Date Received: 2018-02-22
Issue: Incorrect information on your report
Subissue: Information is missing that should be on the report
Consumer Complaint: My Mortgage was sold. I have little personal credit outstanding. The new mortgage company, Freedom Mortgage is not reporting they have my Mortgage. It still reports as XXXX XXXX XXXX XXXX and Paid. My Credit score has dropped 100 points ( No outstanding Credit. ) I even have a letter from Freedom Mortgage stating they have corrected this XX/XX/XXXX. They purchased it XX/XX/XXXX. According to All the Credit Bureaus it has not happened. They are still reporting my Mortgage paid off and with XXXX XXXX XXXX. I have contacted Freedom Mortgage over 11 times since XX/XX/XXXX. I even have a direct line to Customer Service Escalations and he is no longer answering. I have contacted the VP of customer Service - NO RESPONSE XXXX even had my residence as one I had not lived at for 4 years.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: LA
Zip: 70433
Submitted Via: Web
Date Sent: 2018-02-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I went into foreclosure with my mortgage company and the loan was sold several days later to a new servicer ( Freedom Mortgage ) on XX/XX/XXXX. I requested a reinstatement amount and told me I would have to wait until it was sent out. The first reinstatement letter from the Freedom Mortgage was date XX/XX/XXXX for {$7100.00}. I then called to make the payment and was told I could make the payment but would have to wire the funds. I then called my bank to find out how to do so and then called Freedom Mortgage to get the wire information. At that point I was told I could not make the payment and would have to call the attorney handling the case. I then called the attorney 's office and was told they do not have the case in house at that time. I then call Freedom Mortgage back to request a reinstatement letter in order to get current. I received my new reinstatement letter one day after the date the funds were due by. The letter was dated XX/XX/XXXX, mailed XX/XX/XXXX, and I didn't receiver the letter until XX/XX/XXXX. The due date on the letter is shown XX/XX/XXXX given me no chance at all to make the payment within the deadline. The amount on this letter was for {$10000.00}. I then called the servicer once again to verify that I can still pay this amount and was told no one in the office was there to make this decision and I will have to call back XX/XX/XXXX to confirm. I did call back on XX/XX/XXXX and was told that I would in fact need a new letter but this time the letter would also be emailed to me to make sure it was received in a timely manner. The letter was not emailed to me in fact it was dated XX/XX/XXXX, mailed XX/XX/XXXX ( which is a Friday, and I did not receive it until XX/XX/XXXX, and it was giving me until XX/XX/XXXX to make the payment. I then called Freedom Mortgage ( the servicer ) once again to confirm that I would have enough time to transfer funds and get to my bank to submit the payment and I was told as long as I made this payment within the month of XX/XX/XXXX I would not be charged additional fees. I made previous mention to Freedom Mortgage that I would need some time to transfer funds because the amount of the reinstatement continued to change and I had no idea ahead of time what that amount would be. The new reinstatement amount dated in the letter was for {$12000.00}. On the morning of XX/XX/XXXX I had completed all transfer of funds to wire the total of {$12000.00}. I first called Freedom Mortgage to confirm the wire information and the amount in which they confirmed and then then made the wire transfer that morning. I then received a letter from Freedom Mortgage stating that my funds were received and I was no longer in foreclosure with the new mortgage payment amount of {$1300.00} due XX/XX/XXXX with a grace period of XX/XX/XXXX. On XX/XX/XXXX I logged on my my Freedom Mortgage account to make the aforementioned payment to find XXXX additional charges listed simply as " fees ''. These charges totaled somewhere around {$1000.00}. I was unable to make my regular scheduled mortgage payment so I had to set time aside the following week to investigate the issue. After a lot of back and forth as to what the charges where even for Freedom Mortgage simply said they I paid the reinstatement a day late so I was charged an additional {$1000.00} on XX/XX/XXXX, more than a month after the reinstatement payment was made and accepted. I have full documentation for all the dates listed here and again was told that I could make the payment within the month of XX/XX/XXXX. These fees are excessive and unfair business practices not just for a borrow but for a veteran who has done everything he can within reason to justify the situation.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OH
Zip: 44212
Submitted Via: Web
Date Sent: 2018-02-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-19
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I received a call from my mortgage company stating I missed a payment for XX/XX/XXXX. I told them that I made the payment and had the ACH information to prove it. They took my information and told me that the payment was made, but that it was short of the amount owed. I told them I had automatic payments set up and that it was the same amount every month. They informed me my rate had increased. So, my payment was short {$60.00} I was transferred several times before speaking to a gentleman that told me I was in an ARM and this was the first time my rates were eligible to raise and they indeed had risen by 1 %. I told him I was never notified of the rate change and if I had I would have adjusted my automatic payment. He then stated that mistakes sometimes happen. But, indeed my rate had increased and that unfortunately the company did not send me any notification. But, I need to pay more. He then told me the rate will increase again next year and I should work with him to lock in a rate right now. I was under the impression the ARM was based in interest rates at the current time. But, it seems the company will increase my rates regardless. Also, I believe they had a legal responsibility to notify me that my rate increased. Saying mistakes happen is not a legit excuse. I should have had an opportunity to shop around once I was notified, but they prevented me from doing that by blindsiding me with an increase. Then I was told if I want to save my home I should work with the agent now or my rates will increase. As an XXXX XXXX military member i find this practice to be unethical and borderline illegal. I have the resources to pay my mortgage ( increase and all ) but this man telling me I need to save my home and I was in danger of losing it if I didn't refinance with him is a dangerous practice. Something should be done. Protect our veterans and XXXX XXXX by not allowing these deceptive business practices to be perpetrated.
