Complaints

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• Initial Complaint

  Date:12/30/2022

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On 11/9/2022, my fianc and I initiate a relationship with Get a Rate to acquire a loan for an accepted house purchase offer. We provided them all documents, acknowledged as in a timely manner. Communication was lacking but as first time homebuyers, we believed it was the normal for the initial part of the process. Eventually, our realtor informed us that this was the first time that a lender has kept her mostly in the dark. It was a concern but too late to do much.First closing delay they informed us that they required additional documentation from our donors and immigration documentation. We immediately attempted to seek additional clarification since we had provided everything that we had regarding immigration supporting documentation but it wasn't until the day before settlement we received some guidance which we quickly fulfill. Come hours be for settlement we were informed that we had not received the clear to close and would have to postpone until the following week. Following week again we are told it is due to insufficient immigration supporting documentation. Yet, they are unable to tell us why it's insufficient nor provide us with clear information of what they need so we wait for clarification. Concurrently, the seller provided us with a deadline to close by 12/18 or the deal is off. Evening before settlement, a manager underwriter contacts us and for the first time explain "FHA policies and immigration eligibility" are allegedly not met due to a renewable clause and provided alternatives that would at this point not meet the sellers deadline. Please note: They had all immigration documentation since 11/12/2022. We received pre-approval letters with exact same immigration documents that only became an issue at the end. We sought a different lender who stated that the clause requires for the eligible status must be in place for 90 days after closing. Loss a house deal and now don't have living arrangement since we were assured we would close by 12/6.

  Business Response

  Date: 02/08/2023

  We are sorry to hear about your experience and the disappointment of not being able to obtain a mortgage for your desired home purchase. We understand that as a first-time homebuyer, the process can be confusing and stressful.
  
  
  In regards to the specific complaint, please know that our processing and underwriting team reviewed your file within three days of submission and found that the information provided regarding your immigration status did not meet the necessary requirements set by HUD for non-permanent residents. The loan was submitted on November 17th, 2022 and the condition which you will find below was issued and shared with the you on November 21st, 2022.
  
  
  Condition: Borrower to provide a copy of the back of Employment Authorization documentation to prove ********'s legal right to live and/or or work in *****************. In addition, provide a completed I-765. Must meet all program guidelines. Subject to Underwriter review
  
  
  According to HUD guidelines, non-permanent residents may be eligible for FHA-insured financing if the following conditions are met:
  The property will be the borrower's principal residence.
  The borrower has a valid Social Security Number, except for those employed by the *********** a foreign embassy, or equivalent employer identified by HUD.
  The borrower is eligible to work in ***************** and provides either:An Employment Authorization Document (USCIS Form I-766) showing that work authorization status is current.
  A USCIS Form I-94 evidencing H-1B status, and evidence of employment by the authorized H-1B employer for a minimum of one year.
  Evidence of being granted refugee or asylee status by the USCIS.
  Evidence of citizenship of the ******************************, the ****************************************, or the *****************.
  The borrower satisfies the same requirements, terms, and conditions as those for **** citizens.
  

  In your case, the Status Authorization Document (USCIS Form I-766) provided was going to expire within one year. Our underwriting team was unable to determine the likelihood of renewal based on information from the employer or the ****** which is why we were unable to approve the loan application.  
  
  Our processing team has also tried multiple times to follow up on the condition.  See below.  
  Notes in files from client calls and requests: We just spoke to the co-borrower in regards to his legal status to work and live in the US. He explained to me that his approval is good through 5/2023. He and his fiancee are getting married in January and after that they will be working on getting his residency. He has no further documentation at this time as they have not started the process. Per my conversation earlier with *****, we explained that to be able to close we need additional information to show the approval of any application. Client said, again, he has not applied yet and that is why his fiancee is on the loan as she is an american citizen and there should be no problem. I tried to explain that they need to provide acceptable proof and unfortunately the client was not able to provide any additional documentation but still wants to close so the seller doesn't back out of the deal
  
  In conclusion, as a lender, our primary goal is to assist our clients in achieving their dream of home ownership while also ensuring that all necessary guidelines set by HUD are met. In this case, unfortunately, we were not able to approve the loan application due to the immigration status documentation not meeting the necessary requirements. We appreciate your understanding and hope that you will consider working with us in the future when the necessary documentation and eligibility requirements are met.