Date Received: 2018-05-11
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: XX/XX/XXXX. XX/XX/XXXX Hurricane XXXX hit our location. We notified our mortgage company that we were in the affected area and that we had some damage. We advised that the damage was not enough to utilize insurance but needed to make some repairs. The mortgage company said they would give a 90 day forbearance. Payments would resume in XX/XX/XXXX. Also, loan qualified and we meet the approval for VA cap & extend. At that time they would simply move those payments to the end of loan, rate would stay the same and we would move forward with regular payments. Advised to hang in there because there are a lot of members effected and the process could take a while. After receiving multiple requests to complete loss mitigation paperwork I was to ignore the automatic loss mitigation paperwork because it does not apply to our type of loan. At the end of the 90 days, the process still was not complete. I called the mortgage company and was told forbearance was extended for 6 months per FEMA for everyone effected and not worry. They are working to complete the process and advised that nothing would be reported to the credit bureau during this process. Continued to receive demand letters and loss mitigation paperwork but was told again to continue to hang on. The mortgage company is overwhelmed with applications and unfortunately underwriting is still working on all applications. Still will not have credit reporting during this process. Follow up weekly or bi-weekly and make payments if able. Again advised that we were approved for VA cap & extend but simply need to wait for underwriting to get to loan to complete the paperwork/process. At end of XX/XX/XXXX we received notification from our credit that there was negative reporting from the mortgage company. We were reported 150+ past due. Immediately call the mortgage company and spoke with XXXX on XX/XX/XXXX and told that their system reported it in error on multiple accounts. The company was working to reverse all the accounts and it would be correct by XX/XX/XXXX. In the meantime we received a letter dated XX/XX/XXXX with a modification offer effective XX/XX/XXXX with a response requested by XX/XX/XXXX by us. In this offer it states that our rate would increase to 5 % ( current rate is 3.475 % ) with a payment of {$2800.00}. Our current payment is {$2200.00}. I immediately called on May 2 and spoke with XXXX and was told that the VA denied the cap & extend and that this was the offer they sent back. I was advised to call them to discuss with them directly. I asked XXXX about a payment option instead. He advised that there was a 6 month or 1 year option. I told him we may want the 1 year option. He put in request to have that option calculated with a due date of XX/XX/XXXX. He also advised that the credit reporting had not been corrected but it should be completed by XX/XX/XXXX for the new reporting on XX/XX/XXXX. I said I would call back then for that calculation. In the meantime, I called the VA and spoke with my rep. XXXX XXXX at XXXX XXXX email : XXXX and he advised that the above information is incorrect. The mortgage company NEVER sent over a request for VA cap & extend. They sent over the request to increase our rate to 5 % and the VA approved. He continued that that rate is not even the current listed rate. The current VA rate is 4.5 % and he is not sure why the mortgage did that. XXXX XXXX advised that cap & extend is up to the mortgage company and not the VA. The VA would simple approved what they are requesting. He advised I contact the mortgage company and give that same information to see what they say. I called back to the mortgage company on XX/XX/XXXX to verify credit had been corrected and was told they would NOT be correcting per the notes. I advised that per their letter dated XX/XX/XXXX stated they would not be reporting. That we had until XX/XX/XXXX to accept modification offer with a new payment of XX/XX/XXXX. Per XXXX FEMA lifted forbearance XX/XX/XXXX. I explained that we were never notified of this. And XXXX acknowledged that no one was notified unfortunately. At this time XXXX put in an expedited request to possibly correct credit again. I advised at this time that we do not want the modification but would like they payment plan. I advised that we would be payment {$6800.00} ( past due ) + XX/XX/XXXX payment of {$2200.00} as of XX/XX/XXXX. I advised that we would like the remainder past due amount {$4800.00} to be put on a payment plan over 12 months beginning XX/XX/XXXX. At this time XXXX advised that they can not due 1 year plan and can only do a 6 month plan. She advised that if we wanted 12 month plan we would have to start the entire modification over including completing paperwork. I advised her that XXXX told me on XX/XX/XXXX that this was a option and she said he was wrong for telling me this. I said I would call back next week. NOTE : If we would have been told after the initial 90 day forbearance or even in the beginning that the VA cap & extend was not an option, we would not have allowed this process to move forward and thus allowing the account to get to this point. We feel this was misrepresentation on behalf of the mortgage company to force not only us but other members into a rate increase and modification to the advantage of the mortgage company only and not the member. This process was suppose to help the hardest hit areas!!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 329XX
