Consumer complaint received 2024-02-27
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Loan estimate or other related disclosures
Company: NFM, INC (FL)

My credit report was accessed on both XX/XX/XXXX, and XX/XX/XXXX, without the timely provision of required disclosures, as stipulated by law. This violation, along with other issues, highlights potential breaches of fair lending practices, RESPA ( Real Estate Settlement Procedures Act ), TIL ( Truth in Lending Act ), and XXXX discriminatory practices. The following details my experience : On XX/XX/XXXX, I visited XXXX XXXX and was impressed by their showroom and community. Expressing interest in purchasing a unit, I discovered that financing options were limited to their approved lenders, NFM Lending and XXXX XXXX XXXX XXXX. As NFM Lending was the builder 's preferred lender, I received XXXX XXXX ' contact information for the preapproval process. 



To secure preapproval, XXXX required a credit report pull and a review of my financial documents, including W2 forms, bank statements, and pay stubs. Additionally, I completed a loan application on XX/XX/XXXX, disclosing my First Time Home Buyer certification completion and expressing interest in Down Payment Assistance programs. 



Despite my efforts, I initially faced obstacles as my Debt-to-Income ( DTI ) ratio exceeded guidelines due to high credit usage and an additional car in my name. Responding promptly, I reduced my debt and substantially refinanced my cars. However, I was informed that my debt was still excessive. Urging XXXX to review the documents again, she reluctantly agreed that my debt had reduced, allowing me to proceed with a contract with XXXX. 



Upon signing the contract on XX/XX/XXXX, communication from XXXX and NFM Lending associates abruptly ceased, leading to frustration on my part. Despite multiple attempts to contact her, there was no response. Eventually, my realtor sent an email on XX/XX/XXXX, expressing our discontent with the lack of communication and unprofessionalism. In response, XXXX XXXX, NFM Lending Branch Manager for the XXXX location, contacted me on XX/XX/XXXX, assuring me that she would take over the process to ensure respectful treatment. 



Regrettably, neither XXXX XXXX nor XXXX XXXX provided the loan disclosures required by law within three business days. I finally received the initial loan disclosures almost five months after the initial application submission on XX/XX/XXXX. This delay violated RESPA, TIL, and Fair Housing guidelines. 



Moreover, I raise concerns that the mistreatment and lack of communication may be influenced by my non-Hispanic background, a detail I disclosed in my initial loan application. All interactions were exclusively with XXXX sales associates, and on XX/XX/XXXX, I experienced an incident where XXXX hung up on me and my realtor when we identified ourselves during a call in XXXX, despite my language preference. 



In light of these issues, I request a thorough investigation into XXXX XXXX and NFM Lending for potential violations of fair lending practices, RESPA, TIL, Fair Housing, and any other relevant laws during this transaction. The investigation should focus on the discriminatory treatment based on my ethnicity and the failure to adhere to regulatory guidelines, including the delayed provision of required loan disclosures.