ComplaintsforIntegrity Mortgage Group

• Initial Complaint

  11/26/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  As of September 3, 2021 I began the process of exercising my option to buy my least to own home where I was residing. As time progressed Ms. ****** ******* of Integrity Mortgage Group who was assigned to my loan request that I followed her exact instructions to make this process run smooth. Keep in mind that my credit was ran by IMG and was qualified to start the loan process, The reason I began to exercise my option to purchase was because my rental agreement was coming to an end on September 30, 2021 and was told by the property manager that I was unable to extend any further. So I panicked and proceeded to contact IMG to investigate what my current status was and if my credit score had gone up therefore qualifying me to begin the loan process. Ms. ****** ******* congratulated me and lifted a heavy burden off my shoulders. I was relieved as I was able to move forward, I even shared the information with the manager of the home that I qualified and was in the process of obtaining a loan to exercise my option to buy and would no longer be needing an extension to the rental lease agreement I was requesting, after he asked me if I was sure I wouldn't need an extension, I felt confident enough to say that I was sure. Moving forward I began executing every request per Ms. ******* from paying all my current debt including my credit cards which I used to build my credit as directed by Ms. ****** ******* in the past 23 months prior to the beginning of this process. After this long 2 month exhausting, misleading, and disappointing journey I was denied the loan, and this lead me to loose the opportunity to purchase the home and facing a possible eviction which in turn leaves me homeless with nowhere to turn. If I could look into a crystal ball and see this outcome, I would've chosen a different agency to handle my loan and maybe just maybe lived the American dream of owning my own home. This agency is misleading, untrustworthy, and lacks the true meaning of Integrity.

  Business response

  01/04/2022

  Business Response /* (1000, 5, 2021/12/09) */ We are very sorry that we were unable to provide financing for Mr. ******, however the circumstances that led to this situation were not under the control of Integrity Mortgage Group. Unfortunately, during the process of underwriting Mr. ******'s loan, we were not provided with sufficient proof that various conditions required by the underwriter were met. We are not able to publicly discuss the specifics of the situation under federal law protecting Mr. ******'s privacy. These conditions were outstanding as of 10/30/2021, at which point Mr. ******'s option to purchase the home under his rental contract expired. The seller, being aware that market prices had increased significantly in the year since the option to buy contract was signed, declined to extend the contract. Unfortunately the sellers action ended any possibility of us lending on the house, since Mr. ****** was not under contract to purchase it. Mr. ****** is and was free to pursue a new contract on the property, or any other property he might choose to attempt to purchase, but such action is not within our ability to pursue, not being a party to the contract that was unfulfilled. Our understanding is that the parties were unable to come to terms on what the new contract price should be. For our part, we believe we acted appropriately (and according to existing Conventional mortgage lending guidelines) in requiring that the borrower meet our underwriter's conditions prior to approval. Unfortunately, the end of the contract prevented us from making any credit decision, since the loan was withdrawn for lack of property at that point. We do not agree with Mr. ******'s assertion that he met every request we made as a condition of receiving the loan, nor did we make any ultimate credit decision resulting in the borrower's current living situation. We very much regret that Mr. ****** is unhappy with the ultimate outcome, but the underwriting guidelines in question are set by **********, Freddie Mac, and various other agencies or government sponsored entities. It is not within our power to waive conditions to help a borrower meet a contractual deadline.

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