Westerra Credit Union

Unfortunately, we are unable to release specific information regarding Mr [redacted] ’s loan application If Mr [redacted] would like additional information, please contact Mike G [redacted] at 303-784-

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 Sincerely, [redacted]

To whom it may concern This message is in response to the complaint filed by Ms [redacted] ***Please note that Ms [redacted] is not a party to the transaction in question but is the daughter of our member, Mr [redacted] ***Mr [redacted] applied with Westerra Credit Union on October 31st for a cash out debt consolidation refinance of his primary residence under one of our portfolio mortgage productsThe portfolio mortgage products are designed to help members who cannot qualify under standard federal mortgage agency guidelines, and as such they have specific requirements regarding credit worthiness and cash reserves in order to substantiate that the member has the ability to manage their credit and financial affairsIn January of after all attempts were made to qualify the member, Mr***’s application was declined and a statement of credit denial was issued and mailed to the member on January 11th 2018, as evidenced in our file On February 1, the member reapplied after obtaining the necessary cash reserves through the sale of two autos to his daughter, Ms [redacted] ***With that new application a new credit report was pulled, which indicated that Mr***’s credit score had declined significantly since the time of his original applicationAs a result, he again failed to meet the program guidelinesA second statement of credit denial was issued to Mr [redacted] on February 23, The mortgage loan officer and her supervisor have each had several conversations with Mr [redacted] and, with his authorization, with his daughter Ms [redacted] ***We have provided the member with a credit analysis from our credit reporting vendor Factual Data which conveys recommendations for him on how to improve his credit scoreIn our last conversation, we encouraged him to reapply if he is able to improve his credit score enough to meet the minimum standards for the product If you have any additional questions please feel free to contact me directly Jennie J [redacted] Vice President Mortgage Lending NMLS Westerra Credit Union 303-329-

07/20/Revdex.com E Florida Ave SteDenver, Co303-758-Attn: [redacted] Dear [redacted] ; We are writing to you today in regards to complaint ID [redacted] filed 07/15/by our member [redacted] Westerra was contacted by our member [redacted] , requesting to skip a payment/extension, due to starting a new job The standard process for these requests is to determine eligibility This is done by asking a series of standard questions to all members and requesting additional information when necessary The request is then submitted to management for review During the review, management determines eligibility with the information that is provided If it appears the extension may not help to resolve the financial hardship the manager may request additional information to ensure Westerra is providing the appropriate solution In the case of [redacted] , upon managements review, the information that was initially provided in the request, did not support the extension as being the appropriate solution Therefore management requested additional information, to ensure the appropriate solution was provided Although [redacted] expressed her frustration for the Westerra representative asking for this additional information, the representative could have been more thorough in explaining why this information was being requested We strive to provide the best service and the right solutions for our members to help to ensure their financial success, therefore management has taken the opportunity to providing coaching to the representative Since the date of this complaint Westerra has spoken with [redacted] to discuss her concerns and attempt to resolve the situation An appropriate solution has been determined based on additional information being provided The extension was not the right solution but modifying the monthly payment is; therefore Westerra is moving forward with [redacted] on a loan modification [redacted] has expressed her appreciation in identifying and offering this solution Sincerely, [redacted] SrCollections Manager Tell us why here

Unfortunately, we are unable to release specific information regarding Mr***’s loan application. If Mr*** would like additional information, please contact Mike G*** at 303-784-

We are writing you today in response to a complaint filed by our member Ms*** on 2/8/Westerra received a complaint letter from Ms*** on 10/19/regarding the remaining balance on her auto loan. Ms*** believed she made payments since the inception of her loan.
During a phone call on 10/20/we informed Ms*** only payments had been made Westerra sent an email and letter as a follow up to the discussion held on 10/20/In this letter we explained to Ms*** that she requested to skip two payments in November and one payment in February 2013. Attached to the letter and email sent to our member was the pay history and copies of these extension agreements Also included was an amortization schedule of remaining payments, at her monthly installment payment of $and one final payment of $203.67. The members due date is the 6th of each month. The month of November Ms*** made her regular installment of $on 11/17/2015, which was ten days past the due date and therefore was charged a $late chargeThis increased the ending balance that was provided to her on 10/28/by $15.00. Ms*** called in on 12/28/to request a new payoff a*** and was advised it would be $as of that date of her callWhen the representative asked what day she thought she would actually be bringing in the payment, she did not knowThe representative advised Ms*** that this loan accrued cents a day in interest and that would make a difference when Westerra actually received her payment in full. We received a follow up letter from Ms*** on 1/12/that stated she did not understand why we were charging her cents a dayA response letter was provided to Ms*** on 1/15/which explained the cents a day was part of the interest figure given to her on the amortization page sent in OctoberThe total interest due was $from 10/28/to 3/6/This was not a charge above and beyond what we discussed in October The letter also itemized the interest that was taken from each payment. Also provided in this letter was an updated amortization schedule through 3/6/2016. In summary, the reason for the payments which extend past the original maturity date, is due to the extensions our member Ms*** took advantage of during the course of the loan. The interest being charged on the remaining balance is minimal and has only been accrued as outlined in her original contractThe $late charge was incurred when the November payment was paid late. The responses to Ms***’s inquiries have been done so in a timely matter and as descriptive as possible. If Ms*** would like to discuss this matter further we would be happy to discuss it with her. Sincerely *** ***SrCollections Manager ###-###-####***

