Consumer complaint received 2024-05-23 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — Delays in the application process
Company: DHI Mortgage Company
State: FL

Complaint narrative:
I made application with a mortgage lender DHI Mortgage, affiliated with the builder, XXXX XXXX XXXX, in which I contracted to buy a home from in XX/XX/2024. 

I made application with DHI mortgage on or around XX/XX/2024. I uploaded every document requested by XX/XX/2024, including supplemental documentation within a few days there after. 

The problem I am having is the fact that this lender " sat on '' this loan file for OVER 30 days and did not decision this, give me disclosures or anything until after I called the company and escalated the complaint to upper management, that they were not decisioning my loan application and that I had hard deadline to meet for closing in early XXXX to ensure that I did not lose my homestead exemption tax portability. 

I communicated this clearly to the sales person and every person that I spoke with at DHI Mortgage. 

To give you an idea of my loan profile, I have great credit ( all XXXX scores in the XXXX XXXXXXXX 's ) The purchase price was {$610000.00}, I applied putting 20 % down with a loan amount of {$490000.00}. I have been a XXXX XXXXXXXX XXXX XXXX  for more than XXXX  years, and I run a profitable company. I let the loan XXXX and sales person know that we had a trip planned with our family and that I wanted to give them every document necessary ASAP so that they could work on my loan file and have it done by the mid XXXX closing date. I returned from my trip, only to discover that nothing was done on my loan file. 

I started pushing my loan XXXX for answers on the status of the file. Around XX/XX/XXXX ( after pushing for answers and decisions ) I called XXXX XXXX ( the loan officer ) to get clear answers on how they were calculating my income and if the loan was approved or if we needed to make any changes to get the loan done on time. It was then that XXXX gave me an answer on what number they were using in calculating my income. We decided that we were going to add XXXX, ( mom that would be living with us ) to the application. We made application quickly and provided all the documentation immediately. After several more weeks of the same thing, I started looking for a supervisor that could help me and escalate my file, which was still not submitted to underwriting, no appraisal ordered, no formal answers on my loan application, still after over 2 months. 

That was when I emailed and called XXXX on XX/XX/2024. I never did get a call back from XXXX. Shortly thereafter, I was called by XXXX XXXX another manager ) who listened to my complaint, and did everything possible to get my file through underwriting and approved on time. In my opinion XXXX went above and beyond to assist me in getting my loan application approved by the deadline, but after 3 months, it was clear that there was still internal red tape that was not going to be handled in time, despite it being more than 3 months that we made the application and provided all documentation immediately upon request. We offered an increased down payment to overcome any debt to income issues, we agreed to pay off a credit card, we even agreed to increase the down payment ( more than once ), with over 50 % down to overcome any obstacles where we could not provide any additional documentation on additional income. 

The non stop requests for additional documentation ( that we communicated multiple times that nothing else was available ), made it clear that this company had no intention of giving us a loan, and certainly not by the deadline that we needed to meet. 

If a borrower with my profile, great credit, sufficient and stable income, along with significant cash down of 50 %, isn't enough to make a loan, then there are some bigger underlying issues here that need to be addressed. 

Still to this day, as of XX/XX/2024, we never received anything from this lender on the disposition of the loan. We never withdrew our loan application, we just needed to close on time and when this company could not perform in time ( after more than 3 months ), we had to make other arrangements to buy this home, or XXXX  with the builder to get my deposit back.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation