| 08/22/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Settlement process and costs
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Web |
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We applied on XXXX XXXX, 2015 and eventually closed a HARP refinance with First Mortgage Company of Idaho on XXXX XXXX, 2015. There were a number of issues with the entire process that began from the start ( i.e., rate lock without authorization ) and have continued following closing ( i.e., understated loan payoff, overstated XXXX payment ).
1. Rate Lock - The rate was locked by the loan officer without our authorization at 4.125 %. This would have been ideal had the loan actually closed prior to lock expiration. The loan officer committed to absorbing the cost of a rate lock extension should it be needed.
2. XXXX Mortgage Subordination - We have a XXXX mortgage that is serviced by XXXX XXXX. XXXX XXXX required an appraisal or AVM to substantiate the value of the property. Note : XXXX did not require either to refinance the XXXX. In an attempt to save costs, the loan officer attempted to rely upon a real estate broker opinion to suffice as a AVM. XXXX XXXX rejected what was provided on a number of occasions. We used our contacts within the mortgage industry and provided the loan officer with a number of AVMs that were provided within minutes. These, along with another updated broker opinion, were ultimately provided to XXXX XXXX and accepted. It is unclear which was accepted. Regardless, the time it took for XXXX XXXX to approve the subordination request caused the interest rate lock extension fees to substantially increase. This issue was compounded by the utter lack of timely customer service offered by XXXX XXXX. Repeated phone calls by us to their customer service team expressing our frustration did not result in commitments to return phone calls. Note : The subordination team only communicates via XXXX and facsimile. If we were past due, we would surely have an account specialist assigned to us.
3. Loan Closing - The loan file closed. However, our interest rate increased to 4.375 % from the initial lock of 4.125 %. The costs to extend far exceeded the benefit. First Mortgage absorbed some of the costs. Their argument was the delay was outside of their control ; the delay was caused by XXXX XXXX. We trusted First Mortgage and the title company ( XXXX XXXX XXXX ) to ensure the accuracy of the information.
4. Loan Payoff - The purpose of this loan was to refinance a loan serviced by XXXX. This should mean that the new loan amount is sufficient to pay the existing loan in full. Unfortunately, the payoff quote by XXXX did not accurately state the amount needed to payoff. The summary information that was clear and conspicuous ( at the top ) did not agree with the detail interest per diem at the bottom of the page. The closing parties relied upon the summary at the top of the page and did not reconcile. We informed the parties following the expiration of the rescission period. Unfortunately, we had to come up with an additional {$450.00}. We provided this amount on XXXX XXXX, 2015, to close the loan. Fortunately, we had adequate funds in savings.
5. Verbal Complaint - We contacted the Idaho Department of Finance to voice our frustrations with the incorrect payoff. Was provided with contact information for XXXX XXXX. We had a conversation on XXXX XXXX, 2015 where we emphasized the TIL was understated since the new loan amount did not satisfy the existing mortgage. Ultimately, XXXX XXXX committed to reimbursing us for the amount we had to pay out of pocket. As of XXXX XXXX, 2015, we have yet to receive this check. An email was sent to XXXX with no response yet. We may have used an incorrect email address.
6. First Mortgage Statement -- The first periodic mortgage statement stated a payment amount that exceeded the loan closing documents. The payment amount was overstated by {$50.00}. This was fixed ; however, no email or phone call from First Mortgage confirming the correction.
We have ran out of characters to explain further.
