| 07/02/2022 |
No |
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Web |
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This all started in XXXX when I attempted to refinance with central mortgage funding LLC but we had multiple issues within the two months it took to close. The rep initially promised a lower rate than we were getting with our current lender. It turned out my score was just under what was needed so he stated I could remove my name from a card I was the joint owner on and that would move my score up. So, I did this and it did not work. He then stated I would need to put {$700.00} on the card I just took my name off of in order to move the credit score. When I stated that was not an option, because who has {$700.00} sitting in the bank and needs a refi anyway, he stated that the credit bureau had that account under investigation and we would have to go a different way to get the loan.
Over the next month, we signed paperwork to start the process, which I thought was strange because I had refinanced before and only signed one set of paperwork at the end. The rep assured me this was just their process. I continued to ask questions regarding the total monthly payment and expressed concern over the bill continuing to be raised. He stated that based on the interest rate and the low score it was just part of the process. Two months in I was persistent in getting the final numbers before closing and was informed he would call the day before and go over all the paperwork. HE NEVER CALLED. The final paperwork was due to be signed and we were told at the table what the payment would be. It was on the high end but as long as we were getting the cashback we expected it would be fine. We signed and were told a couple of pages were missing but if they needed us to sign them they would call. We never got a call so we waited the expected three days for the cash to be deposited. The days went by and we started calling the rep asking what was going on. He said it's based in California so it may take an extra day or two to hit the account. By the end of the week if finally does end up in the account but we were {$5000.00} short of what we asked for. When I spoke with the rep he stated it was an oversight and nothing could be done since it was past the three days but in six months if we refi with them again we won't pay closing costs. When I explained that is not okay and this needs to be fixed, he sent me to the branch manager who again reiterated that since we are past the three days they can not do anything to correct their mistake, even though the original paperwork clearly showed the intent to have the additional funds pulled from the refinanced loan.
This has been the absolute worst experience I have ever had with a company. I am now having to refinance the refinanced loan with the original company, which means double closing costs on what we originally wanted, just to get away from this company. DO NOT USE THIS COMPANY. They will swindle you out of your money and attempt to blame you for allowing it to happen.
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| 07/30/2023 |
Yes |
- Mortgage
- Home equity loan or line of credit (HELOC)
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Web |
Older American, Servicemember |
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My name is XXXX XXXX, I am a XXXX, decorated XXXX Veteran, and XXXX from XXXX and facilitate support groups for veterans with similar conditions. I am honorable and generous in nature, however through these transaction ( s ) I have been severely defrauded, emotionally and financially injured as a result of the predatory business practices of these companies. I need your assistance to seek restitution against this Company : Central Mortgage Funding.
Facts and Details : On XX/XX/2023, I was contacted by XXXX XXXX at Central Mortgage Funding located at XXXX XXXX XXXX # XXXX, XXXX, MI XXXX, soliciting a cash-out loan for my dwelling. This company began collecting my information and promised to provide a loan at 5.75 % with {$290000.00} cash out and to close by the end of XX/XX/2023. I was advised by XXXX XXXX that they needed to obtain a Termite report and funding will be at the end of the month, XX/XX/2023, at no cost to me.
Termite Inspector XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Once these items were provided, I was advised by XXXX XXXX not to pay my monthly mortgage payment, as they promised to close the loan at the said terms described previously. There has been a very long delay and the XXXX XXXX XXXX continued to delay the closing, I called them after the inspection left a message it had been completed and it passed, and I have yet to hear from XXXX or anyone from the Company, I have called and left many, many messages. I am late on my house payment again.
Eventually, XXXX XXXX XXXX never provided the loan as stated. Because of the malfeasance of the XXXX XXXX XXXX and XXXX, I have been defrauded, misled and incurred significant damages.
I further believe I was purposely advised not to pay my mortgage so my credit score would diminish, providing XXXX XXXX XXXX another angle to press me for additional fees and funds.
The damages I have incurred : -A deficiency on my credit report of a Late payment due to XXXX XXXX XXXX advising to not pay my mortgage. This could also create a risk of foreclosure.
-Multiple and unnecessary hard inquiries on my credit report, creating a deficiency in my credit score.
-I have been misled, misrepresented, and lied to, which has caused me emotional distress and fatigue.
-I have lost money due to late payments on my Home and Personal, which all my bills were supposed to be paid off.
-I am basically now in a greatly diminished capacity to attain a loan from another provider.
-Recently I've learned from my homeowners insurance policy is Central Mortgage Funding LLC is the Lien Owner on my policy.
Your assistance is needed and appreciated to stop this mortgage company from misusing and abusing citizens.
