| 05/10/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
The purpose of this letter is to request a corrected Escrow Analysis Statement that does not force us to pay for lender forced insurance that was not actually in existence from XX/XX/2021 XX/XX/2021 since the lender forced insurance was purchased on XX/XX/2021, and we are not able to back date our homeowners insurance policy to XX/XX/2021 because every insurance agent says that backdating insurance policies is illegal.
BACKGROUND INFORMATION On XX/XX/2021 we forwarded a copy of our homeowners insurance policy to Hamilton Home Loans ( Hamilton ) after receiving a letter from Hamilton requesting proof of coverage. ( Email to Hamilton, attached ).
On XX/XX/2021, we received a response from Hamiltons Servicing Manager, Mr. XXXX XXXX stating that Hamilton received our current declarations page for our homeowners insurance policy and that they were updating our account. On this same date we asked whether Hamilton would not purchase insurance on our behalf and whether the notices would stop. On the following day, Mr. XXXX XXXX confirmed that the insurance would not be purchased and that notices would stop. ( Email from Hamilton, attached ).
On XX/XX/2021, we contacted Hamilton again because we received another notice in the mail stating that insurance would be purchased on our behalf. We asked, again for confirmation of the steps that needed to take place to prevent this from happening since we had already provided proof of insurance and received confirmation that our coverage was sufficient. On XX/XX/2021, Hamiltons Servicing Manager provided the following : The current homeowners insurance policy has been received and as of XX/XX/2021 the notices for placing lender placed insurance have stopped. If the letter you received is dated prior to XX/XX/2021, please disregard.
( Emails between Hamilton, attached ).
Despite all of our efforts via numerous phone calls and emails to ensure Hamilton had proof of our coverage, that our coverage was sufficient, and that Hamilton would not purchase coverage on our behalf, on XX/XX/2021, we received an email from Hamilton stating that a homeowners insurance policy was purchased on our behalf for {$5000.00}. We immediately contacted XXXXamiltons Servicing Manager MrXXXX XXXX XXXX to assist. After days of trying to contact Hamilton, Mr. XXXX, and speaking and emailing Hamilton, MrXXXX XXXX finally replied on XX/XX/XXXX with the following : You can reach the escrow department by contacting XXXX. The escrow department did confirm on Monday that they received your evidence of windstorm insurance and your loan is no longer in the lender placed insurance queue. He also stated : Customer service manager confirmed the policy was cancelled and any charges were voided.
Mr. XXXX indicated that a notice would be sent regarding the aforementioned. However, a notice was never received and the refund was never issued.
( Emails between Hamilton, attached ).
Once again, we spent several hours over several days calling Hamilton to understand what was going on. We learned that all the information provided to us was incorrect and we diligently obtained the coverage necessary and again provided it to Hamilton. Although Hamilton purchased their forced-placed insurance on XX/XX/2021, XXXX has indicated that the coverage existed since XX/XX/2021 when in fact there was no coverage dating back to XX/XX/2021. Hamilton is forcing us to pay for coverage that was not actually in place.
APPLICABLE LAW 12 CFR 1024.37 ( b ) provides that a servicer may not assess on a borrower a premium charge or fee related to force-placed insurance unless the servicer has a reasonable basis to believe that the borrower has failed to comply with the mortgage loan contracts requirement to maintain hazard insurance.
12 CFR 1024.37 ( h ) ( 1 ) provides in summary that all charges related to force-placed insurance assessed to a borrower by or through the servicer must be bona fide and reasonable.
The statute defines a bona fide and reasonable charge as a charge for a service actually performed that bears a reasonable relationship to the servicers cost of providing the service, and is not otherwise prohibited by applicable law.
APPLICATION OF LAW TO FACTS Hamilton did not have reasonable basis to believe that we had failed to comply with our mortgage contract and maintain hazard insurance. We did everything on our part to provide our proof of insurance and received in return assurance from Hamiltons Servicing Manager and other phone representatives that our insurance was sufficient, that no insurance would be purchased on our behalf and that a refund would be issued for the forced-placed insurance.
Furthermore, Hamiltons charge for force-placed insurance is not bona fide and reasonable. Hamilton purchased the lender-placed insurance on XX/XX/2021 and is forcing us to pay for coverage dating back to XX/XX/2021. This is not bona fide and not reasonable because this coverage was not actually performed or in existence from XX/XX/2021 XX/XX/2021. We attempted to purchase coverage for these dates and all insurance agents indicated that this is illegal and fraudulent.
