MEGA CAPITAL FUNDING INC. CFPB Complaints

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2000 Latest Complaints
Date Received Timely Response Product Issue State / Zip Submitted Via Tags
08/11/2023 Yes
  • Mortgage
  • Conventional home mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • CA
  • 91762
Web Servicemember
I am currently having significant problems that have caused me and family major stress and hardship in dealing with our lender. I was off of work due to XXXX. I incurred significant less income during that time. I was off of work XX/XX/XXXX, XXXX XX/XX/XXXX. During that time my lender approved me for a Forbearance plan on XX/XX/XXXX. The Forbearance plan that was agreed upon was that no mortgage payments needed to be paid during the months of XXXX and XXXX and payments resume payments starting in XXXX ( which I did resume payments ). The missed payments of XXXX and XXXX would be put on the back end of the loan. So basically just adding two months to the loan. I was good with that agreement, and it helped me out. In XXXX the Forbearance agreement was over and I had to re-submit and do the whole process over again. This time I was not approved for the initial forbearance agreement, but I was put on a payment plan. The payment plan is an extra XXXX $ added to my monthly mortgage from XX/XX/XXXX to XX/XX/XXXX to repay only two months of mortgage. My normal payments are XXXX $ and now they asking for additional XXXX $ for almost a year. The forbearance plan in their own description says to help client get back on their feet. How does this help me get back on my feet? My current options are to pay the two months mortgage with fees ( XXXX $ ) or their crazy payment plan. The payment plan was never discussed with me. I would have never agreed to raise my mortgage XXXX $ for almost a year. There are way better options than that. I feel like I was tricked and swindled by my lender. I have tried multiple times to talk with a manger and they will not speak to me. Most of their employees ( not all ) have been extremely rude also.
03/11/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • CA
  • 91384
Web
I was in forbearance due to XXXX from XX/XX/XXXX through XX/XX/XXXX. In XXXX of XXXX, I advised my mortgage company that I wanted to be out of forbearance, and asked them to defer the outstanding loan balance to the end of my loan, to which they agreed. They told me they would process my loan and take me out of forbearance, and it could take up to 30 days. Since XX/XX/XXXX, up until today, XX/XX/XXXX, I have made 3 on-time monthly payments and I am still not out of forbearance. I have called my mortgage company at least 10-15 times in the past few months to ask why I have not been taken out of forbearance. Initially, I was told it could take 30-60 days due to a backlog of cases. When I called back after 60 days, I was told my loan would be out of forbearance within 14-28 days, and I was quoted it would be out of forbearance by the end of XX/XX/XXXX. I called back after XXXX ended since my loan has still not been taken out of forbearance. I have called back at least 6 times since then, asking as to why my loan has still not been processed, and I have been hung up on, or told there is no time frame to take my loan out of forbearance. I have asked to speak to a supervisor, and every time, the representative has denied me the opportunity to speak to a supervisor. They say they will have a supervisor call me back, but I have yet to receive a phone call from them. Representatives now tell me that there is no time frame for me to get out of forbearance. I have done my part to get out of forbearance, and they have not delivered as promised to take me out of forbearance. It is costing me the opportunity to refinance my loan.
10/04/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Struggling to pay mortgage
  • CA
  • 90805
Web
I went on an approved CARES ACT mortgage forbearance from XX/XX/XXXX until XX/XX/XXXX. I resumed making my regular mortgage payments on XX/XX/XXXX. I have been making my mortgage payments on time each month ever since. I applied for a loan modification and was approved to begin making my modified payments on XX/XX/XXXX. After XXXX modified payments I was supposed to have my loan modified no later than XX/XX/XXXX. I made all XXXX loan modified payments on time and still have not received my final loan modification documents. As of XX/XX/XXXX, the mortgage company is threatening to foreclose on my house by XX/XX/XXXX, if I do not make the lump sum payment of {$28000.00}. I have called multiple times and on each call, they act like they have no record of my loan modification. I do have a hard copy and pdf version of the loan modification that was offered and accepted by the loan servicer. I am worried that they will attempt to foreclose my property illegally. Please advise.
06/17/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 91325
Web Older American
XX/XX/2021 we sent a payment of {$1300.00} to open an escrow account to cover property tax and insurance. as of this date the account is more than two weeks from being functional. Despite several telephone conversations assuring me that the mortgage company would now be responsible for those payments our insurance policy was cancelled for non-payment. This resulted in a new policy being issued at an higher rate. Today we received a final warning letter from Mega Capital Funding that there is no proof that we have hazard insurance and they intend to purchase a policy and bill us. We have several recorded conversations in which they state that the have everything they need and the escrow account will be opened and functional by a certain date. all the promised dates have passed ( the latest was XX/XX/XXXX ). After a long ( XXXX ) recorded conversation today, the next promise is that the escrow account will be all set-up by the first week in XXXX
05/14/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 92807
Web
In XXXX of 2020 I sent in a payment to establish my escrow account. I called more than once to verify that my escrow account would be established and they said it would be. I waited for my payment amount to change and after a few months of no change I called again. They misapplied my escrow payment to my principle, when they reversed the payment they also reversed my last three mortgage payments and then sent me to collections and sent letters saying that I was in default. I called multiple times trying to get the situation sorted out. I was told that it would be fixed by XXXX, it was not. It has finally been fixed and they took the correct payment over the phone. I called to make the XXXX payment and they are refusing to take my payment. They insist that they can not take a partial payment, even though they did for XXXX. They have messed up my account and have not been helpful. I can not understand how they are able to stay in business.
03/01/2022 Yes
  • Mortgage
  • Other type of mortgage
  • Closing on a mortgage
  • CA
  • 92629
Web
I have a signed Loan Estimate disclosure document with XXXX XXXX XXXX XXXX, XXXX confirming my rate lock contract at 3.875 % is good through XX/XX/2022. Today, XX/XX/XXXX, they have issued an email to my broker saying they will no longer honor this rate and all rates for this loan product are now at 4.75 % Lock Desk XXXX XXXX XXXX XXXX, XXXX XXXX XXXX CA XXXX XXXX XXXX How this is even ethical is beyond me. If this is allowed, it takes away all confidence any consumer has with a rate lock. Allowing a lender at their own discretion to ignore any contracted rate locks can detrimentally hurt all consumers financially along with taking away the faith that these rate locks are meant to represent.
06/15/2023 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 91342
Web
08/13/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 90806
Web
04/08/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Closing on a mortgage
  • TX
  • 77584
Web
03/07/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 91367
Web
12/19/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • TX
  • 77584
Web
09/28/2018 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 91331
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