Consumer complaint received 2024-08-11 00:00:00
Product: Mortgage — VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Trying to communicate with the company to fix an issue with the application process
Company: LAKEVIEW LOAN SERVICING, LLC
State: OK

Complaint narrative:
XX/XX/XXXX RE : Formal Compliant Against Lakeview Mortgage Company NMLS ID XXXX To Whom It May Concern : This is a formal compliant against Lakeview Mortgage Servicer regarding an uncompleted loan assumption request. The mortgage company has been unresponsive since XX/XX/XXXX after numerous attempts to receive an answer this issue is unresolved. Their inability to complete the requested loan assumption has negatively impacted my ex-husband and his ability to borrow due to the liability still reporting on his credit. 

The situation : My Ex-Husband and myself owned our marital home jointly located at XXXX XXXX XXXX XXXX, XXXX  XXXX, OK XXXX utilizing a VA loan which is serviced by Lakeview Mortgage. Upon the divorce settlement and then an additional incidental real estate settlement agreement that superseded the divorce decree, I was awarded the home and the mortgage associated with the property. According to our incidental property settlement agreement, I am required to assume the mortgage for the property. My ex-husband and myself completed the required paperwork and submitted it to the mortgage company on XX/XX/XXXX. At that time, we were told it would take 180 days from XX/XX/XXXX. Since this time the mortgage servicer has refused to accept our documentation to complete the loan assumption. The mortgage servicer has requested we amend our divorce decree which is not legally possible in the state of Oklahoma. What is legal in Oklahoma is completing an incidental property settlement agreement, of which we did and submitted to the mortgage servicer. However, they are refusing to accept the documentation even though the VA Underwriting guidelines state it is acceptable form of documentation of mortgage loan assumptions. The mortgage servicer has recommended I refinance the home at a cost and a much higher interest rate, which I see the mortgage servicer would profit from a refinance at a much higher rate than the current loan I have. My ex-husband and myself are both in agreement and would like this to be completed. Unfortunately, the mortgage servicer is refusing to comply and complete the loan assumption. I have called multiple times of which a several week period in XXXX of XXXX when the mortgage servicer didnt answer the phone. After trying several weeks in a row I finally was able to speak with someone who said their phone lines had been down. The representative also explained that I am unable to speak with someone over the phone regarding the assumption that I may only email. Unfortunately, this Lakeview mortgage servicer just opted to stop responding to me by email. Since I can not speak with someone via phone or email, filing a compliant with the CFPB is my last resort at attempting to comply with my ex-husband and myselfs legally binding agreement for me to assume this mortgage. Everything has been executed except for the compliance of the mortgage servicer with the legally binding contract. 

My ex-husband moved to Georgia in XXXX of XXXX to care for his terminally ill mother which is why I agreed to take the house post our divorce, leading us to draft the incidental property settlement agreement. My ex-husband has since purchased a home in Georgia where he resides today. I am the sole legal owner of XXXX XXXX XXXX XXXX, XXXX  XXXX, OK XXXX since XX/XX/XXXX ( per the deed attached ). The only piece of business left unfinished from our divorce is this mortgage loan assumption. Again, this negatively impacts XXXX XXXX XXXX and his ability to borrower when this servicer refuses to remove this liability from his credit report. I am solely liable for this debt. XXXX XXXX XXXX and Myself would greatly appreciate if the mortgage servicer would do its job and complete the loan assumption request. We are very much looking forward to a resolution and quickly as taking 1 year and 4 months to complete this is ridiculous. 

Kind Regards, XXXX XXXX Under VA underwriting guidelines, I have the right to assume the mortgage removing the loan and liability from my ex-husband. The acceptable documentation to complete the loan assumption is outlined in the VA underwriting guidelines utilizing the last bullet point. A transfer resulting from a decree to dissolve a marriage, legal separation agreement, OR from a incidental property settlement agreement by which the spouse of the borrower becomes the sole owner of the property. VA Pamphlet 26-7, Revised Chapter 5 : How to Process VA Loans and Submit them to VA

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