Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #5549764
Complaint Overview
Complaint ID: 5549764
Company: Better Mortgage, INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: Colorado
ZIP Code: 80123
Date Received: 2022-05-06T12:00:00-05:00
Date Sent to Company: 2022-05-06T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
At best, Better mortgage has been negligent. At worst, we are victims of malicious intent. After pre-approval, Better waited until the day of our financing deadline to look at our file. When they couldnt resolve the issues, issues that we had communicated early and assumed were handled, they decided to deny us. Our timeline : XX/XX/XXXX - Preapproved to purchase a home up to {$640000.00}. XX/XX/XXXX - We provided our contract to buy to Better Mortgage, with deadlines. XX/XX/XXXX - We clarified an income question on a call with our loan officer and were assured that we were still well-qualified for the home. XX/XX/XXXX - Financing deadline. XX/XX/XXXX - Better Mortgage reached out with the same question we clarified on XX/XX/XXXX. Better Mortgage asked us to extend our financing deadline. The seller refused. XX/XX/XXXX - Better Mortgage advised us that there is not a path forward and to pursue our application with other lenders. XX/XX/XXXX - Our target closing date. Our financial picture did not decrease in any way. It actually improved- we paid off credit card debt and saw our credit scores increase. Better Mortgage systematically was unreachable ( 4 day lead time to speak to our loan officer ) and did not communicate problems to us until the day of the deadline. They failed to process our information. We leased our apartment to new tenants. Our earnest money ( {$6100.00} ) is forfeit after they failed to meet deadline. We do not know where we are going to live after XX/XX/XXXX. We suspect Better Mortgage is denying us because they either do not want to honor our rate lock, or because they were delayed in our application, they do not want to honor their BetteXXXX Closing Guarantee, which promises $ XXXX credit at close if XXXX has to delay our closing date.
Frequently Asked Questions
What is Complaint #5549764 about?
Complaint #5549764 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 2022-05-06T12:00:00-05:00.
How did Better Mortgage, 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 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.