Consumer complaint received 2022-08-12 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: PENTAGON FEDERAL CREDIT UNION
State: VA

Complaint narrative:
The XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, VA XXXX ( XXXX ) XXXX ; XXXX XX/XX/XXXX XXXX XXXX XXXX XXXX, Chairman PenFed Board of Directors XXXX XXXX XXXX XXXX XXXX, XXXX XXXX Subject : Improper Processing and withholding Necessary Information on PenFed Policies and Procedures to Extend the Mortgage Refinance Lock-In Agreement ( My letters dated XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX ; XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX ) Dear Chairman XXXX : Unfortunately, to date a satisfactory resolution has not been reached. As a result, I am respectfully coming back to you again for further review and consideration of my request based on the content of subject letters ( 6 ). 

This is in follow-up to my telephone and e-mail communication with members of your staff as you requested. To date and as previously stated my concerns have not been addressed. 

My ongoing outreach ( XX/XX/XXXX ) to address my concerns internally with regard and consideration to specified PenFed policies and guidelines have been disregarded. With this in mind, I am coming back to you with details as highlighted in my six previous letters for review, consideration in concert with the PenFed policies which I adhered to. 

However, the XX/XX/XXXXXXXX XXXX XXXX XXXX  team members that you referred me to never addressed the most important issues that I presented. Although I was not kept abreast or informed regarding the status of my application, I reached out for information and updates as highlighted below in my XX/XX/XXXX letter. 

I am also enclosing key excerpts of my e-mail communication with XXXX XXXX XXXX, Digital Mortgage Loan Officer, all information provided by XX/XX/XXXX XXXX XXXXXXXX XXXX ; XXXX XXXX XXXX, Settlement Pre-Processor ( XXXX, VA ), all information provided by XX/XX/XXXX, XXXX XXXX XXXX XXXX XXXX XXXX and XXXX XXXX XXXX, Contract Mortgage Processor ( XXXX, XXXX ), all information provided by XX/XX/XXXX. Appraisal completed on XX/XX/XXXX. I found out for the first time on XX/XX/XXXX based on my outreach to XXXX XXXX on XX/XX/XXXX for a status update that we are unable to complete your mortgage request due to the fact that there is an unresolved litigation against your condominium associationI proceeded immediately to request procedures ( e-mail and telephone requests ) to extend and/or /re-lock as appropriate. 

XXXX XXXX responded by stating that she did not have agreement extension/re-lock information readily available, did not want to provide incomplete or inaccurate information and would get back to me per my request. In spite of my repeated outreach, I never heard from XXXX XXXX again. 

I was within PenFed guidelines to request a Lock-in Agreement extension, which I did, prior to the XX/XX/XXXX expiration date, yet was ignored and denied access to financial services and information necessary to allow me to move forward. 

I remain confident that a thorough fair and impartial review of the circumstances associated with the issues I raised regarding my refinance application will confirm that I was subjectively denied crucial information and access to financial services that should have been made available to PenFed customers in my situation. 

The information and access I requested are available and remain viable through existing PenFed policies and procedures. My request to extend my Lock-In Agreement, Loan Number XXXX, Dated XX/XX/XXXX, past XX/XX/XXXX was ignored and never responded to. This is unacceptable. 

As previously highlighted, PenFed Policy states in-partIf your interest rate lock and this Agreement expire prior to your loan funding date, you will be subject to PenFeds interest relock policyMy communication confirms that although I requested the procedures and my desire to extend prior to the XX/XX/XXXX expiration date, I was denied the opportunity and procedures were never made available to me. 

As stated, my continuing goal is to settle my concerns expeditiously through internal PenFed policies. My consistent efforts to address these pressing concerns and obtain reconsideration began XX/XX/XXXX and continues to date ( XX/XX/XXXX ). 

As requested, I look forward to your decision regarding my request to move forward with my XX/XX/XXXX Refinance Application Agreement being reviewed for approval based on XX/XX/XXXX Lock-in-Agreement terms, timely submitted materials ( XXXX XXXX ) and accomplished on-site Appraisal ( XX/XX/XXXX ). 

I should Not have been required to complete a new XXXX application. Between XX/XX/XXXX XX/XX/XXXX, I submitted All requested and required materials to complete my application and to extend the Lock-in Agreement past XX/XX/XXXX had my request been responded to. Importantly, the litigation that prompted PenFeds denial letter was dismissed by the XXXX XXXX on XX/XX/XXXX. 

A review will support that non-responsiveness, neglect, failure to provide critical information by PenFed staff directly led to the XX/XX/XXXX refinance application denial. Those staff actions are responsible for the extenuating circumstances unique to my situation thus warranting an exception and immediate action to rectify the issues I have raised using my original XXXX Mortgage Refinance Application. This is my ongoing request. 

Again, I am respectfully requesting and relying on an internal PenFed review and decision under your leadership with involvement of XXXX XXXX XXXX, PenFed President & CEO based on the facts and background information provided in accordance and compliance with PenFed policies and procedures. 

I am confident that I have provided sufficient information to confirm that an extension could have been granted prior to the XX/XX/XXXX Lock-In Agreement expiration date. 

I look forward to hearing from you. Thank You. 


Sincerely, ( Signed ) PenFed Customer ( XXXX ) XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( Military and Civilian Equal Opportunity Policy ) XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Enclosed References : 1 ). Substantiating E-mail Communication ( in-part ) Confirming my Request to Obtain Costs to Extend Lock-in-Rate Agreement; Confirmation that due to my request for status on XX/XX/XXXX and outreach to Loan Officer, I learned about Denial Decision for the first time on XX/XX/XXXX and immediately requested information to extend the lock-in rate agreement. The loan officer stated that she wanted to provide complete and accurate information and would need to get back to me. I never heard back, yet I continued to follow-up. 
2 ). PenFed Credit Union Lock-In Agreement, Loan Number XXXX, Dated XX/XX/XXXX XXXX ). Statement of Credit Denial, Termination, or Change, Dated XX/XX/XXXX ( Determination Other Inadequate collateral Unacceptable property ), Loan Number XXXX. Document states that Denial was mailed on XX/XX/XXXX after my conversation with the Loan Officer and my request to extend the Agreement. 
4 ). Virginia Courts Case Information Dismissal ( XX/XX/XXXX ) The XXXX XXXX cc Distribution List : 1 ). XXXX XXXX XXXX, PenFed XXXX & XXXX, XXXX XXXX XXXX XXXX, XXXX, XXXX XXXXXXXX XXXX ). PenFed XXXX XXXX XXXX, XXXX XXXX XXXX, VA ( XXXX XXXX XXXX XXXX, Vice Chairman, XXXX XXXX XXXX, Treasurer, Lt. Col ( XXXX ) XXXX XXXX XXXX, XXXX XXXX XXXX XXXX ( XXXX. ), XXXX XXXX XXXX. XXXX, XXXX XXXX XXXX XXXX, XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX. ), XXXX XXXX XXXX XXXX, XXXX ( XXXX. ), XXXX XXXX XXXX XXXX XXXX, ( XXXX. ), XXXX XXXX XXXX XXXX ( XXXX )

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation