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Should I Appeal? NFCU Mortgage Denial

Established Contributor

Re: Should I Appeal? NFCU Mortgage Denial

After a lot of work with our mortgage broker this summer, we were preapproved by Union Bank for a mortgage refinance. We've been in our home for 15 years and this would have been our first refinance.


Unfortunately, despite having locked the interest rate early on, Union Bank ultimately backed out of the deal and denied our refinance. My broker got the distinct impression the lender knew interest rates were likely to continue to rise, and no longer wanted to refinance our mortgage at the terms we'd agreed. All that work for nothing...


I'll never do business with Union Bank again. Mortgage applicants beware in a rising interest rate market...

Message 11 of 12

Re: Underwriting on New build

HI Shane,


I appealed with NFCU on Oct 13th and everytime i call the response is ..Its under review. How long should i wait before i just move forward with another lender. Well i already but in terms of contining to inquire. Again my husband two year mark is literally now. The home wont be ready until next year.

@ShanetheMortgageMan wrote:

Did everything pan out OK?

Im really tired of hearing its in review. Why would it take so long.. Simple yes or no response.

Message 12 of 12
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