Date Received: 2021-05-23
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: My mortgage company Freedom Mortgage won't allow me an extension past 12 months to defer my VA mortgage from the pandemic era CARES act extension of 18 months.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 75070
Submitted Via: Web
Date Sent: 2021-05-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-21
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Mortgage company : Freedom Mortgage Loan No. : XXXX I was approved for a forbearance plan due to the Covid pandemic ( CARES ACT ) by my previous mortgage service provider, XXXX XXXX Start date of Forbearance : XX/XX/XXXX. End date of Forbearance : XX/XX/XXXX ( total duration - 12 months ) My mortgage account was transferred to a company called Freedom Mortgage, effective XX/XX/XXXX. On XX/XX/XXXX, I contacted Freedom Mortgage and informed them that I was ready to exit the forbearance plan and start making regular mortgage payments from XX/XX/XXXX. In a decision letter dated XX/XX/XXXX, Freedom Mortgage informed my in writing that I was eligible for a " Covid-19 Combination Partial Claim and Loan Modification '' option. I signed the letter and sent back to Freedom Mortgage for processing. As for today ( XX/XX/XXXX ), Freedom Mortgage has not processed the documents necessary to exit the forbearance plan. I have made numerous phone calls to Freedom Mortgage customer Service and each time I was told that the documents are in processing. I was informed in one of the phone calls that the target date for my regular first payment would be XX/XX/XXXX. I called Freedom Mortgage customer service again this morning enquiring about the processing of the documents and I have been give the same answer - documents in processing, no time line as to when they will be completed. I have been quite anxious dealing with Freedom Mortgage, as my personal experience is that there is very little coordination between different departments of the company. It puts in high risk as one department, oblivious of what is happening, may start a foreclosure action against me, while the customer service department is reassuring me that everything is fine and that I do not need to worry. I believe I face great risk due to the inaction by Freedom Mortgage in processing the forbearance exit documents.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 91311
Submitted Via: Web
Date Sent: 2021-05-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-21
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I refinanced my mortgage loan from Freedom Mortgage to XXXX XXXX XXXX on XX/XX/XXXX. Freedom Mortgage automatically deducted another payment in error on XX/XX/XXXX as they were already paid off. I contacted them by phone on XXXX when I say the deduction in my bank account and they said they would put in for a reversal to get the deduction reversed. They never called me to tell me there was any problem. On XX/XX/XXXX I call them again to ask why I didn't have my money refunded yet. They kept me on the phone for a long wait and are going to wait to mail out a check until XX/XX/XXXX. They are not reversing the payment they took in error. The amount they took in error is {$1900.00} on XX/XX/XXXX and by the time they get the check to me so I can deposit it they will have had the cash for at least 3 weeks. That is a very long time to keep money from an individual who has bills to pay and has to live. They have horrible policies and terrible customer service and will not go out of their way to fix a problem they have. Big banks should not be able to do this to individuals who need the money. My mortgage loan number is XXXX. Again I contacted them the same day and they did not attempt to contact me in 2 weeks time.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AZ
Zip: 85086
Submitted Via: Web
Date Sent: 2021-05-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-21
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I RECENTLY REFINANCED MY HOME LOAN THAT I ONCE HAD WITH XXXX XXXX. AS WE WERE CLOSING, XXXX XXXX FOR WHATEVER REASON SOLD MY MORTGAGE TO " FREEDOM MORTGAGE ''. MY PAYOFF CHECK GOT TO XXXX XXXX AND XXXX XXXX ACCEPTED THE PAYMENT AND CLOSED OUT THE ACCOUNT. ALL THIS HAPPENING WHILE FREEDOM MORTGAGE IS NOW TRYING TO COLLECT A MONTHLY PAYMENT FROM ME. THIS IS A COMPLETE ERROR BETWEEN XXXX XXXX AND FREEDOM MORTGAGE. I HAVE ATTACHED A COPY OF THE " CLOSING DISCLOSURE '' SHOWING PROOF THAT MY REFINANCE WENT THROUGH SUCCESSFULLY. FREEDOM MORTGAGE NEEDS TO BE DELETED FROM MY CREDIT ASAP! THIS IS A COMPLETE VIOLATION.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WA
Zip: 98445
Submitted Via: Web
Date Sent: 2021-05-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-21
