delays? Why did it take 18+ days to notify the customer of any application and validate assets, expenses, and incomes? Note : 100 % PENFED Negligence NOTE : Acknowledging, no delays, " Time is of the Essence '' ; and all PENFED representatives ( supervisors and managers ) exhausting all options on my behalf ; - why are we at this juncture? why was not given other options? Why am I out of {$8000.00}? if PENFED was not negligent ; PENFED would have provided the customer ( XXXX XXXX ) other timely option ( s ) : ( 1 ) Add a Co-Borrower, ( 2 ) Cancel the contract, ( 3 ) Look for other Mortgage Provider i.e., XXXX XXXX XXXX, and XXXX XXXX ( 4 ) Other loan types i.e., conventional.

( 5 ) Customer would not have to submit this complaint, and ( 6 ) PENFED would not be negligent ; nor spend and exhaust precious time responding to my complaint, while utilizing this same time working with other customers/borrowers PENFED THIRD STATEMENT : There are various clauses in a contract to protect buyers and that allow for buyers to recover their earnest and due diligence money based on financing or other points, but I did not see this listed in your contract. There was actually a segment outlined and boxed on the contract stating that the contract was not contingent upon financing ( p5 ). In speaking with you, I completely understand why the waiver of the VA financing agreement was made as well in a market such as this where its harder and harder to be competitive in making an offer on a home purchase. As always, we do recommend talking to your real estate agent or an attorney for the best information about the possibility of recovering these fees.

Response : First, as a consumer, who purchase real estate ( main residence and rental properties ) in the past - never it has taken 30+ days for full approval and or being denied, and the bank ( s ) providing me or my realtor timely responses. Thus, providing timely response so that as the buyer I can make timely decisions in order to back out of a real estate purchase. 

Furthermore, the seller and buyer can engage in any type of agreements while protecting each other. This does not excuse the lender acknowledging and adhering to the customer purchase agreement while engaging in purchasing real estate- and the bank ( PENFED ) being accountable and responsible providing timely responses and decisions to prevent breach of contract ; meeting the customer deadlines ; and or allowing the buyer ( XXXX XXXX ) ample amount of time to seek other alternatives and or canceling the contract. 

This is transparent as PENFED acknowledges their delays - without providing real and concrete reason for the delay and stating all PENFED personnel trying to help process loan for approval. There were failures that resulted in PENFED being negligent. PENFED was timely in there response outcomes would have been different : ould have provided : ( 1 ) PENFED timely information and responses : allow the buyer ( XXXX XXXX ) in this case allow me to make timely decision ( s ) going with another lender such as XXXX XXXX  ; thus, preventing the loss of {$8000.00} and or meeting closing date and purchase of propety ( 2 ) PENFED is unable to provide relevant and concrete reasons for their delays which ultimately infringed on the borrower ( XXXX XXXX ) and his agent ample amount of time to make other reasonable, formable and timely decisions to prevent a breach a contract ( 3 ) In all contracts and agreements " Time is of the Essence '' ; PENFED acknowledge their delays without concrete reasons provided to the customer ; therefore, is negligent on their behalf, and most importantly, to the customer With this being stated ; PENFED response at your levels is not acceptable! Moreover, I am requesting addressing this matter to most PENFED Senior Leadership. PENFED negligence is unbelievable and unimaginable an organization of its size and various levels of leadership - allow the unconceivable, inconsistences and negligence in timely responses and inability of preventing these types of failures without any accountability! 

This is why, my concerns, frustrations and complaints needing to move forward through PENFED complaint processing and even to senior leadership and possibly legal arbitration, if necessary. It is with deep and strong sincerity in utilizing all necessary tools in an attempt to recoup my losses ; more importantly, flagrant abuse and negligence does not occur again, and customers do not experience this type of situation. Because there were failures, lack of protocol and accountability and negligence on behalf of PENFED- this could have been avoided! 

V/R XXXX XXXX XXXX XXXX -- -Original Message -- -- - From : XXXX, XXXX XXXX XXXX : XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX ; XXXX, XXXX XXXX ; XXXX, XXXX XXXX Cc : XXXX XXXX XXXX XXXX ; XXXX, XXXX XXXX XXXX : Mon XXXX XX/XX/XXXX XXXX XXXX XXXX : XXXX : [ XXXX ] XXXX XXXX Official Complaint - PENFED Mortgage Loan Denial XXXX XXXX XXXX XXXXXXXX XXXX XXXXXXXX XXXX XXXX XXXX, Thank you for speaking with me today XXXX Unfortunately, the decline on the loan was at a time that didnt permit you to recover the due diligence or earnest money amounts, but I do appreciate you listening to the reasons why this came after the allowable date on your contract. As I stated on the phone call, you had an entire team of PenFed employees trying to make this loan work for you in a way that is allowable by the VA. From loan officers, loan processors, underwriters, and all of their managers to our senior loan analysts and secondary marketing teams which work as a liaison between PenFed and the VA on their guidelines and requirements, we truly exhausted all options to try and move forward for you and your family. Even though the decision was delayed, you were informed each step of the way what was happening and why based on the notes in the loan and communication I was included on via email. 

