Consumer complaint received 2021-11-23
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: KEYCORP (OH)

Disabled and need help, In or around XX/XX/XXXX I applied for an application to refinance my home, I was denied credit by Keybank when a loan officer called me in or around XX/XX/XXXX and informed me of the denial and the reason for it stating that I had a lack of income as the reason for the denial. Further stating that the award letter I furnished from Social Security in regards to my disability wasn't sufficient because of income verification issues which she further elaborated and stated that because I am also receiving disability under workers compensation in the state of XXXX Id be able to only use around 38 % of the award benefit issued by Social Security and none of the XXXX income could be used as income verification and further stated that until workers comp stopped paying me that then and only then could I use the full award benefit from social security disability payments. This off-set amount of the award benefit is required by law between the state of XXXX XXXX and the federal Social security administration when receiving payments from both agencies. The details of this offset was arranged by my social security lawyer and is contained in detail in the award letter issued by social Security in or around XX/XX/XXXX and provided by me to KeyBank, my award amount is XXXX a month from social security and will be paid to me in full as soon as the XXXX dollars a month I'm receiving from XXXX is discontinued whenever that occurs in the future. Since there wont be any gap in-between receiving pmts ... once XXXX stops Ill receive the full amount of the ssdi award immediately, which is enough for the loan amount in the refi terms of the proposed refi loan in other words KeyBank calculated that the full amount of the ssdi benefit would be adequate for the new loan so I don't even need to use any of the XXXX income I'm receiving currently to qualify for the new loan they just wont let me use the full amount of the ssdi award I've been awarded. So in my opinion there discriminating against my public assistance income by not honoring the full amount of my award letter when there no reason not to, pointing to some policy they honor that prevents them from doing so from a realized income principle from XXXX XXXX. If that were true then anybody who follows down the same beaten path in regards to being injured on the job and receives XXXX income and is approved for Social Security disable would virtually be unable to access credit. That was the the first part of my complaint that I believe KeyBank is discriminating against me, KeyBank likewise also have discriminated against me by denying me on a XXXX loan that I applied for once they called and told me I had been denied on my refi application, I did this after talking to my branch KeyBank rep at XXXX XXXX XXXX XXXX who stating that there was more flexibility for them on the home equity line of credit side of loan underwriting for that kind of loan, so I was called XXXX days later by the same loan rep from the XXXX office who handles the mortgages she happens to be the same loan officer who called me and informed me of my initial refi denial a few weeks earlier she then proceeded to take my XXXX application. This is after having called me briefly on XX/XX/XXXX when hearing from the branch office in XXXX that I was going to consider a XXXX loan application she stated that she had checked with someone in the underwriting dept and that I shouldn't have a problem being able to use all of my ssdi award benefit on the XXXX loan, stating that a set of additional legal papers I produced from my XXXX lawyer which was separate and distinct from the previous mentioned award letter with off-set details I have already mentioned that I produced during my refi application, She proceeded to state that with the help of these additional legal documents from my XXXX attorney there wouldn't be a problem she had already got any answer from underwriting regarding the matter with the XXXX application. Then on XX/XX/XXXX loan rep from XXXX calls me and tells me my XXXX application has also been denied stating to me a new reason for the denial of the XXXX application using the word permanence in regards to the ssdi award stating on page XXXX of the award letter it states that social security plans on potentially reviewing my case in 5-7 years which effectively means the income could end at that point so they couldn't approve me.So basically KeyBank over the course of about a month of talks tells me first they can only use 38 % or so of my award benefit in the refi, then state that they could use the full award amount if and only if my XXXX income stopped being received. Then on another separate occasion they tell me they can use all of my ssdi benefit in a XXXX then on another separate occasion convey that there's an additionally problem with permanence because of the 5-7 year review then on another separate occasion thru a talk with the lending mgr. XXXX XXXX he proceeds to tell me last week XX/XX/XXXX that underwriting emailed him and stated that the award benefit from ssdi couldn't be used at all in any capacity no matter if my XXXX income stopped or not on the refi end or the XXXX end. That there was just a problem excepting that kind of income with a review set for 5-7 years away period and then makes the outlandish comment that there's also the potentially that if bwc income was discontinued in the very immediate future and at that time ssdi could simultaneously be discontinued because XXXX communicates with social security and when changes happen to XXXX it probably will happen to the other and the underwriter couldn't use any of the income of mine effectively that I have no income to qualify me for either loan all this after switching there positions numerous times throughout the month, having hear him I asked my XXXX lawyer and he told me if and when XXXX does stop paying me disability payments that it has nothing to do with the other stopping or one has nothing to do with the other. So KeyBank wont use public assistance from ssdi because of this offset of XXXX income between the XXXX income streams then they produce another reason to not use it it in that they have no guarantee either will last or continue into the future. Please I need help thank you.