MONEY SOURCE, THE CFPB Complaints

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2000 Latest Complaints
Date Received Timely Response Product Issue State / Zip Submitted Via Tags
11/18/2021 Yes
  • Mortgage
  • Reverse mortgage
  • Trouble during payment process
  • CA
  • 92688
Web
I am filing a complaint with CFPB due to the fact that I have been misinformed and given repeated contradictory and misleading information by the Reverse Mortgage Servicer, The Money Source , Inc. ( TMS ) regarding my deceased fathers reverse mortgage account, and allowed extensions or procedures to avoid forbearance or foreclosure. It seems the misleading information may have been provided intentionally so that TMS could precipitously begin foreclosure proceedings against my fathers home, as well as adding financial damages of attorney fees and costs to the balance due on the loan. Through repeated calls and conversations with TMS from XXXX of XXXX through XX/XX/XXXX, I was led to believe that the beginning trigger date for extensions ( of up to one year ) on forbearance granted by TMS for my fathers specific account was the date of his death on XXXX XXXX, XXXX Beginning XXXX XXXX TMS representatives for the first time in my interactions with them stated the trigger date for default in my fathers account was actually XXXX of XXXX, when he was alive, however that information was not communicated in writing nor verbally during 5 separate phone calls with TMS representatives from XX/XX/XXXX through XX/XX/XXXX ( 4 calls in which my fathers specific account number was given to them, whereas in the other call I was told the TMS computers were not functioning ). The misleading information given by TMS during repeated conversations took my time and efforts in court proceedings, created immense stress for me, as well as creating damages for the estate, delaying the probate proceedings and adding to the balance of the loan in the way of monthly interest, insurances, and especially adding attorney fees for the foreclosure filing that are now being added daily to the account, which could have been avoided had I been informed truthfully about the options available and the deadlines for those and thus based my decisions accordingly regarding my fathers estate on correct information rather than falsehoods and deceit. TMS has now stated that the home will go to foreclosure and has begun adding attorney fees and additional costs, contrary to prior conversations where they advised that extensions were available through their company and through the COVID CARES Act to prevent a foreclosure status while proceeding through probate court for my fathers estate, as long as appropriate documentation was being sent to them. TMS had even repeatedly stated that extensions would be granted through their maturity department for up to one year after my fathers death, and for up to one year due to the COVID CARES Act. Appropriate documentation has repeatedly been sent by their stated deadlines, after my several documented phone calls to understand options of the heirs and repayment of this debt, and communicating verbally and with documentation to TMS my intent to purchase the family home and repay the outstanding reverse mortgage balance when the probate court process permitted. XXXX family members still occupy the family home, including children and XXXX individuals, and now unknown amounts of legal fees and costs are unnecessarily being added to the repayment of the loan of my fathers estate, while undue distress is being caused in my attempt to get clear and honest communication from TMS while grieving the loss of my father. Please see the timeline attached, as well as documentation of calls and correspondence. XX/XX/XXXX -My father passed away with no will or trust. XXXX I called The Money Source ( TMS ) and spoke with representative XXXX about my fathers death and options for repayment of my fathers reverse mortgage loan account. o I gave XXXX the account number for my fathers reverse mortgage loan from his monthly statement. o I informed her of my fathers death, and my intentions to petition the court to administer my fathers estate in Probate Court ( as there was no will and that is what is required to handle his estate and property ). o I was told XXXX would not be able to provide me anything in writing regarding options for my fathers loan to be repaid, so I typed the entire conversation to document the options. The four following options were provided verbally by XXXX : Sell property, whatever is owed is paid to reverse mortgage and remainder goes to his estate. Second option to finance the property with a lender or bank and pay off reverse mortgage balance amount. Deed in Lieu : basically giving property back to investor, if we didnt want it to go to foreclosure, if chosen someone still needs to sign. Short sale is last option if property appraised short of what is owed on loan. Also the option of an heir short sale, heirs purchase for 95 % of appraised value. o I was told that if none of the above options were chosen, then the property would be referred to foreclosure 90 days after borrowers passing. o I let her know were in process of opening Probate on the estate so that we may properly address his estate through court. o I was then told by XXXX that I could apply for a servicer extension of the loan being called due and payable within 76 days of the date of his death by sending the appropriate documents ( giving the servicer 14 days to process the documents prior to the 90-day deadline to request another extension ). o I was told the documentation needed to be mailed by 76 days after my fathers date of death ( to allow 2 weeks processing time by TMS before 90-days deadline from the date of my fathers death for the extension ) was the following : Copy of my fathers Death Certificate showing myself as the informant Letter of Intent ; a brief letter letting TMS know my intentions on paying off the loan, that I will be going through a probate court to become be the administrator of the Estate, signed and dated with my contact information Copies of the court filed petition for Administration of my fathers estate Some Proof of Effort ( either of the following ) : A Bank statement summary page showing funds to pay the loan Or : An Approval letter From a lender for funding to cover the loan My letter should include a Request for an additional 90-day extension o I was also told that I could request up to 3 additional 90-day extensions to be granted after the first 90-day period, as long as I continued to provide the requested documentation of my court petition for administration of the estate ( Letters of Administration when granted ), and proof of effort of my intentions to pay off my fathers debt ( proof of funds or lender financing approval ). o I was told I would need to submit these documents by around XX/XX/XXXX, so TMS would have 10 business days to process the documents, that the first extension would automatically be granted and my letter should include a request for the second 90 day extension. o I was told by XXXX that I would receive a phone call from someone hired by TMS to do an appraisal on the property, as was customary to do within 30 days of a borrower passing ( to date XX/XX/XXXX no one has called nor done an appraisal on the property ). o I asked about COVID extensions and relief due to hardship, and was told by XXXX that I would be granted the 6-month COVID extension with the verbal request in this phone call. I was told I still needed to apply for the other 90-day extensions through the servicer as well to protect my right to continue to apply for the further 90-day extensions. o I notified XXXX ( TMS ) about additional ( XXXX and California XXXX ) liens discovered on the home through the property taxes, and the need for property taxes to be paid. She said she would make note of that and have another department look into these, that they would do periodical searches for the property taxes due and pay them, adding the taxes to the reverse mortgage account outstanding balance. XXXX I called The Money Source ( TMS ) again and spoke with representative XXXX to confirm the necessary documentation needed to request the extensions on the loan being called due and payable due to my fathers death. o I gave XXXX my fathers TMS loan account number. o I let the XXXX know that I had filed for administration of my fathers estate, but that the assigned hearing date was in XXXX, so I needed to confirm the extension requirements. o XXXX confirmed the same documentation listed above was needed ( the list I was told in the call with XXXX at TMS in XXXX ). XXXX I submitted all requested documentation via certified mail, including : o my fathers death certificate listing me as informant o the petition to the court for authority to administer my fathers estate o a letter including my intent to repay my fathers reverse mortgage loan and purchase the home ( when it became legal to do so through probate court ) and a request for another 90-day extension on the loan being called due and payable o bank account statements showing proof of funds to cover the reverse mortgage loan XXXX I called TMS to confirm the documentation needed to communicate my progress with probate court ( being appointed as estate administrator with limited authority under the Independent Administration of Estates Act, but not receiving the court documentation yet ) and request another 90-day extension. o I spoke with XXXX at TMS who said computers were down at TMS, that they had been down for several hours and it was unknown when they would come back up or if they would be up by the end of the day ( a Friday ). o Since she was unable to look up my fathers account specifically due to the computers being down, I asked general questions referring to the information I had been given in prior phone conversations with TMS, and was told there is a hard HUD 6-month deadline requiring Letters of Administration from the Probate court in order for TMS to proceed without foreclosure on my fathers home. o I was told by XXXX that I would need to send these court LETTERS of Administration of my fathers estate along with updated proof of effort by XX/XX/XXXX ( since TMS would be closed on XX/XX/XXXX, the 6-month deadline from the date of my fathers death ). o I was also told that the COVID extensions were to prevent foreclosure. XXXX I went to the courthouse completing an urgent request for the judges signature to be expedited while I wait in the courthouse due to the eminent foreclosure on the property if I did not obtain a signed copy of the Letters of Administration of the Estate of my father and submit them to TMS before XX/XX/XXXX ( the date I was told is HUDs deadline as 6-months from the date of death of my father : XX/XX/XXXX ). XXXX I urgently called TMS again on the afternoon of Monday, XX/XX/XXXX, after returning from the court with the signed Letters of Administration , to confirm what documentation and where documents needed to be sent to request another 90-day extension by 76 days after the prior date of 90-days after my fathers death, as directed by TMS. o I spoke to XXXX in the Default Department, giving her my fathers reverse mortgage loan account number. o XXXX at TMS told me that I should request 6-months of extension this time, as I had already been granted the first 6-months when I requested an additional 90-day extension in XX/XX/XXXX. o I was told to submit proof of funds again, along with the updated Letters of Administration from probate court, with my request for a 6-month extension o TMS agent XXXX confirmed that she could see the letter of intent to pay the loan balance and the death certificate I had submitted in XXXX in the account file. o I was told I could email the documents the same day and to allow 7-10 business days for processing before I call for an update on the account. o I emailed all of the above requested documentation the same day ( XX/XX/XXXX ) to XXXX and also to XXXX which had been provided to me during my call to TMS on XX/XX/XXXX, including : A copy of the certified Letters of Administration from court dated XX/XX/XXXX A letter requesting the extension be granted for another 6-months and reaffirming my intention to repay my fathers loan balance when permitted by the probate process to do so Proof of Effort : Bank statements showing sufficient funds to payoff the loan XXXX XXXX I called TMS again and spoke to XXXX, who confirmed that the emailed documents ( Court Letters, proof of funds ) were received by the Maturity Dept. and Occupancy Dept. ( both departments emailed on XX/XX/XXXX with the letter requesting an additional extension. o She mentioned that she would email her supervisor named XXXX and have her call me back later that day or the next day to confirm I had completed all the necessary steps to communicate with the servicer my intentions and provide appropriate documentation. o I requested that all further documents and correspondence be sent to my home address rather than my fathers address, as I had been officially appointed by the court to administer my fathers estate, and had provided that documentation. XXXX updated the account to reflect my address. o I asked if I needed to send anything to HUD to meet the XXXX deadline to avoid foreclosure, and was told that TMS would XXXX forwarding the necessary documentation from what I had sent. XX/XX/XXXX - I followed up with a phone call to XXXX, as I had not received any return call from an agent or supervisor throughout the week. I spoke with agent XXXX and gave her my fathers loan account number. XXXX said that my fathers account was not eligible for any extensions and had been in default while he was still alive, and that the account was referred for foreclosure. XXXX I followed up with another phone call to TMS and spoke with XXXX XXXX with my lender on the call with me also. I audio recorded a good portion of this call. o First XXXX said a 6-month COVID extension was granted on XX/XX/XXXX, in response to the documentation I sent. o I asked when that extension would expire. I was first told that I would need to apply for another 6-month COVID extension by XX/XX/XXXX, one month before the expiration of the extension granted in XXXX that would be through XX/XX/XXXX. o Then XXXX said I would have until XX/XX/XXXX before any foreclosure proceedings would begin or a foreclosure sale date would be set. o I was then told that no more COVID extensions were being granted, at which point I mentioned the CARES Act provided that another extension could be granted as the first extension had been requested before XX/XX/XXXX. o I pointed out that I had also been providing all the necessary documentation for maturity extensions on the loan being called Due and Payable due to my fathers death because I needed to go through the probate process with my fathers estate, whereas the CARES Act does not require any documentation of hardship to be granted COVID relief. o Then XXXX said that I had requested and been granted another COVID 6-month extension on the phone call with XXXX on XX/XX/XXXX. I pointed out that was not my recollection of the conversation on XX/XX/XXXX with representative XXXX. o XXXX said that I was granted a second COVID extension through XX/XX/XXXX. o It was reiterated that I have shown good faith and sent TMS all requested documentation, and that I must go through the court system to handle the estate according to the laws and rules of the court. o I asked to receive something in writing regarding the extension, and XXXX said she would email the request to the department that takes care of that, but she could not give me a name of the department other than the Default Department, when I asked for the name of the department that handles sending something to me in writing, sh said that it is part of her department ( the Default Department ) and she would request that I be send something in writing. o XXXX said the COVID extension through XX/XX/XXXX would prevent a foreclosure sale date, and prevent a foreclosure from being filed, that the loan is in Called Due status and not in Foreclosure status, and that I would have the 6-months time preventing foreclosure to go through the court process. She also confirmed that the COVID extension through XXXX of next year would ensure that a foreclosure is not filed. o My lender inquired about verification of the payment of property taxes for XXXX, and XXXX said they still showed as delinquent in her system. o I then looked up the property taxes online through the county website which showed paid for the XXXX taxes. She then said they were paid on XX/XX/XXXX. Then she said taxes were advanced on the account on XX/XX/XXXX while looking at the transaction history on the account. o I requested a transaction history be mailed to me for my fathers account. o My lender asked about what happened with the taxes that triggered to show the account in default on the call on XX/XX/XXXX. We were told that any impound account would have been frozen anyhow when the borrower passed away. o We asked for an updated payoff statement. o I reiterated that XXXX is telling me that a first 6-month COVID extension was granted in XXXX and a second 6-month COVID extension was granted on XX/XX/XXXX which will go through XX/XX/XXXX, and I would be sent something in writing regarding that. I recapped that XXXX stated the loan is still in a Called Due status and not in a foreclosure status, and the extension granted through XX/XX/XXXX would prevent a foreclosure from being filed, that property taxes for XXXX were paid through TMS, and that I would receive a transaction history by mail, and emailing an updated payoff statement good through XX/XX/XXXX XXXX XXXX had stated that she would request the payoff and it would take 7-10 business days, and could only be granted up to 30 days from todays date of the call on XX/XX/XXXX. ) XXXX repeatedly said Youre good until XXXX of XXXX. o My lender confirmed that I have sent in all the necessary documentation and XXXX confirmed that all necessary documents have been received by TMS. o I mentioned that I was given contradictory information and XXXX apologized and said that the COVID extension is a right to be requested through XX/XX/XXXX. XX/XX/XXXX - I received an account transaction history dated XX/XX/XXXX covering transactions between XXXX. XX/XX/XXXX I received a monthly TMS account statement dated XX/XX/XXXX showing the account in a Called Due : Tax & Insurance status, the same status as in prior monthly statements viewed after my fathers death. XXXX I called TMS and spoke to XXXX in the Insurance Dept. , and gave my fathers loan account number to inquire about a letter received in XXXX about providing Hazard/Fire/Real Property Insurance for my fathers home . XXXX let me know that the lender placement of insurance would go into effect until I provided a declaration page, and the difference would be prorated for any coverage provided by the lender placed policy, and that there are no cancellation fees if it takes some time to place a policy for the estate. I began getting quotes for insurance coverage through several companies. XXXX A payoff quote was received on XX/XX/XXXX by email good through only XX/XX/XXXX. XX/XX/XXXX A second letter was received from TMS regarding placement of Hazard/Fire/Real Property Insurance. XX/XX/XXXX I paid for placement of Hazard/Fire/Real Property Insurance through XXXX XXXX for my fathers property and emailed XXXX with the declaration page of coverage naming TMS as mortgagee, also asking the Insurance Agent to fax the same day to provide TMS notice of coverage XXXX XXXX A Monthly Reverse Mortgage Statement from TMS was received at my address for the Estate dated XX/XX/XXXX, showing the Loan status as Called Due : Tax & Insurance XXXX I received Evidence of Cancellation of the lender insurance placed policy from XXXX XXXX XXXX XXXX which showed the price of the difference in days covered between XXXX, the time which I purchased the coverage from XXXX XXXX on the property. XXXX I received two separate copies from TMS XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX to my father, but sent to my address via a cover page that had my fathers name and my home address. XXXX I filed an Ex Parte petition for Administration of my fathers estate with Full Authority with under the Independent Administration of Estates Act, after hiring a paralegal to draft the appropriate documentation, as I understood this full authority would allow me to move more quickly through the probate process regarding my fathers property and repayment of his outstanding liens on the home. XXXX I received a letter addressed to my father with a cover sheet with my fathers name and my address dated XX/XX/XXXX, from XXXX XXXXXXXX XXXX which stated that they had been retained by THE MONEY SOURCE , INC. in connection with my fathers loan with TMS XXXX stating that the debt is owed to TMS and that XXXX is authorized to collect payment on your loan. XXXX I received an email from the court that my Ex Parte petition for full authority with to administer my fathers estate under the Independent Administration of Estates Act had been approved by the judge, and subsequently sent the Amended Letters to court to be signed, requesting and paying for certified copies to be sent ( court is still processing these documents and Amended Letters have not yet been received to date XX/XX/XXXX ). XX/XX/XXXX My lender and I called TMS to discuss the status of the recent correspondence received from XXXX XXXX XXXX and TMS California Homeowners Bill of Rights statements. XXXX at TMS answered the call and threatened to disconnect the call when I asked to record the call. We were transferred to XXXX who said the call was being recorded. o When inquiring about the status of my fathers account, we were told the account was referred to foreclosure but no sale date had been set. o We were then told that TMS went by a default date of XX/XX/XXXX, rather than the date of death of my father, and I was not eligible for maturity extensions. o XXXX said the COVID extension in place on the account is good until XXXX of XXXX, but this does not prevent the account from foreclosure status. o He said there was a HUD hard deadline of XX/XX/XXXX. o He said they can not sell the property while the COVID extensions are in place but that does not prevent the foreclosure process and legal fees. o XXXX got a supervisor to review the account while the lender and I were on hold, and came back to say that the status of the loan changing from Called Due to Foreclosure occurred on XX/XX/XXXX. o We were then connected to the supervisor named XXXX, who reiterated that the COVID extension expires in XXXX of XXXX and the loan is in Foreclosure status. o XXXX apologized for the misinformation provided in other calls, and said they are following HUD regulations that the loan does have to go into foreclosure status after 6-months, and that the loan went into foreclosure on XX/XX/XXXX. o She added that there will be no auction date during the COVID extension. o When asked about legal fees incurred with the foreclosure actions, she looked up that as of XX/XX/XXXX there were an additional {$840.00} of legal fees added to the account. o Another payoff quote was requested. o XXXX was asked about what can be done to fix this at this point. XXXX said that management would listen to prior calls to ensure that correct information would be provided in the future. o The need for a complaint to be filed with CFPB was mentioned. o XXXX said the legal fees are a HUD requirement and again apologized for the prior miscommunication from TMS in prior phone calls. o XXXX mentioned a letter being sent to my home address from TMS in XX/XX/XXXX regarding foreclosure ( I did not receive this, nor were they sending any correspondence to my address until XXXX of XXXX after my request on my call with XXXX on XX/XX/XXXX that TMS update in their system the address of my fathers account to reflect my home address ). o An updated payoff statement was requested again, which was said would take 7-10 business days. o Filing a CFPB Complaint was mentioned as the next step, as XXXX apologized again saying that HUD requires the legal fees and there is no way to reverse or waive them due to the misleading and incorrect information provided by TMS. XX/XX/XXXX - A Monthly Reverse Mortgage Statement from TMS was received at my address for the Estate dated XX/XX/XXXX, showing the Loan status as Refer for FCL : Tax & Insurance for the first time ( showing this status ) XXXX An updated payoff quote was received from TMS via email on XX/XX/XXXX including Attorney fees/costs totaling {$1400.00} and good for only 7 days through XX/XX/XXXX. XXXX Documentation of the timeline of events between TMS and my fathers estate were sent in a letter to TMS and XXXX XXXX XXXX from an attorney on my behalf requesting written documentation of the facts in the matter be sent to me within 15 days, for which added legal services will be paid from my fathers estate.
06/28/2020 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • NV
  • 89121
Web
THE REASON FOR THIS LETTER IS TO DEMAND A DEFINITIVE SOLUTION TO MY CASE AND TO STOP ONCE AND FOR ALL THE THREATENING LETTERS THAT I HAVE BEEN RECEIVING FROM THIS COMPANY. On XX/XX/2020 I received a letter from the TMS company in which I was welcomed and offered information such as the number of the loan that corresponds to me in reference to my property located at XXXX, XXXX XXXX, NV, XXXX That same day, XX/XX/XXXX, around XXXX XXXX, I received a phone call from a TMS employee who identified himself as XXXX, a representative of the aforementioned company whom I could contact at XXXX extension XXXX. He welcomed into the company once again and further extended his empathies and understanding about the difficult times we are living in due to the COVID-9 Pandemic, and stated that it is understandable how the loan monthly payments could be affected and delayed ; and that the company TMSs intension was to help its debtors as much as possible. The previous statement shocked me firstly because I did not consider me as one of those cases since I have been punctual about the loan monthly payments ( {$1200.00} ) without any delay nor missing due date, as I had agreed upon when I signed the contract. Consequently, I told Mr. XXXX about it and he respectively denied it while saying that the company did not receive any payment since XXXX of this year. This alarmed me and raised various flags at the same time, I was really scared about this situation. Once again, I HAVE BEEN PAYING WHAT I OWE IN FULL AND IN ITS TOTALITY IN A MONTHLY BASIS WITHOUT ANY DELAYS NOR MISSING DUE DATE. On that day, XX/XX/XXXX, I received a letter from the TMS welcoming me to the company. Thus, it is understandable that all the previous payments I have done until that date were made to the previous company, the original loan company XXXX XXXX XXXX XXXX, located at XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, XXXX, CA, XXXX, address to which I have been sending the monthly payments corresponding to the months of XXXX, XXXX, and XXXX of 2020. According to Mr. XXXX, the ownership over the loan was transferred ( bought ) by TMS to XXXX in XXXX ; something I was never notified about by any means, either written ( letter or email ) or orally ( via telephone ) Therefore, I continued sending the monthly payments to the original address ( XXXX XXXX ) as I originally agreed upon when I signed the contract. I have all the evidence ( hard evidence and in record ) that shows all the payments made to the XXXX XXXX, situation I further explains to Mr. XXXX over the phone and he replies that I have nothing to worry about, that if I have been paying what I owe, then it is up to the company to retrieve the money ( action that would take between companies and that would not affect me personally, nor my debt ) ; and that it would not be reported to any credit bureau nor entity about the alleged late payment or non-compliance in the payment ; and it was further clarified that I would start sending my monthly payments to the new company, TMS, starting XX/XX/2020, and the call came to an end with me trusting Mr. XXXX words The very next day, on XX/XX/XXXX, I received a letter from TMS notifying me that my account had been assigned to the Customer Resolution Department due to a potential or existent of delinquency as a consequence of the unrealized payments corresponding to the previous months, like not having made any payment. This situation really worried me quite a bit since I previously talked over the phone with a TMS representative about this situation, who had assured me that there would be no problem with my account. Even though, I decided to send an email on XX/XX/XXXX to the email that the previous letter addressed XXXX in which I explain the situation that had supposedly been clarified in the aforementioned telephone conversation. A few minutes after sending that email, I received a notification that it was successfully received by the TMS team, being the one and only answer I received from them, an automated response. As I waited for TMS to investigate my case and reviewed my claim and an answer in return ( which never happened ), on XX/XX/XXXX, I received a Monthly Mortgage Statement with date XX/XX/XXXX reflecting the amount owed amounting to {$3800.00} that supposedly corresponding to three months of outstanding debt or built up pending debt and with a payment deadline of XX/XX/XXXX ; a document that made me suffer a XXXX XXXX XXXX and caused me to suffer from an episode of XXXX XXXX XXXX that led my family doctor to refer me for treatment. On the following day, XX/XX/XXXX, I sent a second email strongly requesting at least an email with an answer out of courtesy and I demanded a solution to this situation. Same as the previous email, I received the confirmation email, an automated response, that the TMS company received my claim and would answer me briefly ( which also never happened ) ; on the contrary, on XX/XX/XXXX, I received once again a Monthly Mortgage Statement of the same date and same debt amount of {$3800.00} and same payment deadline of XX/XX/XXXX. So, I immediately sent another email, being my third attempt to contact TMS, which never answered back nor gave a solution to the existent situation Given the disinterest and neglect from the TMS company to find an answer or solution to the current situation that is not only inflicting loss to the companys capital, but also harming me and my family in a mental and physical manner ; I decided to take justice by my own hands and investigated the case myself in sights of finding the party responsible and a solution as soon as possible. Therefore, I contacted via phone call to the primary Broker to which I made the first administrative step in acquiring property credit, who is identified as follows : XXXX XXXX, Mortgage Loan Originator, NMLS # XXXX, XXXX XXXX XXXX XXXX XXXX, NMLS # XXXX, Cell XXXX at XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, NV XXXX, NMLS # XXXX ; who showed availability to help me and solve this problem. Afterwards, she contacted the person responsible for XXXX, conversation on record held via email, which I forwarded as a copy of several emails to TMS, which served as evidence and demonstrated that, effectively, I WAS MAKING THE MONTHLY LOAN PAYMENTS WHEN BEFORE THEY WERE DUE AND IN IT TOTALITY TO THE XXXX COMPANY WHO RECEIVED THE PAYMENTS AND CASHED THE CHECKS, even though the knew the money did not belong to them. In the response, the person from XXXX assures and confirms that the payment corresponding the month of XXXX, had already been sent to XXXX XXXX XXXX, located at XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, UT XXXX phone XXXX, and that the payment corresponding to the month of XXXX would be sent the current week. This conversation took place on XX/XX/XXXX, date on which I tried once more to contact the TMS company by sending them another email requesting their help in the matter and attaching a copy of the conversation held via email with the Loan Originator and the representative of XXXX, who in their last email proposed to reimburse the money paid the last month. Afterwards, I send an email to TMS with this proposition in hopes to receive an answer in wight to solve this situation once and for all ; once more, my efforts of contacting the TMS company were in vain as thy did not answer back. On the other hand, it can be appreciated in the answer from XXXX company that they made the debt transference since XXXX and I was never notified of it, the lack of communication and the unprofessional work of the previous companies XXXX and XXXX of not communicating properly to me, the debtor, the change of company to which payments must be made were the factors that caused this whole situation in the first place, this has been the basis of this whole situation. However, considering all the emails and all the information given to the TMS company by me, it is unacceptable the lack of seriousness and lack of action taken by said company in finding a solution As a final point of these conversations with the different companies XXXX and XXXX, it was concluded that XXXX would send the checks corresponding to the months of XXXX and XXXX paid by me and cashed by them to the TMS company. This made me think that a solution had been found and that everything would be clarified as soon as possible ; but to my surprise, when I checked the Monthly Mortgage Statement posted in the TMS application on XX/XX/XXXX, the debt amount of {$3800.00} reappears with a now payment deadline of XX/XX/XXXX. The most horrifying things about this situation is that after that, I received a THREATENING letter from TMS on XX/XX/XXXX, where it is stated that the delinquency incurred on my mortgage loan was in a serious situation ( as if they were laughing straight at me ) and that I was not only putting in danger my credit rating ( which is excellent to date ), but also could result in the loss of my home ; a statement that affected me too much in a physical and psychological level, resulting in a XXXX XXXX, XXXX, XXXX, XXXX, and lack of sleep ( XXXX ) ; symptoms started to show more frequently in myself and in my XXXXyear-old father, whom is a co-debtor and co-owner of the house we acquired through sacrifice and hopes of it being our last humble abode in where our family could shelter and be safe. That said threatening letter, estimated a debt amount of {$2500.00}, so I check once again my account in the TMA app and indeed, it shows a new Monthly Mortgage Statement which ascends to {$2500.00} with a same time limit for payment XX/XX/XXXX. Due to my poor health conditions due to the last THREATENING letter, I was not able to take any action such as writing a claim ; and after XX/XX/XXXX, I received an new letter from TMS in which I was notified that due to the late payments and as required by the law, I was given an opportunity to meet face-to-face with a representative of TMS to determine the cause behind me not making the payments, and that it would be made so through a home inspection, which would also be paid me. This was added to my monthly payment amount ( {$20.00} related to the fees of the inspection ) which also appeared in the homepage of the TMS app that stated I owed now {$1200.00} THIS SITUATION IS ALREADY CROSSING A LINE Because of me being enraged at this event, I called one more time to the number XXXX, on XX/XX/XXXX at XXXX XXXX.XXXX. This time, someone answered the call and identified himself as XXXX from the loss mitigation department. This time around, I requested for someone to translate the conversation, I request a XXXX language interpreter, so that no misunderstanding nor communication barrier/error is generated in our conversation. This phone call lasted for approximately 45 minutes, and I am hoping that it was recorded as it was said in the beginning. I explained to that person what had happened since the beginning : from the first welcoming letter, the first call, all the emails sent, all the documents and tests sent, all the research done by me and the reason why I was calling again. but since I had just received the letter notifying me of the inspection that contradictory was dated XX/XX/XXXX and we were talking on XX/XX/XXXX. This person, XXXX, perfectly understood what was happening and told me I was right to be mad at the situation and why I was making a claim. During the course of our conversation, while we were talking, he contacted other departments like Customer Resolution to suspend the inspection and Accounting Department eliminate the charges of the inspection fee by understanding that it had no reason to be and that it was inappropriate. While we were talking, I realized that at that precise moment, the emails that I had been sending for the previous month were being reviewed for the first time evidencing the lack of interest and professionalism on the part of TMS in finding a solution to this problem. He stated, this situation was unprecedent and even promised to convey this situation to the Head of the Department of loss mitigation in sights to find a solution to this situation and he promise that I would not be further tormented, would no longer be bothered nor threatened again by any means. This person reviewed the emails that I have been sending that contain all the information of the previous companies, both XXXX and XXXX, with the details of the responsible parties data, their names, emails, addresses and telephone numbers, loans numbers and he congratulates me on the effort I made in the search of a solution since I am the most affected by this problem. He further recognized that I have been thoroughly keeping my part of the contract ( and more ), that is to make the monthly payments before they were due and in their totality. I am proud of doing the job that should have been done by these companies and their employees. It is ironic that even after the conversation ended with all the recognition that I have been keeping my part of the contract as the one and only responsible party, and that the only thing to settle should be handled between companies ( to demand and request the money respectively ) and that I should not be affected at all, I AM THE ONE BEING AFFECTED when at the very next day on XX/XX/XXXX, I receive once again a letter from TMS where it is reiterated about the delinquent situation in which I am in because of the late payments Currently, the homepage of the TMS app shows a next payment amount of {$1300.00}, since ( if done the math ) it is pretended to show the original payment and a late fee of {$41.00} ; fee that I AM NOT WILLING TO PAY NOR AM I GOING TO PAY since I HAVE DONE NOTHING BUT TO PAY BEFORE IT IS DUE AND IN ITS ENTIRETY. As a way of clarification, I would like to add and explain the way in which TMS has been allocating payments : On XX/XX/2020, XXXX made the transference of the mortgage loan to TMS, receiving the escrow amount of {$280.00} and posted on XX/XX/XXXX XXXX transfer of which I had no knowledge ) In XX/XX/2020, XXXX sent the monthly mortgage payment that I made corresponding to the month of XXXX to TMS with an amount of {$1200.00} and TMS posted as XX/XX/2020 payment The payment corresponding to the month of XXXX, HAS YET TO BE SENT to TMS by XXXX, payment that I made on XX/XX/2020 to XXXX On XX/XX/2020, TMS received the first payment made by me corresponding to the month of XXXX ; but instead, it was assigned to the date of XX/XX/XXXXwith an amount of {$1200.00}. Once again, there is a missing payment yet to be sent by XXXX On XX/XX/2020, TMS received the second payment made by me corresponding to the month of XXXX ; but instead, it was assigned to the date of XX/XX/2020 with an amount of {$1200.00}. On XX/XX/2020, in TMS XXXX XXXX XXXX reflects the next amount to pay of {$1300.00} which include a {$41.00} late fees with a due date of XX/XX/XXXX as it would supposedly correspond to the payment for the month of XXXX, payment that I already made Therefore, TMS is assigning the payment of latter months to the previous months to fill up the gap made by a missing payment ( corresponding to the month of XXXX XXXX that should be made by XXXX. Thus, I have been charged with a fee instead of TMS demanding XXXX to pay the money that they owe. Once again, it is easier for TMS to coerce their customers and a civil resident of the United States than to do their job correctly and properly. I am not willing to pay the late fee as I have not even once break nor made a breach in the contract that I originally signed My biggest claim is that for TMS because it seems that this company prefer to intrude on their customers life and violate their right to privacy, well-being, mental peace, and security as protected by the Constitution and State Law. It is easier to harass and threaten my person than to establish contact and claim the money from other companies that is INDEBTED to them, despite being fully aware that it is not my fault or responsibility but that of the staff of their company that does not carry out the work that corresponds to them, in addition to which I gave them all the possible and necessary information to simply solve this case but they are not in the least bit of interest, it is simple bureaucratism and abuse of power against a civilian I have all the existing documentation and evidence of my correct actions and compliance with what has been agreed. I refuse to pay more than agreed or any late payment because I have not incurred any List of Documents 1. TMS welcome letter XX/XX/2020 ( with a note from my handwriting with the details of the person with whom I had the first phone call ) 2. TMS letter XX/XX/2020 ( my mortgage account was assigned to the Customer Resolution Department due to delinquency ) 3. First email send to TMS by me XX/XX/2020 ( where I mention and attached all the supporting documents of all the payments made ) I STILL HAVEN'T RECEIVED AN ANSWER 4. Copy of the Check # XXXX issued to XXXX XX/XX/2020 ( for the amount of {$1200.00} corresponding to XXXX monthly payment and cashed by XXXX XXXX 5. Copy of the Check # XXXX issued to XXXX XX/XX/2020 ( for the amount of {$1200.00} corresponding to XXXX monthly payment and cashed by XXXX ) 6. Monthly Mortgage XXXX dated XX/XX/2020 ( with the incredible amount to pay of {$3800.00} ) 7. Second email send to TMS by me XX/XX/2020 ( where I request help finding a solution because this situation is causing health problems to me and my XXXX old years old father ) I STILL HAVEN'T RECEIVED AN ANSWER 8. Monthly Mortgage Statement dated XX/XX/2020 ( again with the incredible amount to pay of {$3800.00} ) 9. Third email send to TMS by me XX/XX/2020 ( where I mention and attached all the supporting documents of all the payments made ) I STILL HAVEN'T RECEIVED AN ANSWER 10. Fourth email send to TMS by me XX/XX/2020 XXXX XX/XX/XXXX( where I fast-forward the emails between the Mortgage Loan Originator and XXXX representative who claims to have sent the XXXX payment pending the XXXX payment to be sent ) I STILL HAVEN'T RECEIVED AN ANSWER 11. Fifth email send to TMS by me XX/XX/2020 XXXX XX/XX/XXXX( where I fast-forward the emails between the Mortgage Loan Originator and XXXX representative who suggests refund the payment to me ) I STILL HAVEN'T RECEIVED AN ANSWER 12. Sixth email send to TMS by me XX/XX/2020 ( where I fast-forward the emails between the Mortgage Loan Originator and XXXX and XXXX representatives with the final resolution that XXXX will send the checks to TMS ) I STILL HAVEN'T RECEIVED AN ANSWER 13. Copy of the Check # XXXX issued to TMS XX/XX/2020 ( for the amount of {$1200.00} corresponding to XXXX monthly payment and cashed by TMS ) 14. Monthly Mortgage Statement dated XX/XX/2020 ( with the incredible increase amount to pay of {$3800.00} ) 15. TMS THREATENING letter XX/XX/2020 ( where it is stated that the delinquency incurred on my mortgage loan was in a serious situation and that I was not only putting in danger my credit rating but also could result in the loss of my home ) 16. Monthly Mortgage Statement dated XX/XX/2020 ( now with the amount of {$2500.00} ) 17. TMS letter XX/XX/2020 ( received on XX/XX/XXXX ) ( advising about an inspection of my property due to delinquency and making me responsible for payment of a fee for this service ) ( with a note from my handwriting with the details of the person with whom I had the phone call ) 18. TMS letter XX/XX/2020 XXXX my mortgage account was assigned to the Customer XXXX Department due to delinquency again ) 19. Monthly Mortgage XXXX dated XX/XX/2020 ( again with the amount of {$2500.00} ) 20. Copy of the Check # XXXX issued to TMS XX/XX/2020 ( for the amount of {$1200.00} corresponding to XXXX monthly payment and cashed by TMS ) 21. Monthly Mortgage Statement dated XX/XX/2020 ( with the changing amount of {$2500.00} ) 22. Monthly Mortgage Statement dated XX/XX/2020 ( with the again changing amount of {$2500.00} ) 23. Screen capture copy of the TMS app home page on XX/XX/2020 XXXX reflecting the next amount to pay of {$1300.00} which include a {$41.00} late fees ) I AM NOT WILLING TO PAY NOR AM I GOING TO PAY 24. Screen capture copy of the TMS app transaction history on XX/XX/2020 ( reflecting the accommodation of the payments made )
11/30/2021 Yes
  • Mortgage
  • Other type of mortgage
  • Struggling to pay mortgage
  • TX
  • 75068
Web
I want to bring this complaint against our mortgage loan servicer, The MONEY SOURCE ( will refer to them as TMS in this correspondence ) for deliberately pushing our loan to default following our forbearance period. I obtained a USDA loan in XX/XX/XXXX for our new home at the time. Due to the XXXX, XXXX pandemic, we applied for and entered into forbearance in XX/XX/XXXX. Before we did that, we asked what options would be available to us at the end of forbearance as we would not be able to afford to make a bulk payment for the total amount of time we would be in forbearance. The TMS associate assured us that we would have different options at the time of repayment and would not have to pay the total amount at once if we couldn't make that payment. After a review of our account, they told us we had options we would qualify for such as Term Extension and Loan Modification. We were approved for an initial 3 months. Getting close to the 3-month period, we called to extend the forbearance. Again, we asked about our options at the end of our forbearance and were again reassured that we would qualify for their programs. Ultimately, we extended our forbearance, with the most recent extension to expire in XX/XX/XXXX. On XX/XX/XXXX, TMS sent a reminder letter alerting us to the end of the forbearance, with instructions on what steps to take such as calling them to discuss what our options ( Attachment XXXX ). As we worked to get our finances together to the point where we were able to resume our regular monthly payment, we called TMS on XX/XX/XXXX to inform them we were ready to resume payments and to give us options available to us in order to smoothly transition to resuming our payments. To buy us more time, I asked for a one month extension of forbearance to give them time to process any paperwork needed for us to get on a payment program since the rep informed me we had up to two months of forbearance left if we needed to use it. Having heard more about the Term Extension, we asked for that option. The TMS representative instead asked me to hold while she reviewed my account. After reviewing my account, she offered us the Loan Modification option stating that was the best option for us and we qualified for that option. After asking about what it entailed, she said we will receive the terms and all we had to do is sign it and return it if we were okay with the terms. She said it would take about two weeks to get the paperwork in the mail, and shortly afterwards it would be finalized. She told me this process would offer the protection, as with the forbearance, from negative credit reporting, defaulting, etc. I insisted on getting that extra month of forbearance just to give us some cushion, but obviously we came to find out that she did not extend our forbearance. On the same day XX/XX/XXXX, after the call, we received an email indicating that a Loss Mitigation Application had been received ( I assumed this is the loan modification as she stated ), and that Within 30 days or less from XX/XX/XXXX, you will be notified in writing of your loss mitigation review and the outcome, the letter stated ( Please see Attachment XXXX ). This letter or notification never came. After waiting for several weeks and not hearing back from TMS, nor receiving any paperwork in the mail, I called TMS in XXXX to inquire about the status of the application. I was told that it was still under review and that I was still protected and should not worry about anything. The representative, a male, indicated that it does take weeks to months to get the process through and to expect it could take till XXXX to finalize things. As we grew weary of waiting, on XX/XX/XXXX, we called TMS again to find out the status of the application. Again, we were reassured that everything was fine, and the application was still under review, and we would be notified. It is worth noting again that contrary to TMS letter dated XX/XX/XXXX ( attachment XXXX ), TMS NEVER sent any written notice regarding this application or anything else. Sometime during the first week in XX/XX/XXXX, we received a letter from TMS stating that we have been reassigned a customer ally, XXXX XXXX, who would serve as a single point of contact for the account ( Attachment XXXX ). On or around XX/XX/XXXX, on a call with XXXX XXXX ( the first since her assignment as customer ally ), XXXX XXXXsked about our account, and I did inform her that we were still waiting to here from them on the progress of the Loan Modification application. On review of the account, XXXX ( XXXX XXXX XXXX noted that she did see that an application had been started, however nothing had been done about it by the representative who put the application together. She then asked about the TMS letter dates XX/XX/XXXX ( in reference to Attachment XXXX ), if we had been requested to send in any documents, and if we had sent it any documents as the letter purports. I stated that we had not received any request for documents and never sent any documents to TMS as nothing had been requested. The Loan Modification application was a no document application they said. She stated she didnt see anything pointing to why that letter was sent. She informed me that she was going to go ahead and submit or escalate the Loan Modification application as nothing had been done past when the application was filled out on XX/XX/XXXX, and she would get back to me once it had gone through. On XX/XX/XXXX, I received a credit score alert from XXXX stating that my credit score had decreased. On logging in, to my surprise and pain, I realized that TMS had erroneously reporting me as being 120+ days late on my payments, dropping my credit score by XXXX points instantly ( Note, I had been in forbearance and had called for both a one month extension while they process the loan modification application ). I called TMS to speak with my customer ally and was told she was not available, but someone else could help. I declined as I wanted to keep this issue narrowed down to XXXX person as they had asserted in their customer ally reassignment letter. I got a call back on Monday, XX/XX/XXXX from a TMS representative, XXXX. I informed her about what has been transpiring since XXXX and that we were yet to hear back from them ( TMS ), while being reassured each time we called that the application was still under review, still protected from negative credit reporting, and that we should wait to hear from TMS. I pointed out their error in reporting the incorrect information to the credit bureaus. Also, she was informed of my conversation with XXXX XXXX. XXXX become combative and defensive, claiming that while they may have handled my case poorly, they were not going to remove the negative credit reporting regardless of the damage they had done. She then went on to tell me she was sorry if I was misinformed ( about what? I don't know ) and that the best she can do for 'me ' is to offer coaching to their employees. I was left aghast. Best she could do for me is coach their staff? That didn't make sense. She said the information reported to the credit bureaus would stay on even though she acknowledged that TMS was not offering me information or communicating regarding the application. I asked to speak to XXXX XXXX again and was told by XXXX she was not available, and even if she was, she would stick to the TMS version of events as told by XXXX. When I asked to know exactly what their policies are as they were not reflective of the federal law protective of USDA loans, XXXX said they go by their investors guidelines and what was in their best interest. The call ended with no resolution. The following day, Tuesday XX/XX/XXXX, I called TMS again and first spoke to a TMS representative, XXXX. After going through the cycle of events once again, XXXX informed me that after reviewing my account, there is no evidence any documents/package were requested from me or received from me contrary to the letter dated XX/XX/XXXX ( Attachment XXXX ). XXXX ( XXXX ) told me the credit issues will be fixed once the loan modification application had been resolved. While we were talking, the line went off. I called back immediately, and this time was connected to a different representative, XXXX. After another round of back and forth, I asked to know what exactly happened with the purported Loan Modification application and why I wasnt afforded the Term Extension I had requested in the first place ( an option I was told I qualified for as well during our many calls to TMS while in forbearance. XXXX, while not able to answer that question, informed me that the Loan Modification application was denied on XX/XX/XXXX ; [ please note as stated earlier, during our call to TMS on same date/day XX/XX/XXXX, the representative assured us that the application was still under review, and we were protected and would hear from them as soon as it was completed we never heard from TMS. On subsequent calls, we were still being reassured the application was still under review and we were fine. Also, please note as stated earlier, XXXX XXXX on XX/XX/XXXX, also after reviewing this account NEVER said anything about the application being denied. She instead stated that nothing had been done with the application since after it was filed XX/XX/XXXX. ] on asking XXXX what the basis of denial was from, she stated we missed a payment prior to the pandemic in XX/XX/XXXX. I promptly told her that was inaccurate as we have made payments on time each month. After reviewing our account further, she then noted her mistake as she found the payment we made for XX/XX/XXXX. She then said it was the XX/XX/XXXX payment that was late. Again, I refuted that, but she stuck to that, saying their system showed payment was made a day past the deadline which again is inaccurate. TMS for one had always reported our payments as on-time as they were on time. So, this was something they just now propped up. Please note Attachment XXXX TMS page on my XXXX credit bureau showing on-time payment reports for the months prior to starting forbearance. XXXX, after acknowledging they ( TMS ) made mistakes, said she would escalate my Loan Modification application to a Loss Mitigation supervisor, and well just have to wait and see what the outcome would be. I asked to make my monthly payment while they resolve this issue so that they dont find another reason to report falsely on my credit. XXXX then told me that they would not accept partial payments, and I would need to pay {$35000.00} ( XXXX XXXX XXXX, XXXX XXXX Dollars ) of they would keep reporting it as delinquent. This was shocking to me as this was the very same reason federal law protecting USDA loans stipulated that borrower can not be made to pay the entire amount owed during forbearance at once, hence options should be made available such as the Term Extension, Loan Modification, etc. For me, this was TMS plot to cause us to default even though I called to inform them of my intent to resume payment, and they deliberately caused us to lose our forbearance protection ( by their own admittance of mistakes, errors, and/or inactions ). During this call, again the line went off. I called back and this time spoke to XXXX, a TMS representative. Again, I asked to make my monthly payment while they work on resolving this issue and she stated I would have to make a payment of {$35000.00}. This call ended on that note. On XX/XX/XXXX, I called to check on the status of the Loan Modification escalation. I asked to speak with my customer ally. Again, I was told she would not be available for me to talk to. I was connected to XXXX with whom I had spoken the day before. She ( XXXX ) informed me that the escalation was still pending. I probed about the criteria for eligibility for Loan Modification. I asked what their guidelines were and if she could share those with me. XXXX informed me that they go by their investors guidelines and government guidelines. I asked to know what government guideline suggests using payment history to determine eligibility for this program and what it states. She or TMS were unable to offer any government guideline to this effect as it really doesnt exist. At the moment, we are awaiting what decision they intend to take on the pending application. It is our believe this is a deliberate scheme by TMS to cause people to default/report negatively on credit bureaus to make it impossible for customers to get approved elsewhere and walk away from TMS. Also, per the repeated claims by TMS representatives of working in the best interest of their investors, coupled with their brazen tactics, I believe TMS mission is to ultimately foreclose and obtain our property. This assertion follows research I have undertaken considering what has transpired, in addition to TMS actions following our communication of intent to resume payments, and TMS ' false assurance of our qualification for the Loan Modification program following a thorough review of my account. Please find similar tactics by TMS as reported by other customers, a few we have attached here for your reference ( Attachments XXXX, and XXXX ). Most are posted on the Better Business Bureau site ( which is where our attachments were culled from ). All we asked is for TMS to do the right thing and erase their erroneous report from my credit files, offer the cooperation required by the laws protecting USDA loans, and have us commence making our monthly payments related to whatever program we agree upon vis -- vis Loan Modification or Term Extension. Please help us resolve this as we have worked hard so hard to maintain our property as you can note on Attachment XXXX. Thank you sincerely for your prompt and judicious assistance in resolving this matter. Sincerely,
03/11/2022 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • CA
  • 92507
Web Servicemember
I XXXX in late XXXX and had requested the California Military Families Financial Relief Act ( CMFFRA ) be enacted for a XXXX deferment on my mortgage. The request was submitted on XXXX XX/XX/XXXX with my Lender, The Money Source. Please see emailed request : Dear Sir/Maam, Pursuant to the California Military Families Financial Relief Act, section XXXX ( b ) ( XXXX ), this letter is my formal written request for deferment of financial obligation for the above-referenced account ( Loan # XXXXXX ). I have been ordered to XXXX XXXX with the United States XXXX XXXX from XX/XX/XXXX, through XX/XX/XXXX. These are XXXX XXXX Orders. The California Military Families XXXX XXXX XXXX establishes that a " XXXX who is called to XXXX XXXX may defer payments '' for the period of a service members military orders plus 60 days but not to exceed 180 days overall. The length of these orders is 131 days, which qualifies the service member for 180 days of financial deferment.Under the California XXXX XXXX XXXX XXXX XXXX, during the period specified in Section XXXX, the XXXX may defer the payment of principal and interest on the specified obligations. No penalties shall be imposed on the nonpayment of principal or interest during this period. No interest shall be charged or accumulated on the principal or interest on which the payment was delayed. No foreclosure or repossession of property on which payment has been deferred shall take place during the period specified in Section XXXX. The lender shall extend the term of the obligation by the number of months the obligation was deferred. I am hereby requesting deferment of XX/XX/XXXX through XX/XX/XXXX payments, resuming my payment schedule with the XX/XX/XXXX payment. I have attached a PDF of this letter as well as a PDF of my orders to this email. Please elevate this request as necessary. If you have any questions or need any additional information, please contact me at the above address, via my mobile at XXXX, or via email at XXXX Since submitting my official request for the CMFFRA on XXXX XX/XX/XXXX, I have received every excuse as to why the XXXX loan deferment has not been applied to my account, including ; the request was not submitted, mistakenlyrequested SCRA instead of XXXX, the request was submitted and our attorneys are reviewing, your request is with loss mitigation, your request is with special loans, or you are being placed on a forbearance until XX/XX/XXXX, then special loans will have 30 days to complete the deferment, so youre just in a holding pattern for now. Each time I ask to speak to a supervisor, I am told a supervisor call me in XXXX hours, and most of the time I never get a callback, or I am told everything is fine and my account is in good standing until XX/XX/XXXX until my deferment processes kick in. I was told months ago I was assigned a customer Ally who is handling my case, which I have in writing from XXXX, but I was informed on XX/XX/XXXX that I dont have an ally anymore. Which explains why I was leaving voicemails and receiving no callbacks. I have spent countless hours on the phone with XXXX, on hold for almost two hours on multiple occasions, just to have no resolutions. I have been proactive from the start and have fulfilled all of their requests while having followed up numerous times too have nothing changed on their end. Since returning from my XXXX I have been threatened/harassed by my lender that they are going to foreclose on my home via certified mail, called by debt collectors, and they have even reported me to the credit bureau , dropping my credit score XXXX points. However, every time I talk to their customer support they tell me my account is in good standing until XX/XX/XXXX and there is nothing to worry about while special loans is working on your deferment ( as documented on my call on XX/XX/XXXX to a customer care supervisor ). Since my initial request on XX/XX/XXXX, I have made multiple calls to check on the status of my deferment. I submitted all initial documentation that was requested of me ; a formal written request and military orders. There was absolutely no movement on my deferment request until XX/XX/XXXX. On XX/XX/XXXX, I requested a status check on ticket # XXXX with special loans and was told there were no updates. During that phone call, I stated if this is not resolved I will be seeking legal advice. Later that day, on XX/XX/XXXX, Special Loans made a comment on my account, stating that they needed documents showing, Reduced employment income statements, and referenced Chapter XXXX, section XXXX : If required by a financial institution, proof that the reservists employer does not provide continuing income to the XXXX while the XXXX is on active military duty, including the reservists military pay, of more than XXXX percent of the reservists monthly salary and wage income earned before the call to XXXX XXXX. ( https : //leginfo.legislature.ca.gov/faces/codes_displayText.xhtml? lawCode=MVC & XXXX & title= & part= & chapter=3. & article ) However, Section XXXX states : ( a ) Any person who receives a good faith request from a service member for relief pursuant to this chapter and who believes the request is incomplete or otherwise not legally sufficient, or that the service member is not entitled to the relief requested, shall, within 30 days of the request, provide the service member with a written response acknowledging the request, setting forth the persons basis for believing or asserting that the request is incomplete or not legally sufficient, or that the service member is not entitled to the relief requested. The response shall clearly identify the specific information or materials that are missing from the request and that would be required to grant the relief requested, and provide contact information, including a mailing address and telephone number, which the service member can use to contact the person. ( b ) If the person fails to make such a response in the timeframe set forth in this section, the person waives any objection to the request, and the servicemember shall be entitled to the relief requested. It took XXXX 220 days after my initial request for me to hear anything back from special loans. This would be 32 days after my deferment should have ended. Per sections XXXX ( a ) and ( b ), XXXX had 30 days to request supporting documentation from me. They also had 30 days to provide me with a written response acknowledging the request, to which I never received a request for further documentation, nor any feedback from XXXX concerning my deferment request. Even after having called multiple times to check on the status. As outlined in XXXX, Section XXXX, XXXX waived their right to object to my request and I should have to be entitled to the relief requested. It has been 8 months and that relief has still not been granted. Since then, XXXX has informed me that since my forbearance ended on XX/XX/XXXX, I lost all credit reporting protection. This is the forbearance that I questioned multiple times to XXXX customer service employees, as I never requested a forbearance and didnt understand why I was placed on a forbearance, as opposed to the XXXX deferment I requested. On XX/XX/XXXX, I spoke to a customer care team member who elevated my ticket # XXXX to a supervisor. The supervisor called me on 3 XXXX and she informed me special loans was working my case with the suspense of XXXX XXXX and that my loan was in Good Standing until XX/XX/XXXX, so there was no reason to worry about it. I requested an elevation to talk to someone above her, but I received no call back from leadership. She stated she would call me back if anything had changed on my account- no callbacks have been made from her. On XX/XX/XXXX, XXXX reported me to the credit bureau for the month of XXXX, stating I was 180 days delinquent. No one ever called me to inform me that I would be reported to the credit bureau. I had never heard anything other than, XXXX worry, your account is in good standing until XX/XX/XXXX. I called XXXX on XX/XX/XXXX to request my credit reporting be fixed. When I talked to a customer ally on XX/XX/XXXX, I was informed that XXXX denied redacting my credit reporting that dropped my credit XXXX points, stating that it was accurate because I didnt pay my home mortgage for over 180 days. However, it the deferral had been completed in a timely manner, this would not be the case. I requested a supervisor call me to discuss my deferral and my credit reporting to be fixed. On XX/XX/XXXX, a supervisor from customer ally called to inform me that my credit reporting for the month of XXXX, which was submitted in XXXX, dropped my credit score XXXX points, because XXXX believed I was XXXX delinquent on my mortgage payment, would not be rescinded. I asked her if my credit would be reported to show I was never late on payment after the deferment goes through and she said, No, deferments are not credit protected. Thus, XXXX is stating to me, that they will not fix my credit reporting due to their own negligence in handling my XXXX deferment in accordance with CHAPTER XXXX. The California Military Families XXXX XXXX XXXX [ XXXX - XXXX ]. From the supervisor I talked to, this decision was made by XXXX XXXX XXXX of XXXX XXXX, XXXX. I was also informed by the supervisor, as she went through my call history with XXXX that they put in my request for CMFFRA on XX/XX/XXXX. This is 8 days after my original request. She stated that my home was put into forbearance in XX/XX/XXXX, which was never explained to me why, other than, the forbearance is a place holder until the deferment goes through. She then stated that there was a new request made for XXXX on XX/XX/XXXX, which is what special loans is now trying to say was my request date. However, this is preposterous as there are months of documentation of my requests for XXXX since XXXX XX/XX/XXXX. On XX/XX/XXXX a debt collector from XXXX called me to collect a debt and I informed her about my request for the CMFFRA. After XXXX minutes on the phone with her placing me on hold to talk to a supervisor, I was hung up on and they never called me back with a resolution. I have been pushed around by XXXX for over 8 months with no resolution. Due to their negligence, my perfect XXXX XXXX has been severely damaged and they are unwilling to make the proper corrections to have it fixed. I feel the money source is a predatory company and that they were choosing to ignore my request as a service member to enact the XXXX during my military XXXX overseas, in hopes that I would continue to pay my mortgage sans deferment. I am grateful there are laws that help protect me as a service member and feel bad for those who arent protected from this company 's careless professional practices. I am requesting that my deferment be processed as it should have been last year. I am also requesting XXXX to report to the credit bureaus that I was not derelict on my loan payments while providing me a copy of the statement. I appreciate all of your help in this matter. All supporting documents are attached and I can provide a full phone call log upon request.
11/28/2018 Yes
  • Mortgage
  • VA mortgage
  • Struggling to pay mortgage
  • CO
  • 80241
Web Servicemember
Dear Sir, or Madam : I am writing this to briefly summarize my experience with The Money Source ( TMS ), the loan servicer handling my mortgage and foreclosed on XX/XX/XXXX of this year. My loan originated in XX/XX/XXXX. It was a VA loan. I had made all of the payments on time up until XX/XX/XXXX of the following year, when an unexpected legal matter ( divorce petition ) threatened my ability to maintain making payments in a timely manner. This led to me preemptively reaching out to seek help. I was advised that I would not be able to qualify for any sort of Borrowers Assistance because I was not current and not at risk of default and that certain considerations would not be available until I was at least 120 days past due. Long story short, I stopped paying my mortgage. I could not afford to with the temporary hardship. This continued to be the case until I eventually did become past due more than 120 days. I was sent a formal notice of default and contacted The Money Source to reach out again regarding assistance in XX/XX/XXXX. I submitted a Borrowers Assistance package but was initially denied any considerations due to not having made enough qualifying payments on the loan. It was suggested I consider options for selling the home to avoid foreclosure, and so I did just that. I was still in the midst of financial hardship and did not see any other alternatives. Although marketing the home did yield a few offers, none were able to close. At this point, I was resigned to the fact that I would lose the home and it was just a matter of time. All of the aforementioned information is an abbreviated preamble to the meat of the issue, and leads up to the reason for my formal complaint. My hope is that it provides some context for what followed. In XX/XX/XXXX, I filed a Chapter XXXX bankruptcy as a last-ditch effort to save my home. It was basically two days before the scheduled sale date. Unfortunately, the bankruptcy was ultimately not successful and was dismissed in XX/XX/XXXX after missed payments due to another brief hardship ( father passed, funeral expenses, no life insurance ). Anyway, because I remained employed, had regained financial stability and wanted to stay in my home and make the obligatory payments, I wanted to see if the VA could help. It was, after all a VA loan. In researching what else I could do, I found that the VA offers certain loss mitigation guidelines and foreclosure protections to loan servicers ( i.e. Streamline Modifications, Compromise Sales, DIL of Foreclosure, Loan Refunding, etc. ). I only found this out by reaching out directly to my local VA technician. He said that he would reach out to my servicer on my behalf. I also attempted again to engage my lender about Loss Mitigation options, especially since the bankruptcy, they claimed, initially prevented them from reaching out to me about said options, but no longer applied. They sent out a Borrowers Assistance package in XX/XX/XXXX, detailing the option of an FHA HAMP Trial Period Plan. Obviously seeking ANY option granted to me, I submitted the information they requested, and they acknowledged my submission of documents. Please see attached for the terms of the TPP. My first payment would be due by the end of XX/XX/XXXX. I proceeded to make that payment. I followed up with TMS twice in XX/XX/XXXX ( on XX/XX/XXXX and on XX/XX/XXXX ) advising them that I made payments to the account and confirming there were no issues with said payments. I was assured that the payments posted and that the TPP would remain valid and in effect. On XX/XX/XXXX, I received an outbound call from TMS. It was a different representative than the one I originally had been assigned, going by the name of XXXX XXXX XXXX, it had been XXXX XXXX who was my point of contact. XXXX called me to ensure that I would still be making the second TPP payment by the end of the XX/XX/XXXX as it stipulated. I advised her that I would. She also mentioned that I would need to make an additional payment of XXXX cents as the previously scheduled payment was underpaid by that amount. I told her I was not aware of the deficiency but would take care of it. She said it was not an issue, but that I would need to be especially careful to make sure I made the XX/XX/XXXX payment on time and for the full amount or they would not be able to close on the loan modification. I assured her that it wouldnt be a problem. She also mentioned something about a first lien on the property that I need to pay as well. Im not sure what shes talking about, but the way she explains it, my HOA has a lien for an outstanding balance of XXXX or so dollars that I need to pay ASAP so that they can close my refinance. I tell her that Im not immediately in position to make that payment and ask what that means for my Trial Payment Plan. She says that the lien being satisfied takes priority over making the next and last payment for XX/XX/XXXX, and to take care of that first. She can just extend or redo another TPP to start it over, but that I MUST make the XXXX payment to my HOA first. I tell her that I can do this, but probably not till the next time I get paid in the middle of XX/XX/XXXX. So anyway, I make the payment on XX/XX/XXXX for XXXX. This covered the XXXX cents deficiency from the previous month plus an additional XXXX dollars. Fast forward to XX/XX/XXXX. I come home and check my mail to find that I have a letter from TMS dated XX/XX/XXXX ( see attached ), that indicates that my Loss Mitigation Assistance request application was denied due to not making the scheduled payments associated with the trial payment or loss mitigation plan. Frantic, I call TMS. I ask to speak with XXXX. The representative tells me shes out of town or out of office. I explain my situation to her, that I was told about the XXXX cent deficiency, that it was an honest clerical mistake and that I took care of the difference on the second payment as I was advised to do. She said that there was nothing she could do as she didnt work in the Loss Mitigation dept, but that she would leave a message for her to contact me ASAP. Meanwhile, I appealed to the Loss Mitigation Dept via email on XX/XX/XXXX as the denial letter says I can do. I get a call from The Money Source on XX/XX/XXXX from TMS while Im at work. I cant answer but I find that a lady named XXXX leaves a voicemail saying its imperative I call her back immediately. Due to work, I can not call her back right away. I completely space calling her back until the next day but cant get a hold of this XXXX individual. The only thing the rep I talk to advises me is that a memo on the account from XXXX says worked the account. I ask what I can do as I am having difficulty getting a hold of anybody from that department. She says that shes not familiar with a lot of the inner workings but usually, when a customer has a Borrowers Assistance option that was not successful, they can resubmit it. I ask her to email me this information so that I can do this ASAP. I proceed to gather all the documentation for a new Borrowers Assistance Package and email that on XX/XX/XXXX. I get a formal notification on the XX/XX/XXXX that my Borrowers Assistance Application was received and reviewed within 5 days That was the last correspondence I received from The Money Source. On XX/XX/XXXX, a man came to my door, identifying himself as an XXXX County Assessor. He advised me, to my complete surprise, that my home was sold as a foreclosure on XX/XX/XXXX. I thought he was joking, he wasnt. I called TMS, and they advised that it had, in fact, been sold, and that there was nothing I could do. I asked them how this could occur when there were ongoing communications with the Loss Mitigation Dept. The lady asked to put me on hold to review, came back and said that because the sale date was the XX/XX/XXXX, any Loss Mitigation requests less than 37 days prior would not be considered. There was nothing she could do. So my complaints at this point are as follows : I feel that at the very least, there was intentional misinformation given to me by TMS in handling the foreclosure/loss mitigation of my loan. At most, there may have been violations relating to Federal and State guidelines related to lending practices. I do not feel that my loan was serviced like a typical VA loan, in that no VA loan loss mitigation options were granted to me as potential options to keeping my home. I am concerned that dual tracking occurred, and that the TPP was never going to be a legitimate option to retain my home because of the limited and often conflicting information given to me. If they were not able to close on the loan modification in XXXX even if I made all the payments because there was an HOA lien that was discovered after the fact, why pretend otherwise? If the TPP was supposed to halt all foreclosure activity so long as it was being adhered to, why was the foreclosure sale scheduled less than 37 days after my notice that the loss mitigation application was denied? And why did the servicer wait until XX/XX/XXXX to notify me of this denial when the payment in question had been made over a month prior? I was also under the impression that appeals for loss mitigation denials had to be responded to within 14 days. This never occurred. After XX/XX/XXXX, none of my previous points of contact could be gotten ahold of ( Not XXXX, not XXXX, not XXXX or anyone from the Loss Mitigation Dept, who I had been told was now outbound calls only ), and none of them ever replied to my request for a call back, or my emails. There was no single point of contact during this period after a Loss Mitigation option had been extended. In a nutshell, my home was sold, and I will have to leave and find a new place for my family in however much time I am afforded, because my first Trial Payment Plan was allegedly underpaid by XXXX cents, and by the time I was notified of that deficiency and the means to address it or have any other recourse, it was too late. There may not be any feasible solutions regarding the FC sale at this point, but I would like this situation, and the lending practices of The Money Source to be investigated to the extent that you are able, while I also seek other consumer and legal advocacy avenues. I have formally requested information from them, which they have advised me will be provided within 30 days. I would hate for anyone to ever experience a nightmare like this from TMS or any other servicer. Thank you in advance for your assistance.
12/10/2021 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • OK
  • 741XX
Web
Loan has been Covid 19 Cares Act forbearance since XX/XX/XXXX and was current at time of entering into forbearance plan. The original Covid 19 Forbearance was scheduled to end XX/XX/XXXX. During this time, my loan was sold and transferred to a new servicer. In preparation to forbearance plan ending, I contacted Hud Counselor and TMS, the new mortgage servicer in XX/XX/XXXX for assistance. It is during this time I discovered that there are a lot of discrepancies as to what forbearance plan my loan was classified as, what post forbearance loss mitigation options I am receiving, and the principal balance owed on my loan. There has been conflicting correspondence that has been sent from the previous servicer and current servicer. In addition, the current servicer has been very vague on what is going on with my account and have not confirmed whether I am in a FHA Covid 19 forbearance plan or Non FHA Covid 19 forbearance plan. Also, the servicer has not provided all the post forbearance options that are available to me even though I requested this in a written notice of error letter. Instead, the servicer states there is not a single, comprehensive list of loss mitigation workout options, as the workouts for which I may qualify will vary. It appears that while my loan was in an approved Covid 19 Forbearance Plan foreclosure loss mitigation actions have been in progress simultaneously as if my loan was past due 60 days before entering into Covid 19 Forbearance. Therefore, I have received updates regarding my Covid 19 forbearance mortgage assistance by email and also, received non-Covid Forbearance mortgage assistance emails, default notice, and two and three month past due demand letters, copies all attached in timeline history documentation. It is my belief that the simultaneous communication was done for the following reasons : To show a history of contacting the borrower regarding delinquency as if a Covid 19 forbearance is not in place and borrower did not respond. By doing this it allows the servicer to immediately start or continue foreclosure once the Foreclosure Moratorium expires. To push loan into foreclosure instead of Covid 19 Home Retention Options due to the amount of equity in the home. Current market value is {$220000.00} and principal balance owed is {$130000.00} which the servicer can expect the home to sell for more than the balance due. This is beneficial to the servicers because they make back their money owed along with all the fees. Also, servicers make more money processing foreclosures than monthly fees for servicing loans. To avoid the federal Covid 19 Forbearance requirements and process the loss mitigation as non-Covid Forbearance Plan as this process is most monetarily beneficial to the servicer as they can add delinquent interest, other charges and fees, or require balance to be paid as lump sum at the end of loss mitigation plan ( which most borrowers would be too far behind to make a lump sum payment especially when the interest, late fees and other foreclosure charges are added ). To cause the borrower to have to prove they were on approved for Cares Act Covid 19 Forbearance Plan. I think that the servicer is counting on borrowers coming out of a long Covid 19 forbearance plan and not having any documentation regarding the initial Covid 19 Forbearance as there is very limited communication sent regarding Covid 19 Forbearance and numerous communications sent regarding loss mitigation efforts, which the servicer sent out FAQ sheet stating that delinquent notices must be sent due to investor guidelines but payments will not be required during the forbearance. FAQ sheet also states you only need to contact the servicer if you wish to cancel your forbearance plan or adjust the duration of the forbearance. This basically ensures that the borrower does not respond to any loss mitigation notices, see copy of FAQ sheet attached. Complaint Items 1. XXXX is practicing dual tracking. 2. XXXX Servicer reported to credit bureau that my loan was in deferral program and defaulted on this deferral program when the loan was actually in an approved Covid 19 Cares Act Forbearance plan. 3. XXXX Servicer improperly started foreclosure process including sending default notices and past due demand letters while loan was in an approved 180 day Covid 19 Cares Act Forbearance plan. 4. XXXX Servicer reported to credit bureau that loan was 180 days or more past due when loan was in an approved 360 day Covid 19 Cares Act Forbearance plan that was current at time of forbearance began. 5. The Money Store ( TMS ) is practicing dual tracking. 6. TMS reported to credit bureau that my loan was in deferral program effective XX/XX/XXXX, when I was actually in a requested 90 day extension to Covid 19 Forbearance that was scheduled to end XX/XX/XXXX. A deferral is a permanent post forbearance plan. 7. TMS did not comply with 90 extension requirements by only providing 60 day extension. By doing so prematurely forcing me into a post forbearance program on XX/XX/XXXX. Servicer intentionally tried to discourage me from canceling forbearance plan on XX/XX/XXXX. 8. TMS improperly classified loan as Special Forbearance Plan which is an unemployment forbearance which is offered after forbearance assistance under Covid 19 is complete. By doing this, an additional {$10000.00} of interest and fees was added to unpaid balance. 9. TMS did not comply with Covid 19 Home Retention Program by not evaluating my loan for Advanced Loan Modification ( ALM ). Servicer informed me that ALM requires the borrower to submit a request. In addition, after formally requesting ALM in writing the servicer ignored request. When I requested ALM review by phone, servicer stated application review was submitted but is pending. Later called to notify me of approval of partial claim with no mention of ALM outcome. 10. TMS notified me on XX/XX/XXXX that I was approved for partial claim that would be complete on XX/XX/XXXX and payments were to resume starting XX/XX/XXXX. When I tried to make a payment the servicer encouraged me to wait informing me that I have the whole month of XXXX to make a payment without a penalty. Servicer also stated the partial claim paperwork has been ordered and I should receive any day via XXXX. Why wasnt I sent a letter stating that a partial claim was approved and when my payments were to resume? Why was this only communicated verbally? I have provided written disputes sent to the servicers, a summary of events that I have experienced over the last 15 months, discrepancies and erroneous information servicers have given and reported to credit bureaus, and timeline of contact and correspondence with servicers with supporting documentation. My hope is that providing a detailed review of the process that I have experienced thus far with how my servicers have handled Covid 19 Cares Act Forbearance Plan post forbearance options, you will see exactly what servicers are doing to borrowers. When reaching out for assistance to HUD Counselors and FHA Housing Program Specialist it was difficult to explain the issues I had been experiencing. And although they were eager to help, they could only provide assistance based on what the servicers should be doing because they werent aware of what servicers are actually doing.
11/22/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • XXXXX
Web Older American
WHAT HAS HAPPENED. XXXX. Closed my refinanced home loan with XXXX who immediately transferred the servicing of the loan to The Money Source ( TMS ). The first payment was due XXXX. XXXX. Received automated email from TMS showing incomplete property address. Also received welcome email. XXXX. Sent email to TMS with question about making autopayments. XXXX. Received automated form email response telling me to call customer service. XXXX. Received email from XXXX indicating that my account was set up with TMS online. XXXX. After setting up the online account, received automated welcome email from TMS. XXXX. Set up an automatic payment from my XXXX checking account to pay the XX/XX/XXXX payment on XX/XX/2020. XXXX. Sent email requesting TMS correct the incomplete property address showing online. XXXX. Received automated form email response telling me to call customer service. XXXX I called TMS. Was told by 3 different people ( XXXX, XXXX, and XXXX ), none of whom would give me their last name, that my loan had been sold effective XX/XX/2020 and that TMS would *not* post my XXXX payment and they would *not* pay my XXXX property taxes. XXXX. I called TMS again. Left a message requesting a return call. XXXX. I called TMS for the third time. Spoke to XXXX XXXX who promised to follow-up with the address correction, the servicing transfer information, and payment of property taxes. I emailed my property tax bill to her direct attention. She never followed up and she never responded to my email or phone call. XXXX. I emailed XXXX XXXX at TMS and sent her the XXXX property tax bill. In this email, I clearly identified the four specific problems on my loan. XXXX. Received automated form email from TMS indicating that they were " currently working to fulfill '' my email request. XXXX. I called XXXX XXXX. I was told by 3 different people that they had no record of my loan whatsoever. XXXX. I cancelled the automatic XX/XX/XXXX payment from my XXXX checking account that had been scheduled to pay on XX/XX/2020. XXXX. I received a mortgage statement with an incorrect address for the payment due on XX/XX/2020. This had been delivered to my neighbor, who brought it to me. XXXX. I set up another automatic payment from XXXX to pay the XX/XX/XXXX payment on XX/XX/2020. This payment was received by TMS on XX/XX/2020 but never posted to my account. XXXX. I sent a second email to XXXX XXXX indicating that I paid my XXXX payment to TMS and that I expected TMS to pay my XX/XX/XXXX property taxes from the {$3500.00} that they were holding in my escrow account. XXXX. I received automated form email from TMS indicating that they were " currently working to fulfill '' my email request. XXXX. I called TMS. Spoke to Candy, then XXXX ( who indicated she was a " team lead '' ). Neither would give me a last name. XXXX confirmed that TMS could *not* post my XXXX payment and they could *not* pay my property taxes because the loan servicing had already been sold on XX/XX/2020. XXXX also told me that she could not return the {$3500.00} in my escrow account so that I could pay my own property taxes. She said that XXXX XXXX would pay the nearly {$300.00} delinquent penalty if my taxes werent paid by XX/XX/2020. She told me that she had my transfer of servicing letter right in front of her and that she would email it to me within one hour ( by XXXX ). I never received an email and never received a call back. Note this discrepancy : The servicing transfer letter I received on XXXX indicates that it was prepared on XXXX, which was 2 days AFTER this phone call. XXXX. I called XXXX XXXX again. I was told by 4 different people that they had no record of my loan whatsoever. The last person I spoke to, a manager named XXXX XXXX never responded with a phone call or sent a follow-up email as she had said she would. While on the call, she sent me an email to confirm that she had my correct email address ( attached ). Ill also note that XXXX said she couldnt do anything to resolve the problems at that moment because she was eating her dinner and it was getting cold. XXXX. I took TMS website screenshots showing that ( 1 ) my loan account was active, ( 2 ) the XXXX payment had been received on by TMS XX/XX/XXXX but never posted to my account, and ( 3 ) my escrow account balance was still {$3500.00} and clearly, my property taxes that were due on XX/XX/XXXX had not been paid. XXXX. I received an automated email from TMS indicating that my XXXX mortgage statement was available online. This XXXX statement is dated XX/XX/XXXX ( 3 days after the presumed date that the transfer of servicing letter was prepared ), and shows that my XX/XX/XXXX payment was received, but never posted to my account, and consequently, my XXXX payment is showing as delinquent. Also, that no property taxes ( now past due ) had been paid from my escrow account. XXXX. I received an automated email from TMS indicating that a " new letter '' was available online. This is a servicing transfer notice dated XX/XX/XXXX. However, it contains some significant discrepancies. The letter indicates the following : 1. The servicing of my loan will be transferred effective XXXX XXXX. I should remit my payments to the new servicer beginning XXXX. This is one month before the supposed date of transfer. 3. TMS will be collecting my payments until XXXX. Note that several people at TMS have refused to post my XXXX payment or pay my XXXX property tax bill multiple times, insisting that they could not do so because the servicing transfer date was XXXX. 4. Payments sent after XXXX should be paid to the new servicer. I'll also note that receiving this letter on XX/XX/2020 is a clear violation of 12 CFR part XXXX ( regulation x ), XXXX mortgage servicing transfers, section 3, paragraph a, which states the transferor servicer shall provide the notice of transfer to the borrower not less than 15 days before the effective date of the transfer of the servicing of the mortgage loan. XXXX. I received a call from TMS phone number. The caller hung up when I answered the phone. XXXX. I took TMS website screenshots showing that XXXX. My loan account was still active 2. My XXXX payment had been received on XX/XX/XXXX but never posted to my account 3. My escrow account balance was still {$3500.00} 4. My property taxes that were due on XX/XX/XXXX had not been paid. XXXX. I called TMS, then remembered that they are not open on XXXX. STATUS AS OF XXXX : 1. My XXXX payment is showing delinquent despite showing that TMS received my payment on XX/XX/XXXX. 2. My XX/XX/XXXX property taxes have not been paid and are now past due. On XX/XX/2020 they will become delinquent at which time the XXXX XXXX XXXX XXXX XXXX will assess a delinquent penalty of {$270.00}. 3. No one from TMS has ever responded ( despite repeated promises from multiple people ) to get me more information or get clarity about the transfer of servicing status of this loan. 4. The transfer of servicing letter I received from TMS on XXXX contains multiple discrepancies. 5. After more than an hour on the phone with XXXX XXXX on two occasions, they have repeatedly denied having any record of my loan. Their manager did not follow up as she had promised.
12/16/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • XXXXX
Web Older American
WHAT HAS HAPPENED. XXXX. Closed my refinanced home loan with XX/XX/XXXX who immediately transferred the servicing of the loan to The Money Source ( TMS ). The first payment was due XXXX. XXXX. Received automated email from TMS showing incomplete property address. Also received welcome email. XXXX. Sent email to TMS with question about making autopayments. XXXX. Received automated form email response telling me to call customer service. XXXX. Received email from XXXX indicating that my account was set up with TMS online. XXXX. After setting up the online account, received automated welcome email from TMS. XXXX. Set up an automatic payment from my XX/XX/XXXX checking account to pay the XX/XX/XXXX payment on XX/XX/2020. XXXX. Sent email requesting TMS correct the incomplete property address showing online. XXXX. Received automated form email response telling me to call customer service. XXXX I called TMS. Was told by 3 different people ( XXXX,XX/XX/XXXX, and XXXX XXXX, none of whom would give me their last name, that my loan had been sold effective XX/XX/2020 and that TMS would *not* post my XXXX payment and they would *not* pay my XXXX property taxes. XXXX. I called TMS again. Left a message requesting a return call. XXXX. I called TMS for the third time. Spoke to XXXX XXXX who promised to follow-up with the address correction, the servicing transfer information, and payment of property taxes. I emailed my property tax bill to her direct attention. She never followed up and she never responded to my email or phone call. XXXX. I emailed XXXX XXXX at TMS and sent her the XXXX property tax bill. In this email, I clearly identified the four specific problems on my loan. XXXX. Received automated form email from TMS indicating that they were " currently working to fulfill '' my email request. XXXX. I called XXXX XXXX. I was told by 3 different people that they had no record of my loan whatsoever. XXXX. I cancelled the automatic XX/XX/XXXX payment from my XX/XX/XXXX checking account that had been scheduled to pay on XX/XX/2020. XXXX. I received a mortgage statement with an incorrect address for the payment due on XX/XX/2020. This had been delivered to my neighbor, who brought it to me. XXXX. I set up another automatic payment from XX/XX/XXXX to pay the XX/XX/XXXX payment on XX/XX/2020. This payment was received by TMS on XX/XX/2020 but never posted to my account. XXXX. I sent a second email to XXXX XXXX indicating that I paid my XXXX payment to TMS and that I expected TMS to pay my XX/XX/XXXX property taxes from the {$3500.00} that they were holding in my escrow account. XXXX. I received automated form email from TMS indicating that they were " currently working to fulfill '' my email request. XXXX. I called TMS. Spoke to Candy, then XXXX XXXX who indicated she was a " team lead '' ). Neither would give me a last name. XXXX confirmed that TMS could *not* post my XXXX payment and they could *not* pay my property taxes because the loan servicing had already been sold on XX/XX/2020. XXXX also told me that she could not return the {$3500.00} in my escrow account so that I could pay my own property taxes. She said that XXXX XXXX would pay the nearly {$300.00} delinquent penalty if my taxes werent paid by XX/XX/2020. She told me that she had my transfer of servicing letter right in front of her and that she would email it to me within one hour ( by XXXX ). I never received an email and never received a call back. Note this discrepancy : The servicing transfer letter I received on XXXX indicates that it was prepared on XXXX, which was 2 days AFTER this phone call. XXXX. I called XXXX XXXX again. I was told by 4 different people that they had no record of my loan whatsoever. The last person I spoke to, a manager named XXXX XXXX never responded with a phone call or sent a follow-up email as she had said she would. While on the call, she sent me an email to confirm that she had my correct email address ( attached ). Ill also note that XXXX said she couldnt do anything to resolve the problems at that moment because she was eating her dinner and it was getting cold. XXXX. I took TMS website screenshots showing that ( 1 ) my loan account was active, ( 2 ) the XXXX payment had been received on by TMS XX/XX/XXXX but never posted to my account, and ( 3 ) my escrow account balance was still {$3500.00} and clearly, my property taxes that were due on XX/XX/XXXX had not been paid. XXXX. I received an automated email from TMS indicating that my XXXX mortgage statement was available online. This XXXX statement is dated XX/XX/XXXX XXXX 3 days after the presumed date that the transfer of servicing letter was prepared ), and shows that my XX/XX/XXXX payment was received, but never posted to my account, and consequently, my XXXX payment is showing as delinquent. Also, that no property taxes ( now past due ) had been paid from my escrow account. XXXX. I received an automated email from TMS indicating that a " new letter '' was available online. This is a servicing transfer notice dated XX/XX/XXXX. However, it contains some significant discrepancies. The letter indicates the following : 1. The servicing of my loan will be transferred effective XXXX 2. I should remit my payments to the new servicer beginning XXXX. This is one month before the supposed date of transfer. 3. TMS will be collecting my payments until XXXX. Note that several people at TMS have refused to post my XXXX payment or pay my XXXX property tax bill multiple times, insisting that they could not do so because the servicing transfer date was XXXX. 4. Payments sent after XXXX should be paid to the new servicer. I'll also note that receiving this letter on XX/XX/2020 is a clear violation of 12 CFR part 1024 ( regulation x ), XXXX mortgage servicing transfers, section 3, paragraph a, which states the transferor servicer shall provide the notice of transfer to the borrower not less than 15 days before the effective date of the transfer of the servicing of the mortgage loan. XXXX. I received a call from TMS phone number. The caller hung up when I answered the phone. XXXX. I took TMS website screenshots showing that 1. My loan account was still active 2. My XXXX payment had been received on XX/XX/XXXX but never posted to my account 3. My escrow account balance was still {$3500.00} 4. My property taxes that were due on XX/XX/XXXX had not been paid. XXXX. I called TMS, then remembered that they are not open on Saturdays. STATUS AS OF XXXX : 1. My XX/XX/XXXX property taxes have not been paid and are now delinquent. The XXXX XXXXXX/XX/XXXXCounty Tax Assessor has assessed a delinquent penalty of {$270.00}. 2. No one from TMS has ever responded ( despite repeated promises from multiple people ) to get me more information or get clarity about the transfer of servicing status of this loan. 3. The transfer of servicing letter I received from TMS on XXXX contains multiple discrepancies. This is a second complaint filed because The Money Source has not responded to any of the problems described above or to the resolution items listed below.
10/15/2022 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • KY
  • 410XX
Web Servicemember
I pay my mortgage each month although after The Money Source miscalculated my taxes last year, they increased my payment XXXX I pay directly from my bank annotating the respective month payment. Countless times I will send additional money to be applied to the following month specifically noting the payment is to go towards the following month. In XXXX I sent separate payments XXXX apart and each time again, they credited to my principle. I have contacted them over 10X each time they make the error. But now they have made this mistake so many times, each time ignoring my inquiries they have my loan as 30 days late. Common sense should say if a customer owes money, the payment is not towards the principle but they do nothing to correct the error. Nowhere in my loan documents does it state I can only make one payment and it has to be online. I have called, I have emailed and they not only ignore requests to fix the error but they continue doing it. I have never paid extra money to go to my principle, I specifically told them this two or three years ago. But now they just apply my regular payment to the principle and report my mortgage as late. They have caused five credit cards to close, and my credit report to take a massive hit. I can barely pay the mortgage with the XXXX increase bc they miscalculated my home value but now having to pay extra because they incorrectly credit principle, is getting insane. I email them numerous times to have evidence for when i have to prove I made contact. Calling gives me no protection. Besides my emails are clear for someone to forward to correct. They give a blanket response to call. But when I called last year they had no record. My emails keep asking them to correct the mistake. I ask them to please review the memo line that annotates monthly payment but I am beginning to think it is some scam to get more money. I have asked them to go back two years and adjust my account for their mistake and they will see I am not behind my payments. If they can not do that to at least do not report payments incorrectly. It seems basic common sense and it should not require hundreds of emails. They dont even bother to respond. But this is my last good faith effort to resolve because their reckless actions have had detrimental impact om other areas of my life. The next logical step is a lawsuit because the compensatory damages is insignificant to punitive. This was unnecessary undue stress to purposely cause a customer. They have time to send late letters and report to credit bureau they could correct their mistake. It is not my fault they assume a payment is a principle when it does not state that and common sense should prevail not to credit principle when a past due payment is owed. One should assume the money is for the bill. How am I supposed to know ? It is not like the error is consistent. I have sent numerous payment in similar fashion and the payment credited.The inconsistency is much worse bc it creates anxiety every time i send payments. only reason I cant pay my mortgage is because the money source automatically credits any payments not sent from their website as principle. I would use their website accepts it can take two weeks for them to deduct the funds which is why I send a check from my bank to avoid any issues of the payment not clearing. In XXXX XXXX i began sending extra payments because i knew i would be having medical treatment in XXXX XXXX and wanted to be current when I was out of work. Fast forward in XXXX XXXX I check my account and realize all the money is applied to principle but worse I send funds to get ahead and they apply two XXXX payments putting me another month behind. I contact them stating any biweekly payments or additional funds were marke as a monthly payment and was market as a principle payment. But worse why would they assume I was paying principle when i was behind according to their records.idk if they contract to people whose English is not a first language but I never dreamed it would esculate to seeking legal representation because they knowingly were re so its sometimes easier to pay half each pay period with the XXXX increase. XXXX is a huge difference unexpectantly when it was my belief the purpose of a mortgage company was to do the right estimates. So after their miscalculation I have to break up my payments but it should not result in the funds being paid to my principle and reporting late fees? I understand the first mistake a few years ago but to continue to the point i am now delinquent is insane. I contacted them when it first happened to avoid this very situation in XXXX. I can not even refinance with a new company who can credit payments correctly because the money source has killed my credit reporting as delinquent. My fear now is this will continue occurring and I will be foreclosed on solely because The Money Source puts my payments to my principle unless I pay online. They have done it so mang times they have me as two months behind and it is not late at all. The amount of stress this has caused is unbearable and they simply do not care. I told them 30 days ago if they did not credit my payments I would file a complaint. I really thought a threat filing a complaint would prompt them to correct. I just dont know what to do. I annotate the memo it happens. I call and it continues to occur but now it has gotten to the point that credit cards "think" I can not pay my bills and closing credit cards. I was not able to pursue my second year into my masters because my score dropped and deemed higher risk since its a VA loan. Based on my calculations I should be current but based on XXXX I am 60 days late. Please help me. The stress alone from the increase was enough but this is over the top when it is all on their end and the worse part they make no attempt to correct or resolve Instead they keep doing it I am a XXXX XXXX with XXXX and the stress caused by late payments when I have never paid anything late caused me to go from monthly therapist sessions to weekly. I have reached the point I may as well stop paying all together because at this rate Ill continue paying and be XXXX. Most people worry about having the money paying the mortgage but i think its far worse when you are paying your mortgage and still having to worry about foreclosure because the money source wont take five minutes to review their mistake. Please help me. I have no recourse but legal action. Even if they correct the errors it wont undo the impact it has caused. Contacting them has gotten me nowhere but close to foreclosure. I can provide all my emails. All my payments to prove they are wrong. The irony is they NEVER call me to ask about the overdue bill they only send letters which makes me believe they purposely know what they are doing. I will contacted the XXXX to make them aware to hopefully intervene since who knows how many customers they do this to in order to meet their financial issues. Keep crediting payments and foreclosure occurs. Seems like they are running a huge scam.
11/12/2019 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • GA
  • 30311
Web
This complaint is being filed due to the failure of HUD and The Money Source to perform their fiduciary responsibilities in regard to the FHA Limited 203K loan closed on XX/XX/XXXX, for the property located at XXXX XXXX XXXX XXXX, XXXX, GA XXXX. HUD has failed to provide compliance and oversight of the loan and 203K Program by allowing The Money Source to withhold the balance of the allocated renovation funds for the property located at XXXX XXXX XXXX XXXX, XXXX, GA XXXX. HUD allowed The Money Source to issue an initial distribution/payment of {$15000.00} to XXXX XXXX XXXX without securing proof of a general contractors license and construction insurance certificate required by the State of Georgia to operate as a general contractor. HUD and The Money Source have allowed the property to continue to decline. The Money Source hired a HUD 203K Consultant, paid out of the 203K loan funds, to price the quality and level of work performed by XXXX XXXX. On XX/XX/XXXX, an exit inspection report was presented to the Money Source by XXXX XXXX, 203 ( K ) HUD / FHA Consultant ( ID # XXXX ), pricing the work performed as up to {$3800.00}. The following is the chronology of events after I released XXXX XXXX from service on XX/XX/XXXX, after being notified of unsatisfactory work : On XX/XX/XXXX, The Money Source was forwarded a copy of e-mail dismissing XXXX XXXX and requesting a final bill for services. On XX/XX/XXXX, XXXX XXXX submitted a final bill to me via e-mail for renovation services performed for another customer. On XX/XX/XXXX, a certified letter was sent by me to XXXX XXXX and The Money Store via USPS detailing the reasons for dismissal. On XX/XX/XXXX, I received a collection letter from the XXXX XXXX XXXX representing XXXX XXXX for the cost of services listed in the e-mail dated XX/XX/XXXX, for services rendered to another customer. The e-mail above was forwarded to The Money Source on XX/XX/XXXX. On XX/XX/XXXX, I received an e-mail response from XXXX XXXX XXXX, 203K Specialist for The Money Source, stating, her manager would be reviewing the file and the file would be placed on legal hold for the time being. After several phone calls and e-mails requesting an update, on XX/XX/XXXX, I received an e-mail response from XXXX XXXX, AVP | Escrow Disbursement, from The Money Source. Ms. XXXX stated, it was my responsibility to respond to the collection request and any disputes have to be dealt with between me and the contractor. Ms. XXXX referred me to the homeowner-contractor agreement issued by The Money Source/XXXX Mortgage, citing the arbitration clause, along with a copy of the exit inspection report. After receiving the e-mail above, I phoned Ms. XXXX to request an explanation for the delayed response and delivery of the exit inspection report. Ms. XXXX gave no explanation. On XX/XX/XXXX, Ms. XXXX e-mailed me to request a phone meeting between me and her supervisor XXXX XXXX. The meeting was scheduled for XX/XX/XXXX. On XX/XX/XXXX, I received an e-mail from The Money Source with an attachment titled XXXX Extension. The document was a Request for Acceptance of Changes in Approved Drawings and Specifications. The e-mail stated the attached document was an extension request that needed to be completed and signed by me and returned to The Money Source. The new date of completion and explanation for the change were left blank on the document. On XX/XX/XXXX, I had a phone conversation concerning the status of my loan and its reinstatement with Ms. XXXX and XXXX XXXX, HUD Representative. During the conversation, Ms. XXXX stated no more distributions for repairs would be released and I would be required to recoup the overpayment from XXXX XXXX via arbitration. I would also be required to continue to make payments for the renovation loan in full, including the non-distributed funds. I asked Ms. XXXX how could funds remain on hold after Mr. XXXX assessment supported my statement of the quality of work performed by XXXX XXXX? Ms. XXXX stated, she could deem the house unhabitable and I will still be responsible for the mortgage and have to live elsewhere. I mentioned I did not intend on signing the extension form. Ms. XXXX stated my signature was not needed that she had the authority to institute the extension. On XX/XX/XXXX, I filed for construction arbitration with the XXXX XXXX XXXX as suggested by Ms. XXXX. I received an e-mail on XX/XX/XXXX, from XXXX XXXX XXXX stating XXXX XXXX had been notified of the request for arbitration. On XX/XX/XXXX, I was informed XXXX XXXX had not responded to my request for arbitration and had not paid their portion of the cost for arbitration services. XXXX XXXX XXXX requested I pay on behalf XXXX XXXX. On XX/XX/XXXX, I received a notice of suspension of arbitration for non-payment by XXXX XXXX and again, XXXX XXXX XXXX requested I pay McDonald Constructions portion of the arbitration services fee. I e-mailed Ms. XXXX on XX/XX/XXXX, attaching the e-mails from XXXX XXXX XXXX concerning the non-response from XXXX XXXX and requesting : When would HUD/The Money Source recoup the {$15000.00} from XXXX XXXX? When would the remaining 203K Renovation funds be released? If not released, when would the remaining funds be removed from my loan and adjusted to reflect the credit of the overpayments to my loan? On XX/XX/XXXX, in lieu of Ms. XXXX responding, I received an e-mail response from XXXX XXXX, Paralegal | General Counsels Office, Ms. XXXX stated my email had been escalated to the Office of General Counsel for review and a response would be provided early next week. On XX/XX/XXXX, I requested an update because I had not received the promised response. As of this letter, I have not received a response from The Money Source. I and The Money Source on XX/XX/XXXX, received a letter of cancellation from XXXX XXXX XXXX concerning my homeowners insurance due to failure to complete required repairs. I and The Money Source also received a notice for the same required repairs from XXXX XXXX XXXX on XX/XX/XXXX. The failure of HUD and The Money Source to deliver the contracted renovation funds has led to the insurability of the property. The Money Source has failed in other areas in their fiduciary responsibilities by allowing the homeowners insurance to lapse and overpay an insurance provider. This failure was brought to the attention of HUD ( Ms. XXXX ) who declined to provide corrective action. I have additional examples of HUDs failure to provide oversight involving another mortgage company ( XXXX XXXX ). For this reason, I am requesting your assistance in resolving this issue. Thank you in advance for your assistance in resolving this issue. Sincerely, XXXX XXXX
05/30/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • FL
  • 34287
Web Older American, Servicemember
Near the end ofXX/XX/2020 we contacted our Mortgage Company , The Money Source ( TMS ) to inquire how much we needed to pay towards our loan in order to bring the threshold low enough to have the Private Mortgage Insurance ( PMI ) dropped from our payment. The amount we pay for PMI every month is {$200.00}, which would reduce our payment significantly, since we are on fixed income and trying to get our expenses down. We were advised at that time, if we made a payment of {$6000.00}, before the next payment due date, it would bring our loan well below the threshold, and approximately 30 days after the payment was received, the PMI would drop off. On XX/XX/2020 we made an electronic payment of {$6000.00} plus our regularly scheduled payment of {$1000.00} which totaled {$7000.00} directly through the TMS portal. The electronic portal required us to make our regular payment in addition to whatever excess payment we were making at the time. This payment posted to our TMS account on XX/XX/2020. In addition the aforementioned payment, on XX/XX/2020 TMS made an automatic withdrawal from another bank account for {$1000.00} through a previously arranged withdrawal agreement. Therefore, TMS received a total of {$8000.00} on XX/XX/2020. We contacted TMS regarding the extra withdrawal/payment, at which time we were advised the computer needed to reset itself and once it did, the following months statement would reflect the additional payment and the removal of the PMI. However, we were advised sometimes the PMI takes 30 days to drop off, but since we made the payment prior to the next months billing, it should not take that long. When the following months statement posted, it showed our XX/XX/XXXX payments, but still showed we owed a payment for the upcoming month, which we had already paid and all 3 payments were showing on our statement, yet only one monthly payment had been applied to our account. Although the total amount of the loan had been reduced. Once again we called and were advised that although the payment shows as due, they would be applying the extra XX/XX/XXXX payment to the XXXX payment, one month after they made the automatic withdrawal, the computer just didnt reflect it yet. We then asked about the about the PMI still being charged. At that time we were advised that they can see on the computer the payment had been made ; however, for some reason it had not been submitted for PMI removal. The agent advised that the request for removal was going to be submitted immediately and should be completed sometime during the week, this conversation happened some time during the early part of the week of XXXX. Once it was completed, someone would contact us and give us an update. However, if we did not hear from them by XX/XX/2020, to call back on XX/XX/XXXX. Feeling very disenchanted by the entire situation, I decided to call on Friday, XX/XX/2020because I did not trust they were taking the time to correct the situation. At that time we were advised that there seemed to be a problem, because our threshold was down to 77 %. After several attempts to answer our question as to why the PMI had not dropped, they attempted to contact another department only to be told the other department had closed for the day, we would have to call back. This was after spending over two hours on hold. On Monday, XX/XX/XXXX we called again, only this time we called early in the morning. The agent reviewed the file and indicated they had all of our calls on record ; however, there was a problem with the PMI removal and would be receiving a letter explaining the situation. Not being happy with no answer to when the PMI would drop off, I was persistent and ultimately requested a supervisor. The supervisor reiterated what the agent said, and I was equally persistent refusing to end the call. Eventually I was transferred to another department, I believe it was the PMI department, where I spoke with and Agent, XXXX XXXX ( XXXX ). Mr XXXX attempted to find out what was going on with the PMI since we were slated to have the PMI removed. After further investigating the issue Mr XXXX advised our request for PMI removal had been denied. When pressed for a reason, he stated that would require contacting another department and he would get back to me. I refused to allow the phone call to end until, I received an acceptable response. He advised the wait time would be long, to which I replied how my husband had been been on hold for longer than 2 hours, I can wait on hold if necessary. He placed me on hold and upon his return advised that the denial was based upon our area being declared a disaster area, which I argued with him about. He said he did not make the decision but that it was made by our investors due to the area being declared a disaster zone within the last 24 months. Mr XXXX and I argued for some time, which resulted in his attempting to contact the other department to see if they would conduct a review of our request based on information I provided in our conversation. He informed us that we would be receiving a denial letter in the mail explaining the denial, however he would continue to attempt to contact the reviewing department to request they review it again. Eventually, after a couple of hours, I finally agreed to end the call with Mr XXXX, as long as he agreed to call me back with a response. He indeed called before the end of the day and advised he had not forgotten about us, he was still waiting for a response to his request for a review, and someone would get back to us next week to give us an update. As of the writing of this letter we have not received a response from TMS, including no letter explaining the reason for their denial. Our new statement for XXXX has posted, which includes the PMI bringing it to 3 months ( XXXX, XXXX, XXXX ) of paying for it when it should have been dropped. We will have paid {$600.00} for PMI that we shouldnt have had to pay and in XXXX they held our payment of {$1000.00} for a month before applying it to our account while they collected the interest on it. We started inquiring about this request in XXXX, 2020, we followed their explicit instructions and made the payment in XXXX as indicated by our statements, and as of XX/XX/2020 we still are being charged PMI, we have given up fighting with them and waiting for return calls and would like to be treated as the law provides. Supporting documents attached. I have redacted all financial information from my bank statement due to privacy, with the exception of the withdrawal transaction listed as TMS on XX/XX/2020. Thank you, XXXX and XXXX XXXX
05/04/2017 Yes
  • Mortgage
  • FHA mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • FL
  • 32757
Web Older American
On XXXX XXXX , XXXX , I received a call from a Loan Officer by the name of XXXX XXXX at The Money Source which is my existing mortgage loan servicer. XXXX XXXX explained that due to a reduction in the mortgage insurance premium as implemented by the FHA and a downward movement of mortgage rates, The Money Source were in a position to lower my existing rate of 3.875 % to 3.375 % and lower the mortgage insurance premium as well, thereby reducing my monthly payment by approximately {$190.00}. I was informed that neither income documentation, credit qualification nor an appraisal would be required. My only qualification criterion would be my perfect payment record on the existing loan. In this arrangement, nothing would be added to the existing loan balance.T he Money Source would pay for the FHA fee and they would process and underwrite the loan at their cost. I however would be responsible for Title & Escrow fees and Florida state redecoration taxes amounting to a total of approximately {$4000.00} at closing. XXXX XXXX referred to the process as an FHA Streamline re-finance. Disclosure documents were sent to my e-mail address shortly after his call and I signed and returned the documents on-line. Initially, the only additional document that I was required to furnish was a copy of a utility bill and to identify the name and telephone number of my home owners insurance agent which I provided. Several weeks elapsed after which I received a call from XXXX XXXX indicating that due to the fact that loan had not been approved within a time frame reqired by the processing department, a new loan would need to be assembled and disclosed. This was done. This time the loan was different in that the rate was 3.875 % on the basis of Th e Money Source pa ying for all fees, costs and state recordation taxes and I would save approximately {$120.00} monthly. This arrangement suited me because I was previously somewhat concerned about having to provide {$4000.00} at closing. A great deal of time subsequently elapsed with little or no apparent movement on my re-finance. XXXX XXXX did call me from time to time to update me. According to XXXX XXXX the delay was due to a backlog resultant from of an overwhelming response to Th e Money Source Streamline re-finance offers to it 's customers. I did however learn that my re-finance application was in motion and that it was assigned to a processor by the name of XXXX XXXX who only contacted me via e-mail on one occasion to request the same utility bill and insurance information that I 'd previously provided to XXXX XXXX . Around this time, XXXX XXXX called me to state that the processing department informed him that the title report showed a second mortgage held by XXXX . He requested documentation on this loan which I immediately provided. Apart from XXXX XXXX , no Money Source personnel ( with the exception of XXXX XXXX , who I 'll get to later ), ever attempted to establish contact with me ( except the one mentioned e-mail from XXXX XXXX and one other male processor who called to request what I 'd already provided to XXXX XXXX and XXXX XXXX . In XXXX , I received a call from XXXX XXXX to inform me that the rate lock on my application had expired and that currently available rates were substantially higher. His apology was contrite and assured me that he had left no stone unturned in efforts to ensure that my application was expeditiously processed. He stated that his efforts included numerous e-mails to his supervisor, the processor, her supervisor, and th e Vice President of Processing. I found him to be sincere because he had proved to be a reliable communication partner and always conducted himself with the utmost professionalism. I expected to receive some written response from The Money Source stat ing that my application had been rejected, but received nothing. Instead, some weeks later a few days before XXXX , I received another call from XXXX XXXX to advise that the Processing department was now urgently requesting copies of a survey on the property and an updated utility bill. I provided copies the same day. Shortly thereafter, I received another call from XXXX XXXX stating that The Money Source were declining my loan application because until that point, no subordination request had been submitted by The Money Source to XXXX XXXX and that the required subordination would require approximately another two weeks to get done in a rising rate environment and that The Money Source were not prepared to honor the rate that was offered to me. XXXX XXXX expressed profound apology. He assured me that he had appealed my case all the way to Executive Vice President le vel, without success. A short while later, received a call from a Loan Officer by the name of XXXX XXXX at the Money Source who confirmed that the rate formerly offered to me was no longer available, but that he was able to offer me 4.125 %, but that the rate difference between what I has originally been offered would be offset by a further reduction of 0.20 % in the mortgage insurance premium which he stated the FHA were poised to approve at the end of XXXX . Nothing transpired regarding this until early XXXX XXXX when I received a Denial Notice from The Money Source on my application. The date on the Adverse Action/Denial was dated XXXX / XXXX / XXXX and he reason stated for the denial was said to be that.. '' CREDIT NOT GRANTED TO ANYONE ON TERMS/CONDITIONS REQUESTED. This is outrageous! This is certainly NOT the real reason for denying my loan. I subsequently spoke with XXXX XXXX and he re-stated the fact that he had advocated on behalf of my application all the way to the level o f Executive Vice President. XXXX XXXX informed me that all of his e-mails and responses thereto were matters of record and that he had copied and pasted them in my loan file in The Money Source producti on data base called BLITZ. I believe the manner in which I have been treated by The Money Source is unconscionable and I would not be surprised if heir actions are illegal. Their failure to process my loan in a period approximating 6 months is incredible to me. In hind sight, I wish I had cut lose from The Money Source many months earlier and accepted one of the numerous offers made to me by other lenders. I 'm a XXXX XXXX and the difference between right and wrong in this matter is as clear to me as the difference between north and south. XXXX XXXX XXXX XXXX XXXX
08/05/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • GA
  • 30316
Web
I closed on the purchase of a rental property on XX/XX/XXXX of this year, XXXX. After making one payment ( in XXXX ) to the bank that closed the loan, XXXX XXXX, I was notified that the loan had been sold to a new servicer and that the XXXX payment would be due to XXXX XXXX. This was unsurprising news as I have worked in real estate for nearly 20 years and have a solid understanding of the mortgage industry. What was surprising was that I received a mortgage escrow evaluation From XXXX in mid XXXX ( not 3 months after closing on the property ) stating that I had an escrow shortage of {$1800.00} in addition to an uncollected tax in the amount of {$480.00}. I could pay this in full or increase my monthly payment by {$190.00}. Please note that the original escrows were estimated from the XXXX tax bills, per the norm and that the XXXX tax bills are still not out. So a new, higher tax bill does not explain the short. Additionally, these closing escrows were done by my preferred lender ( XXXX XXXX ) with whom I close many transactions per year with no issues of this kind. I quickly figured out that the " missed tax '' of {$480.00} is actually our county sanitation bill, which is not typically collected in escrow and is certainly not a tax. The analysis document shows what I believe to be an intentionally confusing list of numbers that do not reveal a basis for collecting additional tax funds. Please see attachment XXXX XXXX 1 & 2. When I called the company for an explanation of these figures and also to ask why an evaluation had been performed so soon after a closing. I was told that the " missed tax '' had spurred the analysis. I explained that it was not a tax but a sanitation bill and showed that it reflects the exact same amount due. When he was then unable to explain the {$1800.00} of the escrowed tax shortage, we were mysteriously disconnected. In fact, I was mysteriously disconnected from representatives of this company FIVE times when they found they were unable to provide an explanation for these figures. On one or two of these occasions, I had a representative from XXXX ( the originator ) on the line with me to help me work through it. She was shocked as well. My XXXX rep did try to escalate the situation. I was then contacted by an XXXX Customer Service person named XXXX XXXX, who was not able to provide much assistance or clarification other than following up. This may be because almost simultaneously ( early XXXX ) I was notified that the loan was being sold again, this time to The Money Source. I did go ahead and send XXXX a Qualified Written Request asking for a clearer breakdown of the escrow short. I received formal notification that I would receive that within 30 days. I have not. These documents are also attached. However, XXXX did call me in an attempt to explain the shortages after discussing with her escrow department. She said that due to new Covid regulations, XXXX wanted to collect 2 additional months of estimated XXXX XXXX of XXXX tax and 3 additional months of XXXX Count tax. While she was on the phone, I pulled up the tax bill and walked through these calculations with her. Our final calculation was not equal to the amount of the short I was being required to pay. When I asked her if she had known all along that this number would not add up, she admitted that she had. I told her I had nothing further to discuss with her. So, now we come to The Money Source. The first bill ( for XXXX ) reflected the original payment, however the bill due XX/XX/XXXX showed the {$190.00} increase based on the escrow analysis done by XXXX. Of course I called to argue that. I also wanted to make sure that in a worst case scenario, I would be able to strip the escrows and just pay principle and interest. * Side note : I DO NOT consider that a desirable outcome. I paid for loan servicing when I closed on this loan and I expect to get it. It is a hassle to have to pay taxes to City and County twice a year as well as insurance and keep up with documentation as will be requested by TMS. ** I did receive a notice from them saying stripping the escrows was acceptable - see attachment. TMS did tell me that I would need to pay the escrow short and sanitation as reflected in the analysis by XXXX. I said that they needed to provide me with a breakdown to reflect these estimations. The rep, XXXX, said that they had been requesting docs from XXXX but that she would have TMS do a new analysis which they could provide to me within a week. I did not receive it. I called again around mid XXXX. They did not have it and stated they were waiting on the escrow analysis from XXXX and asked me to provide one. I told them that I did not have one that was sufficient and that I did not believe they would be receiving one from XXXX as I thought their analysis was fraudulent. I had also explained this in my previous phone call. The rep said she would escalate the new analysis. I was told it would be due back on XX/XX/XXXX. When I called on XX/XX/XXXX, they still didn't have the analysis nor did the person show a request for an escalation and told me they were waiting on docs from XXXX. Again, I explained that XXXX would not likely provide that and argued that they can not increase a payment due to an escrow shortage without providing a statement of that shortage, but was told I am incorrect. The rep said this time they would get it done and the analysis would be due back on XX/XX/XXXX. I called again yesterday ( XXXX ) to check the status. Again, there is NO ESCALATION. And they are still saying they are waiting on docs from XXXX reflecting the escrow shortage. I continued to argue that my payment can not be increased, but was told that it was and is and if the full amount is not paid, it will be a default. It will be 2 months from the transfer on XX/XX/XXXX and my 60 days of respite per the RESPA provisions will be up. Additionally, I was told that there would be paperwork to have the escrow stripped ( even through I have a letter approving it ) so that is not an option that can be done in advance of the payment date of XX/XX/XXXX. Without question, these delays are intentionally being made to force my hand into overpaying for a mortgage escrow shortage that was invented. I fully believe this is the basis of mortgage servicing fraud and that the endgame is to either divert these funds away from people less savvy than myself or force people who are already compromised into foreclosure. Please assist me in stopping this criminal activity.
01/14/2021 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • NY
  • 120XX
Web
I purchased my home through XXXX XXXX XXXX inXX/XX/2019, the mortgage was than transferred to TMS ( The Money Source ). I have always paid my mortgage in full either ahead of time or on time. In the beginning of XXXX I started calling TMS, because I had received a letter stating my school taxes had not been paid. When I contacted TMS they told me they had until a certain date to pay and it was " OK '' they were paid late, I would not be charged any late fees. I called numerous times after because I did not want my taxes to be paid late, I also did not trust I would not be charged a late fee because my town said I would be charged. I then found out that my property taxes had never been paid. When I spoke with TMS numerous times, they said they were paid, I asked for a manager and they " investigated '' further and saw that this was not the case. They told me that it would be taken care of within 15 business days and I would be notified. I was never notified of anything. When I spoke with my town tax assessor, nothing was paid. After numerous phone calls from me my school taxes were finally paid and sent out late on XX/XX/XXXX. My XXXX property taxes were not paid until XX/XX/XXXX and were sent back with a letter from my town on XX/XX/XXXX stating that the taxes were a year late and they needed to contact the county tax department and pay through them. To this day ( XX/XX/XXXX ) those taxes have not been paid and the money for those property taxes is " missing ''. My homeowners insurance was also something that I had to call numerous times for as well because that was not paid on time. When I spoke with TMS they said there was a " special grace period '' for them and they did not need to pay this on time either. Yet, when I spoke with my insurance company they told me if it was not paid on time, the insurance would lapse and I would be charged a late fee that could be in excess of over a years worth of the insurance because i would be dropped. So I had to pay out of pocket for the insurance and wait almost 3 months for reimbursement because TMS paid late. None of my taxes or insurance should be getting paid late because I have an FHA mortgage and all of the money is/was in my escrow account. I started refinancing my home during the summer of XXXX and when TMS got wind of this information, they decided to send me my entire escrow account. I tried to send it back but they would not accept it. I spoke with them numerous times about this and they said because I was refinancing that it would not be a problem but to keep paying my mortgage payments until the refinance went through. My refinance was finalized the beginning of XX/XX/XXXX and all mortgage payments were paid in full on time. Since than, I have been getting harrassed at least 5-6, sometimes up to 10 calls a day from TMS that I am in collections for not paying my mortgage and that I owe money for the payoff of the refinance. I have repeatedly expressed that the calls need to stop because of the refinance. TMS has told homestead funding, my mortgage, title and lawyer that they would contact them but when I spoke with them XX/XX/XXXX they said they were unable to do so without consent. So I sent the form in as soon as they requested this but the form is not available on their website so I had to sit on hold for almost an hour to get them to email it to me. I am in a high risk XXXX, work full time and should not be going through all of this stress. I am afraid that I could possibly lose my house or that I am being charged more money than I should be. I have spent countless hours on the phone with TMS, XXXX XXXX, XXXX tax assessor 's office, XXXX XXXX tax department and others to try and rectify all of this. TMS has stated that I would not be getting charged any late fees because I have done more than my due diligence with this all but yet I have been getting charged fees the entire time. TMS is also charging my and sending payments for PMI but with my refinance the PMI is no longer part of my mortgage. There have been about 3-4 different payoff letters sent to my title company and the balances have been paid by homestead funding but the letters for more money keep coming. There was another sent today XX/XX/XXXX. TMS also never solidified my taxes. My property was subdivided before the closing of my home. Which was in XXXX of XXXX. The property was originally 23.5 acres and at closing my property was supposed to be 2 acres. The taxes I am currently paying both school and property are almost the same if not higher than what they were before my purchase. I understand that taxes go up every year but 2 acres is not equivalent to 23.5 acres. I have spoken with the town assessor and they have not been helpful nor did they ever send me the paperwork for grieving my taxes last year. They stated that because 10 acres were described as wasteland that it would not change the taxes that much. But my taxes have gone up and not down at all. The most confusing piece of my taxes is that some companies/agencies show that the property is 2 acres and others show it as 23.5 acres. If I own 23.5 acres than I understand why my taxes have not declined but if not, than I should not have such high taxes. There was also a email sent from a tax manager that there were 2 acres without any buildings on it that the previous owners own and the rest is mine. I would love clarification of this. As stated previously, I am in a high risk XXXX, during covid, I work full time as a XXXX XXXX XXXX XXXXr and have a XXXX XXXX XXXX. This past year has been extremely stressful without the mortgage and tax issues but with this on top, my stress is through the roof and not healthy for myself or my XXXX XXXX. TMS and XXXX tax assessor have not been helpful at all during this process. I understand COVID has hindered a lot but this is unacceptable. My credit has dropped over 100 points because TMS reported that I have not paid my mortgage since XXXX. I have reported TMS to the XXXX XXXX XXXX and will also be reporting them to the NYS banking department and NYS attorney generals office. I have attained a lawyer for this situation as well as this continues to escalate and not get resolved. I would very much appreciate being able to speak with someone over the phone about this as well.
11/04/2022 No
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • AZ
  • 856XX
Web
My husband and I purchased our dream home in XXXX and the mortgage is through XXXX, The Money Source. He did a refinance in XXXX ( i think ) to lower the interest rate. Because of slowed work due to XXXX my husband got on a forbearance plan in XXXX. Unfortunately, he passed away, unexpectedly, due to XXXX in XXXX of XXXX. When I called XXXX to see if there was any sort of credit life on the mortgage, that's where all my problems began. XXXX refused to give me any information on the account stating my name wasn't on the account. My husband had given them permission, in the past, to speak to me. After days of trying to convince XXXX of this, I gave up. According to Louisiana law, it's community property, so I was forced to pay for a succession, which made me sole administrator on the estate. Even after sending in the death certificate and court filed succession papers, XXXX STILL gave me the run around about speaking to me. I had to get my lawyer to call into their legal department to get this worked out. In the meantime, I tried logging into the account online and was locked out by XXXX. They refused payment of any kind, stating since a forbearance plan in effect & I was NOT on the mortgage, I couldn't change it or make payments, except for ALL monies to bring the account current. Financially, I still wasn't sure if I could bring it current. After my lawyer contacted XXXX, they finally spoke to me, kept offering for me to stay on the forbearance plan. I kept offering payments & they wouldn't accept any. They would call me on a daily basis, which is understandable, but I would answer and it would be silent, then the call would end. This happened CONSTANTLY! They ran my credit twice, without my consent, and kept trying to get me to assume the loan. My first ally there, XXXX, was working with me to get the loan " adjusted '' so the monthly note would be lower. Found out later, that was just their way for me to " assume the loan ''. So, I did not send in the reaming paperwork for that! After months of going back and forth about this, my frustration grew, not knowing if I could financially stay in the home and then they started talking forclosure! They kept & still are, trying to get me to assume the loan. My estate lawyer says under the state of Louisiana, since the succession is done & I'm the XXXX, I do NOT have to assume the loan! Someone told me about the federal government program through each state for XXXX affected families called Louisiana Home Owner Assistance Fund, so applied in either XXXX or XXXX. Once I told my XXXX ally I applied for the program he said " Great! This will show on your account & keep you out of foreclosure. '' A week or so later, a foreclosure note was posted on the door of the property! I called XXXX & asked why. They said it was already in motion, couldn't stop it, but not to worry, that they would remove it. I incurred over {$7000.00} in lawyer and court fees because of this! These prices have been added to what I owe XXXX. According to the court system, the forclosure is still showing up, but no sale date. I was accepted for {$25000.00}. I told XXXX numerous times if they accepted the money, I had help to pay the rest. XXXX contacted the state asking for the full amount of what it would cost to have my account brought current, which was just a little over {$52000.00}. The state suggested that they put me in mitigation to pay the rest. I kept telling XXXX that I would pay the rest. They NEVER accepted the money before the deadline of XX/XX/XXXX, so now XXXX is saying I've been denied. After calling the state back I was told that XXXX refused to accept the money by the deadline so I had to file an appeal for the money. I am still under the appeal process. XXXX told me, with my realtor on the phone, that if I accept the state money I can not sell the house for a certain amount of time and I would be forced to pay that money back. So we caled the state after that and the state told me that that is not true, that all XXXX had to do was accept the money. I found out yesterday, XX/XX/XXXX through an updated payoff from XXXX, that I will now be charged a daily {$29.00} late fee. XXXX told me over and over again that NO daily late fee would incur if I was actively working with them to resolve this. Financially I had to move out of that home. It has been on the market to sell for a year. XXXX is aware of this even though every time I call in I have to remind them that I no longer live on this property. Still today, they will not take any sort of payment whatsoever whatsoever from me.I have incurred so many lawyer fees and late fees that I will have to pay out of my personal money when it comes to selling this property, since the estate doesn't have any other monies. I'll have to pay to sell & be rid of our home! I have been through 3 allies through XXXX and can never speak to the same person. When I do call in, people have different answers for the same questions and it is frustrating and confusing.. They will say that I said things that I did not! I have tried emailing my ally, but never a reply. When I call in for my ally he is always busy and I can not speak to him. I was told that the emails I am sending him just goes to random people and not to him specifically to him and there is no way to email him specifically. A lawyer and realtor show my name and signature on the paperwork filed through the court system when my husband and I purchased it. The lady at the state for the Louisiana HAF & a lawyer suggested I contact this bureau. I should've found a way LONG ago to get this straightened out before all having to be worried sick, moving away out of fear of foreclosure and no place to live! I've done enough suffering after my husband 's death and shouldn't have to deal with this! This whole situation has literally made me ill in my stomach and forced my daughter and I to move away! Sorry for not knowing exact dates. I've been living in a fog for over 2 years after losing my husband, so I did not keep notes very well whenever I'd speak to XXXX. Thanks for your time! XXXX XXXX XXXX XXXX XXXX
12/06/2019 Yes
  • Mortgage
  • VA mortgage
  • Closing on a mortgage
  • NV
  • 89431
Web Servicemember
Servicing violation : I am being denied my right to assume a loan without a denial letter in fact the contrary they sent a notary to my house to sign the assumption paperwork but 1 year and 7 months later The Money Source will not put the loan in my name. My claim is for : The Money Source needs to put this loan in my name. Can I assume this loan or not?? Ignoring me and making me jump through hoops to pay my mortgage should be illegal. I am currently at risk if I needed an insurance claim per The Money Source! Difficult to make my payments and I need to retell my entire story to The Money Source rep to avoid their fees My credit does not benefit from me making the mortgage payments on time for almost 2 years. Of course this affects other financing I receive not benefiting from a higher score that a perfect mortgage rating would give me Hours and Hours of calls, and paperwork I need to do to try to get this in my name The Money Source is failing to put a loan in my name after I have signed their assumption paperwork 1 year and 7 months after my first attempt to assume the loan, I signed their assumption paperwork, their deed a year ago. Failure to perform. On XX/XX/XXXX my father passed away leaving his house to me in a trust. In the beginning of XX/XX/XXXX, I contacted The Money Source which was his mortgage lien holder and notified them of his passing. The representative informed me since the house was left to me in a trust that I can assume his loan. They gave me a list of documents to send to them including the trust and the death certificate. I received tracking information that they had received my packet. The Money Source did not contact me so I called again a few weeks later. They said sometimes it takes a few weeks for the packet to get to the right department and I made the house payment over the phone. XX/XX/XXXX : I called and they had no record of my packet and said the representative should not have instructed me to send it that I must talk with their assumption department. I made XXXX 's payment and was transferred to the assumption department who said this is a fast process and the loan would be in my name within 2 weeks. They instructed me to re-send my packet. I did incurring fees of a new death certificate and more postage and received tracking that it was received. XX/XX/XXXX : They never received it but the representative XXXX XXXX said it can take a month for the mail room to give my packet to the assumption department so I made XXXX 's payment and waited. This continued until XXXX where XXXX instructed me to just scan my paperwork over as he never received it. I did and within a week he had disclosures to me. In XXXX of XXXX the Money Source sent a notary to my house to sign a new deed assuming the mortgage. I signed on XX/XX/XXXX. I called XXXX and he said it would be in my name a few days after XXXX. XX/XX/XXXX, I called XXXX and left messages for a week-no call back. The next week I called and asked for the assumption department and got a different representative. I asked if XXXX was still working there. He said yes but he is away from his desk and would call me back but he didn't. I started panicking! Had this been a fraud? Had someone pretending to be The Money Source contacted me? Had I signed over my house to someone? I called and asked for a manager. I was told they can only send emails to managers and they requested a manager to call me back. The lady on the phone said there was no record of me trying to assume the loan at all. I started checking with the county to make sure the house was under my name-it was. No manager ever called me back. I started going through my dad 's paperwork. Was this indeed my dad 's lien holder? It is. Had it been sold to another company? Nope. Was The Money Source a legitimate company? I called every few days for 4 months and retold my story. It's not a fraud they are just failing to perform. In the meantime it's very difficult to make a payment. When I mailed it, they wouldn't post it for almost 3 weeks. I came very close to a 30 day late. They charged me late fees. I couldn't pay online because I don't have logins because the loan isn't in my name. Every time I tried to pay over the phone it was returned. This has been a year trying to figure out why it is getting returned but I have finally realized I think its because it is going over as the Estate of ... ... ... and my bank account says my name. Theres an over the phone fee that I paid a few times but Im so angry about it that I now every month retell my story to The Money Source Representative. The representative sends an email to their manager and says someone will call me but no one ever does. The representatives all say that the notes on my file are long and that it says I am interested in assuming the loan but only a manager can help me but nobody ever calls me back. In XX/XX/XXXX, I received an original death certificate back from The Money Source. One that I had mailed over a year ago that they claimed they never received. Out of the blue! I thought maybe someone is working on this. Nope! Also in XX/XX/XXXX I received a letter dated XX/XX/XXXX that said The Money Source was going to force home owners insurance on me. I said I have always paid my home owners insurance through the impound account and that I have insurance through XXXX XXXX. They said they knew that but my insurance is in my name and it needed to be changed to The Estate of ... ... .. I explained that they are failing to put it in my name! They need to change the loan NOT me changing the insurance. The Money Source representative said if I want it in my name I should refinance. I told her that I am being denied my right to assume a loan! She said if something happened and I needed to submit an insurance claim it would probably be denied. This is a gross failure to perform. I need to pay this month 's mortgage now but I have to do it before XXXX pacific time or their closed and be ready to be on the phone to re-tell my story for 30 min to avoid being charged their fees!
12/30/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • NH
  • 03102
Web
I have contacted this company over 40 times since XX/XX/XXXX. If you read the reviews on this company, The Money Source ( " TMS '' ) they have a XXXX star rating with similar issues to mine. Since XXXX alone I have contacted the company over 10 times, 2x a week. Most recently, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and many more times in between. I have been paying double per month for taxes. I have provided the company in XX/XX/XXXX my correct assessment amount provided to me by the XXXX Assessor 's Office which was mailed to me by them. In XX/XX/XXXX, I provided them with the 2nd/final tax bill for the XXXX tax year confirming I have been overpaying. I have been provided ZERO assistance. I have also even sent over 4 written requests through their TMS portal and emails to their customer service department with never ONE reply back. If you try and get help, you are bounced around to different departments for that department to tell you no, you should be speaking to the other department. I spend 1hr 2hrs on the phone each time with no end result. My escrow analysis requests have been closed more than 3x and no end result. I was finally able to have someone transfer me and get a hold of someone from their escalations team. Her name was XXXX. She confirmed that the escrow analysis requests were previously closed out by others on several occasions with no notes in the system as to why and who did it other than : escrow analysis is not needed at this time. Not to mention, the day before the escrow analysis was supposed to be completed on XX/XX/XXXX, I contacted them and demanded I speak to a manager and was ensured the escrow analysis would be completed on time. I called back the next day to be told the escrow analysis was closed out and is not needed at this time. I have tried speaking to supervisors and managers and can never get one. You will just be told they are too busy. They had estimated my tax payments to be {$8500.00} a year and my taxes are {$5100.00} a year! I have been overpaying hundreds of dollars a month and can not get it back, never mind getting my new monthly payment to be updated to the correct amount. I wish I could have this company no longer handle my taxes, however, this is also not an option because I would need to refinance and now the rates are sky high. I should not have to be overpaying monthly for them to just withhold money for taxes that are thousands less a year and if I do not pay that full minimum payment amount of {$2000.00} then this will affect my credit score. On XX/XX/XXXX I noticed over {$3700.00} had simply disappeared from my escrow balance and is no where to bee found. I did not receive an email, message through their portal, notification, letter in the mail or anything as to where this money has went. It is just simply gone. My payment amount still has not been updated and depending who I speak with I am being told it should be {$1700.00} but is still reflecting {$2000.00} for XX/XX/XXXX. I refuse to continue to overpay this amount per month and have to go through this again for over 5 months to try and get MY money back to me. I am requesting this be investigated ASAP as many others are having the same issue where unethical and fraudulent activity is being conducted through this company. I have no idea what is going on and can not get an answer or assistance from a manager or anyone. XXXX from escalations has been a God sent, but she is only able to assist with the tax payments being updated in their system which she has done. However, the escrow department and customer service department will not do their part in updating my monthly payment amount effective immediately to the {$1700.00} so I can STOP overpaying hundreds of dollars per month in escrow for it to sit there and if I want to ever get my money back, I will have to have them run ANOTHER escrow analysis which took over 4 months for them to get the request put in correctly, and then have to do this ALL over again and hope I even know where my money went. My ask is to ensure I receive written confirmation of where my {$3800.00} check is from my escrow balance disbursement and written confirmation that my payment amount will be updated to {$1700.00} ASAP, not effective XXXX or later this needs to be updated immediately as I refuse to go through this process again with a company that has been illegally withholding thousands of dollars in my escrow account. By law, they can only withhold 2 months worth of escrow payments and they have been withholding an entire year work of taxes for next year, now I dont know where it went. I also want to add my entire XXXX taxes were already paid so this money in my escrow account was excess money just sitting there and yet they expect me to continue to overpay. They need serious training and adjustments to their entire company throughout the customer service department, escrow department, tax department, etc. They all have no idea what is going on and you will get different answers speaking to anyone in this company and never get assistance. I am currently 6 months pregnant and have been dealing with this my entire XXXX. I will be filing a formal company with the court in my City/State and had notified them of this back on XX/XX/XXXX and to date still never received a reply back. I request this company be throughout investigated and also please read all of the reviews about this company as it seems to be a common practice that they do to others. I only have {$930.00} in my escrow balance and just last week I had over {$4600.00}. This balance was AFTER my XXXX taxes were paid in full. As of XX/XX/XXXX statement I had {$7700.00} in my escrow balance account. On XX/XX/XXXX my 2nd tax payment XXXX {$3000.00} was paid leaving an escrow balance of {$4700.00}. As of today, XX/XX/XXXX, there is only {$930.00} in my escrow balance. Therefore, I am missing {$3700.00} that just vanished from my escrow balance in a week. See attached documents for support.
10/24/2021 Yes
  • Credit reporting, credit repair services, or other personal consumer reports
  • Credit reporting
  • Problem with a credit reporting company's investigation into an existing problem
  • Was not notified of investigation status or results
  • PA
  • 191XX
Web
Dear Sir or Madam, 1. TMS Account Number:XXXX Please correct this inaccurate information on my credit report. I recently pulled my credit report from your Bureau and my attorneys and I had a chance to go over my credit report and in amazement, that you have decided to report me 30 days late on this account in XX/XX/XXXX, and 60 days late XX/XX/XXXX 90 days late XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX as well as 120 days late in XX/XX/XXXX. I immediately disputed this information with TMS and the results of the investigation came back " verified ''. Not only was I never late on this account, but according to the Fair Credit Reporting Act ( FCRA ), the information furnisher is required to notify me of the insertion of negative listings. Since I have disputed the lates with the creditor, and you obviously " verified '' them, I am very curious as to what kinds of " records '' you may have for this alleged account. I am very confident that you are in violation of the ( FCRA ) and ( FCBA ) sections ( 1666, 1666a. 1666b., and 1666c. ) as stated below : 1666. Correction of billing errors ( b ) Billing error ( 4 ) The creditor 's failure to reflect properly on a statement, a payment made by the obligor or a credit issued to the obligor. ( 5 ) A computation error or similar error of an accounting nature of the creditor on a statement. ( 6 ) Failure to transmit the statement required under section 1637 ( b ) of this title to the last address of the obligor which has been disclosed to the creditor, unless that address was furnished less than twenty days before the end of the billing cycle for which the statement is required. ( 7 ) Any other error described in regulations of the Bureau. 1666a. Regulation of credit reports ( a ) Reports by creditor on obligor 's failure to pay amount regarded as billing error After receiving a notice from an obligor as provided in section 1666 ( a ) of this title, a creditor or his agent may not directly or indirectly threaten to report to any person adversely on the obligor 's credit rating or credit standing because of the obligor 's failure to pay the amount indicated by the obligor under section 1666 ( a ) ( 2 ) of this title, and such amount may not be reported as delinquent to any third party until the creditor has met the requirements of section 1666 of this title and has allowed the obligor the same number of days ( not less than ten ) thereafter to make payment as is provided under the credit agreement with the obligor for the payment of undisputed amounts. ( b ) Reports by creditor on delinquent amounts in dispute ; notification of obligor of parties notified of delinquency If a creditor receives a further written notice from an obligor that an amount is still in dispute within the time allowed for payment under subsection ( a ) of this section, a creditor may not report to any third party that the amount of the obligor is delinquent because the obligor has failed to pay an amount which he has indicated under section 1666 ( a ) ( 2 ) of this title, unless the creditor also reports that the amount is in dispute and, at the same time, notifies the obligor of the name and address of each party to whom the creditor is reporting information concerning the delinquency. ( c ) Reports by creditor of subsequent resolution of delinquent amounts A creditor shall report any subsequent resolution of any delinquencies reported pursuant to subsection ( b ) to the parties to whom such delinquencies were initially reported. 1666b. Timing of payments ( a ) Time to make payments A creditor may not treat a payment on a credit card account under an open end consumer credit plan as late for any purpose, unless the creditor has adopted reasonable procedures designed to ensure that each periodic statement including the information required by section 1637 ( b ) of this title is mailed or delivered to the consumer not later than 21 days before the payment due date. Because I take my credit very seriously, I contacted every name and account that was listed on the report. I was again very shocked by the multiple names, account numbers and figures. Included with this letter, is every letter written to those who have hampered my ability to obtain credit. I believe that any judge that looks over the report would agree that it is a violation of both the FCRA, CCPA and FACTA. The following accounts were listed on your report and I have demanded from them a full accounting and five years worth of records to see if their accounts were in violation of the FAIR CREDIT BILLING ACT ( FCBA ). We also demanded signed contracts, agreements or any legal paperwork that would tie us to the following accounts. Under the FCRA, you are required to conduct an investigation on this account if I request it. I DEMAND to see all 100 % verifiable proof that I was indeed Verifiably late on these accounts and the creditor fulfilled its obligations under ( FCBA 1666 ( a ) ( 2 ) ), As I was never notified of a billing delinquency on my accounts, which the creditor must do under section ( FCBA1666 ( b ) ( 6 ). I DEMAND to see proof that I was mailed my statement to the correct address notifying me of both payment due date and delinquency of payment on the account. If you can not provide 100 % Verifiable proof and proper documentation that the CREDITOR fulfilled its obligations under the ( FCBA ) and ( FCRA ), I therefore demand these late payments be removed from my account or I will be forced to be in contact with the Attorney General of my State and the Consumer Financial Protection Bureau. I therefore am submitting my written request to you to conduct an investigation. Per the FCRA, you have 30 days to conduct this investigation and respond to my request. If you do not respond within this time period, per the FCRA, you must remove this negative information. Thank you for your time, XXXX XXXX SS # : XXXX Date of Birth : XX/XX/XXXX BCC : Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX XXXX, Iowa XXXX
04/15/2019 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • WI
  • 539XX
Web
The Money Source mishandled my escrow account. I am now being held financially liable for an escrow overage that has occurred based on the company 's untimely payment of my City Tax payments in a consistent manner. In the State of Wisconsin annual land valuations are completed in late summer with property tax bills for that year released in XXXX and payments due either in full on XX/XX/XXXX of the following year, or in two increments with payments due on XX/XX/XXXX and XX/XX/XXXX of the following year. I closed on my mortgage in XX/XX/XXXX. Because this was an FHA loan escrow of insurance and taxes is required. XXXX property taxes were paid upfront at closing to allow for the escrow account to accrue for the following year payments. XXXX City Taxes were paid from escrow by the Money Source in two payments in XXXX and XX/XX/XXXX as due. They also paid out an escrow overage to me in XX/XX/XXXX. In XX/XX/XXXX the Money Source then also paid my XXXX City Taxes in full, even though they had not yet come due. XXXX property taxes have a due date of either full payment by XX/XX/XXXX, or two payments due by XX/XX/XXXX, and XX/XX/XXXX. Because the Money Source chose to pay my City Tax bill in full on XX/XX/XXXX, one full month early, this caused an escrow overdraft of {$220.00}. In the month of XX/XX/XXXX my annual escrow disclosure was completed and reflected a shortfall of {$3000.00} based on 2 upcoming City Tax payments due in XXXX of the full annual amount of property tax, which had already been paid. I disputed this escrow disclosure and have attached the letter of dispute that I sent, along with all of the attachments to the company via registered mail. Upon following up with the company I was treated very poorly by both Customer Service and the Tax Department. I have put in countless hours of contact with this company. They finally agreed to review my escrow and release a new annual escrow disclosure. This update did address issue of improper City Tax amounts due in the XXXX calendar year, but the company continues to maintain no wrong doing on their handling of my escrow account. My issues with the handling of my escrow are that the Money Source initially paid my XXXX City Tax bill in 2 increments as due in XXXX and then proceeded to change their handling of my property tax payments by paying my XXXX taxes one full month early, in full, in XX/XX/XXXX. Had they waited until the end of XX/XX/XXXX when the payment was actually due, the account would not have overdraft. Had they stayed on course with incremental payments, I would have had a positive balance of {$1900.00} after the first incremental payment. If they had paid in full in XX/XX/XXXX, I would still have had a positive balance in the hundreds. When the Tax Department made the payment in XX/XX/XXXX and realized the account would be overdraft they made no attempt to contact me regarding my wishes on how to handle this account. This is fraud. A Financial entity can not choose to provide a loan without the consumer 's knowledge and consent. Something they essentially chose to do. Had they contacted me I would have chosen to have them pay the taxes in a more timely manner in two increments to avoid overdraft. When I addressed this they blamed my township stating I had not completed the necessary township documents indicating how my City Taxes should be paid. No municipality would have a stake in the handling of payments, this is the job of the financier. When I discussed the City Tax bill with the Money Source I was told by three ( 3 ) different employees- 2 in customer service and 1 in taxes, that the Money Source is not billed for City Taxes. I was told first that they are " invoiced '', and second and third that they receive a " Statement of Amounts due ''. My original mortgage terms were for a monthly payment of just under {$1100.00}. I am now responsible for a monthly payment of {$1200.00}. Also of note is that I initially contacted the Money Source in XX/XX/XXXX to inquire about payment of my upcoming City Taxes due in XXXX. I was told at that time that no action is needed on my part and that the Money Source would handle timely payment. In XX/XX/XXXX I again contacted the Money Source to inquire about the escrow overage check that was mailed to me and inquired whether I should pay that to my township towards property tax, or to insurance. I was told that was the amount that was owed based on money in the escrow that was over the required cushion and estimated payments due. Record of these contacts are included in attachments. I can also provide phone records of the number of contacts made to resolve this recent escrow issue if needed. I requested that the company pull the recordings of my contacts, especially with my contact with " XXXX '' from the Tax Department because of his very inappropriate conduct with me by phone. He went so far as to tell me that I do not know what I am talking about, I am wrong, and he initially refused to pull up my information to assist me with my concern. I find it very interesting that a national financial conglomerate is fraudulently mismanaging federally-backed home loans with obviously unskilled and incompetent staff, leading to burdensome financial obligations on the consumer. This, at a time when the housing crisis is balancing precariously on the verge of comeback, concurrent with near historic unemployment rates only gradually inching down ; placing mortgage payments at, oftentimes, hundreds of dollars higher than original mortgage terms on a class of [ mostly ] low to moderate income, or high risk consumers who have federally backed home loans for these specific reasons. I have an FHA Loan simply because I purchased a manufactured home that would have required too high of a down payment and closing costs for a conventional home loan- which I did qualify for through my bank.
10/20/2020 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • CA
  • 960XX
Web
I have been trying to get a loan modification from my loan servicer, XXXX XXXX XXXX for over a year now. I had had 12 months of perfect on-time payments prior to XX/XX/XXXX. Then I took a teaching job that paid significantly lower than my previous jobs, and when I asked to modify my loan, I was told to miss 2 payments and that then they would help me. I was told I could not get help until I was 60 days late.I tried to be proactive, but XXXX put me in a position to only be able to receive help from them. I should have tried to refinance with a different company while I had the12 months perfect on-time payments, but I foolishly listened to my mortgage lender.This hit my credit, which I have been struggling to build back up, very hard, and has continued to tank my credit score, as it has still not been resolved over a year later.Now my credit is so low and my payments look like they were late and/or missing, and I can't do business with any other refinance companies. They switched servicers in XXXX from XXXX to The Money Source and lost some of my payments. I had to find the payments on my bank statements and prove to them I paid. I have been through the loan modification process. They ended up offering me a higher payment than the one I was already struggling to make. I had to take out payday loans, borrow from familly, etc. just to make the3 trial payments. I made trial payment in XXXX of XXXX, XX/XX/XXXX, and XX/XX/XXXX. I was told Not to make my XXXX payment because my new modified payment would be coming. It did not come because they were in the process of changing servicers. They reported me as not making the payment to the credit bureaus.They changed servicers in XX/XX/XXXX and lost some of my payments and also took over 60 days to send me my new loan modification monthly payment, which was higher than the one I had already been making. I was told that my credit would not be reported negatively while they changed over servicers. This did not happen. I was hit hard again. Since they lost some of my payments, I did not send them any more money because they still hadn't verified with me where the payments went. Why would I keep sending an incompetent company money when they can't track it or provide a loan modification that helps? I am now 6 months " late '' on payments because I have been waiting for XXXX to do their basic job to provide customer service. They finally said that had a loan modification offer for me and that they would send a notary to my home. They booked one 2 more weeks out, and then called to cancel the day before.I had taken the day off from work to be there for the notary. Then they booked another appointment. I asked to see the documents before the notary arrived. I wanted to know what my new monthly payment was going to be before the notary arrived. I was not accomodated. When the notary arrived, she had in her possession my new loan modification packet. She told me that I was entitled to receive a copy of it at least 30 days prior to the notary arriving. When I saw the " new '' monthly payment, I was so angry! Not only was it higher than I was already paying, but they have tanked my credit in the meantime. It states on their own document that if anything in the new loan modification agreement was not as agreed upon by myself and the company, that I should not sign it. I did not sign it. I was then told that the entire loan modification process had to begin again, from the very beginning, with a new loan application in order for me to receive any help. I am an educated person. I am an English teacher by trade of 18 years. I am good with paperwork. However, each of the 4, yes 4, times I have filled it out, it takes about 5-6 hours to photocopy everything. Not to mention that I sent it via USPS return-receipt Priority mail 3 times, and I sent it via fax 1 time ( thanks to a friend of mine with a fax machine at his business. I live in a rural area and faxing is very expensive ) and they lost my application, pieces of it, all 4 times. Even though I have proof they signed for it and recieved it. Even though I made my own copy of it. 94 pages! I call. They don't call back. I email the loss mitigation department and no one calls back. I had to get to abrasive to finally get basic service. They have turned a nice person into a you know what! I don't want to fight with them anyore. Finally, I got so demanding that they assigned me a " Customer Ally '' who I have called 5 times in the past 2 weeks to get the status of my application which they signed for on XX/XX/XXXX. He has not called me back. I've emailed loss mitigation. They have not called back. I have spoken with a lawer. I have documented this situation so well that I literally have a 12 inch tall stack of paperwork proving they can't do their basic job. The right hand does not know what they left hand is doing. Now, this last time, they are stating that the application came to them incomplete again! I am livid! But I a copy. It cost me {$24.00} to make a copy to send and a copy for me to have proof. It costs approximately {$15.00} each time plus postage to send it Priority, return receipt, and Certified via USPS mail. Whoever is scanning and uploading their docs is not doing their job. I could hand my documentation over to a lawyer and they would eat this company alive in court. However, I do not want to spend my time doing that. I have already wasted a year trying to get help from this company. This is a basic service to provide as a USDA FHA Federal housing lender! Now I am working as an essential worker at the local grocery store as my teaching job has disappeared due to the pandemic. I am making a lot less money than I was. This company was incompetent way, way before the pandemic hit. There's no excuse for what they have done to my credit, my fianancial livelyhood, and my nerves.
11/30/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Closing on a mortgage
  • PA
  • XXXXX
Web
On XX/XX/XXXX, I closed on the refinance of my home with XXXX Bank with XXXX XXXX XXXX as the settlement closer. I wired over {$14000.00} to pay closing costs, which includes pre-payment in full of real estate taxes for the XXXX tax year, 3 months pre-payment of real estate taxes homeowners insurance for the XXXX year and 3 months prepayment of escrows. All of these items are shown on my Closing Disclosure Statement which I signed at closing. On XX/XX/XXXX, I received confirmation from XXXX Bank that the deal funded. After closing, I received a letter dated XX/XX/XXXX, that my mortgage was transferred to XXXXXXXX XXXX on behalf of XXXX XXXX. Then I received a letter dated XX/XX/XXXX, with a " Notice of Mortgage Servicing Transfer '' from The Money Source aka TMS that the servicing of my mortgage loan is scheduled to be transferred to XXXX XXXX effective XX/XX/XXXX. Next, I received XXXX XXXX XXXX letter of XX/XX/XXXX, that XXXX XXXX has purchased my mortgage loan on XX/XX/XXXX, and the mortgage servicer for my loan purchased will be XXXX Mortgage XXXX DBA XXXX XXXX. This is the same servicer who serviced my loan for 10 years prior on behalf of XXXX XXXX and prior to refinancing my mortgage on XX/XX/XXXX, as well as reimbursed my escrow for real estate taxes after paying the XXXX XXXX real estate taxes at closing. I paid my first mortgage payment due on the new mortgage by XX/XX/XXXX to XXXX XXXX. On XX/XX/XXXX, I paid the XX/XX/XXXX mortgage payment to XXXX XXXX. I noticed when making this payment I had a negative escrow balance of {$300000.00} that had a prior negative escrow balance of {$4200.00}. A portion of my mortgage payment {$600.00} went towards my escrow each month. I also noticed that I was not credited from closing the 3 months of prepaid escrowed. Monies that should have been credited to my escrow when I paid my monthly mortgage was paying a negative balance that I did not know what it was for. On that same day after making my XX/XX/XXXX payment, I called XXXX XXXX 's customer service regarding an error in my escrow balance and asked why there was a negative escrow balance when it should be a positive balance going forward after closing. The response I received was that it was a mortgage expense without giving any specifics and to call XXXX XXXX. I called XXXX XXXX who reviewed my Closing Disclosure Statement and noticed the error and escalated to upper management. I also reviewed a statement I received in the mail from TMS and noticed that there was a negative {$4200.00} prior to them transferring the servicing of the loan to XXXX XXXX. I also called TMS and later received a returned call and was told that they paid the XXXX real estate taxes and I had to reimburse them for the payment. TMS 's Statement also indicates their affilation with XXXX XXXX or XXXX. I informed them that I already paid the real estate taxes in full at closing and why they were paying it and not conducting their due diligence. Again they stated and I need to pay them back. Again on that same day I called the XXXX, PA XXXX Collector to verify that they received my payment from closing towards the XXXX real estate taxes ( school ) and she received TMS payment XXXX The tax collector returned my call and informed me that she received my real estate tax payment after closing in XXXX and on XX/XX/XXXX she received a payment from TMS through XXXX and returned the payment on XX/XX/XXXX. I informed XXXX XXXX in writing and by phone. They stated that my escrow account will be corrected to reflect all payments made at closing and mortgage payments currently being made. Despite that nothing has been done. My final correspondence with XXXX XXXX was on XX/XX/XXXX when I told them that it was unacceptable that I have to wait for TMS to get reimbursed before they correct my escrow balance meaning I have to double pay for real estate taxes and it was not my fault what this mortgage servicer done and I am being forced to pay through XXXX XXXX. Around XXXX pm on XX/XX/XXXX, I received two unsolicited emails from XXXX Bank and XXXX XXXX. The email from XXXX Bank stated titled " Thank you for Contacting XXXX Bank '' and further stated that they escalated the matter to their executive management. The email from XXXX XXXX had an embedded secure message which I did not open since my computer flagged it as potential malware. Overall, I have not been credited in my escrow account since closing the 3 months of prepayments towards my escrow for real estate taxes, and homeowners insurance and not credited a portion ( {$600.00} each month ) of mortgage payments paid for XXXX, XXXX and XX/XX/XXXX and I am being forced to pay TWICE for real estate taxes for the XXXX and XXXX school tax year which amounts to over {$8000.00}. I continue to have a negative escrow balance when I pay my mortgage with XXXX XXXX and as recent as my XX/XX/XXXX payment made was notified that I should pay the remaining negative balance in my escrow account. Therefore, what is happening is that I will be forced in a potential foreclosure situation if I don't pay the negative balance which I do not owe to TMS. The monies I paid 3 months in advance for my escrow and {$600.00} paid for the months XXXX, XXXX, and XXXX and the extra payment of a full year of real estate taxes already paid are illegally going into someone's pocket in violation of RESPA, Mortgage Servicing Laws, Fair Housing, Discrimination laws, etc. I want reimbursement all my monies taken plus damages due to these violations which has left me stressed and frustrated. I continued to be damaged monthly by monies being taken each time I make a mortgage payment and further requested to replenish monies in escrow when my escrow account at XXXX XXXX should be accruing a positive balance each month since closing.
02/28/2019 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • LA
  • 70131
Web Servicemember
Background : Home purchased in XX/XX/XXXX on an FHA XXXX Rehab loan using XXXX XXXX XXXX XXXX. The Money Source appears to have purchased our debt, with an effective date of XX/XX/XXXX. Borrowers do not remember official notification or authorization for our account to be transferred. Significant Dates : ( D.1 ) XX/XX/XXXX : we received a bill from TMS with a significant change in our monthly amount due. My spouse contacted TMS ( XXXX ) to inquiry what changed. We discovered that there were discrepancies in the escrow account and that TMS would investigate. ( D.2 ) XX/XX/XXXX : TMS ( XXXX ) contacted my spouse to inform us that our real estate tax wasnt entered correctly, and so TMS paid the bill. TMS then unilaterally developed a payment plan over 12 months which would increase our monthly payment by approximately $ 800/month. Paraphrasing from TMS ( XXXX ), TMS paid the bill, so you will be paying TMS back and now paying the correct payments towards escrow on future billing cycles. We explained that the significant change in monthly billing cycles is still unacceptable due to the significant financial hardship it would cause and that we should not be penalized for their error. TMS ( XXXX ) stated that she understood our concern and that the matter would be looked at further by TMS and someone would call us back. ( XXXX ) XX/XX/XXXX : Because no representatives from TMS had contacted us, my spouse called them to inquire what other options were available. Eventually, a supervisor/lead ( XXXX ) was placed in touch with my spouse. Paraphrasing TMS Supervisor ( XXXX ) information was entered incorrectly, but we have to pay for the XXXX their ) deficiency. TMS Supervisor ( XXXX ) then recommended that our insurance be lowered to decrease monthly bill cycles to compensate for the high monthly payment. Due to my status as active component military TMS Supervisor ( XXXX ) also recommended that we pursue local tax exclusions/benefits to limit our monthly payments. Because of my spouses concern that our conflict was not being resolved, she asked for TMS Supervisor ( XXXX ) to contact me ( primary borrower on account ). ( XXXX ) XX/XX/XXXX : TMS Supervisor ( XXXX ) contacts primary borrower via voicemail as requested, but fails to leave an extension number to be reached. I was on hold for approximately 38 minutes before being routed to an operator/customer care representative and then placed on hold for another approximate five minutes to contact the TMS Supervisor. TMS Supervisor ( XXXX ) apologized for the delay and failure to provide adequate contact information beyond I am the only ( XXXX ) in the department and one of four team leads. TMS Supervisor ( XXXX ) then explained to the me ( primary borrower ) that the property taxes was not entered or calculated correctly, and that the responsibility rests with the borrower. TMS Supervisor ( XXXX ) then again recommended that I adjust my insurance to compensate for the error, however, I see this as an inappropriate/unauthorized person directing what risks I should take as both an owner and borrower. He further recommended that I ask local authorities for exemptions due to my military status. TMS Supervisor ( XXXX ) offered to extend the re-payment to 24 or possibly 36 months to compensate for the escrow shortfall. I ( primary borrower ) requested additional documentation from TMS due to my concern about how, where, and why my payments were being used. I also stated that in my lay knowledge, I understood and considered TMS to be in multiple violations of the Real Estate Settlement Procedures Act ( RSPCA ), especially in consideration of potentially improperly applying or crediting payments, neglecting to pay taxes, and failing to provide information on workout options. Additionally, I stated to TMS Supervisor that I may write a formal notice of error in accordance with the RSPCA and file a complaint with the XXXX XXXX XXXX XXXX if my lay research into the issue indicated that was appropriate to do so. TMS Supervisor ( XXXX ) explained that he understood, was sorry, and indicated that the mistake may have been TMS. Although the TMS Supervisor ( XXXXt ) was courteous and polite on the phone, I do not feel that he is/was enabled to remedy the problem in a manner that I feel is reasonable. Other concerns noted leading to decision to file complaint : ( C.1 ) TMS stated to spouse that they did not know they were responsible for property taxes or amount, but they had previously paid it. ( C.2 ) Escrow account appears to be at a zero balance since the beginning of XXXX, but no notice was given to the borrower until a spike of monthly payments was encountered. ( C.3 ) Escrow disbursements appear to be erratic. ( C.4 ) Length of time observed to review our account seems longer than necessary, which has placed consumer into danger of being significantly overdue on the account while the discrepancies are identified and rectified ( XXXX ) Following the XX/XX/XXXX escrow analysis, borrower paid minimum amount billed ( {$1800.00} ) or more for each billing cycle. Borrower was moderately delinquent on payment only once during the lifecycle of the mortgage, which was rectified once borrower was made away of a banking/funds error during a XXXX season. This delinquency was not significant enough to incur a late payment fee. ( C.6 ) After researching similar complaints regarding TMS on the Consumer Complaint Database of the Consumer Finance Protection Bureau , the borrower is concerned that this may be a trend for TMS ( example : XXXX, XXXX, XXXX ).
08/26/2021 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • VA
  • 23453
Web
My mortgage has been serviced by The Money Source ( TMS ) since XXXX. We encountered some issues affecting our income and had to file for chapter XXXX bankruptcy in XXXX. While in the process, the trustee requested that I apply for a modification in order to resolve some shortfall in our plan 's budget, so in XX/XX/XXXX I made my first attempt and cited that in addition to financial hardship, my wife and I were going to assume full responsibility for mortgage payments ( my father is the co-signer on the loan but he has since retired and we don't expect him to pay towards that expense any longer ). The problem with TMS is that they are very poor on communication and slow in a way that almost feels intentional. My first two attempts at modification applications were fumbled due to slow/no feedback about issues with my application or missing documents and the process would time out automatically. The third attempt was a success though and I made three consecutive trial payments of {$2500.00} - much better than the original {$3200.00}. The time came for acceptance documents to be signed, which felt like a great achievement due to the clumsy and difficult process leading up to it. Papers were signed and returned and I called to verify the documentation had been received. I checked back periodically and some ten days later, I was told there was a minor issue with the acceptance documents - a mismatch on the signature dates. Frustratingly long time to disclose such a simple error, but ok. Digital copies were re-issued to me but in separate files ( both with identical names even though one copy was for the mod. and the other copy was for a partial claim to re-absorb mortgage arrears back into the loan ). I happened to only print and sign the document labeled as " modification '', assuming the second PDF was a duplicate since both had the same file name and were both 16 pages long. My father and I paid out of pocket to rush the notarized signatures to TMS and called feverishly to make sure they had been received. Operators told me that my dad 's signature was received but that mine had not arrived yet ( this was about 5 business days after sending it via 2-day USPS and tracking info said it was received ). Finally, two business days before my acceptance forms expired someone left a note that my documents had been received but that it was only the modification and the partial claim was missing - my three applications and three months of trial payments did nothing ... the mod was dead in the water. I was asked to re-apply for the fourth time. I gritted my way through a fourth attempt immediately, sending all my details, the application, statements, etc. and things were looking good. By this time, I had a competent " customer ally '' named XXXX who is incredible as a customer service provider. Roughly a week later, she encountered some confusion. My application appeared to be missing or canceled and XXXX spent hours looking through notes and updates to my account - finally discovering that an automated process from my failed third application had cleared the entire cache on my account and somehow took my most recent documents down with it ( this was something technical that I have no idea about - maybe they can explain why their system failed so readily ). That meant I had to apply a fifth ( 5th ) time. I waited a few days to make sure no more bugs in the system were lingering to undo my efforts and then I began the flurry of documents, applications, statements, etc. Once that was out, I checked in from time to time and eventually found out there were some financial documents needed for my dad ( even though I explained that my wife and I are handling the payments ). The note sounded like they needed some proof of income for his retirement, so I sent what I had and later on heard that they needed a specific bank statement showing deposits, which I supplied. Time wore on and then there was a comment about some missing docs for Social Security income. At this time, I was traveling more than usual for work and had very limited access to the items requested so I was hampered in my efforts to get what I thought they were asking for. The underwriting department seemed to change the note - like a moving target and of course, yet again ... time ran out. I am beginning my sixth application to TMS for a modification that I already completed trial payments for. It has been a year. The trustee handling my Chapter XXXX bankruptcy has dropped my case due to inability to supply modification documents - an expense of at least {$3000.00} that I will not recoup. I will make sure to calculate the exact total of that expense for future reference. The Money Source has been accruing interest on my account all this time. I was granted a forbearance in order to help buy some time for the modification process, but that window will close next week, making my entire balance due and jeopardizing my mortgage and my credit. The forbearance also cuts off my options for refinancing, which I have attempted. All providers say they can't help until well after the forbearance ends. I have spent an astounding amount of time, energy, money, and my family has had to pay by enduring a version of myself that was stressed out constantly due to being plagued by a totally incompetent mortgage company whose constant fumbling and poor communication posed a constant threat to the roof over our heads. TMS is not competent as a loan servicer for someone in my circumstances.
09/08/2021 Yes
  • Credit reporting, credit repair services, or other personal consumer reports
  • Credit reporting
  • Incorrect information on your report
  • Account status incorrect
  • CA
  • 92009
Web
1. prior to XXXX of XXXX, we contacted The Money Source to obtain a forbearance of the payments due under our mtg Loan, because of financial hardships that we were having due to the COVID-19 emergency. 2. In XXXX of XXXX, after several prior discussion over a period of time, and subject to and in accordance with the CARES Act and the policies of TMS, we entered into a forbearance agreement with TMS, by which TMS made a forbearance, by which TMS agreed that we would not have to make payments under the Loan for ninety ( 90 ) days 3. In XX/XX/XXXX, TMS informed us that we had the option to submit a loss mitigation package to try to get the money owed, from the ninety ( 90 ) days of forbearance, added onto the back end of the mortgage Loan. 4. It is noted that no mention whatsoever was made at any time by the TMS personnel to us that submitting a loss mitigation package would have any adverse effect on our credit score. 5. By the end of XXXX XXXX we had submitted to TMS the loss mitigation package and all related documents, and were told by TMS personnel that the review process for the approval by TMS of the loss mitigation would be completed within forty-five ( 45 ) days. 6. During XXXX XXXX pursuant to electronic messaging by TMS to the us, utilizing the TMS online portal for our account, TMS notified the us that the completed loss mitigation package application had been received and was being reviewed by TMS. XXXX. Throughout XX/XX/XXXX, we made multiple recorded phone calls to TMS to ( i ) ascertain the status of the loss mitigation package application, and ( ii ) confirm that we would not suffer any adverse credit reporting action by TMS as a result of this loss mitigation package application being submitted. 8. In XX/XX/XXXX, we received a totally unexpected notification from our credit monitoring service, XXXX XXXX, that our scores had dropped XXXX points. 9. we immediately reviewed our credit report which showed that on XX/XX/XXXX, TMS had reported us to be 120+ days late in the payment of the Loan, despite the fact that section 4021 of the CARES Act requires that a lender report the account as current for all loans for which the lender has given a COVID-19 payment accommodation like the following accommodations granted by TMS. 10. It is noted that there had been no negative credit reporting by TMS up until XXXX XXXX XXXX 11. On XXXX XXXX XXXX, we called and spoke to TMS personnel ( in a recorded telephone call ) who assured us over and over again that once our loss mitigation application was complete, all negative credit reporting would be erased. 12. In XX/XX/XXXX, we called TMS to determine ( i ) the status of our loss mitigation application, and ( ii ) when we could again start paying the mortgage payments on the Loan. TMS personnel advised us that we could make a payment for XXXX, but that the underwriting process for our loss mitigation application was still not complete. 13. In XX/XX/XXXX, about a week later, we again called TMS to determine the status of the our loss mitigation application, and were told by TMS personnel that ( i ) everything was complete, ( ii ) someone at TMS should be contacting us soon to go over documents, and ( iii ) the new mortgage loan ( that would apparently replace the Loan ) to be given by TMS to us would start on XX/XX/XXXX at a 2.85 % rate. 14. On XX/XX/XXXX, we called TMS because another mortgage payment under the existing Loan was technically going to be due soon. TMS personnel again told us that ( i ) someone at TMS should be contacting us within two weeks to go over documents, and that ( ii ) our new mortgage with TMS was now going to start on XX/XX/XXXX. 15. In this XX/XX/XXXX call, we again asked the TMS personnel when the negative credit reporting would be erased by TMS. We told the TMS personnel that at this point, the credit report incorrectly shows that we were 160+ days late in payment of the Loan 16. Also in this XXXX XXXX XXXX call, in response to our inquiries, the TMS personnel told us for the first time that the negative credit reporting by TMS would actually not be erased because of the following : * We were technically no longer in a Forbearance; * A forbearance agreement is the only thing that protects the credit reporting ; and Back in XXXX of XXXX, when we submitted our loss mitigation application, such submission automatically kicked us out of forbearance and terminated the forbearance agreement. 17. In XXXX we finally got our new mortgage and were shocked to find that the rate had stayed at 5.5 %, not the 2.85 % that we were originally told. We called TMS to find out about our credit reporting and were told once again that the negative credit reporting would not be erased. we chose not to sign the new mtg documents until ( i ) our credit was fixed and ( ii ) we were given new documents with the correct interest rate. 18. As of today we are still in forebearance on our loan. We have worked with a lawyer on this matter and on XX/XX/XXXX he sent TMS a certified letter demanding our credit be fixed and our interest rate come down and we have yet to here back from them. I am attaching his letter to this complaint. We are desperate to get this situation taken care of. We have had so many missed opportunities because of this negative credit reporting and being stuck in this forebearance.
09/08/2021 Yes
  • Credit reporting, credit repair services, or other personal consumer reports
  • Credit reporting
  • Incorrect information on your report
  • Account status incorrect
  • CA
  • 92009
Web
1. prior to XXXX of XXXX, we contacted The Money Source to obtain a forbearance of the payments due under our mtg Loan, because of financial hardships that we were having due to the COVID-19 emergency. 2. In XXXX of XXXX, after several prior discussion over a period of time, and subject to and in accordance with the CARES Act and the policies of TMS, we entered into a forbearance agreement with TMS, by which TMS made a forbearance, by which TMS agreed that we would not have to make payments under the Loan for ninety ( 90 ) days 3. In XX/XX/XXXX, TMS informed us that we had the option to submit a loss mitigation package to try to get the money owed, from the ninety ( 90 ) days of forbearance, added onto the back end of the mortgage Loan. 4. It is noted that no mention whatsoever was made at any time by the TMS personnel to us that submitting a loss mitigation package would have any adverse effect on our credit score. 5. By the end of XX/XX/XXXX, we had submitted to TMS the loss mitigation package and all related documents, and were told by TMS personnel that the review process for the approval by TMS of the loss mitigation would be completed within forty-five ( 45 ) days. 6. During XX/XX/XXXX, pursuant to electronic messaging by TMS to the us, utilizing the TMS online portal for our account, TMS notified the us that the completed loss mitigation package application had been received and was being reviewed by TMS. 7. Throughout XX/XX/XXXX, we made multiple recorded phone calls to TMS to ( i ) ascertain the status of the loss mitigation package application, and ( ii ) confirm that we would not suffer any adverse credit reporting action by TMS as a result of this loss mitigation package application being submitted. 8. In XX/XX/XXXX, we received a totally unexpected notification from our credit monitoring service, XXXX XXXX, that our scores had dropped XXXX points. 9. we immediately reviewed our credit report which showed that on XX/XX/XXXX, TMS had reported us to be XXXX days late in the payment of the Loan, despite the fact that section XXXX of the CARES Act requires that a lender report the account as current for all loans for which the lender has given a COVID-19 payment accommodation like the following accommodations granted by TMS. 10. It is noted that there had been no negative credit reporting by TMS up until XX/XX/XXXX. 11. On XX/XX/XXXX, we called and spoke to TMS personnel ( in a recorded telephone call ) who assured us over and over again that once our loss mitigation application was complete, all negative credit reporting would be erased. 12. In XX/XX/XXXX, we called TMS to determine ( i ) the status of our loss mitigation application, and ( ii ) when we could again start paying the mortgage payments on the Loan. TMS personnel advised us that we could make a payment for XXXX, but that the underwriting process for our loss mitigation application was still not complete. 13. In XX/XX/XXXX, about a week later, we again called TMS to determine the status of the our loss mitigation application, and were told by TMS personnel that ( i ) everything was complete, ( ii ) someone at TMS should be contacting us soon to go over documents, and ( iii ) the new mortgage loan ( that would apparently replace the Loan ) to be given by TMS to us would start on XX/XX/XXXX at a 2.85 % rate. 14. On XX/XX/XXXX, we called TMS because another mortgage payment under the existing Loan was technically going to be due soon. TMS personnel again told us that ( i ) someone at TMS should be contacting us within two weeks to go over documents, and that ( ii ) our new mortgage with TMS was now going to start on XX/XX/XXXX. 15. In this XX/XX/XXXX call, we again asked the TMS personnel when the negative credit reporting would be erased by TMS. We told the TMS personnel that at this point, the credit report incorrectly shows that we were 160+ days late in payment of the Loan 16. Also in this XX/XX/XXXX call, in response to our inquiries, the TMS personnel told us for the first time that the negative credit reporting by TMS would actually not be erased because of the following : * We were technically no longer in a Forbearance; * A forbearance agreement is the only thing that protects the credit reporting ; and Back in XXXX of XXXX, when we submitted our loss mitigation application, such submission automatically kicked us out of forbearance and terminated the forbearance agreement. 17. In XXXX we finally got our new mortgage and were shocked to find that the rate had stayed at 5.5 %, not the 2.85 % that we were originally told. We called TMS to find out about our credit reporting and were told once again that the negative credit reporting would not be erased. we chose not to sign the new mtg documents until ( i ) our credit was fixed and ( ii ) we were given new documents with the correct interest rate. 18. As of today we are still in forebearance on our loan. We have worked with a lawyer on this matter and on XX/XX/XXXX he sent TMS a certified letter demanding our credit be fixed and our interest rate come down and we have yet to here back from them. I am attaching his letter to this complaint. We are desperate to get this situation taken care of. We have had so many missed opportunities because of this negative credit reporting and being stuck in this forebearance.
03/22/2021 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • TX
  • 75126
Web
I have attempted multiple contacts to speak with a manager in the XXXX XXXX department regarding resolution on my account, and have not heard from a manger to date. I lost my second job last year due to the pandemic. Therefore I put my mortgage on forebearance for only three months. After that three month time period, I went into a trial payment period, where I paid a lower amount for several months. During this time, I made every payment on time as promised, not missing one payment. In XXXX my loan was approved for modification. TMS did not send out the paper work until the end of XXXX. On XX/XX/XXXX, I had a notary service come to my door with paperwork to sign to complete the loan modification. Unfortunately, on XX/XX/XXXX my wife, who is co-signor on the mortgate, passed away suddenly and unexpectedly. Therefore she could not sign the paperwork, as it has to be notarized, and she was no longer alive. I called TMS in XXXX to advise them my wife passed away and was unable to sign the documents. The representative told me not to worry, and to just send a copy of the death certificate once I received it. I received a letter in the mail, the first week of XXXX advising that the loan modification was not approved because TMS had not received the modification agreement back. I was baffled and surprised at this because I called in previously and told them that my wife passed away which is why I could not send in the agreement. Why would they send me a denial letter, when I had already told them what happened and they told me not to worry. There was not additional communication from TMS after I called and told them this, so I had no idea that they would deny the loan modification for the paperwork not being sent in. No one from TMS ever called and told me it was an issue, the only thing the representative told me when I called in XXXX was not to worry. This caused excessive stress and emotional drain. I have already been dealing with XXXX and many other personal issues due to the untimely passing of my wife, and to have TMS completely hit me out of left field with this was crushing. I reached out to XXXX several times after to get some assistance on these extenuating circumstances, only to be lied to and not get any return calls from management in the Loss Mitigation Department. Please review the following timeline of events. XX/XX/XXXX I spoke with XXXX XXXX who advised me that he would have a manager from loss mitigation contact me within 48 hours. XX/XX/XXXX I called back into TMS and spoke with a representative named XXXX. I explained to her my situation and she advised she would have a manger call me by the end of the business day. I waited and never received a call. XX/XX/XXXX I called back into TMS and spoke with a representative named XXXX in Loss Mitigation. She was helpful and attempted to assist me, but agreed due to the complexity of my situation and extenuating circumstances she would not be able to assist me and advised me that a manager would follow up by the end of the day. She stated the follow up time is 48 hours and since I spoke with XXXX XXXX on XX/XX/XXXX, that a manager would definitely be calling me by the end of the business day ( XXXX ). I never received a call. To date, I have not had any assistance on getting resolution and a remedy on my account. As a customer, this has been a very stressful process dealing with TMS. It almost feels like they have no compassion and no incentive in helping customers resolve their accounts. I say this because everyone I have spoken to can not tell me how to resolve my account. No one knows whats going on, and everyone I have spoken with have given me different answers. This is why I asked for assistance from a manger, and still have not received a callback. I work in the customer service industry and it is unbelievable that a company can exist in todays age with this destitute level of service. I feel as if TMS has no interest in helping me. The only thing I have gotten in the mail is threatening letters about the possibility of losing my home, but every time I have tried to speak with a manager to get some sort of remedy on my account, I am told I will receive a callback, only to not receive a call. I have been under severe emotional distress since the sudden and unexpected passing of my wife. TMS have shown no compassion towards my situation. They have given me no answers or solutions to rectify my account. I have made my payments on time every month as promised for the trial payment period and as a customer I should have had a better level of service, especially since my hard earned dollars are paying their employees salaries. But the fact that the managers from loss mitigation will not even return a call, leaves me to wonder what TMS true intentions are. Because of this degree of service I will be filing a federal complaint as well as a complaint with the Better Business Bureau, and contacting the local news authority regarding this experience. Im sure there are probably many other TMS customers out there who might be going through a similar experience and I feel it is the only resolution at this point.
05/06/2021 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • WI
  • XXXXX
Web
We refinanced with TMS the money source with a closing date of XX/XX/XXXX. Since XXXX TMS has mishandled our escrow. In XXXX they paid 2 years worth of taxes in one tax year and charged us a escrow shortage. They claimed that double tax payment was caused due to them having to pay our tax payments annually and not in partial payments. They claimed this was due to the law changing how FHA loan taxes need to be paid. The first -payment was madeXX/XX/XXXXfor the full amount of the tax bill. The second payment was made onXX/XX/XXXX in the full amount of the tax bill which is actually a month early as per our tax bill our taxes are due on or byXX/XX/XXXX. By making this double tax payment it caused our escrow to be short in which TMS changed our mortgage payment amount to make up the difference and shortage caused by the double tax payment. They insured us in XXXX that this will never happen again and that we will now be on a annual payment plan for our taxes from this point on and moving forward with the tax disbursement being made when the tax bill is due in XXXX. However that was not the case. In XXXX our taxes were paid on the following dates according to our tax receipts from XXXX XXXX. A installment was madeXX/XX/XXXX in a partial payment not the full payment amount like they stated it would be. A second installment was made onXX/XX/XXXX which would have completed our tax payment for the year of XXXX In XXXX our taxes were paid on a partial payment plan once again with the following dates - XX/XX/XXXXand a second installment made onXX/XX/XXXX. Them payments were for the tax year of XXXX. OnXX/XX/XXXXanother tax payment was made for the whole amount due. That payment was for the tax bill of XXXX. We received a escrow account disclosure statement onXX/XX/XXXX when we were informed of the shortage. That is when we noticed that 2 years worth of taxes were paid in 1 tax year causing the shortage once again just like in XXXX. We contacted XXXX XXXX who confirmed that 2 years worth of taxes were paid in XXXX tax year. That double year tax payment caused our escrow to be short by XXXX. The same thing happened in XXXX. TMS claimed that the reason they made the payment on them dates was due to WI law changing on how taxes were paid for a FHA loan. They stated the same thing in XXXX yet in XXXX and XXXX they paid the tax payments in partial payments. Then they changed how they were paying our taxes in XXXX. We strongly feel our escrow has been mishandled since XXXX. We contacted TMS in XXXX informing them that we noticed the error. We were told that they would fix the error by XX/XX/XXXX. however that did not happen. We have been in contact with TMS weekly since XXXX with no explanation as to why they keep changing how they are paying our tax payments. I paid a payment in the amount of XXXX in XXXX after waiting for them to re run our escrow. That payment amount would have covered XXXX and XXXX payment amount without the escrow shortage. They then applied XXXX to XXXX payment and held XXXX payment in a holding account refusing to apply it to our account. They did not attempt to re run our escrow until the end of XXXX where they decided that they would spread the escrow shortage out over 24 months which would change the payment amount from XXXX to XXXX. However they still applied the XXXX to XXXX. When I asked why the escrow was only re ran in XXXX TMS stated that was because XXXX payment was already applied. Today I spoke to XXXX who told me she could re run the escrow back to XXXX but that again would change our payment amount. She estimated that our payment amount would be XXXX a month if they re run it back to XXXX. TMS has yet to take accountability of the mishandling of our escrow which has caused a shortage 2 times now. Forcing us to claim 2 years worth of taxes on our federal and state tax returns. According to Transunion credit report TMS added over XXXX onto the end of our loan in XXXX and another XXXX in XXXX. Them adding the money onto the end of our loan caused our credit to drop over 133 points as it looks like we took out money on our loan. We don't understand why we are being charged twice for the errors and mishandling of our escrow account. TMS is demanding we pay the shortage. I notice on the XXXX page over 107 people have had the same issues with TMS mishandling their escrow. I informed XXXX todayXX/XX/XXXXthat according to our contact I could write TMS and have them disburse the payments to us where we could then pay the taxes to insure they are being paid in the proper tax year to avoid shortages which I plan on doing, as it does state that in our contract with TMS regarding our escrow account. This has been very upsetting over the past months as I have spoken to several people with no real resolution. I have spent hours on the phone with TMS weekly since XXXX. Some of the Member 's hung up on me, I was told not to call them, I was told I would be receiving a call back in which none of that was true. I feel TMS is taking advantage of people with FHA loans as we have to have a escrow account with them due to having a FHA loan.
04/30/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CO
  • 805XX
Web
This is the letter I sent to my realtor, mortgage broker, and attorney. Hey all - I first want to start this long story with a Thank You for even taking 5 minutes to help me out! I am honestly at the end of my patience 's and considering legal action against XXXX simply because this has been going on for the better part of a year now. XXXX as of XXXX decided to hit XXXX and my credit even though they said they would never do that because they could plainly see the issue is on their end. My credit has fallen over XXXX points these past 4 months... The only response I get is that it should be removed but it might take 2-3 months for the credit agency to catch up. Sounds like grounds to some type of lawsuit which I don't have time or money for but to get someone's attention it seems like the only road I can take. Attached are some documents that support my case that I have shared multiple times with various XXXX agents. I am also going to show you a lengthy time line of absolute XXXX. TimeLine - From what I know : XX/XX/XXXX - XXXX received a payment and posted that payment 100 % to principle. XX/XX/XXXX - XXXX started a annual escrow analysis which found that my account was short after taxes and insurance XX/XX/XXXX - XXXX 's chose to change insurance because of excessive rates by XXXX ( we were unaware of the escrow shortage at this time ) XX/XX/XXXX - XXXX & XXXX spoke about the shortages and insurance changes which resulted in not as much shortage moving forward we agreed to pay {$200.00} until they could come back with another analysis. XX/XX/XXXX - XXXX & XXXX spoke about the escrow analysis and I agreed to pay an additional {$960.00} because I absolutely hate having my payments change. ( OCD Budget issues I have : ) ) XX/XX/XXXX - XXXX sells XXXX 's loan off to XXXX XXXX - Zero communication takes place. We continue to pay XXXX. XX/XX/XXXX - Continue to pay XXXX XX/XX/XXXX- XXXXXXXX XXXX receive a statement resembling a mortgage payment from XXXX XXXX ( first time we had an idea of our loan being sold off ). We immediately called XXXX because we were very confused. XXXX stated that they were the new servicer of the loan but they were now selling it back to XXXX. I needed to call XXXX for future payment information. At this time after talking to XXXX we agreed to NOT make XXXX 's payment because we didn't have an account number. XXXX told me they would contact me when my account was set up again. XX/XX/XXXX - End of month XXXX finally calls to give me account number information. I then released 2 payments, one for XXXX and for XXXX. XX/XX/XXXX - I was told they think they had it all figured out and then subsequently started reporting to our credit agency that we were late. When I called them back they said the escrow was fixed ( a lie ) and that I still owed money because they refunded me. I said prove it - I have never received money from XXXX other than a rejected payment in XXXX that I reissued. Note : they have never been able to prove that statement. XX/XX/XXXX- Still going on and no one can figure it out. I have over 20 hours tied up on recorded calls ( thank god because I will subpoena those as evidence ). I am now dealing with a high level supervisor whose name is XXXX. XXXX & XXXX ( guy ) have also been handling my case the last 2 months. I spent 3+ hours on the phone with TMS XXXX XX/XX/XXXX and what was discovered was the XXXX payment being posted incorrectly. They told me they could fix anything that is over 6 months old. I told them that was unacceptable since I started saying something wasn't right in XX/XX/XXXX. I had a scheduled call for Friday ( XX/XX/XXXX ) at XXXX which did take place but they had no new information other than we are working on it. I have ZERO confidence in these people. They do not know how to fix their problems. I have another call this coming Wednesday XXXX at XXXX again. In the past these guys have never called me when we schedule a call. Instead they call me days later when I am in meetings and then mark me down as unresponsive. Total XXXX. My final thoughts - See attached all my payments. The history is pretty much spot on - I pay the next month 's mortgage before the 1st of every month ( way before it is due ). I am not going to pay them again for payments that I have already paid. They need to fix all of their errors. My GL has me owing them {$0.00} XXXX has me owing over {$5000.00}. Oh I forgot to state the countless amounts of letters and threats they have sent me about foreclosure. I am currently sitting on about 3 inches of paper that has been mailed to me which I consider to be harassment since I have been wanting to find a resolution. XXXX has painted me in the corner. Ruined my credit which is making it now hard to run my business and personal life. I can not go do business somewhere else so what do I do? Again - I appreciate any and all the help you can provide. I totally understand if there is nothing you can do. I will file a report with the consumer finance department this weekend because I would be shocked if XXXX actually figures this out.
09/30/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • NY
  • 10128
Web
I am writing to document several issues with my mortgage ( account XXXX ) while it was serviced by The Money Source ( TMS ), and lack of resolution on their part for two months after they transferred servicing. On XX/XX/2020, we received noticed from XXXX XXXX informing us that the servicing of our mortgage would transfer to them from The Money Source effective XX/XX/2020. We received no notice of this change from TMS. In addition, we did not receive a statement/bill for XXXX payment from TMS. Upon receipt of the letter from the new servicer, we made the XXXX payment to XXXX XXXX. In addition, we went online to the TMS website to cancel our payment. However, in attempting to log in to the TMS platform, the system displayed a notice that our account was no longer valid. Given the error message that the account XXXX no longer existed, we made the logical conclusion that they canceled the previous scheduled payment. On XX/XX/XXXX, the XXXX XXXX appropriately withdrew the XXXX payment. On XX/XX/XXXX, TMS inappropriately withdraw {$460.00} ( equivalent to a months payment ). On the morning of XX/XX/XXXX, after several aborted calls due to extremely long hold times, I spoke with TMS Customer Care agent XXXX and informed her of the unauthorized withdrawal by her company. XXXX request that I email her a evidence of the inappropriate withdrawal, which I provided. XXXX told me that the payment would be forwarded to the new servicer. Given the payment was not authorized, I requested a refund, that the refund be expedited, sent electronically, and that the refund included a goodwill payment or interest for the time the money was improperly held. I was then told that I would receive a call back prior to the end of the day with an update on my request. I received no such call back. On XX/XX/XXXX and XX/XX/XXXX, I sent follow up emails asking for an update and received no response beyond an automated email confirming receipt. On XX/XX/XXXX, I spoke with TMS Customer Care agent XXXX about my situation. Upon reviewing the notes on my account, XXXX informed me that they had no record of a refund request being submitted. I then asked to speak with a manager. After several minutes of holding, I was told that no managers were available and that one could call me back within 24-48 hours, which I stated was unacceptable and that I would continue to wait. After greater than 30 minutes of waiting, I was finally connected to a manager, XXXX. In speaking with XXXX, he noted that TMS system showed that I had been mailed statements in XXXX, XXXX, and XXXX, as well as a transfer of servicing letter on XX/XX/XXXX. None of these 4 documents ever made it to our mailbox. In addition, the mortgage was not finalized until XX/XX/XXXX, so no XXXX statement would have been mailed. XXXX then told me the servicing was not transferred until XX/XX/XXXX, that TMS had forwarded the payment at that time, and therefore could not issue me a refund. On XX/XX/XXXX, I finally received an email response from TMS, which stated that they saw I had called and been taken care of. I promptly responded noting that the issue had not been resolved and requested evidence of the wire transfer from TMS to XXXX. On XX/XX/XXXX, I sent another email to TMS following up on my request and received a response on XX/XX/XXXX which noted We are still working on a resolution. We should have an update from our boarding team very soon. On XX/XX/XXXX, I followed up again via email and asked for resolution no later than XX/XX/XXXX. This request went unanswered. On the evening of XX/XX/XXXX, I sent an additional follow up. This request also went unanswered. On XX/XX/XXXX, I sent an additional follow up. I received a response on XX/XX/XXXX, which provided clarification on Escrow Refunds. This was irrelevant to the issue and further, there is no escrow on the loan. I responded same day, reiterating the request for documentation of the wire transfer from TMS to XXXX. On XX/XX/XXXX, I sent a final email noting that we would pursue legal action against TMS if the issue is not resolved in the short term. On XX/XX/XXXX, I called and spoke with TMS Customer Care agent XXXX, who was helpful but unfortunately provided no good information. XXXX informed me that TMS had withdrawn the money from my account, but had no record of where the money currently was. I then found the contact information for XXXX XXXX at The Money Source on their XXXX page, where she had invited people who had posted issues to contact her directly. XXXX did call me back that day, and the following week we connected and she noted that the transfer had finally been made to XXXX XXXX. The money ultimately was not reflected within our account at XXXX until XX/XX/XXXX, a full two months after it was inappropriately withdrawn. In summary, TMS made an unauthorized withdrawal from our account, held it hostage for two months, and did not mail a transfer notice as required, nor monthly statements.