Submitted Via: Web
Date Sent: 2018-05-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-05-11
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: In 2015 we signed up to have our mortgage payments made through XXXX XXXX XXXX. After several months we received a letter from them stating that they could no longer do business because they were having a problem getting a bank to work with them. We then contacted our mortgage holder, Freedom Mortgage ( Account # XXXX, XXXX XXXX XXXX, XXXX, TX XXXX ) and asked if they could take the payments out every two weeks. They said they could. They took the payments for a few months and then we noticed that we were being charged a late payment charge each month. We called to determine why this was occurring. The rep told us that it was because the second payment was arriving after the XXXX of the month. Well, we souke with a supervisor because their rep set up the payment schedule and should have noticed that would occur. Secondly, with a payment plan twice a month you shouldn't be stating that our payment was late. The rep we spoke with when we called stated that he would change the draw dates for the payments. He did not do that. He cancelled the one schedule of payments and never set up another. We were traveling and so never noticed that the payments did not come out. Since we were camping, in most locations we didn't even have access to wifi. When we finally returned home we got our mail and had several letters saying we were in default on the mortgage! When we called the second representative told us they would have to investigate and not to make the payment until they figured it all out. Once they fixed the problems they removed all late charges and said they corrected our credit report. They did not. They had been reporting us 30,60 or 90 days past due. What they did was then report the account as current, but never did remove the reports of being 30,60 or 90 past due. At one point we were actually two weeks ahead in our payments. Have written several letters but get a form letter in return saying they can not correct the information because it is accurate but the issue was caused by their representatives. Even though the information is technically accurate, if someone actually took the time to read through the notes in our account they could see tthe whole picture. We are not getting any assistance by trying to deal with the mortgage company and the credit reporting agencies keep reporting a " serious delinquency '' which we assume is the mortgage issue, however, when contacting the credit reporting bureaus, nobody will explain to us what the " serious delinquency '' is on our reports. They all simply send us ANOTHER copy of our credit report. We have about 20 copies of our reports and we can't see ANY serious delinquency except the 30,60, or 90 days past due being reported by the mortgage company. I am a XXXX veteran, retired from the XXXX, My wife is also a veteran of the XXXX. We shouldn't have to be spending our time, hours on end, trying to fix this issue ) When a company services VA loans they should be respectful of the customers they are serving.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30019
Submitted Via: Web
Date Sent: 2018-05-11
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-05-10
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: On XX/XX/XXXX our mortgage broker at XXXX XXXX negotiated a 30-day rate lock with Freedom Mortgage at 4.375 % with the cost of 1.092 % ( points ) to obtain the rate. We have written verification between us and the broker. The broker has phone records between XXXX and Freedom Mortgage as they verbally went through the process with Freedom Mortgage. On XX/XX/XXXX we received an email from Freedom Mortgage with secured documents to sign and verify. When we observed the paperwork our cost to close increased by over {$16000.00}. Freedom Mortgage listed in their disclosure that a cost of 3.776 % ( points ) would be needed to obtain the 4.375 % rate. On XX/XX/XXXX when our broker contacted Freedom Mortgage they claimed it was a " computer error '' that displayed the 1.092 % rate. There was no contact with the broker on this " error '' between XX/XX/XXXX and XX/XX/XXXX. There was no documentation sent to the broker after a verbal walk-through of the numbers upon locking the rate. We were sent documentation by Freedom Mortgage to sign, lock, and prepare to close without the primary negotiator, our broker, being notified. We find this highly problematic that Freedom Mortgage ( 1 ) did not notify the broker responsible for the transaction of this " error '' ( 2 ) did not disclose any error to us ( the loan recipient ) and ( 3 ) blame it on a computer error though Freedom Mortgage verbally confirmed the entire process with our broker AND avoided any contact with the broker afterwords. This contact is considered, by me, to be