Date Received: 2023-09-26
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: Freedom only responded to one request of the the 3 I required them to send... also I asked them to remove escrow which they said they would do thru a letter they sent me
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 615XX
Submitted Via: Web
Date Sent: 2023-09-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-26
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: My mortgage servicer is supposed to pay my homeowners insurance policy. They have not done so yet. The policy was due on XX/XX/XXXX. My insurer confirms that they have not yet received payment. This is the XXXX year in a row that my mortgage servicer has done this. I believe it is their way to get me to use their own insurer. By letting my own insurance policy lapse, they'll force my hand to use theirs. I have contacted my loan servicer several times over the past XXXX months to ensure this wouldn't happen in the first place prior to the XX/XX/XXXX due date, and a few times since, and I don't receive satisfactory answers.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 91977
Submitted Via: Web
Date Sent: 2023-09-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-26
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: I have had a problem with Freedom Mortgage, in regard to my escrow account. In XXXX of 2023, I received a notice of escrow account shortage, and escrow account analysis. I immediately contacted Freedom Mortgage, spoke to a live agent, and paid the shortage. However, my mortgage payment still increased to {$1300.00} as shown in their analysis. I contacted Freedom Mortgage again, spoke to a live agent, who said the escrow account had not been credited properly, and who assured me he would make the correction. After this, my mortgage payment changed to {$1300.00}. Their formula : XXXX expects to pay {$7600.00} over the next 12 months. Spread over 12 months equals {$630.00}. {$690.00} ( PI ) plus {$630.00} equals {$1300.00} ( new payment ). However, if you use their formula and credit correctly, it should look like this : {$7600.00} minus {$630.00} ( escrow shortage payment ) equals {$6900.00}. Over 12 months equals XXXX. This amount, added to {$690.00} ( PI ) equals {$1200.00}, which *should* be the corrected payment. I have spent all the time I am going to on their voicemail from XXXX trying to get to a live person. Now I am turning to an outside agency, in the hopes that you may be able to help them take the time and trouble to correct my account. This doesnt look like a huge discrepancy, as it was about {$100.00} the first time and about {$50.00} the second. But, since its not being credited to the escrow account or the loan, where is the money going? Also, I cant help but wonder, am I the only person having this problem, or are thousands of others who have not noticed or taken the trouble to report it? At any rate, I would just like my account credited correctly, and statements to be accurate. Thats all Im asking for, and Im hoping your agency can help make that happen.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: WA
Zip: 98023
Submitted Via: Web
Date Sent: 2023-09-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-26
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: I have contacted Freedom Mortgage on XX/XX/23 and XX/XX/23 regarding the escrow account. Specifically regarding the insurance payments. I sent over my declaration pages and let them know that our insurance is only XXXX per year and they are stating that it is XXXX which is WAY wrong. I have been having issues since Freedom Mortgage received our loan from XXXX XXXX. I am seeking a way to get away from Freedom Mortgage. They are constantly going against RESPA, i do mortgages for a living for another financial institution and i have never seen such deceiving information and incompetence from a company. They are very terrible at their escrow analysis procedures and they are not forthcoming with the information being requested from their customers. they have never sent me a full payment history when requested which again is against RESPA and I'm considering seeking an attorney to sue them for undue stress caused by them miscalculating the escrow every single year. they have even double paid my insurance company and they had to send it to me and i had to re-deposit it back into escrow. this company does'nt deserve to be in business at all!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OH
Zip: 448XX
Submitted Via: Web
Date Sent: 2023-09-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-26
Issue: Trouble during payment process
Subissue: Trying to communicate with the company to fix an issue while managing or servicing yo
