Citibank Mortgage Complaint

Citibank Mortgage department,

Conventional fixed mortgage Credit decision / Underwriting California

I applied for a home cash-out refinance through Citibank on - -, 2015. I called into the mortgage department and spoke to - - - # - and was immediately given a quote based on my credit score. I told the representative that the reason for my refinance was to save money ( as our current interest has been 8 % ) and to pay off approximately $50.00 k of student loan debt. I was pleased with the interest rate quoted and wanted to proceed with the process I was afraid that the loan would not go through based on my median credit score of - and asked for a guarantee which he did approve of. He said he was more than certain that I would be able to get a 4.125 % interest rate based on my score, and when he officially ran my credit, the rate and terms remained the same. He said that he needed a processing fee to initiate the process, I told him that I was afraid that I would n't get approved and he reassured me that he would return the fee if it did n't. Therefore, I paid the $520.00 application and appraisal


I spoke to a new loan processor and she informed me that the loan was denied based on my credit score. I received a new credit score of - and to this date I have not heard back from -. During this time, I allowed my student loans to go unpaid certain over the process of all the refinance going through. During this time my credit took a - - point drop ( due to my delinquencies ) and they denied me. I looked today online and it still says in process. I have tried various times to come into contact with - and I have not received a call from him. The problem now is that my credit score has been negatively affected and I am in a worse situation than before and no one will help me. I was deceived and left cold turkey. I would like them to either go through with the refinance or take responsibility for the balanced currently late of my student loans ( as I was guaranteed it would go through ).