Is there a governing body that protects home buyers when working with mortgage lenders?

Good Afternoon, yes there is a governing body that looks out for the public. it is called the CFPB and they can be found easily on-line.

Yes.. the CFPB is the governing agency that oversee's the mortgage and lending industry.. But understand that lot's can happen when it comes to delay's in getting financing.. Appraisals are definitely one of them.. just because an appraisal is ordered and comes in, doesn't mean that it's acceptable with the underwriter.. it has to be underwritten just like your taxes, w2's, pay stubs, bank statements,, etc.. all had to be underwritten.. As far as maternity leave is concerned.. in order to use your wife's income, she must be back to work and have received at least one pay stub in order for her income to be considered.. this is a standard underwriting guidelines, not something that YOUR lender made up.. It sounds to me that there's a lack of communication rather then them doing something wrong.. try reaching out to your loan officer.. of if you cannot get an acceptable explanation, ask for his manager.. If you think something has been done illegally, then you can contact the CFPB, but they are not going to jump right in and call your lender as a liaison,,, they are there if you have been or you think you are currently being defrauded by the lender, or if the lender is breaking rules.. they are not there to light a fire under your lender to get your approval and loan doc's out quicker.. For that, I would definitely recommend you contact your lender first.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Hi William,HUD has successfully sued several major lenders (like Wells Fargo) for discrimination due to maternity leave issues. Take a look at the the following HUD page:https://portal.hud.gov/hudportal/HUD?src=/press/press_releases_media_advisories/2011/HUDNo.11-108Please feel free to contact me for more information or help. John Burke - Senior Mortgage Banker - Lending in ALL 50 states - Great Plains National Bank - 877.228.9069 - NMLS# 787231