Consumer Complaint: My mortgage was purchased by a company called Freedom Mortgage last year. Im extremely concerned with how theyre conducting business as Ive had mortgages since XXXX and Ive never had to work with a company this dishonest. My insurance has been escrowed for years and theres never been an issue with payment. Last year, freedom mortgage wasnt paying my insurance. I called them about the lack of payment ( they did not reach out to me ). They said they couldnt get in touch with XXXX and I needed to call them. XXXX had not heard from them. I then got a threatening letter from Freedom Mortgage stating I would need to be on their insurance and would pay a monthly fee ( I wanted to continue with XXXX, not forced onto Freedom mortgages insurance company ). After MULTIPLE emails and phone calls ( which took weeks of my time ) I was able to remove Freedom Mortgage from paying my insurance. This year, I have paid my insurance in full ( just last month ). Freedom mortgage is now stating I will be charged {$80.00} a month to be on their insurance. My home is fully covered. Ive emailed Freedom Mortgage twice and called 3x, the phone calls have went nowhere, I just get sent around in circles and put on hold for 15 mins. Only one of the emails has been answered that they need to research this issue. Im not sure what needs to be researched as I literally explained this to multiple workers there, last year. Again, I have paid my home insurance and refuse to be on theirs as that is stealing {$1000.00} from me. Please research this company- Im sure they are doing this to multiple innocent people that never even signed up to do business with them.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: IL
Zip: 606XX
Submitted Via: Web
Date Sent: 2023-09-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-25
Issue: Trouble during payment process
Subissue: Escrow, taxes, or insurance
Consumer Complaint: Issue with Freedom Mortgage Background : I'm in the service and rent out my townhome in XXXX. I'm currently stationed in XXXX. My renters have Renters insurance, I have a separate policy, and the townhome association also has a policy. Issue : Earlier this year, my Mortgage Company ( XXXX XXXX ) sold my loan to Freedom Mortgage. Upon transfer, Freedom Mortgage required proof of insurance on my townhome. I provided the policy I use under XXXX ( XXXX XXXX XXXX ) and the policy provided by my XXXX XXXX XXXX ( XXXX XXXX XXXX XXXX ). The XXXX XXXX policy covers exterior and the interior for hurricane, wind, and hail damage as required in XXXX. XXXX XXXX is claiming I don't have the correct " verbiage '' required to cover my property for " betterments and improvements. '' I asked for clarification but they can't define what " betterments and Improvements '' means. And they failed to provide documentation on how the policy works ( deductions, coverage, etc ) As a result, they installed an insurance police on my mortgage for {$2000.00} to cover " betterments and improvements '' annually. I asked if this means modifications, post build modifications, etc but they couldn't clarify this. Of note, I have none of these as it's a rental unit with original construction ( toilets, sinks, cabinets, etc ). We're facing hardship with the pending government furlough and this is ridiculous as I've never had to have this type of coverage in 12 years with this home ( and never missed a payment ). Regardless of the furlough this is ridiculous in the face of the economy when the XXXX has two policies ( a 3rd one if you count the renters living in the unit ) and now they want a 4th policy to cover " betterments and improvement. '' I called XXXX about this but they couldn't explain it either. Please help
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CO
Zip: 80920
Submitted Via: Web
Date Sent: 2023-09-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-23
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue: Delays in the application process
Consumer Complaint: Re : Freedom Mortgage - Loan Servicing Issue, PMI cancellation On XXXX, I submitted a request through Freedom Mortgage 's online platform to cancel PMI from my mortgage in order to save money on my mortgage costs. My financial advisor recommended I take this step as he had recently completed this request and stated it was easy to complete and it is likely I would qualify based on current market trends. On XX/XX/XXXX, I received a response that my mortgage payments were in good standing, I was nearing 2-year seasoning as of XX/XX/XXXX and to expect a Brokers Pricing Opinion form in the mail. The next week, I received a letter dated XX/XX/XXXX that my request was denied due to a high XXXX and not achieving 2-year seasoning. Over XXXX and XXXX I tried to obtain clarification on the process for cancelling PMI by emailing, calling and sending a letter to the po box . I received different information each time I contacted Freedom Mortgage. At times I was told XX/XX/XXXX was my 2-year seasoning date at other times it was stated that 2-years was not achieved until XX/XX/XXXX which is when the first mortgage payment was posted ( I closed on my house on XX/XX/XXXX ). Then I was told by a team leader that Freedom Mortgage 's system was inflexible and they were not allowed to send out a XXXX until XX/XX/XXXX. I was told to call them back on this date. I did call in on XX/XX/XXXX and spoke with 6 different people and no one was able to send out a form with no real explanation as to why. I was told to submit my request through the online platform ( which