NAVY FEDERAL CREDIT UNION

2016-07-19

Cheverly, MD

Credit decision / Underwriting

Mortgage: VA mortgage

Complaint: I applied for a home mortgage and was denied based on prior short sales on my credit report. It is my understanding that " VA does not recognize a short sale as a derogatory event. If you are able to credit qualify for a VA loan, a short sale would not prevent you from being eligible for VA financing. '' I called the bank before applying and was told that it would not be held against me and that I should apply. I had multiple investment properties that I had to short sell in previous years but the most recent was my primary residence that I had to short sell last year.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2016-07-19

Mobile, AL

Credit line increase/decrease

Credit card:

Complaint: I have a Navy Federal Credit Card. Which I 've had for almost two years now. I apll applied for a credit line increase in the fall of last year and was denied. I applied again two weeks ago and was denied again. According to Navy federal I was denied due too excessive credit obligations and delinquent past or present credit obligations with Navy Federal. According to Navy Federal I was 11 days late in XXXX 2016 and 4 days past due XXXX 2016. I explained to the customer service rep. that I had more debt, a lower beacon score and a lower income when I was first approved for this card and I could n't understand why Navy Federal Kept denying me an increase I was even fresh off a BK chapter XXXX when I first got this card. I asked the customer service rep. how could this happen and she could not explain why.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-07-19

Chesapeake, VA

Deposits and withdrawals

Bank account or service: Checking account

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

Disputed: No Timely Response

2016-07-18

Nyc, NY

Loan modification,collection,foreclosure

Mortgage: VA mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with non-monetary relief

Disputed: No Timely Response

2016-07-18

Washington, DC

Problems when you are unable to pay

Consumer Loan: Vehicle loan

Complaint: In 2010 I was involved in a fraud case with navy federal I was contacted by an investigator XXXX. He told me to come out XXXX this was something they were aware of they had XXXX suspects. Make a long story short they have locked and arrested the inviduals up which I have later found. I been calling Navy federal to find out how do I handle this and they have not provide with any type of assistance only to pay my debt but this is completely a fraud case the guy from XXXX took my money and never giving me any car he have my social securitt number and much and many more.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2016-07-16

El Paso, TX

Advertising and marketing

Credit card:

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

Disputed: No Timely Response

2016-07-15

District Heights, MD

Incorrect information on credit report

Credit reporting:

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

Disputed: No Timely Response

2016-07-15

Bellevue, TX

Application, originator, mortgage broker

Mortgage: Conventional adjustable mortgage (ARM)

Complaint: Applied for 5/5 ARM ( refinance ) with Navy Federal Credit Union on XXXX/XXXX/2016. As of this date, I am still waiting on an " Appraisal '' to be completed and getting the " Approval Letter. '' Initially my Loan started as a VA refinance but I quickly changed to 5/5 ARM within 5 days of XXXX/XXXX/2016 because of better Interest Rate. My Assigned Navy Federal " Loan Processor '' in XXXX, XXXX had no knowledge of XXXX Laws regarding ARM refinancing. I was then reassigned another " Loan Processor '' on XXXX/XXXX/2016 and an Appraisal was ordered on XXXX/XXXX/2016 but NOTHING has happened with this Appraisal as of today 's date of XXXX/XXXX/2016. Still NO " Appraisal '' has been started let alone completed. I am still waiting on some REQUIRED " Disclosures '' that still have not been sent to me, namely the Credit Report findings DESPITE the fact Navy Federal Credit Union pulled another Credit Report from TransUnion over 2 weeks ago. I was told that I have excellent FICO Credit Scores averaging XXXX between my wife and myself. Navy Federal Credit Union " Loan Processing Center '' in XXXX, XXXX in my opinion LACKS the proper training of Loan Processors and they DO NOT follow Federal Laws on " Disclosures. '' Bottom Line, I am now 6 Weeks into the Loan Processing and STILL NO " Appraisal '' has been done on my Property. Navy Federal Credit Union may be DELIBERATELY delaying the processing of my 5/5 ARM " Loan '' refinancing so that they can get an ADDITIONAL fee past the initial 60-day rate lock. Navy Federal Credit Union " Mortgage Processing Center '' needs to be investigated for purposely delaying process of my Mortgage " refinance '' loan. Please HELP. My LOAN Number is XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with non-monetary relief