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: 2018-02-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-15
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: FREEDOM MORTGAGE ORGANIZED A COMPLICATED FRAUD COVER UP IN XX/XX/XXXX WITH XXXX MORTGAGE. XXXX XXXX HAS CONFIRMED LOAN ORIGINATION FRAUD AND EMBEZZLEMENT / MISAPPROPRIATION OF FUNDS OCCURED AT FREEDOM MORTGAAGE AND XXXX XXXX WHEN FREEDOM MORTGAGE WAS CONFRONTED AND CAUGHT ... THEY SOLD THE LOAN TO XXXX *** XXXX REQUESTED THE PROPER LOAN DOCUMENTS TO PROVE THIS WAS NOT A FRAUDULENT LOAN .. AND INSTEAD GOT AN ORGANIZED CRIMINAL COVER UP ORCHESTRATED BY FREEDOM MORTAGE 'S VICE PRESIDENT, XXXX XXXX *** FREEDOM MORTGAGE NEVER PRODUCED THE DOCUMENTS NOR DID THEY DEFER OR REFUSE TO COMMENT AS UNAUTHORIED 3RD PARTY IN XX/XX/XXXX ... ALTHOUGH LEGALLY THEY SHOULD HAVE AND FORCED XXXX TO CANCEL THE LOAN DUE TO NOT HAVING THE PROPER DISCLOSURES OR LOAN DOCUMENTATION *** FREEDOM MORTGAGE LIED TO THE CFPB AND THE CONSUMER IN XX/XX/XXXX AND XX/XX/XXXX AND MISLEAD BOTH OF THEM ON HOW THE REAL ESTATE SETTLEMENT PROCEDURES ACT WORKS WHEN ENFORCED *** YOU CAN NOT MISLEAD A CONSUMER ... YOU CAN .NOT LEAVE OFF LENDER REQUIRED ITEMS TO MAKE A PAYMENT APPEAR LOWER *** WHEN ERRORS OCCUR THEY HAVE TO BE CORRECTED OR 100 % OF THE LOAN HAS TO BE CANCELLED ... IMMEDAITELY ... WITHOUT QUESTION, HARASSMENT, EXTORTION OR ANY FURTHER COLLECTION ATTEMTS OF ANY KIND *** THIS IS COMMON SENSE AND IT IS THE LAW IN EVERY INDUSTRY*** XXXX HAS NOW LOST THEIR STAR WITNESS ... XXXX XXXX KNOWS SHE BROKE THE LAW AND NOW REFUSES T COMMENT *** XXXX KNOWS FREEDOM MORTGAGE BROKE THE LAW *** XXXX BROKE THE LAW BY COVERING THESE FACTS UP *** AND NOW EVERYONE IS HIDING FROM EACH OTHER HOPING WE JUST GO AWAY ... THERE IS A 0.0 % CHANCE OF ME GOING AWAY WITHOUT JUSTICE IN THIS CASE ... I FOLLOW THESE LAWS EVERY DAY ... I EXPECT EVERYONE ELSE TO DO THE SAME WITHOUT QUESTION ... ALWAYS FREEDOM MORTGAGE ANSWERED THE PREVIOUS COMPLAIBTS FALSELY AND ENTHUSIASTICALLY ... SO WHY BE COY NOW??? YOU BROKE THE LAW,,, FACE THE CONSEQUENCES. I CAN NOT SELL STOLEN GOODS OR MISLEAD PEOPLE BY HUNDREDS OF THOUSANDS PF DOLLARS ... AND NEITHER CAN THEY. WE ALL FOLLOW THE SAME LAWS ... SOME OF US JUST NEED FINES AMD PRISON TIME AS REMINDERS. WE HAVE PROVEN FRAUD ... XXXX CONFIRMED FRAUD AND LATER COMMITTED THEIR OWN FRAUD ... SO WE ARE EXERCISING OUR RIGHT TO IMMEDIATE LOAN FORGIVENESS. IF THEY REFUSE TO COMPLY ... I ALSO WANT THE RECORDING MADE OF MY XX/XX/XXXX-XX/XX/XXXX PAYMENTS AND XX/XX/XXXX TO XX/XX/XXXX PAYMENTS IN XX/XX/XXXX ... WHERE XXXX COMMITTED WIRE FRAUD BY TELLING ME THEY WERE APPLYING PAYMENTS TO MY ACCOUNT WHILE SIMULTANEOUSLY STEALING THEM AND NOT PAYING PRINCIPAL AND INTEREST FIRST AS REQUIRES BY THE RESPA. ALSO ... WE HAVE ESCROW FRAUD IN XX/XX/XXXX. I IMMEDIATELY PAID THE ENTIRE ESCROW SHORTAGE FROM THE ANNUAL REVIEW OF XX/XX/XXXX AND IMMEDIATELY GOT A DEMAND LETTER FOR MORE MONEY AND ANOTHER ESCROW SHORTAGE ... THEY CONTINUE TO USE COMPUTER FRAUD TO STEAL $ $ $ AND LEAVE CONSUMERS STRUGGLING TO KEEP UP WITH THE CONSTANT DISHONESTY.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 34293
Submitted Via: Web
Date Sent: 2018-02-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-15
Issue: Trouble during payment process
Subissue:
Consumer Complaint: 1.I refinanced this home in XX/XX/XXXX after I retired from the XXXX and chose a variable rate ( 2.5 % ). Of course, the loan originator sold the loan - to Freedom Mortgage ( FM ). For about the first 3 years under FM, I was constantly barraged with phone calls and letters asking me to convert to a fixed rate ( a higher interest rate, of course ). I repeatedly indicated that I did NOT want to do this since my rate was guaranteed for 5 years. 2. This home has been a rental since I left it upon duty reassignment subsequent to purchasing the home and throughout the remainder of my XXXX XXXX service. Upon retirement, I allowed my son and his family to live there with his rent being the mortgage payment. Due to the timing of his pay and other expenses he is always late making the payment but he has ALWAYS made the payment plus the late fee. 3. On XX/XX/XXXX my son attempted to make the XX/XX/XXXX payment and late fee online. Of course, FM had also added the XX/XX/XXXX payment due which doubled the amount due. My son could only make one payment and the FM website would not allow him to change the amount of payment being submitted. So, he gave me the cash and I mailed a check for XX/XX/XXXX payment plus late fee ( {$730.00} ). 