Complaint: ***
I am rejecting this response because: I left message with Mike, however I really do not know how speaking with him is going provide a resolution since the underwriting, I was told was system generated declineThis merely support the fact that the credit union made a decision on my application prior to review income documentation and employment. It is the company decision to act in this manner, however with acknowledging their approval process for loan it is misrepresentation of their servicesHad I knew that that my ability to pay or credit payment history would not be part of loan approval process I would not have ever appliedI got approval the next day for another credit union, the credit inquiry needs to be removed
Sincerely,
*** ***

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to meVanessa was awesome in helping me complete this task today! I give her stars for putting up with me and doing the transfer! Job well done! She should get a raise! ***
Sincerely,
*** ***

This applicant applied through Ilendingdirect which is one of our refinance partners. During that process, the borrower gives authorization for their application to be forwarded to lenders like us. We have confirmed with Ilendingdirect that they did have the borrowers
authorization on this application. We also confirmed the information on the application that was forwarded to us pertaining to employment/income. The application that was provided to Ilendingdirect and Westerra Credit Union was different than what is described within this complaint. We are unable to removing the inquire from the borrowers credit report, as the request for credit was authorized by the borrower

This wire request was completed on 2/26/18.  The funds were deposited on 2/21/18, we needed to verify her identity prior to wiring out any funds.  We could do this one of two ways, either by phone or with a signature on the wire request. We were not been able to connect with her last...

week and there was no signature on the wire request; therefore, the wire was delayed until we were able to verify her identity.

Complaint: [redacted]
I am rejecting this response because:We are till in the process of getting this resolved. Cinthya has let me know it may take up to a week from receiving the information provided on February 26, so we are still on our way to resolution.  Here is the email correspondence so far.  On Friday, March 2, 2018, 10:04:19 AM MST, [redacted] <[redacted]@yahoo.com> wrote:Oh okay, Sounds good. I will let him know but I think since Wednesday he may have used some, I'll tell him to stop now. I will update the Revdex.com on the prgrcess we are making, thanks!On Friday, March 2, 2018, 9:29:05 AM MST, Cinthya A[redacted] <CMA[redacted]@westerracu.com> wrote:Good morning Kathy:I got your email and have uploaded a new app... I haven't pulled a new credit report thou I want to wait for at least a week to give time for some of those credit card companies to report me balances.Please have your dad hold off from using his credit cards again or making any large cash deposits. I'll keep you posted.And thank you for replying to Revdex.com that this has been resolved.Thank youThis electronic message transmission contains information from Westerra Credit Union, which may be confidential.  If you are not the intended recipient, be aware that any disclosure, copying, distribution or use of the content of this information is prohibited.  If you have received this communication in error, please notify us immediately by email or by phone 303-321-4209 and delete the original message.  Thank you.-------- Original Message --------From: [redacted] <[redacted]@yahoo.com>Date: Fri, March 02, 2018 8:46 AM -0700To: Cinthya A[redacted] <CMA[redacted]@westerracu.com>Subject: Re: RE: Credit Xpert for [redacted]Hi, Cinthya! Sorry to bother, but do we have any word on this? I have to respond to Revdex.com by the end of today whether this has been resolved or if we are still in the works. I'll put in that it's still in progress unless I hear otherwise.Thanks! Have a good weekend. On Wednesday, February 28, 2018, 9:06:38 AM MST, [redacted] <[redacted]@yahoo.com> wrote:Hi, Cinthya! Any update on this or any idea when we may have an answer? Also, was my father able to use his credit cards/make cash deposits as normal now? On Monday, February 26, 2018, 9:43:53 AM MST, Cinthya A[redacted] <CMA[redacted]@westerracu.com> wrote:AwesomeThank youThis electronic message transmission contains information from Westerra Credit Union, which may be confidential.  If you are not the intended recipient, be aware that any disclosure, copying, distribution or use of the content of this information is prohibited.  If you have received this communication in error, please notify us immediately by email or by phone 303-321-4209 and delete the original message.  Thank you.-------- Original Message --------From: [redacted] <[redacted]@yahoo.com>Date: Mon, February 26, 2018 8:48 AM -0700To: Cinthya A[redacted] <CMA[redacted]@westerracu.com>Subject: Re: RE: Credit Xpert for [redacted]Hi, Cinthya. I have completed all of the steps. Thank you!On Friday, February 23, 2018, 5:15:14 PM MST, Cinthya A[redacted] <CMA[redacted]@westerracu.com> wrote:Please contact me once all of the steps have taken place, we will then load a new app and re pull credit. Thank you!! Cinthya A[redacted] | Mortgage Loan Officer | Westerra Credit UnionO: 303-228-1338| F: 866-208-1596| C: 303-241-5863| E: cma[redacted]@...⇄ NMLS: 951412
Sincerely,
[redacted]

