Consumer complaint received 2020-07-08 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: CITIBANK, N.A.
State: CA

Complaint narrative:
This complaint regards our ongoing experience in trying to get a home loan through Citibank. The complaint is specific to the services provided by both XXXX XXXX ( NMLS # XXXX ) and XXXX XXXX ( NMLS # XXXX ). 

On XX/XX/XXXX as we neared purchase of a home, our real estate agent inquired with Mr. XXXX as to whether a 15 day loan contingency could be met. This was an advance of an offer and he communicated that it will be okay. 

On XX/XX/XXXX, our agent sent Mr. XXXX a fully executed contract that included a 15 day loan contingency. Our agent noted this 15 day loan contingency as a reminder to Mr. XXXX. 

On XX/XX/XXXX, I, the buyer, wired funds to escrow. These funds cleared. 

On XX/XX/XXXX, at XXXX XXXX. our real estate agent emailed Mr. XXXX asking how the loan was coming along. She reminds Mr. XXXX of the 15 day contingency that ends XX/XX/XXXX. He has had the executed contract for 11 days at this point. 

On XX/XX/XXXX, at XXXX XXXX, Mr. XXXX emails the buyer a list of documents needed. This is the first communication requesting materials. No explanation was given as to what happened in the last ten days. 

On XX/XX/XXXX, at XXXX XXXX, Mr. XXXX responds to our agent 's prior correspondence telling her " I just e-mailed [ buyer ] a list of the items required for approval and will keep you posted on the progress. '' It is evident based on the timing of these emails that Mr. XXXX was attempting to present the idea that he has done his part and it is on the buyers. At no point in the prior 10 days did Mr. XXXX communicate any needs to the buyer but coincidentally sends this following request for status and pending contingency deadline. 

On XX/XX/XXXX, buyer responds to Mr. XXXX 's list of needs. Buyer makes clear that signature of electronic disclosures and insurance provider information was outstanding. Buyer makes clear to Mr. XXXX in response to one of his questions that the buyer currently owns a property, paid off. Buyer provided recorded document as evidence among other documents requested by Mr. XXXX. 

On XX/XX/XXXX, buyer provides insurance to Mr. XXXX. The electronic signatures could not be completed because the bank input the wrong phone numbers. Access was not available since the information input by the bank was incorrect. Buyer calls and eventually gets corrected later that day. 

On XX/XX/XXXX, agent sends an email to Mr. XXXX asking asking how everything is going. This is two days before contingency ends and now 13 days after receipt of executed contract. Mr. XXXX for the first time states that he is working with an operations department and may need to request an extension. Mr. XXXX provides no explanation for the delay and does not communicate this to the buyer who is directly affected. 

On XX/XX/XXXX, agent replies reminding Mr. XXXX of the contingency on XX/XX/XXXX. 

On XX/XX/XXXX, Mr. XXXX replies to the agent state that he anticipates a review to occur by mid next week ( assumed to be week of XX/XX/XXXX ). Mr. XXXX dismissesthe contingency period and states theemphasis is on the closing date, '' I would anticipate the review to occur my mid next week therefore an extension will be required.. In this environment, the emphasis is on the closing date. '' Between XX/XX/XXXX and XX/XX/XXXX there is no communication between Mr. XXXX and the buyer expressing any sensitivity to this. No phone calls and no communication. 

On XX/XX/XXXX, buyer replies to Mr. XXXX regarding the electronic signatures. The forms the bank wants signed include a question about whether buyer had ownership interest in property in the past three years. The question was answered no. When inquiring with Mr. XXXX, he stated to leave it, stating he was not aware of the ownership. Buyer also asks Mr. XXXX about a tax form that needed to be signed that did not contain a full address. Mr. XXXX never gets back to buyer on whether this will be corrected. The paperwork seems to contain errors and Mr. XXXX statement about his lack of knowledge regarding ownership of property is concerning given he requested information about the property two days prior. 

On XX/XX/XXXX, agent asked if there was any new information regarding the loan. Mr. XXXX states Friday or Monday ( XX/XX/XXXX or XXXX presumed ). 

