Consumer complaint received 2018-03-09
Product: Mortgage — Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: Caliber Home Loans, Inc. (NC)

I am writing this complaint for my husband, XXXX. 

I started working with XXXX XXXX, and XXXX at Caliber in XX/XX/XXXX ( when we still lived in XXXX ). We knew we were moving to XXXX and wanted to get a head start on house shopping. He pre-approved XXXX for a USDA home loan based on XXXX 's income in XXXX ( which was slightly more than it is here ). In case you do not know, USDA home loans are based on income ( https : //www.rd.usda.gov/files/RD-GRHLimitMap.pdf So we come here, put an offer in on a house with Due Diligence & Earnest Money ( Due Diligence money is paid to sellers in XXXX and is non-refundable ), pay for an appraisal and we are supposed to close on XXXX. I started seeing red flags about 2 weeks before closing ( like them asking for the employment letter for XXXX 's new job, which I sent to them in XXXX ) but when I asked XXXX he assured me it was no issue but did place the loan delay blame on his processor, XXXX XXXX. 

I asked XXXX back in XXXX if all they needed to close was the offer of employment letter and he said yes. So fast forward, ( I will skip all the micro-details for now ), we have conditional loan approval from the underwriter ( attached ), the Initial CD ( attached ) is emailed to us on XX/XX/XXXX because we are closing on XXXX. Well the Initial CD has a close date of XXXX so I immediately call and text the loan officer and no response at all. Called and texted his boss, XXXX XXXX, same thing - no response. Now it is way past XXXX XXXX   and I call a processing manager who's number I stumbled across and she pulls up the loan and said that they have everything except that they need a full month of paystubs from XXXX 's new job. Her name is XXXX XXXX. I asked XXXX if that is a USDA or Caliber condition and she told me it is a Caliber policy. She also told me that the loan can not be submitted to USDA for final approval until AFTER they have everything including 1 month of paystubs. 

But I was already told by XXXX that the loan was submitted to USDA on Friday and it is now Monday. ( I have text from him proving this ) Then a few hours later I get a call from XXXX 's bosses boss - XXXX XXXX who tells me that the loan is denied because XXXX makes too much money and USDA rejected the loan because of that. But I was just told a bit ago that it was never sent to USDA. 

We are getting different answers and XXXX makes less at this new job than in XXXX which is what was used for the preapproval. 

Then XXXX tells me that they can switch the loan to an FHA loan but it will take a few weeks. At this point, we are past our due diligence date but we could not trust Caliber to do what they say so we cancelled the loan with them. We got preapproved with another company but XXXXXXXX XXXX credit score dropped too much ( from them pulling XXXX XXXX  credit without permission, after this loan was cancelled ) and we did not like the interest rate so we cancelled the contract. 

We have lost money because of them and we want to be compensated for our losses. 

XXXX also never gave anyone at Caliber Home Loans permission to talk to me at all and they never contacted him, except for XX/XX/XXXX when XXXX called him about a fraud alert on his credit ( which never existed ). It was after the loan was cancelled and I started complaining to the Corporate Office that XXXX XXXX requested it.