BNC National Bank

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the responseIf no reason is received your complaint will be closed as Assumed Answered] Complaint: [redacted] I am rejecting this response because:The basis of the denial did not have anything to do with commission income as alluded to in the BNC response As stated previously, the VP of Lending stated that the underwriter claimed I had gaps in my employment (erroneous) and wanted year of time with my current employer As also stated previously, if the underwriter or BNC's policy is for year of employment on the current job, that should have been told to me on March when the underwriter initially reviewed the file It was on that date that I offered to take the loan to another lenderInstead, the VP of Lending assured me of an impending commitment letter and the underwriter issued one of five conditions to close credit card accounts in order to receive approval After receiving the denial letter on March 23, I inquired whether one year was literal, or could we begin at the inception of April The VP of Lending did not respond I therefore sought another lender Since BNC did not meet the ECOA Regulation B requirement to issue a decision within days of receiving a complete application, the new lender cost more because interest rates increased since Feb when the loan was initially locked with BNC All told, the different loan cost me $1,in additional closing costs, an extra $per month, and $19,over the amortized life of the loan BNC did not do everything possible to complete the loan because the underwriter had W2's and tax returns from the two previous years in hand It would have been impossible for me to make the money reported in my taxes if I had experienced an month gap of employment as cited by the underwriter She should have re-investigated the VOE's by connectingthe dots of W2's and tax returnsIronically, the loan officer told me the VP of Lending had the authority to overturn an underwriters decision Apparently not true and now it's costing me and BNC time and money to resolve Regards, [redacted] ***

After reviewing all details of the transaction we have agreed to cover the extension cost and honor the original locked in term that was extended beyond the original expiration dateWe will work directly with this loan officer in question and make sure that each and every customer fully understands the meaning and reasoning behind an extension charge, if applicable

[A default letter is provided here which indicates your acceptance of the business's response If you wish, you may update it before sending it.] Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and find that this resolution is the absolute minimum that the company could have doneAnd while I am accepting this offer so that we can all move on with our lives, I am still disappointed that the company was so short and dismissive to a customer when we are as invested in the outcome of their product as any family when trying to buy a homeBNC and their staff need to become more involved in the mortgage processFrom reading reviews online, we are not the only clients to have this complaint.We appreciate the Revdex.com for facilitating this interaction with the company Regards, [redacted]

Dear Mr*** This letter is in response to a consumer dispute you submitted regarding your loan experience with BNC National Bank First, I would like to apologize that your experience did not go as you expectedWe strive to provide the best possible customer service to all our clients After review of your concerns, I have reviewed your VA loan application with BNC You applied for a VA 100% cash out refinance loan on February 7, At the time of application, you were advised that BNC originates 100% cash out VA refinance loans The loans that fit BNCs criteria for 100% cash out do not include manual underwritten loans Because of your job and credit challenges, your loan received a refer (not approved) response from Desktop Underwriter (automated underwriting) Farrell received an exception to do a 100% cash out as a manual UW should the loan meet all other ability and willingness to pay guidelines as set forth by the underwriter This was communicated to you on March 3, The underwriting department reviewed your application and suspended the file with a list of items needed in order to make a credit decision on your application on March 3rd as well The processor on your file provided to you a list of items to be reviewed prior to obtaining a final credit decision As a Loan Originator in the mortgage business, you are aware that the VA underwriter makes the final underwriting decision based upon the information received from the conditions requested It was determined after receipt of prior requested conditions the file did not meet guidelinesTherefore, the loan was deniedIf you are unable to secure a VA loan from another lender, BNC is willing to cover the cost of the VA appraisalTell us why here

We have reviewed your complaint and loan file in detail and agree to refund you $Thank you for utilizing the appropriate channels to initiate this complaintFunds will be sent directly from our corporate officesShould you need additional information on this request please contact me directlySincerely, [redacted] ***BNC National Bank913-647-

Mr***, We regret that we were not able to finalize a mortgage for your home purchase, and realize that the timeliness of the decision was not ideal for any party involvedWe are striving to correct the communication and timeline issues that were present in your transaction going
forwardWe also agree to refund the $charge for your appraisal Sincerely, Michael Z*** BNC National Bank

BNC did everything within our power to meet your mortgage needsUnfortunately, we were not able to approve your loan due to employment/income decisions as made once all of the relevant information is providedYour employer provided a breakdown of income on March 3, 2017, regarding the commission income earnedThis was requested directly from your employer, as the borrower cannot provide thisThe employer must provide it directlyThis information in combination with the information provided by you was utilized in the denial decisionAs earlier stated, BNC will reimburse you for the cost of your appraisal if you cannot obtain financing

[A default letter...

is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is adequate, I believe given the heart ache and trouble, including a late fee on my current loan BNC should provide me a refund for any and all charges made by BNC, this loan should be done for free except all state, federal and VA fee's.
I believe that refund is around $2,500.00.
Regards,
[redacted]

The original terms of this loan have been finalized as our VP of Retail lending, [redacted], reached out to the client yesterday. The loan file is set to close tomorrow. Please consider this compliant settled. Thank you, [redacted]BNC National Bank[redacted]

Dear Mr. [redacted].   This letter is in response to a consumer dispute you submitted regarding your loan experience with BNC National Bank.  First, I would like to apologize that your experience did not go as you expected. We strive to provide the best possible customer service to all our...

