Filling The Gap Inc

RE: Complaint ID #***To Whom It May Concern:Credit Union Mortgage Association, Incissued a pre-approval letter to *** *** based off the FHA lending guidelines which were in place in September *** *** had an outstanding tax lien on her original credit report, however, the
underwriting guidelines which were in place in September still allowed for loan applications with tax liens to be submitted to an automated underwriting engine for a decision.Unfortunately, FHA changed their guidelines during *** ***'s search for a home and the guideline change negatively impacted CUMA's ability to offer financing to a borrower with an outstanding tax lien on their credit reportThe regulation changed so that loan applicationswith tax liens need to be manually underwritten and CUMA does not manually underwrite FHA loans.Both the loan officer and the Assistant Vice President of Sales and Production spoke with the borrower to explain the circumstances of the change in FHA guidelines and that CUMA does not manually underwrite FHA loansThe borrower was advised that there are lenders who do manually underwrite FHA loans and she was advised to seek a loan with another lender*** *** asked for, and received, a copy of the guidelines so she could see what was put in place.CUMA understands this has been a negative experience for *** ***, however, the change to the FHA guidelines could not have been foreseenCUMA strives to provide excellent customer service to all borrowers and does understand this situation caused a negative experiencePlease advise if any further action is needed at this timeIf any questions arise, please feel free to contact me at ###-###-####