Consumer complaint received 2023-11-16 00:00:00
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Loan estimate or other related disclosures
Company: ATLANTIC BAY MORTGAGE GROUP LLC
State: NC

Complaint narrative:
Complaint XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX  XXXX To whom it may concern, I am writing this complaint to make you aware of how customers are being treated. On or about XX/XX/XXXXXXXX  I was referred to XXXX XXXX to obtain a loan for a manufactured home, and I spoke with him and proceeded to complete a loan application. I immediately submitted my application online to XXXX and I provided him with 2 years of tax returns for self-employment, also 3 months of bank statements, a profit and loss from XXXX to XXXX, and all other pertinent information, I sent him everything he needed immediately. 

Within 72 hours, I had a conditional loan approval for {$120000.00} on XX/XX/XXXX, at that time I was advised that I had to sell my home in order to meet my XXXX on this loan. I immediately put my house up for sale after speaking with XXXX and then I proceeded to look for houses with my realtor. After some time I called XXXX back and advised him I couldnt buy anything for that price, and at that time he spoke with the underwriter and increased my loan amount to {$140000.00} on XX/XX/XXXX and he also sent a new good faith estimate based on {$140000.00} loan amount. Over the next few weeks, I reached out to XXXX with questions, and he was very helpful. 
I continued to show my home to people and around XXXX XXXX advised me that he would no longer be with the company. He referred me to XXXX XXXX and I advised her that I was a first-time home buyer so I proceeded to take the class on down payment assistance, she stated that I had an automatic approval with the down payment assistance of XXXX included with the loan even though she did not run that approval at the time she said this. I had to continually reach out to her several times in order to get information out of her, she would say one thing in a conversation and then say something different in another conversation. I advised her several times that she was confusing me and I didnt know what I had, so a few weeks later I did a three-way with my real estate agent, myself, and XXXX so we all could hear the same thing. 

At that time, she said she was going to run the approval for the down payment assistance which she previously stated she had already down so, during the three-way she said she was going to re-run the approval with the underwriter and I advised her that I needed to know immediately before I go under contract, she advised me she would call me when she sent it to the underwriter but she did not and I had to reach out to her 5 to 6 times before she finally called me back telling me I was not approved at all for the {$140000.00}. Due to my loan was based on one years tax returns and I know that is not true because XXXX did my approval based on 2 years of tax returns and I know that for a fact. 

On XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX advised me that my loan was denied because it was done on one year of tax returns and I know that is not true again, me and XXXX never discussed one year of tax returns only 2 years of tax returns. I asked XXXX for an ID number for his location because I was going to write a complaint and he stated that the ID number was on the website and the call abruptly ended. I received a letter today XX/XX/XXXX stating credit denial based on a consumer report and again XXXX stated the loan was declined due to one year of tax returns and no one ever mentioned anything about credit. So I would love to hear from you concerning this matter because it is dishonest and I see your affiliates XXXX, XXXX XXXX, and XXXX XXXX XXXX XXXX and I need to be clear that this is no form of discrimination against minorities, please advise.

Company response to consumer: Closed with explanation