OVER CAPATALIZED IN THE AREA

I APP**** FOR A HOME LOAN AND WAS TIL YESTERDAY THAT IT HAS BEEN APPROVED THERE IS JUST ONE UPDATE HE HAS TO MAKE BUT HE WILL PHONE ME BACK BEFORE CLOSE OF BUSINESS, NEEDLESS TO SAY HE DID NOT AND AGAIN I HAD TO PHONE IN. THE ANSWER I RECEIVED THIS AFTERNOON WAS THAT THE LOAN WAS DECLINED DUE TO THE FACT THAT SA HOME LOANS ARE OVER CAPITALIZED IN THE AREA AND WILL NOT BE ABLE TO GO AHEAD WITH THE LOAN, IS THIS EVEN POSSIBLE? I STARTED THIS APPLICATION 22 JAN IT TOOK THEM ALMOST A MONTH TO COME OUT WITH THIS POOR ANSWER. ASHLEY CANNOT PUT ME THROUGH TO A MANAGER HE WILL ASK THEM TO CONTACT ME