Consumer complaint received 2026-03-06 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Delays in the application process
Company: NEW YORK COMMUNITY BANCORP INC
State: AZ

Complaint narrative:
XXXX XXXX was the lender I used to finance the purchase of my current property in XX/XX/XXXX. A representative from XXXX reached out to me last XXXX to convince me to apply for a refinance application for the same property. The application was submitted on XX/XX/XXXX. The original mortgage and refinance loan type is a " Bank Statement '' loan. On XX/XX/XXXX, I was informed the file had been submitted to underwriting on XX/XX/XXXX, with an expected response within a day or two. Updated bank statements requested by underwriting were provided promptly. On XX/XX/XXXX, I followed up requesting a decision and confirmation of next steps. I was told the file was back with the underwriter and a response was expected that afternoon. On XX/XX/XXXX, I sent a formal escalation email to a new loan officer XXXX XXXX ( who was " assigned '' to my refinance request after my previous loan officer, XXXX XXXX was dismissed in the middle of the process ) requesting the following : The written underwriter condition sheet or stipulations A clear explanation of the underwriting decision The basis for the usable income calculation Confirmation of application status ( active, suspended, or denied ) While receipt of that email was acknowledged, no substantive response or documentation has been provided. On XX/XX/XXXX, I sent a followup request reiterating the need for underwriting documentation and a written credit decision. I finally received notice of the underwriting decision on XX/XX/XXXX. This notice referenced an apparently mailed letter dated XX/XX/XXXX of a credit denial. However, throughout the entire application process, XXXX 's online portal showed my application as " pending. '' No denial was communicated verbally or electronically prior to the XX/XX/XXXX date. No written notice of incompleteness was issued. No underwriting condition sheet was provided. An important note : XXXX originally used an expense ratio of 20 % to arrive at a loan approval when I first applied for a bank statement loan with the lender, back in XX/XX/XXXX. Then, without explanation and without a chance to appeal, the underwriting team used a 50 % expense ratio for my refinance application that they pressured me to pursue. This ratio is both inconsistent and grossly inaccurate in its application to my ability as a borrower to payback the loan. Under the Equal Credit Opportunity Act ( Regulation B, 12 CFR 1002.9 ), lenders are required to notify applicants of action taken on a completed credit application within 30 days. Given the XX/XX/XXXX application date, that notification period passed without notifying me of action taken my completed application. This lack of communication, documentation, and timeline clarity is inconsistent with both regulatory expectations and standard lending practices. I had requested the following : Written confirmation of the current application status The official underwriting decision or condition sheet Documentation explaining the income calculation used in underwriting Confirmation of the recorded XXXX action taken date for this application A new point of contact with a higher level of customer service and responsiveness. I would appreciate prompt attention to this matter so it can be resolved without the need for further escalation. No one at XXXX responded to me with the above requests. Then, on XX/XX/XXXX, I sent an email to XXXX 's legal and compliance chief officers before submitting this complaint today ( XX/XX/XXXX ). No one has responded to me in that time period. You'll find attached a copy of my letter sent to XXXX 's chief legal and complaince team, along with a screenshot of the XXXX portal showing " pending. ''

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