Consumer complaint received 2025-01-27 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Delays in the application process
Company: Kind Holdings, LLC
State: WA

Complaint narrative:
My wife has been applying for a loan to help pay for a secondary home which we plan to use for rental. This loan process has been nothing short of excrutiating. We planned to pay for the downpayment for this home using the funds from the sales proceeds of our XXXX in XXXX. The account is a joint account held in both our names. We have spoken to our lender regarding our concerns and requested clear instructions on how to move our money to closing from overseas. They did not provide the instructions leaving us in a precarious situation for the closing. The total downpayment required was XXXX and we stated we could only wire XXXX at a time and incur deep costs to do XXXX successive wires from overseas. Each wire requires 3-5 business days to process and a minimum of 7-9 business days is required. In addition, we need to leave time for the funds to be audited. We did not receive final figures until 5 business days prior. This is why I had to resort to other means to move the money. In this case, we used a online banking platform to do ACH transfers which were faster and cheaper. This was not perfect and it required for me to move some of the funds into my personal account before reaching the title company. Currently, the funds have reached the title company. However, now the lender wants more account details beyond what is necessary to trace this transaction. We have stated that their request is actually illegal and there is no basis behind this request because 1 ) the funds originally came from a joint account with by wife 2 ) the amount in the joint account actually exceeded the loan amount even after the down payment was delivered 3 ) the funds coming in are recent and do not require the personal account history details of someone not on the loan. However, these remarks were ignored. The representative trying to help my wife secure a loan with XXXX XXXX  violated my consumer right under 1002.5 which I am very displeased. There is no basis behind violating my consumers except if it is intended to be discriminatory. 

Information about a spouse or former spouse ( 1 ) General rule. Except as permitted in this paragraph, a creditor may not request any information concerning the spouse or former spouse of an applicant.

( 2 ) Permissible inquiries. A creditor may request any information concerning an applicant 's spouse ( or former spouse under paragraph ( c ) ( 2 ) ( v ) of this section ) that may be requested about the applicant if : ( i ) The spouse will be permitted to use the account ; ( ii ) The spouse will be contractually liable on the account ; ( iii ) The applicant is relying on the spouse 's income as a basis for repayment of the credit requested ; ( iv ) The applicant resides in a community property state or is relying on property located in such a state as a basis for repayment of the credit requested; or ( v ) The applicant is relying on alimony, child support, or separate maintenance payments from a spouse or former spouse as a basis for repayment of the credit requested. 

( 3 ) Other accounts of the applicant. A creditor may request that an applicant list any account on which the applicant is contractually liable and to provide the name and address of the person in whose name the account is held. A creditor may also ask an applicant to list the names in which the applicant has previously received credit.

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