Consumer complaint received 2021-04-29
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: CITIZENS FINANCIAL GROUP, INC. (OH)

I applied for a construction loan with Citizens Bank in XXXX. At the time, I completed a full application, submitted all of my income & asset documents, along with a contract. The contract was unsigned because our lot was not approved by the city yet and the builder & I legally could not sign it, but the contract was agreed with in principle. 

In XXXX, the contract was finalized, signed and sent to Citizens Bank. In the middle of XXXX, my loan officer informed me that because of the new XXXX, we would have to complete a new application and the old one could no longer be used. I personally have worked in the mortgage industry for the last 17 years and know that's not a requirement, but decided to do it in case that was their company policy. 

On XX/XX/XXXX, my wife and I completed our full application, which included the 6 pieces of information that trigger TRID. Legally, Citizens had to disclose within 3 business days. They did not. My application documents that I received, including the Loan Estimate are dated for XX/XX/XXXX. 

I went extended periods of time with no updates. I had to consistently reach out for updates and seem to only get updates late at night or on weekends, which was odd. This past week, I decided enough was enough. I didn't even know if my loan had been to an underwriter and the staff at Citizens bank starting informing me they were missing documents and the loan had not even been to a processor, let alone an underwriter. 

I had written proof and logged emails demonstrating that they already had the items. Additionally, if they were missing items and I completed an application on XX/XX/XXXX, why was a Notice of Incomplete Application ( NOIA ) never sent out to me, which is legally required to be sent within 30 days? 

Over and over I have asked for updates, I have asked for management to get involved and I have failed to receive updates, given any timelines nor updates on my loan. As someone in the industry, that fully understands the complications and increase in volume we have seen over the past year and the additional obstacles with COVID, I have been patient and attempted to resolve these issues on my own. At this point, it is evident that Citizens Bank is not only OK with violating TRID laws with disclosures, but they certainly could care less about the consumer. From my seat and someone that believes keeping our industry filled with individuals of the highest integrity, this is completely unacceptable. 

CFPB needs to look into the practices of Citizens Bank and ensure other consumers do not face situations like this. I have the luxury of knowing the ins and outs of the industry since I have been a part of it for nearly two decades. The average consumer is not going to understand how to address issues and is going to have very negative impacts both financially and with their housing with this type of experience. 

Lastly, I can fully assure you that there is absolutely no issues with my qualifications that would be a cause for any sort of delay on the lending side. My wife and I have flawless credit, assets necessary for the transaction and our debt-to-income ratios are incredibly low with all the necessary requirements for employment history, including long-term history of employment at the same employer. This is simply negligence on the side of the lender. I can provide any documentation necessary to support my feedback because I have it and it's organized.