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| 08/26/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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I bought a house, and First Mortgage Company LLC was my servicer ( out of XXXX, OK ). They sold my loan to another company ( transfer date XXXX XXXX, XXXX ). At that time I had made a regular payment in XXXX along with an extra principal payment. I also made a regular payment in XXXX along with an extra principal payment. When I got a letter that my loan was going to be transferred, I went online to print off my info from their website. I noticed they had taken back my XXXX regular payment and extra principal payment, and they had taken back my XXXX extra principal payment. They then reapplied my XXXX payment. That meant without the XXXX extra principal payment, I was now paying less toward my principal balance and more in interest than I had originally. Then they applied my XXXX extra payment principal. They did not pay my XXXX premium ( due XXXX XXXX, XXXX ) to HUD for my PMI. They sent my XXXX PMI amount and my XXXX extra principal payment as unapplied, unspecified amounts to my new servicer. I filed a research inquiry with my new servicer about my missing extra principal payment from XXXX, the PMI payment that was never made, and my opening balance with my new servicer. The new company sent me a letter confirming that First Mortgage had not paid my PMI payment in XXXX ( which was before my loan transfer ever happened ), but that they would be sending the payment in. They figured out what the amount for the XXXX extra principal payment was for and applied it as an extra principal payment. However, they determined that the funds applied at the transfer of the loan were correct ( the amount after First Mortgage had messed with my payments ). On XXXX/XXXX/XXXX I spoke to XXXX at First Mortgage Company about the issue with the transfer balance. She said she would look into it and call me back. She called me back after speaking with XXXX and told me that my loan was now with another company and First Mortgage could no longer do anything with my loan or make corrections to it ; I would have to fix the issue with my new servicer. After trying to work with my new servicer, I was finally told my " previous lender will need to correct the payment history and send [ my current servicer ] the payment change '' before they could adjust my account accordingly. This process took a while and on XXXX/XXXX/XXXX I left a message for First Mortgage. XXXX called me back and said both my payments had been forwarded, so he would have to check with XXXX because she handled these cases ; she was out of the office, so he would call me back. He called me back and asked me to send him a scanned copy of the letter I got from my new servicer and XXXX would be handling my case. I sent a copy of the letter to him via email. I called my new servicer to alert them they would be receiving a call from First Mortgage soon about my account. I emailed XXXX back and requested he forward my email to XXXX saying that I wanted to receive a copy of my updated history once it was fixed when she sent it to my new servicer. XXXX I had not yet received any email, letter, or call from XXXX. I left a message and when she called me back she told me the new servicer would not talk to her since my account was private. I told her I called them and told them to put a note on my account saying they would be receiving a call. She then said she had sent it, but not heard back from them yet. I told her I had also not received an email and I had requested one, so if she had sent it, it did not go to me and I had called my new servicer and they had not received anything either. She said she would resend the payment history and send me a copy. I received a letter attached to a payment history where she acknowledged that the balance at transfer was inaccurate. But, my new company has still not been able to determine that the transfer balance was incorrect despite her letter.
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| 07/25/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Settlement process and costs
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Web |
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I would like to submit a complaint against XXXX XXXX at First Mortgage Company in XXXX, NM. XXXX XXXX was in charge of handling my loan on the purchase of a new home. Despite our agreement that I would make a XXXX % down payment to avoid escrow and PMI, it took XXXX XXXX over 10 tries to remove the escrow fees on the loan despite my repeated corrections and warning that she was dangerously close to missing the closing deadline.
XXXX XXXX finally informed me that their computers were unable to create the correct loan documents. She also told me that she could no longer use her email account this close to closing and had to use a colleague 's email address. This resulted in my coming to her office to sign the documents in person. This meeting occurred on XXXX XXXX. As my closing was scheduled for XXXX XXXX, this resulted in the postponement of my closing. XXXX XXXX claimed she made a mistake and misread the closing date despite my repeated reminders to her in the preceding weeks of the imminent closing deadline including my attempt to arrange a meeting with XXXX XXXX XX/XX/XXXX, which she refused.
It was only on XXXX XXXX, when XXXX XXXX finally realized that I was to close on XXXX XXXX and that she was in default of submitting the final loan numbers to me that she agreed to a face-to-face meeting. On XXXX XXXX, in her office, when she finally produced the correct figures for my loan, she told me to pre-date my signature to XXXX XXXX, since, apparently, federal law required her to have the final numbers to me three days before I closed, and she missed that deadline. I expressed uneasiness at putting a false date on the documents, but XXXX XXXX strongly intimated that I would not receive my loan if I did not falsify the signing date. My realtor, XXXX XXXX, with XXXX XXXX in XXXX, was witness to this event and indicated that if I did not get the loan at this late date, the seller would sue me for breach of contract. I felt greatly pressured, therefore, to sign the documents with the incorrect date indemnifying XXXX XXXX of negligence in missing the closing date deadline.
