Consumer complaint received 2020-12-02 00:00:00
Product: Mortgage — FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: Parkway Financial Group, LLC
State: PA

Complaint narrative:
On XX/XX/XXXX, I was added to the purchase agreement for mortgage for property at XXXX XXXX XXXX XXXX XXXX CO XXXX with XXXX XXXX XXXX XXXX 

XXXX XXXX had originally entered the agreement with Inspire Home Loans to purchase the listed property for {$670000.00} on XX/XX/XXXX. It was originally a cash deal, pending the closure of a business transaction Mr. XXXX was to complete on XX/XX/XXXX. I provided Mr. XXXX with a gift of {$20000.00} ( from my accounts at XXXX XXXX and XXXX XXXX XXXX from funds I had on deposit from savings on XX/XX/XXXX and XX/XX/XXXX ) to use as the earnest funds for the home to secure the contract. Mr. XXXX had a delay in the settlement of the business transaction to XX/XX/XXXX. The home builder ( Inspire Home Loans ), asked that he apply for a mortgage loan to ensure the closure of the purchase agreement at the end of XX/XX/XXXX. Mr. XXXX was unable to apply for the loan, so I was added to the purchase agreement and applied for the loan. 

On XX/XX/XXXX I began the mortgage application process with the builder 's mortgage company, Inspire Home Loans Inc. dba Inspire Home Mortgage ( NMLS # XXXX ). 

On XX/XX/XXXX, I receive an email from XXXX XXXX ( NMLS # XXXX ), a loan originator with the company, with a pre-qualification approval for an FHA loan for {$580000.00}, the maximum amount for the county the property is located in. I advised Mr. XXXX, that the remaining funds to cover the purchase price were to be gifted to me by my brother. I also advised Mr. XXXX, that there were a few items on my credit report that were incorrect and that I wanted to resolve them and then have them pull my credit report again so that I would qualify for a lower interest rate. Mr. XXXX advised once I sent him the updated information, he would send it to his underwriting team for the loan to be completed. 

On XX/XX/XXXX, I provided Mr. XXXX with all of the additional information that was needed to complete the loan, including proof of the credit report items that had been resolved. Later in the day, I received a call from my realtor who informed me that Mr. XXXX had advised the builder that I had never submitted the necessary documents. I advised my realtor that I had submitted the documents and had email confirmation from Mr. XXXX that he was in receipt of them. 

On XX/XX/XXXX, around XXXX, I received an email from XXXX XXXX with a request that I sign a form agreeing to cancel the contract. I did not sign the form and have not yet signed it. 

On XX/XX/XXXX, I received an email response from XXXX XXXX that he had a couple of questions that he needed clarification on before he sent my file to the underwriters. Mr. XXXX and I had a phone call, during which he said the income from my second job ( which is W-2 income, the same as my first job ) might not count and the underwriter might choose to exclude it. He did not provide a reason as to why the underwriter would exclude legal/legitimate income. It did not sound like a legitimate reason to me. My total income from all sources is app. {$10000.00} per month. 

After my phone call with Mr. XXXX, I sent him a follow up email ( app. an hour later ) confirming the details of our call and asking the next steps. Mr. XXXX stopped responding to my emails and never provided any status to the loan. 

The builder, put the property back on the market on XX/XX/XXXX, this time with a higher price of {$680000.00}. The builder accepted a new contract for {$680000.00} on XX/XX/XXXX. 
I believe Mr. XXXX was derelict in his duties in reviewing and processing the loan request and was blatantly dishonest in his representation of the loan process as he confirmed an approval to me, while telling the builder that I had not completed the process. I do believe that the builder worked with Mr. XXXX to sabotage the loan I had been approved for because they wanted to put the house back on the market for a higher price. 

The city that this property is located in, is predominately white, and I am Black/African-American. When I was asked to complete the loan process, I asked my realtor to have the company provide the LAR for the company because I wanted to see what their lending history and practices are and the demographic information for their loans and rate of approval, etc. The company advised my realtor that they didn't know what the LAR was and had no records of such information. 

I've filed a complaint with the State of Colorado as well, and at this point, I want my money back as neither XXXX XXXX nor the builder acted with integrity and neither appeared to want to close the loan with me, and just take my money, even though I had been provided with an approval for the loan. 

At the same time that I applied for the loan with Inspire Home Loans, I also applied for an FHA loan with XXXX XXXX, and was approved, so I am very well aware that I was able to be approved for the loan for this house.

Company response to consumer: Closed with explanation