Sincerely XXXX XXXX
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| 02/18/2023 |
Yes |
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Web |
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I had worked with CENTRAL MORTGAGE FUNDING ( CMTG ) for a loan with an objective to get some cash-out about XXXX to XXXX to help save the Kitchen and Remodeling Franchise business we had.
CMTG was able to underwrite the loan provided a Loan Estimate with {$87000.00} cash-out, and on XX/XX/2022 : -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- at the time of signing the Initial Disclosure, the cash-out was XXXX.
But on XX/XX/2022 : however the final closing disclosure ( CD ) document had a cash-out of {$8700.00} 1. On the closing signing in event at my home a settlement officer came to get the signatures for the closing document.
2. I refused to sign the CD, the settlement officer calls the loan officer late around XXXX XXXX to tell him that I am not signing the document.
3. The loan officer then talks to me on speaker on the same call and pleaded with me several times for almost 10 minutes and told me that I have XX/XX/2022 to cancel the loan.
4. At this point, we obliged to sign the document.
5. Due to significant work that week ( Thursday and Friday and weekend ) due to a deployment for migration in my job, I had hardly had sufficient time to go thru the document. But on Sunday, I decided to cancel and on XX/XX/XXXX I signed the Notice of Cancelation and duly sent to Mortgage officer by email and as well by USPS overnight.
Loan officer again tried to convince me to take the loan, I refused then he said the funds have been already disbursed so asked to talk to the mortgage company and have the money returned back.
I worked with mortgage company had it returned on XX/XX/2022 after several calls with the previous mortgage company.
But what title company did was to send another wire with the exact payoff amount which the automatic system took it and closed the loan.
Now, the second mortgage funds with bank ( an SBA loan ) was not paid until XX/XX/XXXX week because the bank got acquired by another bank and they were not aware there was a payoff for my loan. After several follow-ups, they found where the funds were and got paid in XXXX.
The other checks are still with me as instructed by the loan officer were never cashed.
Now, they send an email that I have signed the CD and the loan can not be reverted.
I feel cheated and distraught as the loan had added another XXXX XXXX to my debt. I am alreayd XXXX XXXX XXXX, the only way, I can payoff this loan is to sell it as I donot have the capacity to pay {$3700.00} every month after my retirement which I am yet to decide.
I need justice, but legally, I have no options.
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| 08/27/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
- Changes in loan terms during the application process
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Web |
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Central Mortgage ( https : //centralmortgagefunding.com/ ) is giving knowingly fake loan quotes in a bait-and-switch operation.
Company made unsolicited calls to me in early XX/XX/XXXX offering a home loan, apparently prompted by a credit pull by another lender.
On XX/XX/XXXX, company offered a 30 year loan with a 7 year arm, 0 points, for 5.0 %, and a 30 year fixed loan for 5.875 %, 0 points. Confirmed in a PDF.
I requested a loan estimate. They declined. I declined further dealings.
Company continued contacting me.
On XX/XX/XXXX, company again offered 5.0 % 7 year arm, 0 points. Again this was sent to me in a PDF that day. Twice.
On XX/XX/XXXX, I informed them I had gone with another lender, since they were unwilling to provide their quote in a formal loan estimate. Company responded that they would be willing to try to beat that other lender. I invited them to do so, but that it needed to be in a formal loan estimate.
On XX/XX/XXXX, Company responded " the best pricing I could find for you isa 5/6 ARM loan option with 6.625 % APR With you buying down 2 discount points. '' I inquired why the difference. In 5 days, with no additional information, the quote went from 5 % for a 7 year arm, 0 points, to 6.625 % for a 5 year arm, 2 points.
On XX/XX/XXXX, Company responded : " So the First option I quoted you for was a typo I apologize it should have said 6.0 % APR. '' A typo can not account for receiving the same quote 3 different times. Even if true, it does not account for a change from a 6 % 7 year arm with 0 points to, just 5 days later, 6.625 % for a 5 year arm, 2 points. There was no notable change in market conditions in those 5 days.
This Company has multiple reviews online indicating that their quote had changed midway through the loan process. The above fits that mold.
This is harmful to consumers.
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| 03/13/2023 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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XX/XX/2022, I had refused to sign the as the loan cashout was reduced from XXXX to XXXX from initial disclosure to final disclosure respectively.
I had accepted to sign the loan only after the mortgage officer pleaded with me to sign the documents on phone while in closing event after the closing agent who had come to my home called the loan officer as I refused to sign.
The loan officer said that I have until XX/XX/XXXX to rescind. I had accordingly signed and cancelled on XX/XX/XXXX. However, there is a clear trust violation that has happened here as XX/XX/2022 is the fourth day from closing.
My previous compliant on the company was returned empty handed saying that I did not cancel on due time. You should be aware, I was misguided here and I had trusted the loan officer.
