Date Received: 2020-07-29
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I filled an application for a XXXX XXXX refinance on XX/XX/2020 and the company has been going out of its way to push me into a regular VA loan by placing extraordinary delays, costs, and requirements on the low documentation loan. I have also been subjected to repeated delays whereas my information is regularly submitted for the wrong amount or wrong loan product. Lastly, the company is attempting to re run my credit report after already charging me for a credit report and providing a copy of that report from XX/XX/2020. The lender is stating that the wrong social security number was entered into the system and another credit report needs to be run when that is not correct. A XXXX XXXX IRRL does not require a credit report whatsoever and the fees should be less due to the lower processing. This lender is doing whatever it can, attempting to charge premium fees and costs for less favorable rates while the market rates continue to decline to discourage my VA IRRL application. for example, a rate quote of 4 % with nearly {$7000.00} in closing costs is both higher than my current rate and not allowable whereas an IRRL requires a rate reduction of at least .5 % as well and costs that do not exceed 36 months recoupment period. I have been quoted less favorable rates and fees of {$6000.00} - {$11000.00} which are significantly above the allowed limits and current market competition with suggestions to steer me into a full VA loan.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WA
Zip: 98226
Submitted Via: Web
Date Sent: 2020-07-29
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-28
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: Mortgage process horrible, from start to finish. You can never get a hold of your loan officer. I get a pre-approval letter. I get a accepted offer, but backed out because of inspection. I got the price down XXXX less than my pre-approval. I signed accepted offer & seller is asking for XXXX earnest money. Loan Officer even asked for appraisal money the 1st time, now her supervisor tells me I'm disapproved? I'm waiting for the letter to why, meanwhile I'm supposed to close on the house in a week, and maybe reliable for the earnest money of XXXX dollars. I was sent a pre-approval for XXXX about a month ago.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: WI
Zip: 54304
Submitted Via: Web
Date Sent: 2020-07-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-28
Issue: Getting the loan
Subissue:
Consumer Complaint: On XX/XX/XXXX I received a deposit from XXXX XXXX In the amount of XXXX dollars into my personal Navy federal account. Funds were directly deposited and clear for spending however XXXX has decided to deny me the funds. Stating that bc I didnt deposit them into a business account they will not release them, and are sending them back, against my wishes obviously and the lender. I showed them proof of my identity and of the loan and they still have yet to release the funds.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 90002
Submitted Via: Web
Date Sent: 2020-07-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-28
Issue: Trouble during payment process
Subissue:
Consumer Complaint: This situation is related to the Covid-19 Pandemic and the subsequent CARES ACT. Lender Navy Federal Credit Union ( Mortgage Arm ) Complaint : Misinformation Regarding Home Loan Forbearance of VA loan. Lender is not providing accurate information regarding loan modification options for specific loans to include VA loans to military members. Members participating in CARES where told by Navy Federal employees to make payments when possible as making payment when possible would not jeopardize the Forbearance Status. Once some payments were made the lender stated any payments made prohibited participation in the CARES modification program. Lender sent threatening letters stating CARES participant was delinquent ( even though payments were made on-time ) and the home could be foreclosed upon and negative credit reporting would be made. Member contacted lender who stated they failed to provide updated information to members regarding VA guidance which required a 90 day delinquency to participate in forbearance program. Navy Federal Credit Union ( NFCU XXXX failed to process loan modification as stated. NFCU stated a missed XX/XX/2020 payment would be moved to the end of the loan term since that one month was the only missed payment. NFCU subsequently forwarded XXXX payment to XXXX, And XXXX to XXXX making XXXX appear delinquent. In reality XXXX and prior months were paid on time. Navy Federal Credit Union is providing false, misleading, and/or outdated information to members increasing the risk for their military member base to face credit harm, foreclosure, or financial stress during the COVID-19 pandemic. Individuals in both the collection department ( XXXX ) and the loss mitigation and loan modification departments ( Supervisor XXXX XXXX ) acknowledge members were provided incorrect, misleading, or outdated information regarding their loan status and mitigation options. Members are discouraged from leaving forbearance programs, and accurate details regarding the timeline and structure of loan modifications are not provided to members. A recorded and time stamped phone call is available on Navy Federal Systems for XX/XX/2020. Time frame for phone call XXXX. Member received a certified letter threatening foreclosure and or negative credit reporting for a member participating in the CARES ACT. XXXX XXXX removed property from the CARES program on XX/XX/2020 after failing to modify the loan as promised. All payments are current, but the threat of foreclosure or negative credit reporting still looms over member to whom no remedy was provided.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30066