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.
Sincerely,
[redacted]

To whom it may concern
This message is in response to the complaint filed by Ms. [redacted]. Please note that Ms. [redacted] is not a party to the transaction in question but is the daughter of our member, Mr. [redacted]. Mr. [redacted] applied with Westerra Credit Union on October 31st...

2017 for a cash out debt consolidation refinance of his primary residence under one of our portfolio mortgage products. The portfolio mortgage products are designed to help members who cannot qualify under standard federal mortgage agency guidelines, and as such they have specific requirements regarding credit worthiness and cash reserves in order to substantiate that the member has the ability to manage their credit and financial affairs. In January of 2018 after all attempts were made to qualify the member, Mr. [redacted]’s application was declined and a statement of credit denial was issued and mailed to the member on January 11th 2018, as evidenced in our file.
On February 1, 2018 the member reapplied after obtaining the necessary cash reserves through the sale of two autos to his daughter, Ms. [redacted]. With that new application a new credit report was pulled, which indicated that Mr. [redacted]’s credit score had declined significantly since the time of his original application. As a result, he again failed to meet the program guidelines. A second statement of credit denial was issued to Mr. [redacted] on February 23, 2018.
The mortgage loan officer and her supervisor have each had several conversations with Mr. [redacted] and, with his authorization, with his daughter Ms. [redacted]. We have provided the member with a credit analysis from our credit reporting vendor Factual Data which conveys recommendations for him on how to improve his credit score. In our last conversation, we encouraged him to reapply if he is able to improve his credit score enough to meet the minimum standards for the product.
If you have any additional questions please feel free to contact me directly.
Jennie J[redacted] Vice President Mortgage Lending NMLS 517221
Westerra Credit Union
303-329-4571

07/20/2016 Revdex.com 3801. E Florida Ave Ste. 350 Denver, Co. 80210 303-758-2100 Attn: [redacted]   Dear [redacted];   We are writing to you today in regards to complaint ID [redacted] filed 07/15/2016 by our member [redacted]   Westerra was contacted...

by our member [redacted], requesting to skip a payment/extension, due to starting a new job.   The standard process for these requests is to determine eligibility.  This is done by asking a series of standard questions to all members and requesting additional information when necessary.  The request is then submitted to management for review.  During the review, management determines eligibility with the information that is provided.   If it appears the extension may not help to resolve the financial hardship the manager may request additional information to ensure Westerra is providing the appropriate solution.   In the case of [redacted], upon managements review, the information that was initially provided in the request, did not support the extension as being the appropriate solution.   Therefore management requested additional information, to ensure the appropriate solution was provided.    Although [redacted] expressed her frustration for the Westerra representative asking for this additional information, the representative could have been more thorough in explaining why this information was being requested.   We strive to provide the best service and the right solutions for our members to help to ensure their financial success, therefore management has taken the opportunity to providing coaching to the representative.    Since the date of this complaint Westerra has spoken with [redacted] to discuss her concerns and attempt to resolve the situation.  An appropriate solution has been determined based on additional information being provided.  The extension was not the right solution but modifying the monthly payment is; therefore Westerra is moving forward with [redacted] on a loan modification.  [redacted] has expressed her appreciation in identifying and offering this solution.    Sincerely,     [redacted] Sr. Collections Manager Tell us why here...