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Servicer, Freedom Mortgage Corporation, approached Borrower and refinanced FHA loan with intent to entrap Borrower into loan with permanent mortgage insurance premium. Property, at time of refinance in 2016, had a value that would have allowed for conventional refinance without mortgage insurance as result of loan to value ( LTV ) being below the threshold for loans that require mortgage insurance. Freedom Mortgage did not properly perform an appraisal on property during refinance because it was in their interest to lock and maintain loans with mortgage insurance.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 90044
Submitted Via: Web
Date Sent: 2021-05-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-20
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Below is a copy of email sent to XXXX XXXX, CEO of Freedom Mortgage : Loan XXXX XXXX XXXX XXXX Fri, XXXX XXXX, XXXX ( 6 days ago ) to XXXX Good evening, Mr . XXXX, I am writing to you in the hope that perhaps you can help me rectify the terrible experience that I have had as a result of an error that was made in completing my mortgage streamline. As I wait on hold with your organization for more than one hour without any contact with a human being, I find it ironic that the hold message boasts of the stellar customer service and personal attention that I have yet to receive. I have had my mortgage with your organization for a few years now. I was contacted in XXXX by XXXX XXXX offering me a streamline rate reduction. I found her rather aggressive. My husband and I have been wanting to refinance later this year with a conventional loan and I was apprehensive to do a streamline as I was concerned that it might hinder or delay my ability to do so. XXXX assured me that while a conventional loan was a different product, it would not hinder my ability to refinance down the road. After careful consideration my husband and I agreed to the streamline. We completed the necessary applications and were contacted soon after that we would close later in XXXX. We were advised at that time that we should skip our XXXX payment in anticipation to close on XX/XX/XXXX. We were also told at that time that we would skip the XXXX payment as well and our next payment would be due XX/XX/XXXX. While I was skeptical, I confirmed with the loan officer that this was in fact the case in addition to speaking with another one of your representatives. They stated that had I made a payment in XXXX that it would change the structure of the loan amount and would also require me to bring cash to closing which we also did not want to do. We were pleased with the terms of this streamline and closed as planned on XX/XX/XXXX. It was a quick and easy process. As promised. I received my XXXX billing statement with the upcoming payment due to be paid on XXXX as expected. You can imagine my astonishment this morning when I received a notification from my credit monitoring service stating we had been reported delinquent for our XXXX payment. I am a XXXX XXXX who works full time and have done so throughout the pandemic. I have an impeccable payment history- even last year when my husband was laid off during the pandemic. I take my credit history very seriously and am very concerned that this negative mark has caused my score to plummet more than 70+ points. As you know, this can be the difference in a lot of money when measuring someone's creditworthiness. I immediately contacted your customer service department. The representative opened a ticket but it took over an hour for me after being on hold etc. Even then she could not guarantee me that my credit report would be corrected in an expedient manner. So I called back on my lunch break. I spent another hour plus on the phone. She was able to get someone by the name of XXXX XXXX on the phone who verbalized exactly what I had said all along that the XXXX and XXXX payments should not have been made. She could see that I closed on XX/XX/XXXX but for whatever reason Freedom Mortgage did not release the funds on my account until XX/XX/XXXX. She then stated that her area is unable to update the credit bureau XXXXnformation and transferred me to XXXX in service id XXXX. Iwas on the phone for more than two hours at this point. Still no resolution. She assured me that she would escalate my inquiry to a manager who would call me back by the end of the business day. That never happened. so now I am reaching out to you. Clearly, this error was made and was no fault of mine. I am requesting that my credit report be updated immediately to delete the derogatory information and written confirmation of such an update is sent to me via email and post mail. Again, my credit is very important to me and had I known that the stream line was going to be such a headache I never would have done it. I am aware that mistakes are made. The complete lack of accountability, sloppiness and failure to follow through with any sort of ownership that has taken place in this situation is infuriating and very disappointing. This is deceptive practice. I work very hard. In my line of work mistakes can be detrimental. I take pride in my work and take ownership for my actions. Please make this