Submitted Via: Web
Date Sent: 2020-07-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-28
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: About XX/XX/XXXX me and my family had a letter in our mail box that was supposed to be signed for the letter stated they where representing Navy Federal Credit Union as well as a letter signed by a county representative and we're notifying us the date our home was being actioned off due to lack of payment since XX/XX/XXXX. I was unaware of any late payments other then one a year or so earlier that XXXX XXXX XXXX payed after NFCU froze our accounts months after they paid a class act lawsuit that the CFPB antiated for doing so then did it to us months after and froze and withdrew, VA compensation, Social Security compensation, DFAS combat special compensation, and reposed one of our vehicles because of one late payment with all my school supplies for a course I was taking payed for by my GI Bill. They have destroyed our credit and finances soon to be homeless created XXXX XXXX diagnosis in our children worsening my wife 's and mine and causing more Medical diagnosis they have took everything from us without legal reasoning. So I would guess just assets alone they have and are stealing alone {$350000.00} if I had to guess the consumption of my family 's life in all along with this snowballed effect and health issues I can't really put an amount they are destroying our lives!!!! So my best guess what ever this CREDIT UNION ownes legally not stolen from others, I believe they are with Billions we want it as well as fellow Veterans paid as well we are not the only ones the VA home loan office told us this is becoming a trend with them and Navy Federal Credit Union this last 6 months this was told to us in XX/XX/XXXX XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law
State: AR
Zip: 728XX
Submitted Via: Web
Date Sent: 2020-07-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-28
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: In XXXX, I filed for Chapter XXXX Bankruptcy and again in XXXX. Any monies I owed to Navy Federal Credit Union was included in the XXXX Bankruptcy. More than 17 years later, Navy FCU still shows my name as having an outstanding debt. In addition, the financial institution uses it as a negative credit report when it comes to my ability to apply and re-establish my credit with them, I am denied. this has taken a serious toll on my overall credit rating. I have even tried to re-apply for a credit card recently and was denied because of a 20 year old debt. Any prior debts with Navy FCU should have wiped out completely in XXXX. According the NCUA Guidelines, this is a clear violation of my rights as consumer and my ability to obtain creditworthiness ; in addition, these acts has caused severe credit repair damage and financial hardships.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 20169
Submitted Via: Web
Date Sent: 2020-07-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-24
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: In the beginning of XX/XX/2020, I applied for a Navy Federal Credit Union refinance loan. I successfully was pre-approved for a loan. I locked the rate at 2.875 % contingent on supporting documentation. The option I had was a XXXX XXXX which allow me to be able to lock at a lower rate if the rates dropped. The loan officer stated there was a heavy backlog and my loan would not progressed until sometime in XXXX and or XXXX. I told Navy Federal I was willing to wait just as long as my interest was locked at 2.875 %. They ensured me that it would be and we could move forward with me providing necessary documentation. Within two weeks I supplied the Navy Federal my w2, pay-stubs, etc. On XX/XX/XXXX Navy Federal emails me and ask if I would like to proceed. I email them back XX/XX/XXXX and stated I was looking forward to proceed. Around XX/XX/XXXX I called Navy Federal to asked them next steps and they stated my application had been withdrawn and I had to reapply for a new rate which would be .75 higher than my old one. I felt this was misrepresentation. I ask to speak to a senior manager. I was able to speak to a senior manager and after investigation she stated the reason I had to reapply was because my credit report expired. I never ask Navy Federal to withdraw my application. Navy Federal never emailed and stated I needed to pull another credit report. Due to misrepresentation and lack of transparency I would like Navy Federal to honour my existing 2.875 % loan application rate, allow me to lock into a lower rate as well as waive any and all loan origination fees for the hassle of lodging a complaint and mistreatment of a 30 year XXXX XXXX Veteran 's son.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NC
Zip: 27513
Submitted Via: Web
Date Sent: 2020-07-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-24
