Network Capital Funding Corporation Mortgage Complaint

Network Capital Funding Corporation Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker Virginia

I was a home buyer that entered into a contract to purchase a home. The contract included an earnest money deposit of $5000.00, and was contingent on financing. I was a small business owner and worked with Network Capital ( NC ) because they told me that the age of my business would not be a problem. After I discussed my business with - of NC I sent a follow-up email on -/-/2015 that confirmed the conversation. The lender proceeded to charge me for an appraisal fee of $410.00 and in addition I paid for a home inspection fee of $470.00 and surveying fee. The lender did not share that there were any issues with the loan until the day of closing, -/-/-. NC surprisingly denied the loan on the day of closing because I was a small business owner and the bank was not comfortable with the age of my business ( about 1.8 years old at the time ). I also wish to add that I had excellent credit, 20 % down and no debt. I complained to the lender because the age of my company was not new information, and they even pre-approved the loan knowing this information. NC reviewed my application again and denied the loan a second time for the same reason. I have spent the last year pursing the sellers for my earnest money, which I did get back after a trial.