This Corporation completely mishandled my loan application which resulted in damage to my credit report and ultimately the disapproval of a loan. I was supposed to move into a new home on February 28, instead I was notified on this date that after the lender made a hard inquiry on my credit report to verify that a dispute had been resolve, my credit score dropped below the required 620 to a 619. Up to that point, the Corporation never indicated there was a problem and everyone agree that the loan would be processed and completed after the dispute was removed.
Also, when I first contacted the Corporation and applied for a loan at the end of January, they indicated that my credit score was not sufficient and told me that they could do a rapid rescore after I paid off an account with a $1400 balance. I asked them if that is all I had to pay off and they said yes. Just to make sure that the score would increase enough, I paid off $9000 in debt. The rapid rescore was conducted and my credit score went to a 625. A few weeks after that, the Corporation notified me that a dispute had to be resolved on one of my accounts so I resolved the dispute. Rather than do a supplement to last credit inquiry, they pulled my credit report again and my score dropped six points. They took no responsibility and said that it was all my fault, even though I followed their instructions.
I received a preliminary approval letter provided all the required documents, paid off debt, got a $2500 raise and disability for a total income of $107k a year, bought furniture, notified family members, and made plans to move into this house and everything came to an end after the credit report inquiry. Nobody from the Corporation has attempted to contact me and explain why the loan was denied. Now my wife and I are both stressed beyond what we need to be. This is unacceptable. Please see the response from the Loan Processor below:
" (Name)
The credit report was re-pulled and the dispute was removed however the credit score dropped now that the account that was dispute is now counting in the credit scores. The middle credit score is only off by 1 point. We must have a credit score of 620 and your mid score is at 619 per the new credit. We will need to re-pull credit again in a few days and hopefully get the score back up to 620. Richmond has been notified and your sales agent will be contacting you if she has not already to discuss close date. I will also keep an eye out for the appraisal and in the meantime everything else is in for review. I will update you once we your file is out of underwriting as well as when the appraisal is received from the VA appraiser and credit ready to be re-pulled. Thanks"
This is the last response that I received. I found out from my sales agent that they denied the loan. They are snakes and I will never use this Corporation again.
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