Freedom Mortgage Mortgage Complaint

Freedom Mortgage Mortgage department,

FHA mortgage Credit decision / Underwriting California

-/-/2016 I purchased my home and my loan was sold and serviced by Freedom Mortgage. The mortgage was an FHA loan. In -/-/- I received an offer from Freedom Mortgage for the FHA Streamline refinance program and I applied in order to reduce my rate. Initially, the closing was going to occur in -/-/- until I was notified the program requires 6 months of on time payments. Given my mortgage was new the 6th payment would not be made until -/-/-. I remained in communication with the loan processor - -, who told me everything was fine and once the -/-/- payment posted we 'd move to closing. My payments are setup to pull automatically every month on -/-/- and have been since the loan 's inception. My Bank account can show this. On -/-/- I followed up with - to notify her the payment had been pulled. Around -/-/- my wife, who is a co-signer, received a Credit Denial letter. I myself have not received a decline letter. The reason for the denial of credit was due to a late mortgage payment. This is inaccurate and they should know better since they can see my loan payments are pulled


manager 's information from -, her name was -. She too was of no help and would not recognize their mistake. This is unacceptable practice. The denial reason is bogus and easily corrected if they would simply check their system and confirm the loan payments are automatically drawn each month. I called their customer service to confirm we were current, and they concurred. Clearly a disconnect between their departments and information between the two. What is even more upsetting is the rate lock has expired now and with the rising interest rates over the past few weeks I will not get the rate which was originally locked at 3.75 % even if they were to reopen the application. This rate reduction would have saved me over $25000.00 in interest and I intended to keep my payments the same at which I pay today. This would have eliminated close to 4 years off my mortgage.