Mortgage -- Closing on a mortgage -- Complaint #6289361
Complaint Overview
Complaint ID: 6289361
Company: Jfq Lending, LLC
Product: Mortgage
Sub-Product: Home equity loan or line of credit (HELOC)
Issue: Closing on a mortgage
State: New Jersey
ZIP Code: 07087
Date Received: 2022-12-06T12:00:00-05:00
Date Sent to Company: 2022-12-06T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have started to work on my Home equity loan with JFQ lending on XX/XX/22. We locked the rates at XXXX XXXX adjustable Home equity loan. I have submitted all required documents within few day and was assured by my loan officer XXXX XXXX that everything is fine and loan will be closed. My middle credit score XXXX was used for application process. I have some balance on my credit cards that I was able to pay once we started the process and I have sent all proof documentation to my loan officer. I have signed loan disclosure online. Disclosure was removed later from my online cabinet by JFQ lending but I have emails where my loan officer requesting me to sign a disclosure. Few days after signing in disclosure I have received another email that stated that we are under final underwriting. How ever JFQ lending had disappeared from that point. I try to reach then through phone or email. In a few weeks I got a phone call from XXXX XXXX where he told me that process is taking time but everything is fine. Then JFQ lending disappeared again. After some times I received a call from another person JFQ lending who stated that he is XXXX XXXX supervisor. He said that rates unfortunately went up and offer me to close at XXXX XXXX on the smaller amount of money. I responded that its they responsibility to provide me a loan at the rates that we locked but didn't get any sense from that conversation. XX/XX/22 I received an email from JFQ where they state that they still work on my loan and assigned me a new loan officer XXXX. After conversation with XXXX I was told that JFQ lending still working on my loan and my loan should get closed within XXXX weeks. How ever a few weeks later I received a call from XXXX. He told me again that rates went up and offer me XXXX XXXX to close. I was told otherwise my loan will get denied and rates already expired. I refused to go with higher rates and ask for denial letter with a reason for denial. Denial letter stated that I have an insufficient income even though the amount of loan was based on my income.
Frequently Asked Questions
What is Complaint #6289361 about?
Complaint #6289361 was filed against Jfq Lending, LLC regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2022-12-06T12:00:00-05:00.
How did Jfq Lending, LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was not 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 Jfq Lending, LLC?
Yes, visit the Jfq Lending, LLC company profile at readthecomplaint.com/company/jfq-lending-llc 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.