4.On XX/XX/XXXX the payment with the late fee for XX/XX/XXXX was made on line, as usual. However, FM had charged twice for the late fee which caused my son 's payment to return as NSF. ( Instead of the usual {$18.00} late fee, they charged {$36.00}. He paid it thinking this was the usual amount he paid but actually only had funds to cover the payment with the usual late fee amount ). 4. On XX/XX/XXXX I called FM since the payment for XX/XX/XXXX was still sitting in my son 's bank account and I had received the statement indicating the overcharge of {$18.00}. FM assured me they had received the XX/XX/XXXX payment and also acknowledged an over charge of {$18.00} which I was told by the representative was applied to the principle, not refunded or credited. Of course I was not pleased by the overcharge or the way they handled the reimbursement so a supervisor indicated she would apply a waiver to one future late fee and that this would be notated on my account. 5. On XX/XX/XXXX, my son received notice that the XX/XX/XXXX payment ( the payment they assured me they received ) was returned for insufficient funds. I called FM on XX/XX/XXXX. Again there was a supervisor involved because they caused the NSF action by overcharging the late fee and now a NSF fee would be added. That super indicated he would waive the NSF fee and again, take care of the late fee overcharge. Again, this would be indicated in notes on my account. That same day I mailed a check for the XX/XX/XXXX payment plus late fee to FM. After 9 days, it still had not cleared my bank. Concerned that my check was lost in the mail or mail fraud during the XXXX season, I made another phone call to FM on XX/XX/XXXX or XX/XX/XXXX and spoke with another supervisor who told me there were NO notes on my account! At this point, we agreed that I would make the XX/XX/XXXX payment by phone with the phone fee waived. When I queried him whether stopping a payment would result in an NSF fee, he assured me it would not or that I would not be charged. I then called my bank and put a STOP payment on the check. I WAS subsequently charged a fee ( {$25.00} ) by FM for stopping the payment, which has not been reimbursed or applied to the principle as of this writing. FM does record conversations so all this can be verified. 6. It appears that the late fee overcharges were applied to the principle, against my wishes. I was told I could opt to have them placed in " unapplied funds '' and deduct that amount from my next payment or request a refund. I was counting on applying the overcharges to a subsequent payment. FM just does what they see fit regardless of the customer preferences. If I could afford to make additional principle payments I would! 7. The real problem is that we as consumers have no choice who covers our mortgage. This is outrageous and the practice needs to stop. Maybe then you would receive far less consumer complaints. At best, the VA Department needs to reconsider whether FM should be an option to handle a VA mortgage. I've had many mortgage companies over the last 18 years because of all the " selling '' and Freedom Mortgage is by far the worst.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 32533
Submitted Via: Web
Date Sent: 2018-02-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-14
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/XXXX my loan was sold to XXXX Mortgage. I didn't receive any notice until after XX/XX/XXXX. I made my normal mortgage payment from out-of-town through my bank account to XXXX XXXX/XXXX XXXX XXXX on XX/XX/XXXX. In XX/XX/XXXX I received a letter from Freedom Mortgage that my loan was sold to them. My XX/XX/XXXX payment was forwarded to Freedom Mortgage on XX/XX/XXXX by XXXX XXXX but has not been posted to my account.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WY
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-02-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-13
Issue: Trouble during payment process
Subissue:
Consumer Complaint: XX/XX/XXXX I called Freedom Mortgage to make my XXXX mortgage in the amount of {$3400.00} they said it would be a {$15.00} fee so the total amount would be {$3400.00}. A few days later I received my confirmation letter. First week in XXXX I noticed that they had still not withdrawn my payment so on Friday XXXX I decided to call Freedom. I spoke with Teller is # XXXX ( I did not get her name ). The rep had said it was returned from XXXX XXXX XXXX. I went on to tell the rep I am disputing that because I don't see it on my end as being processed. She then said let me contact our cashiering department. After putting me hold she came back to say she can see it was sent to XXXX on XXXX and it was returned to Freedom on XXXX but with no notation. She said I can see it was NOT returned due to NSF She further went on to say that Freedom tried to