phone or email. Freedom Mortgage was contacted on XX/XX/XXXX and will not return to the agreed upon terms of the week prior. We are now paying 1.3 % ( points ) to move our rate down to 4.6xx %. This is and increase in closing costs, an increase in monthly payments, AND an increase in overall payments to Freedom Mortgage. We have a contractual closing date to meet and this tactic is basically forcing us into worse terms and greater benefit for them. Overall, I am concerned with the " bait and switch '' tactic employed by Freedom Mortgage when they provided terms, verified terms, changed terms, and did not disclose the change until a document had to be verified a week later. Personally, I do not believe it is a " bait and switch '' but rather Freedom Mortgage reneging on an agreed upon rate. If I were to do that with my mortgage they would seize my property. I am also concerned with how many others may have been affected by this " computer error '' ( if there even was one ). On any given day I could only assume hundreds, if not thousands, of people come to terms with Freedom Mortgage. If they employed the same tactic with others, were the customers aware of the change when they signed the papers? Did they feel pressured to sign because a mortgage, even at a higher rate, is better than no mortgage?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 10567
Submitted Via: Web
Date Sent: 2018-05-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-05-10
Issue: Trouble during payment process
Subissue:
Consumer Complaint: The home was refinanced by Freedom Mortgage in XX/XX/XXXX for a lower interest rate, which lowered the total monthly payment. All of XXXX the monthly payment stayed the same. In XXXX XXXX Freedom Mortgage sent a letter stating the escrow had a {$2900.00} shortage. A payment of {$2900.00} was needed or a new monthly payment of {$1600.00} would be required. I noticed the property taxes had increased drastically through the 3 years of living at the property. I had filled for a homestead exemption which was retroactive for XXXX and XXXX property tax 's paid. The refund amount for XXXX was {$380.00} and XXXX was {$510.00}. I had sent Freedom Mortgage the information about my homestead exemption on XX/XX/XXXX. Freedom Mortgage was also notified on the same date of the overage that was paid for the 2 prior years. They told me a ticket was made to refund me my overages and a reanalysis of my escrow account. Freedom Mortgage notified me I would receive my refund in 3-4 weeks and reanalysis was being processed. I would call back at least 1-2 times in a week to inquire about my new mortgage payment due to the reanalysis. Every time I called I was told to call back in a few days due to the reanalysis was incomplete. Freedom Mortgage operators stated to wait for reanalysis due to the increased payment that had gone into effect. The payment could be made in a few days once the reanalysis was completed. During this time I was receiving late remarks on my credit report, letters of delinquency, and letters on my front door of delinquencies. I made a payment XX/XX/XXXX due to all of the negative information. On XX/XX/XXXX Freedom Mortgage notified me that the 2 tax refunds were not being sent back to me. This was the first I had about not getting the tax overages I had already paid the 2 prior years. On XX/XX/XXXX Freedom Mortgage had placed a ticket for a mortgage reanalysis. I was furious because I had been asking for this to be done since the last week of XX/XX/XXXX. Freedom Mortgage once again asked me to call back on XX/XX/XXXX for the reanalysis to be completed. I called back today ( XX/XX/XXXX ) with Freedom Mortgage having no answers. I asked to speak with a supervisor and was told I should expect a call within 48 hours. I received a letter ( XX/XX/XXXX ) stating Freedom Mortgage needed an additional 15 business days to complete reanalysis. My request was sent on XX/XX/XXXX with proper documentation for reanalysis. It has now been 31 business days since first request and know won't be completed until XX/XX/XXXX ( total 42 business days for reanalysis ). On XX/XX/XXXX Freedom Mortgage operator notified me that she was not responsible for what the other operators had stated to me during the last 31 business days prior. In total I have received 3 different statements ( all 3 are different ) about my escrow. Its hard to understand how on XX/XX/XXXX the ticket was submitted for the escrow reanalysis. There seems to be no business integrity with Freedom Mortgage and their clients. Freedom Mortgage has been in this business for years and this issue shouldn't happen with me or anyone else. I should not have to literally pay the price due to a company with the years and knowledge of Freedom Mortgage.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 75126
Submitted Via: Web
Date Sent: 2018-05-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-05-10
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: MyXX/XX/XXXX bank statement shows payment withdrawn XX/XX/XXXX and have delivery confirmation that payment was delivered onXX/XX/XXXX. While I understand that a late fee is assessed ( included amount in payment ) the final monthly payment was made within same month and I should not have been reported as late to credit bureaus. I provided information to company but they have refused my documentation.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 93725
