Capital One Mortgage Complaint

Capital One Mortgage department,

Conventional fixed mortgage Credit decision / Underwriting Illinois

Loan originator gave contradictory information, which in effect caused the loan to be denied. I am in the process of buying a house in a different city. I was told that having a job in my current city would not suffice, and that I would need to be employed where the home was located. I was told that documentation showing a transfer with my current job, or an offer letter from a new job in the city where the house was located would be acceptable. I received an offer of employment in the new city and provided the documentation showing my start date ( 3 days after the date of closing ), and my expected salary - an increase from my current salary ). Capital One waited over one week from the time the offer letter was submitted to them, in order to notify me that they would need a paystub from my new place of employment before closing on the loan ( this was over 3 weeks from the time of the application ; and more than one month from the initial contact with the bank ). They did not want any other means of verification. I knew from


slightest indication, the faintest hint, that this would be an issue, I would have started the new job prior to close and been able to provide this documentation. Due to their lack of guidance I was not aware of this requirement, and because to the company 's pay schedule, will not receive my first paycheck until 3 weeks after the scheduled closing date.. Now I have to find somewhere to live in the new city so that I can start this job, I will probably lose the house if it is put back on the market, I am out all of the money I paid for credit checks and appraisals, and I have wasted one month in finding a new home.