Consumer complaint received 2025-05-02 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Loan estimate or other related disclosures
Company: PARAMOUNT RESIDENTIAL MORTGAGE GROUP
State: TN

Complaint narrative:
I picked the best option, however, this is in regards to a loan approval that I was given on or about XX/XX/XXXX. 
On or about XX/XX/XXXX, buyers XXXX & XXXX went to new lender after acceptance of offer. They went from XXXX to XXXX. XXXX approved buyer XXXX  without other buyer XXXX I did not receive notice until I was sent Assignment of Agreement Amendment on XX/XX/XXXX. I started asking questions and found out Loan Officer XXXX  worked with buyer XXXX  and approved him that were joint funds. Buyer XXXX  was going through a divorce and legal documents had to be in place before Buyer XXXX  was able to make a withdraw from the joint account. On XX/XX/XXXX I sent Loan Officer XXXX  an email asking questions, XXXX in particular can wife stop the purchase and would that affect the loan approval if Buyer XXXX  was not allowed access of joint funds to purchase a home. I received a response from Loan Officer XXXX, one in particular he states there is already an agreement, wife of Buyer XXXX  is has agreed to sign the interspousal deed within 24 hours but never transpired. Loan Officer XXXX also stated it was a mere formality for the Marital Settlement Agreement since there is a written agreement signed by both parties. Yet, I never received such an agreement. If so, why has Buyer XXXX not made a withdraw and open up a separate bank account? I have consulted with two family law attorneys and they reviewed the court records and both said don't sign the Assignment and it's never going to happen because the disclosures have not been submitted by wife and the time frame to get this done through the courts are weeks and that's if wife agrees with Buyer F making the withdraw from the joint account. Loan Officer XXXX  sends me another email on XX/XX/XXXX and states, it was always the plan for Buyer XXXX  to purchase a home on his own, which no one disclosed why is Buyer XXXX involved? Loan Officer XXXX states it was the previous lender 's mistake. Buyer XXXX put down the earnest deposit of {$13000.00} and I believe that Buyer XXXX  did not have access to the funds to put the down payment on their offer. Now Loan Officer XXXX   is requesting I remove Buyer XXXX and I am not willing to do that because she has the funds to close. Last word as of yesterday XX/XX/XXXX, they are waiting on the attorneys. I am upset because last night XX/XX/XXXX at midnight there were to remove all contingencies and as of today XX/XX/XXXX TN time XXXX ( XXXX hours ahead ), I hear nothing. I have put Loan Office XXXX  on notice that I am not willing to sign the Assignment on XX/XX/XXXX XXXX. If both buyer 's remove the all contingencies, I will have to go along until closing date of XX/XX/XXXX and wait for Buyer XXXX to get his funds to follow through on his purchase, if that happens. I don't want to wait and I feel Loan Officer XXXX  has put us in a very bad position not having our house on the market to attract another Buyer. Loan Officer XXXX made a statement in his email, he has done this many times. Even more upsetting, he knows nothing that is involved in a divorce, courts or attorneys every get down in a timely fashion and that's if no one changes their mind or says no. Even more upsetting Loan Officer XXXX makes a statement in his email dated XX/XX/XXXX XXXX " just the process of formalizing the documentation to satisfy the court case. '' I feel this is misrepresentation. Loan Officer XXXX should have never approved Buyer XXXX until all documents and funds were in place. Loan Officer XXXX said the reason why he wanted Buyer XXXX removed by way of Assignment is that she wanted to buy a home down the road. By my research on property tax records Buyer XXXX owns a home already. I am one of the sellers and I don't have Buyer XXXX  's loan number.

Company response to consumer: Closed with explanation