clients.    After review of your concerns, I have reviewed your VA loan application with BNC.  You applied for a VA 100% cash out refinance loan on February 7, 2017.   At the time of application, you were advised that BNC originates 100% cash out VA refinance loans.  The loans that fit BNCs criteria for 100% cash out do not include manual underwritten loans.  Because of your job and credit challenges, your loan received a refer (not approved) response from Desktop Underwriter (automated underwriting).  Farrell received an exception to do a 100% cash out as a manual UW should the loan meet all other ability and willingness to pay guidelines as set forth by the underwriter.  This was communicated to you on March 3, 2017.  The underwriting department reviewed your application and suspended the file with a list of items needed in order to make a credit decision on your application on March 3rd as well.  The processor on your file provided to you a list of items to be reviewed prior to obtaining a final credit decision.   As a Loan Originator in the mortgage business, you are aware that the VA underwriter makes the final underwriting decision based upon the information received from the conditions requested.  It was determined after receipt of prior requested conditions the file did not meet guidelines. Therefore, the loan was denied. If you are unable to secure a VA loan from another lender, BNC is willing to cover the cost of the VA appraisal. Tell us why here...

[A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is the absolute minimum that the company could have done. And while I am accepting this offer so that we can all move on with our lives, I am still disappointed that the company was so short and dismissive to a customer when we are as invested in the outcome of their product as any family when trying to buy a home. BNC and their staff need to become more involved in the mortgage process. From reading reviews online, we are not the only clients to have this complaint.We appreciate the Revdex.com for facilitating this interaction with the company.
Regards,
[redacted]

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Assumed Answered]
Complaint: [redacted]
I am rejecting this response because:The basis of the denial did not have anything to do with commission income as alluded to in the BNC response.  As stated previously, the VP of Lending stated that the underwriter claimed I had gaps in my employment (erroneous) and wanted 1 year of time with my current employer.  As also stated previously, if the underwriter or BNC's policy is for 1 year of employment on the current job, that should have been told to me on March 3 when the underwriter initially reviewed the file.  It was on that date that I offered to take the loan to another lender. Instead, the VP of Lending assured me of an impending commitment letter and the underwriter issued one of five conditions to close credit card accounts in order to receive approval.  After receiving the denial letter on March 23, I inquired whether one year was literal, or could we begin at the inception of April.  The VP of Lending did not respond.  I therefore sought another lender.  Since BNC did not meet the ECOA Regulation B requirement to issue a decision within 30 days of receiving a complete application, the new lender cost more because interest rates increased since Feb 7 when the loan was initially locked with BNC.  All told, the different loan cost me $1,599 in additional closing costs, an extra $54 per month, and $19,220 over the amortized life of the loan.  BNC did not do everything possible to complete the loan because the underwriter had W2's and tax returns from the two previous years in hand.  It would have been impossible for me to make the money reported in my taxes if I had experienced an 8 month gap of employment as cited by the underwriter.  She should have re-investigated the VOE's by connectingthe dots of W2's and tax returns. Ironically, the loan officer told me the VP of Lending had the authority to overturn an underwriters decision.  Apparently not true and now it's costing me and BNC time and money to resolve.
Regards,
[redacted]

[A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
Regards,
[redacted]

My name is on thE mortgage as well as my son

[To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Assumed Answered]The business, BNC, states that that "it was determined  after receipt of prior requested conditions the file did not meet guidelines. Therefore, the loan was denied."   This is false for two reasons: (1) The conditions conveyed to me on March 3 were all fulfilled (Two letters of explanation, closure of five credit accounts, proof of taxes paid and updated termite inspection).  None of these conditions were the the basis of the denial which leads to the second reason the business statement is false; (2) The file was denied because I was not told upfront what I was told in the end; BNC's "overlay" is a requirement for one year on the current job.  That was the *sole reason* expressed to me via email on March 15.  If I had been told this on February 7, or, when the Underwriter reviewed the file on March 3 (when I offered to take the loan to another lender), all the grief would be have been avoided.     
Complaint: [redacted]
I am rejecting this response because:
Regards,
[redacted]

After reviewing all details of the transaction we have agreed to cover the extension cost and honor the original locked in term that was extended beyond the original expiration date. We will work directly with this loan officer in question and make sure that each and every customer fully understands...

the meaning and reasoning behind an extension charge, if applicable.

We have reviewed all facets of your complaint. While we feel that the original error was on the part of your previous servicer,  we have agreed to cover the interest paid amount of $163.28. A check will be sent from our corporate office upon resolution of this complaint. Thank...

you, [redacted]|Internet Marketing ManagerBNC National Bank|TF: ###-###-####|Dir: ###-###-####|Fax: ###-###-####7007 College Blvd, Ste 600 |Overland Park, KS 66211 | NMLS # [redacted]

We  have reviewed your complaint and loan file in detail and agree to refund you $380. Thank you for utilizing the appropriate channels to initiate this complaint. Funds will be sent directly from our corporate offices. Should you need...

additional information on this request please contact me directly. Sincerely, [redacted]BNC National Bank913-647-7013

If you expect a loan to close in a reasonable amount of time -without excuses or delays - try another bank.

Genuine unfulfilled expectations.