Sun West Mortgage Company, Inc. Mortgage Complaint

Sun West Mortgage Company, Inc. Mortgage department,

FHA mortgage Application, originator, mortgage broker Arizona

I am a - in Arizona ( - ) I was doing a deal with a buyer of mine that just canceled after - days. We reached full acceptance of this contract on - -, 2015. This deal was a - on an acre, just outside of - AZ. The property is on septic and has a well agreement, and a road agreement. The buyer is very well qualified and just wanted a low payment with enough land to build a big workshop, so this property fit perfectly. We were done with all our inspections and sent everything to underwriting the beginning of -. The good and hardworking folks at - did the best they could and worked so hard on this file it amazed me. The Underwriter, Sunwest ( who was the investor that would buy the loan ) asked for corrections and for the whole packet to be re-submitted at least - times and spent 3 months reviewing the file. We have - of emails in which Sunwest keeps asking for things ( many times things we had already submitted numerous times ) over and over again, each time saying that they just needed this - last thing


and myself spent hours searching for all the paperwork, that was mostly online and public knowledge. All this time, - & - at - were continually calling asking that they please just give us a Yes or a No on the file. The Seller had moved out and had to stay in a motel for a month. The Buyer had paid for a repair to properly affix the - in - as we were told by Sunwest then that it would close in a couple days after that was taken care of. The seller paid for a septic cert, as we were told by Sunwest underwriting that should be done before the appraisal to speed things along. The buyer also obviously paid for a home inspection, engineering report and appraisal, in addition to the repair. Plus, the buyer has to pay more rent as his lease expired, so he had to go month to month in - which costs extra. Then after they finally came to the conclusion after - months in underwriting that the property did not meet HUD guidelines due to the fact that we could not find corporation papers for the well group they verbally said they could not do the deal. It then took them a week to send - the denial letter in writing. It is my assertion that if Sunwest had done their job correctly and had competent underwriters working for them they could have come to the same conclusion in -! We have all wasted so much time and money on this file, it is ridiculous. Towards the end of - it seemed to me like they were just prolonging the deal, by not answering their phones or answering - and - of emails asking for updates. By prolonging the pain they were just begging the buyer and seller to cancel the deal so they would not have to, because they must have realized that they had already wasted so much of everyone 's time and money that if they now denied the loan - of the parties might find a way to sue them, however if the buyer or seller canceled before a denial, a lawsuit would be harder to prove. I am most likely going to have some of the best Real estate lawyers in Arizona look at the case and file for damages and whatever else they can think of, as this was absolutely ridiculous and absolutely unnecessary to wast so much of everyones time. As, I tried to tell Sunwest a - times, this is not just a file, this is people 's lives that you have absolutely damaged.