Consumer complaint received 2024-03-23
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Confusing or misleading advertising or marketing
Company: SOUTHSTATE CORPORATION (VA)

XXXX. I received XXXX XXXX ( XXXX ) contact information from XXXX XXXX on XX/XX/XXXX. At this point, I was looking at a condo in XXXX XXXX. This property was non-warrantable, and XXXX shared XXXX contact because they had worked together previously on non-warrantable condo loans. 
XXXX. I immediately contacted XXXX XXXX XXXX XXXX XXXX XXXX XXXX 
I later learned that the XXXX XXXX had a history of neglected repairs and decided not to proceed with that property. 
XXXX. On XX/XX/XXXXXXXX XXXX XXXX XXXX  I sent XXXX an email with a list of properties I was now considering. The list had the following properties : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX responded to my email at XXXX. His exact response ( and Im happy to provide the email ) was : XXXX XXXX. ALL those Homes will work for XXXX XXXX XXXX financing. I will work on figures later today. Thanks for your call earlier. This is a XXXX XXXX, we will service it. Not XXXX XXXX, FHA or USDA. 
XXXX. Once my offer on the property at XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX   and before we went under contract, Will, my Real Estate Agent, XXXX, and I had a XXXX way phone call where XXXX assured us that SouthState bank would approve a mortgage even with the current repairs being ongoing. He said XXXX XXXX can be used to purchase non-warrantable condominiums. Since we do not sell them, we review the condominium. 6. Nowhere in our various phone calls, text messages or emails did he say that the condominium had to meet all XXXX XXXX standards. He said during this phone call that they loosely followed XXXX XXXX standards. He mentioned how he had checked with his supervisor ( XXXX XXXX ) and the supervisor had confirmed that it was a project the bank could lend in. 
7. Feeling confident in everything Will had told me, my Real Estate Agent and the Listing Agent I proceeded with submitting a mortgage application with SouthState bank. Everything seemed to be going smoothly. I submitted every single item they were requesting within 30-60 minutes. We were scheduled to close on XX/XX/year> and everything seemed to be going well. 
8. On the morning of XX/XX/XXXX, 2 hours before we were scheduled to do our final walk through before closing, I received an email from XXXX saying the XXXX XXXX had been incorrectly filled out and he was working on getting it corrected but we were still scheduled to close on time. There was no hint of anything going wrong with my application.

9. My Real Estate Agent and I were still hopeful and we still did the final walk through. Remaining hopeful, we extended the time for closing. By the end of the day, my mortgage application was still not under final approval. We re-scheduled closing for the next day, XX/XX/XXXX. 
XXXX. On the evening of XX/XX/XXXX, I received a call from XXXX informing me that the mortgage wouldnt be approved because the property did not meet XXXX XXXX requirements. This was shocking to me after XXXX had told us several times that it didnt need to meet XXXX XXXX XXXX  From the beginning Will knew the condo was non-warrantable so it was a surprise for me to hear that it needed to meet XXXX XXXX standards to be approved for a XXXXXXXX XXXX 
11. I relied on XXXX professional experience and confidence to make an offer on this property. I now realize I shouldnt have. 
12. I am requesting the following : a ) A refund of the {$550.00} I paid for appraisal of the property. b ) Should the seller refuse to refund the {$10000.00} I paid as XXXX XXXX XXXX, reimbursement by SouthState bank of that amount. Should the seller agree to partially issue a refund, SouthState bank will reimburse the remaining unrefunded amount.