Credit Union Mortgage Association, Inc.

2018-07-19

Cheverly, MD

Attempts to collect debt not owed

Debt collection: Mortgage debt

Debt is not yours
Company Response: Company believes complaint caused principally by actions of third party outside the control or direction of the company Closed with explanation

Timely Response

2018-06-15

Charlotte, NC

Closing on a mortgage

Mortgage: Conventional home mortgage

Complaint: Discrimination occurs when people are treated on the bases of factors other than their individual merits, such as race, gender, age, nationality, and religion. In the case of mortgage markets, discrimination takes place when people are, for example, denied a mortgage because of factors not related 1 the data used in this study were collected as part of official OCC fair lending exams. They are therefore strictly confidential and can not be released to the public or shared with other researchers. 1 to their ability to repay the loan, but rather on some personal characteristics, such as age and gender. Regulation B, the regulation implementing ECOA in 1974, clearly states that people may not be denied a loan on the basis of their age or gender.2 T On XX/XX/XXXX I applied for a mortgage loan on line at Credit Union Mortgage Association . I am a XXXX year old retired XXXX XXXX XXXX ( XXXX ) and XXXX XXXX XXXX ( State of XXXX ). I have attached a copy of my XXXX for your review. When contacted by a XXXX XXXX, loan officer, I explained to him that I was looking for conventional financing. The home I was purchasing was {$320000.00}. From the sale of two properties I would net about {$150000.00} and planned to put down {$100000.00} and wanted to finance {$220000.00}. I wanted to know if I qualified for conventional financing. My credit scores XXXX XXXX, XXXX XXXXand XXXX XXXX. I have owned seven homes and have never been late or had any derogatory information reported. My negative information came from three medical bills which I disputed and they were removed. A copy of the Credit report used is also included. I submitted on the same day I contacted XXXX XXXX copies of my Retirement letters showing they are lifetime benefits and my social security letter. I submitted two years of tax returns, two months of bank statements and a letter from my daughter ( XXXX XXXX XXXX ) stating the car shown ( XXXX XXXX ) she is co borrower and completely responsible for the payments. She also submitted bank statements to collaborate this. I was given preliminary approval and told that I would need to close on both the homes I was selling ( XXXX XXXX XXXX XXXX, XXXX, XXXX, closed, XX/XX/XXXX and XXXX XXXX XXXX XXXX, closed XX/XX/XXXX ) and payoff a {$13000.00} XXXX Equity loan on the home I am retaining for. I have also attached copies of the Closing Disclosure ( CD ) to this complaint. During this entire time I was lead to believe that I did qualify to the loan I had applied for. I informed XXXX XXXX of some of the challenges I had in losing contracts on both homes and having to find new buyers, the builder charging me {$1700.00} for breach of contract when I changed lenders and having to increase my earnest money deposit to {$6000.00} in order to extend to contract until XX/XX/XXXX. I was told by XXXX XXXX that I would be fine for a XX/XX/XXXX closing. Based on this, I paid the {$1700.00} breach of contract and the additional {$3000.00}, XXXX. On XX/XX/XXXX when all the conditions I had been told were satisfied I contacted XXXX XXXX regarding closing the loan. I had been in contact with him and never did he tell me I didn't qualify for the loan until two weeks before closing. I never understood exactly why. First he said it was three XXXX derogatory entries on my credit report which I told him and produced evidence that they had been removed but would pay them, then he talked about losses on my tax return but never fully explained, then he said I needed to pay off all my debt. I asked him if adding a co-borrower would help the loan. At first he said he didn't need it and two days later said he did. I proceeded to contact my nephew, XXXX XXXX who agreed to be co-borrower on the loan. XXXX talked to them and requested to documents needed. XXXX sent everything required of him to the lender. On XX/XX/XXXX at XXXX XXXX I received the attached from XXXX XXXX requesting information that had been previously submitted and additional information from both myself and XXXX that I had never had requested before. My nephew is an XXXX XXXX providing substantial weight to this loan ( as shown on the XXXX ) I believe I am the victim of both age and race discrimination and would like to have this loan reviewed. I contacted both the XXXX and the XXXX State Commission ( Financial Institutions )
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2018-05-03

Manassas, VA

Trouble during payment process

Mortgage: Conventional home mortgage

Company Response: Closed with explanation

Untimely Response

2017-10-26

Bel Alton, MD

Struggling to pay mortgage

Mortgage: Conventional home mortgage

Complaint: My mortgage company is denying many of my request with no reasoning. I file bankruptcy in XXXX and the bankruptcy closed in XXXX. I never included my primary residence and have the paperwork showing this. I am currently requesting the transcripts for that hearing. The Lender stated I reaffirmed the loan but on request, they would not send me the letter reaffirming the loan. I am several emails for my requests. I defaulted on loan XXXX, XXXX to now. None of the request I made was granted. They offered me a loan modification but I explained to the Lender I was experiencing a hardship with an IRS debt and my Grandfather 's financial issues. They never considered the loan modification again. The Lender Representative advised me that I needed to surrender the home and she asked if they could place a lock on the house. I responded no and that was only leaving my home temporarily to take care of my Grandfather. I never heard from the Lender again. In the beginning of XXXX, XXXX I received a letter stating Notice to the any party in the residence the house was being sold. I never received the Notice of Intent to Foreclose. I notified the Lender. The Lender had their Attorney email me the Notice of Intent to Foreclose and the Preliminary Loss Mitigation Paperwork ( dated ) XXXX XXXX, XXXX. A week later a guy shows up to the house and serve me the same papers. I completed the modification request. On XXXX XXXX, XXXX the Attorney sent me an email stating I was denied for the Forbearance and Modification at that time. I never received an official dated letter of denial from the Lender. When I asked why? She indicated the reasoning on the Hardship Letter was not sufficient with ie., my roommates income to me. But that was not the Hardship. I have requested a copy of the Letter of Denial. I have sent in two payments.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Timely Response