When XXXX received the loan in her space, she clearly communicated what the application stated and requested documents based on that information. When you informed her that some information was not accurate and she made the necessary adjustments, the loan was no longer eligible. Your PenFed Pre-Approval Letter was also based on the stated income and assets on your initial application. When confirming these amounts with you and obtaining the needed documentation, the Pre-Approval Letter then becomes invalid due to changes in these amounts. When escalating to underwriting and their superiors to see if there was a way to approve the loan that we had not discovered, it was further determined that the credit history also came into play and impacted the loan approvability with the current VA lending guidelines. 

Due to not only overstated income and assets being on the initial application, but also a credit history that didnt fit within the approvable guidelines, we were forced to decline the loan for further consideration. We still wished to help you, though. We did make contact with your realtor and let them know as soon as you found a new lender to approve your loan, we would immediately transfer the appraisal report to them to allow for the quickest closing possible for you. At that time, your realtor informed XXXX that you had already looked at other lenders and their options, but it was ultimately determined that you would not be able to move forward with an approved decision with any of them either. 

I know many times there are clauses in contracts that allow for buyers to recover their earnest and due diligence money based on financing or other points, but I did not see this listed in your contract. There was actually a segment outlined and boxed on the contract stating that the contract was not contingent upon financing ( p5 ). In speaking with you, I completely understand why the waiver of the VA financing agreement was made as well in a market such as this where its harder and harder to be competitive in making an offer on a home purchase. As always, we do recommend talking to your real estate agent or an attorney for the best information about the possibility of recovering these fees. 

For your reference, I have sent you the Pre-Approval and the initial loan application with stated income and assets in excess of actual amounts via your loan portal ( not the PenFed banking login ) to protect your personally identifiable information. I hope these documents will help show where the discrepancies were from Pre-Approval to actual loan review. Please feel free to reach out to me or XXXX, my manager, with any further questions you may have. Noels information is listed below for your convenience. 

Based on our conversation, I know the decline was not the biggest concern you had with how we conducted business for you. I am aware that you have issues with the timeliness of the decline when you felt you properly followed up on all levels and were pushed past the application phase for further review. We will work with out loan officer partners on expectations and a properly detailed application to ensure this does not happen again. 

Thank you, If you do not feel your expectations are being met please reach out to my Manager, XXXX XXXX at XXXX, XXXX or contact our XXXX XXXX XXXX XXXX XXXX  on XXXX, XXXX. 

XXXX XXXX LXXXX XXXX XXXX XXXX XXXX : XXXXXXXX XXXX XXXX XXXX XXXX XXXXXXXX Office Hours : XXXX XXXX XXXX, M-F XXXX XXXX XXXX, XXXX XXXX XXXX XXXX XXXXXXXX XXXX Email XXXX XXXX XX/XX/XXXX : PENFED Team : Good afternoon/morning! First, thank you for your time and understanding. In regard to my official compliant and additional information. I want to add the following : PENFED Statement of Credit Denial. I received a copy of my credit denials- see attach. Based upon the information provided reason for my denial provide pause - as it relates to following : My Questions/ Concerns : In accordance with ( XXXX ) XXXX and XXXX XXXX : PENFED / XXXX inquiry / pulled my credit report and XXXX Credit Report on or about XXXX XX/XX/XXXX PENFED Denial : 32 Days passed since, my initial PENFED pre-approval Credit and Credit History : Known by PENFED on or XXXX XXXX XXXX XX/XX/XXXX Employment and Employment History : Current Employer / Employment History : clearly stated on my application which submitted on or about XXXX XX/XX/XXXX This provide me pause and raise additional questions and concerns : how I would receive a pre-approval which taken approximately one ( 1 ) day to be given by PENFED knowing my income, credit, and employment history? In addition, taken additional 30+ days to be denied? 