08/24/2022 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • NJ
  • 07305
Web
To Whom It May Concern : I kindly request your assistance in investigating this matter on my behalf, and on behalf of other members of the community who may now experience entities in the mortgage industry taking advantage of clients in the wake of the mortgage issues brought on by the pandemic in XXXX. I can see signs that some of these mortgage companies will begin to prey on clients with the current increase in interest rates. I lost my job in XXXX and was able to take advantage of the Federal Forbearance Program under the company that owned my loan at the time, XXXX XXXX XXXX. In XXXX, I received a letter from The Money Source, with offices in Arizona and Connecticut, informing me they had taken over my loan. My property is in XXXX, New Jersey. In XX/XX/XXXX, I asked to begin repayment of my loan, and simultaneously submitted a Loan Modification application, which they approved. My interest rate was decreased to 3.5 %, and there was also a Partial Claim document for the amount that had accrued over the period of the deferment. In XX/XX/XXXX, I followed the instructions of the Notary sent to me by The Money Source and signed the documents per her instructions. She verified my signature in person and took a copy of my fingerprints because according to her, that would ensure there is no claim of mortgage fraud. SHE instructed me on how to complete and sign the documents. Around that time, there was beginning to be sporadic news about the potential for interest rates to increase. I was therefore suspicious when the notary only appeared with the Partial Claim documents, but not the Loan Modification documents with the lower interest rate noted. I was forced to print my own copy of the Loan Modification document, which I then submitted. When I followed up with The Money Source, I was informed that the way I was instructed to sign by the Notary could not be accepted. I had signed and dated some of the pages the previous day not the signature the Notary was witnessing however, the Notary instructed me to change the date so they would be consistent with the page she was witnessing and notarizing. I did that and initialed them in front of her. Despite having the Notary witness me perform that in front of her, and adding my fingerprint to the document, The Money Source informed me they would not accept it and that I must redo all the signatures and notarization. I got new documents notarized and resent them to The Money Source. An employee called to inform me they received the documents before the deadline. However, they are now claiming that I printed double-sided and that is not acceptable. I have asked for instructions and documentation outlining that the double-sided documents can not be accepted. However, I have received none to date. I submitted yet another set of notarized documents. The Money Source has acknowledged receiving the document in time, and I have the XXXX tracking information showing it was received on time. However, after acknowledging receipt of the documents, they are again claiming they will not accept the documents, this time falsely claiming they did not receive the documents on time at the correct office, and/or that there was a date typed in instead of handwritten in. The documents were sent to the same office as the previous double-sided documents. I asked for a copy of these rules or instructions, but none was produced. It is clear that every time I submit documents to the Money Source, they will find an excuse to deny until they are in possession to take my property. My balance keeps increasing due to these delays. I've been asking to commence payments since XXXX. I have completed every document The Money Source has asked me to complete and submitted as instructed. I therefore must conclude that there are nefarious intentions at play here. They are telling me that I must reapply, but they are not able to guarantee the previous terms. Not only will reapplying waste more time and increase my arrears, but it is also clear that despite my compliance on every count within the prescribed timelines, The Money Source wants to withdraw the terms of the loan modification agreement because interest rates have increased. That is unethical, predatory, and wrong. The Money Source employees are now advising me to do a short sale of my property, despite my asking to make payments. They are deliberately allowing my arrears to increase beyond a point I can afford, and then seek possession of my property. Advising me to do a short sale when Im asking to begin payment is unconscionable. I must believe that there are other people in the same situation, and I kindly ask you to investigate and intervene before there is a crisis. Thank you, XXXX XXXX
12/06/2022 Yes
  • Mortgage
  • Other type of mortgage
  • Closing on a mortgage
  • CA
  • 91304
Web
XXXX XXXX induced me by fraud and material omissions into a higher interest loan that cost XXXX. They claim the loan closed XX/XX/XXXX and I canceled too late on XX/XX/XXXX. You closed the case because alameda said I canceled 5 days too late. SHAME ON YOU!!! I read the loan contract after a reasonable time! I rescinded after I read it. The law says reasonable time to read. The law says if a date and time are critical the contract must include a statement Time is of the Essence. 5 days extra to read is valid under the law but you failed to uphold the law, reward a criminal lender, punish a victim of financial crime. Plus XXXX did agree to cancel the loan. They blocked me, refused to answer letters, and sent XXXX Attorneys to intimidate me and extort escrow money that I can prove the attorneys knew XXXX never paid! The letter the att sent me said the company agreed to cancel the loan. Obviously time was not of the essence because that letter was XX/XX/XXXX open till a week later. But you closed the case because XXXX lied to you and I cant leave the house because of stress fear physical and emotional serious ongoing injury. Also dont forget that this loan was induced by lies and material omissions otherwise known as fraud. They had all the loan docs on XX/XX/XXXX but lied and said I needed a certificate of occupancy for the appraisal so they intentionally postponed the application till the interest rates went up a point n half late XXXX. Then they postponed because they said they needed the new rental to have signed leases. But Ive had an ongoing rental here for 22 years. It was a group home for dual diagnosed then for Covid I merely closed off a couple doorways and got a separate address. But alameda had all the leases back in XXXX. But later they solicited forgery on different leases. They did this twice. Then they still didnt use the real leases XXXX and XXXX but used fraudulent docs in the loan. How are you ok with that! I told them the purpose of the loan was to retire out of the area. They made assurances to a broker in XXXX who wouldnt let me but a retirement home without the lenders assurances of XXXX cash out in 2 months. I entered the purchase agreement put down XXXX and lost the retirement house because the loan didnt finish till XX/XX/XXXX? This serves as proof they knew I was retiring g out of area. They knew I was going to live off rental income. They knew my XXXX old mom and I had the bank accounts jointly they used for the loan. But after I finally finished reading the XXXX pages of the loan and did the outside legal research needed to understand the codes therein only cited and to try but was not able to find sections referred to in sections that could go to multiple sections and none were clearly identified as the section it was referring to in the multiple sections. Its just unknown what sections several terms are implying. Ya so it took a few extra days to understand. A reasonable time. Only after I read the contract did I find the fraud. The loan takes away XXXX unit of rental income for XXXX yrs. The loan has occupancy requirements expressly and implicitly. This is a fraud because they knew why I was getting the loan and they gave me a bag of coal. But you seem to find thats all ok. And Im just the one who is wrong. Then I waited for the lender to cancel all interests as the cancel doc says. Prove it to me. And return my money spent getting g this loan. They agreed to cancel XXXX XXXX. I waited till mid XXXX for them to perform. They never did. No proof offered. Refused to give back my money. Intentionally extorted unpaid escrow money. So I gave back money per contract even though they failed to perform. You agreed w lender its all ok. So now Im in a loan for XXXX XXXX more than before with alameda. From XXXX XXXX to XXXX XXXX. I paid points to lower. But its still XXXX XXXX for XXXX years because of the cost. I have an extra XXXX and XXXX to pay to alameda for XXXX yrs for no bennifit to me. XXXX claims they got XXXX from me. They claim they paid me XXXX and XXXX in cc pay off. Yippie I apparently got XXXX of Benifit and I have to pay {$280000.00} for that XXXX. But you say thats great. Go predatory lenders. XXXX the homeowners. Yippie. Thanks a bunch for nothing. This loan is fraud all over the place. This loan is void. This loan is canceled. But even if it was 5 days late and you somehow try to force time is of the essence it doesnt matter because the company AGREED to cancel. What is happening with the law. How are you ok with all of this unlawful conduct. Why are you even here if victims of financial crimes dont matter. Cancel this loan!!!! Make the co put me back in the first loan they did at XXXX XXXX
05/16/2022 Yes
  • Mortgage
  • VA mortgage
  • Incorrect information on your report
  • KS
  • 665XX
Web Servicemember
We are currently trying to purchase a new home, however, The Money Source ( TMS ) has incorrectly reported to the credit bureaus that payments were late during the time frame between XX/XX/XXXX to XX/XX/XXXX. During those months, we were in a forbearance and loan modification process under credit suppression meaning that TMS was not to report to the credit bureaus. Unfortunately, TMS had in fact reported payments being late for the months of XX/XX/XXXX through XX/XX/XXXX, when they were not supposed to be reported. We just sold the home that we had the mortgage with TMS through and are trying to purchase a new home ( not with TMS ), but when my husband applied for a pre-approval, we were told that TMS had reported that payments were late during XX/XX/XXXX through XX/XX/XXXX. Although we did make the payments, nothing should have been reported to the credit bureaus at all for those months. We found this information out on XX/XX/XXXX ( Wednesday ) after TMS business hours. - Thursday, XX/XX/XXXX, I called TMS at XXXX XXXX XXXX XXXX XXXX to ask for documents stating that the payments were made and I was told that I would have them sent to me via email as well as a request was being put in to their credit department to have the credit reporting error corrected. I called again at XXXX because I had not received those documents that were supposed to be emailed to me, this time I did received the documents which consisted of a list of payment transactions and the forbearance/loan modification documents that we had previously signed. I called again on XX/XX/XXXX at XXXX XXXX XXXX XXXX XXXX because our lender stated that they would like a letter from TMS stating that payments were made or that there was an error in what was reported to the credit bureaus. I was told that a request would be put in so that I could get a letter stating that they incorrectly reported information to the credit bureaus during the months where we were under credit suppression, I was told it would take 24-48hrs. On Monday, XX/XX/XXXX I called again at XXXX XXXX XXXX XXXX XXXX to ask about the status of the letter which I never received. It was then that I was told that the credit department sent out a letter to the credit bureaus on XX/XX/XXXX for correction for those XXXX months. I asked for a copy of that letter to be sent to me via email and was told that a request for that letter was sent to have it emailed to me and it could take 24-48 hours. I wait till the end of the week ( Friday, XX/XX/XXXX ) to call again because I still have not receive any type of letter and my husbands credit report still was not updated. I called at XXXX XXXX XXXX XXXX XXXX to ask why this is taking so long. Again, I was given the run around that a request was put in for correction as well as a letter and basically I would just need to wait. I call again on Saturday, XX/XX/XXXX, at XXXX XXXX XXXX XXXX XXXX to inquire about the letter again because at this point it had been over a week and well over the 24-48 hour time frame that I was given numerous times. In this phone call, I was told a request could be put in to draft a letter stating that during those XXXX months, there should not have been any reporting to the credit bureaus and that TMS has sent letters to the credit bureaus for correction. I was told by this employee of TMS, who was looking in to the account, that the letter only stated to correct ONE month ( XX/XX/XXXX ) instead of the XXXX months that needed to be corrected. This person told me that they put in yet another request to have the entire XXXX months corrected with the credit bureaus as well as a complaint to have the issue looked in to as to why this turned in to such a difficult situation on their end. At this point, I am frustrated, and asked to speak to the supervisor. After being put on hold twice while trying to reach their supervisor, I was eventually told that there was only one supervisor working that day and that they were currently on the phone and would give me a call back. I never did receive a phone call. All I am asking for is a letter that I can give to my new lender stating that the payments were made and that corrections are being made/sent to all three credit bureaus. However, I keep getting the run around. I can't ever speak to the same person each time I call. Each person tells me something different. I keep getting told I will get a letter in a certain time frame or a call back and never receive a letter nor a call. This is an issue that stemmed from a mistake that they made and I am having to call multiple times and repeat myself multiple times all to get told that " a request was put it ''. Please help me!
12/29/2021 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • IN
  • 46815
Web
The Money Source, Inc ( TMS ) purchased our mortgage from XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX ) effective XX/XX/XXXX. We, ( my husband and I ) had an executed Loan Modification Agreement ( attached as Rushmore Loan Modification_Executed ) between us and TMS through XXXX dated XX/XX/XXXX. This modification was to bring our account current and lower our monthly payment. Our account should have been current with a payment due to TMS on XX/XX/XXXX. I received a welcome packet from TMS that recommended I download their app to manage our mortgage. When I downloaded the app and got our account all set up, I realized that I couldn't make our first payment to TMS because our account indicated that we owed 6 months worth of payments at the old mortgage rate and owed a total of {$10000.00}. This was completely inaccurate as we should have only owed {$1300.00} due on XX/XX/XXXX. I contacted TMS on XX/XX/XXXX to explain that we have a modification agreement. They told me at that time, they show that they have the modification documents and it could take up to 60 days for our account to reflect the correct amounts, due to the process of TMS purchasing our mortgage from XXXX. They accepted my XX/XX/XXXX payment on XX/XX/XXXX over the phone. I called again on XX/XX/XXXX, but still there was no change and our account still reflected we were past due. Again they ensured me that everything was fine and it could take 60 days. I called again on XX/XX/XXXX since the 60 days had passed and our account still showed past due. This time the representative told me that TMS still had not received the executed modification documents from XXXX ( which someone else told me they already received ). I then called XXXX and requested the executed documents since TMS failed to do so. I received the documents from XXXX by email and uploaded them to XXXX on XX/XX/XXXX. On XX/XX/XXXX, I had to call in again to make a payment because my account had still not been updated even though they had the executed documents for over a month. On XX/XX/XXXX I had to call in again to make a payment because after 2 months of having my executed documents, TMS still had not updated my account. I was furious at this point and asked to speak to a supervisor. I was put in touch with XXXX at XXXX. # XXXX. XXXX reviewed my account and all of my calls and complaints. She said she was going to put in an escalation ticket on my account and she would call me back on Monday, XX/XX/XXXX. This day I also received a Modification Packet from TMS by XXXX ( attached image of Packet and Exhibit B ). I did not request this modification packet, but TMS was trying to force us to sign a new modification while refusing to accept our prior executed modification agreement with them ( through XXXX ). This packet included " Exhibit B '' which stated " Prior Loan Modification Agreement- The XXXX XXXX was previously modified by a Loan Modification Agreement dated XX/XX/XXXX, recorded on XX/XX/XXXX, in XXXX or XXXX XXXX, Page, N/A, Instrument No. XXXX, of the Official Records of XXXX XXXX, Indiana '' XXXX So, based on this " Exhibit B '', TMS is aware of our prior loan modification agreement, is acknowledging it in a legal document, and refusing to update our account to accurately reflect the agreement. In addition, XXXX did not call me on Monday, XX/XX/XXXX as promised. Another representative did call me on Tuesday, XX/XX/XXXX to let me know that they are going to accept my prior executed modification documents. This lady ( I didn't get her name ) told me that they would send the documents to my County to have them recorded and it could take 60 days. However, according to my executed documents, they have already been recorded in my County, so I'm not sure why TMS is stalling again on updating my account. I have attached my prior executed modification agreement ( which I would like honored and my account appropriately reflecting ). I have also attached proof that TMS sent me a new modification packet with Exhibit B in it ( again, we did not request a new modification with TMS since we are current on our mortgage ). As of today, XX/XX/XXXX, XXXX still has not updated our account. The account is currently showing that we are 6 months behind and owe {$10000.00}. In addition to this issue, TMS also sent us an inaccurate Escrow Account Disclosure Statement that says there is expected to be a shortfall and they are increasing our payment on XX/XX/XXXX to {$1500.00}. This analysis is based on inaccurate mortgage information and they can not increase our payment to {$1500.00} when it's supposed to be {$1300.00}. The analysis they sent us is also attached.
01/21/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • GA
  • 30328
Web
The Money Source ( XXXX ) failed to timely pay my XXXX real estate taxes despite sufficient funds available in my escrow account for timely payment. The tax was due to be paid by XXXX no later than XX/XX/XXXX. XXXXs failure to timely pay my XXXX real estate taxes has resulted in the countys issuance of a NOTICE OF INTENT TO ISSUE XXXX on my residential property. Since XX/XX/XXXX, I have spent several hours communicating with XXXX about the tax bill and attempting to ensure XXXX paid it. Of course, it is XXXXs responsibility to make this payment from my escrow account without my prompting or involvement, but XXXXs negligent processing services, including its poor to non-existent communications, prompted me to take action to try to ensure payment was made so I would not suffer any adverse consequences. During this time, I have made numerous phone calls, uploaded documents via my online account with XXXX, uploaded documents via special website pursuant to directions obtained from the XXXX tax department during a phone call, and sent numerous emails to XXXX customer service about the tax payment issue ( none of which received anything other than an automated response ). On XX/XX/XXXX, supervisor XXXX in the XXXX tax department stated that XXXX customer service confirmed to her that I uploaded my tax documents ( done via the Upload Documents feature accessed through my XXXX online account ) on XX/XX/XXXX and again in XXXX. The Upload Documents feature provides that the Department selection indicates Customer Care is the proper location for tax documents, and XXXXs emails directed me to upload my tax documents via the XXXX Mobile App, which is the same system available through my online account. However, multiple tax department personnel later informed me XXXX does not actually route tax documents uploaded via the mobile application or online account document upload feature to the tax department! I also uploaded tax documents to the special document upload website for tax documents when a XXXX tax department representative informed me of the site, requested that I upload documents and then provided me related instructions. Thus, as of at least XX/XX/XXXX, XXXX had notice of the information necessary to pay the taxes or conduct any related inquiry, but it failed to do so in a timely and reasonable manner. In addition to making multiple phone calls and uploading documents, I sent multiple emails to XXXX about the tax bill, to which XXXX responded only with auto-response emails. No XXXX representative ever contacted me in response to any of my emailed inquiries. Emails to XXXX and some of TMSs auto-response emails include emails dated XX/XX/XXXX, XX/XX/XXXX ( two emails from me, including one attaching the tax bill ), XX/XX/XXXX and XXXX. So, again, XXXX had notice of the information necessary to pay the taxes or conduct any related inquiry, but it failed to do so in a timely and reasonable manner. I received two emails from XXXX on XX/XX/XXXX, stating XXXX had made disbursements on XX/XX/XXXX, for county property taxes in the amounts of {$6500.00} ( tax ) and {$180.00} ( interest for late payment ). That prompted my call on XX/XX/XXXX, when I ultimately spoke with tax department supervisor XXXX. During that call, I requested a refund of the interest that was disbursed from my escrow account, because the delayed payment and interest incurred was because of XXXXs negligence and no fault of mine. The tax department representative I previously spoke with in XX/XX/XXXX about this debacle, and who informed me the tax department representatives I had previously spoken with had not yet resolved the tax payment problem, while stating he would take care of it, assured me I should not be required to pay the interest. I also requested through XXXX that XXXX compensate me for the XXXX income taxes I will have to pay on the amount of the XXXX property taxes XXXX failed to pay in XXXX. Had XXXX paid the taxes in XXXX, I would have been able to deduct that amount from my income and not pay any income tax on the amount of the real estate taxes. This income tax deduction is subject to an annual cap, which will be met in XXXX with other deductible tax amounts incurred in XXXX. Because XXXX negligently failed to pay the taxes in XXXX, I have lost that XXXX tax deduction, which will cost me approximately {$1500.00} in additional income taxes. I asked to be put in touch with XXXXs supervisor to discuss the problem and request compensation, but she said nobody was available and promised I would receive a returned call from upper management. That was a week ago and nobody has called me.
04/06/2022 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • LA
  • 710XX
Web
My account has been in good standing since The Money Source bought our loan last fall, paying our note ( XXXX} ) plus extra to principal ( XXXX ) according to the statements mailed to my home. Payments have always been made online through the mortgage company 's website. I made my XX/XX/XXXX payment on XX/XX/XXXX. I have attached the statement for the XX/XX/XXXX due date showing the account was current at the time the payment was made, the payment confirmation from their website, and the email confirmation I received the next day showing the payment had posted. On XX/XX/XXXX, we received a call claiming our payment was past due. Through multiple conversations over several weeks, we have gotten 4 different explanations as to why our payment was supposedly past due. First it was an " error in the cashiering department '' where someone misapplied the XXXX payment. I was assured this would be corrected by XX/XX/XXXX. When my account was still showing past due I called again. Then they claimed that the payment was mistakenly applied to only principal instead of to the loan payment and then principal. I was told the issue would be resolved by XX/XX/XXXX. I advised them I wanted to make my XXXX payment but was uncomfortable doing so since their website showed the XXXX payment was due and I did not want my XXXX payment being applied to XXXX and cause the whole problem to start again. They said when it was resolved on XX/XX/30, I'd be able to make my payment. When I called on XX/XX/XXXX after seeing it was STILL not resolved, I was promised a same day call back from a supervisor named XXXX with a resolution and that he would process my payment when he called back. No call back at all. I called on XX/XX/XXXX and I got the third and most untrue story from them. They claimed the payment was returned due to insufficient funds. The funds were removed from my account and my bank would have notified me of a nonsufficient funds transaction and assessed me a fee, none of which happened. I was told to expect a resolution and callback on XX/XX/XXXX. After a disturbing notice from XXXX XXXX I called XX/XX/XXXX and got a FOURTH explanation for the problem. The latest explanation is that money that was received from the previous loan company when they bought my loan was applied to the first month 's payment they would require rather than the principal in error. Once they realized the error, they reversed the payment and did not contact us, just moved all my payments back and showed me as being a month behind. Again, with no contact that the account was now going to be considered a month behind in payments and we would now be required to make an ADDITIONAL months payment. Their posting error 4 months ago caused my account to be considered past due in XXXX while all statements and information sent to me in the meantime showed the account as paid and in good standing the entire time. I had no way of knowing they had made an error that was going to cause this much trouble. When questioned about why we were not notified, a CS rep named XXXX I was speaking to told me that the law prevents them from contacting the customer about such things without prior permission, which did not really make a lot of sense to me. Throughout it all, I was assured that no Late Fees would be assessed and nothing would be reported to the credit bureau 's while they worked to determine what happened with my payment. A late fee was assessed which was removed. However, I was notified XX/XX/XXXX through XXXX XXXX that my credit score dropped due to a reported late payment. It dropped XXXX points, which is egregious considering this was the mortgage company 's error. While the most recent conversation has them saying they will " put in a request '' to have the erroneous credit hit removed, I am not confident that they will follow through considering I was assured multiple times that the payment errors would be corrected by certain dates and it never was. Due to their poor handling of this entire fiasco, I have requested from them a written explanation of everything that happened on my account. I also requested a detailed accounting of all monies associated with my account, not the very confusing Transaction History they have available on their website. The mortgage company says they can not do either of these. I would also like to say when I received notice this company would be my new loan servicer, I had reservations as I had never heard of this company before in my life. My reservations it seems were spot on as not even 6 months into a business relationship with them they are causing this much havoc.
09/06/2022 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • MA
  • 018XX
Web Servicemember
Covid forbearance for 3 months XXXX while loan was serviced by guaranteed rate. Company advised us to do a loan modification. We were told we didnt have to make payments until this process was complete : We were sent with new rate of 2.875 loan modification documents in the spring with my maiden name that couldnt be notarized. Was sent a second document with an increased rate of 3.375. Called many times to find out why the rate increases and if we could get the original rate offered. XX/XX/XXXX Loan transferred to The Money Source ( TMS ). Called immediately to explain that we were in the loan modification process and they told us it would take up to 6 weeks to get documents transferred and then they would continue the loan modification. We were told we did not need to make payments during this process. Several months of phones calls we finally received a copy of the loan modification which included a rate of 3.875 and a HUD loan to cover the balance in XX/XX/XXXX. We had them notarized and sent back. We were informed notarized documents were received XX/XX/XXXX. I began making the payments in the amount of the new loan modification documents. I called approximately 10-15 times over the next several months about the status. I was told that there was a delay in getting the loan recorded, but that it was all set. In XXXX I was notified via phone call that the deed had my maiden name ( XXXX XXXX & XXXX XXXX ) and that the loan modification was in my married name ( XXXX XXXX ) so they needed a copy of my marriage certificate which I sent that day. I called several times for updates. I was then informed that we would need to start this process all over and I would need to change the name on the deed. I escalated this to superviser level during multiple calls. I was always told they would get back to me and they never did. This process has dragged on for over a year despite our fest attempts to respond to requests in a timely manner. We were notified by a new mortgage servicer in XXXX that they would be acquiring our loan in XXXX. TMS reported our loan as delinquent twice despite assuring us payments didnt need to begin until loan modification finalized. TMS also informed us that the federal Covid protections expired in XXXX. Despite the fact that we had already notarized and returned the documents we were told that they now have no obligation to help us. We had the first negative credit report removed in late XXXX XXXX. About a week ago my credit score dropped dramatically and I see that TMS reported us as XXXX delinquent. We made payments in XXXX, XXXX, and XXXX this year. We did not make a XXXX payment bc we were told to restart the process and then informed our loan was being transferred. I have spent 40+ hours on the phone ( many in tears ) trying to figure this out. The MA deed website specifically states that names on a deed do not have to be changed for marriage and that it can just be written XXXX XXXX XXXX, formally known as, XXXX XXXX, on the loan documents. The delays in this process have cost us the chance to have a lower rate that would make our payments more affordable in addition to the loan restructuring that helped decrease payments. The last time I spoke to TMS was in Early XXXX. I requested that they honor the loan modification because they didnt complete their part of the modification process. The way that I was told that they dont have to give us any kind of hud loan or modification because federal Covid protections expired in XXXX makes me wonder if this was done on purpose. It took me 5 minutes to look up the information on the MA deed website that the name difference would prevent the loan modification from being recorded and TMS is telling me that the loan modification needs to start over because it cant file the deed because of the name change, but I found out this isnt the case. I think they should have done due diligence and at least explored the issue in a timely enough manner that whatever paperwork needed to be corrected could be done. The most recent statement from TMS says that we did not make payments that were made. ( XXXX ). We were told repeatedly we dont need to make payments without a completed loan modification and that credit reporting would be suppressed during this time. I will include a letter of the removal of the first report. They just very recently made another report hugely impacting our credit scores. We have always done what was asked of us.
08/21/2022 Yes
  • Mortgage
  • VA mortgage
  • Struggling to pay mortgage
  • TN
  • 37830
Web Servicemember
This is a follow up complaint about XXXX gross failure to follow the rules. First- XXXX had the many requests of XXXX XXXX my domestic mate and myself jointly for three years in many phone calls and emails and te XXXX and online. It was only after three years that XXXX interferes with this contractual arrangement and called and harassed XXXX til he did not want to deal with XXXX. This is contractual interferance and is malicious and planned by policy. They refused to accept multiple XXXX signed and witnessed and sent to XXXX or to honor many joint calls where our attorney and XXXX instructed S to accept me as co owner/hill owner and to modify the arrearages/mortgage. He obtained the original forbearance d requested over XXXX times a modification/payment plan that was ignored. THIS WAS MALICIOUSLY CALCULATED BY XXXX to destroy our XXXX. XXXX grossly malicious continued refusal for three years to abide by instructions from previous mortgage holder and myself and our attorney proves gross bad faith. They interfered grossly with ownership/contractual agreement with my domestic partner and his control of his former property. The case law is clear as well. XXXX is forcing me into bankruptcy which bc will be horrifically damaging to try and STEAL my Home. This also PROVES their gross bad faith and fraud by charging grossly inflated fees when the LAW STATES NO ADDITIONAL FEES CAN BE CHARGED OTHER THAN ORIGINAL MORTGAGE COSTS IN ARREARAGES YET THEY OVERCHARGED BY XXXX and illegally repeatedly demanded LUMP SUM PAYMENTS WHILE BLOCKING ANY PAYMENT ATTEMPTS WHEN LAW STATES WE COULD BEGIN REPAYMENT ANY TIME! This is a POLICY! not an error XXXX has a network of policies CALCULATED TO STEAL PROPERTIES!!! STOP THEM! We received a letter stating I did not qualify as a successor in interest when I do as a domestic partner who holds the entire deed to property for years as a transfer for debt owed by my domestic partner. XXXX agreed for me to be a successor in interest when it put my name with original mortgagor on a n offered contract to modify the mortgage which it the. Reneged on AFTER we signed and returned it. They can not now claim I am not a successor in interest or an owner since now I AM and HAVE been sole owner for years and gave full ownership through deeds prior to any arrearages. I made all mortgage payments from my salary and I was deeded my home in payment of a domestic debt created in anticipation of marriage. I am the SOLE OWNER. Discussion g my property when I AM SOLE OWNER IS a violation of my rights of ownership. I am including a SCREEN shot if the fact that MY NAME as co owner was typed on the co tract offered by XXXX the. Reneged on after acceptance!!!!! Signed by XXXX as well in front of lawyer! This proves they accept me as successor and as a coowner it states with rights of succession?!!!! This is theft! XXXX has evaded, obfuscated, ignored and defrauded all attempts to settle this for three years starting with their theft of theee payments WHEN MORTGAGE WAS CURRENT and there was NO legitimate ability to foreclose them XXXX ran up arrearages to steal the property while falsely engaging in FAKE negotiations while listing the property 9 times in auction!! CONSTANT DUAL TRACKING ABUSIVELY MANY TIMES WHILE REFUSING TO ALLOW NE TO BEGIN ANY REPAYMENT OF ARREARAGES THEY FALSELY RAN UP! THEY ALSO ILLEGALLY DEMANDED LUMP SUM PAYMENTS WITH NO EXIT PLAN ILLEGALLY FIXING THE PORTAL SO THAT NO PAYMENTS COULD BE made Grossly violating REGYSING TO CREDUT OSYMENTS TBST FUSAPOEARED! Violation code grossly FORBEARANCE RULES- AFTER ORIGINAL MORTAGOR SENT multiple POA and releases for me and our attorney to solely manage the property!!! THEY NRVER RESPONDED TO MULTIPLE LETTERS FROM LAWYER XXXX XXXX WHEN THEY HAD RECEIVED MULTIPLE CALLS WITH HIM AND XXXX XXXX ON LINE GIVING PERMISSION AND POAS!!!?! THEY HAVE ACTED IN GROSS BAD FAUTH, stole payments, ignored XXXX notices til after a sale, ignored modification application multiple times, reneged on a signed co tract they wrote and sent to ME! I DEMAND I BE GIVEN AS LAW REQUIRES A MODIFICATION IMMEDIATELY AS WELL AS DAMAGES FOR THE GROSS HARASSMENT XXXX engaged in with impunity for three years. AND THAT XXXX be fined and ordered to stop their clear policies to steal property. I DEMAND ASSISTANCE AND THAT CFPB file suit for this gross pattern of bad faith TO STOP THIS FRAUD.
03/02/2022 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • IL
  • 60004
Web
I'm reaching out regarding mortgage XXXX on the residential property at XXXX XXXX XXXX XXXX, XXXX XXXX IL XXXX. On Sunday XX/XX/XXXX, there was a fire at the property. We were basically told that most likely the house would need to gutted and have the fire damage remediated before it needed to be re-done. I immediately put in a claim with my Insurance company the same day. On Tuesday, XX/XX/XXXX, I was contacted by the insurance company and informed that we didnt have a policy in place. I was informed by the insurance company that my insurance policy had been cancelled due to non-payment of the annual renewal back in XX/XX/XXXX. I was told that contact had taken place between them and my mortgage company, but XXXX had not paid my policy renewal fee. I never received a notice of cancellation from my insurance provider after XXXX did not pay the renewal. My insurance has been paid from my escrow account since Ive had the mortgage on the property. The annual renewal fee was also listed on my escrow analysis as going out in XXXX. My insurance provided was also listed on my mortgage when I logged into the online system. I reached out to XXXX and they were able to put a forced place policy in place and back date it to XXXX so that the fire damage was covered. However, the policy they put in place didnt contain the same coverage as the policy I had in place. The policy I had in place covered the dwelling and included coverage for loss of rental income because the house was being rented to tenants. The policy they put in place also didnt include {$5000.00} in coverage for items in the house ( the appliances ) and was approximately {$700.00} more than my original policy. Because they let the policy lapse and didnt place the same coverage on the house, we now have no way to make up the loss of rental income that I am losing by the house not being occupied. I am now 2 months behind on the mortgage and they are calling me almost every other day to ask for a payment on the house. Ive contacted the mortgage servicer multiple times and have been working with the VP of Customer Experience, XXXX XXXX to get this resolved. Ive provided the information that she requested and they have been working on an internal investigation into what happened. In my communications with her, she asked for some time to resolve the issue before I filed any formal complaints. Hence why this complaint is just being filed now. She was provided with the below information regarding XXXX specific communication. In early XXXX, I received a letter from XXXX asking for evidence of insurability. I called XXXX within 48 hours of receiving the notice and spoke with a customer service rep ( or customer ally as they are referred to ). I told the rep who answered the phone that I wasn't sure what the letter was because our insurance was paid by XXXX out of our escrow account. I asked him what they needed but after looking at my mortgage and escrow accounts, he told me that we were all set. He said that our escrow account looked good and he could see that our insurance payments were included. Based on that conversation, I did nothing further. For informational purposes, here were 4 calls that I made to XXXX over a several week period where this issue would've been discussed. There are multiple calls to them because I am having another issue with my other mortgage with them as well. They record all calls that come in so there will be a recording of my conversation with the customer service rep. XXXX - XXXX ( XXXX mins, XXXX secs ) XXXX - XXXX ( XXXX mins, XXXX secs ) XXXX - XXXX ( XXXX mins, XXXX secs ) XXXX - XXXX ( XXXX mins, XXXX secs + XXXX mins, XXXX secs ) I've also attached the following things : 1. A copy of the original homeowner insurance policy 2. A screenshot that was taken on XX/XX/XXXX of my mortgage account that lists XXXX XXXX as my insurer with a payment amount of {$1400.00} 3. A text file with the claim number that was originally filed the night of the fire. 4. A full copy of my email communication with the VP of customer experience XXXX XXXX ( note, there are a few typos or mistakes on dates in the email ) 5. The escrow analysis statement from XX/XX/XXXX that lists an insurance payment of {$1400.00} being paid in XXXX from escrow.
03/01/2018 Yes
  • Mortgage
  • FHA mortgage
  • Closing on a mortgage
  • TX
  • 78640
Web
I have 2 problems - 1st was with the XXXX FHA that was initiated XX/XX/XXXX and then with the mishandling of my Escrow account below is the email I have sent 4 times to The Money Source along with I believe 3 phone calls where I had to leave a message for my issue to be escalated. I do have documentation and emails to support all listed below, I am also still paying my payments as I don't want to pay late on a mortgage : Last week I had placed a call to your customer service line concerning the jump in my payment and was informed this would be escalated to manager and I would receive a call. I have not yet received a call. I am currently on hold right now to speak to another customer service representative which as the more I looked into my loan the more complicated it has become so I am writing this down to assist you all in making a thorough review of my loan. I began an internal FHA XXXX XXXX with XXXX XXXX and received the XXXX on XX/XX/XXXX and informed on XX/XX/XXXX that I should close around XX/XX/XXXX possibly. XX/XX/XXXX I received a Welcome letter from XXXX XXXX and attempted to contact her on XX/XX/XXXX & XX/XX/XXXX before she responded that loan was approved and 2 items where needed Hazard update with new loan and Utility Bill I had already turned in and received confirmation of those received by XXXX XX/XX/XXXX but I immediately sent in what was requested again. As I had not had communication I emailed XXXX again on XX/XX/XXXX To verify items where received and what our ETA for closing and when XXXX XXXX will be sent on. I received an email from XXXX XX/XX/XXXX at XXXX that my items had been resubmitted and I was clear to close. Then on XXXX after emailing trying to get update on ETA after a back and forth with XXXX ( as I was not getting response from others I emailed him also ) the email I received from XXXX now stated she has sent my file to Team lead to expedite so they can CTCbut I was informed XX/XX/XXXX I was already clear to close. I esigned the CD on XX/XX/XXXX and was set to close XX/XX/XXXX so I then started to communicate with the XXXX XXXX XXXX XXXX XXXX with XXXX XXXX Branch Manager ( she is no longer with XXXX XXXX now and branch closed ) on XX/XX/XXXX she informed me lender needed to push closing back to XXXX the documents finally arrived to notary on XX/XX/XXXX at XXXX my appointment was at XXXX. As I had not heard from anyone on XX/XX/XXXX date of funding per the CD and Docs we had signed I started to email to check status.Finally XX/XX/XXXX I was told that the wire was ordered and XX/XX/XXXX my loan funded. Now that I have explained the horrible beginning of this loan imagine my surprise that my Taxes where never updated to correct amount as tax bills for XXXX county go out in XXXX I have in fact an email from title where they have the tax cert for my file pulled on with tax effective date of XX/XX/XXXX for the amount of {$3900.00} but on the Payoff I also requested a copy of shows Less Current Balance of XXXX and Escrow taxes of XXXX. The History Statement from my prior loan reflects Projected amount of taxes to be XXXX but Actual is XXXX I received this XX/XX/XXXX not thinking anything as taxes always increase a bit so when I got the Annual Escrow Account on XX/XX/XXXX I was not alarmed that new payment was XXXX ( reasonable as payment was XXXX I always round up to XXXX to put towards my principal ) but when I received my Statement for XXXX now has my payment at XXXX A XXXX INCREASE I went back through all my emails, notes, paperwork and I am confused on how a FHA XXXX using a tax value of XXXX ( XXXX tax value mind you ) when the tax bill received for that year of XXXX as XXXX which is reflected on the payoff? I need someone to please contact me ASAP as I want to make my payment by XX/XX/XXXX as I have never paid my mortgage late. Please call or email be advised if I dont answer please leave me a voice message with number and extension I can return your call at. I am currently reviewing my XXXX XXXX and as I am finding and it seems that T & I to be updated and should be updated, why wasnt mine? I will continue my research as I await a response from you. XXXX has escalated this per our conversation today Thank you!
11/10/2021 Yes
  • Mortgage
  • Other type of mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • CA
  • 92807
Web
Early XXXX, when Covid first hit, my husband and I had a brand new mortgage on our home and as a result of Covid, I was laid off of my job, mid-XXXX ; my husband remained working. Our first mortgage payment was due XX/XX/XXXX. In researching payment options as a result of me losing my job, I discovered that our current lender, The Money Source ( TMS ) offered a forbearance option. We ended up taking a forbearance of seven months worth of payments. In XXXX, XXXX I started a new job and began the process of coming off the forbearance. I submitted all of the required paperwork, documentation, etc. for the forbearance to TMS and received approval in XX/XX/XXXX ; we resumed our regular payments in XX/XX/XXXX. We had what our current lender calls a " partial claim '' submitted and filed with HUD in the amount of {$24000.00}. This past XXXX, XXXX we began the refinance process with a mortgage lender. We attempted to obtain the payoff letter through the administrator of the claim at the time, XXXX XXXX ( XXXX ), but were never able to do so as the administrator indicated they didn't have any record of the claim filed. I went back and forth with our current lender, who indicated that in fact, they had filed the paperwork as of XX/XX/XXXX. We got all the way to the end of the refinance process, only to discover that a payoff letter was the only thing holding up the refinance. Unfortunately, we were never able to obtain the payoff letter for the partial claim and our refi fell through. I was even specifically told by our lender, TMS, that if we ever did a refi, that these amounts would need to be paid, so clearly everyone had the same information. This past XXXX, we started working with a different mortgage lender, to once again, try to get a refi on our property. I was upfront about all of the challenges we faced with the previous lender regarding the required payoff letter. As with the previous lender, everything was going along just fine until we started the process of requesting the payoff. Here we are yet again, trying to get that same payoff letter. Through a series of conference calls with the title company and our current lender, we are going back and forth as to who has this partial claim. Long story short, its our current lender who either dropped the ball with filing the paperwork or just simply isn't interested in providing us with the payoff letter. The administrator of the partial claim is a different entity than that company who was handling these claims in the first part of the year and they're saying the same thing, that they don't have the payoff because our current lender, The Money Source ( TMS ) hasn't filed the claim. The previous HUD partial claim servicer is XXXX XXXX ( XXXX ) and their telephone number is XXXX. The new HUD partial claim servicer is XXXX and their telephone number is XXXX. Our current mortgage company is The Money Source ( TMS ) and their telephone number is XXXX. So, where we're at currently, is the title company is awaiting a call back from our lender as they have " escalated '' this issue up to more senior management to research ; we've already gone this route earlier in the month and I know what they are going to come back and say, that its the administrator who needs to provide this payoff and its not, which they have as of the time I am submitting this complaint to you. I was also informed that the title company has been in contact with XXXX and has submitted a complete copy of the loss mitigation package/forbearance/partial claim to them as requested and this was completed yesterday, XX/XX/XXXX. The last conversation I had with the title company and our current lender, is that if we didn't receive this payoff ASAP, than I would be consulting legal counsel. During that last conference call, I told our current lender that we were being held XXXX on this partial claim and that we are paying interest on an amount, for which no one can provide a payoff. We're facing the same situation as before, with the refinance potentially falling through as a result of not being able to obtain this payoff. Please help us remedy this situation ASAP so we can finalize our refinance. Thank you!
04/13/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • GA
  • 31406
Web
On XX/XX/XXXX, I received an official notice from the City of XXXX stating that the second half of my CITY property taxes remained unpaid and unless paid promptly, a lien would be placed on my property. I immediately reached out to my mortgage company , The Money Source by phone and asked them why the taxes weren't paid from my escrow account ( taxes and insurance are escrowed in case ). They stated that they had recently purchased the loan from another mortgage company ( XXXX XXXX XXXX ) and did not have access to all of the details yet on my loan. They requested I send over, via fax, the notification from the city as well as a copy of the unpaid bill and stated they would " research it ''. I immediately requested the bill from the city, which had to be mailed to me. On XX/XX/XXXX, after receiving the bill I faxed the notice and bill to the fax number provided and received a confirmation of receipt. The very next day, XX/XX/XXXX I received a similar notice from my county tax office ( XXXX County ) stating they too have not received a property tax payment for the second half of XXXX. I faxed that notification and bill to the same escrow account fax number at The Money Source, receiving a confirmation of receipt. At that point, I made a phone call to The Money Source and voiced my concerns and asked that someone immediately investigate. The representative stated that they would investigate to verify the bills had indeed not been paid. They went on to say the investigation could take as long as 10 days. And finally she stated that if I did not hear back, that meant all was well and the taxes would be paid! Two months later on XX/XX/XXXX, I received a notice that a lien had been placed on my home and it was to be sold on the courthouse steps on XX/XX/XXXX for failure to pay property taxes. I immediately called The Money Source and asked them what was going on, asked them why the bills weren't paid. They had no record of my XXXX correspondence. Seeing that my escrow account had more than {$13000.00} in the account with no payouts, they knew they were at fault. In addition, at this point, I had received a notice from my homeowners insurance company ( XXXX XXXX XXXX XXXX ) that my insurance had been cancelled as well due to nonpayment. The representative located all of my documents that were faxed in XXXX and assured me I would receive a prompt response and resolution, again after a 7-10 day investigation. She stated that the best way to handle the insurance cancellation was to speak directly to that department of The Money Store directly - she transferred me. A woman answered, looked into the account, place me on a brief hold while she said she was going to call my insurance company and get it straighten out. She came back on the line, stated that my insurance company had sent a bill and that The Money Source would pay it immediately. In late XXXX, The Money Source requested information from our insurance provider, which we provided on XX/XX/XXXX. I began following up on the daily but at this point the COVID-19 pandemic had hit and they stopped answering phone calls. I have waited for 7-10 days, 2-3 hours each day on hold waiting for a response. And nothing. On XX/XX/XXXX, I received a notice from The Money Source stating that because I have no insurance, they were going to provide " their '' insurance at " an elevated rate ''. Again, I kept calling The Money Source, as did my insurance agent and nothing. Just endless hold. No answers. So now there are even more problems. I need to get some assistance with my mortgage as the COVID-19 disaster has hit me and my three business devastatingly hard. I also need assistance from the SBA 's disaster loan program but am worried because one of the questions on the application asks if " I currently have any liens against '' which will disqualify my application. I have frantically called, emailed and faxed ALL OF THIS TO THEM and ZERO RESPONSE. I understand they are overwhelmed by the pandemic but there is NO EXCUSE for their negligence from XXXX to XXXX. I need immediate help!
02/19/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 92101
Web
I refinance my mortgage with XXXX in XX/XX/XXXX and The Money Source ( TMS ), which better describes as a " sub-servicing partner ''. I have an escrow account with TMS and they are responsible for paying property taxes to XXXX XXXX County as well as my homeowner 's insurance premium. As the deadline, XX/XX/XXXX, of my property tax payment approached I grew concerned that TMS might not pay in time. I called up TMS on XX/XX/XXXX and asked them about the timing of my property tax payment. TMS told me that " had the projected amount from last year in their system '' and that after speaking with me they updated their numbers to {$3200.00} ( my property tax payment ). The rep assured me that property taxes would be paid on time, i.e. at that time they had not made a disbursement. On XX/XX/XXXX I still had not seen the property taxes paid on the county website ( I realize things are processed late ) and out of caution called up TMS again. I spoke to several reps on this call. I finally reached someone from the tax department who expressed surprise that the payment had still not been sent out. In her words " it says here clear as day '' that TMS is responsible for paying taxes and homeowner 's insurance. She told me to call back in 10 business days to check ( for a third time ). At this point I had been penalized 10 % by the county for a late payment of {$320.00}. I continued to check on the county website for several more weeks to check if my tax payment was received. I called into TMS again on XX/XX/XXXX to check on once again on the status of my tax payment. The rep told me that it was " paid on XX/XX/XXXX '' for the exact amount. They did not pay for the late fee but opened a case to " investigate '' whether they were responsible for the late fee. I faxed in a letter to them the next day. That fax was never received as I found out a week later, since the rep on XXXX gave me the wrong fax number. I sent a second, identical letter to the second fax number TMS gave me a day later. I also decided to mail in a personal check to pay the interest to avoid yet another penalty. The country returned my check with a letter dated XX/XX/XXXX saying they could not accept my {$320.00} check because they still had not received the original {$3200.00}. I called TMS again on XX/XX/XXXX and asked them to confirm, again, that the tax payment was complete. The rep told me once again that it was. I asked them for proof XXXX again XXXX and after a lot of waiting they finally decided to provide me with a tracking number. The rep told me first that the payment was electronic and that it was " bundled '' with other payments. I asked for the total so that I could speak with XXXXhe county and after another long hold the rep told me she was mistaken and that the tax payment was actually made, one, by check and, two, by the exact amount of {$3200.00}. The rep could not provide a tracking number. The rep, again after a lot of imploring, looked up the check and confirmed that the check was never cashed. The rep told me they would open a second investigation into my situation - this investigation to determine what happened with the delayed check which they ( purportedly XXXX sent which was never cashed or perhaps never arrived at XXXX XXXX County. The rep told me that it would take until at least XX/XX/XXXX to finish their investigation. XXXX XXXX County would assess me another 10 % penalty on top of my existing 10 % penalty on XX/XX/XXXX if they did not receive the original funds plus {$320.00}. On XX/XX/XXXX I sent in to XXXX XXXX County an electronic payment of {$3600.00} XXXX the original property tax payment plus the 10 % penalty XXXX to avoid a second penalty. On XX/XX/XXXX, TMS notified me via email that they are transferring my account to another mortgage servicer. I am concerned that they are retaliating against me for trying to hold them responsible for doing their job and possibly transferring me to another provider to make it more difficult for me to get a resolution to my two cases.