withdraw the funds but XXXX XXXX XXXX " just didn't give them to us '' I asked her to verify my checking account information and she said I can only verify the last 4 of both the ABA # and the checking account number, she didn't have access to the system that held the entire number. She did verify both the last 4 of the ABA # and the last 4 of the account number and they were both correct. I told her I wanted to make a payment and she told me not to until this was straightened out. She then said I should call my bank to check on their end. I got off the phone with Freedom and called XXXX XXXX XXXX who confirmed that NO attempt by Freedom Mortgage was made to have the funds withdrawn. I asked them to send me a letter to confirm this point. On Saturday XX/XX/XXXX the more I thought about my conversation on Friday I was not comfortable with what I was being told and the fact she told me NOT to make a payment made me nervous so I called again. I spoke with XXXX XXXX id # XXXX and she did confirm that the on XX/XX/XXXX I called to make my payment and on XXXX Freedom credited the payment to my account but on XXXX the funds were reversed with the notation " reversed & misapplied ''. I stated I wish there was a way to verify the ABA and the account number used and she said there is. I said I was told yesterday there was no way to verify and her response was " they just don't know where to look '' at this point XXXX read back to my account number and ABA number and they were correct so we know the funds were not withdrawn to misinformation that I gave on my information. She then said she will send an email to her cashiering department to get further clarification on what " reversed & misapplied '' means. I told her I was not comfortable making my payment so she said there is no reason you can't make a payment. So on XX/XX/XXXX I initiated a bill payment from my XXXX XXXX XXXX account in the amount of {$3400.00} this was the payment amount minus the XXXX phone payment fee to my Freedom mortgage account. XXXX told me to call back late Monday ( XX/XX/XXXX ) and she would have clarification from cashiering on why the payment was reversed. When I got home from work on Monday in the mail was a default letter from Freedom assigning my account to a point of contact. To give XXXX a little time to research I waited until Tuesday XX/XX/XXXX. asked her if she could confirm the ABA and the account number to call back. When I called and asked to speak with XXXX I was told well I can help you ( Teller id # XXXX ) I was told that they had not yet received a response from cashiering on what " reversed and misapplied meant '' while I was on the phone with him he refreshed his screen and said oh they just updated your notes and the reason the payment was never received from XXXX XXXX XXXX because " XXXX and XXXX XXXX XXXX weren't able to talk '' I told him I wanted my XXXX phone payment fee back and I wanted my credit fixed. He told me once I receive the letter from XXXX XXXX XXXX XXXX could email it to them requesting my refund of XXXX and the request to fix my credit. I then asked him if Freedom had received my payment ( because it had been withdrawn from my account ) he said they had but it was sitting in unapplied funds. I asked why would I payment I made be sitting in unapplied instead of being credited to my account. He said he did not know but he would " open a ticket '' to find out why. At this point I said okay thank you. It was at this point after I hung up that I received the default letter with a single point of contact so once again I picked up the phone to speak with my single point of contact. I was assigned to XXXX Teller # XXXX but when I called she was not available instead I ended up speaking to XXXX Teller id # XXXX. I went through everything that happened prior to this call with XXXX to fill her in. She put me on hold so she could research my account and hopefully provide me with a resolution. She came back and proceeded to tell me that on XXXX the reason my account was reversed was due to " different email address ''. I said what? my payment was reversed because the email address was wrong? How would the bank know that? I actually asked her to confirm the email address she had on file and it was correct ( coincidentally my husband works for XXXX XXXX XXXX ) At this point i was flabbergasted because now I have been told 3 different reasons on why my payment was reversed and labeled misapplied. I again pressed the issue of the payment that I made in XX/XX/XXXX int he amount of XXXX sitting is unapplied. She said that happens because of the modification I just did. My modification was cleared up in XX/XX/XXXX 8 months ago. She said she would