Sfcu.org

Below is the letter I sent to the SFCU supervisory team about their atrocious service:
Dear Sir or Madam-
The Stanford Federal Credit Union is engaging in some very discriminatory lending practices. Over the last 2 years, I would bet $1,000 they have granted hundreds of mortgage loans or refinancing loans on property held in the trusts of deceased persons. Yet today I was denied a loan because the property I am trying to refinance is in the trust of my late husband. The reason given was the property is being held in an irrevocable trust. HOWEVER PER AN ESTATE ATTORNEY I CONTACTED LAST WEEK, THE MINUTE SOMEONE DIES THE TRUST BECOMES IRREVOCABLE. So why were loans made and refinancing granted on many properties held in the trusts of deceased persons but my loan was denied? All of the properties were in irrevocable trusts because the person had died. I firmly believe the real reason is my age, 68, my gender, female and the fact I am disabled. Also my late husband's heirs who will receive the property when I die are Native Americans. Again, I bet $1,000 the trustees on the other properties granted loans and refinancing were largely white males under 50 and not disabled. (Stanford Sleep Center diagnosed me as having severe sleep apnea in 2/7/22 making me legally classified as disabled.) The person rejecting my loan is Angel Evangelista. My impression is she was totally ignorant regarding the fact all trusts become irrevocable the minute someone dies and decided to severely punish me for bringing up this legal fact. Why is someone so ignorant of trust law overseeing the loan department?
I am demanding an immediate audit of the mortgage department which will show their discriminatory practices in regards to properties held in the trusts of deceased individuals. Literally, favors are played for some borrowers and other people illegally shunned.
To add insult to injury, before I even applied for the loan, I told the loan officer, JP, the property was held in the trust of my late husband and I wanted the loan to close in his trust with me listed as trustee. I asked him if Stanford handled this type of trust. He said yes, no problem and said Stanford handles lots of trust loans.
When the underwriter, Francis M started processing the loan, I stated to her in over 12 emails that the property to be refinanced was in my late husband's trust and I wanted the loan to close in his trust with me as the trustee. She accepted this input and proceeded to process and approve the loan.
Then in the very final hour before sending me the final loan sign off, Francis Manalili noted that I accurately reported on the trust information form that the trust was irrevocable as are ALL TRUSTS OF DECEASED PERSONS. Then Angel Evangelista illegally rejected the loan.
Let me just note I need to refinance $146,000 on a property worth $730,000 in a great Folsom, Ca. Neighborhood and always rented at a great rate. (Folsom has the highest per capita household income of any suburb in Sacramento County.) Both rents and property values are rising rapidly in Folsom and I just raised the rent. Also, I have a lot of liquid assets in my I. R. A., brokerage and annuity accounts, have an excellent income from social security and monthly I. R. A. Distributions and an excellent credit rating. SO DENYING ME THE LOAN IS NOT ONLY DISCRIMINATION BUT VERY, VERY BAD BUSINESS TURNING AWAY A GREAT LOAN.
I am a Certified Public Accountant, Alumni of Deloitte Touche one of the 4 largest public accounting firms in the U.S., a retired controller and internal auditor and active on Linked In and a Venture Capital group. My treatment not only breaks the law, it is turning away a great, profitable loan and is NOT winning friends or influencing people.
I am demanding my loan be granted and an audit of Stanford's mortgage department's loan practices be performed with emphasis on processing trust loans and compliance with discrimination laws.