Consumer complaint received 2018-09-06 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: NATIONSTAR MORTGAGE LLC
State: OR

Complaint narrative:
My parents have an assumable loan through Mr.Cooper formally known as Nationstar. We started the assumption process in XX/XX/XXXX. In XXXX my parents requestion the assumption packet from Mr. Cooper to start the process. They didnt receive it until 4 months later. That was after my parents called Mr. Cooper multiple times to send them the information. After my parents received the assumption packet my husband and I became involved. We sent them all our information ( copies of our social security cards, bank statements, paystubs, etc. ), and we did an application for a loan assumption. We are in XXXX now, and Mr. Cooper is still asking for documentation. They have sent us 4 packets requestion documentation, and a lot of it is repetitive information. They have asked 4 times now for 12 months of bank statement showing rental or mortgage payments. We sent it to them twice, and the third time, we sent them a letter stating that they should have it. They sent us another letter yesterday stating they needed it again because they lost it and had uploaded someone elses statmenta to our file. They also said they ran the wrong credit report for me, XXXX. They had my incorrect social and ran a credit report for someone else. They reran my credit without asking or allowing me to check the first report that they sent. They only had the incorrect social for myself, and they had the correct social for my husband but they ran the credit report again for both of us. They then proceeded to ask, after all of this, for another copy of our social security cards. They have sent us the same document 4 times To have us sign and return back to them. When I spoke to them on Tuesday, XX/XX/XXXX, they could not give me an accurate status of our application because it had not gone to underwriting yet. XXXX XXXX ( the person assigned to our file at Mr. Cooper XXXX said they are still collecting all the documents to send it to underwriting. 

The process as a whole has been going on for almost 10 months now, and my husband and I sold our home to assume this property. Our credit score is XX/XX/XXXX+ and we only have student loan debt. We both have decent paying jobs that, and we have had no issue qualifying for any sort of loan in the past. The information they are asking for at this point is outrageous. An example is that they are asking for documentation of ownership of bank accounts for both myself and my husband. We are joint owner on all of our bank accounts and they need to see proof, even though we have sent them bank statements with both our names on it. 

They are also being negligent with the information and documention we have given them. They are losing documentation with our private information on it, and they can not explain why they dont have it. Im also concerned about the other files that have been affected in the past as well. 

Finally, it seems like they are pushing the process further and further out to just make us refiniance or just purchase the home rather than assuming the property. The are asking for closing costs and a down payment still, so they are making some money in this assumption, as well as all the interest that is being paid over the life of the loan. It seems purposeful and intentional to discourage he assumption of the loan. We want to remodel the home and we cant get a line of credit to do that because the loan is not in our name, and my parents can not start construction on their new home on a different property because they need to get this loan off their credit to qualify for another loan. Its holding up the process and Mr. Cooper will not tell us if we qualify for the loan, when we will close, and what they are doing with our information.

Company response to consumer: Closed with explanation