10/27/2018 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • OR
  • 97355
Web Servicemember
XX/XX/XXXX I received a letter from my mortgage company that my insurance coverage on my existing home wasnt enough. This turned out to be not true. This was a automated letter and not correct. However I decided to add earthquake coverage to my insurance ... I told my mortgage company this. The added earthquake insurance added XXXX a year to my premium. At this time I was told I will have to come up with the difference. Then about a week later the lender said they will pay the entire bill, including the additional earthquake coverage. At this time they said they sent a payment for XXXX, and theyll pay the additional amount. My insurance bill is XXXX with earthquake coverage. Bear in mind I made it PERFECTLY clear theres going to be additional funds due to XXXX XXXX XXXX. I called my mortgage company on XX/XX/XXXX to see why my insurance hasnt been received. ( I later found out it had been received by the insurance company but didnt update in their automated system. ) BUT I found out TMS, my mortgage company sent TWO payments to my insurance company!! One for XXXX, and another for XXXX! The only things the mortgage company had to do is send the difference! I made several attempts to correct this problem but TMS offered nothing to my satisfaction. I was told to wait for a refund check from the insurance company. Im not OK with this because the postal service in my area is VERY unreliable. The offer was made to have XXXX XXXX send the check back to TMS ... .. but this required a faxed hand written letter, from me for this request. I dont have a fax machine, and to be honest not the best at current technology. Im very upset over a few things over a few key key points. 1. Two payment to my insurance company by my mortgage company in the full amounts when I told them only a small amount was due to cover additional earthquake coverage. 2. TMS blindly sent another payment without checking their system. My wife worked as a busses office manager. She said someone should have caught this. When I confronted a team leader at TMS about this he said they legally have to send any bills due. 3. During this entire process TMS blindly sent bills to XXXX XXXX, but expected me to be the middle man, resulting in confusion. I TOLD THEM I added earthquake coverage to the one and only mortgage I have. 4. Property taxes are due now in Oregon ; since they paid my insurance twice my escrow will be short. The only response I got was we didnt do a escrow annualized on your account. Anyone with a third grade education can figure out this will result in a escrow shortage. Ive called and talked to several people at TMS on XX/XX/XXXX and I warned them this issue gets resolved today or a complaint will be made. I specifically asked for a manager in the insurance department, but didnt get one. I did get a manager but wasnt in the insurance department, as far as I know. I also said if they try to collect additional escrow payment from me, because of their mistake, I will seek legal counsel. However I wont be surprised if they ask for additional escrow anyway, considering how poor the communication is in TMS. I know with a VA loan the insurance has to be included in the mortgage payment. However if the VA and lender dont trust veterans to make insurance payment on their own. Then the mortgage company can deal with any issues! If I was able to make the payment myself this never would have happened. Now Im potentially out XXXX dollars before XXXX. Now I need to hope I get a refund check from my insurance company, so I can send it back to the mortgage company and hope they apply it to my escrow account. Which I have ZERO confidence theyll get this right. Since they failed to listen to anything I told them and get payments correct. I will appreciate any help you can give. This is highly stressful with XXXX near. Thank you, XXXX.
03/03/2016 Yes
  • Mortgage
  • FHA mortgage
  • Loan modification,collection,foreclosure
  • DE
  • 19702
Web
I have recently been struggling with making my mortgage payments on time. in the last year, I have been 30-45 days a couple times, but have always made it up. During those times, my mortgage company calls my job every day and my cell phone 2 - 4 times per day including weekends. It is so bad that I have to forward their calls right to voicemail because I work full time and am a XXXX and they are constantly calling interrupting my job and class. I can speak to them and pay it up and tell them that I will need an extra week to get the next payment, but they will still call. They even call when I am still within my grace period. They also have been sending " field agents '' to my house. These " field agents '' photograph my home and peek in my windows. On this past Saturday, my XXXX children were home alone while I was out and one of their agents pulled up, got out of her car, took photos of my house, looked in the windows of my home, and left a plain white envelope with a note simply saying to contact my mortgage company. This terrified my XXXX year old daughter. My payment had posted and brought my mortgage current 10 days prior to her arrival so I was current, not in the arrears therefore they did n't even have business being there. In addition, when a payment is late, they cut off your ability to pay online thus limiting your ability to pay immediately unless you call in. This is difficult and also causes additional delays for me given my schedule in trying to provide for may family and better our life to make it easier to pay the bills. If I work XXXX-XXXX and XXXX XXXX-XXXX, when am I supposed to call and make their payment? They are n't in. It 's frustrating. After goggling what actions I need to do to get them to stop, I read online about the FTC and how I could contact my mortgage company by certified letter with a cease and desist order. I decided to contact my mortgage company and obtain their legal notification address. During this time, I also asked if their " field agents '' also had an address or hub I could send a copy of the letter to. The woman answering was nice, and told me that it is their practice to send someone out to my house if I am 30 days late to confirm I still live there ( which they know from the last time they sent someone out and because it is a term of my mortgage to be my primary residence ) I informed them what happened and told them I have instructed my children to call the police if anything like that ever happened again and that I would press charges against whomever they sent out for stalking and harassment. I was given an address for the mortgage company, but the person on the phone said she was unsure that it was the correct address to send it, so she put me on hold to ask her supervisor. She said the field agents did not have an address or at least would not provided it. She came back on the line and said her supervisor said they have a right and there was nothing I could do about it. I do not feel that A ) anyone should be photographing my home and looking in my windows b ) scaring my children by doing so c ) sending someone out because they are 30 days late is appropriate. Its not like I 'm 3 or 4 months of no payment d ) refuse to provide me with the correct legal address for correspondence. e ) that the supervisor should have dismissed my complaint. f ) my house has over {$50000.00} in equity, so I would not need to " walk away '' from it. I have never put it on the market, but would certainly have the option to do so without issue if need be. I am hoping that you may have some incite as to what I can do as I feel harassed and wish I could change mortgage companies, but given my credit at the moment, I can not. I am a single mom so there are no other adults in the house if I am not there to keep my children from their harassment. Please help.
03/25/2023 Yes
  • Mortgage
  • FHA mortgage
  • Closing on a mortgage
  • KS
  • 66215
Web
I closed on my primary residence mortgage loan in the amount of : {$190000.00} at an interest rate of 3.750 % for my home located at XXXX XXXX XXXX, XXXX XXXX, Kansas XXXX on XX/XX/XXXX. I had {$20000.00} wire-transferred from my XXXX XXXX XXXX account XXXX XX/XX/XXXX, to a XXXX XXXX XXXX XXXX XXXX XXXX XXXX account to be used for my closing costs, interest rate reduction costs, and establish my escrow account funds. The FHA mortgage loan service provider that closed my FHA XXXX was : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX. There were unused funds that was left-over after all costs were paid that should have been refunded to me or deposited into my escrow account or paid towards my outstanding principal balance. I believe that individuals conspired to increase my closing costs to justify retaining all funds that were deposited by me for closing. In the month of XX/XX/XXXX, I sent XXXX ( XXXX ) cashier 's check in the amount in the amount of {$1200.00} each that were drawn on my account setup to pay my monthly mortgage payment to XXXX XXXX XXXX XXXX that should have been paid to reduce my outstanding principal balance, because my first mortgage payment was not due to be paid until XX/XX/XXXX. I was notified by XXXX XXXX in XX/XX/XXXX, that my mortgage loan had been transferred to a new service provider and that all payments beginning with my first mortgage payment due on XXXX XXXX, must be sent to The Money Source. I sent my first mortgage payment to The Money Source and all future payments in the amount of {$1200.00} paid through the same XXXX XXXX XXXX account setup to pay my mortgage payments via " XXXX XXXX '' electronic payment system. Due to being notified by The Money Source that my mortgage payment would increased to over {$1400.00} to cover a shortage they calculated had occurred in my escrow account, I refinanced my mortgage loan in XX/XX/XXXX, with XXXX XXXX XXXX XXXX to reduce my mortgage payment that I was told would become due with The Money Source in XXXX of XXXX and to reduced my interest rate to 2.87500 %. My first payment with XXXX XXXX was due on XX/XX/XXXX, I made payments via cashier 's check to XXXX XXXX before my first due date that should have been paid to reduce my outstanding principal balance. My new mortgage payment amount due became {$1300.00} per month and principal balance was : {$180.00}. I received correspondence from XXXX XXXX that my current outstanding mortgage principal balance as of XX/XX/XXXX, was {$180000.00} and my loan has a fixed interest rate of XXXX %. I was notified by XXXX XXXX that my mortgage loan would be transferred to a new mortgage service provider named XXXX XXXX effective XX/XX/XXXX I was mailed correspondence from XXXX XXXX informing me that my mortgage loan would be transferred from XXXX XXXX to XXXX XXXX effective XX/XX/XXXX and that as of XX/XX/XXXX I owed {$180.00}, XXXX on my mortgage loan and that I had a past due amount of {$5300.00}. I sent via U.S. Certified Mail a letter to XXXX XXXX disputing that I did not owe the amount stated as my current outstanding balance of mortgage principal nor was not delinquent on my mortgage payments. I immediately made a {$1500.00} payment on XX/XX/XXXX, and three ( 3 ) additional payments of {$500.00} each on XX/XX/XXXX, and XXXX, XXXX, all payments totaling {$3000.00} to circumvent what I believed to be imminent foreclosure proceedings. Regarding my primary residential home mortgage loan I believe that I have discriminated against because of my race, XXXX XXXX, regarding been charged more in costs and have had money fraudulently taken from me and subjected to escrow conversion of funds sent to be paid for taxes and property taxes.
12/08/2016 Yes
  • Mortgage
  • FHA mortgage
  • Loan servicing, payments, escrow account
  • WA
  • 98311
Web
The Money Source changed over to a new web-based mortgage management system that required everyone to re-register their account number. The new system did not have any banking information included so we re-inputted the information and scheduled the payment. There was nothing at all in the new mortgage system that showed our banking information or that the regular payment drawdown would occur, nor was there any response to my emails clarifying whether the new system required us to resubmit payment information. As a result our account was charged for double payments and resulted in an overdraft with our primary bank and an overdraft fee of {$35.00}. I 've had 3 conversations with the Money Source and they refuse to accept any responsibility for the lack of clarity in the change over to the new system. Why would we have to re-register if our information was already in the system? They assert that we had signed up for automatic withdrawal which is true, BUT the new system did not show any of that information at all. The emails they sent out encouraging everyone to re-register for the new system did not clarify that our banking and payment information was included at all ( see copy below ). Also, the new system does not include any history prior to 2016 so we ca n't access XXXX 's for prior years or any over documents prior to 2016. They stated it would take too much time for them to rescan documents into the system. What kind of service is this? And, it takes 3 1/2 minutes just to get through the customer service phone before you even can ask to speak to a real person. They deliberately discourage folks from speaking to a customer service agent by making the process unwieldy. So, with XXXX just two weeks away we are overdrafted by {$680.00}, unable to purchase food or gifts, and told that this is our fault and we do n't deserve to get reimbursed for the overdraft fee of {$35.00}. There also is no indication that the refund will be fast tracked. It all rides on the manager 's decision to approve the cutting of a new check to be processed and supposedly fed-exed. Dear Valued Borrower, Thank you for contacting The Money Source Inc., where People Matter. We have recently created a new and enhanced website. Please log onto our new Borrower 's Portal at www.tmscustomer.com. You will see a " Register '' button ; click that. You will then be asked to enter your loan number, full name, email address and social security number. You will also be asked to create a username and password. Once the registration process is complete, you will receive a confirmation email with a link that will direct you back to the website. You will then be able to login to pay your mortgage or manage your account with our new enhanced features. The Money Source Inc. prides itself on providing Rock Solid Service. Providing the highest level of service is our goal. We hope we have fully addressed your concerns. However, should you require additional information or assistance, please contact us at XXXXXXXXXXXX or you may contact our Customer Care Center at our toll free number XXXX. Our Customer Care Representatives are available XXXX to XXXX., and XXXX. The Money Source Inc. Customer Care Center Servicing Division The Money Source Inc. NMLS # XXXX Dear Valued Borrower, Thank you for contacting The Money Source Inc. , where People Matter. We have received your transaction history. The Money Source payments are required to be posted to the checking account, as opposed to processing, since the bank can still return them at this point. Please resubmit the payment history tomorrow once the transaction is posted. The Money Source Inc Customer Care Center Servicing Division The Money Source Inc. NMLS # XXXX
01/27/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • PA
  • 178XX
Web
My mortgage servicer, The Money Source, is not properly or timely paying part of my local tax bill as my escrow entity. There are many complaints posted online of similar mismanagement and delaying strategies described below. The company will not provide direct lines or let borrowers work with a single point of contact to get a resolution. The company " loses '' documents, records of conversation/escalation. XXXX XXXX XXXX I received my School / Real Estate tax bill in early XXXX via USPS and sent ( uploaded ) it to TMS via their app, XXXX. XXXX XXXX XXXX I received a late and penalty notice from my tax collector regarding the XXXX tax bill. I use XXXX to upload the document to XXXX XXXX XXXX XXXX I contact TMS via their help app, and I receive a request to call them at " XXXX ". I call them and they inform me they will call me after doing an internal investigation. XXXX XXXX XXXX I call TMS because they did not return the call within the timeframe given for their investigation. The tax department is in a different timezone and not open when I call ; but I am unable to answer when they call back. XXXX XXXX XXXX I reach out to TMS and they agree they are liable for late fees and will pay. XXXX XXXX XXXX I contact TMS. They claim they have no documents related to the case. I re upload the documents through a different online web portal with the agent. The agent confirms receipt. I note in their escrow disclosure they set aside the money to be paid in the XXXX time frame. The agent informs me the escrow balance is XXXX. However, the tax collector has not received payment. My tax collector ( XXXX XXXX ) contacts TMS. She later describes to me the company can not find documents, and she re-uploads with them. She informed me that after talking to many agents, TMS sent the payment to XXXX XXXX. The payment was returned to TMS and sat. TMS admits for several months no employee worked to find where the money should go. ( Had the company looked up my case, they would have seen that I've made multiple attempts to fix ). TMS agrees to send her a request for total via XXXX. She requests that they call me and give me an update on what they are doing. Later in the day I receive the following transcribed voicemail from a TMS agent : " Good morning, this message is for Mr. XXXX. Hi, this is XXXX supervisor here with the money Source. I was giving you a call back, sir. Do you see that you requested a call back concerning a delinquent taxes? We've already escalated this request for you for us to make that payment as soon as possible for you. However, if you still have any additional questions, you can feel free to give us a call back soon number the tax department. It's going to be XXXX. That's customer service, but they can get you over to the tax department. Thank you for your patience. You have a good day, bye-bye. " As a courtesy, I call back to see if any info is needed, or to be verified, and to thank XXXX but the agent has no record of this call to me. XXXX XXXX XXXX I follow up with my tax collector, who has not received a request for final sum, and agreed to call me if she receives anything. XXXX XXXX XXXX I call TMS at XXXX, they inform me they have no record of an escalation. I advise the agent that I intend to lodge this complaint unless they send out the request for final amount via XXXX by close of business and send me a tracking number. I relay all of my tax collector 's info to the agent orally to ensure they have the right info. I read it off the documents that have been sent to TMS through many mediums. XXXX XXXX XXXX No word from TMS so I am submitting the complaint to the CFPB.
04/03/2018 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • UT
  • 84106
Web Servicemember
On XX/XX/XXXX, I, a XXXX XXXX XXXX XXXX XXXX XXXX XXXX Veteran, using a VA Home Loan received a letter from XXXX XXXX XXXX XXXX stating that my loan was reassigned, sold, or transferred to XXXX XXXX XXXX XXXX. I, the veteran was paying for homeowners and flood insurance directly to XXXX. Randomly the new servicer paid XXXX without my knowledge for homeowners insurance, therefore increasing the fixed monthly mortgage rate in XX/XX/XXXX. I received a letter stating that the mortgage payment was late and an {$80.00} fee was assessed. I called XXXX XXXX XXXX XXXX several times. A payment of over {$500.00} in XX/XX/XXXX was paid to compensate for the homeowners insurance. I was informed that the {$80.00} would be reversed and the automatic payment amount was changed to be sent monthly as per usual. A letter was sent via email and confirmed receipt by phone : ( information of this memo sent has been edited to protect private information ) To Whom This May Concern : 1. Request loan number : XXXX : be placed into a NO ESCROW type of account. 2. Reasons : a. Per Utah State Law ( Utah Code 59-2-1104 & 1105 ) as a XXXX XXXX XXXX XXXX XXXX XXXX Veteran, as filed with XXXX XXXX County Treasures Office ( you can call to confirm ), no taxes are due or will be due for the foreseeable future. b. I, XXXX, have been paying XXXX for Homeowners Insurance monthly and Flood Insurance since the origination of the loan. 3. Please note The Money Source paid out x amount of dollars without my knowledge to XXXX for insurance and now an audit will need to be done to find out what happened to the dispersed funds. 4. This request occurred in writing in XX/XX/XXXX. This is my second request for a NO ESCROW account. 5. The Money Source states via phone they sent a letter in XX/XX/XXXX raising my FIXED mortgage $ 400+/- a month. No such letter was received. 6. A late fee was assessed of {$81.00} because the fixed mortgage was changed and the monthly over payment of {$1800.00} was not enough. 7. I request any negative action or actions that have occurred with this VA Loan be resolved and suspended until these matters have been resolved in accordance with both State and Federal law. -- -- - XXXX XXXX XXXX has not responded to the Memo within the 20 business day requirement per RESPA ( 12 U.S.C 26205 ). In fact XXXX XXXX XXXX XXXX has not responded at all. I call the VA XXXX Regional Office for help because it seemed that things were moving in the background with the loan like paying XXXX without my knowledge. The VA rep who tried to help stated that XXXX XXXX XXXX XXXX would not communicate with her on three separate occasions and the VA rep stated I should find help elsewhere. For XXXX XXXX XXXX XXXX was was cooperating with the US Dept of Veterans Affairs. In XX/XX/XXXX I get a call from XXXX XXXX XXXX XXXX stating that I was late, short funds. I didn't understand because the {$500.00} Payment was to cover any shortage for the Homeowner 's insurance. It was demanded that I pay an additional {$81.00} for a late fee. Also I had to pay {$12.00} to process the payment and it was stated by the Money Source that there was no other way to make the payment. If I didnt pay the {$12.00} that I would be marked as my loan as 30 days late to be reported to the credit bureaus. Under duress I paid two late payment fees and the processing fee. The servicer, XXXX XXXX XXXX XXXX was not in compliance with the 60 business day reporting to the credit bureaus because of the received correspondence that the Money Source has neglected to address.
05/31/2022 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • IL
  • 60402
Web
I applied and submitted a complete Loss Mitigation Application on XX/XX/XXXX for my FHA mortgage which has been in forbearance due to the covid 19 pandemic crisis since XX/XX/XXXX. My special COVID 19 forbearance plan is scheduled to end XX/XX/XXXX prior to this date I submitted the above application for exit options in according with COVID19 Recovery Loss Mitigation Options Mortgagee Letter there are XXXX options, COVID-19 Recovery Standalone Partial Claim For borrowers who can resume making their current mortgage payments or COVID-19 Recovery Modification : For borrowers who can not resume making their current monthly mortgage payments. I specifically sent along with the above application a hardship statement with several copies of my current monthly obligations, paystubs, bank statements along with the statement that CAN NOT resume my current monthly mortgage payment due to the covid 19 pandemic, a personal injury at work, and financial situation. I asked for a loan modification along with a partial claim. At around XX/XX/XXXX I received a letter from the servicer ( The Money Source ) offering me a Loss Mitigation Option of only a partial claim. I immediately contacted my Customer XXXX XXXX XXXX and we spoke about the issue and he assured me that it was a mistake and I should receive another package for the loan modification would be sent to my mailing address within 5 business days! Several weeks have went by during that time I haven't received any correspondence regarding the partial claim+ loan modification the only letter I received was in regards to the changing of my customer service Ally! So today XX/XX/XXXX I called to speak with The Money Source regarding this matter, along with them correcting the property address they have listed, and a loss Mitigation letter. I was transferred to my customer Ally whom seem like she didn't understand the Loss Mitigation Options for exiting covid 19 forbearance so I was transferred to a supervisor whom I asked what was going on with my loan modification she stated that I wasn't offered it because it would increase my mortgage too much. I told her that might be true but the goal for the loan modification according to the Loss Mitigation Options letter is to reduce the P+I ( principle and interest ) by at least 25 % by the COVID-19 Recovery Modification resolves the outstanding mortgage payment arrearages by adding it to the principal loan balance of the first mortgage. The mortgage servicer then extends the term for 30 years ( 360 months ) at an interest rate that is no greater than the current fixed market interest rate identified in FHA policy as of the date the borrower is offered a COVID-19 Recovery Modification, or extends the term for 40-years ( 480 months ) at an interest rate that is no more than 50 basis points greater than the current fixed market interest rate identified in FHA policy as of the date the borrower is offered a COVID-19 Recovery Modification. The COVID-19 Recovery Modification targets reducing the borrowers monthly principal and interest portion of their monthly mortgage payment. The COVID-19 Recovery Modification must include a Partial Claim, so the borrower must have Partial Claim funds available. She stated the only option I have is to accept the partial claim option only but since I didn't send it in by XX/XX/XXXX The Money Source was no longer offering this option to me and I would have to submit a new Loss Mitigation Application Given that today is only XX/XX/XXXX I think it was inappropriate for her to say such a thing.
08/28/2018 Yes
  • Credit reporting, credit repair services, or other personal consumer reports
  • Credit reporting
  • Improper use of your report
  • Reporting company used your report improperly
  • ND
  • 58103
Web
The problem is that The Money Source has caused EXTREME FRUSTRATION be providing FALSE information to me and my wife which has caused FINANCIAL HARDSHIP by reporting a HARD Inquiry on our credit reports causing us NOT to get a loan because of a lowered credit score. Here are the facts : Both my wife and I lost our jobs. We were current on the mortgage. We NEVER went late. We decided to reach out to the Money Source ( where our mortgage is ) to see if they can help us out. They told us we had to fill out a bunch of paperwork. We were told that we had to sign ALL of it which included a form to run a credit check. We were told it would only be a SOFT INQUIRY since they already had a mortgage with them. They wanted more and more paperwork. We gave it to them, But we kept getting the answer we cant help you since you are current on our mortgage. In the end they did NOTHING for us. They hinted that since we were current they could not help us but IF we were late then they could help us. Eventually we got jobs. We NEVER went late. However we are trying to get a different loan but we cant because our credit score is low because they did a HARD INQUIRY on us. I contacted them to have it removed. I called onXX/XX/XXXX at XXXX XXXX and talked with XXXX first. I explained everything and he said he could not help me. I ended up talking with a supervisor XXXX. She confirmed to me that it was supposed to be a SOFT inquiry and she would take care of it. I was told she would call me back. She did NOT. NOTE : XXXX did not initially believe us that it was a HARD inquiry and not a SOFT and wanted both me and my wife to send them copies to the credit reports showing it was a HARD inquiry. We emailed the proof to her. I waited a couple weeks thinking it will take some time to remove the INQUIRY. OnXX/XX/XXXX at XXXX I talked with XXXX, she had seen that there was a mix up and she admitted they had dropped the ball but reassured me that the supervisor, XXXX would call me back after he took care of things. HE DID NOT CALL ME. XXXX had apologized and admitted they ( The Money Source ) messed up. On XX/XX/ at XXXX XXXX I called and talked with XXXX. I explained I need to talk with a higher manager. He told me that he would get XXXX. He told me XXXX was on the phone but will call me back after he was finished. Several hours later he did NOT call. I called back again onXX/XX/XXXX at XXXX XXXX and talked with a XXXX, I explained the situation with her and she was very understanding. She reassured she would stay on phone until I talk with someone. She reached out to XXXX the manager but she was told he would not talk with me since it was not his department to help. She told me that it was a different department and that XXXX would talk with me. NOTE : Ive been on hold off and on for well over 51 minutes by this time. Finally I talk with XXXX whom is supposed to be a senior supervisor. She informs me that she cant do anything about it and REFUSED to remove the HARD INQUIRY. I told her that the information I was getting that it was going to be a SOFT INQUIRY. She said since you signed the paperwork it didnt matter. SHE just did NOT CARE about what I was going though. VERY COLD UNCARING. I told her that I WAS LIED TO by THEIR employees about everything. They did NOT help me and my wife they only hurt us by lowering our credit score. UNPROFESSIONAL, DECEPTIVE, COLD HEARTED, LIARS.
07/18/2022 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • PA
  • 19144
Web
The CARES ACT came at a time when the country began experiencing the effects of COVID-19, and I am thankful that I was able to get back on my feet as a result. After requesting a forbearance in XXXX of 2020, there were 3 options explained as options for when I was to resume payments. One option was a loan modification which would extend the mortgage term for 360 months at a lower APR allowing me to resume making payments in a reduced amount. The second option was a partial claim and the third option was to pay back any balance that accrued. I was told that I would surely qualify for the loan modification option as my account was in good standing and it was also the best option of the three. When I reached out to resume payments, in XXXX the loan modification was denied because my payments were not able to be reduced by at least 25 %. Unfortunately, this criterion was not a part of the criteria when I initially requested the forbearance. As a result, the underwriters sent an offer for a partial claim for the accrued amount. I declined this offer because this was not the option I was told I would qualify for when we initially requested the forbearance. I would have not requested and accepted the forbearance had I not believed that I would qualify for the loan modification initially explained to me. After declining this offer, I was instructed to apply again for a no document modification at the suggestion of the counselor we came into contact with. For months I waited for a decision and even called a few times only to find out that it was never actually processed because the initial offer had not been canceled. I was frustrated to say the least. This process has not been easy. Each time I call and speak with someone, I am told something new and different than the time before. When applying for the forbearance, I was assured that the servicers would work with borrowers and that has not happened. Each time ( twice ) an offer has been extended it was something that the Underwriting team thought was best for me, and I had no say so. I have called many times and am never able to speak to anyone from underwriting ; I am only able to speak to a customer XXXX- that doesnt have all of the information as they are not part of the underwriting team. Upon our last offer, we received a combination offer of a partial claim and a loan modification. This was never even an option when I initially requested the forbearance, so how can it be one now? I was hoping to resume payments in a manner that allowed for payments to be very close to what they were at first and the length of my loan extended for a few years- this is what was initially offered. The last customer ally I spoke to in XXXX suggested that I do a documented modification as I was not in agreement of the last offer from underwriting because it was never an option because at the time it did not exist at the time we applied. I applied for a documented loan modification in XXXX. In early XXXX, I found out that application was not valid because the previous offer had not been canceled. The application was resubmitted in XXXX, and I am now waiting to hear back. Meanwhile, I have applied for XXXX at the suggestion of the last manager I spoke with from my mortgage company. I would like to go on record stating that this process has changed over the course of the year and has been unclear and inconsistent.
03/20/2019 Yes
  • Mortgage
  • VA mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • GA
  • 30349
Web Servicemember
During the months of XX/XX/XXXX and XX/XX/XXXX I was repeatedly called from my mortgage company to refinance my VA loan. This is my first home loan, so I was extremely hesitant to refi my loan only 7 months after my purchase. XXXX from The Money Source, my mortgage company assured me that it was ok to refi for a lower intrest rate and that the negative balance in my escrow account would be absorbed into the loan, and my payments would be lower without too much of an extension on the life of the loan. I agreed to the refi and told XXXX that I was on my way to XXXX he said that was fine just make XXXX payment and I would close when I returned from XXXX in XXXX. I made the payment on XXXX using the application on my phone, and not to worry about XXXX payment because we were closing in XXXX. I left for XXXX on XXXX. During my trip in which I did not return until XXXX there was a mix up at the bank and the payment was returned. The mortgage company was notified on XXXX, but my closing was on XXXX where I paid a small closing cost, but I was not informed of the returned payment until XXXX I was told to make the payment by XXXX, and not to worry about XXXX payment that my new payment was {$1000.00}, and the refi will continue. When I went to make the payment that evening the system would not accept the payment for XXXX so I had to submit it for XXXX. Please keep in mind I had already had the closing paid my fees and it was past the three-day reversal period. I received a new welcome packet and several letters confirming that the closing was complete, I had a new loan number, and my first payment was XXXX in the amount of {$1000.00}. By now it is the beginning of XXXX, when I went to the web site and the application on my phone it said I had two open loans for the same home around the same amount. So, I began calling the mortgage company to get clarity I was assured that the old loan was no longer existent, and the new loan was correct, and that someone from higher up would call me to confirm. I started to receive alerts that my mortgage is late and that I was at risk of losing my home, so I called the mortgage company again and was again told the same thing. I was also told some conflicting information and that I was not telling the truth about the new loan they made me email them the information I received about the new loan because the woman said she did not believe me. I called the mortgage company a total of nine times and each time I was told the same thing. I went to the application on my phone and I had the two loans but this time both loans were for the same amount {$1000.00} I screen shot the information, and called the mortgage company again, again they told me I must be mistaken. By now I am starting to get extremely frustrated and offended that I am once again called a liar, this was on XXXX. I emailed a copy of the screenshot. When I woke up XXXX I went to the application on my phone this time both loans had {$1200.00} for payments but again only one is supposed to be active. I made XXXX payment of {$1200.00} but I am being constantly threatened with foreclosure for XXXX and XXXX payments. I am beyond frustrated and I want my loan handled by someone of competence it is beyond obvious this company can not professionally handle my loan. As a XXXX veteran this whole loan process is stressing me out and causing me physical pain.
03/19/2018 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • OK
  • 73505
Web Servicemember
On XX/XX/XXXX me and my hsband closed on a house with a Mortgage. In this closing my husbands XXXX XXXX VA property tax was included from the VA. Later that month ( XX/XX/XXXX ) we find out that or Mortgage was sold to The Money Source and what amount we were to pay on or before XX/XX/XXXX. We made all payments as to this day. On XX/XX/XXXX me and my husband went to XXXX County court house Assessors office and filled all documents needed to qualify for the 100 % homestead expemption and this as approved on XX/XX/XXXX in the amount of XXXX dollars due for the tax year of XX/XX/XXXX. On XX/XX/XXXX l called the money source and talked to the property tax department and they told me where to send this letter to so they could adjust our house payment total property taxes due in XX/XX/XXXX are {$3800.00}. This letter was sent certified to the address requested on XX/XX/XXXX. A couple of months went by so on XX/XX/XXXX I called the money source and requested a update on our mortage and property tax expemption. The company stated they did not have record of any phone calls or certified mail with the documents that they needed so they said to fax it to them. I called them back and they said they would have to put it through the research department and I told them if not resolved I would call them on that following Monday. On XX/XX/XXXX I called the Money Source ( property tax dept ) and they stated again that they had no paperwork so I asked to speak to management and they again stated they had to research this account and paperwork. I was getting no help from them so I called and spoke with the XXXX County Assessor office and explained my situation and I eventually went to the property tax office who submitted my letter and spoke with them in person. The Assessor office said that there was nothing more they could do and this is not only happening to us but to other XXXX XXXX XXXX XXXX. On XX/XX/XXXX I went legal serivces ( Jag ) and explained our issue with The Money Source. This Captain called The Money Source and explained to them that this a a property tax exemption. They stated they had no info and had to research it again. On XX/XX/XXXX I called the Money Source again and this time they stated the documents that they had showing 100 % tax exemption from the VA and XXXX County Assessor office they will no longer accept. The people we talked to stated they want the XX/XX/XXXX Tax bill. The Capt and the Assessor office said they dont produce them unitl XX/XX/XXXX. So the Capt stated why should we have to give them money and why is it not taken off. As they stated they need a Tax Bill. They said they now have to research this again and to find out that the case that they opened on XX/XX/XXXX they closed it on XX/XX/XXXX We found out that this is a ongoing issue with this company and not accepting the XXXX XXXX 100 % tax exempt as other Veterans have complained to the XXXX County Assessor office. We have all the documents if needed but as I said they said that zero dollars due on paperwork is not an amount and they want to see an amout due. so as of now we have to pay this mortage company {$320.00} more a month to benefit them and we wont see a dime of it back. There has to be something that can be done as that is {$110000.00} I am giving them that is mine.
05/11/2020 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • MN
  • 564XX
Web
I purchased my first home through FHA with XXXX XXXX XXXX XXXX. The first maybe was dated for XX/XX/2020 in the amount of {$1300.00}. I received a letter from XXXX dated XX/XX/2020 ( and still have it in my possession ) stating that XXXX XXXX is currently not collecting payment as your loan has transferred in full to a new investor. So obviously I did not make a payment. Two weeks into XXXX I received emails from XXXX stating I am now late on my mortgage payment and needed to make a payment. I provided them with a letter and they said that it was sent out to me in error and that I still needed to make the payment. I reached out to XXXX XXXX XXXX who said they do not take over ownership until I make the first payment to XXXX and also that they had already transferred the loan now to The Money Source. I would like to point out not only that they apparently transferred the loan without even having possession of it, but also to this date I have no formal written letters from XXXX stating their new ownership of my loan OR a goodbye letter stating they had transferred the loan to TMS. I again contacted XXXX and explained to them I wanted in writing that they would not be charging me a late fee, nor will they be reporting me negatively to the credit bureau as this was their mistake and not mine, which they agreed to and I made the payment which went through XX/XX/2020. XX/XX/XXXX I received a welcome letter dated XX/XX/2020 from TMS along with a bill date for XX/XX/XXXX, both being peculiar as XXXX didnt have ownership of the loan until at the earliest, XX/XX/XXXX when the payment to XXXX was posted, the fact that the welcome letter was dated XX/XX/XXXX, one week before the payment was posted and obviously insincere as it does not take mail three weeks to travel. Further more the payment due date was XX/XX/XXXX, over a week prior to when I received this welcome letter. I do not know if this constitutes a transfer of loan servicer in which case they need to provided me a fifteen day notice, which neither XXXX XXXX XXXX nor TMS have done. I did reach out to TMS to try to deal with them directly and to see if we could reach some sort of agreement to push my due date back at least the 15 days they were required to give me or possibly defer the XX/XX/XXXX payment one month. They told me they can not move the due date because of the 60 day grace period my loan is in but that I would have until XX/XX/XXXX to make both the XXXX and XXXX payment, but would then only have one week to make the XX/XX/2020 payment as after that the grace period would be up. I told them that was not good enough and that I would be filing a complaint with the Consumer Financial Protection Bureau. I do not see how XXXX was able to transfer my loan without even possessing it, how they were able to transfer without a 15 day noticed, OR how TMS was able to send me a bill without XXXXs notice of transfer or their own 15 day notice of transfer. Attached you will find the letter from XXXX stating they are no longer accepting payments and the loan has been transferred in full to XXXX XXXX XXXX along with two letter from TMS received on XX/XX/2020. One being dated over 3 weeks prior and the other being a bill statement stating a XX/XX/2020 due date, already 8 days late from when I received the letter.
02/23/2022 Yes
  • Mortgage
  • VA mortgage
  • Struggling to pay mortgage
  • WA
  • 991XX
Web Servicemember
The Money Source Inc. Failed to Convert Trial Payments to Fully Executed Loan Modification Agreement as per the Agreement with the previous Loan XXXX XXXX XXXX XXXX XXXX XXXX XXXX : XXXX Forbearance. Not delinquent prior to forbearance. XX/XX/XXXX : Approved for XXXX XXXXXXXX XXXX XXXX, Previous Interest Rate 3.875 %, new interest rate 2.75 %. Three ( 3 ) Trial Payments XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX by XXXX XXXX XXXX XXXX. XX/XX/XXXX : XXXX XXXX XXXX XXXX XXXX XXXX to The Money Source Inc . XX/XX/XXXX : Trial Payment ( 1 ) {$2400.00}. XX/XX/XXXX : Trial Payment ( 2 ) {$2400.00}. XX/XX/XXXX : Trial Payment ( 3 ) {$2400.00}. XX/XX/XXXX : Trial Payment ( 4 ) {$2400.00} - The Money Source Inc did NOT provide Final Loan Modification Agreement documents for signature and notary. XX/XX/XXXX : Received the Final Loan Modification Agreement documents for signature and notary from The Money Source Inc. New Payment beginning XX/XX/XXXX is {$2300.00}. XX/XX/XXXX : Returned signed and notarized Final Loan Modification Agreements to the Money Source Inc. for their signature - Final Execution of the XXXX XXXXXXXX XXXX XXXX via United States Certified Mail/Return Receipt XXXX/XXXX/XXXX : The Money Source Inc. received signed and notarized Final Loan Modification Agreement. XXXX : The Money Source Inc. acknowledged receiving the documents and were in the process of completing their end. Borrower on lengthy calls with The Money Source ... 1-3 hour calls due to long hold times, call transfers, etc. The Money Source Inc. says that they are NOT the Lender, the Loan Modification states that they are the Lender. XX/XX/XXXX : Received Denial of Loan Modification, Borrower did not return signed modification agreement within specified Timeframe - The Money Source Inc. letter dated ( XX/XX/XXXX ). XX/XX/XXXX : Received Notice of Default via United States Certified Mail - The Money Source Inc. letter dated XX/XX/XXXX ). XX/XX/XXXX : Contacted housing counselor, conducted three way call with The Money Source Inc . The Money Source Inc. confirmed that they DID receive the signed and notarized Final Loan Agreement from the Borrower via XXXX Certified Mail on XX/XX/XXXX and the documents were NOT sent over to underwriting for final execution because The Money Source lost the documents. The Money Source agreed to Re-Create the documents with the updated dollar amounts and resend the documents to the Borrower. XX/XX/XXXX : The Money Source Inc. states that they are not able to send new Loan Modification documents until they received the old Loan Modification documents. Told the Borrower that she will need to re-qualify for Loan Modification and emailed the Borrower a " TMS Mortgage Assistance Application ''. XX/XX/XXXX : Contacted housing counselor, conducted three way call with The Money Source Inc . The Money Source Inc. hung up. XX/XX/XXXX : Three-way call with The Money Source Inc. again , " With the modification agreement there is a deadline they still have that they have to honor to keep it but if they went past the deadline, they would have to start over and thats where it is. No matter what, that is the way it is because of the dates and the amounts cant send to the investor '' - The Money Source Inc .
01/26/2017 Yes
  • Mortgage
  • FHA mortgage
  • Loan servicing, payments, escrow account
  • TX
  • 75052
Web
We closed on our mortgage XX/XX/XXXX. The XXXX XX/XX/XXXX, we ( the house is in my name and my senior aged parents name ) went to the tax appraisal to file for over 65 exemptions and a homestead exemption. During several months of conversation with the tax office, we were told that it would be XX/XX/XXXX before the exemptions would take effect. XX/XX/XXXX, I faxed the letter received from the tax office showing BOTH tax accounts and the account numbers associated with the new appraisal accounts to The Money Source, the mortgage company. XX/XX/XXXX the payment was then lowered. In XXXX, we started receiving tax bills from XXXX county for past due taxes. I immediately contacted The Money Source XX/XX/XXXX, spoke to a rep and was advised to fax the tax bills. I was told it would take 10 business days to complete their research. As of XX/XX/XXXX, which would have been the 10days, I never heard from anyone with the Money Source. XX/XX/XXXX, I faxed a coverletter along with the tax bills, fax confirmation sheets, in a attempt to get someone to call me, which never happened. I finally got someone on the phone XX/XX/XXXX and was told they are trying to contact the tax authority and for me to call back XX/XX/XXXX. I called XX/XX/XXXX and was told the taxes were paid. XXXX XXXX, XXXX I sent the Money Source another tax bill from XXXX XXXX XXXX XXXX after I spoke to a rep. Again, they had their research to do and advised to call back XX/XX/XXXX!!! I called back a few times and was left on eternal hold. This being a tax issue, I figured they would send some kind of notice, which they did n't. I kept calling and asking what is the result of their research and was told by several reps that " It was the homeowners fault for not giving them notice of the exemptions, and therefore, we are responsible ''! I then asked if we did n't give you notice then why did you lower our payment XX/XX/XXXX once you had information from me and the tax office. To date, when I ask this question, I have yet to get a response. XX/XX/XXXX, we get our monthly invoice for the payment and it has gone UP {$1000.00}. Again, NOT ONE NOTICE WAS SENT NOR ANY CALLS MADE TO DISCUSS PRIOR TO THE STATEMENT BEING RECEIVED. I spoke to a rep at the Money Source and she told me the increase was due to no proof of insurance. Which was completely wrong as I called their automated insurance line and it stated the insurance is good thru XX/XX/XXXX. I called the next day spoke to two different reps and again was told I was to give them notice of the exemptions, and again I asked about the payment being reduced in XX/XX/XXXX, again, no response. Again, I 'm told it will be 14 business days for them to complete their 'research '. I have attached proof of faxes sent along with the confirmation pages, and the cover letters sent. I have excluded the actual tax bills, however, if you need those to do your research, please advise and I can fax to a designated number you provide. I would like the Money Source to pay for the past due taxes since they did not follow thru on their research, they NEVER sent any notices of any shortages, and they are trying to place the blame on the homeowner due to their lack of due diligence! Hope to hear from you soon and thanks in advance.
11/21/2019 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • PA
  • 19002
Web
Dear Sir or Madam - I am reaching out for assistance from the Consumer Financial Protection Bureau because I am having a very difficult time with the two companies who have serviced my mortgage. I have spent at least 5 hours on the phone with them trying to resolve the error, have sent follow up e-mails and I cant seem to get any one to actually help. The heart of the issues is I have made mortgage payments, the funds have cleared my bank, but they are not being shown as being paid against my mortgage. On XX/XX/2019 I refinanced an existing mortgage with XXXX XXXX ( XXXX ). The total amount of the new mortgage was {$400000.00}. The First payment was due on XX/XX/2019. The company servicing the loan was The Money Source. I made payments to The Money Source on XX/XX/XXXX of {$10.00} and XX/XX/XXXX of {$3200.00}. The details of these payments are shown in the XXXX billing statement from The Money Source, see attached PDF The Money Source - XX/XX/2019 Billing Statement. As additional support I have also attached my bank statement from XXXX showing the funds come out of my checking account, please refer to attachment Bank Statement. Shortly after making these payments I received notification from The Money Source that my loan would begin being serviced by XXXX XXXX effective XX/XX/2019. Please refer to the attached PDF The Money Source - Notice of Mortgage Servicing Transfer. After receiving this notification I did a XXXX search for XXXX XXXX and created an online account with them so I could access by information. After gaining online access to XXXX. XXXX I noticed they were attempting to service my mortgage effective XX/XX/2019 about 22 days sooner than The Money Source said it would. Please see attached PDF XXXX. XXXX - Welcome XXXX. I received a statement from XXXX. XXXX for XX/XX/XXXX, see pdf XXXX. XXXX - XX/XX/XXXX Statement and it did not reflect the payments I made to The Money Source on XX/XX/XXXX and XX/XX/XXXX. I reached out to XXXX. XXXX and told them about the payments to The Money Source, and provided my statement as support. I requested that they work with The Money Source to have the funds transferred to them and update my account accordingly. The response I got to this request is in the attached PDF entitled XXXX. XXXX - Written Response to Complaint XX/XX/2019. It basically states that they have no record of the payments and asked me to provide additional documentation to support my claim. I have followed up with additional e-mails and have been on the phone with XXXX. XXXX several times to discuss this issue. On two separate phone conversations with a XXXX. XXXX representative we called The Money Source and spoke with a representative together to confirm what I was saying was accurate. Despite this, they are yet to update my records reflecting all payments made. In addition, is seems that The Money Source has failed to provide XXXX. XXXX with all the records and funds associated with my mortgage. I do not know what else I am suppose to do to get this straighten out. It is not fair the agents serving the mortgage changed hands and they are not properly coordinating with each other. They have my money and are not showing it as applied against my loan. Please help me get this sorted out.
01/01/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • WA
  • 98512
Web
I am an investor, On XX/XX/2019 I closed refinance loans on 4 properties that I own with a company called XXXX XXXX. After closing proceeds, the payments are due on the XXXX starting XX/XX/XXXX. I have made each payment on time ( actually early ), and have cancelled checks from XXXX to prove it. The amounts of the payments for the 4 loans per month are {$1500.00}, {$1500.00}, {$1500.00}, and {$1500.00}. XXXX sold my mortgage to a company called The Money Source on XX/XX/2019. Right off the bat, The Money Source starts calling me incessantly, sometimes within seconds of my hanging up on them, demanding that I pay them for XXXX and XXXX on all 4 loans. These amounts were already paid to XXXX ( as I said, with proof ). The Money Source will call me a hundred times per day, if I hadn't blocked their number. Their agents are rude bill collectors, and I owe them nothing. They told me they wont stop calling me, even though I don't owe them anything until they can get the 8 payments from me that have already been paid. Jump to yesterday, I received 4 letters from them, one for each loan. They are threatening to foreclose on my 4 homes in writing now also. I have emailed all parties, including the original servicer XXXX to try and get the harassment to stop. I have pasted the last email sent below, that was sent to all parties. After I sent the email below, a gentleman by the name of XXXX XXXX with XXXX XXXX XXXX got in touch with me. He told me his company owns the loans, and The Money Source does the servicing for them. Supposedly this issue is being worked on, but I am still being harassed, and now being threatened with foreclosure on loans that are all paid current ( with proof via cancelled checks ). Please help me. Dear Money Source, or To whom it may concern, I am one step away from turning your company into the authorities for harassment. Your incessant calling me to ask the same question over and over, demanding I make payments that have already been made is pure harassment. I have explained to you that all 8 payments were made to XXXX, the servicer your company purchased the loan from. Below are the cleared checks from my account for payments I made in XXXX and XXXX, dates shown first. Your number has been blocked on my phone due to the harassment. You have no legitimate reason to call me. If you would like to have a manager call me, that actually listens to an explanation, that would be acceptable, but harassment over payments that have already been made to the previous servicer, and cashed ( with proof ) will not be tolerated. I expect a written response to this email. I highly suggest following up with any one of the 3 ccd email addresses from XXXX who are privy to the fact that all of the payments have been made. XX/XX/2019 CHECK # XXXX | Check {$1500.00} {$270000.00} XX/XX/2019 CHECK # XXXX | Check {$1500.00} {$280000.00} XX/XX/2019 CHECK # XXXX | Check {$1500.00} {$280000.00} XX/XX/2019 CHECK # XXXX | Check {$1500.00} {$280000.00} XX/XX/2019 CHECK # XXXX | Check {$1500.00} {$150000.00} XX/XX/2019 CHECK # XXXX | Check {$1500.00} {$160000.00} XX/XX/2019 CHECK # XXXX | Check {$1500.00} {$160000.00} XX/XX/2019 CHECK # XXXX | Check {$1500.00} {$160000.00}
08/01/2017 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • TX
  • 75078
Web
We have a home mortgage that was purchased by The Money Source in XX/XX/XXXX. There was an existing escrow account for taxes and insurance. The Money Source was notified immediately of the insurance carrier and that we lived in XXXX County Texas for the property taxes. Nothing was paid by The Money Source in XX/XX/XXXX. After I received notice from our insurance carrier that our homeowners insurance was lapsing I contacted The Money Source. They said they did not show any carrier and they would take care of it. After 3 more phone calls they finally did pay our homeowners insurance. Now we discover they have n't paid our property taxes. We started receiving notices of our property taxes not being paid? When I called XXXX, the phone menu has an extension for property taxes, it stated {$3400.00} had been paid on then the message is garbled with no real date stated. After I transferred to a Customer service person she said they payed {$3400.00} to XXXX XXXX County. I asked her to confirm and she reconfirmed XXXX XXXX County California. I said really, I live in XXXX County Texas, why would you pay any money out of my escrow account to a County I do not live in, plus the dollar amount is n't correct? She said, let me check again. Then she said, oh I 'm sorry I will have to put an inquiry in to our tax department. I said, just transfer me and I will speak with them and she said, oh sir, no one in our tax department takes calls, they are busy doing research. I knew at that point something was corrupt here. After numerous phone calls speaking with several customer service people stating it had to go through The Money Source 's Tax Department. 3 times I have been told we would receive notice within 10 days. Finally I had had it, spent 3 hours on the phone with several people at XXXX. We were told to mention that XXXX had 24 hours to respond or we would be contacting the CFPB and the state of Texas. In 2 minutes I was transferred to XXXX XXXX who said he could help, I faxed the information of the delinquency and penalties to his fax #. He assured me he would research it. Later that day which was last Tuesday XX/XX/XXXX I called XXXX again and he said legal had approved the payment of the almost {$21000.00}, taxes and penalties for our XX/XX/XXXX taxes. Then on Thursday XX/XX/XXXX I called agai to XXXX, he assured me a check was being cut. I asked for proof, he stated TMS does n't do that but he did provide a XXXX XXXX tracking #, which states nothing ... it 's bogus, no sender, no address of where it is going to. I also asked for a disbursement statement be sent to me on my account from the date TMS purchased my loan because of the escrow account that existed. To date, our taxes are still unpaid, though XXXX says, they have been paid. Today is XX/XX/XXXX and still XXXX County has not received any payment.., my XX/XX/XXXX taxes will be due in XX/XX/XXXX, another {$14000.00} which is the base amount with no late fees or penalties. This is fraud, plain and simple. I am writing for this to be resolved but to also see how many others have been duped by this predator company. I am interested in starting a class action lawsuit if needed. To The Money Source, pay my taxes now.
