Civic Financial Services, Inc. CFPB Complaints

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2000 Latest Complaints
Date Received Timely Response Product Issue State / Zip Submitted Via Tags
02/05/2019 No
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 90631
Web
A mortgage servicing company XXXX XXXX, Address is XXXX XXXX La XXXX XXXX XXXX XXXX, XXXX along with a XXXX licensed finance lender Civic Financial Services, LLC, XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX in collusion together overcharged us the consumer {$31000.00} the attempted to disguise as default interest deferred. For months we disputed the charges and they failed to correct or remove them. Their scheme was to bill it this as default interest deferred despite us paying up the monthly payments and two extension fees of over {$14000.00}. in what we see is clearly an attempt via predatory lending and unfair business practices to strip homeowners of equity theyve built up in their properties or cause them to lose their properties. Obviously, we dont know how many victims theyve dont this to. We believe based on our experience dealing with them this practice by Civic Financial is a reflection of a bigger problem thats likely built into their business model and either flat out illegal or predatory and unethical practices violating consumers and lending laws and usury laws. and is most likely a reflection of a more widespread problem in what they are doing. Id bet this can be a goldmine for an attorney willing to look into this or do a class action suit. Despite the States strict usury laws this company seems to be claiming they can charge an interest rate of 17 % disguised as default rate even after they accepted our note payments along with plus two separate loan extension fees that brought the account current. The confusion began after our refinance did not close as promised which Civic knew they entire time we had been working on. We paid Civic extension fees twice totaling over {$14000.00} and on top of that XXXX XXXX of XXXX along with XXXX XXXX representing XXXX servicing charged another {$31000.00} theyre wrongfully billing as default interest deferred. They went so far as to demand this amount at close of our escrow and took it from our proceeds. On the phone with the banks representative XXXX XXXX and XXXX XXXX both assured me when I was making the {$14000.00} payment bringing the account current they were stopping and removing the default charges based on the payment and extension fees. We highly suspect the Predatory practices at the very least, and usury and other breaches and unfair business practices or fraudulently attempting to strip us of our equity because theyre the only ones who known all along we had a rehab holdback amount close to {$50000.00} thatd be due to us that they were going to have to return at close of escrow to us they were attempting this scheme as a way not to return what was due to us. Its bad enough that we paid interest on that forty-seven thousand and never used it. Weve attempted to resolve by emailing them plus asking on the phone more than once. The payoff statement they presented at the close of our refinance showed {$31000.00} they demanded labeled as Default Interest Deferred. They later revised that down to {$20000.00} after our mortgage broker and escrow raised questions concerning the amount, validity and legality of their high " default interest '' charges. We suspect they reduced the amount by {$10000.00} hoping to placate us. Were not the go-away type on {$20000.00}! Especially when weve already paid them over {$130000.00} in interest and fees on an 8.5 % loan we kept for just over 18 months. and theyre trying to steal another {$20000.00} on top of it! How would you feel? In addition to reaching out to regulatory agencies were looking for an attorney If you can provide someone with experience suing mortgage companies and whos even willing to sue this as a class action lawsuit that would be helpful. I would bet money based on our experience dealing with these two businesses the practice by Civic Financial is a reflection of a more systemic or systematic issues and a business model of predatory and unethical practices thats even more widespread problem in their organization and the way theyre doing business. Again, when we have already paid them over {$130000.00} in interest and fees on an 8.5 % loan, we kept for just over 18 months Meanwhile we need the help of your agency since you have oversight or regulatory powers over their lending business to have them return our {$20000.00}, they overcharged us at COE plus interest, costs, penalties and damages to make sure these rich XXXX pay for stealing from working class people using their clever financial schemes. Our loan was for close to {$700.00} XXXX dollars and were one of the many clients I imagine they do this to every day. Clearly these are really bad people the world would be better without. If they were in the right, how come magically {$10000.00} was taken off or went away? I suspect, these people are violating a ) California UCL, b ) Business Practices, c ) California usury law, d ) Regulation Z and e ) probably Dodd-Frank.
