Nationstar Mortgage Mortgage Complaint

Nationstar Mortgage Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker Maryland

On -/-/15 spoke with - -, an agent for - - - -, VA., requesting information regarding mortgages. To refinance my mortgage with some cash out, - quoted 3.75 % w/no points. On that same day my spouse and I electronically approved credit check as requested by - 's supervisor - -. By - we had electronically submitted the application and the required information. On -, I spoke with - and asked advice regarding - - outstanding balance. We agreed on a course of action. All specified information was electronically submitted between -. As specified, our home appraisal was done - to which I notified -. On -, I was notified of approval on - from - - who requested - additional items. See attached exhibit A. All items were submitted immediately via fax except employment verification which was received by - on -. See exhibit B. Also, letter was sent to - restating the advice given by - - and - - regarding the payoff of the - - account. Not included due to sensitive information. After submission of that letter, I received an e-mail from - - stating she will forward my information to her supervisor, - -,


this week. '' Exhibit C. Since there was no response, I requested an update on -. There was no additional information requested. On -, I sent an e-mail with loan processing department head, - - asking for an update. On Saturday, - she replied she will get with - on Monday and review everything with her. See Exhibit D. No additional information was requested. Up until this point and including this call, all information that was requested by -, -, and the underwriter had been provided. On -/-/15, I spoke with - late in the day asking about the delay as it relates to the payoff of the - - account. She had all the requested information. She replied, ok, I understand about the checks. It will take - days for her to get with my bank ( - ) to check balances in both accounts over the last - months to make sure there were no major swings. '' I asked why she could n't use the bank statements she had in her possession Her reply was a repeat that it will take - days for me to get with my bank to check balances to make sure there were no major swings in my accounts. '' According to her this was requested by underwriter. After hanging up with her, I called the original originator, - -, and reiterated that this process was taking long and what would the rates be if I was to re-apply especially if this process takes longer. He said he would get back to me. On -, - - sent an e-mail stating the new rates of 4 % with - points or 4.125 % with - point. See exhibit E. At the time, Aurora - was advertising in the real estate section of the - as low as 3.625 % for a jumbo. See exhibit F dated - -, 2015. On - -, I received the attached e-mail from - -. According to the denial, the credit application was denied because the application was incomplete. See exhibit G. Subsequent to that I requested a copy of the credit report Credit Plus which was cited by - - in their denial letter. There was nothing in the report to indicate poor, inaccurate, or incomplete information. Copy not sent due to the confidential information contained in the report. Subsequently I started new process with another company and was approved within - days. - was higher than -, but lower than 4.0 %. Aurora obviously used bait and switch, purposely delayed approval costing my wife and I an additional appraisal fee and additional closing and mortgage rate fees.