Consumer complaint received 2026-02-04 00:00:00
Product: Student loan — Private student loan
Issue: Getting a loan — Problem with signing the paperwork
Company: Earnest Inc.
State: CA

Complaint narrative:
CFPB COMPLAINT Company : Earnest Operations LLC Product : Refinance Student Loan Issue Type : Loan processing / underwriting / servicing Primary Issue : Improper documentation demand after approval and execution ; funding delay Secondary Issue : Unfair, deceptive, or abusive acts or practices ( UDAAP ) Complaint Narrative I am filing this complaint regarding egregious and unacceptable conduct by Earnest in connection with a loan that was already approved, executed, and scheduled for funding, when Earnest demanded new and nonexistent income documentation XXXX day prior to funding. 

This conduct is profoundly disruptive, unreasonable, and inconsistent with fair lending and servicing standards. 

Approved and Executed Loan My loan application was fully completed, reviewed, approved, and formally executed. I signed the loan documents in reliance on Earnests approval and representations that underwriting was complete and funding was imminent. 

Despite this, XXXX day prior to funding, Earnest demanded that I produce a XXXX, without prior notice and without justification. 

Nonexistent Documentation Demand I do not possess a XXXX. This was neither concealed nor ambiguous at any point in the application process. 

I am a XXXX XXXX XXXX and my income structure is inherently XXXX, involving XXXX XXXX  income and XXXX compensation. In addition, a substantial portion of my historical documentation is maintained in XXXX XXXX, where I am originally based. 

Earnest was fully awareor should have been fully awareof this income structure before approving and executing the loan. 

XXXX  Income Fully Disclosed and Permitted For clarity, my application accurately and transparently disclosed multiple qualifying income sources, including : XXXX XXXX income XXXX income XXXX XXXX  income Earnests own application platform explicitly allows and evaluates XXXX and XXXX income and assets, and these disclosed income streams formed the basis of the loan approval. Requiring a single, nonexistent XXXX after approval and execution directly contradicts Earnests underwriting framework and representations to borrowers.

Unfair and Deceptive Conduct Demanding new or different documentation after approva and execution, particularly documentation that does not exist, constitutes unfair and deceptive conduct. It undermines borrower reliance, disrupts financial planning, and reflects deficient internal controls. 

I expressly offered reasonable alternatives, including : Government-issued identification Employer or agency verification Contract documentation Pay statements These were ignored in favor of insisting on a XXXX at the XXXX hour. 

Harm Caused Earnests actions caused : Significant distress and disruption Risk of funding failure through no fault of my own Loss of time and resources Undermined reliance on an executed loan agreement This conduct is especially concerning given the timingXXXX XXXX prior to fundingand the absence of any new information justifying reopening underwriting. To reiterate, this loan was already fully approved and signed for Earnests sudden hold on funding is grossly unacceptable and must be resolved immediately with the funding of the approved Refinance Loan today.

Requested Resolution I am requesting that the CFPB require Earnest to : XXXX. Proceed with funding under the originally approved and executed terms without improper or impossible documentation demands ; XXXX. Provide a written explanation for why underwriting was reopened post-execution ; XXXX. Confirm corrective action to prevent borrowers from being subjected to last-minute, nonexistent documentation requirements ; and XXXX Review this matter for potential UDAAP violations.

Earnests conduct reflects a breakdown in underwriting integrity and borrower protections. I am submitting this complaint to ensure accountability and to prevent similar treatment of other borrowers. 

I reserve all rights.

Company response to consumer: Closed with explanation