Submitted Via: Web
Date Sent: 2018-05-10
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-05-09
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: Regarding : XXXX XXXX and XXXX XXXX 's Freedom Mortgage Home Loan Acct # XXXX Today, I am writing on another matter. I am in the process of obtaining a security clearance with my job and they pulled my credit report. Your company is listed, as items ( late payment ) that are preventing me from obtaining my clearance. I know we just resolved this account in XX/XX/2017, and it has already been updated to Paid in Full, however, I am asking if the account can be completely removed off my credit report for XXXX XXXX and XXXX XXXX 's Freedom Mortgage Home Loan Acct # XXXX. Obviously, I need my job, especially since I am just starting to bounce back on my feet after my health issues that prompted our financial relationship in the first place. I would be absolutely elated if this would be possible. Sincerely, XXXX XXXX and XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: LA
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-05-09
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-05-07
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Freedom Mortgage made a mistake servicing my loan, the problems were resolved, Freedom mortgage admitted that they made an error servicing my loan but in the process they negatively marked my credit history. Calling them, sending them the requested documents has not resolved the issue of the credit damage. They have refused to remove the mark on my perfect credit history.This effects my clearance for my government contracts, and also my financial future
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 91932
Submitted Via: Web
Date Sent: 2018-05-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-05-04
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: freedom mortgage lower the vaule of house on paper XXXX. so they could charge me XXXX for mortgage insurance. l went from a arm to a fix same company same home. call company said it was because of a va loan fee. not true have XXXX XXXX XXXX XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OR
Zip: 97080
Submitted Via: Web
Date Sent: 2018-05-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-05-04
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XX/XX/XXXX My auto payment for XXXX was deducted from my checking account and paid to my mortgage lender Freedom Mortgage.XX/XX/XXXX I received a call in the evening stating they had not received my payment and were calling to collect. I checked my account it had been debited and upon further discussion learned that my payment had increased to XXXX due to an escrow shortage and a letter had been sent to notify us. We had been on vacation when the letter was sent and missed it because they send a ton of mail. So while they had received my payment, it was in a holding account because it was not the full amount and had not been credited. I immediately gave them my card number to debit the additional XXXX and was informed there was also a late fee of XXXX. It was late, so I paid it but the customer service associate said he would submit a request to have it waived. After getting off the phone, I was questioning whether or not fair lending laws allow a late fee of that amount because I work at a bank and my memory was that lending companies can't charge more than the amount that is late in fees. I looked up state law as well, Idaho Statute Section 28-42-301 ( 2 ) XXXX XXXX XXXX XXXX ; With respect to a regulated consumer loan secured by a security interest in real property which is used or expected to be used as the residence of the debtor which is not a precomputed regulated consumer loan, the parties may contract for a delinquency charge on any installment not paid in full within fifteen ( 15 ) days after its scheduled due date in an amount not exceeding five percent ( 5 % ) of the unpaid amount of the installment, or XXXX dollars ( {$15.00} ), whichever is greater. The request was denied so I called customer service to discuss. I was told it was denied and there was nothing that could be done so I asked to speak to a supervisor. I was then told I wasn't allowed to speak to a supervisor per their new policy that the representative that answers the call has to resolve the issue and because it was resolved there was nothing more she can do. I asked to speak to a supervisor several more times and was denied and offered an email address to lodge my complaint. She finally transferred me to another department and I explained the situation and the law to two additional people. One of whom explained to me that the late fee amount is 4 % of the amount of the monthly payment and when you don't pay the full amount of your monthly payment none of it is credited to the account - the mortgage co holds it, and that is why they charge the late fee on the total amount of your monthly payment not just what is late. I explained that