Consumer complaint received 2021-03-07
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: Lennar Financial Services, LLC (CA)

The issue I am having is with Lennar Mortgage, I believe their practice is considered " steering '' when it come to the " cross qualifying process. '' Second issue is that they have purposely delayed the process of being added onto the waiting list, which according to XXXX XXXX, has caused me to lose money due to interests have " gone up '' in the past week. I believe time is of the essence and Lennar Mortgage should act quickly to " cross qualify '' prospective buyers. 

For the first part, We are first time home buyers at a new community. We found a gorgeous home from Lennar Homes in XXXX, California. The first thing they wanted us to do was " Pre-qualify '' with their lender if we wanted to get on the VIP list. They insisted that we could not place and offer until we went through the " pre-qualifying process ''. So I sent all my paper work. 

I sent XXXX XXXX, a loan officer, our w-2 's for XXXX, my Tax returns for XXXX and XXXX, pay stubs at my job for the last 3 months, and also gave them a view of my savings and retirement accounts. I believe that was above and beyond for a " pre qualify ''. XXXX contacted me a couple days later ( we turned in all our paper work on XXXX ( XXXX ) on XX/XX/XXXX. Between that time tells the XXXX tells us that XXXX say that we would put 50 % down to get us into the VIP list. I saw this as a red flag. Why would a " pre-qualify '' require me to commit to a " option '' in order for me to prequalify. In order to pre qualify all is need is basic information to determine if a consumer can afford to pay for house. I sent him literally everything to get an approval. I had to ask XXXX if he saw everything that I sent him. I had to tell him to look at my Tax returns because I brought in more income than he was eluding to. He then took another couple days to go over the document, and when he finally responded back, this had to be a week later. He ran his numbers again and said that with the 20 % down payment, I would be 50.3 % DTI, which this is now turning into a play on numbers. so in theory I can afford this house, which is what would satisfy the pre-qualifying process. However, they were not satisfied with this outcome. They wanted me to select an " option ''. This is when I was incredibly upset. Why would they need me to select one of these options when a pre-qualifying only needs a basic acknowledgement that I can afford this house regardless of how I do so. XXXX also then goes to brag about how the Loan company that I went with could not give me that loan due to the fact that " interest rates has increased '' in the last week. Where I believe caused damages to me. 

So to discuss the option, they wanted me to either pay down XXXX worth of debt or increase the down payment to 35 %. In all fairness I can do either of that and still pay for the loan. But isn't that the issue, if all they are doing is " pre-qualifying '' me, why is it that they want me to PICK and option. It sounds like they have steered me into their lender. What would they use my decision on? To trap me if my " Pre-Approval with XXXX would fall through the cracks? What ever their intentions for selecting an " Option '' is for legal if not scare tactics if things didn't go their way.