2017-04-20

Washington, DC

Credit decision / Underwriting

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: I XXXX XXXX was denied refinancing f rom Credit Union Mortgage Association due to interior appraisal. No details were provided to me. Appraisal structure is fine {$300000.00}. I currently have an existing mortgage with CUMA sinc e XXXX XXXX .They clos ed the application with no chance of remedy. I received no consideration for providing a remedy.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2017-04-14

MD

Settlement process and costs

Mortgage: VA mortgage

Complaint: On XX/XX/2017 - XXXX referred my mortgage application to Credit Union Mortgage Association , Inc. for my VA Home Loan. Unknowingly, CUMA sends the mortgage to a 3rd party for underwriting. I provided them with all requested documentation the same day, answered all questions, etc. I had extreme difficulties obtaining replies as to the status of my loan with underwriting, finally after elevating the situation I was able to receive few answers. 1 week until closing, the loan was still in underwriting and they requested all new financial documents and additional information. Was informed after providing the documents the mortgage was out of underwriting and I would receive the HUD statement the next day. On XX/XX/2017 ( Friday ) at XXXX the HUD statement arrived with numerous errors ; corrected version sent to me at XXXX. Monday XX/XX/2017 I was informed the loan was back at underwriting due to a clerical error and new documents were forthcoming. Tuesday XX/XX/2017 ( settlement day ) mortgage documents were not available for title company until 30 mins prior to the assigned time. I was provided time by the settlement company to read the documents prior to signature to confirm accuracy. I signed all documents on XX/XX/2017 at XXXX. I was told the delays and errors are " My Personal Fault '' for not clearly stating the property was not a single family home, however was a duplex to which they consider rental property. Yes the house is a duplex, on all the contract I sent them clearly stated ( XXXX XXXX XXXX ). On XX/XX/2017 a XXXX Family Rider ( Assignment of Rents ) document was sent to the Settlement Company for my signature. The document states CUMA will retain legal rights to the " rental '' side and all modifications, upgrades, etc., require their permission to include any tenants will submit their rental checks to CUMA. I have not signed the document. I have sent an email and contacted CUMA regarding the additional document and I have yet to receive a reply.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-09-21

Wallington, NJ

Settlement process and costs

Mortgage: Conventional fixed mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-06-21

Alexandria, VA

Can't repay my loan

Student loan: Non-federal student loan

Can't get flexible payment options
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2016-06-20

VA

Settlement process and costs

Mortgage: Conventional fixed mortgage

Complaint: As required, three days prior to closing I received a closing disclosure from my lender that I believe was not made in good faith. This closing disclosure did not include the prorated amount XXXX XXXX & city/town property tax the seller had already paid and that I would reimburse, a prorated amount of XXXX fees that the previous sellers paid and that I would reimburse, and prepaid XXXX fees. At closing, I had to cover these additional costs to take possession of the property for a total additional amount of {$1100.00}. I believe the lender was in violation XXXX for not providing actual costs that should have been readily available to them.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-06-16

Alexandria, VA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: Dear Sirs, My spouse and I recently applied for a conventional mortgage. We were " pre-qualified, '' made an offer, and obtained a ratified contract. We supplied all documentation requested and answered all questions. One month later, we were denied out of the blue on the sole basis of our student loan balances. We were not informed that 1 percent of our student loan balance would be used as our payment amount. That is not our payment amounts, which are reflected on our credit reports. The 1 percent payment amount is 8 times larger than our actual income-based payment amount. We can easily afford the property other than this arcane regulation requirement. Complaint 1 - the lender ( Credit Union Mortgage Association , Inc. ) NEVER informed us of this requirement. This resulted in wasting time, energy and money for all parties involved ( buyer, seller, agents, inspector, appraiser, not to mention CU staff ), expending monies ( appraiser, moving deposits, etc. ), and signing a contract without full disclosure of necessary information by the lender. Complaint 2 - Why is XXXX ( I found the rules on my own ) requiring lenders to count 1 percent of student loan balances as the payment, when that is not the actual payment? Income-based plans are legally available to all borrowers. For some unknown reason that discourages business, Americans with student loans balances will often be unable to qualify based upon this provision alone. It is antithetical to good business.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2016-06-09

Fraser, CO

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-03-14

Fayetteville, NC

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Company disputes the facts presented in the complaint Closed with explanation

Disputed: No Timely Response

2015-12-08

Fayetteville, NC

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Company disputes the facts presented in the complaint Closed with explanation

Disputed: No Timely Response

2015-04-25

Silver Spring, MD

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: I applied for a mortgage for a rental property. Prior to denial they never asked for nor received any verification documents. When I protested not the denial, but the way they had arrived at the decision, they changed loan officers. I then provided tax returns and bank statements as verification of income. I was once again denied. I never received any official documentation as to the application, nor did I receive a denial letter, containing the reasons for denial. I believe I was also supposed to receive something containing my credit score. I have no documentation to upload in support of this complaint because I was never provided with any. I do have emails to and from the company. That 's it.
Company Response: Closed with explanation

Disputed: Yes Untimely Response

2015-01-26

Garrett Park, MD

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2014-12-23

Washington, DC

Application, originator, mortgage broker

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Timely Response

2014-07-31

Glenarden, MD

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Untimely Response

2014-04-10

Ft Belvoir, VA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: No Untimely Response

2013-06-10

Crofton, MD

Settlement process and costs

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Untimely Response