Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #4389662
Complaint Overview
Complaint ID: 4389662
Company: Mortgage Research Center, LLC
Product: Mortgage
Sub-Product: VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: Louisiana
ZIP Code: 71203
Date Received: 2021-05-19T12:00:00-05:00
Date Sent to Company: 2021-05-19T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I applied to refinance my VA loan through Veterans United on XXXX. A credit check was run on myself and my wife on that day. At that time a list of our accounts, balances, and other credit information was made available to Veterans United. My wife and I have an FHA Title 1 loan that is clearly listed as an account on our credit report and Veterans United was aware of this account, its balance, and all pertinent information on XX/XX/XXXX. As part of the refinance I was required to have an appraisal and termite inspection on my home. The appraisal was completed on XX/XX/XXXX and submitted to Veterans United on XX/XX/XXXX - I have included proof of when it was received by Veterans United. The appraisal included the fact that there were multiple structures on the property ( a wood frame outbuilding as well as the main home ). I heard nothing from Veterans United regarding the appraisal nor did I recieve any further instructions on a termite inspection. The instructions I last received were to order a termite inspection for my home. Eleven days after Veterans United received the appraisal listing the outbuilding, I purchased a {$250.00} termite inspection at my expense and submitted the documents to Veterans United. The following day Veterans United contacted me and stated they required me to purchase a SECOND inspection on the outbuilding - another {$250.00}. I ordered the second inspection on XX/XX/XXXX for XX/XX/XXXX. On XX/XX/XXXX XXXX XXXX from Veterans United called to inform me they could not go any further with the loan because of the FHA Title 1 loan. Veterans United knew about that loan for SEVEN weeks while wasting hours of my time asking me to collect documents under the impression my loan was moving forward. They also wasted hundreds of my dollars directing me to order and pay for needless inspections.I had to use PTO from work to accomodate appraisals and inspections because Veterans United failed to perform even the most BASIC due dilligence on my account. No financial variables changed from the beginning of the loan process to the phone call I received stating it would not be going any further. I did nothing to disqualify myself. Veterans Unit failed to perform due dilligence on my information and negligently led me into the mortgage refinance process resulting in hundreds of dollars lost.
Frequently Asked Questions
What is Complaint #4389662 about?
Complaint #4389662 was filed against Mortgage Research Center, LLC regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-05-19T12:00:00-05:00.
How did Mortgage Research Center, LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Mortgage Research Center, LLC?
Yes, visit the Mortgage Research Center, LLC company profile at readthecomplaint.com/company/mortgage-research-center-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.