Residential Home Funding Corp Mortgage Complaint

Residential Home Funding Corp Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker New Jersey

A letter dated -, - -, indicated that our buyer 's loan was denied because our property was deemed unserviceable through a loan backed by - -. The lender stated that based on documents received from the NJ - Zoning Commission, the property could not be rebuilt to its current footprint if substantially destroyed. We suspected an error was made, as our loan on the property is currently serviced by Fannie Mae. We therefore consulted with the NJ - Zoning Commission and obtained additional documentation indicating that the under-writer was incorrect ; a use variance granted when the property was originally zoned in 1985 made the issue around rebuilding not applicable to our residence. We received this information in writing from the NJ - Zoning Commission on - -, which the buyer used as a basis for challenging the decline of the loan. A week later, we learned that the under-writer was seeking additional information from the Building Department of the - of - to indicate that the property could be rebuilt to its current density if substantially destroyed. Upon our request, the Mayor of -, as well as - - ( Head of the Department ), consulted with the


obtained an email from the under-writer, stating that the condo is still not warrantable ... per the investor guidelines '' and that decision to decline remains. Our complaint is that we provided the exact documentation that the lender sought - an explicit statement from the zoning authority that the condo could be rebuilt to its current density if substantially destroyed. The underwriter refuses to overturn the decision - even with this additional documentation and without any explanation as to why the additional information is not satisfactory for the investor.