call me back no later than XX/XX/XXXX with an update. The reason I am contacting the CFPB is that because the reason my loan went into modification back in XX/XX/XXXX with freedom was because of an error on their part that I didn't press and my home almost ended up in foreclosure. Back then I contacted the CFPB and they contacted Freedom and Freedom admitted they had handled things incorrectly and quickly fixed my loan. It concerns me that this time for a payment I was attempting to make they have once again made a mistake, I have been given 3 different reasons/answers on what has happened. I went onto to explain to XXXX that I felt Freedom makes living taking advantage of people that live pay check to pay check and in some cases do not know how to fight for themselves. That they take what Freedom is saying as true and they don't give any push back.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MA
Zip: 02151
Submitted Via: Web
Date Sent: 2018-02-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-13
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/XXXX, I wrote a letter notifying of early repayment of portion of my loan and requested to cancel PMI. In addition, I have requested to cancel Escrow account and requested to send me new Amortization schedule to reflect early repayment of the portion of the loan, keeping the original maturity of the loan unchanged. However, albeit numerous mails, emails, telephone conversations with Customer Service Support, I was not able to satisfy myself to Freedom Mortgage Response response to my letters. Below I provide detailed explanation of each issue. 1. First, I have requested information about prepayment portion of the loan in advance and received a response letter dated XX/XX/XXXX ( references enclosed ). Freedom Mortgage letter listed restrictions on Recast/Principal Curtailment, and related fees, which I have not found in my Original Loan Agreement. I have made numerous calls to dispute your responses, not stipulated in my Original Loan Agreement. In addition, on XX/XX/XXXX, I sent a registered mail in response to Freedom Mortgage letter in addition to sending it by email ( copy of email is attached ), where I have clearly indicated detailed reasons why requirements mentioned in Freedom Mortgage letter to early repayment are not in accordance Loan Agreement. I still have not received their response to my letter dated XX/XX/XXXX ( email as well ). 2. Second, I have requested a statement document from Freedom Mortgage and received a letter of response dated XX/XX/XXXX. The statement detail incorrectly showed the balance of the loan as of XX/XX/XXXX, and did not reflect principal repayment received by Freedom Mortgage onXX/XX/XXXX. Although I have multiple calls and sent email on XX/XX/XXXX confirming USPS delivery of the check to your XXXX XXXX ( refer to email dated XX/XX/XXXX ), the statement and reports were still not updated, and did not reflect accurate payments and balance of the loan in XX/XX/XXXX. Moreover, the balance of the loan as of XX/XX/XXXX was not correctly reported in the Monthly Statement, credit agencies, and Tax statement although I made several calls to the customer service department requesting to correct posting date, and provided evidence that the prepayment cashier check has been delivered to Freedom Mortgage payment address on XX/XX/XXXX at XXXX XXXX. I sent sufficient evidence by email several times ( email evidences are attached ), and it was still ignored. As it was a cashier check, Freedom Mortgage had responsibility to deposit it on the same day and correct balance. As a Borrower, I can not be responsible for any operational issues with processing and posting payments inherent at Freedom Mortgage. Although, Customer Service representative said that they have corrected posting date ( screenshot is attached ) to reflect early repayment portion of the loan, the balance on my statement dated XX/XX/XXXX was still overstated by USD XXXX dollars. As a consequence, my Monthly statement dated XX/XX/XXXX and XX/XX/XXXX IRS XXXX form were incorrectly reported, falsifying balance and payment on the loan. Statement and XX/XX/XXXX IRS Form XXXX enclosed ( attached to the email ). 