03/01/2017 Yes
  • Mortgage
  • VA mortgage
  • Loan servicing, payments, escrow account
  • OR
  • XXXXX
Web
On XX/XX/XXXX I submitted a complaint ( Case number : XXXX ) on the CFPB website, regarding illegal business practices at The Money Source ( TMS ) and their theft of monies from my escrow account. At that time, I was led by both the CFPB and TMS to believe this problem was resolved. It has been 14 months and this problem HAS NOT BEEN RESOLVED. As XXXX ( # XXXX, State of XXXX Judicial Branch ), of TMS, admitted at that time, the DUPLICATE monies TMS stole from my spouse and me were eventually returned to the proper account only for TMS to steal the same monies a XXXX time ( 14 months later ). My spouse and I realized this when we recently attempted to file our annual income taxes with the XXXX Internal Revenue Service ( IRS ). According to the XXXX office ( XXXX ), I paid {$2800.00} in property taxes for the entire year of XX/XX/XXXX. However, TMS claims I only paid {$100.00}. When I brought to TMS 's attention the gross error they made in XX/XX/XXXX ( paying property taxes to the XXXX twice in one calendar year ), the County immediately refunded TMS the overdue amount. Unfortunately, upon receiving this refund TMS wrongfully placed this money into our account as a " credit '' instead of giving it to the rightful party ( THEMSELVES ). Because of TMS 's gross oversight, TMS now claims we paid {$100.00} in property taxes for the calendar year of XX/XX/XXXX, even though the XXXX Tax Assessor 's Office clearly received our payment of {$2800.00}. How can TMS use monies from our escrow account to pay county property taxes only for TMS to state we paid no property taxes? This is a clear and obvious violation of RESPA, and the Rules of Professional Conduct. I called TMS to inquire about this discrepancy on Friday ( XX/XX/XXXX ), and was told there was a " credit '' ( of {$2800.00} ) to my escrow account, which precipitated the discrepancy. However, upon further examination, the " credit '' is actually the DUPLICATE ( stolen ) money that was returned to TMS in XX/XX/XXXX. THERE WAS NO " credit! '' The returned DUPLICATE ( stolen ) money, which XXXX acknowledged in XX/XX/XXXX, SHOULD NOT and DOES NOT change the amount of property taxes we paid to XXXX ( {$2800.00} ) for XX/XX/XXXX. However, TMS returned the stolen DUPLICATE money from XX/XX/XXXX ( {$2800.00} ), and illegally applied this to our escrow account, wrongfully reducing our IRS paperwork for taxes paid in XX/XX/XXXX, to {$100.00}. Any imbecile at TMS should realize the repeated error in their ways, as well as the shockingly illegal behavior they continue to impose on paying customers. Again, when I called TMS on Friday ( XX/XX/XXXX ), I was given the same poor customer service excuse as I received in XX/XX/XXXX. I was told to " XXXX it up & deal with it. '' Presently, my spouse and I CAN NOT file our State/Federal annual income taxes until this discrepancy, from XX/XX/XXXX is FINALLY RESOLVED. Please help us communicate with XXXX to, once again, return our stolen money and cease and desist with obvious violation of RESPA, and the Rules of Professional Conduct. We continue to be illegally denied our right to file State and Federal income taxes due to TMS 's violations. Thank you in advance.
04/05/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 94597
Web
I ( XXXX XXXX ) have a mortgage that I took out in XXXX with my husband ( XXXX XXXX XXXX. We received notice on XX/XX/XXXX that our loan servicer would be changing as of XX/XX/XXXX to the Money Source. Our property taxes were due on XX/XX/XXXX. The Money Source took XXXX weeks to find our loan. Once they finally acknowledged having our loan, I asked whether they would be paying our taxes on time. They claimed that they would pay our taxes from the escrow account that we had set up when we took out the mortgage, but then they also recommended that we pay the taxes ourselves to avoid the late fee. So I paid them on time. I incurred an additional cost for processing the payment via credit card because I was not able to get an answer until the day before the taxes were due. I asked to be reimbursed. Rather than be reimbursed, the Money Source released a large portion of my escrow account to me via check, which I had asked them NOT to do because of frequent mail thefts. This took me at least 4 calls ( though I can check my cell records to be sure ), speaking with about a dozen separate people over the course of three weeks as well as sending written and email correspondence. By the last of these calls, I had received a supplemental property tax bill. I asked whether I should pay that bill. The Money Source told me it would be paid out of my escrow account. Then I checked my account the day after it was due ( XX/XX/XXXX, the bill was due XX/XX/XXXX ), and the amount had not been taken out of my escrow account. So I called today ( XX/XX/XXXX ). When I called, I was first told that the Money Source would pay it, but it would not be the same day. I informed them that I would not wait because I had already confirmed that the bill would be paid more than 45 days ago ; if they were going to pay the bill, they would have paid the bill already. Then, the service representative changed tactics, claiming that the Money Source had decided they would not be paying the supplemental tax bill on XX/XX/XXXX and had sent me correspondence. I am signed up for electronic correspondence. I never received any notification through the electronic system and double checked this morning to confirm that was the case. I also checked my email and confirmed I did not receive any notification/letter/email telling me the same. I also have not received any paper notification or call from the Money Source that might have informed me of the same issue. I have now incurred about {$500.00} in additional costs from paying my taxes online ( and needing to use a credit card, for which I was charged almost {$280.00} more ) and from a late fee on this last bill and from a late fee that I incurred for paying one of my supplemental property tax bills late ( just shy of {$250.00} ). After I called on XX/XX/XXXX to report the issue, I was told that I would get a check for the full amount within 30 days. Now, I'm being told they will not resolve the issue until XX/XX/XXXX, but they refuse to tell me how much they will refund me if anything. In total, I have spent likely around XXXX hours trying to resolve these matters. I would never recommend the Money Source.
06/08/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • OH
  • 44107
Web
We have had very frustrating problems with our mortgage processing with the company TMS ( The Money Source ). Last year, we were told that we did not have home insurance on record with the company for the coming 2020 year ( we did, with XXXX XXXX ), and that we would be enrolled for insurance coverage through TMS. The insurance through TMS was around XXXX for the year. We sent them our documentation that we did have insurance coverage. The company accepted the new proof of coverage for the coming year XXXX. Then, in early XXXX, we received correspondence that there was no proof of coverage for XXXX, and that we were being charged for insurance through TMS for XXXX. We then arranged for new documentation to be sent over to TMS, which they eventually accepted. We then received new correspondence, saying we did not have coverage for XXXX. Each time we called, the representative was able to quickly see that we did have coverage for the year in question. There seems to be a huge disconnect between what is on file and how notices ( and charges ) are generated in the system. We do not have documentation for the three above incidents because they occurred months ago and we were not aware of an ongoing problem. On XX/XX/XXXX, an escrow analysis was conducted and we were sent an Escrow Account Disclosure Statement showing that we were still being billed for insurance through TMS, for {$1400.00} in the month of XXXX, leading to a significant escrow account shortage. You can clearly see charges to the escrow account for two different homeowners insurance payments, one for the insurance we selected through XXXX XXXX ( {$460.00} ), and one, presumably with TMS, for {$1400.00}. On XX/XX/XXXX, we spoke with a customer service representative, and were told that a new analysis would be conducted and that we should expect to see the charge to our escrow account go away. On XX/XX/XXXX, our mortgage payment was taken out and it was for the amount that accounted for the increased escrow shortage, due to the faulty charge for insurance through TMS. On XX/XX/XXXX, we spoke with another representative and were told the escrow analysis would not be completed until XX/XX/XXXX. The representative was not aware of any way to file a formal complaint with the company internally and could not provide a way to file a complaint, other than to stay on hold and wait to speak with a manager. The major issues are that we continue to have to provide documentation several times to TMS that we have insurance coverage, then to be told the company has our documentation, and subsequently find out that we are automatically receiving new charges due to their clerical errors. Communication is difficult with the company and it seems as if there is no way to ensure that the same mistakes will not continue to be made. Customer service reps will fix problems ( or say they will be fixed ) but then the same problem occurs again in the future. We have invested a lot of time on the phone, and if we were not diligently looking at all payments and documentation from them, we would be needlessly paying well over what we actually owe.
11/07/2016 Yes
  • Mortgage
  • FHA mortgage
  • Loan servicing, payments, escrow account
  • CA
  • 930XX
Web
On XX/XX/XXXX I refinanced my FHA loan with the XXXX to lower the interest rate from 4 % to 3.4 %. The loan office XXXX greatly miscalculated the monthly escrow amount and put my monthly property taxes at {$40.00} a month, totaling $ 480 year. However the correct amount should be around {$330.00} a month totaling {$3900.00} a year for property taxes. This is now going to cause a shortage to where I have to come up with over {$3000.00} within 12 months to cover this year property taxes, and the monthly mortgage payment will go up by at least {$300.00} a month to correctly cover future property taxes. On XX/XX/XXXX XXXX I spoke with customer service rep. XXXX at the XXXX and she informed me that on the original loan though them they were taking out {$350.00} a month for property taxes but now on the new loan it went down to {$40.00} a month. She was unable to provide an explanation on why they decreased it and so she transferred me to their XXXX department. I then spoke with XXXX who informed me the property taxes where off because they were less in XX/XX/XXXX. However he was not able to explain where they decrease the monthly property tax amount from {$350.00} to {$40.00} a month on this new loan. Furthermore I explained to him that I told the loan office at time of refinancing that I did received a supplemental tax bill and the property taxes are going up. I also noted 99 % of people in XXXX that do not pay {$40.00} a month or ever close to that for property taxes, and it made no sense for XXXX to lower it to {$40.00} a mo. He then messaged for a supervisor to call me. XX/XX/XXXX XXXX I received a call from a XXXX named XXXX at the XXXX XXXX department He stated he is " confused '' to why they decreased the monthly property tax from {$350.00} to {$40.00} a mo. and also agreed with me that is ridiculous that it was set for only {$40.00} a month. I then stated you guys need to do whatever you need to do on your end to make this right and I do not want the monthly payment to go up and do not want an additional bill to cover the loan shortage. He informed me that he needs to now speak with a supervisor in Customer service and a supervisor in their refinancing dept. to figure out what happened, and how to fix this. He then advised me that someone will be contacting me. XX/XX/XXXX XXXX I received a call from XXXX XXXX XXXX XXXX XXXX XXXX Department ( XXXX While not admitting wrong doing, or able to provide an explanation on the Escrow calculation errors. She was apologetic for these errors with the loan, and asked what I would like to happen to resolve this. I then stated I would like to be reimburse the {$5500.00} for the closing cost, the monthly payment shall not be any higher then original monthly payment, and loan must not be extended. She then explained she will need to speak with her XXXX to go over everything that happened with loan, and will then call me back. CFPB please note : Since this issue is still not resolved, I 'm submitting this complaint to you. I need your expertise, oversight, and any additional support that you XXXX provide
03/24/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • NY
  • 10303
Web
XX/XX/XXXX Lender Information The Money Source INC . XXXX XXXX XXXX XXXX XXXX, AZ XXXX XXXX # XXXX To Whom It May Concern, I am reaching out to you for help. In the midst of the pandemic I ran into hardship, as many other have in our great nation. To support homeowners like me, legislators passed the cares act and several other acts. Below I will list the timeline of my experience with my mortgage lender. I hope after reading it you would find that my loan was mismanaged and there is something that can be done to help right this wrong. XX/XX/XXXX : I am approved for mortgage forbearance. XX/XX/XXXX : I call in and ask for a payment deferral plan. XX/XX/XXXX : I am approved and I sign the Deferral Agreement. XX/XX/XXXX- XX/XX/XXXX : I have called in more than 20x asking why my mortgage has not been updated. The response is that it takes 45-60 days. I respond, its been over 60 days, something may be wrong. What should I do? They respond WAIT. XX/XX/XXXX : I start working with 2 lenders to explore my refinance options. Both offered me 2.99 % rate FHA or 4.00 % Conventional. XX/XX/XXXX : The lender ( XXXX ) reports to the credit agencies that I have made a late payment. After I sought out help from XXXX XXXXXXXX XXXX XXXX, XXXX updates my statement/account showing a deferred amount and a due amount. Corrects the credit report. XXXX Response : Thank you for contacting us regarding this matter. Upon receipt of the complaint, XXXX conducted a thorough review of the loan file and determined that in XXXX of XXXX, the Borrower requested to be removed from forbearance and qualified for a post COVID deferral. In XXXX of XXXX, the Borrower was approved, and in XXXX of XXXX, the deferral was sent to the investor for review. In XXXX of XXXX, the claim was approved for submission. Due to an internal error, the loan was not properly updated in XXXX system. XX/XX/XXXX : The 2 lenders that offered me for the refinance say they can only move forward if XXXX makes my account current. I have made about {$12000.00} in payments since signing the deferral agreement ; I was supposed to be current at this point. XX/XX/XXXX : I receive a phone call about an error made by XXXX on my original deferral agreement. I was told that I had to sign the new agreement or my account will be delinquent. I signed the revised agreement and then that reset the process of being current to XX/XX/XXXX. I dont need to tell you what the interest rate will look like in XXXX. Potentially 2 % higher than what it would have been in XXXX. Which is higher than what it wouldve been in XXXX. XX/XX/XXXX was supposed to be my new current day according to the agreement signed in XXXX. The many missteps of XXXX has prevented me from refinancing at a lower rate. My current statement is not current. They have been working on the deferral agreement for over 180 days. Millions of Americans have received COVID relief and the ability to refinance at a lower rate, which would be a huge step towards financial freedom for my family and I. Could you help right this wrong? Sincerely yours,
01/23/2023 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • PA
  • 195XX
Web
The mortgage lender had provided an escrow analysis that we had a XXXX surplus in our escrow account, but that they were increasing our mortgage by approximately {$300.00} dollars monthly because our taxes were increasing. After contacting the mortgage company and reviewing numbers, they said our taxes were XXXX higher than they actually were. After I reviewed my property information with my school district and township ; I verified my property 's tax amount. The township and district had also made me aware that I was in default on all taxes, and that they had received no payments from my mortgage company. I then reached out again to the mortgage company and provided these amounts and also asked that they redo the escrow analysis, as well as bring the taxes up to date. This was on XX/XX/XXXX, when they claimed they were going to redo the escrow analysis and do a formal investigation with our township, and would reach back out within ten business days. They also had reviewed information with me on this call, and said that the parcel number I provided was not the parcel number that they had, so they had the wrong parcel number the entirety of our loan. They never reached back out or performed the analysis or investigation at this time. They did however pay the back taxes on XX/XX/22 in two payments : one at {$5100.00} and the other at {$2100.00}. as you can see from attached bill, they also had to pay the penalty amounts because they never made the payments- thus my taxes are even lower than the payments they made. I call back in the second week of XXXX and had to restart this process with them and ask for a new escrow analysis. When they had provided the first escrow analysis, they stated my payment and escrow account was increasing because my taxes were increasing, but I confirmed the taxes are significantly lower than they were stating. As you can see from their payment to bring us current, our annual taxes are approximately {$7300.00} annually. They were saying our taxes were {$9700.00}. They stated they would update the tax amount then run the new escrow analysis, and when they completed it they said our escrow account had a {$5900.00} shortage and rose our payment even higher. SO they increased our payment from {$2900.00} ; to then {$3200.00}, to now {$3500.00} with no increase in our taxes, and no change in mortgage or property insurance. They even display in their escrow analysis disclosure statement that our escrow payment is decreasing from {$1200.00} to {$1000.00} ; and that they corrected the taxes to show the lower amount- but somehow found that we have a {$6000.00} dollar shortage in our escrow account. I have spent countless hours on the phone with them, and at this point have no resolution. They continue to raise our mortgage without justification. And as you can see from the closing disclosure attached, the company was already taking XXXX which is more than enough to cover my taxes and homeowners insurance with plenty of money left over. My homeowners insurance plus the taxes annually comes to a total of {$9000.00}.
02/28/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CO
  • 80031
Web
My first mortgage loan was transferred to The Money Source ( TMS ) for servicing in XX/XX/2021. In XXXX, I set up an online payment for XX/XX/XXXX, for {$1000.00} plus an additional {$100.00} in principal. In late XXXX, I changed the scheduled payment to remove the additional {$100.00} and to only pay the {$1000.00} that was due on XX/XX/XXXX. When I noticed that my {$1000.00} mortgage payment had not yet debited my checking account on XX/XX/XXXX, I logged into my TMS account and saw a message that there was an issue with my payment and to contact customer service. As instructed, I called the customer service team at XXXX, at XXXX XXXX time on Wednesday, XX/XX/XXXX. The individual I spoke with could not provide me with an explanation for why there was an issue with my scheduled payment, but she suggested that she could schedule a payment for me over the phone, which I did. On XX/XX/XXXX, my account was debited for {$1100.00} ( not the amount I had authorized ), and on XX/XX/XXXX, my account was debited for {$1000.00}. This caused countless issues with my cash flow, as well as advances from my overdraft line of credit. When I called TMS to try and resolve this error ( first on XX/XX/XXXX, again on XX/XX/XXXX, and again on XX/XX/XXXX ), they advised that I would need to email proof of the double payment from my financial institution before they would refund the second payment, and that they would not refund the interest charges on my overdraft line of credit, because the error " wasn't their fault. '' I did email the requested information on XX/XX/XXXX, even though it seemed laughable I needed to provide proof of two payments to the very company that had pulled my money twice. After several days had passed with no response, I called TMS again on XX/XX/XXXX and spoke with someone who confirmed that the email I sent was received, but that it hadn't yet been looked at. Another individual advised me that the documentation I submitted wasn't acceptable, because it didn't include my full account number and wasn't an official statement ( this is apparently because people try to scam the system or something ; the logic of this argument eludes me when, once again, TMS had possession of my money and all I wanted was for them to return the second payment to me via the same ACH channel ). I never was successful in resolving the error with TMS, a situation made even more frustrating when I received notice that my loan was being transferred again, to another servicer. I did not authorize two mortgage payments, and the TMS individual I spoke with on XX/XX/XXXX did not alert me to the fact that I would be making two payments if I authorized a payment with her. According to my phone records, I spent XXXX minutes attempting to resolve this with TMS, along with time spent retrieving and emailing the requested information. The level of frustration and stress this caused my family is outrageous, and beyond the incredibly low service level TMS provides, the fact that they held my money hostage for several weeks shouldn't be acceptable ( or legal ).
12/22/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • PA
  • 157XX
Web Servicemember
XX/XX/XXXX- submitted my most recent tax bill to my mortgage company and followed up with them twice to make sure it was paid ( the local tax office and I were also in contact so I knew it hadnt been paid yet ). On my 2nd or 3rd time contacting the mortgage company : TMS XXXX The Money Source ) I was told my payment had been sent. At that point I didnt think about the situation until I got another tax bill from my tax company with overdue amount of {$1000.00} for school tax and $ XXXX county tax and {$23.00} district tax Which must be paid by XX/XX/XXXX or else it will be turned over to the county as delinquent and incur more fees for being such. I immediately contacted XXXX to question why my taxes hadnt been paid. This was XX/XX/XXXX? And I spoke to XXXX in the tax dept. Who filed my initial complaint and explained they had sent a check to local tax office in XXXX, PA on XX/XX/XXXX in amount of {$570.00} for school district tax and it was returned to TMS for incorrect amount. I was told this would have an escalated flag put on it. On XX/XX/XXXX I contacted TMS to follow up again and spoke with XXXX from the Tax dept and he explained it was still under investigation and they probably could not pay it till after new year. I explained it will be turned over XXXX XXXX as delinquent by that time ( which means any payment TMS sends to local tax office will once again be returned because the county now handles it and the amount would be higher for delinquent fees XXXX. XXXX assured me that theyd pay any extra fees since it would be their fault but otherwise couldnt give me any more answers. XX/XX/XXXX I called TMS again to see what the status was for my case and spoke with XXXX from the tax department who said its still being researched and a check is scheduled to be sent out XX/XX/XXXX. I once again expressed to XXXX that this will be after the due date and payments can no longer be sent to the tax office and will also have additional delinquent fees applied. I expressed reasonable frustration as to why if I had submitted the documentation from the tax office for the necessary amount why they werent sending the check now. I asked to speak with a supervisor and was told he was busy and would respond within 24hrs. I asked that if the payment was returned back in XXXX for incorrect amount why I had never been contacted about it by TMS or why TMS didnt contact the tax office to find out why the amount was incorrect/question something, anything! It was simply ignored and no one told me anything and now Im left on the hook for delinquent taxes. I went through this same situation last year and had to pay the full amount myself. So why am I paying into escrow if I constantly have to babysit the mortgage company to make sure they pay the bills that I send to them? Everyone wants their money from me but no one seems to be in a hurry to apply said money where it belongs. Ive also had issues with TMS not paying my homeowners insurance till the last absolute minute!
01/11/2022 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • SD
  • 57701
Web
I bought my home in XXXX XXXX with an FHA loan and am facing a sale date on XX/XX/XXXX by the servicer Money Source. I have gone through a difficult time and hardship due to XXXX, XXXX XXXX for my mother and father ( now deceased ) and also because my fiancee moved out. I have never been considered for the government CARES Act Forbearance plan or been considered for loan modification by the servicer Money Source. I am trying to get them to postpone my sale date so that I can be considered for these government programs. I have been told that Money Source is required by the government to review me for both of these programs, but they are denying me access. I have gone through a very difficult two years and when I got back on my feet I contacted them to try and resume payments and was told that I had no options other than to pay back all the missed payments in one lump sum. This was not possible at the time, I wanted to resume making regular payments to fix this problem but they told me no. They said that was my only option, but now I have found out that since I have a government backed loan I should have been reviewed for the CARES Act forbearance program or for a loan modification, repayment plan, partial claim or forbearance. None of this happened and I am facing the loss of my home in a matter of days. I have tried calling Money Source several times to explain and request that they work with me, but they transfer me from department to department and tell me there is nothing they can do. I bought my home with an FHA loan in XXXX and made an {$11000.00} down payment. I have worked as an equipment operator laying asphalt for 9 years and with my income and the help of my fiance had no problem keeping up with the bills. However in XX/XX/XXXX my fiance left me and I was in a difficult financial position. Just a few months later Covid hit and it impacted my hours at work. This also coincided with my father 's XXXX and XXXX getting worse to the point that he had to eventually go into hospice. At the same time my mother was going through XXXX treatment so I had to help them both out with transportation, appointments, prescriptions etc and was unable to keep up with my bills. At the time I was so overwhelmed between all of this chaos that I did not ask for help from Money Source because there was no $ $ to pay them. Things started to come back together for me in XXXX and work resumed with regular hours and my father passed. Since I was back on my feet I reached out to Money Source several months ago to resume payments but was told it was too late. No one at Money Source explained that the government had the CARES Act available for borrowers struggling with government loans -- -nobody told me that I could apply for a modification or some type of restructure of my loan, instead they just turned me down. I realize that this is last minute, but I believe I deserve a chance to at least be considered for these programs before they take my home away.
01/11/2022 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • SD
  • 57701
Web
I bought my home in XXXX XXXX with an FHA loan and am facing a sale date on XX/XX/XXXX by the servicer Money Source. I have gone through a difficult time and hardship due to Covid, crippling sickness for my mother and father ( now deceased ) and also because my fiancee moved out. I have never been considered for the government CARES Act Forbearance plan or been considered for loan modification by the servicer Money Source. I am trying to get them to postpone my sale date so that I can be considered for these government programs. I have been told that Money Source is required by the government to review me for both of these programs, but they are denying me access. I have gone through a very difficult two years and when I got back on my feet I contacted them several months ago to try and resume payments and was told that I had no options other than to pay back all the missed payments in one lump sum. This was not possible at the time, I wanted to resume making regular payments to fix this problem but they told me no. They said that was my only option, but now I have found out that since I have a government backed loan I should have been reviewed for the CARES Act forbearance program or for a loan modification, repayment plan, partial claim or forbearance. None of this happened and I am facing the loss of my home in a matter of days. I have tried calling Money Source several times to explain and request that they work with me, but they transfer me from department to department and tell me there is nothing they can do. I bought my home with an FHA loan in XXXX and made an {$11000.00} down payment. I have worked as an XXXX XXXX XXXX XXXX for 9 years and with my income and the help of my fiancee had no problem keeping up with the bills. However in XX/XX/XXXX my fiancee left me and I was in a difficult financial position. Just a few months later Covid hit and it impacted my hours at work. This also coincided with my father 's XXXX and XXXX getting worse to the point that he had to eventually go into hospice. At the same time my mother was going through XXXX treatment so I had to help them both out with transportation, appointments, prescriptions etc and was unable to keep up with my bills. At the time I was so overwhelmed between all of this chaos that I did not ask for help from Money Source because there was no $ $ to pay them. Things started to come back together for me in XXXX and work resumed with regular hours and my father passed. Since I was back on my feet I reached out to Money Source to resume payments but was told it was too late. No one at Money Source explained that the government had the CARES Act available for borrowers struggling with government loans -- -nobody told me that I could apply for a modification or some type of restructure of my loan, instead they just turned me down. I realize that this is last minute, but I believe I deserve a chance to at least be considered for these programs before they take my home away.
01/17/2018 Yes
  • Mortgage
  • VA mortgage
  • Struggling to pay mortgage
  • AK
  • 996XX
Web Servicemember
We have a VA mortgage that is currently serviced by The Money Source. My husband was laid off from his XXXX a year job on XX/XX/XXXX. We were making payments just fine until about Fall of XX/XX/XXXX when we really started to struggle even though he did get another job right away. It was a job that did not pay nearly as much as the one he lost. Plus the mortgage company adjusted our mortgage payment but did not send us a letter to notify us of the change so come XX/XX/XXXX until about XX/XX/XXXX or XX/XX/XXXX, we paid what we thought was the regular payment. So there was a balance adding up each month without them notifying us at all. Come XX/XX/XXXX, we found out about the extra balance and started struggling to make the payments on the balance due and the higher mortgage payment ( it was adjusted from XXXX to XXXX to make up for a shortage in our escrow account ). We have continued to struggle into Fall XX/XX/XXXX, able to only make one payment ( with often two payments due ) but now we are four payments behind and have not been able to make a full payment since XX/XX/XXXX. XXXX would not give us emergency assistance as we do not qualify ( we make more than 700 a month, but not enough to cover our bills and mortgage ). We were given info about the HAMP program from The Money Source and filled out and turned in their Loss Mitigation AKA Borrower Assistance paperwork. We have communicated often, cooperated fully, and provided everything that they asked for. On numerous occasions now they have sent out letters saying that we did not turn in paperwork either at all or on time ( which we have proof that we did turn in the paperwork and ON TIME ). Last weekend, on XX/XX/XXXX we received a letter saying they denied us for borrower assistance because we did n't turn in the requested paperwork.. which we DID ... and I have the proof to show we did, and BEFORE the deadline.. They called us today to ask us to pay our past due balance of four payments and I told them no and talked to them about the borrower assistance and the supposed mix up that occurred. They were not happy that I have multiple proofs that we turned ALL requested papers ON TIME but said they would re-open our assistance file. In the meantime, " XXXX '' also stated that we still have to make at least one payment before XX/XX/XXXX or they will start foreclosing on us ( even though we were told by " XXXX '' that while in review for assistance, our account is essentially frozen from moving into foreclosure ) He claims its just in case we get denied.. We are very worried they are trying to push us into foreclosure even though we have cooperated fully and expect our financial situation to get better in a few months now. We had issues with them when we were going to be refinanced also.. so we are not surprised but we are scared also and need help to make sure they are not trying to purposely XXXX us out of our house. I have more proof than what is attached also, if needed.
05/21/2021 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • FL
  • 32507
Web
Ever since The Money Source which potray 's themselves as a mortgage servicer when all they are is a debt collection company aquired my FHA mortgage I have had nothing but problems, harrassing phone calls, harrassing letters and Unauthorized Interest, FEES or CHARGES to my Home Mortgage loan. The Money Source can not explain the FEE 's and CHARGE 's they have charged me over the period of time they have had my mortgage. I have contacted their Customer Careologist as they call themselves requesting coipes of the so called " Property Inspection reports '' they have charged me for, I have requested coipes of the " Survey 's " they say they have had done and i have been charged for, i have requested copies of the Vacant Property Registration they charged me for and questioned why they did that when I live on my property, I have questioned the charges for XXXX XXXX charge and the XXXX XXXX XXXX charge. They cant Explain all of the charges and fees and they refuse to give me copies of what they are charging me for, or even explain themselves. They claim these fees and charges are corporate advances. I have requested a copy of my Loan Contract where it shows these Fees and Charges maybe possible but they refuse. The Inspections they claim to be having done they are charging me {$20.00} each time here are the dates i have XXXX, XX/XX/XXXX, XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX - I was charged {$180.00} XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and so far XX/XX/XXXX this totals upto {$460.00} in charges. The Surveys they claim to have had done they have charged me {$35.00} each on the following datesXXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX which has costed me an additional {$210.00} in fees then to add to it the XXXXXXXX XXXX on XXXX/XXXX i was charged {$290.00} the XXXX XXXX on XX/XX/XXXX i was charged {$24.00} and the Vacant Property Registration which is a complete lie by The Money Source on XX/XX/XXXX i was charged {$25.00} all these false anfd FAKE charges and Fees total so far up to {$1000.00} in unexplained and Unauthorized FEE 's and CHARGE 's. Also instead of The Money Source Paying my Homeowners Property Insurance out of my ESCROW like they are suppoed to be doing they took it upon themselves to not PAY my Homeowners Insurance and let it LAPSE so they could place their own policy on file at a cost of double what my policy was that i had ever since I first got the home. The Money Souce Charged me {$2100.00} for their policy and never informed me of them placing it on my home, nor did they ever inform me that they DID NOT Pay my Homeowners Policy causing it to LAPSE. My original cost for Insurance was {$1100.00} per year when they DID NOT pay the renewal my policy went up to {$1600.00} that is an increase of {$510.00} every year. they were also supposed to " reimburse me the {$2100.00} for the policy they had taken out with out my knowledge or concent but they didnt.
02/07/2018 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • GA
  • 30294
Web Older American, Servicemember
I am a XXXX Vet and in XXXX of XXXX, the VA truncated my benefit check. I could not keep up with my monthly obligations. After falling behind on my mortgage I was afforded a loan modification by the Money Source who held the mortgage. After filling out the XXXX loan application numerous times, I finally met there expectations and the paperwork was approved. My new mortgage went from XXXX to XXXX and my loan was split up into XXXX separate loans, XXXX for XXXX and the other was for XXXX due at the end of XXXX years. This was in XXXX or XXXX of XXXX. It is XX/XX/XXXX and I have been told that I have incurred an escrow deficit of XXXX and my mortgage payment has risen to {$1000.00}. until the deficit is caught up. Having called on this issue several times ( XXXX ) my experience has been once I got a rep to answer the call ; I was transferred several times to different departments and for now ; it was the bankruptcy department, because I am currently in litigation. After talking to XXXX of the agents on the subject ( Escrow Deficit ) I was placed on hold and them the line went dead and no one follow up with a call back, even though the rep required me to give them a call number in case we were disconnected. It is my thoughts that there is gross mismanagement and misconduct going on with this company and how they handle our escrow accounts. Between XX/XX/XXXX and XX/XX/XXXX, I have only missed XXXX or XXXX payments ; XX/XX/XXXX through XX/XX/XXXX. I pulled up my transaction history ( mortgage payments made ) and I made XXXX payments that {$240.00} ( {$3900.00} ) went to escrow from XX/XX/XXXX to XX/XX/XXXX. From XXXX to XXXX nothing was added to escrow even though I was making mortgage payments. XXXX to XXXX of XXXX, I made XXXX payments of {$720.00}, to qualify for the loan modification. From the period of XXXX through XXXX of XXXX The XXXX XXXX made transactions that are unclear. My previous mortgage was modified from XXXX to XXXX separate loans ; XXXX for {$87000.00} for a XXXX year period and {$35000.00} was due in XXXX lump sum at the end of that XXXX year period. After going through all that the Money Source required of me and missing only XXXX to XXXX payments and paying into the escrow account as I did ; I find it very hard to believe that in a two-year span having paid out only {$930.00} for the first years taxes and {$1500.00} for the second years ' taxes that I incurred an escrow deficit. Something is very wrong with this company. I find it very difficult to believe that after paying a little over XXXX years of mortgage payments and missing XXXX or XXXX and The Money Source only paying out {$930.00} for the first year and {$1500.00} for the second year ; that I am in a deficit of over {$2000.00} and they want to XXXX my payment up from {$700.00} to {$1000.00}. to cover this so-called deficit. The Money Source has gotten over {$7400.00} in escrow from me and has paid out about {$2500.00} for taxes.
07/23/2019 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • GA
  • 30318
Web
This case is a second filing against The Money Source. The original issue has not been resolved. Please refer to the previous case if needed. The case number is XXXX. I refinanced my mortgage through XXXX XXXX. I closed on refinancing on XX/XX/2019. I was directed by XXXX XXXX to make my monthly payment to The Money Source, their loan servicer. I made a monthly payment as well as two payments toward the principal. In total, I paid The Money Source {$3500.00} between XX/XX/XXXX and XX/XX/2019. Of the {$3500.00}, {$1200.00} was interest, {$480.00} was escrow, and the rest went towards my principal balance Sometime in late XXXX, XXXX XXXX sold my loan to XXXX. However, when I received my first statement from XXXX, I was surprised to see that XXXX was not reflecting any of the payments I made to The Money Source. On XX/XX/2019, TMS responded " To Whom It May Concern : The Money Source ( NMLS # XXXX ) ( TMS ) is in receipt of the complaint filed by Mr. XXXX XXXX ( the Borrower ) with the Consumer Financial Protection Bureau. Mr. XXXX complaint states that after refinancing his loan with XXXX XXXX, he has received conflicting information regarding who is servicing his loan and to whom he should be making the XX/XX/2019 payment. Upon receipt of the complaint, TMS conducted a thorough review of the Borrowers loan file and determined that the Borrower closed on his loan on XX/XX/2019 with XXXX XXXX. On XX/XX/XXXX, the loan was sent to TMS, XXXX XXXX subservicer. The Borrower made two principal payments on XX/XX/XXXX and XX/XX/XXXX, respectively, prior to making the regular monthly payment for XXXX on XX/XX/2019. XXXX XXXX sold the loan to XXXX XXXX on XX/XX/XXXX, and the loan was set to automatically transfer to XXXX after the balance had decreased by the amount of the scheduled XXXX payment. Due to the initial principal reductions, the pre-set balance threshold did not match, and the loan did not automatically transfer to XXXX. As of the date of this letter, the loan has been manually transferred to XXXX, including the XXXX payment made to TMS and the additional principal amounts. The XX/XX/2019 payment, in the amount of {$2200.00}, should be made to XXXX XXXX. All further inquiries should be directed to XXXX, using the following information : XXXX XXXX XXXX. XXXX XXXX XXXX, MD XXXX XXXX If you have any questions or need further information, please contact me by phone at XXXX or email at XXXX. Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX '' However, according to XXXX, the additional principal payments were not remitted to XXXX until XX/XX/2019 ( see CFPB case XXXX ). On XX/XX/2019, I received an email from XXXX saying the check for {$1200.00} from TMS had bounced. I called the XXXX Mortgage customer service number and was told TMS placed a stop payment on the aforementioned check. As of XX/XX/XXXX, my mortgage principal balance does not reflect the {$1200.00} paid to The Money Source in XXXX of 2019.
04/16/2022 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • TN
  • 37128
Web
I have been dealing with so much from The Money Source their customer service has been extremely difficult for me they have dropped the ball on my loan and compromised my loan Most every time I call they dont know what I am speaking of concerning my mortgage and that I need to fill out a loan modification and my loan is in foreclosure simply because they did not record any procedures that went on during Covid forbearance. Even before Covid they have been unreliable customer service not keeping track of any of the calls I made. Every time I called talking to a different person I dont even think the same people work there week to week. I regret the day my loan got sold to them from one of the best companies I ever had by default In XX/XX/XXXX I called to reinstate my forbearance and they said I did not call in XX/XX/XXXX to do that in the first place and that my loan was in foreclosure and then I had to fill out a loan modification I was not prepared to do that at all and then when that went through they said my dates that I sat down and sign with the notary did not match so then I had to fill out another packet and then within two weeks they had expected me to make a payment when all I wanted was longer forbearance I am still having a hard time finding a job and I have decided to open my own small studio in some suites to make more money and be in charge of my own money I do not want to lose my home I do not want to lose my car Im behind on my homeowners association payments and they have a lien on my property I have been through XXXX since Covid XX/XX/XXXX I lost my job of 13 years and I can not get a refinance because of my credit it has really been a disaster I just want to start my own business and make my own money. If I could access money I could do that. Every company I have worked for has stolen tremendous amounts of money from me therefore I do want to work for myself now. I have been let go because of lack of professionalism on the part of the business and I cant even collect unemployment. I have a equity in my home I do not want to lose my investment it is all I have. I have worked hard all my life to get where I have gotten and I dont want to lose everything and every day I am in a panic that I am going to get everything taken away from me. My mortgage company has not helped with that as now they are sending me default letters after only a month. I called and told them what was going on and they told me to fill out yet another loss mitigation packet I can not take it much longer. I do have an application in with XXXX I do not know know how long that will take. But I just need some time this has not gone away. Covid is still affecting my life very much it just snowballs. Just because it goes away in the world doesnt mean the bills got caught up they just snowballed. I am very behind on everything and I am about to lose my car as well I do not know what to do please help me.
01/25/2021 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • CA
  • 95829
Web
In XXXX I got a notice from my job that they were moving out of state and that I would be laid off in 6 months. I informed my servicer that my income will be changing and submitted my severance letter to them. I applied for a loan modification and was denied. Their representative told me it was because I was not 60 day behind. I asked her if I had to be 60 days behind in order to be approved, I was told yes. I went 60 past due and applied again. I was granted a forbearance not a modification. Then Covid-19 happened. Right when I was hired at a new job in XXXX of XXXX I informed my servicer and made a payment. A week later I was laid off due to Covid-19. I made my servicer aware that I was now laid off due to Covid-19. Again, I was not offered any Covid-19 relief. I asked why and a representative says it's because I was past due in XX/XX/XXXX advised her that I was only behind due to their instruction on how I was going to qualify for a loan modification. I was told I had an unemployment forbearance once that forbearance had expired I was still unemployed due to Covid-19, again I was not given nor offered any type of Covid-19 relief. I was denied repeatedly for a modification and my credit is ruined because they are reporting a year 's worth of non-payments. I wrote them a letter informing them that if not the first forbearance but at least the second and third forbearance should have been under Covid-19. I had to pay XXXX XXXX XXXX for 3 months. I submitted to them the same information I submitted to my servicer. Still I have asked for some one in management to assist me with resolving this issue, I get no response or resolution from them. I believe the way my account was handled was deceptive and unfair collection practices. I was TOLD by my servicer to go 60 delinquent. I have asked them to pull the call they haven't I asked them to pull all my calls to see how I was treated and how my account was just completed disregarded even though I had an legitimate hardship according to their own literature that they sent me. So why was I repeatedly denied? I feel like they just wanted to foreclose on me. I received no assistance, direction or information on how best to keep my account in good standing while experiencing a hardship first due to my job leaving the state and second due to me losing a job because of Covid0-19. They should not be allowed to toy with people 's lively hoods. They threatened the wellbeing and livelihood of me and my special needs son by not taking our hardship seriously and by not trying to find a resolution. They either wanted all money upfront to reinstate the loan or it was going to be foreclosure. I have asked them to retract the months off my credit history and provide me the Covid-19 relief I'm entitled to. My account would have never gone past due if it wasn't for their direction telling me it's the only way they would approve a loan modification.
06/21/2019 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • MD
  • 209XX
Web
XX/XX/2019 XXXX XXXX/XXXX XXXX XXXX Lender - The Money Source Loan number - XXXX XXXX XXXX XXXX XXXX XXXX, MD XXXX To whom it may concern, We're filing this complaint against TMS, in an effort to put an end to the deceptive business practices that we've experienced since first approaching them for a loan modification, on XX/XX/XXXX. Each of these individuals have been an active participant in the deception, however, XXXX XXXX is the supervisor in this area and has contributed the most. XXXX XXXX XXXX - XXXX XXXX XXXX - XXXX XXXX XXXX - XXXX For the last six months, we have been repeatedly submitting the same documents and chasing people down, to simply get updates. Every time we've spoken with our single point of contact, no matter who it's been, they've never fully disclosed all of the updates/documents that TMS was requiring. Even after our asking them flat-out if there was anything else needed. Our first request for modification was denied, the reason being - we didn't meet Seasoning Requirements for a modification. When XXXX explain this to us, he told us that we needed to be with TMS for a minimum of 12 months before any modification could be done. We contacted HUD and spoke to an FHA Counselor - this seasoning requirement does NOT apply on FHA Loans! When we brought this to XXXX 's attention - not only on the phone, but with the actual HUD guideline in an email - he told us that it wasn't proof enough to change the determination and that we needed to wait. The most recent Act of direct deception came on XX/XX/XXXX, when we were told by XXXX that the RMA form that we submitted was not the correct form that TMS requires. Even though, it was the form that we used for our first modification request and it was perfectly acceptable. When this was brought to XXXX 's attention - he confirmed that she was incorrect and simply kicked the can down the road. All we've been trying to do, for the last six months, is resolve this matter and go back to making our mortgage payments. We've called TMS no less than a hundred times in the last six months and we are no closer to resolving this matter than we were in XX/XX/XXXX. Also, our online account shows that we're in active foreclosure - this can't be possible, given that they have yet to file the motion for Summary Judgment. Again. Deception. It's clear that TMS is engaging, fully, in these business practices - if not all out fraud - with regards to resolving this matter with us. The property value on our home has increased and we're certain that they see this as a huge moneymaker, if they were to complete the foreclosure process and send our home to sale. Again, we're coming to you, because you have the power to bring these this company back in line. I've attached all relevant documents. Please assist us. I can be reached at - XXXX or by email at XXXX Thank you in advance for your assistance with this!
12/06/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Closing on a mortgage
  • CA
  • 90038
Web
The Money Source ( TMS ) was my mortgage servicer and I refinanced with XXXX XXXX effective XX/XX/XXXX. XXXXXXXX XXXX wired transferred to TMS on XX/XX/XXXX, provided to confirmation number : XXXX. Email reply on XX/XX/XXXX, from XXXX XXXX from XXXX XXXX ( processor of refinance on behalf of XXXX XXXX ) : Additionally, our payoff to The Money Source was successfully sent via wire on XX/XX/XXXX. The confirmation number is XXXX. Today, XX/XX/XXXX, TMS reports receipt of funds for XX/XX/XXXX and charged late and other fees that were not recorded in their " payoff statement ''. These TMS fees were labelled as " Irregular payment charge '' for : {$270.00}. However, in my XXXXr TMS statement, TMS notified late charge of {$270.00} would be applied if payment was received later than XX/XX/XXXX. Therefore TMS has charged me the above stated amounts with no justification since my mortgage payment was due by XX/XX/XXXX, and XXXX XXXX fully paid my principal and interest and more by XX/XX/XXXX. Further, on XX/XX/XXXX, XXXX XXXX paid TMS {>= $1,000,000}. The Payoff StatemenXXXX provided by TMS, attached informed payoff amounts as : 1. Current unpaid Principal Balance is : {>= $1,000,000} Interest at 3.00000 % XXXX Recording Fee XXXX XXXX XXXX XXXX XXXX XXXX XXXX Additional Fees XXXX Payoff Statement Fee XXXX * * * * TOTAL AMOUNT TO PAY LOAN IN FULL * * * * * {>= $1,000,000} *** TOTAL AMOUNT PAID BY XXXX XXXX XXXX ( {>= $1,000,000} ) TMS Payoff letter ( attached ) does not list any additional fees that they have charged me ( listed in 1st paragraph for {$270.00} ). Per TMS 's XX/XX/XXXX statement, the {$270.00} refers to late charge if payment were submitted after XX/XX/XXXX. I therefore accuse TMS of making 2 inaccurate accounting errors and 1 Untimely payment of overpaid mortgage payoff funds due to borrower for : 1 ) False accounting of recording mortgage payoff payment receipt as XX/XX/XXXX when confirmation from XXXX XXXX ( refinanced bank ) shows wire transfer on XX/XX/XXXX. 2 ) False or unexplained additional fee of {$270.00} that is not explained anywhere in their PayoXXXX Notice. 3 ) As of today, XX/XX/XXXX XXXX is still holding the overpayment of over $ XXXX due to me. XX/XX/XXXX - After numerous attempts of calling TMS from XX/XX/XXXX currently, I was not allowed to speak with anyone but the " customer service '' agent who stated that a supervisor needed to be contacted. I waited to speak with a supervisor for 43 minutes but no supervisor picked up the phone. The operator instead came back after 43 minutes stated that supervisor was still not available and that a supervisor will call me and as of XXXX XXXX I received no call back. The customer service agent reported that TMS intends to pay me about {$9600.00} but that this check has not yet been made. The fees of question was an issue the customer service agent could not explain.
