Date Received: 2023-12-15
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue: Application denials
Consumer Complaint: On XX/XX/2022 my mortgage loan application was denied by Navy Federal Credit Union. According to the denial letter received, the reason for the denial was due to " excessive obligation in relation to income. '' The loan officer assigned to my file was XXXX XXXX, XXXX XXXX XXXX XXXX At that time, I was under contract for a home purchase for a property located in XXXX, VA, which was due to close on or before XX/XX/2022. The reason for the denial was not justifiable. I had a strong financial and credit profile with a credit score of XXXX, was putting down a 20 % down payment for a conventional 30 year fixed mortgage, and I was paying off a debt with NFCU prior to closing. I have been a member with Navy Federal Credit Union for over 20 years, have held several accounts and loans in satisfactory status, including most recently, a mortgage in the amount of {$350000.00}, which was paid off in full from the sale of my home on XX/XX/2022. From my initial interaction with the loan officer, I did not feel she was working in my best interest. I had reached out several times by phone and email with questions about my loan file and process and did not receive responses or follow up in a timely manner. On XX/XX/XXXX, I called the NFCU Customer Service line and requested to have my loan officer reassigned due to the lack of follow up and unresponsiveness. I was never reassigned. In addition to this, I expressed my concern with XXXX XXXX, the loan officer, about wanting my loan documentation and file verified upfront prior to going under contract on a property. They stated that they could not do this. I was issued a pre-approval in the amount of {$320000.00} with room to go up even higher according to the loan officer. The contract price for the property I was under contract for was XXXX with a 20 % down payment, bringing the loan amount to {$190000.00}. I was locked in at an interest rate of XXXX with a float option. Based on all the above mentioned reasons, this was a major discrepancy where this loan should NOT have been denied. Although my prior XXXX year work history and income was provided, I also offered to show proof of income for my income earned year to date in XX/XX/2022, and was told that information would not be considered. My savings account at NFCU demonstrated sufficient proof of funds, to cover the 20 % down payment required, plus the NFCU credit card debt payoff, as well as cash reserves to cover 12 months of mortgage payment. Based on this information, I feel I was unfairly denied a mortgage loan and discriminated against because of my race and identifying as XXXX.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: VA
Zip: 23321
Submitted Via: Web
Date Sent: 2023-12-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-14
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: On XX/XX/2023 I contacted Navy Federal Credit Union regarding account XXXX of my exercising my federal right as a consumer to opt of reporting to XXXX, XXXX and XXXX. According to the Fair Credit Reporting Act 15 USC 1681a ( 2 ) ( A ) ( i ) Exclusions- report containing information solely as to transactions or experiences between the consumer and the person making the report. Transaction history should not be reported unless otherwise directed by the consumer. According to the Fair Credit Reporting Act 15 USC 1681 section 602 a states " There is a need to insure that consumer reporting agencies exercise their grave responsibilities with fairness, impartiality, and a respect for the consumers right to privacy. '' XXXX, XXXX and XXXX are consumer reporting agencies and I am the Consumer. I have the right to make sure my private information isn't shared which is backed by 15 USC 6801 which states '' It is the policy of the Congress that each financial institution has an affirmative and continuing obligation to respect the privacy of its customers and to protect the security and confidentiality of those customers nonpublic personal information. '' Navy Federal Credit Union is a financial institution by definition under that title. 15 USC 1681 section 604 a section 2 states that " In general Subject to subsection ( c ), any consumer reporting agency may furnish a consumer report under the following circumstances and no other : in accordance with the written instructions of the consumer to whom it relates. '' Navy Federal Credit Union- the financial institution , and the consumer reporting agencies XXXX, XXXX and XXXX XXXX not have my consent to furnish this information and they surely do not have my written consent. Any and all consent to XXXX, XXXX, XXXX and Navy Federal Credit Union whether it be verbal, non-verbal, written, implied or otherwise is revoked. 