Again, I must reiterate and restate the following : First : did have to take 30+ days to inform the customer ( XXXX XXXX XXXX and his Realtor Agent that he was denied and or to determine his denial? 
Secondly, could a decision have been made much sooner ; and or been provided additional loan options such as adding a co-borrower- which I was never asked by PENFED? 
Why as the customer had to wait this long for a denial- when PENFED had all information needed to make a formable decision? Moreover, PENFED was given a copy of customer/buyer Purchase Contract informing and stating the following : " Time is of the Essence. '' to prevent and avoid a " Breach of Contract '', which did not happen because PENFED was not timely in their communication of credit denial to the customer/buyer and or PENFED and their representatives was not cognizant to the customer/buyer Purchase Agreement and did not perform their " Due Diligence '' to ensure customer/buyer where compliant and meet his obligation in meeting the purchase contract requirements. 

I am notifying PENFED this matter is not going away- it is disappointing, aggravating, upsetting, and I am truly angered knowing this matter could been resolved professionally and in a timely manner. Therefore, acknowledging, accepting, knowing and understanding " Time is of the Essence '' and obligations by each party of a real estate purchase contract. 

I am and will escalate this matter to other authorities and agencies to get his matter resolved in attempt to be reimbursed for the monies that I lost - due to breach of contract which I honestly and truly believe could have been avoided! Bottom-line, as a customer for 30+ years, I have lost all faith in PENFED ; moreover, your organization is too big and should have processes in-place to prevent to this to happen - for any customer! 

Very Respectfully, XXXX XXXX XXXX Email Dated XXXX XX/XX/XXXX : XXXX XXXX : Good afternoon! Thank you again for reaching out. I will try to gather some information ( dates, emails, telephone call timelines ) as additional support of my complaint : XX/XX/XXXX XX/XX/XXXX : Initial Contact XXXX  Providing brief financial history ; reasoning going with PENFED w/my XXXXXXXX XXXX Pre-Approval Guarantied XXXX XX/XX/XXXX : XXXX Notifying Approval XXXX XX/XX/XXXX : PENFED provided a copy of Purchase Contract stating w/ Due Diligence Date XXXX XX/XX/XXXX XXXX XX/XX/XXXX : Notification of Closing Date XXXX XX/XX/XXXX : Checking in Status of Application *Note : 6 Days before expiration of Due Diligence expiration date ; no communication to myself and realtor 8 Days has passed since initial approval without no questions, concerns and validation of reporting of my assets and income 8 Days since approval ; of any major questions or concerns of my ability of being finance via VA 8 Days since approval and not being inform if Appraisal been requested or ordered 8 Days since approval ; customer and realtor still thinking - no problems of being fully approve *Note : XXXX XX/XX/XXXX, and 15 Days as Passed, since receipt of initial approval Questions/ Concerns of my reported assets and income are raised No discussion and or the possibility of not being able to get via VA financing ; communicating to PENFED during my initial phone communications via telephone calls as it relates to my current employment, living and working arrangements, and income source No discussion and question of needing to increase of my down payment for approval, noticing on my PENFED Dashboard the amount being financed changes from various amounts i.e., {$250000.00} to {$240000.00}, and {$230000.00} Due Diligence Date passed ( XXXX XX/XX/XXXX ) ; Customer and Realtor still believing no real problem existing for full approval *Note : PENFED Mortgage Competitor XXXX XXXX ( XXXX XXXX ), who consistently communicating with me since they provided me their guaranteed pre-approval, and or they will provide me {$1000.00} in XX/XX/XXXX ; As of Monday XXXX XXXX when notified by PENFED unable move on with my application; throughout she consistently and in timely manner followed-up with me- even though I had informed her that I decided to go with my banking institution PENFED because I been a customer with them for 30+ years! but, still she remain involved *Note : Week During XXXX - XXXX XX/XX/XXXX : XX/XX/XXXX Days has Passed since initial approval Customer : knowing Due Diligence Period has passed ; knowing the possibility loss of Due Diligence and Earnest Money , while communicating to PENFED Loan Officer and her response " you should not lose '' Customer remains patiently - still thinking he will be approved ; realtor still thinking he will be approved Customer coordinating and making flight arrangements ; Backyards Preparing and planning in preparation to relocate ( utilities, furniture and personal items ) to be shipped ; also, coordinating with immediately family members ( Siblings ) for their assistance - due to my vacation and return to work schedule Customer via email ; asking and begging for possibility of 97 % assurances, if going to be fully approved ; otherwise go with PENFED competitor XXXX XXXX- knowing XXXX XXXX closing date was approaching Customer worrying and stressing while contemplating providing PENFED notification of canceling my application and moving to XXXX XXXX hoping to revive the purchase and no need in adjusting closing date ; most importantly not to lose {$8000.00} ( Due Diligence and Earnest Money ) XXXX XXXX : Per above is somewhat of a timeline that explains why I am so angry and utterly upset- there is not enough words and feelings that can explain " how I feel right now '' and not to mention of losing {$8000.00} which I honestly and truly believe this could have been avoiding and or possibly a way out to revive this purchase and not losing the time, and money. Also, this is not my first home purchase ( XXXX, and two rental property purchases in XXXX ) ; never after 28+ days - either my mortgage provider on each purchase - taken so long during real estate purchase knowing what is at stake for the buyer, and the seller. 