10/22/2018 No
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • OR
  • 97214
Web
Civic Financial and XXXX XXXX XXXX have a ) incorrectly posted and maintained my mortgage history file and reported late payments, when each and every payment was timely made in the month when due, and b ) then submitted a false payoff demand with erroneous fees and charges, causing the collapse and forfeiture of the conventional refinance which was being closed to pay off the high interest rate Civic loan. The complete chronology and all support documents are available which verify the timely payment, and the fraudulent accounting ledger and payoff demands from Civic Financial and its subsidiary XXXX XXXX XXXX. My efforts to rid myself of the plague of Civic Financial and their servicing entity XXXX XXXX were subverted by Civic and XXXX, as their improper accounting and misrepresentation of my payment history again resurfaced, when XXXX submitted their erroneous payoff demand to XXXX XXXX XX/XX/2018, adding charges for monthly payments that had long before been tendered and received by them, plus adding late fees and other extraneous charges, driving their loan payoff demand up from it's true amount of {$270000.00}, by no less than {$14000.00}, to an amount of {$280000.00}. This then caused failure of the substitute " hard money '' loan, as the payoff demand exceeded the total funds available of the new {$280000.00} replacement loan. As a result of Civic/XXXX false mortgage history report, I was financially harmed in three manners : by the loss of the far lower mortgage interest rate : 5.375 % instead of the 9.5 % that Civic was charging ; and the magnified effect of this interest rate differential over the 30-year life of the new XXXX loan, the costs of the appraisal, and the impairing of my credit report, causing higher interest rates on all other forms of credit. DAMAGES : Civic/XXXX XXXX false report of late payments was the direct, sole and proximate cause for the termination of the closing of the approved 30 year fixed rate conventional loan, with interest at the rate of 5.375 %. The interest rate differential over the life of that loan, versus the high interest rate charged by Defendants is both substantial and readily quantifiable : - Civic Financial Services Note Rate : 9.500 %. - Approved replacement Note Rate : 5.375 % - Loss of New Loan : {$270000.00} @ differential of [ 9.500 5.375 ] 4.125 % : - 30 year loan forfeit as a result of Defendants ' behaviors : {$270000.00} x 30 years x 4.125 % = {$330000.00} - Extension Fee I paid to Civic : {$2800.00} - Appraisal Fee Paid for New XXXX loan : {$1100.00} - Defamation of Credit Character : Impact reasonably projected to extend for 36 months : Cost of Credit increased by 6.0 % Average credit balances : {$20000.00} $ XXXX@ 6.0 % per annum ; {$1200.00} per annum ; Over 3 year impact period : {$3600.00} - Summation of Damages : Loss of New Loan : 30 years x 4.125 % = {$330000.00} Extension Fee : {$2800.00} Appraisal Fee Paid : {$1100.00} Credit Impairment : {$3600.00} TOTAL FINANCIAL HARM : {$340000.00}
10/08/2017 No
  • Mortgage
  • Other type of mortgage
  • Trouble during payment process
  • FL
  • 33496
Web Older American
I borrowed from Civic Financial {$150000.00} on my prior primary residence at XXXX XXXX XXXX XXXX XXXX XXXX Florida for a restaurant venture in NC that failed. I borrowed the money in XX/XX/XXXX and prepaid the mortgage through XX/XX/XXXX. In XX/XX/XXXX I screwed up my monthly payment for {$1500.00}. Civic thorugh its servicer XXXX sent to my XXXX XXXX home a notice to accelerate to foreclose and that I must pay {$1800.00} prior to XX/XX/XXXX. I tried to pay the amount through XXXX but they would not take the payment. I spoke with a XXXX Representative XXXX XXXX XXXX who told me that my interest rate went from 9 % to 18 % and that I owed {$5800.00}. I do n't have {$5800.00} and I ca n't afford the new payment of about {$2400.00} monthly. XXXX XXXX said pay two payments of the {$1500.00} for about {$3200.00} and she would get Civic to make the loan current and place the loan back at 9 percent interest. I got bank checks and mailed them to XXXX and made my normal payments via bank check until the Hurricane hit Florida and I tried to pay by phone but XXXX again refused my payment. I spoke again with XXXX XXXX who told me that I made no payments prior which she then retracted and said my bank checks were not cashed but returned to my NC home that I rented. My bank wont give me credit on those checks for 90 days and XXXX knew my home address to be XXXX XXXX as they sent me my notice to accelerate foreclosure to that address in XX/XX/XXXX. Now Civic wants close to {$16000.00} to resolve foreclosure when I owe them about {$6000.00} in payments that I had already made but they refused. Now I 'm going to lose my home.This is most unfair. This in my opinion is predatory lending.
12/26/2016 No
  • Mortgage
  • Other mortgage
  • Loan servicing, payments, escrow account
  • FL
  • 33411
Web
I applied for a mortgage loan with Civic at the end of XXXX. I received a pre-approval defining the terms of the loan. However, Civic did not disclose to me that if the loan is past due, the interest rate will increase to 18 %. In XXXX XXXX, due to financial hardship, I failed to make the monthly payment on time. As a result, the interest rate increases to 18 %. I tried contacting them to see if they are willing to reduce the interest to what it was at the inception of the loan ; however, they refused to.
02/06/2019 No
  • Mortgage
  • Other type of mortgage
  • Trouble during payment process
  • CA
  • 90631
Referral
06/28/2017 No
  • Mortgage
  • Conventional home mortgage
  • Closing on a mortgage
  • FL
  • 33055
Web Servicemember
10/04/2016 No
  • Mortgage
  • Other mortgage
  • Application, originator, mortgage broker
  • CA
  • 90278
Web
09/08/2016 No
  • Mortgage
  • Conventional fixed mortgage
  • Application, originator, mortgage broker
  • TX
  • 78723
Web
06/27/2014 No
  • Mortgage
  • FHA mortgage
  • Application, originator, mortgage broker
  • CA
  • 93556
Phone