An additional complaint arises from not receiving the escrow written policy from XXXX XXXX. On no fewer than three separate occasions during the loan application and processing, XXXX XXXX told me she could n't correct the escrow numbers on the form due to " federal law. '' When I asked her for the citation of this law, she was suddenly able to change the forms. The final time occurred late in the afternoon on XXXX XXXX, and XXXX XXXX flat out refused to give me the New Mexico citation stating more than a XXXX % down payment was required to waive escrow. I called XXXX and was directed to a citation requiring the lending agency to send me their escrow policy, in writing. I forwarded this citation to XXXX XXXX, who finally responded on XXXX XXXX with the actual New Mexico statute. I told XXXX XXXX, in light of this statute, that I would put XXXX % down on the loan to which she replied that " their computers could n't do decimals '' and that I would have to put XXXX % down. She then said she turned this matter over to their legal department.
I finally closed on this loan on XXXX XXXX, having had it postponed twice because XXXX XXXX was unable to correctly generate the final closing numbers. I ended up dealing the Title officer, XXXX XXXX, who fixed XXXX XXXX 's mistakes and got me to closing one week late. The delayed closing resulted in increased financial outlay and a marked delay of work on my home with a variety of contractors. XXXX XXXX suggested I file a complaint with your office.
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| 12/28/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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We refinanced our home with First Mortgage Company on XXXX XXXX for {$340000.00} after using them as our prior mortgage company when we first purchased our home. All payments have been made timely and with no interruptions until XX/XX/2021. At that time payments were switched to XXXX.
We were notified in XX/XX/2021 that by XXXX XXXX of XXXX that XXXX XXXX holds the original promissory note and rights to service the mortgage. First Mortgage disputed this, but XXXX XXXX has provided documents showing otherwise. We then sought advice from an attorney that spoke with both XXXX XXXX of First Mortgage and XXXX XXXX. It is still not clear cut as to who our payments need to be made to, but First Mortgage provided no other legal documentation to prove otherwise, and it appears that XXXX does in own the note. We then began making payments to XXXX ( the XXXX XXXX chose to change to ). They agreed to keep our account current from time of payment and to fund our escrow to match what was in escrow with First Mortgage. We requested our escrow funds from First Mortgage and at first they agreed, until this past week they sent a letter stating that they would be using the escrow funds to pay for the payments missed to First Mortgage, although payments were made to XXXX ( XXXX ). We are desperately trying to resolve who to make our payments to in order to not have foreclosure or credit issues. Please advise.
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| 08/12/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
Servicemember |
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I am the seller of a {$470000.00} home. I was scheduled to close on this sale the morning of XX/XX/XXXX at XXXX XXXX. At XXXX XXXX on XX/XX/XXXX, I was informed that the buyer 's mortgage company, First Mortgage Company, was merging with XXXX XXXX, a lawsuit blocking the merger had been filed and First Mortgage Company 's funds had been frozen as a result of this lawsuit. Consequently, the closing of the sale of my home was delayed indefinitely.
I sent a letter to XXXX XXXX, the CEO of First Mortgage Company, explaining and documenting that each day my closing was delayed cost me {$160.00} in mortgage interest, property taxes, utilities and insurance. XXXX XXXX was not accepting either emails or telephone calls. I sent the letter of complaint to XXXX XXXX, the Manager of Loan Administration, who said she would forward it to XXXX XXXX I have not received any reply.
I explained in my letter to XXXX XXXX that First Mortgage Company 's merger plans notwithstanding, I should not have to bear the financial burden of their malfeasance. I had a fixed closing date, I made commitments to my creditors based on that assurance, and to have it summarily cancelled with one day 's notice and no compensation is unacceptable.
We have since closed on the property onXX/XX/XXXX, 9 days late, and I am out {$1500.00} as a result of First Mortgage 's mishandled merger.
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| 08/25/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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We have a mortgage financed with First Mortgage Company LLC on XX/XX/XXXX.
Recently we received a letter from XXXX dated XX/XX/XXXX claiming they provided the funds to XXXX and XXXX is the owner of the mortgage. XXXX also sent a notice dated XXXX XXXX stating that our loan has been transferred to XXXX XXXX XXXX due to legal issues with XXXX president.
Shortly thereafter we received a letter dated XX/XX/XXXX from XXXX refuting the XXXX claim and stating that First Mortgage is still our loan servicer.
