Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #4762451
Complaint Overview
Complaint ID: 4762451
Company: Better Mortgage, INC.
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: Texas
ZIP Code: 770XX
Date Received: 2021-09-28T12:00:00-05:00
Date Sent to Company: 2021-09-28T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I originally was pre-approved with Better Mortgage for a mortgage up to {$540000.00}. That fell to {$330000.00} after a hard credit check. I thought that was settled since they continued with the process as if they had approved the loan. I proceeded with the process to purchase the home as if the loan was secured. ( See attached paperwork ). At the very last moment, Better reversed course and declined the loan. They gave no reason at the time, but an email I received 3 weeks later states that one of those reasons was due to too many hard credit checks. They are one of the companies that performed several of those hard credit pulls. My credit score fell 100 points from XXXX ( good ) to XXXX ( poor ) overnight for no foreseeable reason after they reversed their decision. I didn't open any new line of credit and I wasn't late on any payments. I know that I make more money and have ( or had ) a better credit score than many they extend larger mortgage loans to. I believe that Better may be engaging in discriminatory practices based on a protected class covered under federal law.
Frequently Asked Questions
What is Complaint #4762451 about?
Complaint #4762451 was filed against Better Mortgage, INC. regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-09-28T12:00:00-05:00.
How did Better Mortgage, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was not 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 Better Mortgage, INC.?
Yes, visit the Better Mortgage, INC. company profile at readthecomplaint.com/company/better-mortgage-inc 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.