15 USC 6802 ( b ) ( c ) states that " A financial institution may not disclose nonpublic personal information to a nonaffiliated third party unless the consumer is given an explanation of how the consumer can exercise that nondisclosure option. '' Navy Federal Credit Union never informed me of my right to exercise my nondisclosure option. Not only that, 15 USC 1681C ( a ) ( 5 ) states '' Except as authorized under subsection ( b ), no consumer reporting agency may make any consumer report containing any of the following items of information : Any other adverse item of information, other than records of convictions of crimes which antedates the report by more than seven years. '' This account is an adverse item they are reporting again without my permission which is against the law. 15 U.S. Code 1681s2 ( A ) ( 1 ) A states " A person shall not furnish any information relating to a consumer to any consumer reporting agency if the person knows or has reasonable cause to believe that the information is inaccurate. 15 U.S. Code 1681e states '' Every consumer reporting agency shall maintain reasonable procedures designed to avoid violations of section 1681c of this title and to limit the furnishing of consumer reports to the purposes listed under section 1681b of this title. XXXX, XXXX and XXXX are not maintaining reasonable procedures. Also XXXX XXXX XXXX states that " A consumer may exercise the right to opt out at any time. '' I am opting out of your reporting services. In addition, this account is shown on my credit report as a XXXX from Navy Federal Credit Union XXXX credit report attached ). The IRS clearly states that a consumer should receive a 1099-C filed by the financial institution with the IRS for that Charge-Off. The IRS and FCRA clearly states that income can not be reported to a consumer report.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: FL
Zip: 338XX
Submitted Via: Web
Date Sent: 2023-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-14
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: 1. NAVY FEDERAL WAS SENT A NOTICE OF ERRORS, AND NOTICE TO CURE FAULT, AND NOTICE TO REMOVE DEBT REPORTING MORE THAN 120 DAYS PAST DUE AND IS ENTITLED TO DISCHARGE. 2. CURRENTLY, IT IS BEING REPORTED TO THE CREDIT BUREAUS THAT LAST PAYMENT WAS MADE XX/XX/ WHICH MEANS THE DEBTS XXXX PAST DUE AND IS DEEMED NON-COLLECTABLE AND ENTITLED TO DISCHARGE. 3. LASTLY, THIS ALLEGED DEBT IS ENTITLED TO DISCHARGE DUE TO PUBLIC LAW 73-10 OF HJR
Company Response: Company believes it acted appropriately as authorized by contract or law
State: GA
Zip: 30316
Submitted Via: Web
Date Sent: 2023-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-14
Issue: Problem with a lender or other company charging your account
Subissue: Transaction was not authorized
Consumer Complaint: On XX/XX/XXXX, I received an alert on my phone from my credit union ( Navy Federal ) that there was suspicious activity occurring on my checking account. I received a follow up phone call from a NFCU representative to review my account history. Upon further review, we determined that multiple unauthorized charges were posting from XXXX ranging in amounts from {$2.00} through {$390.00}. The bulk of the larger charges occurred within that week, which alerted NFCU. However, after reviewing my bank statements, I determined that there were multiple unauthorized charges to my account from XXXX over the last 3 months. The representative filed 2 fraud claims on my behalf, XXXX for {$410.00} and another for {$2500.00}. The representative sent me a Statement of Forgery to complete. XX/XX/XXXX I contacted XXXX to determine the source of the charges as there is no record of them in my purchase history. The XXXX representative confirmed that an excess of XXXX UNAUTHORIZED charges posted to my account that did not originate from my XXXX XXXX. They would not provide any information on where the charges came from. XXXX initiated a claim for a refund but ultimately denied it and did not provide a reason. XX/XX/XXXX I contacted Navy Federal and was told that both claims were denied and I had the option to appeal. I submitted the statement of forgery and bank statements for XXXX, XXXX, and XX/XX/XXXX highlighting all unauthorized charges from XXXX. I confirmed that I did not authorize or provide card information for anyone to complete a transaction with XXXX. I also provided my XXXX purchase history proving that the unauthorized transactions did not originate from my XXXX account. I received a notification from NFCU that a 3rd fraud claim was filed on my behalf in the amount of {$790.00}. On XX/XX/XXXX a 4th fraud claim was filed on my behalf in the amount of {$640.00}. Navy Federal provided provisional credits and then denied 2 of the claims, reversing the credits of {$410.00} and {$640.00} ( due to come out of my account on XX/XX/XXXX ). I now have a total of {$4400.00} in unauthorized charges from XXXX that I am seeking reimbursement for. I am not confident that XXXX or NFCU will cover the fraudulent charges as both institutions have passed the responsibility back and forth. I am caught in the middle with a large amount of money taken from my account. This has caused me great financial hardship as this is in the middle of holiday season. I appreciate any assistance with getting my funds reimbursed as the charges were indeed unauthorized.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: DE
Zip: 19709
Submitted Via: Web
Date Sent: 2023-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-14
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue: Application denials
