Affinity Mortgage

We hire a third party to process all of our marketing materials Occasionally the mailing data will not be correct Our compliance department and regulating bodies have approved this letter It is not a gimmick, we help people every month save month by redoing their loan We are sorry for the inconvenience we caused this individual Not sure how HIPPA medical records apply to what we did, but we do not know anything about his medical issues Not sure on civil right either, since we did not discriminate against him in any way

We approved [redacted] to buy a house...in the processing of her loan she was made aware that her credit score was a fair credit score She negotiated a purchase contract, asking the seller to only pay a small percentage of buyer closing costs The home she was buying, her and her husband wanted to fix up, so they needed as much extra cash as possible She told us on 11/2/2016, they went under contract to buy the new home She sold her existing home 11/28/ She planned on putting around 30% down payment into her new house, plus closing costs according to the contract she signed with the seller [redacted] and our group had many phone conversations along the way so we were in the loop of what she wanted to accomplish On 11//we were informed that she would be closing on sale of her current home In an email on that same date she wrote, “Wanting to bring total of $60,to closing and financing $125,000.” This was impossible and she was informed over the phone, after we sent a few clarifying emails to her Impossible because she forgot that she had the closing costs to pay She has certain types of income, that exist on paper, but we could not use for underwriting purposes as they were not stable or consistent Thus her debt ratio was well above an approvable range From the beginning the potential need to pay off debts to qualify was discussed with *** As part of that discussion, based on the timing of when it would happen, we made her aware that by paying certain things off her credit score would likely increase The amount she was advice to pay was around $10, She was made aware that if her score increased, she may be able to get a better interest rate She made the decision to try to pay those debts down to see if her score would go up She did pay off those debts 11/29/ The time required for each creditor to update their records varies, usually taking 4-days to accomplish The original information she provided was not acceptable to the credit bureausThe information required for a rapid rescore varies slightly depending on the type of debt being paid offShe provided us the updated information on 12/2/ By the time she provided us with proof we needed, we had day left before the date we had to lock the loan in order to meet the closing date The seller would not grant her an extension, thus she had no choice, and she locked her rate Before locking her rate she was made aware that we would have to restructure her loan to get her debt ratios in line Instead of putting as much down payment into her home, she would need to use some of that money to pay off an additional car loan We walked through the pros of this solution Her monthly payments would be almost $cheaper each month Although she would be financing more on her mortgage her total payments would be less She told me her husband would be excited to be done with that car payment We agree changes at the end are not ideal, but this is the only way we could get in debt ratio in line So far we have had to pay off debts, income had been eliminated because it is not consistent and cannot be used Finally, we had to have a collection account that was being disputed as not hers (an account she paid on 11/28) removed, when she paid it the collection group added a message saying she paid the balance for less than full balanceMany times that collection agencies do not add that message, but as a result she was no longer receiving an approval as we had it structured Conventional loans have to receive an approval via [redacted] or [redacted] ***, her loan would not approveThe only way we could get an approval was to have her put down additional money, instead of the 20% we had the approval on the day before We concur that it was short notice; we would love to have had more time to allow her to think through it as well She was told that any closing cost change in excess of what we had discussed would be covered by our office Closing costs did not change, down payment changed, this amount did not change because of anything we did or anything we could control Remember on 11/she told us she wanted to write a check for a total of $60,max at closing, which was after she paid off all of the debts she needed to close We closed 12/she wrote a check for $59, We also issued a lender credit for $to pay off another credit card for her, to help relieve the stress the collection causedThe amount she wrote the check for at closing included the amount needed to pay off the car loan needed to qualify We most definitely did not manipulate her, lie to her, or provide her with information intentionally Legally we cannot pay someone’s down payment for them With the time constraints issued by the seller, this client’s credit issues, asset limitation ($60,max at closing), and debt ratios, we are proud we were able to help her buy this home Do to the personal nature of our business, we have intentionally left out specifics surround credit numbers, debt ratios, and other industry specific terms We wish her the best, but we cannot pay her down payment for her

We approved [redacted] to buy a house...in the processing of her loan she was made aware that her credit score was a fair credit score.  She negotiated a purchase contract, asking the seller to only pay a small percentage of buyer closing costs.  The home she was buying, her and her husband...