right, honor the terms of our loan agreement, and follow what your company said they would do and correct my credit report. I appreciate your time and attention in rectifying this matter. It should be noted that I have now been on hold for XXXX with no contact. Please right the wrong. Sincerly, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, DE XXXX ***I was contacted on XX/XX/XXXX by XXXX XXXX XXXX XXXX the Freedom Mortgage XXXX Legal department XXXX Stating that the issue has been escalated to senior management. I followed up today ( XX/XX/XXXX ) and was told that the error in reporting was a direct result of en error in funding my loan late ( it should have been completed by XX/XX/XXXX but was delayed until XXXX which I am certain violates several federal banking regulations ). I was also told that while they plan to correct the error in credit reporting that it could take two months for that to happen. This is unacceptable. I know that they are able to submit a manual credit update to the credit reporting agencies so that the correction can be reflected expeditiously. This error is not only tarnishing my credit history but it is also costing me money as I have a major purchase to make for a new vehicle but can not do so until the delinquency that was erroneously reported has been corrected. I have in good faith, attempted to rectify this issue. The unfortunate nature of this matter is that there are likely many other consumers who have been negatively impacted by the sloppy business practices on the part of Freedom Mortgage, which is consistent with deceptive banking practices which is illegal. If this can not be rectified immediately I will have no choice but to pursue legal action and financial compensation against Freedom Mortgage. I thank you in advance for your assistance in getting this matter resolved. Best regards, XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: DE
Zip: 19711
Submitted Via: Web
Date Sent: 2021-05-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We filed an insurance claim to fix our roof XX/XX/2021. Our insurance company spoke with our contractor and sent the check. The check is a three party check made out to me, my husband and the mortgage company. We contacted the mortgage company regarding the process. We endorsed the check and sent it to our mortgage company via Priority mail with tracking. The check took 2 days to arrive to the mortgage company. Included was the contractor 's signed paperwork and the insurance paperwork. I gave them a 2 week turn around time. Today is XX/XX/XXXX, over a month later and we still have not received the funds back from the mortgage company to pay the contractor. The check is in our escrow account. When I call, the customer service is poor, I stay on hold for over 30 minutes. Every rep that I've spoken to says someone will call me back or they will escalate. It has rained and our roof is substaining more damage and the gutters were torn off from the storm so the appearance of the roof is awful as well. The delay is totally unacceptable. Today I was told they had system errors and I would just have to wait. No Freedom Mortgage I will not just watch my property decline and just wait!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TN
Zip: 38305
Submitted Via: Web
Date Sent: 2021-05-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-20
Issue: Other service problem
Subissue:
Consumer Complaint: Freedom Mortgage XXXX # XXXX I received an insurance claim check on XX/XX/XXXX that was made out to both me and the mortgage company. I called Freedom Mortgage to see how to have them endorse it. Check # XXXX for {$4400.00} Check XXXX for {$9000.00} I was told to put the following atheization number on ( XXXX ) it and mail it to Freedome Mortgage XXXX XXXX Attn : Lost Draft Dept XXXX XXXX XXXX XXXX MI XXXX I was told it would take 3-6 business days to process it and it would be mailed back to me. On XX/XX/XXXX I had not received my check so I called and spoke with XXXX. I was told they had the check but it was not processed yet. At this point I had contractors scheduled to start XX/XX/XXXX and needed to pay them. I asked to have the checks overnighted. I was placed on hold, when XXXX came back he was unable to do this. I requested a call back from his supervisor. Was told it would be 24-48 hours for a call back. I had not received a call back, so I called Freedom Mortgage back. Spoke with XXXX this time and was told the check would be processed on XX/XX/XXXX. I asked for it to be overnighted again and to speak with a supervisor. Was told 24-24 for a call back. XX/XX/XXXX No call from a supervisor, Called back and spoke with XXXX. Told the check was not processed and that they had switched processing companies. Asked to speak with a supervisor, was told 24-72 hours for a call back. XX/XX/XXXX No call from supervisor, called back and spoke with XXXX Was told that the check were now " Under Review '' asked to speak with a supervisor. Was told 24-72 hours, but sent me to a voice mail XXXX XXXX? Left a voice mail explaining my frustration and needing a call back to expedite this matter. I really did believe this would be the easy part of process. Unfortunately, I have been given false, changing or useless information from the start. I just want the checks so I can pay the contractors. XXXX XXXX XXXX