Consumer Complaint: This complaint is more of just an FYI since I don't expect anything to happen as a result, but I just wanted to voice my concerns in response to the XXXX article regarding Navy Federal. Here is the article : XXXX XXXX XXXXXXXX My primary concern is that in XX/XX/2021, my wife and I applied for a Navy Federal loan so that we could renovate our primary bedroom 's bathroom. We were seeking about $ XXXX, if my memory serves me. Mind you that we both at the time had credit scores well above XXXX or in the XXXX range, yet our loan was denied. As an XXXX American and retired XXXX veteran, we were insulted when we received the denial news from Navy Federal because we had never been denied a loan from any bank in the past and couldn't understand how it was possible ( given our credit scores ) we would have our loan denied. We did not contest it and just moved on because we only intended to use the Navy Federal loan as a bridge to pay for the bathroom renovation, while we waited to receive other funds from my retirement account to be processed. Our intent was to pay off the Navy Federal loan once my retirement funds were received, which we anticipated would occur within 2 months of our loan application. I don't expect any action from CFPB, but I wanted to go on the record after seeing the XXXX article today.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: MD
Zip: 21208
Submitted Via: Web
Date Sent: 2023-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-14
Issue: Improper use of your report
Subissue: Reporting company used your report improperly
Consumer Complaint: NFCU Account # XXXX is reporting transaction history since the opening of this account and should not be. The Law says it is illegal to report transaction history. I have a Federally protected right to privacy and the reporting of this information violates my rights pursuant to Privacy Act of 1974 and 15 U.S. Code 1681a - Definitions ; rules of construction. ( 2 ) Exclusions.Except as provided in paragraph ( 3 ), the term consumer report does not include ( A ) subject to section 1681s3 of this title, any ( i ) report containing information solely as to transactions or experiences between the consumer and the person making the report
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 75211
Submitted Via: Web
Date Sent: 2023-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-13
Issue: Problem with a purchase shown on your statement
Subissue: Credit card company isn't resolving a dispute about a purchase on your statement
Consumer Complaint: An unauthorized charge of {$3200.00} on XX/XX/2023 was charged to my credit card. Ive tried disputing with navy federal but was told theres nothing they could do about it without proper documentation. Ive submitted documents and was told those wouldnt work. So I appealed for a 2nd time with more documents and was told I can no longer appeal my case. This charge has been extremely detrimental to my credit score and completely unacceptable
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 94509
Submitted Via: Web
Date Sent: 2023-12-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-14
Issue: Incorrect information on your report
Subissue: Information is missing that should be on the report
Consumer Complaint: I just received my credit report for XXXX and XXXX, and they told one of my Navy Federal loan accounts are not being reported by the bureaus.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: DC
Zip: 20018
Submitted Via: Web
Date Sent: 2023-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-14
Issue: Incorrect information on your report
Subissue: Information is missing that should be on the report
Consumer Complaint: I just received my credit report for XXXX and XXXX, and they told me one of my Navy Federal loan accounts are not being reported by the bureaus.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: DC
Zip: 20018
Submitted Via: Web
Date Sent: 2023-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-12-14
Issue: Problems at the end of the loan or lease
Subissue: Unable to receive car title or other problem after the loan is paid off
Consumer Complaint: The reason for this inquiry today is because Navy federal has failed to perform, and is in breach of their fiduciary responsibilities. I have contacted Navy Federal on several occasions last attempt was on XX/XX/XXXX. I have requested the authoritative copy of contract and all other documents pertaining to my consumer loan and disclosures. I have also requested my XXXX XXXX free and clear as there is no lien on my car. And XXXX XXXX of any XXXX forms that the company has filed. As per the companys XXXX XXXX report, Navy federals loan portfolio consist of consumer loans, credit cards and real estate loans. Consumer loans consist of secured loans ( auto loans ). At origination all consumer, credit card loans and equity loans are classified as held for investment. In which I saw no dividends/interest paid out to me. Navy federal securitized the loan and benefited from my securities as well as double-dipping. I also sent them endorsed negotiable instruments and again they failed to perform. Navy Federal also inaccurately reported to the Bureaus that I defaulted on public debt and listed the account as charged off instead of paid as agreed.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: NY
Zip: 10550
Submitted Via: Web
Date Sent: 2023-12-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A