Integrity Mortgage About June 15 2003 I went online and applied for a loan through Integrity Mortgage. On June 23 2003 a loan officer called me to discuss the application. I provided him with all the information he needed W-2 paycheck stubs checking account statements debts 401K everything. On Wednesday June 25 2003 we meet in Indianapolis to discuss the application. The meeting was less then ten minutes. I was informed that he had reviewed the loan with an underwriter and saw no reason why the loan would not be approved. I asked him what was next and he said to find a house and send him a purchase contract. I asked him the range and he told me the payment would be approved up to $4000 a month. I remember joking that I wouldn’t tell my wife that because she would find a house for that much. Additional the loan was for a 100% finance. Our funds were limited and Integrity saw no issue with this including adding the closing costs into the loan. The only problem was the interest rate. We only qualified at a 9.14% rate for two reasons. The first was the amount of the down payment and the second was several late payments on my credit report. I had given Integrity Mortgage authorization to obtain my report. The late payments were due to a period of unemployment when the company I was working for closed as was not for my mortgage but a car lease. I have had four separate mortgages and have never been late with payment not once. These four mortgages have spanned twelve years. But wanting another house and to have my family settled I agreed to the high interest. The first house we found was listed at $423000. Doing some quick calculations in my head seam to fit the $4000 monthly figure. I signed the contract and faxed to the loan officer. The next day he called and told me that they had a limit on the loan of $400000. On July 2 2003 we found a house under construction for a price of $346000 I signed a contract. Since the private builder was carrying the construction loan he wanted a $10000 nonrefundable deposit and a letter from the Mortgage Company. I called the loan officer and inquired about a construction loan. Due to 100% financing he said no and reassured me that he saw no issues with the loan being approved. He forwarded an opinion letter to the builder and I wrote a check for $5000. On July 9 2003 I meet the loan officer and signed the official application forms and again was reassured that the underwriters had reviewed the loan and there would be no problems securing the mortgage. Monday August 4 2003 the loan officer called me to tell me that he had made an error in a calculation and that we would not be able to obtain the loan. He had miscalculated the debt to loan ratio and he was sorry. My wife is being treated for high blood pressure and stress management. She is having a nervous breakdown over this and has been threatening suicide. My daughter has been registered in her new school based on the new house address. I have signed a notice to vacate the apartment we are living in and have found out that the complex has already rented it out when we leave. I have now no home a wife who is on the edge a ten-year-old daughter crying all night long and myself unable to perform my normal duties at work because of this. This is wrong and I have should have some recourse. What should I do?

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