Mortgage X Home Loans

Date: Tue, Dec 20, 2016 at 5:31 PMSubject: Re: [redacted] Complaint ([redacted])To: [redacted] <[redacted]>Dear [redacted], I understand your concern and frustration.  Today's mortgage market has tough guidelines and restrictions.  However, these rules are to protect...

the value of your home, meaning we want to make sure every homeowner in your block or building is fully capable to keep up with the mortgage.  Partnerships with agencies such as [redacted], Department of [redacted] and the United States Department of [redacted] provides us the roadmap forward to ensuring the American dream stays that way, avoiding the nightmare we had during the mortgage meltdowns of 2007-2012.  Not only did millions of American lose their homes but also their neighbors lost valuable equity in their homes as well. We are fully compliant with regulations, what you were provide was an estimate and their were no guarantees that the loan could be approved.  An estimate is the first step to start the loan process which you were provided.  Moving from there we requested that you make a loan application and submit documentation.  Which you did but it was not satisfactory based on our and agency partners (mentioned above) guidelines for submission into underwriting.  I understand this is the point of contention.  Our goal is not to deny your loan however, based on the underwriting guideline the documents you had provided on both requests were insufficient and/or incomplete. We do apologize for any gaps in communication, however, our goal is to close every borrowers transaction with the estimate provided.  As you may see from our record and reviews we tend to do an excellent job of delivering what is on the estimate.The estimate we had provided was not valid any longer due to changing market conditions. We are here to service people such as yourself and close transactions.  We are a for-profit business, if we could have we would have approved your refinance application.Please accept this apology for the gap in communication. We would be more then happy to continue to work with you in completing your transaction however, please be aware that rates are always subject to change until you received a rate lock confirmation and an underwriting approval.  Both of which we were unable to provide due to reasons explained.