On or around May 8, 2008, I applied for a re-finance loan on my home. I spoke Phyllis at First Choice Funding and my credit was checked with the credit bureau. at this point, I was told that my loan was approved and we preceded to verifying my income. When asked about who live with me, I told Pyllis, that my mother lived in the house with me and her income paid some of my bills. Pyllis, asked her manager if she could use my mother's income on the loan application, and the answer was yes. So, we went to the next step, I provided all of the income statements, Durable Power of Attorney, bank statements, deeds and easement.
After clearing up title issues, the title work was completed.
Before the completion of the title work, I asked Phyllis, how long will it take to close after the title work and I was told by Phyllis, that she could close the next day, if she had the title work. At this point, the loan had been approved and the title work was completed, Phyllis kept making excuses, like, she had not heard from the Gov't underwriter. Then, I, was told by Phyllis, that my loan will close at the end of July 2008. From, May to July, Phyllis had me going back and forth to the bank to get updated statements, etc.
I, called almost every day to see if I was going to close, and Phyllis kept stalling. After, I, had provided all of the documents to Phyllis, she said that the Gov't underwriter wanted me to go before the judge to obtain guardianship, for my mother. After speaking with a lawyer in reference to guardianship -vs- DPOA, I was told that, usually guardianship is obtained for medical reasons, when applied to adults. Also, that the guardianship is used for a specific purpose and once that purpose is completed the guardianship is terminated, and the guardian can not benefit from the person that they care for.
When asked to see the guidelines, that was used to decide the fate of my loan application, Phyllis would not provide this information to me. When asked for the corporate office conntact person and number, Phyllis would not provide this information to me. When I, asked Phyllis to process the loan without my mother's income, She did not reply.
When the application was started in May 2008, it took over 2 months, for the guardianship to come into the picture, after I, had called almost every day, to get the status on my loan closing, after I, had paid $350.00 for an appraisal, after I, was told that I was approved for a loan, after the title work was completed and after I was told that I would close at the end of July.
If, I, had been told this when the income was being verified, I, could have had time to go before a judge, to obtain, guardianship.
After going out on the internet I, contacted the VP, with First Choice Funding, she upheld Phyllis on her wrong doing. So, I requested, the Name of the President, was never provided this information from the VP. I know, that I am not the only person that Phyllis has done this to. I have a relative that started her application in October 2007 to July 2008, and was sent back and forth to provide information that had already been given to Phyllis, being told that their loan had been approved, but not moving forward to close the loan. They ended up losing the deal on the house because of Phyllis, not providing the proper paperwork, and someone purchased the home.
This complaint may not make a difference now, but it may help someone else later, because Phyllis is allowed to deal in dishenest, and discrimation. And her corporate office VP is backing this type of fraudulent activity.
