Consumer complaint received 2025-07-01 00:00:00
Product: Mortgage — VA mortgage
Issue: Closing on a mortgage — Delays with the closing process
Company: PLANET HOME LENDING, LLC
State: PA

Complaint narrative:
On XX/XX/year> the contract on our home was executed with a closing date of XX/XX/year>. The transaction included a VA  loan assumption with a transfer of entitlement. On XX/XX/XXXX, we requested Planet Home Lending send the assumption packet to the buyer. Neither my husband nor my realtor had any contact from Planet Home Lending until XX/XX/XXXX when our realtor was told by the buyer 's realtor that Planet Home Lending was waiting on a signature from my husband ; however, my husband did not have any documents in his e-mail to sign. His e-mail was correct on the 'request for seller information ' submitted by the title company, but Planet Home Lending did not send the documents to that e-mail ; hence why he did not receive them. Planet Home Lending, upon sending documents with no reply, failed to verify that they had the correct e-mail. Planet Home Lending failed to attempt to reach out to my realtor via e-mail. Planet Home Lending failed to call our household. Planet Home Lending failed to call our realtor. On XX/XX/XXXX, when the e-mail error was discovered, my husband received an e-mail with XXXX documents to wet sign. He had a question on one of the forms. When we called Planet Home Lending, he was told explicitly by the assumption team member on the phone at Planet Home Lending that he was NOT to sign the form 26-10291, despite receiving that form, since it would mean he was giving his permission for the VA entitlement to remain with the loan. One of our criteria for executing the assumption was a transfer of entitlement. This was a false statement. That form is solely for the service member to acknowledge that they had received counseling on the assumption process and risks if the entitlement was not transferred. We were informed on the evening of XX/XX/XXXX by a third party that Planet Home Lending was utilizing to process the assumption that the instruction not to sign was incorrect, and that document also needed to be signed. My husband signed and returned the form before the close of business on Friday, XX/XX/XXXX. Planet Home Lending could have cleared the buyers through underwriting without these documents, as they had nothing to do with the buyer. Planet Home Lending failed to submit the packet to underwriting on Friday, XX/XX/XXXX. Planet Home Lending failed to submit the packet to underwriting on Sat, XX/XX/XXXX. Planet Home Lending finally submitted the packet to underwriting on Monday, XX/XX/XXXX, and said it would take at least XXXX business days to clear underwriting for the buyers. XXXX business days, with XX/XX/XXXX being the first day, would be XX/XX/XXXX. Despite the stated XXXX turnaround, Planet Home Lending is saying they do not expect us to be able to close before XX/XX/XXXX. Planet Home Lending 's oversight with improper e-mails, failures in communication, failure to attempt alternate contact, misinformation, and delays in execution are causing significant hardship for the buyers who are living out of a hotel. It is causing significant hardship for us as the sellers since we need the funds from the sale to execute other purchases, and instead will have XXXX XXXX of additional interest. 

When I contacted Planet Home Lending on the XXXX to request an expedited XXXX review, I was unable to reach the assumption team. I was told they'd call us back. When asked what the best time to be called back was, I replied 'Immediately, since we were supposed to close today '. Despite the urgency, I did not get a call back before the end of business.

Company response to consumer: Closed with explanation