3. Third, in a letter of response I received from Freedom Mortgage dated XX/XX/XXXX, the lender required me to get an appraisal of the property only with Freedom Mortgage appraisal vendor XXXX XXXX and indicate a reference account number when contacting appraiser. I called customer service after that to clarify why I must use only XXXX XXXX to perform appraisal of my property, and Customer Service mentioned that it Freedom Mortgages requirement to use this vendor. I would like to object this requirement because of two reasons : I do not have a specific wording in my original Loan agreement which would require me to use Lender required vendor for appraisal. In addition, I would like to choose an independent vendor to perform this appraisal to avoid any potential bias and I dont find this requirement reasonable in accordance with Loan Agreement. Please find below is the paragraph of my Original Loan Agreement that specifies this : The requirement for private mortgage insurance in connection with your loan will be cancelled on the cancellation date if you have satisfied the following conditions : ( 1 ) You must have submitted a request in writing to the servicer of your loan that cancellation will be initiated ( 2 ) You must have a good payment history with respect to your loan, and ( 3 ) You must have satisfied any reasonable requirement of the lender or current holder of the loan for evidence that the value of residence securing your loan has not declined below original value of the property and for certification that the equity in your residence has not been encumbered by a subordinate lien Based on above, I do not consider Freedom Mortgage requirement to use only XXXX XXXX for appraisal of my property as a reasonable condition of my Loan Agreement. 4. Fourth, the following requirements were noted in the Letter received from Freedom Mortgage on XX/XX/XXXX for as a requirement for PMI cancellation to my letter dated XX/XX/XXXX : PMI may be cancelled once one of the following ( LTV ) requirements is met, in addition to any other guidelines required by investor : A Loan-To-Original-Value ratio of 80 % or less ( original value is considered the lesser of the purchase price or original appraisal ) and a current property value at least equal to the original property value. A new appraisal demonstrates Loan-To-Original-Value ratio of 75 % or less for loans aged between two and five years. A new appraisal demonstrates Loan-To-Original-Value ratio of 80 % or less for loans aged greater than five years. A new appraisal demonstrates Loan-To-Original-Value ratio of 75 % or less for loans aged less than two years and the appraisal indicates significant improvement in the property My Original Loan agreement contains only the following paragraph with regards to this request : You may cancel the requirement for private mortgage insurance in connection with your loan earlier than the date provided in your initial amortization schedule based on actual payments. You cancellation date in that event is the date on which the principal balance of your loan reaches 80 % of the original value of your residence based upon your actual payments. This may occur, for example, if you prepay principal on your loan. Hence, my Original loan agreement neither contains any reference to investor guidelines required by investor, nor any reference to 75 % for loans aged less than two year, nor reference to appraisal indicates significant improvement in the property as you indicated in a response letter. Therefore, unless you can provide me with a specific evidence based on the Original Loan agreement, I consider your response violating Loan Agreement and does not conform to the requirements of the Original Loan Agreement. In addition, the letter of response received from Freedom Mortgage set a seasoning requirement of 24 months before PMI can be cancelled ( letter of response is attached ). The responses received from XXXX XXXX violates HPA and not in accordance with the provisions of my signed loan agreement. 5. Fifth, in my letter/email dated XX/XX/XXXX, I have requested you to cancel Escrow in accordance with Loan Agreement. I received a response from Freedom Mortgage with a letter dated XX/XX/XXXX, which provided the following requirements for cancellation of escrow have not been met : Loan currently has PMI Loan has not been seasoned for at least 24 months In accordance with loan agreement, the following clauses are specified for waiving escrow : Lender may waive Borrowers obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing The Loan Agreement does not have any requirement for PMI or Seasoning for waiving the Escrow Account. Therefore, I do not consider the response in accordance with the Loan Agreement. The letter lists the following conditions necessary for cancelling an Escrow account : 1 ) Loan is not an FHA loan 1 ) Loan has a Loan to Value Ration below ( 80 % ) a. This percentage is calculated suing the current principal balance at the time of your request divided by the appraised value of the property at closing. b. Any request to remove escrow for loans with a Loan to Value Ration of 80 % or higher will be denied 2 ) Loan has good payment