As a result, we are requesting that Hamilton conduct a corrected Escrow Analysis Statement that does not unjustifiably force us to pay for the force-placed insurance for the dates when the insurance policy was not actually in place XXXX XX/XX/2021 XX/XX/2021 ).
|
| 04/27/2015 |
No |
|
- Application, originator, mortgage broker
|
|
Web |
|
|
A Realtor gave me the name of this lender, Contacted her In XX/XX/XXXX to find out where my credit scores had to be to apply for a USDA Loan. Because of a hit my credit took my scores had dropped. We discussed me contacting the XXXX creditors showing on my report and opening up a credit card. I worked until XX/XX/XXXX to bring them up to an acceptable level. My payment hx was good, been at my job for 11+ years. The Lender told me she did n't want to pull it until I had it at about XXXX to XXXX because it would drop about XXXX points once she pulled it. She checked with me periodically via XXXX XXXX, asking if I had looked lately and if the scores were where they needed to be. I contacted her around XX/XX/XXXX for a pre-approval. She pulled my credit while I was on the phone with her and when she seen my scores she whooped and hollered ... .they were XXXX, XXXX and XXXX. She would be using XXXX. She sent pre approval letter to my new Realtor ( The previous Realtor that referred me to this lender had health problems so she referred me to a different Realtor ) I did n't receive anything from the lender. I contacted her via text a week or so later with the price on a house I liked ... {$140000.00} ... she said the payments would be around {$930.00} per month, nothing more from her. I texted her back and asked what the interest rate was, she said it changes everyday but right now it was at 4 % and that 's about what I could expect it to be. When I told my Realtor she seemed visibly upset, said she had taken it upon herself to contact a different lender and gave her what info she knew about me ... that Lender had sent her a print out of all associated costs, monthly payment, interest percentage rate etc. It was showing 3.5 % interest ... hmmm. I called her with all of my information, over the phone, before she actually ran the numbers she told me I could possibly get 3.25 % ( first lender was at 4 % ). She pulled my credit and locked me in at 3.25 %. I 've now signed loan papers and contract on home.with a XX/XX/XXXX closing date. The first lender NEVER sent me any type of letter, document, nothing that showed payments, associated costs with loan, interest rate I would be paying ... .nothing. Just a text with monthly payment and I had to ask what the interest rate was. This .75 % difference amounts to quite a bit of money. I am a single mom of a XXXX year old daughter. I 've never received help from the father nor government assistance etc.
It is my understanding that maybe this first lender " padded '' the interest rate, adding a 1/2 to 3/4 points to what it should have been ... .maybe, maybe not. I just know that she would have charged me, over 30 years, about {$24000.00} to {$30000.00} extra which could have helped with my daughter 's college. But, I guess, she wanted more money for herself ...??
She did n't show me anything on paper whether by email, text, messenger, mail or in person. My realtor was upset by this and the fact she nor I could get any firm commitment on what interest rate I would be paying. I have a friend that works for a bank, he told me there is a " Truth in Lending '' law that forbids her to just verbally quote what she thinks the interest may be on any given day. she never once sent me any type of disclosure showing costs and such associated with the loan. By reading and studying I also found that my credit would not drop XXXX points just by her pulling it and that I could in fact shop around because the FICO score allows multiple hits for mortgage loans if within 30 days. She was untruthful about that as well, I was afraid to get a 2nd opinion because she led me to believe every hit would drop my score drastically. Once I read the laws regarding the scores I knew I could get that 2nd opinion and did, saving myself a substantial amount of money. Fortunately I was n't harmed by this woman but others may be and may have been.
|
| 09/15/2020 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
I was referred to XXXX XXXX ( NMLS # XXXX ), Branch manager of Hamilton Group Funding locating at XXXX XXXX. On XX/XX/XXXX, a first contact him via text at XXXX XXXX. After a brave phone contact, Mr. XXXX referred me to the web portal to complete an application. The application was completed for lender services only as we had a house already selected. However, as per his report the house was over value by the seller and suggested us to look for another house and introduce his wife who is realtor. XXXX family we were looking for hoses for a year, so my daughter finds out that one of the houses we were looking was still for sale. We contact the seller, and the house was available. XXXX was very funny, positive and polite. On XX/XX/XXXX, he even said the house will be 100 % sure and the interest 2.75 %. We finally set the time to meet on XXXX the second. He came to my house with his wife for realtor purpose. However, the house we selected was by owner and the seller do not accept realtors. He tried hard for us not to go for this property and even make appointments for us to go with his wife and see other options. We were clear about having the house we already want and not need for realtors ' services. At that time, he confronted us inquiring why we dont want to see houses and we explained because we already had selected the house. He asked one more time if we dont need realtor and we stated, No. However, their explanation makes us think about why the seller refuse to realtor and suspicious. We finally accepted her services. We explained XXXX about each financial detail, inquiring in my credit report and he was agreeing that it will be only in my name. Next day we contact the seller and he refused to dial with realtor. Therefore, we contact XXXX and let her know about it. She sent a message of good luck. After that situation XXXX attitude and relational, social skills changed toward us.