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: On XX/XX/XXXX, I called Navy Federal Credit to inquire about refinancing my mortgage and to take cash out. After the loan officer excepted the information and completed the application via phone ; I informed the Loan Officer not to submit the application until notified due to a dispute on my credit file and one that the Department of Insurance , Securities, and Banking is working to resolve. On XXXX XXXX or XXXX, XXXX, I received a letter from Navy Federal Credit Union indicating that my loan was denied for the following reasons : 1 ) insufficient income, and 2 ) a delinquent account that is more than 8 years old and was disrupted. Navy Federal Credit Union never verified my income because I never provided proof of said income but I did grant permission to pull my credit report at a fee of {$19.00}. Please help me to understand why the Navy Federal Credit Union submitted my application without my permission. ( Please feel free to ask Navy Federal Credit Union for the recording of the transaction ) Around the week of XX/XX/XXXX, I called Navy Federal Credit Union to inquire about why they submitted my application without my permissions and I was transferred to a supervisor where I left a message and as fo date ( XX/XX/XXXX ), I have not heard from the said supervisor. However, I did receive an invite to complete my application online on XX/XX/XXXX, at XXXX XXXX. Additionally, after I had been granted pre-approval from XXXX XXXX to purchase a car ( XX/XX/XXXX ) and attempted to complete my Navy Federal Credit Union Mortgage Application, I made a decision not to submit my mortgage application to Navy Federal because " they " continue to deny me credit even for a car loan. This organization lending practices appear to be impartial and should be investigated. I will close my account with Navy Federal Credit Union in the future in order to continue my banking relationship with XXXX XXXX XXXX who appears to be inclusive in lending to communities of XXXX. Thanks
Company Response: Company believes it acted appropriately as authorized by contract or law
State: DC
Zip: 20002
Submitted Via: Web
Date Sent: 2020-07-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-23
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: Consumer Complaint Division Good Morning, I am XXXX XXXX and writing this Consumer Complaint letter on the discrimination and federal laws violations of Navy Federal Credit Union. I have submitted a timeline of events in which will show : discrimination, incompetence, stall tactics, credit violations and unlawful denial of a mortgage loan. Here is the timeline of events since my loan was submitted on XX/XX/XXXX. XX/XX/XXXX applied for loan and opened savings account. XX/XX/XXXX asked my processor XXXX to send over docs that we discussed the week prior XX/XX/XXXX asked my processor to send over correct docs as she sent incorrect docs with me borrowing $ XXXX XXXX she sent apologizing email and sent over loan amount $ XXXX with 3 options 2.6,2.7, and 2.8 in which I selected option 3 ( XXXX ) XX/XX/XXXX emailed follow-up requesting loan docs for our XXXX discussion on rates and options XX/XX/XXXX called and left VM stating I was ready for appraisal XX/XX/XXXX called and sent emails to set up appraisal and paid for the service XX/XX/XXXX sent processor 2nd request email to move forward with appraisal XXXX sent urgent email asking for intent to proceed docs from processor XXXX XXXX sent 2nd email advising processor that appraiser came today and I still needed intent to proceed docs XXXX XXXX stated she would resend docs for us to sign XXXX sent email asking where we stood in closing process and what else was needed XX/XX/XXXX XXXX wrote asking if I heard from title company ( never ) and to let me know my file was going to self employment document review. XX/XX/XXXX XXXX stayed that they were getting my tax transcripts to review self employed income. XX/XX/XXXX XXXX stayed that underwriters were asking for XXXX & XXXX W2 and or 1099 which I advised that tax documents were sent months ago. XX/XX/XXXX I was told that the title was cleared XX/XX/XXXX I emailed asking for rate reduction and cash out refinance to pay off loan. Did not get a call XXXX I called and spoke to Navy Federal Rep and she advised I could get 2.8 % rate with no points or origination fees XXXX emailed XXXX asking about rate and freedom lock as well as closing date and to discuss how long this process is taking. XXXX I signed and sent payoff docs to pre closing processor for my current mortgage XXXX XXXX XX/XX/XXXX XXXX stayed that they needed to run a new credit report??? I asked why and she said loan was over the days required for a new credit report. Again I voiced concern over delays and lack of communication on closing date. Gave authorization to RE run credit. XX/XX/XXXX XXXX emailed saying my debt to income was too high ( nothing changed from my 1st credit report ) I advised her that I have {$180000.00} in equity and we could payoff whatever to make loan work. I also advised her that truck was XXXX use vehicle and paid thru XXXX as it is listed on my corporate tax returns. XX/XX/XXXX Navy Federal denied my loan and sent me a letter. No word from my processor?? XX/XX/XXXX after several attempts to contact someone in management XXXX XXXX called and we discussed my loan. After the call I felt finally we would get loan closed. I sent her prove that truck was paid thru the company and they agent payroll deduction XX/XX/XXXX I also sent bank account balance $ XXXX and Mutual fund statement showing $ XXXX as requested XX/XX/XXXX I wrote a reconsideration letter and XXXX says she agreed with the basis of my letter. I have XXXX in equity and {$110000.00} in liquid cash why wasnt I giving options before my loan was denied as of a 30yr mortgage or to pay off items with cash on hand or use equity as I stated to XXXX months ago?? XX/XX/XXXX I sent XXXX ( Supervisor ) that both XXXX XXXX cards have been paid off fully and all documents that she requested. As well as proof my XXXX XXXX was paid thru my corporation and listed on my corporate tax returns as a XXXX vehicle. XXXX I asked XXXX to give me a call as I had a quick question. No response. XXXX I emailed XXXX asking for closing date and that the process was becoming exhausting and