Consumer complaint received 2021-12-02 00:00:00
Product: Mortgage — VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: NAVY FEDERAL CREDIT UNION
State: MI

Complaint narrative:
NFCU put my personal information at risk and I feel I was discriminated against, being a XXXX XXXX small business owner that was in the process of shutting down businesses due to the XXXX  incurring business losses that were no longer applicable or should have been used against me to refinance my existing NFCU loans. Applied for refinance loan XX/XX/XXXX with a credit score in the 700s, a debt to income ratio of 31.8 %, {$160000.00} in cash reserves in the bank. Refinancing my two loans with NFCU, a XXXX VA XXXX 3.125 % rate with a loan balance of {$250000.00} and a monthly payment of {$4000.00}. Second loan is the XXXXC XXXX 4.000 % loan balance {$280000.00} with a monthly payment of {$2800.00}. The total monthly payment for both loans with Navy Federal Credit Union is {$6800.00}. The refi loan I applied for and received conditional approval on XX/XX/XXXX at 1.75 % @ {$540000.00}. A month later I received a denial letter from NFCU due to Income insufficient for amount requested. I called in to request to talk to someone and was told I could do an appeal letter but was not allowed to talk to a XXXXP or XXXX. I was denied due to my XXXX XXXX and bXXXX XXXX in XXXX. I sent in an appeal letter providing information as to the decision to sXXXX XXXX XXXXs due to the XXXX and going back to full-time employment in corporate XXXX in XXXX. NFCU had my bank account balances, my regular full-time paychecks, rental income, and my XXXX XXXX pay which equated to {$210000.00} annual salary for a {$540000.00} XXXX XXXX XXXX at 1.75 % expected monthly payment is estimated at {$5700.00} which is {$1100.00} LESS THAN what I pay on time every month to NFCU now. It makes no sense that a bank or credit union who states on their website - Compassionate service goes beyond knowing your name and rank. It's understanding and caring about what's important to you. That's why we're truly dedicated to yow overall financial well-being and helping you achieve what you want in life.2. We Put Members First- " Helping members reach their goals with the best products and service possible is what we do. '' THIS IS FALSE ADVERTISING. NFCU is more focused on profits and sticking it to members. That is the only thing that makes sense when you look at the numbers and the XXXX ratio which is well below the guidelines. On XX/XX/XXXX i received an additional communication from NFCU- This borrower was denied due to the significant Schedule C loss reflected on his XXXX tax returns from a LLC in the amount of $ XXXX. In his appeal letter he states the business is no longer running- can he provide documentation for the dissolution of the business. I provided the dissolution docs but also the XXXX & XXXX showing the loss was due to Cost of Goods ( sale of a home ) and I also turned in the business tax returns. Again, this is XXXX XXXX and business losses and is no longer applicable. FURTHERMROE, NFCU shutdown access for me to send my two appeals letters and supporting documentation via the secure Online portal and made me email them everything which is NOT secure and put me at risk to Identity theft. I tried several times to talk with a XXXX, a XXXX oXXXX XXXX and was denied each time and no one from NFCU would address the lack of security for my information and provide access to the secure online portal. Everything was done via open unsecure email from XX/XX/XXXX to XXXX XXXX

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