Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #5000631
Complaint Overview
Complaint ID: 5000631
Company: Navy Federal Credit Union
Product: Mortgage
Sub-Product: VA mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: North Carolina
ZIP Code: 275XX
Date Received: 2021-12-12T12:00:00-05:00
Date Sent to Company: 2021-12-12T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
On XX/XX/2021 we received a preapproval for a VA mortgage from Navy Federal Credit Union. We told them upfront that our primary source of income was our XXXX XXXX Yet they did not request our XXXX until XX/XX/2021. XXXX XXXX and XXXX requested our XXXX immediately. Because of Navy 's incompetence, we had given due diligence of {$1000.00} on XX/XX/XXXX, and {$550.00} for the appraisal, all for nothing. This whole process was one long nightmare. Our credit was denied on XX/XX/XXXX due to the income to debt ratio that could have been established in the first days after our preapproval. We wasted over 3 months and lost the chance at finding a home. Additionally, Navy largely ignored us for long periods of time when we requested information, and we were not informed in a timely manner that documents were requested. Our real estate agent said her company doesn't like to deal with Navy Federal Credit Union because of their long delays and ineptitude. We repeatedly tried to get Navy to provide our real estate agent with forwarded messages, but this was rarely done unless we complained enough times. After repeated requests from us to send us the appraisal, because the owners were about to terminate the purchase, Navy did so only after we fired Navy 's financial officer and repeatedly tried to contact their supervisor.
Frequently Asked Questions
What is Complaint #5000631 about?
Complaint #5000631 was filed against Navy Federal Credit Union regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-12-12T12:00:00-05:00.
How did Navy Federal Credit Union 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 Navy Federal Credit Union?
Yes, visit the Navy Federal Credit Union company profile at readthecomplaint.com/company/navy-federal-credit-union 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.