always takes 10 days to process ). I finally escalated a request to receive a form for the 3rd time and a team leader emailed the form. I immediately sent in the form and noticed the payment of {$100.00} was cashed on XX/XX/XXXX to process the XXXX. I called to inquire what to expect next and the customer service rep stated that while she saw a check was cashed, the XXXX form seemed to be missing and requested that I resend the form through the online platform and she would put a work order through so they would be expecting the form. On XX/XX/XXXX, I received a letter through the online platform from Freedom Mortgage titled Goodbye. The letter stated that as of XX/XX/XXXX my mortgage would now be serviced through XXXX XXXX XXXX. This is the 4th mortgage service provider in 2 years. Since this letter was received there now seems to be a sense of urgency to complete the PMI cancellation request with a broker calling me several times in one day to schedule an appointment. Based on my experience with Freedom Mortgage along with the recent XXXX XXXX fine issued by CFPB for offering kickbacks and incentives to real estate agents and brokers to work for the benefit of Freedom Mortgage, I do not feel confident this organization is working in my best interest. In their sudden sense of urgency to fulfill this commitment, I expect the report to come back that I do not qualify for PMI cancellation and for Freedom Mortgage to maintain my {$100.00} payment. I have submitted a request today through the online platform to cancel my request for PMI cancellation and apply the {$100.00} to my principal amount. While {$100.00} is not a major financial loss, it is a significant loss to me as a consumer, because I will need to restart the process with XXXX XXXX XXXX and pay additional fees for what seems to be a routine request. Based on reading numerous complaints on XXXX, XXXX, XXXX XXXX, and XXXX XXXX it is discouraging to read so many complaints that involve the consumer realizing savings from a transaction or request. Consumers that are trying to refinance, complete loan assumptions or PMI cancellation requests seem to get stuck in an administrative loop that takes months to resolve through escalations and complaint requests and the reward for struggling through Freedom Mortgage 's administrative incompetency is to then have your Mortgage sold off in a bundle. This administrative loop benefits Freedom Mortgage at the expense of consumers. Consumers deserve better! Once they choose a mortgage lender, they are then at the mercy of an industry that buys and sells mortgages frequently without any consumer choice in the process. I believe a 10-15 day notice of selling your mortgage to a new provider is insufficient, especially if you have outstanding requests with the provider. I spend over 20 years teaching employees how to provide customer service, consultative selling skills and leadership development. Throughout this process I have asked myself where has service gone in the United States? It often seems that corporations are more interested in hustling consumers out of their money rather than helping them save money. Thank you for reading.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-09-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-22
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: I have called Freedom Mortgage Company several times and asked them to please correct the reporting status on my credit report and each time Im told it will be taken care of. It has not been done and has resulted in several of my credit cards having the limits lowered and 2 of them closing my accounts because if false reporting status. I am in touch with my attorney about filing a lawsuit against this company for defamation of character. This has had a huge impact on my credit and they dont seem to care. This is very unethical practices for a mortgage company.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 28411
Submitted Via: Web
Date Sent: 2023-09-22
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-20
Issue: Closing on a mortgage
Subissue: Closing disclosure or other related disclosures
Consumer Complaint: I filled a complaint a few days ago and Freedom mortgage replied with basic information not the breakdown of {$55000.00} partial claim. What was added up to get to XXXX XXXX?!?!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30013
Submitted Via: Web
Date Sent: 2023-09-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-09-20
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: On XXXX XXXX Freedom Mortgage reported my account XXXX days past due in the amount of {$28000.00}. We are currently in Loss mitigation, with Freedom Mortgage and they were not to report this to credit bureaus. This is the second time Freedom Mortgage made this mistake and has cost us over XXXX points on both of our credit report scores. With them reporting to credit bureaus, my credit score with XXXX XXXX and XXXX went down XXXX points.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: GA
Zip: 30135
Submitted Via: Web
Date Sent: 2023-09-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A