Consumer complaint received 2024-08-05 00:00:00
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Application denials
Company: Assure Home Mortgage LLC
State: ND

Complaint narrative:
On XX/XX/XXXX, XXXX XXXX XXXX reached out to XXXX XXXX with Assure Mortgage about refinancing our home to be able to purchase a property in XXXX. We would need a cash out refi to be able to make the purchase. On that day, she asked for my spouse and my social security, date of birth, employment, current income and debts. 
She proceeded to say she would run our financial situation to be approved for a loan. 
No official application was sent to fill out, everything was asked over the phone. On the XXXX th of XXXX, we were told we were approved to move forward with an FHA loan with XXXX XXXX and Assure Mortgage being our lender/broker. An email was sent out showing she had looked into our credit, and debt history. At this time, we needed confirmation that we were in fact approved so we could move forward with the purchase of our XXXX property. At this point, she and her team ( XXXX XXXX would have had to have looked over our credit report/history for a mortgage loan before saying we were approved. We told her that we had to give a {$10000.00} non refundable earnest money deposit for the XXXX property but couldnt do so unless we had full confirmation to move forward with the loan with Assure Mortgage. XX/XX/XXXX th messages from her loan XXXX XXXX started coming via email and text messages. These were messages asking for loan documents that were needed to order appraisal and send for title work to begin. Phone conversations on XX/XX/XXXX between XXXX and myself were had, where I was assured the loan was moving forward and docs were being sent to underwriting. 
On XX/XX/XXXX th, we signed all of the needed loan disclosures and broker documents that were sent by XXXX team. XXXX XXXX XXXX after more assurance that the loan was indeed moving forward, we released the {$10000.00} funds. On XX/XX/XXXX th XXXX needed payoff amount for our current mortgage. Then on July XXXX XXXX XXXX XXXX of XXXX sent an email that our closing/title work was requested by Assure Mortgage. It wasnt until XX/XX/XXXX th, while on the phone with XXXX XXXX, that she discovered the late mortgage payments from fall of XXXX. This was a shock as they were on a very obvious part of our credit report and we assumed she had seen them as she had our report from day XXXX. 
At this point, she informs us that with late mortgage payments, we didnt qualify for a new mortgage loan. To my understanding, this should have been discovered and we should have been denied the moment XXXX received and reviewed the credit report. If she had missed it, XXXX or her team should have caught this and denied us before XX/XX/XXXX. We would have not been able to move forward on our XXXX property and would not have sent {$10000.00}. After researching the situation, it is very black and white that any missed mortgage payments within XXXX months of applying for any type of mortgage loan is an automatic denial, especially a government loan such as FHA. 
We have been so distraught by this loss of funds over something an experienced lender should have seen immediately. This wasnt a recent event ; the late payments were several months ago and clearly on the report. We are also responsible for title work that didnt need to be completed. The {$10000.00} funds are the damages, plus, to be determined ; fees from the title company, the attorney fees associated with the purchase of the home in XXXX, wire fees for the transfer of funds, we are seeking due to incompetence and not providing proper due diligence XXXX XXXX and her Assure Mortgage team should have done to prevent this situation. 

XXXX Applied by phone Legal names, social security numbers, income submitted for pre qualification. 
Loan proceeded -Documents requested for loan, completed all requirements, Documents signed, loan went to title company, appraisal requested. 
XXXX and XXXX XXXX XXXX XXXX ) was told from day XXXX ( XX/XX/XXXX ) that the loan was for the purchase of a property in XXXX. Assure team knew that an XXXX money deposit would be released and moneys spent and would be lost, and were asked several times if everything was good to go. Assure team assured me that everything looked good only to discover something blatant on the credit report that should have been on the very first day. Loan never should have proceeded to the loss of {$10000.00} plus fees.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation