Regions Bank / unethical and miss rep in mortgage application
This Regions Bank is one that is using unethical and maybe personal issues to recrut possible buyers to them and give them the run around, only to turn them down. In December of 2011 we were told we could get a home through this bank, that we qualified for a mortgage of 130000 and to go find a home. We got with a realtor and the mortgage person from Regions sent her a letter stating what we were qualified for and given the go ahead. Finally on March 1 we had an accepted contract and on the 5th the banker got her first copy through fax. On the 6th our realtor sent her another copy through email. Then on the 13 the banker requested copies of parts of the contract again and said she could not find her copies! We got copies of documents from her this same time to process to underwriting. On the 20th we finally got a HUD! and then on the 23rd she informed us the package just went to underwriting and we would need a closing date extention. On the 26 of March, she told us that we had not even been approved for the loan yet and should not have done the contract!!! Now its the 30th and shes telling us we are not approved and cannot be approved till JUNE 2012!! There advertisment is they can have you qualified in 30 minutes!! Now we have the sellers upset with us and their realtor, our landlord and everyone else involved and this mtg person wont even call our realtor to tell her what else can be done or that we didnt qualify! The way I see it, if Regions cannot handle a mortgage issue how can they handle bank accounts? This Regions needs serious investigation. My own mother applied as well and was told she qualified for a loan and when she went in with a smaller amount was told she didnt even qualify for that and that social security is not considered reliable monthly income! Never again!
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