Consumer complaint received 2021-11-04
Product: Mortgage — VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: Shellpoint Partners, LLC (MA)

ME : XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, MA XXXX Home : XXXX Cell XXXX XXXX- Please feel free to contact me anyway at anytime between the hours of XXXX EST. 

I have to set the context of this complaint or it won't really be totally clear. 
XXXX XXXX  ) I have two separate complaints, one is with XXXX XXXX and the other is with a VA loan refinance via NewRes mortgage company , the company that bought my existing home loan with the previous mortgage company went Chap XXXX. 
XXXX XXXX XXXX This is about age discrimination and how it is in GOVERNMENT regulations regarding how these loans are granted. 

FACTS : I'm a XXXX XXXX XXXX  years of age and a XXXX. In this industry, when a XXXX XXXX  over the age of about XXXX finds themselves unemployed, it is very difficult to find full time employment again. Not impossible, but very difficult for most of us as companies want young people who will not only work for less, but they feel have the runway to work for their company for decades. I have been told this to my face by managers at more than one company. XXXX, just for example. But it's endemic in the industry- probably many others beside high tech, but certainly this one. What this means is that the average contract is typically XXXX months to a year. And between contracts if you are able to land a new job in XX/XX/XXXX months you're doing great. This is at a time when you really need to be able to save for retirement so there is a perpetual boom bust, pay off the bills you accrued during your last unemployment stint, and then run them up after your contract is over. If you leave contracts early, customers are NOT happy and you will likely not get a good reference- your next job is highly dependent on your last job. If you complain of ageism - Then you're a trouble maker. 

My problem with this agism, isn't so much how industry treats older workers as disposable, but more as how government regulations have really done a major disservice to older workers how are stuck in this ageism dilemma. 

Earlier this year, it was clear that my home heating system of forced hot air was making both my wife and daugher sick and had been for at least XXXX XXXX years. After bringing in a XXXX, he told me to rip out my whole forced hot air system and replace it. So I applied for a XXXX XXXX XX/XX/XXXX interest loan for ~ $ XXXX to replace with a heatpump and got it. Even though I have NEVER ( in my XXXX XXXX  history ) missed a loan payment, and had a credit score of high 700-mid 800s ( almost perfect ) and had a couple of hundred thousand dollars in the bank- I was denied the loan because at the time I was between contracts ( I am working a contract now ). When I work- if I work for a full year I would typically make about $ XXXX, but usually out for a few months every year. So DENIED.. now that is in a high interest loan now. They blamed XXXX XXXX and said the government set the standards for the loan. I wouldn't have done it if I had known this would happen- but you don't find out until the end. 

Next - I applied for a refinance of my VA loan ( standards also set by the US government ) to lower my mortgage- they by saving me tens of thousands in my mortgage and giving me some more money out of my property to finish other home improvement tasks as ultimately the value of my home will be my retirement. 

Both of these discriminate against people like me who can only get contract work, even though we have been both disciplined and a decades long proven track record of a responsible buyer. Thus punishing me for being old, as I would NEVER chose contract work - no medical, no benefits - my average medical insurance payments are $ {$2300.00} a month - now I'm dropping medical because I can't afford it in a gamble that I will make it to XXXX before something happens to me- but I will still have to get insurance for my wife and daughter. 

I know the people who came up with these programs didn't set out to punish older workers at a time they need programs like these the most - but it is clearly working out that way. I have made now several bad financial decisions because of believing that there would be reasonable terms on government loans and not being rejected as I am a XXXX as I am old.