Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #6084135
Complaint Overview
Complaint ID: 6084135
Company: Citizens Financial Group, INC.
Product: Mortgage
Sub-Product: Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage
State: New York
ZIP Code: 11230
Date Received: 2022-10-13T12:00:00-05:00
Date Sent to Company: 2022-10-13T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I applied for a HELOC for my home with Citizens Bank. Citizens Bank first advised me that the appraiser required a mold inspection report to be done as I had mold or mildew in one bathroom, and that I had to pay for it. At the same time as advising me of this mold inspection requirement, two Citizens staff advised me that requiring such an inspection is highly unusual, as most bathrooms with a shower have mold and mildew, so it was surprising the appraiser would stipulate this. Upon hearing this information, I contacted the appraiser at XXXX XXXX XXXX about this mold inspection requirement. The appraiser told me it was a " lie '', she is not a mold expert and made no such representations in her report, and she does not use any of the " jargon '' indicated on the appraisal report sent to me from Citizens. Further, I simply cleaned the mildew off my bathroom and sent the appraiser and Citizens Bank 's Loan Officer pictures showing it was all gone. The appraiser said she would contact Citizens and the Citizens Loan Officer told me she would contact her appraisal department. Citizens then changed their statement and said they required the appraiser to modify their report and indicate in that report that a mold inspection was necessary. At that time Citizens stated it is in their guidelines to require a mold inspection when mold is visible. Thereby Citizens reversed its earlier statements about how strange it was for their to be a mold inspection requirement and that that requirement came from the appraiser. It seems inappropriate for Citizens to dictate modifications to appraisals as well. Citizens has certainly been telling me inconsistent facts. I believe Citizens is engaging in unfair lending practices. I can not know whether the cause is my ethnicity or the diverse XXXX community in which I live, but they engage in arbitrary and inappropriate business practices. As the cost for a mold inspection report in XXXX is {$370.00} and up, such additional expense would effectively make the HELOC cost prohibitive and unattainable.
Frequently Asked Questions
What is Complaint #6084135 about?
Complaint #6084135 was filed against Citizens Financial Group, INC. regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2022-10-13T12:00:00-05:00.
How did Citizens Financial 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 Citizens Financial Group, INC.?
Yes, visit the Citizens Financial Group, INC. company profile at readthecomplaint.com/company/citizens-financial-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.