troublesome. XXXX I sent payoff records from XXXX XXXX XXXX XXXX and also voiced concern that Ive sent 3 emails with no response. XX/XX/XXXX I received email from new processor XXXX XXXX saying she was assisting XXXX and apologized for all of the delays stating she needed addl disclosures signed and homeowners XXXX page showing Navy Federal as mortgagee. XXXX XXXX requested statement from XXXX XXXX XXXX XXXX on payoff XX/XX/XXXX I called on my birthday to discuss rates and closing dates. I was told that my rate would be floated down to 3.0 % and that everything was approved. XXXX. I sent XXXX XXXX an email asking about closing and didnt get a response. I asked for the corporate complaint email address as well and still didnt get a response. ****I have every e-mail and correspondence to prove my allegations. **** I was told when I applied that the process would take around 90 days. I said seems like a long time and XXXX said they had lots of loans due to the low rates. As you can see above, this process is in month 7. As a XXXX XXXX veteran and a 19yr XXXX XXXX, I feel totally disrespected and discriminated against. Ive submitted 2yrs of tax returns, W2s, proof of employment, proof of XXXX XXXX ( Fortune 500 ), proof of credit cards paid in full, submitted payoff docs for state farm line of credit and XXXX XXXX 1st & 2nd loans. The above shows willful abandonment, discrimination, and federal laws being broken. I have only spoken to my loan processor on the phone twice in 7 months. They take 2 weeks to respond to emails and never return phone calls. After I spoke with Supervisor XXXX, I felt that we were moving in the right direction, She even stated I dont understand why they denied your loan with the assets and the equity in your property ''. She stated each underwriter is different and depending on who underwrites your file the decisions can be different. I received no less than 6 good faith estimates with all sorts of interest rates and origination fees. When I called or emailed to discuss, I never received an answer and more delays and stall tactics. I have been sent 5 different loan estimates and all sorts off different fees and charges. When I call and speak to a customer service Rep, they tell me they can only forward me to my processor ( who never answers phone NOR return calls or emails ). RESOLUTION I would like my loan closed. There is no reason for a loan to take over 7 months to close. My debt to income is under Navy Federal guidelines and the only reason that my loan hasnt closed is for the reasons list above. Income docs submitted and approved by Navy Federal is well over {$6500.00}. My DTI ratio is 35-38 %. My credit is good and qualifies under Navy Federal guidelines. Current Debt : Mortgage {$2000.00} Car Note {$320.00} Debt not considered : Truck ( paid by corporation with submitted doc and shown on corporate tax returns ) {$700.00} XXXX XXXX ( Paid in full sent docs to Navy Federal ). $ XXXX XXXX XXXX Line of Credit ( Will be paid off with cash out refinance, docs sent to Navy Federal ). {$0.00} Please respond back to this within 15 business days. As you can see, this has been a compete nightmare and zero accountability from Navy Federal. Best regards, XXXX XXXX XXXX cell XXXX office OFFICIAL CODE OF GEORGIA 7-6-1. Discrimination in extending credit or making loans prohibited
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30519
Submitted Via: Web
Date Sent: 2020-07-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2020-07-23
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: Navy Federal loan that I had for my home was paid in full. The company when contacted advised me that they billed me additional fees for paying off my home mortgage in full. I have contacted them several times as the company has refused to cash the bill pays sent to the company and XXXX took the action to stop the payment as Navy Federal had the check from bill pay. In order to get the mortgage paid in full payments were made to them via ACH. Navy Federal has been requested in writing that I am hereby demanding that my money due back to me for escrow and close my accounts with the bank. Navy Federal advised me that they will be charging me penalties for paying off the loan which I was advised I didn't have on this loan. Now on the phone it has come to my attention that the company has made a decision that was never disclosed to take money to payoff the mortgage. When I requested to know exactly what the amount they are charging me they said I would have to wait until they do all their back office charges against my account. The company is not being fair and honest with me as I have advised them that I want to close my accounts. Obtain my escrow money that they are retaining and along with that they are taking a position that they can charge me whatever they want for fees for paying off the loan. I need help as I have reviewed documents and it has no area that it states that I must pay for their back office activities and in a large amount. I have been clear that this is not fair and want the breakdown immediately. Their response was they will get it to me in 30 days or more when they get it done. I do not want to be a customer and they sent me a letter advising me that my escrow or overpayment would be deposited into the checking account that I presently have with them and have requested to have closed several times. They refuse to close the accounts and state that I must keep them. I do not see how this is fair and am asking for help to get paid the money that is overdue.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 95747
Submitted Via: Web
Date Sent: 2020-08-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A