Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #4946431
Complaint Overview
Complaint ID: 4946431
Company: Ally Financial INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: Florida
ZIP Code: 342XX
Date Received: 2021-11-24T12:00:00-05:00
Date Sent to Company: 2021-11-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
On XXXX I applied for a XXXX mortgage at Ally and in order to lock in the rate at XXXX for which I was " pre-approved '' I had to pay the {$550.00} to lock in the rate. I did pay the {$550.00} and from that point on Ally was not telling me the truth based on the " pre-approval. I want to start off saying that my credit score averaged XXXX which is over the requirement. Ally did not accept my third quarter Profit and Loss statement so I went to my book keeper who provided XXXX XXXX which showed a monthly income of {$4100.00}. On the P/L my XXXX draw was shown as Outside Services for which the business pays me the monthly officeXXXX draw of {$1000.00}. Ally NEVER counted that as my income. Also I explained to Ally that the cards with the large balances were my fathers. On Thursday XX/XX/XXXX XXXX XXXX instructed me to pay off the {$5000.00} balance so that they would show XXXX so I could still lock in my rate. On Monday XX/XX/XXXX when I kept showing proof to XXXX that my cards were paid she insisted I have to have the screen shot of the cards. I told her that I paid them on Friday the XXXX so they didn't post yet. Ally played the bait and switch trick because every step that I followed so I could get approved was not working. I spent {$5000.00} only to be told that I didn't qualify for XXXX yr and that I would need to get a XXXX with a by down of {$3300.00} for 2.65 %. I emailed at XXXX on Tuesday the XXXX to XXXX that I'm withdrawing my application and I want my {$550.00} back. XXXX replied no problem. since they were dishonest with the credit card debt and not including the {$1000.00} per month on my officer 's draw. Ally emails me at XXXX on the XXXX that I was denied. I wasn't denied I withdrew and they STILL did not refund my money. Ally makes customers pay up front to lock in a fake rate they will never give. In addition, I followed the instructions of XXXX to pay off my credit cards and spent {$5000.00} dollars only to be told " Sorry I told you to do that. '' Then XXXX tells me she can't tell me the reasons because she is to allowed and not licensed in my State of XXXX why would she be paired with me if she can not relay the information from the underwriter. The underwriters are not trying to approve at the rate Ally tells you will get and then they will switch it to another one where you will buy points down. This cost me a lot of money and they could not calculate a debt to income ratio. I was told " I can not explain how we figure that out. '' Please never use Ally they are dishonest and plan on selling your loan to another servicer. Save your {$550.00} for a more honest place. Do not use Ally.
Frequently Asked Questions
What is Complaint #4946431 about?
Complaint #4946431 was filed against Ally Financial INC. regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-11-24T12:00:00-05:00.
How did Ally Financial INC. 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 Ally Financial INC.?
Yes, visit the Ally Financial INC. company profile at readthecomplaint.com/company/ally-financial-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.