XXXX XXXX sent us an invoice dated XX/XX/XXXX claiming that we are delinquent in the amount of {$8700.00} for the months of XXXX, XXXX and XX/XX/XXXX. We responded with proof of payments ( to XXXX ) for the aforementioned months and XXXX verbally agreed that we are current with our payments but should send our monthly payments to them.
We are caught in the middle and do not know who is the actual owner of the loan and to whom we should send our payments. We have never missed or been late with a payment and do not want our credit rating affected by issues beyond our control.
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| 04/26/2016 |
Yes |
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- Application, originator, mortgage broker
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Web |
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I currently rent a duplex located at XXXX XXXX XXXX XXXX IA XXXX. The property was sold on XXXX/XXXX/XXXX for {$180000.00}. The current owners used FHA financing and are not occupying the property. I know this because I 've been receiving their mail since XX/XX/XXXX. The mail is addressed to the current owners on record to my address which I have a lease agreement in place until XXXX XXXX. The property has XXXX addresses listed in the United States Postal Services website. XXXX and XXXX XXXX XXXX XXXX IA XXXX. I 've included a picture showing the XXXX mailboxes. I 've also included the lease agreement from the tenant at XXXX XXXX XXXX, which is month to month starting XXXX XXXX and is good through XX/XX/XXXX. XXXX and XXXX have lived at XXXX XXXX XXXX for over 5 years and will remain there until their current lease has expired XX/XX/XXXX. Simply sending someone out to the property and asking who actually lives there would clear this matter up.
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| 08/07/2015 |
Yes |
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- Application, originator, mortgage broker
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Web |
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We were trying to apply for a mortgage. Since my credit is locked they refused to use only my wifes credit and because we do n't have any recurring credit were not approved. This part was fine.
The problem is that we are staying with our kids at their house, and we told them to use our mailing address and to NOT send anything to our kids address. They ignored their own application that shows a mailing address on it. We told them we do n't use our kids address for anything, and they used it during my wifes credit check, and then also against our request they also sent their credit documents to our kids address ignoring our request to ONLY use our mailing address. Now we will start to get things mailed to our kids address against our will and promise to them to never use their address for anything.
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| 03/18/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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The mortgage is with 1st mortgage company in XXXX. XXXX XXXX is being sued now for fraud. He is or was the owner. Hes stolen our escrow and now hes used our money for county taxes else where. Im also finding out hes marked our account unpaid yet hes provided us with countless letter signed by him saying we are current. These items are on my credit report saying Im late on payments. After reading all the lawsuit articles I dont know what to do. Im scared for my home and what this may cost me. I made my payments and did my part but now that hes committed fraud to so many people Im scared something will happen to our home.
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| 02/04/2016 |
Yes |
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- Application, originator, mortgage broker
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Web |
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I currently rent a duplex located at XXXX XXXX XXXX XXXX IA XXXX. The property was sold on XXXX/XXXX/2015 for {$180000.00}. The current owners used FHA financing and are not occupying the property. I know this because I 've been receiving their mail since the begging of XXXX. The mail is addressed to the current owners on record to my address which I have a lease agreement in place until XXXX. There was also {$20000.00} given by the seller back to the current owners for new windows for the property, this was given to the current owners from the proceeds of the sale.
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| 06/06/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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Hello, I have got my loan in early 2017, and during the process I have filled out paperwork what my new mailing address should be. which was n't processed ive called and emailed to get this changed and unable to change my mailing address. any more action that would be needed from me is un warranted due to this being filled out during my loan. Please help with this abuse
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| 11/29/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan modification,collection,foreclosure
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Web |
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My name is XXXX XXXX and I am filing a complaint on First Mortgage Company due to they are not trying to assist me with keeping my home and when I ask questions they will only say they are servicing company and been giving me the run around and please can some one reach out to me
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| 10/26/2021 |
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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| 08/23/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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| 07/14/2021 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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| 10/09/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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| 09/08/2017 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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| 12/01/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
Older American |
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| 10/11/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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| 09/22/2016 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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| 04/15/2016 |
Yes |
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- Loan servicing, payments, escrow account
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Web |
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| 05/27/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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| 03/30/2015 |
Yes |
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- Loan modification,collection,foreclosure
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Fax |
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| 04/23/2014 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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| 08/19/2013 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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| 08/17/2012 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Application, originator, mortgage broker
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Web |
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