Lender used our money to order an appraisal before all paperwork was received. Will not give refund after application denial.
My wife and I started our mortgage loan application on 9-1-2014 with ***** ********** out of the Mesa, AZ branch (MMLS ******). We jumped through many hoops during underwriting to try to be approved for this loan, such as paying off AND closing 4 credit accounts, amounting to about $7,000. During this time we sent CountryPlace a $550 cashiers check to pay for an appraisal, which we were told was going to be the last step in this long process. On 10-1-2014, ***** sent an email informing us that the appraisal was ordered however she was still in need of a couple items! One email she even stated, "We are getting closer!" on 9-25-2014. The day that the appraisal was done (10-15-2014), ***** called us to let us know that we were not approved for the loan because neither she nor the underwriter had the IRS Transcripts until earlier that same day. But the appraisal was paid for and ordered over two weeks before that. The paperwork should have been completed before this happened especially since the process all started on 9-1-2014. We provided all of the paperwork they asked for including the first two pages of our 2013 Tax Returns. They did not inform us that they were missing a page from those returns, and did not wait for the IRS Transcripts to arrive before ordering the appraisal. The last phone call ended with a very unprofessional ***** informing us that it was our fault that we didn't provide that specific page a month a half ago, and that we could not get the appraisal money refunded. We feel that after all the hoops we jumped through, the $7000 we spent paying off debt AND sending her proof that the accounts were paid off and closed, that we should not have been treated as if we were at fault and a complete waste of *****'s time. We still have not received any proof that the appraisal was even completed, so as far as we know, we paid CountryPlace $550 for a service we did not receive.
All we seek is a refund for the $550 sent to CountryPlace for the appraisal. Over a week after ***** informed us that we were denied, we still have no proof that the appraisal was completed. For all we know, the appraisal was not actually done.
In the month and a half timeframe that CountryPlace had all of our paperwork, neither ***** nor the underwriter NOTICED that they needed one extra form from our 2013 Tax Returns. We were instructed over the phone to send in the first two pages of the return, so we did. On the second page of the return, there was a line for itemized deductions with a large dollar amount. Somehow that amount did not seem like a big concern at first. After receiving the IRS Transcript of the items (which we could have sent them if they asked for it) they realized that a large amount of the items deducted were for tools for my career. When ***** broke the news that we were denied, I explained to her that it was a one time purchase and does not happen often, and asked her why they thought the large amount of deductions was no concern over a month ago?!?! ***** had the guts to say that, "she is not an accountant and it's not her job" to know what those dollar amounts on the returns are for and to notice if vital paperwork like that is missing. I have never met a Loan Officer who says its not her job to know numbers and dollar amounts! That's like saying it's not an auto-mechanics job to know electricity!
It appears, at the heart of the matter, that Mr. ********* is looking to have his appraisal fee reimbursed due to improper actions by CountryPlace Mortgage. The customer indicates that we should not have ordered his appraisal without having a particular IRS document (4506T) received prior to ordering his appraisal. The document from the IRS is an anti-fraud related document as it pertains to tax returns. The "Needs List" that our Loan Officer sent to Mr. ********* prior to approval and appraisal ordering, indicates we did in fact ask for his complete tax returns, of which, he provided the first two pages. The customer states that we "Verbally" asked for the first two pages. That is not accurate statement. In a telephone conversation that I had with Mr. ********* after his loan was declined, I advised him that after comparing what he sent versus what the IRS had, we were not provided his complete return as requested. Mr. ********* said he did send the whole tax return. When I told him I reviewed the email he sent to our Loan Officer and it only contained the first two pages, he said we should have known that was not the complete return. I explained that if we ask for the complete tax return and we get page 1 and 2, and it does not include anything else, we believe that is the full return as it is the signed page of the return and no further schedules exist. There is nothing in what Mr. ********* sent to our Loan Officer, to believe there were additional schedules.
In response to the appraisal being ordered before the 4506T was back. Unfortunately, there is no set time when you order the appraisal on each loan. Each loan is like putting a puzzle together and different pieces are needed at different times along the way. The appraisal is an integral portion of the puzzle and must be ordered toward the beginning of the transaction to meet established close of escrow dates set by the purchase contract. Our Loan Officer tried to head off the issue that Mr. ********* ran into when we received the IRS 4506T. That IRS document revealed a fact that no longer qualified Mr. ********* for the loan. The information found in the 4506T would have shown up in the complete tax returns, had they been provided by the customer as requested by our Loan Officer. The fact is, there are many reports, services, and functions that need to be done in concert with one another and to wait until all possible obstacles are removed prior to ordering an appraisal would delay a loan from meeting the established close dates provided by the buyer and seller.
Regarding Mr. ********* having a copy of his appraisal, we are happy to provide him with a copy and it will be sent immediately to him via email. Everyone in this transaction was extremely disappointed the loan did not close. It is regrettable that funds were spent and the loan did not close, but this was not a result of CountryPlace Mortgage's improper handling of Mr. *********'s loan.
(The consumer indicated he/she DID NOT accept the response from the business.)
Yet again I am being told it's "my fault" when the companies "professional loan officer and underwriter" both ignore key information that was given to them. There were several emails with attached files I had to resend because the lender "did not" recieve them the first time. This did not happen just one time but maybe 2-3 times. I am not a tax professional and had my taxes done last year by a tax preparation company but for some reason the "professional loan officer and underwriter" are telling me it's not their job to know what the numbers on the pages of the tax return are. Isn't that what your job is supposed to include? why else would you ask for them? I was told that the "X" number of dollars for my deductions was ok and was not a problem until they got the IRS form back which showed the page they were missing. They continue to blame me for not including these page when I did not know it was there, but after looking further into the stack of papers I had I finally found the page they were missing. It still is not an excuse that the loan officer and underwriter "did not" know there were any other pages. When I looked back at the return I have the standard deduction is $11,500 if I am not mistaken. However the actual deduction listed was much higher than that and for some reason no questions were asked to where the deductions came from and this is where they say it's not "their" job to know what those numbers mean because they are not tax professionals. I feel like I am being told a BS when I am being told that.
Regarding the time in which to IRS form was received and the appraisal being ordered, it would not have taken more than an extra couple days for it to be received and avoid this whole problem but the problem still not would have been an issue if the loan officer had actually looked into what tax forms they had received and asked why my deductions were so high. The number it self was no problem according to the officer but was behind that number apparently was.
I really did not care if I got the appraisal but the only indication I got it was done was over the phone at the same time I was told I was no longer approved. A bit concerning to me being told at the same time.
Not only did I not receive the appraisal at first but when I called to try and get a refund I was told I could not and it was my fault yet again that this happened. A few days later I filed a complaint with the BBB and it was not until after the complaint I received an email with all the communication the appraisal company had with the lender which also indicated Countryplace charged me $550 for the appraisal and it showed in the emails that the appraisal was only $450. At that point I emailed countryplace back saying I had not requested the emails but asked why I was charged $550 for a service that was only $450. It was not until after this that I was informed that I will be getting a refund for the $100 but not the other $450 that never should have been spent. I also received the appraisal shortly after.
It is sad that I have to file a BBB report to get anywhere with this company and continue to get blamed for my situation from the "professionals" of the office I have been dealing with.