Consumer complaint received 2024-06-24 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage — Application denials
Company: STATE EMPLOYEES CREDIT UNION
State: NC

Complaint narrative:
Tuesday XX/XX/year> My wife and I applied for a Mortgage Loan with the North Carolina State Employees located at XXXX XXXX XXXX XXXX XXXX NC XXXX. Loan application # XXXX amount applied for {$150000.00} Senior Mortgage loan specialist XXXX XXXX ( XXXX # XXXX ) Saturday XX/XX/year> I received an email from XXXX XXXX stating that we had been approved. See email : XXXX XXXX XXXX & XXXX XXXX, Congratulations! You have been approved for a mortgage loan with State Employees Credit Union. You should receive an email from XXXX that contains instructions on how to access and electronically sign your disclosures. Please let me know if you do not receive this email and/or if the link within the email has expired. Underwriting and closing will be contingent upon a thorough review and verification of provided information and the subject property. The loan was then turned over to XXXX XXXX on XX/XX/year> to assist us through the mortgage process. We e-signed all documents only to discover that NOW we did not qualify for the {$150000.00}. My wife and I had to do a second application for a lesser amount of {$60000.00}. Just as we did for the first application we e-signed and were approved. The request was for home improvements to a very old home that we would like to renovate. There is no money owed on the home and the property value is listed at {$170000.00} My credit score is XXXX and my wife 's XXXX. Yet we were still denied the loan after receiving XXXX approvals, We have had many loans with North Carolina State Employees Credit Union and always paid on time and have been in good standing. The reason they said they denied the loan was because the home we want to renovate did not have central heat and heated by was of gas. The home in which we live in is paid in full. If that was the case then why were we not told of this before we applied and they approved both loans. 
Although we only wanted to do a XXXX year loan and not XXXX, I guess when they saw that my wife is going on XXXX and I will soon be XXXX they decided they did not want to give us a loan, I just want someone to make it make sense. We have good credit, deeds clear and free and we paid off the items they requested for us to pay off and I had to get the gas company to move the gas tank back just to prove to them that the house had sufficient heat source, for them to send a denial. I am out of money and time. See denial received. 

Mortgage Processing From : XXXX To : XXXX ', XXXX ' Cc : XXXX, XXXX XXXX XXXX XXXXXX/XX/XXXX at XXXX PM Good afternoon, The appraisal report for XXXX XXXX XXXX XXXX XXXX XXXX XXXX has been returned to us, and I have attached a copy along with a cover letter. Upon further review from our underwriting department, we will not be able to proceed with the loan as the heat source is not permanently affixed to the home. 



If you have any additional questions, please email XXXX and copy XXXX. 

Thank you, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Phone : ( XXXX ) XXXX Fax : ( XXXX ) XXXX Office Hours : XXXX AM to XXXX PM, XXXX XXXX XXXX

Company response to consumer: Closed with explanation