Furthermore, my wife who is just as angry and upset ; as state above- all my home purchase mortgage provider would have informed me within 7 to 14 Days of the following : XXXX XXXX XXXX we need to add your wife which would help with her income ; and or XXXX XXXX XXXX we might need to go conventional - as such for my primary residence here in XXXX XXXX which I sold. 

Also, let me mention regarding the various questions which PENFED was asking regarding assets and income- the information was told verbally and possibly during various email communications. As stated, I had an opportunity to switch to Rocket Mortgage, but know I wanted so much to stay with PENFED, but if I would have changed my decision within XXXX - XXXX XX/XX/XXXX ; honestly and truly believe ; today, my wife and I would not be feeling as we do right now - a lost opportunity and {$8000.00}, down the drain! 

As another opportunity to support my frustration and anger ; I went to another PENFED Competitor - XXXX XXXX XXXX, XXXXXXXX XXXX  - within 48 hours after providing them same documentation as I did for PENFED. Again, either XXXXXXXX XXXX  and or XXXX XXXX XXXX  would have given me options ; whereby, could have avoided a breach of contract ; and not losing {$8000.00}! 

I provided much information ( Note : not-with-standing telephone calls timelines ) and explained my sincere unhappiness, anger and frustration's- again, I firmly believe this could have been handled in a much timelier manner. Also, let me mention contacting the seller and explain to them - my deepest sincerity that my realtor and me having to inform them at the 11th hour ; and me begging, what is the feasibility of recouping some of money, which I am really embarrassed. But we had contract and I understand and respect. Moreover, the additional expenses they would incur- which probably I could be responsible, if they want to take it to court. 

Thank you- which I will never do business with PENFED specifically with a mortgage. I am going to continue to voice my concern to highest level of PENFED Leadership ; moreover, I would ask everyone from XXXX to XXXX ; along their immediate, middle and senior leadership - put themselves in my/our shoes " how would they feel? 

Very Respectfully, XXXX XXXX XXXX From : XXXX XXXX XXXX Sent : Tuesday, XX/XX/XXXX XXXX AM To : Young, XXXX XXXX XXXX ; XXXX XXXX XXXX XXXX XXXX ; XXXX, XXXX XXXX ; XXXX, XXXX XXXX XXXX XXXX, XXXX XXXX XXXX : XXXX XXXX XXXX Subject : [ EXTERNAL XXXX XXXX XXXX Official Complaint - PENFED Mortgage Loan Denial XXXX XXXX XXXX XXXXXXXX XXXX  XXXX : Good morning! First and foremost, I want to thank you for your time and understand on this very important matter. I am writing this email after several days upon me being notified that PENFED is unable to move forward with my purchase and the loss of {$8000.00} because of breach of contract. 

As a long standing PENFED customer and just an ordinary individual, who was looking forward transitioning all my financial needs to PENFED ; there are not enough words and sincere feelings than I am expressing ; how frustrated and angry that I am feeling- with the forfeiture of {$8000.00} ( Due Diligence and Earnest Money ) due to the breach of contract. These funds were part of my savings with PENFED that derived from the sale of my home here in XXXX which I hope my family would relocate to the XXXXXXXX XXXX XXXX area. 

This is why, as stated above since PENFED notification to me unable to move forward with my application, and until present day ( date of this email ) to honestly express how outrageous and upsetting, I feel with the loss of {$8000.00} which I honestly believe could have been prevented prior to my contract due diligence deadline of XXXX XX/XX/XXXX ; note see Purchase Contract Page 2, and 5 para 4 Buyer Due Diligence Process, where " time is of the essence '', boldly stated in my contract that was provided to PENFED/XXXX. XXXX XXXX. Furthermore, with me needing to question : Initial Pre-Approval received from XXXX. XXXX XXXX - was it truly a good and guaranteed pre-approval that took in account me of my situation- which was clearing stated verbally : Current Main Residence in XXXX and working overseas in XXXX Plan were to relocate to XXXXXXXX XXXX XXXX  XXXX as I have immediate family ( Son and Daughter ), who resides within an hour Moreover, though I live in XXXX, I have always worked overseas and or on the East Coast Telephone Calls : without prompt and timely responses Additional Down Payment : approximately 3 weeks-ago ; whereby, XXXX XXXX XXXX contacted me via phone ; needing additional down payment to get " an approval through PENFED underwriting system '' ; my reply, which I responded at the " 11th Hour '' ; I am being ask this ; but I agree whatever it takes to get a final approval, as the deadline for closing was coming up. 
Communication to/with PENFED/XXXX XXXX XXXX ; informing here I am risk of losing my Due Diligence and Earnest Money ; which he she stated that I should not lose ; well, I have lost and forfeited these funds after being notified by PENFED. 
Now, on the other hand, I had a guaranteed pre-approval which was provided to PENFED/XXXX XXXX XXXX from XXXX XXXX, but know I selected and decided to go with PENFED ; why as I stated above ; since, I been a long-term ( 30+ years ) customer my plan was moving all financial needs to PENFED. I honestly believe this is an honest complaint whereby, this could have been prevented and me not losing my hard-working savings ( {$8000.00} ), it's like a punch in " gut ''. 

Furthermore, in regard to the additional question referred to PENFED Mortgage Center under my profile : Assets-Debt payoff Description : Paper trail how XXXX loan # XXXX was paid in full of from veterans accounts Answers : Paid through and by various accounts : via payment XXXX  website and XXXX from Customer Accounts ( XXXX, Penfed, and Credit Card XXXX Assets-Stock statement Description : Provide Complete TrowePrice XX/XX/XXXX Quarterly statement Answers : Provided Assets-EMD Description : Provide a copy of {$8000.00} earnest money deposit checks and corresponding asset statement showing a debit of the funds. 
Answers : Already provide information and documentation ; again, these payments were given from my XXXX Account via XXXX ; also, these funds were derived from employment earnings and remaining funds from the sale of main residence in California : *Note : if PENFED will conduct research ; I had couple of Certificate of Deposits ; moreover, a large deposit back in XXXX from the sale of main residence. 

Income-LOE Employment Gap Description XXXX Provide a letter of explanation for the gap in employment from XX/XX/XXXX to XX/XX/XXXX Answer : Provided XXXX and XXXX XXXX  W2s XXXX are one in the same company : XXXX XXXX is a subsidiary of XXXX XXXX XXXX Description : Provide a copy of the employment transfer agreement to XXXXXXXX XXXX  Answer : As previously stated since my retirement from XXXX XXXX and living in XXXX ; I have always worked ( Government Contracts w/Major Government Contractors : i.e. XXXX, XXXX, XXXX XXXX ) overseas and or on East Coast ; furthermore, this was never a problem during my purchase of my main residence in XXXX  and rental properties in XXXX 

Per initial conversation w/XXXX  XXXX XXXX I informed her of this information ; along with it is my sincere intent that I would certify my intent that I was going to move to XXXX as I do have family ( Son, Daughter, and grandchildren ) who resides within 1 to 2 hours in XXXXXXXX XXXX and XXXX, XXXX respectively ; moreover, my wife would eventually relocate to XXXX. 

Income-QM Paystubs/W2s-Two Years-Borrower Description : Provide XXXX W2 from XXXX Provided XXXX and XXXX XXXX W2s ; are one in the same company : XXXX XXXX is a subsidiary of XXXX ; Note XXXX I believe already provided Bottom-line ; I am very upset as this matter could have been resolved - prior to me having to forfeit my Due Diligence Fee and Earnest Money of {$8000.00}. Also, being informed by PENFEDXXXX  XXXX " that I should not lose '', knowingly and adhering to the customer Purchase Contract. 

Moreover, i believe that PENFED has some type of obligation to protect and ensure their customer deadlines are being met in accordance with the home purchase contract to prevent a customer as myself - forfeiting funds and ensure they are meeting the deadlines as prescribed by the purchase contract, as well as being reminded of " time is of the essence '' obligations. It was the intent of my realtor and specifically my intent - that I would be approved upon the back and forth of providing information and agreeing to the additional increase of down payment. - but later find out it was leading to my denial, and the frustration of me losing my hard earn money/savings. Lastly, I ask each and every one of you - put yourself in my shoes and situation " how would you feel knowing you would forfeit {$8000.00}? I am strongly considering of possibly seeking legal action regarding this matter - again, this could have been prevented!! I ask this complaint is filed with the strongest intent of it being investigated while providing me a responsible answer ( XXXX ) : what went wrong ; could it been prevented and how it can be improved for other customers in the future! 

Very Respectfully, XXXX