The process started with XXXX XXXX, so our communication with XXXX stop. Since the process start with XXXX every document any information any question, any request was fulfilled almost instantly. there was never a waiting time for longer than couple hours. I provide every information requested clear and direct. Up today you can review the information and it will be the same. The contract was signed with the seller with due date on the XX/XX/XXXX.
On XX/XX/XXXX, we received an email from XXXX advising my Husband will need to be part of the loan because the debt on my side was too high. The only debt I have on my credit is {$450.00} in the car and a credit card for {$300.00} paying {$25.00} monthly. when I asked why, I received an email from XXXX questioning why I got a car/? why I was unable to wait after buy the house? why I dont put the car in somebody else name? And a lot of questioning that make me fill very uncomfortable. So, I received an email from XXXX very rude stating Iin rush to buy a house and refuse to be showing houses, so these are the consequences and even Sayed he give up. Automatically we understood this transaction was aborted at the very moment we refuse his wife services as realtor. We see there the conflict of interest very clear. However, we provide my husband information and every documentation that was requested. However, the slow motion on the process was notable.
On XX/XX/XXXX we received an email from XXXX with 9 bullets to provide as soon as possible. verification of employment from XXXX, W2, copy of checks, things to be removed from credit reports, so we understood one more time that get the information in a record time will be a pointless because conflict of interest made this transaction avoided no matter what.. He makes us paid with the transaction the refusal to his wife services.
I can provide texts and emails upon request.
|
| 11/25/2019 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Older American |
|
Started with a debt collection letter on XX/XX/19 stating I owed {$87000.00}. XX/XX/19 debt collection letter stated I owed 3 months of mortgage payments. I called the Collection Agency XX/XX/19 and gave them the check # 's and dates paid and dates they cashed them. From what I am told, Hamilton Group Funding does not keep the mortgages and outsources them. I also had sent an {$80000.00} payment in XXXX to be applied to the principal.The new company is " XXXX '' located in Illinois. I have received several " Harassing '' phone calls from debt collectors demanding that I make payments that I have already made. I am now being told in a phone call XX/XX/19 by a supv named XXXX that I am behind 1 month. I emailed them ( XXXX ) a statement from Hamilton showing payments they received thru XXXX. On a phone call today with XXXX, I requested a payment history and phone calls and was told I need a subpoena to get my records. I am concerned that they have submitted my name to the Credit Bureau and also charging me late fees. I have copies of all the checks both front and back showing they received and cashed in my payments.I am a senior citizen and have found dealing with this company very stressful. My XXXX XXXX is off the wall. I call and ask for supervisors but they never let me talk to one.
|
| 08/12/2020 |
Yes |
|
|
|
Web |
|
|
I was the seller side of the transaction. The contract I signed with the buyer indicated I would contribute up to {$6000.00} towards closing costs. When I received settlement statement the lender applied part of the {$6000.00} towards prepaids such as taxes and insurance. These are not closing costs.
We contacted the lender, Hamilton Funding Group, and spoke with XXXX XXXX. XXXX indicated I was incorrect and proceeded to get the buyer worked up thinking I was incorrect.
XXXX injected herself in the middle of this by providing incorrect advice which caused me to pay an additional {$2600.00} in fees that I was not contractually obligated. Bethanys action as a representive of Hamilton funding caused me financial harm by her negligence and misinterpretation of the contact as prepaids are never considered a closing cost, they are prepaids of items that are not closing related ( taxes and insurance
|
| 04/08/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
|
| 11/27/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
|
| 09/07/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
|
| 07/17/2018 |
Yes |
|
|
|
Web |
|
|
|
| 06/07/2018 |
Yes |
- Mortgage
- Other type of mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Phone |
|
|
|
| 11/29/2017 |
Yes |
|
|
|
Web |
|
|
|
| 10/19/2017 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
|
| 09/20/2017 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
|
| 09/14/2016 |
Yes |
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 11/24/2015 |
No |
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 11/21/2014 |
No |
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 06/21/2013 |
Yes |
|
- Loan servicing, payments, escrow account
|
|
Postal mail |
|
|
|