Bay Equity Mortgage Complaint

Bay Equity Mortgage department,

FHA mortgage Credit decision / Underwriting Georgia

I started working with Bay - -/-/-. I came to them seeking a refinance of my current mortgage in order to lower my interest rate and secure a better financial standing with the consumer credit bureau for credit reporting because my current mortgage is with a private lender. I was advised -/-/- that my closing would be on - -. Both verbally and in writing. With hopes of earlier if they could get underwriting to finalize everything sooner. They were made aware that I would be traveling with my family from - - - - and would be unavailable during those dates. -/-/-, my current mortgage company provided a pay off letter through - - that did not include my -/-/- payment because if closing took place -/-/-, payment could be postponed in order to process the closing documents correctly using the current payoff letter. I was advised that not paying the


my travels. Upon approval and constant contact with my current mortgage company, my -/-/- payment was again not made due to my travel plans keeping me from mailing a payment and getting another closing date set for the day of my return, - -. Mailing the payment would delay the -/-/- closing because a new pay off letter would be needed and documents proving the -/-/- payment was made and cleared and there was no time to provide these with my travel plans. We were advised days before - - that the closing date had been cancelled again. When I returned on -/-/- from my trip, I promptly mailed my current mortgage company the -/-/- payment. My current mortgage holder sent over a new payoff letter with the - payment showing paid. Another closing date was discussed for - -. I did not find out that this date was cancelled until late on - - and I was out of town on business -/-/- -/-/- and on - - when I returned, I sent an email to my current mortgage company asking why my -/-/- check had not cleared my account. They received this payment -/-/- but misplaced the check and it was never cleared through my checking account -/-/- due to the misplacement. Upon this news, a new payoff letter was sent along with an email explanation direct from my mortgage company Bay Equity explaining the -/-/- payment situation. Each day/week from this date, I have emailed and called Bay Equity to get a status check on the closing and why we were so delayed. I have done requested of me to finalize this loan in a timely manner. I was assured multiple times by my loan officer and his staff that my loan was fine and it was internal issues that were causing the delay. I was told that refinances were always pushed back at the end of the month to finalize new purchases. I provided all requested documentation and/or responses to questions within minutes of the requests in -, - and prior to - -. Nothing has been requested of me since then. I have complied with each and every request asked of me. Each day/week, since -/-/-, I expected a closing to be set and documents to be sent. My -/-/- and -/-/- payments have been mailed to my current mortgage holder and proof of payment can be provided. I am not sure what happened to my loan and why I am being denied due to the -/-/- payment situation but I strongly disagree with this denial of loan and feel that something unethical has taken place.