history or timely payments for the principal, interest, escrow payments a. Borrowers may not have more than one 30-day delinquency in 12 months prior to evaluation, or more than one 60-day delinquency in 24 months prior to evaluation b. Your loan is current at the date of review c. If the loan does not meet the requirements months of good payment history, then the request for removal will be denied. Once the above conditions are met, you may submit a new written request for consideration I state here that ( a ) My Loan Agreement does not have these specific requirements listed as a condition for cancellation of Escrow and ( b ) I still met all these requirements as of the date of your response letter. Based on above, I consider Freedom Mortgage denial to remove Escrow as a breach of terms and conditions of the Loan Agreement. 6. Sixth, on the same letter dated XX/XX/XXXX, I have also requested Freedom Mortgage to change monthly payment amount based on the updated balance and keeping maturity of the loan unchanged as in Original Loan Agreement XX/XX/XXXX. Unfortunately, Freedom Mortgage has not responded to this request to change the monthly payment nor sent me revised amortization schedule. 7. Seventh and ultimately, on top of failing to my request noted in the sixth point, Freedom mortgage has not shown correct maturity of the loan based on the revised Amortization schedule ( screenshot of the attached ). Paragraph 4 of the Note in my loan agreement specifies the following about Partial prepayment : If I make a partial Prepayment, there will be no changes in the due date or in the amount of my monthly payment unless the Note Holder agrees in writing to those changes In my Letter dated XX/XX/XXXX ( see reference of delivery of mail and a copy of the original email ), as the principal prepayment event ahead of amortization schedule triggers either a change in ( a ) maturity or ( b ) monthly payment amount, I have requested Freedom Mortgage to change my monthly payment amount, keeping the original maturity of the loan unchanged. Unfortunately, current maturity date on Freedom Mortgage web page is still shown as XX/XX/XXXX ( see screenshot of webpage, and the monthly payment amount is still unchanged, This is leading to overstating my future cash outflow due by estimated USD XXXX dollars ( principal and interest only ). To resolve the problems, I would appreciate if you could address above issues as follows : I have requested the following response From Freedom Mortgage, for which I have not received any response nor call. On the issue numbered ( 1 ) I would appreciate your response to my letter/email dated XX/XX/XXXX, specifying your substantiation of requirement with specific reference to my Original Loan Agreement. Please provide explanation to any deviations of your response letter from Loan agreement, with reference to specific clause in Loan agreement. On problem numbered ( 2 ) I request written amended Mortgage Statement dated XX/XX/XXXX, Amendment to IRS form XXXX, amendment to my escrow account, transactions and balances and amendment to credit reporting agencies. I also request your explanation why balance on my statement was not shown correctly and why Freedom Mortgage has not taken into account evidence of delivery of the cashier check from postal carrier I provided to you in the previous email communications. I would also require Freedom Mortgage recalculate interest posted on the balance on the effective date of payment and send me a check for the difference of posting date and payment date. In addition, I retain the right to report such inaccuracies to Consumer Financial Protection Bureau, XXXX, Texas Department of Saving and Mortgage, and IRS. On problem numbered ( 3 ) Unless Freedom Mortgage provides me with other evidence of requirements indicated in the letter with specific reference to my Original Loan agreement within 15 business days from the receipt of my letter by mail or email, I will report to Consumer Financial Protection Bureau, XXXX, Texas Department of Savings and Mortgage and will consider further legal action based on resolution of the matter. Again, I restrictions to use Single Source not reasonable requirement. On problem numbered ( 4 ) Unless you provide other evidence of your all of your requirements to cancel PMI indicated in your letter with specific reference to Original Loan agreement within 15 business days from the receipt of you my letter by mail/email, I require that you cancel all PMI payments effective XX/XX/XXXX and send me the check for any overpaid amount since XX/XX/XXXX. Even though, I may hire an appraiser after a response received from you, I request that you accept the appraisal from