is where they are violating lending laws as I understand them and shared the ID statute that it should only be on the unpaid amount. She finally agreed to try to remove the charge but told me she didn't know how because once a charge is made there isn't a way to credit an account back but she would take care of it. Her name was XXXX XXXX. I told her I was perfectly fine with being charged a {$15.00} late fee because the amount was late but 111 % was not acceptable. When doing my taxes recently I noticed the fee had not been credited back. I am tired of fighting with the company. This was the second time I have called them out on lending practices, the previous was during our refinance the prior XXXX which they admitted and reconciled but I am concerned for people who don't know and are being taken advantage of.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: ID
Zip: 837XX
Submitted Via: Web
Date Sent: 2018-05-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-05-04
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: This is the letter I faxed to Freedom Mortgage on XX/XX/XXXX. The letter details the unlawful and false credit reporting practice of my current mortgage company, Freedom Mortgage. XX/XX/XXXX Attention Freedom Mortgage : You have incorrectly reported a 30-day late payment of my mortgage to the credit bureaus back in XX/XX/XXXX. I called back in XX/XX/XXXX, spoke to a customer service representative, and she told me that I was up to date on my mortgage. I wrote a letter back in XX/XX/XXXX ( attached ) and received a reply ( attached ) that is still incorrect and against the law. Your false reporting is not only damaging to my credit score, but makes it difficult for me to refinance this mortgage. Your incorrect reporting practices are harmful, false, and against the law. The damages are extensive because of the incorrect information you provided to the credit bureaus ; my credit score has suffered unlawfully since last XX/XX/XXXX. Your mistake has cost me time and money. This includes an interest rate on a loan that was higher than it should have been as I have been required to pay a higher interest rate for this loan. I have attached the following documents ( which I reviewed with the customer service representative last XX/XX/XXXX when I called ) that prove you have made a huge mistake. Obviously, you need to make amends ASAP. Documents included : 1. Document # 1 : Letter I sent to you XX/XX/XXXX demanding you fix the credit reporting mistake you made. 2. Document # 2 : Letter from XX/XX/XXXX detailing your ( unlawful and incorrect ) response to my letter dated XX/XX/XXXX. 3. Document # 3 : Letter dated XX/XX/XXXX that states XXXX XXXX XXXX will begin accepting your payments on XX/XX/XXXX. THIS LETTER IS DATED XX/XX/XXXX! This letter also states, Under Federal law, during the 60-day period following the effective date of transfer ( which is clearly stated as XX/XX/XXXX ), a loan payment received after the due date MAY NOT BE TREATED BY THE NEW SERVICER AS LATE. 60 days after XX/XX/XXXX was XX/XX/XXXX. 4. Document # 4 : Letter dated XX/XX/XXXX that states a totally different transfer date of XX/XX/XXXX. This letter is dated XX/XX/XXXX! 5. Document # 5 : Letter from XXXX XXXX stating the mortgage will be transferred effective XX/XX/XXXX stating, Freedom Mortgage will collect your payments going forward. Your new servicer will start accepting payments received from you on XX/XX/XXXX. 6. Document # 6 : Payment conformation that I submitted my payment to XXXX XXXX on XX/XX/XXXX. 7. Document # 7 : Letter stating you received a payment of {$6600.00} ( payment for the XX/XX/XXXX and XX/XX/XXXX mortgages ) on XX/XX/XXXX. ( The 60-day grace period under federal law would have expired XX/XX/XXXX. ) The complete payment was received XX/XX/XXXX. Not only has your mistake cost me time and money, you continue to fight the factual evidence that proves you wrong. Please make amends now. I have spent over 10 hours collecting data and responding to your errors. My salary is $ XXXX/hour. You, therefore, owe me {$500.00} for the time and energy I spent refuting your false and illegal claims. Reporting negative information to the credit reporting bureaus seriously impacts consumers in an extremely negative way. You must make sure that this information is reported correctly. In addition, you must not push back on consumers who are following the law and paying what they need to pay when they are required to pay it. I am shocked that your company is still in business. Are you harming the spending power of Veterans and the population of US citizens who need to take out FHA loans? In other words, by making false claims, are you harming the most vulnerable citizens in our country? I can only assume that you owe thousands of dollars to thousands of citizens for your false and harmful reporting of credit information, thus harming their ability to borrow money and lead productive lives. Shame on you. You must correct this mistake as soon as possible and make amends for your unlawful actions.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 60647
Submitted Via: Web
Date Sent: 2018-05-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A