Consumer complaint received 2019-07-04 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: CITIBANK, N.A.
State: IL

Complaint narrative:
XX/XX/2019, I called Citibank Mortgage to learn more about the companys interest rates and mortgage amount limits. My questions were answered by mortgage representative, XXXX XXXX NMLS ID # XXXX. As our conversation progressed, I made the decision to apply for a mortgage in the amount of {$31000.00}, this house was intended to be used as a rental property. During my application process I was asked my race and ethnicity, I was told that this information was voluntary but strongly encouraged so I answered the questions and identified myself as an XXXX American female. Shortly after the application was submitted, I received an email from XXXX XXXX asking for an explanation for a number of accounts that were on my credit report. I emailed XXXX back explaining that one account I was unsure what delinquency it represented but I would find out. The other two accounts in question I explained to her that they were both closed and had been closed for a number of years. Later that day on XX/XX/2019, I was asked to email my W-2s, check stubs, tax returns, etc. 

XX/XX/2019 I received an email from XXXX stating that the underwriter was requesting satisfactory verification of sufficient liquid assets, from an acceptable source of funds, in the amount of {$14000.00}. 

After emailing XXXX back asking her what was considered satisfactory verification, the amount requested changed. I was then asked to verify that I hadtotal of {$25000.00} in liquid assets. I thought that this was absurd since the mortgage loan I was requesting was for {$31000.00}. 

Soon after, I emailed XXXX statements verifying that I had {$41000.00} in liquid assets. Days went by with no response from XXXX. 

XX/XX/2019 I questioned the length of time it was taking for a re-approval letter and I was informed by XXXX that the typical turn around time was 3 days but there was a longer than expected wait time. 

XX/XX/2019 The house I wanted to buy was sold. 

XX/XX/2019, XXXX sent over an email stating that the verification amount had changed again. She explained that funds required to complete loan transaction were estimated at {$29000.00} and that I only verified funds of {$28000.00} and was short by {$1600.00}. She stated " Accounts that show as collections must be paid at or prior to closing. '' " Documentation of the credit cards being paid off would suffice and take the funds needed to verify down to {$28000.00}. '' Apparently, the underwriter took the total of the closed accounts and added it to the assets that I needed to verify. 

I emailed XXXX back to inform her that I had verified {$41000.00} and I was unsure what the issue was. XXXX informed me that my 403b balance was not included because they needed a more up to date statement. I was livid, because I am only issued a statement quarterly and I email XXXX the most recent one. But more importantly because they disregarded an entire account as they did the rent I receive from my current tenant. 

XX/XX/2019 I email XXXX XXXX documentations verifying that the accounts in question were closed and had been closed for a number of years. 

XX/XX/2019 XXXX sent an email stating The loan is not fully declined or approved. The underwriter is still looking to decline due to the delinquency of the accounts that you can not provide proof of paying. This is unacceptable payment history and the file is awaiting the audit of the underwriter review for a full decline or for the decision to be over turned. 
My issue is that throughout this entire process, I was never asked to provide proof that these accounts were paid, I was asked to prove that they were closed, which I did. 

At that time I requested to speak with a manager. I received a call from XXXX XXXX, who was very unhelpful. He told me that my application was going to be declined, and that he would try to get my decline expedited, even though I was previously told by XXXX that it would have a second review for a final decision. I was devastated, not because of the denial but because I felt alone and helpless. I knew that I was getting the run around and treated unfairly. Last year I was approved for a mortgage with XXXX XXXX, so I know that I can go to another institution but the distress that this entire process caused me was unreal. I answered every question and verified everything that I was asked to verify even when the requested information had changed. I have three accounts with Citibank, so I imagined this to be a professional and less damaging process but it wasnt. It just leaves me to believe that the decision was made out of discrimination and not my ability to pay the loan. 

XX/XX/2019 I sent XXXX an email to check to see if this application was officially closed. She responded " Not completely closed out. It shows it is still in second level review for full decline. You will receive the notice of the decline once it is completed. Have a safe and wonderful holiday! '' again I ask, if a second review has not taken place, how am I already denied?

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