wanted to fix up, so they needed as much extra cash as possible.   She told us on 11/2/2016, they went under contract to buy the new home.  She sold her existing home 11/28/2016.  She planned on putting around 30% down payment into her new house, plus closing costs according to the contract she signed with the seller. 
[redacted] and our group had many phone conversations along the way so we were in the loop of what she wanted to accomplish.
On 11/28 /2016 we were informed that she would be closing on sale of her current home.  In an email on that same date she wrote, “Wanting to bring total of $60,400 to closing and financing $125,000.”  This was impossible and she was informed over the phone, after we sent a few clarifying emails to her.   Impossible because she forgot that she had the closing costs to pay.
She has certain types of income, that exist on paper, but we could not use for underwriting purposes as they were not stable or consistent.  Thus her debt ratio was well above an approvable range. 
From the beginning the potential need to pay off debts to qualify was discussed with [redacted].  As part of that discussion, based on the timing of when it would happen, we made her aware that by paying certain things off her credit score would likely increase.  The amount she was advice to pay was around $10,300.  She was made aware that if her score increased, she may be able to get a better interest rate.  She made the decision to try to pay those debts down to see if her score would go up.  She did pay off those debts 11/29/2016.  The time required for each creditor to update their records varies, usually taking 4-5 days to accomplish.  The original information she provided was not acceptable to the credit bureaus. The information required for a rapid rescore varies slightly depending on the type of debt being paid off. She provided us the updated information on 12/2/2016.  By the time she provided us with proof we needed, we had 1 day left before the date we had to lock the loan in order to meet the closing date.  The seller would not grant her an extension, thus she had no choice, and she locked her rate. 
Before locking her rate she was made aware that we would have to restructure her loan to get her debt ratios in line.  Instead of putting as much down payment into her home, she would need to use some of that money to pay off an additional car loan.  We walked through the pros of this solution.  Her monthly payments would be almost $300 cheaper each month.  Although she would be financing more on her mortgage her total payments would be less.  She told me her husband would be excited to be done with that car payment.  We agree changes at the end are not ideal, but this is the only way we could get in debt ratio in line.
So far we have had to pay off debts, income had been eliminated because it is not consistent and cannot be used.  Finally, we had to have a collection account that was being disputed as not hers (an account she paid on 11/28) removed, when she paid it the collection group added a message saying she paid the balance for less than full balance. Many times that collection agencies do not add that message, but as a result she was no longer receiving an approval as we had it structured.  Conventional loans have to receive an approval via [redacted] or [redacted], her loan would not approve. The only way we could get an approval was to have her put down additional money, instead of the 20% we had the approval on the day before.  We concur that it was short notice; we would love to have had more time to allow her to think through it as well.  She was told that any closing cost change in excess of what we had discussed would be covered by our office.  Closing costs did not change, down payment changed, this amount did not change because of anything we did or anything we could control.
Remember on 11/28 she told us she wanted to write a check for a total of $60,400 max at closing, which was after she paid off all of the debts she needed to close.  We closed 12/8 she wrote a check for $59,164.39.   We also issued a lender credit for $435 to pay off another credit card for her, to help relieve the stress the collection caused. The amount she wrote the check for at closing included the amount needed to pay off the car loan needed to qualify.
We most definitely did not manipulate her, lie to her, or provide her with false information intentionally.  Legally we cannot pay someone’s down payment for them.  With the time constraints issued by the seller, this client’s credit issues, asset limitation ($60,400 max at closing), and debt ratios, we are proud we were able to help her buy this home.
Do to the personal nature of our business, we have intentionally left out specifics surround credit numbers, debt ratios, and other industry specific terms.  We wish her the best, but we cannot pay her down payment for her.

We hire a third party to process all of our marketing materials.  Occasionally the mailing data will not be correct.  Our compliance department and regulating bodies have approved this letter.  It is not a gimmick, we help people every month save month by redoing their loan.  We...

are sorry for the inconvenience we caused this individual.  Not sure how HIPPA medical records apply to what we did, but we do not know anything about his medical issues.  Not sure on civil right either, since we did not discriminate against him in any way.