I am writing this report because I feel that we were taken advantaged of by Countrywide Home Loans, Inc in Waldorf Maryland.in January (second to last week), I had called Countrywide Home Loans regarding refinancing our mortgage for a rate that was better that what our previous mortgage lender was offering us. I spoke with the loan officer at length and she told me that they would be able to do the loan.
We had a loan already approved by our current mortgage company and because we were told that we could have gotton a better deal we cancelld the loan. We submitted all the information that Countrywide loan officer requested by February 6th. I had to call the company on numerous occasion before we finally received the truth in lending statement at the end if February. We were asked to return the package by March 6 which we did.
After we hadn't heard from the loan officer within the week, I called and she never returned the call. This kept up for weeks. I finally got a hold of her towards mid March at which time she told me that our loan application was sent to underwriting. We still didn't know if we were approved for the loan as of the end of March. I received a phone call from an appraiser stating that he was going to come by to do an appraisal of the property. After he completed the appraisal, he asked me if we were still closing on April 14th.
I was a bit taken back because Countrywide never communicated this with us. I told him yes. For the first two weeks in April, we tried to get someone to tell us the status of our loan application and whether we were approved or not. No one returned a call or even let us know what was going on.By this time, my old mortgage company had reported us 30 days late after we had turned down the loan, we had lost out on getting our escrow back, and the chance to save on the two months mortgage payments. On April 9, my husband finally got a hold of the loan officer who told him she had received our application back everything looks ok and that she will call his wife tomorrow at 9:00AM. We never received any call from the loan officer.
I took time from work on April 11th to go into the office personnaly. I was ushered into the mangers office and he asked what can he do for me. I told him I was there to find out the status of our loan and what is taken so long. He turned to me and said. "I only know you for a minute and you want me to tell you the status of your loan? He proceeded to tell me "Tell me what your questions are and I will research them and get back to you". During the conversation, he told me that our loan went to the underwritters and came back unapproved. He told me that there was another company under Countrywide called Full Spectrum but they could do nothing for us.
I proceeded to tell the manager that I would like my application and my money back and he said sure and said he would processed the money we had submitted for the appraisal/credit report. The next day, I received a statement that was sent to the Federal Trade Commission stating that we had withdrawn our application before it was approved. This was done by the manager.
I filed a report with HUD who send the complaint to the Maryland Commission on Human Relations and Countrywide has lied its way out of all the allegations and was found with having done no wrong. This company seems to think because it is such a large company it can get a way with treating customers in such inhumane ways. The manager even stated in his response to our complaint that we were not qualified for their loan package.
My question is, if we were not qualified shouldn't they have told us this? Why did they have an appriaisal done on our property if they find us to be unqualified for their loan. Frankly, we had a prefectly good loan and because of countrywide's bad business practices we forfeit the loan and could not even get another loan because of the late notice that was submitted to the credit bureau.
I am asking anyone who has had any problems of this nature to plese contact me because I am willing to go all the way to make Countrywide pay for the big injustice that was done to us. They treated me and my husband with the utmonst unprofessionalism. And had the nerve to say it was because they were busy with loan application why it took so long to let us know if we were approve for the loan. I have refinance my home four times, and all the companies were very, very business. However, the most I had to wait was 45 days to closing. And if the company was soo busy, when I went in to the office the least the manager could have said was we are really busy and that's what's taking so long. He never even appologized.
This situation has caused us much pain and financial hardship. I asked again, if there is anyone else that has been disinfrenchised by this company, I am willing to go after them with a Class Action suit. Countrywide Home Loans, Inc would lie its way out of any situation to protect its name. This has got to stop. Thank you.
Jean
Clinton, Maryland
U.S.A.
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