In your response you had not commented anything on the loan officers deliberate lie to misguide me.
In order to alleviate my distress and the feeling of being betrayed by the loan officer, I want to atleast convert my creditor checks in my name so that I can utilize them on a water damage repair to my home as I have claim, I had earlier used that money to my failing business to survive my situation.
Pls. let me know if you can do that, that way, I can atleast find some benefit over an immediate expense I have that way, I can get rid of the anger, distress and feeling of being betrayed by your loan officer.
The checks and check amounts pertain to the following creditors are 1. IRS Repayment plan ( {$4900.00} ) XXXX. XXXX XXXX ( {$3700.00} ) XXXX. XXXX XXXX XXXX ( {$1900.00} ) XXXX. XXXX XXXXXXXX ( {$1700.00} ) Pls. change it to my name and send.
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| 02/08/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Complaint about Central Mortgage Funding , LLC based out of XXXX MI. Other following trade names : Central Mortgage Funding ; Central Mortgage Funding XXXX XXXX LLC ; XXXX XXXX XXXX. XXXX XXXX This company has been repeatedly calling me over the past 45-60 days after I have asked them multiple times to take me off their call list. At the beginning of the calls before I make my request I ask if the call is being recorded and some employees say 'yes ' and others say 'no '.
One instance they called me 3 times over a two and a half hour span and every time I asked to be taken off the call list.
The most recent call today XX/XX/ I was able to get the supervisor on the phone by the name of XXXX who claimed this was their first time calling. This was a false statement by the supervisor as they've called close to 30 - 50 times.
I work a job that requires me to answer the phone all day with clients. This company is personally affecting my work production and my income by harassing me.
This company is a disgrace to mortgage companies that seems to collect business by harassing consumers into working with them.
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| 08/03/2023 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I have been working with Central Mortgage Funding for at least 2 months. Completed all the paperwork, paid the full amount for a home appraisal, did everything I was asked to do. There were two issues with my appraisal. 1. I have to replace the front window. The window has been ordered, and I have someone to install it. 2. I have to relocate my sand point well. This I can also do and have help to accomplish.
XXXX XXXX of Central Mortgage Funding told me after receiving the appraisers report I should just sell the house and quit dealing with me. He has disappeared into thin air. His company also will not respond to my emails.
This also is a legal matter as I have to refinance to get my ex wife off the loan and I have made this clear.
I have had no response whatsoever in a week even when I have asked multiple times for information/explanation
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| 01/30/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Hello, I have been in the market to purchase a investment property. With my credit being pulled by my lender I have been getting bombarded with calls from other lenders. One lender in particular XXXX XXXX I have told the representatives 5 times in counting to put me on their DNC list, but I continue to receive calls.
The two phone numbers that are calls are XXXX XXXX I have received XXXX calls today XXXX and have been getting calls since XXXX At XXXX pm XXXX I spoke to a person by the name of XXXX XXXX He was very rude and when I told him I requested to be put on the DNC he continued to talk over me and try to sell and ask what I was looking to do. He was very unprofessional.
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| 11/28/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I received an unsolicited call from Central Mortgage at XXXX XX/XX/22 they purchased a trigger lead from an application I made through another company. I asked him to identify himself with name and XXXX number. He said they only provide the information if I agree to work with him. I asked how he got my information he told me that the XXXX XXXX I applied with sold my information to him. At which point I explained he is lying and I need his XXXX number he than hung up on me.
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| 06/21/2021 |
No |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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We did a refinance and credit cards were added to the payoff without our knowledge. So for 2 weeks we have tried to contact 2 different people that we worked with. Nobody has helped us or returned our calls to fix this. The title company sent 3 checks. For these payoffs, problem being they are/were already payed off and we had no knowledge of them being included on the loan we were never told. Now we have 3 checks sitting in the house that we cant do anything with.
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| 02/02/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Hello, I filed a complaint against a mortgage company ( central Mortgage ) on XXXX. This company has been calling me multiple times per day after they have replied to my initial complaint. I want them to stop calling me or I will take legal action. This is my second complaint to the CFPB and I want it to be the final.
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| 01/30/2024 |
Yes |
- Mortgage
- Conventional home mortgage
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- Struggling to pay mortgage
- An existing modification, forbearance plan, short sale, or other loss mitigation relief
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Web |
Older American |
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| 01/08/2024 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
- Changes in loan terms during the application process
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Phone |
Servicemember |
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| 12/21/2023 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
- Confusing or misleading advertising or marketing
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Web |
Servicemember |
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| 09/15/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
- Application denials
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Postal mail |
Older American, Servicemember |
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| 07/18/2023 |
Yes |
- Mortgage
- Other type of mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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