Company Response:
State: FL
Zip: 33594
Submitted Via: Web
Date Sent: 2021-05-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-19
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I am refinancing a property in New Mexico with a VA IRRRL. From the beginning, the executive loan officer, XXXX XXXX, NMLS # XXXX, was hard to reach when needed and often required multiple follow ups ( trying to have phone conversation was virtually impossible ). I conveyed to XXXX multiple times in XXXX and XX/XX/XXXX all remaining closing costs that would not be covered by lender credits would be paid by us at closing ( " cash to close '' ). After I pointed out some initial errors with the loan documents, I was contacted to schedule closing in XXXX and we set up a date. XXXX XXXX was assigned as my customer advocate prior to closing and her intro email stated " My name is XXXX XXXX, and Ill be your Customer Advocate and primary point of contact moving forward. Im committed to providing you with excellent service and seeing that your loan gets scheduled to close as quickly as possible. '' However, my experience with the customer advocacy group was the complete opposite. We postponed closing a few times throughout XXXX, XXXX, and XXXX ( including today XX/XX/XXXX, which is why I am finally filing this complaint ) because Freedom Mortgage would keep issuing incorrect closing documents. I think every time they had the closing costs rolling into the loan despite me requesting every time to fix it for the next scheduled closing date. At least once the loan payoff amount was incorrect and nobody could explain where the figure came from ( i.e., did not match the current lender 's payoff quote ). Then today they quoted us a high amount for the cash to close because inexplicably the approved loan amount decreased and underwriting wanted us to make up that difference. Nobody could provide an explanation of how the cash to close figure was generated until after we postponed closing again, but it appears their research determined it was a mistake for the loan approval amount to be decreased. Our customer advocate and their supervisor, XXXX XXXX, have been quiet since early XXXX when we failed to close because Freedom Mortgage cancelled closing due to a property tax payment made by the current lender ( I can understand this is probably standard practice, but placed in the context of one problem after another it was infuriating ). The customer experience with Freedom Mortgage has been terrible, and this company has not been fully transparent and/or competent throughout the process. I can't prove this company has done anything illegal ( purposefully ), but I think some of their actions border unethical behavior, and certainly they've proven to be incompetent. Had I not been diligent on a separate loan ( which this one also had multiple closing date postponements ) they would have taken advantage of a veteran ( purposefully or stupidly, I'm not sure, by dropping out some of the lender credits that were promised ). Finally two employees do deserve recognition for trying to do the right thing. XXXX XXXX and XXXX XXXX, should be commended for trying to be helpful throughout this process ( XXXX has been especially helpful ).
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: 21045
Submitted Via: Web
Date Sent: 2021-05-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-05-19
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: The transaction was a refinance of an existing mortgage with the current mortgage provider. The refi featured a reduction of the interest rate from 3.25 to 2.75 percent. The initial offer was a " no cost '' out of pocket refi. The loan estimate included closing costs in the amount of about {$4000.00}. The estimate was agreed to by me via " docusign ''. The next step was the real offer which increased the closing costs to almost {$11000.00}. The lender wanted me to agree to 11 months of prepaid property taxes. What struck me as fraudulent was that my payoff ( principal ) increased by the same amount as the alleged " prepays ''. In my opinion, the prepaid amount should have been reflected in the escrow account, not the final payoff amount. When confronted, they said it was common practice. I refused to docu-sign these terms. My savings would have been less than {$40.00} a month, while my principle increased by almost {$11000.00}. And that doesn't include the interest owed. I have not changed my lender but I feel a true lack of trust after their bogus offer.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 91915
Submitted Via: Web
Date Sent: 2021-05-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A