Disputed: Yes Timely Response

2016-07-13

Charleston, SC

Problems caused by my funds being low

Bank account or service: Other bank product/service

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

Disputed: No Timely Response

2016-07-12

Orlando, FL

Shopping for a loan or lease

Consumer Loan: Vehicle loan

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

Disputed: No Timely Response

2016-07-11

New Orleans, LA

Account opening, closing, or management

Bank account or service: Other bank product/service

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

Disputed: No Timely Response

2016-07-07

Aberdeen, NJ

Deposits and withdrawals

Bank account or service: Other bank product/service

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

Disputed: Yes Timely Response

2016-07-07

Fort Washington, MD

Application, originator, mortgage broker

Mortgage: Home equity loan or line of credit

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

Disputed: No Timely Response

2016-07-07

Arlington, VA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

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

Disputed: No Timely Response

2016-07-06

Charleston, SC

Account opening, closing, or management

Bank account or service: Checking account

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

Disputed: No Timely Response

2016-07-06

Newark, NJ

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

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

Disputed: No Timely Response

2016-07-05

Marion, IL

Making/receiving payments, sending money

Bank account or service: Other bank product/service

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

Disputed: Yes Timely Response

2016-07-05

Carrollton, GA

Account opening, closing, or management

Bank account or service: Checking account

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

Disputed: No Timely Response

2016-07-04

Cheverly, MD

Account opening, closing, or management

Bank account or service: Other bank product/service

Complaint: I applied for Business loan products at NFCU whereas I believe the loan analyst XXXX XXXX XXXX XXXX XXXX is not properly trained or using discriminatory practices. I submitted all required documentation on XXXX XXXX. On XXXX XXXX I asked how long is the processing time frame? XXXX XXXX stated he 'd have a decision by the following week. The following week he reached out only to ask a question already answered on my application. " Which property would be used as collateral? ". After not hearing from him by XXXX XXXX, I reached out asking for a status. Only then, Me. XXXX told me the NFCU had implemented a new process that required a new application to be completed and the processing time would be delayed until the following week, etc. I began to complain and ask when were you going to tell me .... as I have been waiting for weeks for an update. XXXX XXXX became defensive but promised a decision that Friday ( 2 days later ). His decision was " denied '' based on the following reason which are unsupported and contradicted below. Delinquent credit history Policy - too many active, revolving accounts Poor credit performance with us This is a business XXXX loan request for $ XXXX and business credit card to expand my small business. The loan would be secured by a business owned property that NFCU appraised at over {$210000.00} in XXXX XXXX. The comparables has since risen based on recent property sales. Also, the property is free and clear with no outstanding mortgages, liens, etc and produces {$1500.00} in monthly rental income deposited into my NFCU business account. In summary, I would be borrowing less than 50 % of the home value of a free & clear income producing property. The risk is very low here. Second, this is a business loan whereas I pledged as a personal guaranty. My guaranty should only be an added valued. Why is the loan decision based solely on my personal credit history? It does not appear they considered the business income, collateral or anything business related here. In contradiction to the above, I have been approved for a few loans with NFCU over the past year 1. ) in XXXX XXXX a credit card for {$25000.00} ; 2. ) in XXXX XXXX, a personal loan for {$8000.00} ; 3. ) the most recent was XXXX of XXXX ( 2 months ago ), NFCU approved me for a {$25000.00} personal loan with no collateral which contradicts the above statement regarding " poor credit performance '' with NFCU. Over the past 20 years with NFCU I have been late less than 3 times but never over 30 days late whereas it impacted my credit report. I think that XXXX XXXX made an unfair decision in haste and out of resentment because I complained or perhaps he is not properly trained. I am requesting a thorough review of my application be performed and the questions below answered. 1. ) What are NFCU practices regarding business loans and ; 2. ) Did XXXX XXXX XXXX follow the practices accordingly?
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-07-03

CA

Account opening, closing, or management

Bank account or service: Checking account

Complaint: After I was terminated by my former employer. The moment my credit card/mortgage with Navy Federal Credit Union fell behind, they completely locked out my online access/phone access to all my accounts. I never received, or was able to access ANY statements for any account. I was enrolled in multiple automatic debits, and paperless statements from my account to numerous other payees. With no access I was unable to find out all the automatic debits to be paid by any account. This caused several automatic debit to bounce and overdraft fees added. This went on for several months, never once did I receive a statement, regardless of how many phone calls I made. I was more focusing on the fact my only source of income was my XXXX, which they decided to use any way they wanted without any regard for the law. The only time I was able to get a statement of my accounts and effectively shut off all the automatic debits. I had to drive over XXXX miles XXXX way, to the nearest branch in XXXX, TX. When I confronted the branch manager about the money they took illegally, she simply stated " I will see that letter, when I see it. '' That is another issue that I will be dealing with. I HAVE NOTICED THEY HAVE CHANGED THEIR ONLINE ACCESS POLICY. You still have access to statements even if you are behind on payments. XXXX more thing, every time I called to request a statement during that time period, the phone call went directly to the collections department who stated they were unable to request a statement for me.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: Yes Timely Response

2016-06-30

Shopping for a line of credit

Consumer Loan: Personal line of credit

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

Disputed: No Timely Response

2016-06-30

Hayfield, VA

Managing the loan or lease

Consumer Loan: Vehicle loan

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

Disputed: No Timely Response

2016-06-30

Oxford, GA

Account opening, closing, or management

Bank account or service: Checking account

Complaint: Yes navy federal credit union blocked my account after me being 60 plus days a member and qualified as a member under my father serving in the XXXX in XXXX. I have over XXXX XXXX dollars in my checking and also money in my savings they blocked my rent online bill payment to my apt complex and now are refusing to unlock my account and honor my check sent from them to my apt complex furthermore they refused to accept my poa as I requested several times and also refusing to let me speak to someone in regards to my checking savings and credit card which I make XXXX payments or more a month my fathers name is XXXX XXXX I demand they take my account off of hold
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Disputed: No Timely Response

2016-06-29

Murrieta, CA

Using a debit or ATM card

Bank account or service: Checking account

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with non-monetary relief

Disputed: No Timely Response

2016-06-29

Cibolo, TX

Other

Credit card:

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

Disputed: No Timely Response