Consumer complaint received 2017-01-26
Product: Mortgage — Conventional fixed mortgage
Issue: Application, originator, mortgage broker — 
Company: Great State Mortgage, LLC (NC)

I received pre-approval for a mortgage  from Great State M ortgage (  XXXX   XXXX  ) in  XXXX  NC, to purchase a home in  XXXX   XXXX  NC back in   XXXX   XXXX    wit h a closing date of   XXXX   XXXX   XXXX     and with 5 % down payment. Initially he ran the loan through  XXXX   XXXX    XXXX   out of Florida and the   XX/XX/XXXX closing date came and went as there were multiple conditions that were needed and met by myself.   Because of this, I decided to look for another lender to help the first part of  XXXX , and was able to get an initial pre-approval from him. In  XXXX   XXXX ,  XXXX  explained to me that he was now unable to get the approval because the file had been submitted too many times to underwriting ( at the time that number was  XXXX  by himself and  XXXX  ), and to too many different underwriters. The file was submitted at  one time t o  XXXX ,  XXXX , and to  XXXX    XXXX   all of which according to  XXXX  had given me approval. Because of the new denial,  XXXX  decided to re-run the file with himself being the lender. Evidently this took him resetting a PIN with  XXXX  and  XXXX  to accomplish, but he assured me this would provide the needed approvals with  XXXX , but it did not. I decided to go ahead with th e 2nd lend er in the  XX/XX/XXXX  ,   but was told he could no longer get the approval either due to the increasing number of submissions to the various underwriters. Once again I was assured by  XXXX  at  Great State Mo rtgage that he could the approval from  XXXX  with me paying 10 % down and paying off my  car ( about {$65000.00} +closing costs ).   This was ove r   XXXX    what  we initially got approval for, but by taking out a loan against my  XXXX , we were able to come up with the funds. This was  XXXX   XXXX , and I was assured by  XXXX  ( again ) we would " definitely '' be closed by  XXXX . Not the case. I even reached out to  XXXX  at  XXXX   XXXX   XXXX  to discuss the loan with him because of the lack of progress and communication, with the same assurances. However, about this time the  2nd lender  sent me an email with an approval for the mortgage with just the 10 % down. Because of the continued assurances by  XXXX  that the loan would be closing " any day '', I remained with him until the XX/XX/XXXX before moving ahead with the  2nd lender. At one poin t I received    XXXX   different  CDs, and was told by  XXXX  we had th e Clear to Close, but it neve r happened. The closing was scheduled with the attorney, but removed within a matter of a few hours because of " unmet '' conditions. There we re  XXXX  separate inspections on the house and a recertification of value because the appraisal expired, as well as multiple (  XXXX + ) hard  inquiries on my credit report as the reports expired, so my  credit score  dropped accordingly. Throughout this process, the communication was horrible. More weekends than not, we had no idea what the status of loan was, an d on  XXXX  different occasions I received updates from the seller who was contacted by Great State Mortgage. The  XXXX  lender was a ble to close this loan in a little less tha n   XXXX   week s, with a fraction of the conditions. The seller was unwilling to extend the rental agreement pa st  XX/XX/XXXX  a nd would have put the house on the market, forcing my family and I to look for another home. I have all of the correspondence with   XXXX  and his  team as well as the seller and realtor to validate the above if needed. I can not begin to explain the amount of undue  XXXX  this caused my wife, teenage daughter, and myself over the last  XXXX  months because of the continued lack of communication and false promises from this lender. I also feel he jeopardized my credit and the mortgage in his approach to this loan, including the excessive submission and his attempt to reset his PIN in order to do direct to consumer lending.   I look forward to discussing this in more detail.