On XX/XX/XXXX, buyer asks Mr. XXXX whether he thinks the loan will be approved because the contingency date was nearing. He is unequivocal in stating that the loan will be approved. 

On XX/XX/XXXX, buyer asks Mr. XXXX for status. Mr. XXXX states, the loan was submitted for review XX/XX/XXXX. This date is after the " Friday or Monday '' that he stated to the agent eight days prior. How could Mr. XXXX state that a loan would be approved on a date that occured before the loan was submitted for review? Mr. XXXX then states " due to the enormous volume of loans combined with capacity limitations, I anticipate an approval of your loan by next Friday, XXXX. I will let you know when this occurs. '' We are now caught up to XX/XX/XXXX, his third estimate for loan approval after the week of XX/XX/XXXX and/or XX/XX/XXXX or XXXX. 

On XX/XX/XXXX, agent emails asking about formal loan approval. Mr. XXXX replies " My apologies but due to unprecedented operational bottle necks due to the volume of loans made worse by the pandemic, our processing times are delayed. The review of the loan will occur by next week and we will meet the deadline for the COE date on XX/XX/XXXX. [ Buyers ] are highly qualified borrowers and I have no doubt of their qualifications. '' At this point, there is no date now. Mr. XXXX has made no attempt to contact buyer by phone to apologize, provide reassurance, or sympathize with buyer. 

On XX/XX/XXXX, buyer emails Mr. XXXX asking for status. Mr. XXXX replies, " To meet the close of escrow date on Thursday, XX/XX/XXXX, your loan needs to be approved no later than Wednesday, XXXX. I am monitoring your loan daily and will certainly let you know when its approved. And if necessary I will request a rush to meet the deadline. '' At this point, nearly a month since receipt of the executed contract Mr. XXXX explains a need to rush. Mr. XXXX is aware of the date when the loan needs to be approved to meet the contractual close date, yet has waited until XXXX to express a need to rush. Mind you, this is Friday XX/XX/XXXX, leaving only Monday, Tuesday, Wednesday to meet this deadline. 

On XX/XX/XXXX, buyer calls the local bank branch. Buyer had spoken with bank branch manager couple weeks prior asking for assistance. Weeks pass with no calls or email which resulted in this call back. Branch manager indicates that he had asked or that Mr. XXXX 's manager was asked to contact buyer. 

On XX/XX/XXXX, Ms. XXXX, supervisor to Mr. XXXX does not call, but sends one general email " thank you for trusting us with the financing of your home loan. The closing date on your purchase is XX/XX/XXXX and we will do our utmost to meet it. Due to heavy volumes we are working as hard as we can to get all purchase loans closed on time. I will update you as soon as we have a firm date on closing. '' This email is two days before the date Mr. XXXX said the loan ahd to be approved by. It raises more questions and provides no relief. It raises questions as to whether any serious discussion of our concerns was communicated between Mr. XXXX and Ms. XXXX or whether she had time or concern. In response to this, buyer requests a call with Ms. XXXX. She states she's unavailable until after XXXX XXXX on XX/XX/XXXX. 

Buyer speaks with Ms. XXXX on XX/XX/XXXX. She starts by expressing that Mr. XXXX is an excellent loan officer. Consider this was the first thing out of her mouth and given the experience over the last 30 days plus, it struck me as if she had made no effort to understand what we were experience. She expresses again that the file will be rushed but provides no explanation and can not commit to meeting XX/XX/XXXX. She states at the end of the call that she will call buyer the following day. 

On XX/XX/XXXX, buyer hears nothing all day from Ms. XXXX. Buyer emails and calls Ms. XXXX to personally inquire. Ms. XXXX provides no new information but states that she has rushed it and hopes to have something tomorrow XX/XX/XXXX. 

As of today, XX/XX/XXXX, buyer does not have a loan approval. For the purpose of financial disclosure, buyers are putting 25 % down, have credit scores of XXXX and XXXX, both have full time employment, have no debt, and have been banking with citibank for more than 10 years. 

I am filing this complaint because buyer does not know where to turn. Lack of communication, care or any service has made this an awful experience. THe lack of professionalism and inability to communicate has been surprising. Buyer personally feels like they are being strung along and can not get answers from either Ms. XXXX or Mr. XXXX.

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