Complaint #1535976 submitted on 08/25/2015 relating to Cardinal Financial Company, LP. Complaint relates to Mortgage Conventional fixed mortgage - Credit decision / Underwriting .
Complaint was submitted via Web and sent to the company on Wednesday 2nd September 2015.
I applied for XXXX refinance loans via internet from a company called Cardinal Financial. They called me, checked my credit, which is in the top 1 %, indicated they would freeze the rates if if I paid for the appraisals that day, which I did. The appraisals were completed XX/XX/XXXX, with both properties being appraised with over {$500000.00} in equity. The process bogged down for nearly XXXX months from what they indicated was a work overload for their underwriters.
In addition to the equity in the properties, I have no debt other than the mortgages and related insurances, XXXX years of credit history, {$54000.00} in annual rental income, {$26000.00} in social security, {$400000.00} in liquid cash in the bank and annual business income of {$100000.00}. Finally, this month they declined both loans as my not meeting debt to income ratios, which is impossible and refuse to refund the appraisal costs.
I believe the real issue is that I am XXXX years old and they lost the price freeze on the loans due to their own incapability of processing.
XXXX XXXX XXXX XXXX XXXX XXXX, California XXXX
Older American
| Company | Cardinal Financial Company, LP |
| Complaint ID | 1535976 |
| Date Received | 08/25/2015 |
| Product | Mortgage Conventional fixed mortgage |
| Issue | Credit decision / Underwriting |
| State/ZIP Code | CA 926XX |
| Consumer Consent | Consent provided |
| Company Public Response | Company believes it acted appropriately as authorized by contract or law |
| Company Response To Customer | Closed with explanation |
| Submitted | Web 09/02/2015 |
| Result | Timely Response: Yes, Consumer Disputed: No |
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