Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #5909822
Complaint Overview
Complaint ID: 5909822
Company: Mr. Cooper Group INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: California
ZIP Code: 90660
Date Received: 2022-08-23T12:00:00-05:00
Date Sent to Company: 2022-08-23T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
On XX/XX/XXXX my husband and I were given a verified pre-approval letter by Mr. Cooper for XXXX. On XX/XX/XXXX we were given an updated verified pre-approval letter by Mr. Cooper for XXXX. Mr. Cooper stated that this letter meant that we were through underwriting and our income, our financial statements, and all other income related items were reviewed. Our Loan Offer, XXXX XXXX stated this letter was " as good as a cash offer ''. We proceeded with the home buying process for XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX. We offered XXXX ( which was well below the ceiling of our approval ). We ordered and paid for a home inspection, paid an escrow deposit, paid a holding deposit home insurance ( California XXXX XXXX ), paid for the appraisal, the seller updated the septic tank, and made updates per the appraiser, and moved out of the property in anticipation of the upcoming close. We were set to close on XX/XX/XXXX. On XX/XX/XXXX, one day before the close of the home, we were told we were denied due to my employer type. I work for a XXXX XXXX XXXX ( XXXX XXXX ), and the Loan Officer told me the underwriter excluded my income. I had the same employer throughout the entire process. Nothing changed from the time they issued the " verified pre-approval '' until they rejected my income on XX/XX/XXXX. We spent one month working towards the close of the property and Mr. Cooper never once mentioned that my employment type or length of employment was an issue. This is poor business.
Frequently Asked Questions
What is Complaint #5909822 about?
Complaint #5909822 was filed against Mr. Cooper Group INC. regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2022-08-23T12:00:00-05:00.
How did Mr. Cooper Group 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 Mr. Cooper Group INC.?
Yes, visit the Mr. Cooper Group INC. company profile at readthecomplaint.com/company/mr-cooper-group-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.