my initial request date, which is XX/XX/XXXX when my LTV ratio reached 79.33 %. Late appraisal would have been resulted from inconsistencies of your requirements with my Original Loan Agreement I have indicated above. On the problem numbered ( 5 ) Unless Freedom Mortgage provides me with evidence of requirements indicated in the letter for removing Escrow with specific reference to my Original Loan agreement within 15 business days from the receipt of my letter by mail or email, I will report to Consumer Financial Protection Bureau, XXXX, Texas Department of Savings and Mortgage. I also require you cancel Escrow and return the balance outstanding on my Escrow account within 15 business days via check. On the problem numbered ( 6 ) and ( 7 ) I request Freedom Mortgage to send me updated amortization schedule taking into consideration partial principal prepayment made on XX/XX/XXXX, correcting either ( a ) monthly payment amount, or ( b ) maturity of the loan. I also request that Freedom Mortgage respond to my request, and based on response, pay me back the difference of principal/interest overpaid based on revised schedule of payment/amortization schedule. I have attached preferred mortgage schedule for your reference. If freedom Mortgage decides to keep both payment amount and maturity of the loan unchanged, I will require that you immediately repay me total amount of future cash flow in excess of the Loan including interest thereon immediately. The estimated amount of future cash outflows under these circumstances is estimated to be {$53000.00} dollars. This letter contains 6 pages, all of which form part of the letter. This mail will be communicated both by email and registered mail. I look forward to your reply and a resolution to my problem and will wait until XX/XX/XXXX before seeking help from a consumer protection agency or XXXX XXXX XXXX, Texas Department of Savings and Mortgage and Texas Attorney General. Please contact me at the above mailing/email addresses provided or by phone at XXXX if you have any questions. For the attention of CFPB I have been trying to resolve the issue for over 2 months, however, I have not received any valid resolution of my requests dated XX/XX/XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 77064
Submitted Via: Web
Date Sent: 2018-02-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-13
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Freedom Mortgage bough out my existing home loan in XX/XX/XXXX. My property taxes, which are to be paid from escrow, were due XX/XX/XXXX. It is now XX/XX/XXXX, 135 DAYS LATE, and my taxes have not been paid. It appears, from reviewing an escrow statement, that when they took over the loan, someone there royally screwed up and did not even calculate the property taxes in my escrow account. This is their fault. The county revenue commissioner has sent a certified letter to me that states my property will start advertising in two weeks for a tax sale. I have talked to numerous people at Freedom. I called mid XX/XX/XXXX when I realized they had not made payment and was promised it would be handled by end of XX/XX/XXXX. These people have mismanaged my funds and have breached contract. I have never been late on a payment I expect the same from them. This morning I was promised it would be paid by close of business today but doesn't look like that is happening, either.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AL
Zip: 360XX
Submitted Via: Web
Date Sent: 2018-02-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-13
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In XXXX Freedom Mortgage received my normal, regular mortgage payment that I have sent to them for years through my bank 's bill pay account. Their 'cash handling department ' misapplied that payment as an escrow payment. In early XXXX the error was caught. We spoke with Freedom Mortgage about it and they put in a ticket to get it resolved, which they have failed to do. Everyone has been nice that I've spoken with but after a dozen phone calls and 4 different solution dates that they have given me, the problem persists. In the meantime my other payments have been processed properly but they went ahead and reported me as late to the Credit Bureau agencies causing my credit score to drop 65 points. They keep telling me that the cash handling department has to fix this and yet there is no way for me to speak with that department. There should be some recourse ; some government body perhaps that has oversight over these kind of abuses.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 60050
Submitted Via: Web
Date Sent: 2018-02-13
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A