03/09/2022 No
  • Mortgage
  • VA mortgage
  • Struggling to pay mortgage
  • NV
  • 89120
Web Servicemember
In XX/XX/XXXX, my wife and I purchased our home with a VA loan ( I am a veteran on XXXX XXXX XXXX XXXXXXXX ) from XXXX XXXX. In XX/XX/XXXX, we went on a covid forbearance for 6 months. We were told that there would be no penalities, no fees and no payments that would be due during the forbearance and when it was over we would be able to push the payments during the forbearance to the back end of the loan and just resume normal, on-time payments when it was done. In XX/XX/XXXX, my wife got XXXX and lost work so we extended the forbearance through XX/XX/XXXX. At the end of XX/XX/XXXX, I spoke with an agent at XXXX XXXX to resolve the forbearance with a plan that would roll the missed payments to the back end of the loan and we would start making regular loan payments in XX/XX/XXXX after they send documents for us to sign and return updating the terms of the loan. They never sent the documents to return and when I called to find out what was going on, I was told that they didn't know why the documents were never written up or sent. They confirmed that the call I made with the agent about resolving the forbearance happened since they didn't seem to believe me and still couldn't explain why it was never done. They made no further effort to resolve the forbearance and update our mortgage, never even sent invoices for mortgage payments and in XX/XX/XXXX, they sold our mortgage to a collection company, The Money Source. When I asked why they sold our mortgage off to a collection company they said they did it to " free up capital '' and that was something ALL lenders do ALL the time. The Money Source did not believe or care that we were on a forbearance and their resolution was to charge us varying amounts of interest ranging from $ 27k- $ 43k -- we received multiple bills and they were declaring us delinquent on our mortgage and over 444 days behind on our mortgage. They started a campaign of harassment against us by calling daily early in the morning, every morning, to " update us on the status of our mortgage '', yet could not explain how a mortgage would change so much so often that we would need daily, early morning updates. They tanked our credit scores by reporting us delinquent to all credit agencies and were sending us bills for the full amount of " interest '' we supposedly owed while we were on the forbearance as well as bills for the payments of the mortgage, yet they had never sent us any documentation to resolve the forbearance either. We completed 3 payments earlier this year that was supposed to resolve the issue and they were to send documents for us to sign for regular mortgage payments going forward. They sent documents but did not subtract the payments we had already sent them against the total of the mortgage and still wanted us to make higher monthly payments and pay a massive lump sum of " interest ''.
05/03/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • TX
  • 77407
Web Older American
On XX/XX/XXXX, I refinanced my loan with XXXX with monthly payment as follows : Principal : {$340.00} Interest : {$410.00} Total : {$760.00} Paid {$800.00}. {$36.00} towards principal I was informed that The Money Source Inc. ( TMS ) would be XXXXhe servicing company. The Money Source Inc. ( TMS ) XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, CT XXXX XXXX : XXXX Emai : XXXX XXXX gave me two loan numbers as follows : Second TMS Loan No. : XXXX XXXX XXXX First/Original TMS Loan No. XXXX XXXX XXXX XXXX Account No : XXXX XXXX XXXX I was informed that the payment would start from XX/XX/XXXX. Since I could not set up an online payment ( due to technical problem of TMS website ), I sent a check for {$800.00} to TMS which received it. In the meantime, I received to notifications that my servicing account was transferred to XXXX. According to the notification which I received from XXXX XXXX ( dated XX/XX/XXXX ) and XXXX ( XX/XX/XXXX ), my loan was transferred to XXXX effective XX/XX/XXXX, XXXX and XX/XX/XXXX respectively ( please see the attached ). But according to an email which I received from TMS said that " effective XX/XX/XXXX, the servicing of your loan will be transferred to XXXX XXXX d/b/a XXXX XXXX ( copy attached herewith ). I called TMS a total of three times. At all those occasions, I was told that the {$800.00} which remitted to it would be transferred to XXXX. On XX/XX/XXXX, I called TMS and talked with one XXXX XXXX. She told me that according to the law, TMS can hold the money for 90 days and within 30 days, {$800.00} will be transferred to XXXX. On XX/XX/XXXX, I called TMS and spoke with XXXX XXXX. She said TMS did not transfer {$800.00}. On XX/XX/XXXX, I also spoke with Spoke with XXXX XXXX of TMS. He said TMS received {$800.00} on XX/XX/XXXX. He said that {$800.00} was not transferred, it would take up to 60 days. I told him that period was over. He said that XXXX XXXX provided an account number of XXXX XXXX XXXX. In fact, MrCooper.com account number is : XXXX XXXX XXXX. XXXX XXXX, after checking with someone else, said that {$800.00} is for TMS for the month of XX/XX/XXXX, and payments to XXXX should start from XX/XX/XXXX. Then he said that the TMS is entitled to {$800.00} as the account was transferred to XXXX only on XX/XX/XXXX I told him that Fannie Mae and XXXX informed me that my mortgage servicing was transferred to XXXX on XX/XX/XXXX, and XXXX respectively, and emailed a copy of those letters. He said he would further make a research on this. On XX/XX/XXXX, XXXX XXXX called me back and said that {$800.00} was wire-transferred to XXXX on XX/XX/XXXX. Ref. No : XXXX XXXX XXXX XXXX XXXX XXXX. I spoke with the Customer Service of XXXX which said that it did not received {$800.00} from TMS. I would appreciate very much if you could ask TMS to refund me {$800.00}.
10/05/2021 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • FL
  • 32277
Web Older American, Servicemember
Originally, my VA mortgage was with XXXX XXXX. After several months, XXXX sold my VA loan to TMS ( The Money Source ) Bank. I did not want to do business with this bank in the first place because I had never heard of it and was satisfied with XXXX. Secondly, I had an agreement with XXXX that all payments over the regular, required, monthly amount would be fully applied to my principal balance upon payment. When TMS acquired my VA loan, I was told, in writing, that " Nothing would change '' and that I had the same agreements as with my previous loan servicer, XXXX XXXX. I then continued to make very large payments, 2 to 3 times the regular monthly amount. Instead of applying the extra amount to my principal, TMS applied all extra amounts as if they were individual, additional monthly payments, taking full interest and escrow amounts out of each divided payment. This, in effect, was not only violating my previous agreement that I had with XXXX XXXX, but also violating the specific contract term that I would not be " penalized '' for early payments. TMS Bank has now taken more than {$5000.00} in extra payments and applied nearly 25 % of it to interest and escrow amounts instead of to my principal balance. TMS bank now has deducted more interest and escrow in just seven ( 7 ) months than I should pay the entire year. This has been happening since XXXX, 2021 and continued until now. So far, TMS has charged me {$4800.00} in XXXX and {$3300.00} in interest in just six months. My total annual escrow payments only come to about {$2800.00} per year! It took me 3 months just to get them on the phone because they did not have anyone answering the phones, just playing " excuse '' messages about Corona Virus staffing shortages. When I did finally get someone on the phone about 3 or 4 weeks ago, the " Customer Service Representative '' stated that I would have to include a special written note with every payment for extra amounts to be applied to principal. When I told him that was NOT acceptable because I make all payments through XXXX XXXX XXXX XXXX System which does not allow any special notes, and I did not ever have to do such ridiculous extra process with any other bank, and I have dealt with numerous banks before, owning three other properties in my life. TMS has done all that they could to continue to illegally take my money and place it toward their profits and beneficial usage, gaining interest off of my money the entire time, while making me pay a far higher interest rate than I should be paying. They were notified by phone and by written letter. The only response was that it would take them another 30 days to give a final " decision ''. THERE IS NO DECISION! IT IS MY MONEY, and they should apply it THE WAY THAT I WANT TO MAKE PAYMENTS or be sued and fined.
05/03/2023 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • KS
  • 667XX
Web
I am a XXXX XXXX and my wife is XXXX. We bought our house in XXXX XXXX Kansas in XXXX with an FHA loan. We had a lot of problems because of Covid that led to loss of income and problems with our mortgage payments. We asked the lender Money Source for help but they never provided any relief and we now find ourselves in foreclosure with a court date scheduled for XX/XX/XXXX. We are back on our feet and can afford our mortgage payment, the problem is that XXXX XXXX told us we have to pay back {$7000.00} to them in one payment ( this is missed mortgage payments and legal fees ) and we can't do this. We believe they should be working with us to provide help for struggling homeowners since this is a government backed loan instead of refusing to accept our payments and starting foreclosure. We had no problems with paying our bills or making the mortgage payment until Covid affected my job and my income which was overwhelming, then the utility bills skyrocketed and the power got turned off and my wife took out a car title loan and then a high interest internet loan to try and keep paying the bills. We did miss some mortgage payments, but then my wife would pay the next month and include extra to get caught up. She asked Money Source for help and we were told to send in paperwork about our hardship. She sent documents in probably 4 different times and I don't believe we were ever considered for a loan modification or partial claim or forbearance. Around that time the pipes burst in our kitchen. We were without water for almost 2 weeks. We could not afford to hire a plumber so I took time off of work to remove the dishwasher and repair the plumbing so we could get the water working again. This cost us at least a thousand dollars in missed time at work and parts to repair and just put us in a deeper hole. We are back on our feet financially and have continued making our regular payments and paying a bit extra when we can to catch up the past due and the lender has always accepted these payments from us as recently as XX/XX/XXXX. But when we tried to make our mortgage payment in XXXX XXXX XXXX told us that they would no longer accept our regular payment and that we needed to make a lump sum payment of {$7000.00} to pay back all of the missed mortgage payments, interest, late fees and legal fees. Then they served us with a foreclosure notice and scheduled a court date. This is an avoidable foreclosure. Our hardship was related to Covid and since we have an FHA backed loan Money Source was supposed to offer us the CARES forbearance and this did not happen. Money Source is also required as a servicer of an FHA loan to consider us for all homeowner assistance programs such as loan modification, special forbearance, partial claim and repayment plan.
03/07/2019 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • MD
  • 209XX
Web
XX/XX/XXXX XXXX XXXX XXXX : The Money Source Loan number : XXXX XXXX XXXX XXXX XXXX XXXX, MD XXXX Good morning, We're submitting this complaint for the purpose of asking your assistance in dealings with XXXX, surrounding our loan Modification request. We began our conversations with XXXX on XX/XX/XXXX and submitted all requested documentation shortly thereafter. Documentation was received, by them, on XX/XX/XXXX. Since that time, we've been dealing with XXXX XXXX - who informed us that SHE was our single point of contact ( untrue ). Her extension is XXXX. Over the course of the last 30 days, XXXX has told us that Underwriting had questions regarding our XXXX XXXX XXXX and supplemental Letters of Explanation. On four separate occasions, we were asked to resubmit the same documentation. ( at XXXX 's request, her saying that it was Underwriting asking for the updates/with no clear explanation ) It wasn't until last week, when we had an opportunity to speak with a different individual, that we were told exactly what the issues of those documents war. We took immediate corrective action and submitted those documents 24 hours later. Our next follow-up call, with XXXX, brought us the same results as the previous for conversations. Again, she insisted that Underwriting needed an explanation on the documents that we had repeatedly explained to her, over the phone and in the detailed Letters of Explanation. Yesterday we had a conversation with XXXX, extension XXXX, and again, we were told that there was a request for an explanation of our XXXX XXXX XXXX, our most recent bank deposits, and the Letters of Explanation, surrounding our lease agreement. ( We currently do not have a lease agreements with any subletters ) After explaining everything to her and her actually taking the time to look at the documents, she agreed that what we've provided is satisfactory for the individual who is - SETTING UP THE FILE TO COMPLETE IT AND THEN SEND IT TO UNDERWRITING. This means that our file has been pending set up approval for 30 days and Underwriting has yet to see it. It's painfully clear to us that XXXX is actively working to willfully mislead us and break our spirits. This is a very sizable loan and the value of our home has gone up, since we purchased it. We are requesting that you step in and demand that they take corrective action and move our Modification request through the process in a timely manner. Our mortgage payments are in excess of {$5000.00} per month and every month that goes by, the fees and penalties add up in a tremendous manner. I've attached copies of the notes from every conversation that we've had with them to this Thank you for your help with this! You can speak with my wife XXXX XXXX XXXX. She is also on the loan.
12/21/2015 Yes
  • Mortgage
  • VA mortgage
  • Loan servicing, payments, escrow account
  • OR
  • XXXXX
Web Servicemember
On XXXX XXXX, 2015, I contacted my then-mortgage company XXXX XXXX XXXX XXXX XXXX, XXXX XXXX because I received a property tax bill from XXXX XXXX. After speaking with XXXX XXXX representative, I was told by a representative from the mortgage company that property taxes were paid on my behalf, & to not worry about it. At the same time, my loan was being sold to The Money Source, Inc. ( TMSI ). On this same day XXXX XXXX/XXXX/15 ), I contacted TMSI as well to ensure they had the same understanding regarding my property taxes. A TMSI representative said not to worry about it. That was over one month ago. This past weekend ( XXXX/XXXX/15 ) I received the usual monthly mortgage bill from TMSI but with an increased monthly balance of {$200.00}. Today ( XXXX/XXXX/15 ) I called TMSI & a representative said my escrow balance was negative. TMSI never sent me an escrow analysis, nor did they forewarn me that my monthly mortgage would increase. I was shocked to found out less than two weeks prior to the due date. This same representative said they paid my property taxes & that was why my escrow account was negative. This same day ( XXXX/XXXX/15 ) I called XXXX & XXXX XXXX only to find out XXXX XXXX was paid twice - once by XXXX & once by TMSI. TMSI completely ignored my original call on XXXX/XXXX/15, & did n't bother to confirm with XXXX or XXXX XXXX that my property taxes were already paid. A representative from TMSI then said I would have to search for the missing money, continue to pay the increase monthly mortgage amount, & then request a refund. TMSI should request a refund from XXXX XXXX, not me. In addition, I should not have to pay for TMSI 's mistake. TMSI failed to perform due diligance & then expected me to fix their error. TMSI did n't even know they had duplicated the property tax payment until I notified them. Now TMSI expects me to pay extra each month while I clean the mess they made. TMSI should fix their own error, apologize profusely, & expect the usual monthly mortgage payment from me ( instead of expecting me to pay an additional {$200.00} each month ). TMSI lacks any level of professionalism. When I attempted to explain my situation to XXXX in TMSI 's tax office, he said if I had a problem with XXXX XXXX that I should contact them directly. The problem is not between me & XXXX XXXX. In addition to a huge lack of professionalism & business integrity, the problem of miscommunication exists between TMSI, XXXX, & XXXX XXXX. I contacted all three entities on XXXX/XXXX/15 to avoid having this very issue arise over a month later. In addition, TMSI should be penalized by having to pay a reasonable fine & be placed on indefinite probation. Thank you. [ TMSI individuals I spoke with on XXXX/XXXX/15 : XXXX, XXXX, XXXX, XXXX, XXXX XXXX
09/28/2017 No
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • NJ
  • 07112
Web
We successfully applied for a mortgage modification in XX/XX/XXXX with XXXX on our MoneySource loan. We paid all three trial period payments and were granted modification. I was subsequently laid off from my job in finance during economic downturn. We were unable to pay mortgage thereafter. I regained employment in XX/XX/XXXX and reapplied for the mortgage modification with MoneySource and we were accepted into the modification trial period in XX/XX/XXXX to begin in XX/XX/XXXX at {$2400.00} per month through XX/XX/XXXX. We made the XX/XX/XXXX and XX/XX/XXXX payments in a timely fashion and then we were told that they would not accept our third payment in the month of XX/XX/XXXX because they had made a mistake in granting us the modification trial period due to the fact that FHA guidelines require a 24 month period between loan modifications and in our case there had only been a 12 month period since our prior modification. Presumably the mortgage company should have been fully aware of this FHA policy prior to granting us the new modification trial period. As a result, we had no choice but to wait an additional 12 months until the 24 month period had lapsed and save mortgage payments to the best of our abilities. We applied again in XX/XX/XXXX and were accepted on XX/XX/XXXX to a new modification with three months of trial payments to begin in XX/XX/XXXX at $ XXXX/mnth. We paid XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX mortgage trial period payments in a timely fashion, however, after making the final payment in our trial period, we were told that due to the recalculation of escrow amounts after the end of the trial period in XX/XX/XXXX, an increase in escrow had made it such that our mortgage payment levels to be paid on a monthly basis were no longer at an acceptable dollar amount and that we must apply for a new modification trial period again from scratch. It turns out that due to the Money Sources incorrect escrow calculations, we had been set up to fail in the trial period even though we met the guidelines that had been set forth for us. Several requests to receive a response in writing outlining the specific reasons for the denial after we had successfully complied with the trial period went unanswered. Also, in parallel to the mortgage company seeking a new borrower response package from us ( including paystubs, forms, etc. ) to qualify for a new trial period beyond the 3 month trial period we had just successfully finished in XX/XX/XXXX, we received a letter in XX/XX/XXXX announcing the mortgage companys intent to accelerate and foreclose. Clearly, if we were being asked to apply for a new modification trial period, the mortgage company should not be also pursuing foreclosure at the same time.
12/10/2016 Yes
  • Mortgage
  • FHA mortgage
  • Loan servicing, payments, escrow account
  • OH
  • 43560
Web Servicemember
Back in XXXX I stopped paying my mortgage because of a medical condition caused by my XXXX, which caused me to XXXX and not remember to pay bills. I missed my XXXX payment, paid in XXXX, and stopped paying through XXXX of XXXX. I received a letter from XXXX in XXXX and my husband opened it and made me call to make arrangements to pay the months that were missed. The letter stated that if they did n't hear from me within 30 days that it would go into pre-foreclosure, and even though I called within the 30 day window, the told me that it had been sent the day before and they would n't accept any payments. At that point I had all of the money in my account to pay the back balance in full ( over XXXX in my checking account ) but they refused to accept my payment. I was told that someone would be contacting me to make arrangements to stop the foreclosure proceedings. In XXXX I was contacted and they told me that I could resume making normal payments again but only in the amount due and only by check through the mail, so from XXXX through XXXX I did that, and starting in XXXX my husband took over the finances to make sure that everything was paid on time. I signed a Loan Modification Agreement, and the person that I talked to on the phone said that there was nothing they could do about reporting the late payments from XXXX but that once the paperwork was signed, that the foreclosure proceedings would be removed. From XXXX XXXX until we sold the house in XXXX of XXXX we never missed another payment, and no foreclosure paperwork was ever filed with the court. When we went to get a approval to buy another home though, they were reporting my payments late until XXXX of XXXX, so we had to wait at least until XXXX of XXXX before we could get approved. I sent the credit bureau 's paper work with bank statements that showed that each one of our checks cleared from XXXX XXXX to XXXX XXXX, but XXXX XXXX came back and said that they were reporting accurately. With that being said, we tried again in XXXX, and now the credit reports show XXXX lenders XXXX XXXX and The Money Source both reporting during overlapping times, and now it shows up as a foreclosure from XXXX XXXX through XXXX XXXX. We could n't do anything at that point, so we tried again in XXXX of XXXX and now the foreclosure is reporting through XXXX XXXX. XXXX is reporting the foreclosure and The Money Source is reporting late through that whole period at the same time. We first had to prove that it was n't a foreclosure and that there was only one company servicing the loan, they are both the same company and when we did the modification they changed who serviced it from XXXX to The Money Source and every time we dispute it, the issue gets worse.
11/02/2022 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • TX
  • 76036
Web
The Money Source shows my account is past due after loan modification was completed. I have been trying to work with company since XXXX of this year to get things straight. Here is some background In XXXX of this year I started the loan modification process on my mortgage due to a significant increase in monthly amount which caused me to get behind in payments. During the loan modification process I made two payments to help with my balances Here are the amounts and dates of payments made during the modification process XXXX - {$1800.00} XX/XX/XXXX - {$1800.00} - This payment was returned due to using the incorrect bank account XX/XX/XXXX - {$1800.00} - This payment was made to replace the XX/XX/XXXX payment using the correct bank account I spoke with an agent on XX/XX/XXXX and she advised I did not have to make any additional payments until my modification was completed. I then received my modification paperwork signed it and returned. Modification completed first payment due XX/XX/XXXX. Here are my payments made since XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX I begin receiving letters that my mortgage was past due. This was not true as I have been making my payment monthly since the modification. I contacted The Money Source and was advised the following reasons by agents as to why my account was past due 1. My first payment after the loan modification went to my past due payment from XXXX. 2. The payment went toward the payment returned in XX/XX/XXXX After lengthy discussions with several agents internal cases were opened to have the issue corrected only for the special loans department to deny the request. Here are the cases that have been submitted since I begin having these conversions in XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I have requested to speak with supervisor numerous times and have been denied each time. The latest to decline to speak with me is XXXX. Here are my questions and issues 1. If my loan was modified and all balance prior to XXXX included in that modification Why do I still carry a balance from XX/XX/XXXX 2. If I replaced the returned payment on XX/XX/XXXX why is that balance still showing owed. An why would that balance be owed if it was an additional payment made while payments were suspended on account? This has been a major headache and XXXX is reporting my mortgage as late in my credit report. This company has been a headache to deal with during and after the modification process. My experience during the modification process is a complaint in itself.
07/07/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • CA
  • 92064
Web
I requested a loan recast on XX/XX/XXXXand sent a {$50000.00} ( $ XXXX to pay down the principal and {$300.00} for processing fee ) cashier 's check on XX/XX/XXXX. After they received the check, I found out they didn't apply the whole $ XXXX toward the principal. Instead they applied a big portion toward future mortgage payment. After that issue was fixed, they were supposed to send me the recast agreement to sign and return. I found out by the recast agreement document they posted on my account online, they sent the document to Idaho while I live in California. So I printed the agreement and notorized it and sent it using the mailing label included in the Recast Agreement on XX/XX/XXXX. While the agreement said to send it back to their office in Connecticut the mailing label was addressed to XXXX XXXX in XXXX Arizona, so I called them to make sure it was OK to send the agreement to the XXXX office and I was told they have an office in XXXX and it was OK to use the mailing label. Tracking system showed the agreement was delivered on XX/XX/XXXX. OnXX/XX/XXXX, I had an envelope marked as confidential on my front door that had a cover page instructing me to call a local company to sign and notorized the included recast agreement which I did already a few days before. I've been calling since XX/XX/XXXX to find out the recast status, whenever I got to talk to a customer service representative nobody knew the status. They promised to call me back and I haven't heard back I also emailed them 3 times while auto reply said they'd get back within 48 hours, but I haven't heard back. This is my complaint about the recast. My second issue with The Money Source is they sent me the XXXX form with incorrect interest paid for XXXX. With the attached monthly transactions and XX/XX/XXXX statement, I found out they didn't include interest paid for XX/XX/XXXX in the amount of {$490.00}. I called to request correction of 1098 early XXXX and haven't heard back for a couple of weeks, so I called again and no status on that. Then around XX/XX/XXXX, I received a XXXX INT 1098 that is {$490.00} more than the amount in the original 1098 form posted on my account at the beginning of XXXX. They corrected the wrong 1098!! I called and they told me I had to call the IRS to correct it because the IRS gave them that amount which is completely wrong. They are the one reported the info to the IRS. Up till today they still wouldn't admit they made a mistake on my XXXX 1098 form and added a mistake to my XXXX 1098 form. Because of their mistake, I have to file for extension for tax return for the first time. TMS should not be in the mortgage business.
03/11/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • MA
  • 02139
Web
XXXX services a mortgage I have on a residential property. I use their auto-pay service, set up using their web site. On XX/XX/XXXX, I logged in to adjust the automatic payment amount. The web site told me as part of this process that it was cancelling my existing automatic payment. It was not clear to me whether this meant my XXXX payment was cancelled and I needed to make a new one time payment, so I called customer service. XXXX customer service on XX/XX/XXXX told me that yes, my XX/XX/XXXX auto-payment was cancelled and would be automatically refunded to me. They said I needed to make a new one time payment for XXXX, and auto-pay would resume in XXXX. Following their instructions, I made a one time payment. On XX/XX/XXXX, I saw that my checking account balance was very low, and that the XX/XX/XXXX auto payment had actually gone through, in addition to my subsequence one time payment. I called customer service to confirm that the first payment would be automatically refunded to me, and they told me that no, it would not be. So, I had been fooled into double-paying. After escalation to a manager, they agreed to wire the money back to my account that Friday ( XX/XX/XXXX ). They asked for, and I provided, a PDF of a screenshot of recent transactions from my bank 's web site, showing that the original auto-payment had posted. On XX/XX/XXXX, when I did not receive the money, I called again. After escalation to a manager, they told me that their refunding department had rejected my PDF because the page did not say the full name of the bank. They did not inform me of this until I called them on the afternoon of XX/XX/XXXX. I explained to them that my bank 's web site does not show the bank 's name, only their logo, on the page that lists recent transactions. They said there was nothing they could do about that. I also called the bank to find out if they could provide me a PDF of recent transactions that shows the bank 's name, but they said all they can give me is what's on the web site, or I could wait for my monthly statement- which will be on XX/XX/XXXX. I've tried several more times to get XXXX to refund my money quickly. They are unwilling to take responsibility for the fact that their misinformation fooled me into paying them, and they are unwilling to fix the problem. Even though their own systems clearly must show that they withdrew this payment from my account, and that they have my money, they still insist on receiving a PDF from me to prove what they already know, and they require a PDF they know I can not provide because my bank 's web site doesn't display its name on the transactions page.
04/30/2021 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • GA
  • 30043
Web
The Mortgage Company has completed 2 loan modifications for me previously. Both increased my mortgage payment which I was having a difficult time being in first place which is why I feel like requiring the loan modification. After the second loan modification I feel behind almost immediately. Shortly after that Covid started And somehow I was put on the forbearance program. I continue to make monthly payments in some cases more than I could when I get afford it trying to get it got it. I was told this year 2021 that they were increasing my payment again because the escrow a short. The escrow was short because I fell behind on my payments not because it wasnt right in the first place. On XX/XX/XXXX they sent me paperwork to do another loan modification which I really do not want to do. I told them this because each time theyve done on my modification for me I have been screwed over and I have to pay a higher monthly payment. The loss mitigation department told me that they would except partial payments to try to help me get this caught up as quickly as I could while I contemplated doing the new loan modification. They excepted payment of {$1600.00} which was processed on XX/XX/XXXX. I called back today to try to make another partial payment of {$500.00} and just set up a partial payment for next Friday of another {$500.00} and then to schedule another {$1600.00} by the end of the month. But because customer service group has refused to connect me to last mitigation. The customer service group continues to tell me that I have to make at least Two payments which will be over {$3000.00} or they can except no pain at all when I try to explain to them that Ive already spoken to Loss mitigation twice this month, they tell me that lost medication can do nothing to help me and they just keep telling me I need to make a payment of {$3000.00} just get it caught up 30 days behind. I would like for the loss mitigation department to contact me and to except my partial payments as Im doing everything I can to catch my mortgage loan up without having to do another screwed up screwed modification. I would not recommend this mortgage gauge company to anyone they do nothing to help people and all Im trying to do is to get my payment caught up which fell behind because they increased my mortgage payment and my interest-rate when they did a loan modification. Please have someone call me from the money source preferably may be a lawyer or somebody from last medication so I can start making these payments. Customer customer service department refuses absolutely refuses to connect me with loss mitigation. XXXX XXXX XXXX XXXX XXXX
02/11/2020 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • KS
  • 67213
Web
This is concerning our escrow account there has been several mistakes with our escrow being that the mortgage company paid to insurance companies that we did not authorize to be paid when we requested that they paid the third we had been notified then that they had overpaid and they had paid to other insurance companies and of course requested us to pay the money back when we did the mayonnaise was not properly executed to the right accounts or the it was not dispersed into the right accounts and there has been several escrows that has been done since then and every time I call them it seems like it gets worse and worse and I we just feel like our backs against the wall that we've been cornered and either we do as the mortgage company says and we pay what they say will be homeless we have paid back every dime that they we have instructed us to pay back and they still today to say we are behindaccording to our end of year mortgage tax statement we have paid him a {$6000.00} in escrow this year as of XXXX of last year to present date and that we only have {$500.00} in our escrow account every time I call and ask to speak with somebody in the escrow department or in the escrow analysis department I am told they did not take phone calls I can not speak with anybody higher than a customer service representative we are just floored we don't know what to do we don't know where to turn or every other month car payment is different than what it was the previous month and we just feel like they are doing our escrow analysis in the presumption that our escrow is going to be over {$5000.00} this year and there needs to be no more than {$2100.00} in our escrow and I believe they are doing the analysis as projecting it to me over {$5000.00} and I can't seem to get anybody to understand that is not correct we just don't know where to turn and don't know what to do and we need help it is an FHA loan we do pay the FHA mortgage insurance it is also a fixed loan it is not a very veritable like I said I have made several attempts and several phone calls to try to fix the situation and every time I do it seems to get worse I had the first payment that we sent back to them was over {$1800.00} when we sent it back they applied {$1300.00} to the principal instead of the escrow when I called to get that corrected then they applied {$700.00} to principal and I believe {$500.00} or {$600.00} to the escrow they have never applied the funds as we have instructed and they have done whatever it is they wanted to do with that regardless of how we instructed them to apply the funds and we are just in an in desperate need of some help
10/13/2020 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • CO
  • 80504
Web Servicemember
have been trying to resolve an issue with insurance claim funds, due to me, with this company for 7 months via phone calls and written correspondence since XX/XX/XXXX, without even the courtesy of a reply. Please see details in the letter below. XX/XX/XXXX Attn : Managers in both Bankruptcy and Loss Drafts Dept. Re : Loan ending XXXX Claim : XXXX and XXXX The Money Source XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, CT XXXX To Whom It May Concern : I am hoping someone there can help me as I have already spent over 5 hours on the phone with both the bankruptcy and loss drafts dept, several times, and neither says they can help me. Then every time they try to conference in the other department to try to work this out together, they hang up on me and dont call back, so I am beyond frustrated and feeling taken advantage of as we are going on 3 months without any resolution or headway being made. Between XX/XX/XXXX and XX/XX/XXXX I missed 3 mortgage payments as I just assumed my unused funds from the two claims above would be used to cover those costs as they were with prior claims after the work was completed. However, in XXXX I was notified that you had not approved that this time and I was going to have to go to court on XX/XX/XXXX if my loan was not brought current through XXXX. So, on XX/XX/XXXX, I borrowed those funds from my retirement account to avoid going to court. I paid the full {$7000.00}, listed on your motion, out of my pocket to be current through XX/XX/XXXX and then have made all subsequent payments on time. But then in May, bankruptcy finally approved using the insurance funds to get my account current. The problem is though, that my account was already current so, the insurance funds should have been sent back to me. There should have been {$2200.00} remaining on claim XXXX and {$5000.00} remaining from claim XXXX for a total of {$7200.00} coming back to me. This has not happened, nor have I received 3.4 months of credit towards future payments ( XXXX owed to me / XXXX per month mortgage ). I either need to be refunded those insurance funds ( my preference ) or, at least be able to recoup the extra money I laid out, by getting the full credit for XXXX, XXXX XXXX and part of XXXX XXXX mortgage payments as everything else is current through XX/XX/XXXX. My request would be to get the refund back via check to be able to put back into my retirement account. Since we are now on the third month of trying resolve this issue, I am hoping you can provide me an answer in writing ( Mail or Email ) no later than XX/XX/XXXX. Thank you in advance for your attention and cooperation in this matter.
02/04/2022 Yes
  • Credit reporting, credit repair services, or other personal consumer reports
  • Credit reporting
  • Incorrect information on your report
  • Account status incorrect
  • CA
  • 93552
Web
On XX/XX/XXXX, the co-borrower on our mortgage account advised me that our account had been reported to the credit bureaus as 30 days delinquent and our credit files had lost nearly 100 points. I called The Money Source ( TMS ) to reconfirm forbearance from XX/XX/XXXX, until XX/XX/XXXX. TMS rep, XXXX, confirmed my current forbearance and assured me the credit reporting department would fix the reporting error. Unfortunately for us, this error can cause our pending SBA loan to be denied. We are trying to start a business to better our own financial future and now we have to deal with correcting this error due to the incompetence of the TMS staff. This is not the first time that TMS has made critical mistakes that could have been catastrophic for us. In XXXX of XXXX, they accidentally removed our mortgage account from the COVID-10 Cares Act forbearance program, and we were in danger of being reported delinquent at that time. Luckily, I called TMS and caught the error in time ( CFPB Case # XXXX ). It is hard enough for XXXX people in this country to establish themselves financially and I am beginning to think this is being done intentionally. How can this mortgage company be this inefficient and inept? XX/XX/XXXX, I received a call from TMS rep, XXXX. He called to discuss refinance options. He had not read through my file beforehand, or he would have seen that I was just coming off of a COVID-19 forbearance plan and was not eligible for refinancing at that time. XXXX prematurely transferred me to XXXX XXXX who ran my credit report, simply because I showed interest in refinancing. I never agreed to have XXXX run my credit, but they did, and I lost points and gained a hard inquiry. I called TMS that same day to have them remove it and it still has not been removed as of today. These anomalies cost consumers and it is unfair that we have to suffer through COVID-19 and all its physical, emotional, and financial traumas, along with TMS bungling mistakes that TMS obviously does not take seriously enough to make sure they read our files before making decisions. The Cares Act forbearance plan is to help deal with COVID-19 ... not make it worse. The law protects consumers when their credit reports contain inaccurate information. Under the federal Fair Credit Reporting Act ( FCRA ), consumer reporting agencies, as well as companies that provide them with consumers data, must report accurate information and fix errors that have been disputed. If this recent error causes our SBA loan to be denied, we will have no other choice than to take legal action against TMS.
01/22/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • GA
  • 30004
Web
In spring of XXXX, we refinanced using XXXX and our loan become serviced by The Money Source ( TMS ). No issues at the start. Fast forward to the fall of XXXX when we received our tax bills. We uploaded them into their system as requested. Despite us paying into an escrow account as originated in the loan, TMS failed to pay our taxes due on XX/XX/XXXX and XX/XX/XXXX. We noticed the money had not come out of the escrow account in XXXX and call TMS to inquire as to why it had not been paid. XX/XX/XXXX : Contacted TMS. Was told by their customer service team that when they set us up in the system, they incorrectly set up the account as a non-escrow account. This was an error on their end that they needed to correct in their system to process the payments. We were told they would call us back within 24 hours. XX/XX/XXXX : We did not receive a call back as promised. Called the customer service line again. This time, we were told the exact same thing and also told that no ticket was made to resolve the original setup issue. I ticket was put in at this time and we were told we would receive a call back within 2 days. No call was every received. XXXX, XXXX : My husband called back again. He was told that the setup issue was resolved and that if he uploaded our tax documents again, they would be paid immediately. XXXX : We received a notification from the county that the taxes has NOT been paid and they were going to place a lien on my house if they were not promptly paid. In addition, they're charging a 5 % late fee. We called TMS again. We were told that the system error has NOT been resolved and that needed to happen before taxes would be paid. We explained the situation at length. Spoke with both customer service ( twice ) and the tax department. Not only could the not resolve the issue, they didn't have anyone to escalate it. Once again, I was told they would call us back the next day. I told them that at this time, that was not an acceptable answer ... this needed to be resolved TODAY. This was an issue/error on their part and we, as the consumer, should not be responsible for their inability to do their job as our loan servicer. Despite this, I was left on hold by the tax department for 30 minutes when I was eventually hung up on. XX/XX/XXXX : At this point, we have exhausted all avenues of support available to us via TMS and their support line. We are not sure as to resolve this issue. The money is available in the account and payment needs to be issues immediately. We will be looking into legal action against this company.
05/03/2019 Yes
  • Mortgage
  • FHA mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • CA
  • 93305
Web Servicemember
I am filing a complaint because the Money source has failed to provided the correct information. They are stating to the lender I have been late 13 times in the last 12 months, then another rep states I have been late 2 times and then another rep say 10 times. XXXX has tried to gather information in order to pay off the money source and close my loan. the money source has done this to previous costumers in the past as you can view these complaints at the XXXX. I have filed with them as well. I need further help. After sending the email below, XXXX XXXX from The Money source called me. There are so many conflicting documents and information being thrown around and that is not fair to our borrower. The one thing every agent ( we worked with 4 ) from the money source can agree on is that there have been 0 late payments in the last 12 months. Going back further, Keep your home CA was making those payments on XXXX behalf. That is why we are paying off keep your home CA with this refinance transaction. The Money Source does not do verbal verification with XXXX and us, however, we got them to give us the information from 2 different agent and both had different information the rules and they accepted to do 2 previously. Yesterday, XXXX, myself and the borrower were on the line for over 2 hours trying to get the dates of the 4 late payments added to the last supplement. However, no one would give us that information. They said theyve given all they can and they can no longer accept any phone calls. Ive received the following attached documents all within the last week. As you can see, they all have very different information. The last 2 attachments are from verbal verifications we did on the phone with you ( The Money Source ), XXXX and the borrower. That is what we prefer. However, if you are unable to do a verbal again - that is fine. We can accept something showing The Money Sources name on the top. I am needing the following information : Has XXXX XXXX been had any late payments in the last 12 months? XX/XX/XXXX-XX/XX/XXXX. If so, what dates did those late payments occur? Has XXXX XXXX been had any 30+ day late payments in the last 24 months? XX/XX/XXXX-XX/XX/XXXX. If so, what dates did those late payments occur? Next payment date for his loan Last payment date for this loan Was this loan included in his bankruptcy? What is the outstanding balance? These were email correpospedece with them. They have refused to provide the correct information and the loan is unable to close because of this.
03/01/2021 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • FL
  • 32506
Web Servicemember
We have been with The Money Source since XXXX and the experience has been frustrating and disappointing. But this recent situation takes the cake. The Money Source has severely mishandled our escrow account. In XXXX XXXX, we submitted paperwork to our county tax office for our Homestead Exemption in which we are entitled to a Partial XXXX Veteran Discount and another discount from the county. I then called The Money Source to make them aware of the changes. I was asked if we were fully exempt and I let it be clearly known that we were not. I was then asked how much our tax bill going to be for XXXX. I had no idea, so I then asked our county tax office to assist me with answering TMSs questions. The tax office emailed me a letter stating what our estimated tax obligation would be for the year and I then faxed this letter to the TMS tax office at XXXX. I then called and verified that the document was received. Fast forward to XX/XX/XXXX, and we received our new escrow analysis showing that we have a shortage of around {$4600.00}. At some point, TMS removed the tax portion of our escrow and did not collect taxes from our monthly mortgage payment and when TMS received the tax bill from our county, they paid the bill with an escrow advance. We were not aware of what happened. We were under the impression that the proper projections had been made and that we were making the correct payment amount to cover both our taxes and insurance as usual. It has taken nearly 2 months of back and forth, shifting blame and confusion for TMS to admit to the mistake. But they have failed to make this mistake right. A debt was created on the behalf of The Money Source but instead of them rectifying the situation within the company, they are insisting that we pay the debt. If we were to pay this shortage, it will add nearly {$700.00} to our monthly payment, which will cause a financial hardship for our family. I have explained this to several XXXX and XXXX at The Money Source but we are being told there is nothing they can do other than assist us in paying this debt. I find this to be very unethical and a bad business practice. Not to mention, this not the only issue that we have had with XXXX. Thankful, we are in the middle of a refinancing so we will not have to continue to do business with XXXX in the future but unfortunately any balances that we currently owe to XXXX will be transferred into the new loan. And this escrow situation is causing confusion and delays in our refinance process. Its an absolute nightmare.
10/08/2018 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • WA
  • 986XX
Web
In early XX/XX/XXXXI applied for a mortgage refinance as required by my divorce decree through " XXXX XXXX '' since they had brokered the current mortgage with The Money Source. The process made it through collateral approval. I was then suddenly denied with no explanation. On or about XX/XX/2018 I applied for a mortgage modification, and was ultimately granted a SPECIAL forbearance. During the time of my special forbearance they canceled my forbearance because my ex wife didn't sign a document that I was promised she didn't have to sign in the first place. I was originally told I was the only who had to sign and was sent the according documents with a signature line for my ex wife. I was told only I needed to sign return the forbearance with her signature line, I insisted they send me the Special Forbearance agreement without her name and they suddenly terminated the special forbearance and sent the mortgage to foreclosure. I complied with everything up to the point they sent it to foreclosure. I contacted the trustee and paid to reinstate the mortgage. I contacted The Money Source and made arrangements to pay the back taxes and start paying regular payments again starting in XX/XX/XXXX, I sent the back taxes via XXXX and began making payments as agreed, then they returned the cashiers check I sent for the taxes as instructed with no explanation. Next I received a notice my XX/XX/XXXX payment mailed with plenty of time was not accepted and offering me " borrower assistance '' It turned out they were still trying to make me pay taxes and insurance in my payment and had held crediting my XX/XX/XXXX payment without notifying me. I called and again got this " no impound account situation '' corrected and was told by XXXX to make my original payment. But now it appears The Money Source held my XX/XX/XXXX payment and posted it XX/XX/2018 compromising me again-this payment was a cashiers check drafted XX/XX/2018 and sent with the first week of XX/XX/2018 USPS. Additionally, early during the many mortgage modification/special forbearance phone calls with The Money Source, I was told I would be granted a SPECIAL refinance to solve this issue, after I was promised this refinance they shortly after denied me for unknown reasons. After that had happened " The Money Source '' then told me just send in your divorce decree and we will take your wife off and restore her credit. I provided the documents and this was also reneged upon. This is still an on going issue and is a true burden on me.
09/09/2019 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • SC
  • 296XX
Web
XX/XX/XXXX To whom it may concern, I've been trying to Modify my home loan originally with XXXX XXXX / XXXX XXXX since XX/XX/XXXX. After completing and submitting my application XX/XX/XXXX, I never received a correspondence of denial or approval, and all calls went to voicemail, along with emails going unanswered. Pending a foreclosure hearing set for XX/XX/XXXX, I received a letter XX/XX/XXXX from the lender 's attorney stating the property is in foreclosure, and attached a occupied conveyance application for me to fill out. On this letter It also said it please contact XXXX XXXX if you have any questions. ( attached ) I immediately telephones XXXX XXXX XX/XX/XXXX, who then told me, they no longer owned my long since XX/XX/XXXX and I never knew. After a Web search I discovered the money source owned my loan. I reached out to the money source and told them I was in a process of a modification with loan care to no Avail. The money source offered me to apply for a modification with them and I submitted my application XX/XX/XXXX. XX/XX/XXXX I received a letter stating that the money source needed a bank statement I see it the money source the bank statement XX/XX/XXXX. XXXX The judge extended the foreclosure hearing since I was in the process of a Modification application. XXXX XXXX XXXX= follow up call with XXXX XXXX ext. XXXX, says I should hear something by Monday XXXX. Told him I was having issues with account manager, he said he would email supervisor. XXXX XXXX XXXX. = follow up voicemail to XXXX Re : not hearing nothing since Monday XXXX. XXXX XXXX XXXX =Still waiting on response from XXXX or a electronic correspondence to confirm my submission from XXXX will complete my application. XX/XX/XXXX Called T.M.S to follow up on application. Told by rep ( XXXX XXXX ) all documents had been received and to leave a message for XXXX. XX/XX/XXXX missed call from XXXX XXXX XXXX XX/XX/XXXX called XXXX back XXXX XXXX Held for 15 minutes, than sent to XXXX 's Voicemail. Left voicemail. XX/XX/XXXX called again to speak with XXXX Sent to voicemail. XXXX No returned call, no follow up documents on application status. XXXX I discovered TMS told their attorney they were waiting for documentation from me and I had till the end of the day to submit it. Documents I had and still have no idea about as of this letter. XXXX No returned phone call or answered phone call with TMS. Also no corresponding letter stating missing documents or of approval or denial.
07/12/2021 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • GA
  • 30253
Web
The Money Source has held my escrow overage for two consecutive years. I have called numerous times and they continue to make excuses. The Money Source is still refusing to issue my two escrow checks although they agreed to do so in response to my previous complaint XXXX # XXXX XXXX. I have called many times and continue to receive different excuses from different representatives and no call back from a supervisor as I have requested on several occasions. I am due a refund from last year that was never issued as well as this year. The first check should be {$1000.00} from XX/XX/XXXX and {$1200.00} for XXXX. The total amount due to me is {$2200.00}. Previous response on XX/XX/XXXX Consumer Financial Protection Bureau Online Portal Re : Case XXXX To Whom It May Concern : The Money Source XXXX XXXX NMLS # XXXX XXXX ( TMS ) is in receipt of the complaint filed by Ms. XXXX XXXX XXXX the Borrower ) with the Consumer Financial Protection Bureau. Ms. XXXX complaint states that TMS has not refunded her any escrow account surpluses. She also asked that her escrow account be reanalyzed. Upon receipt of the complaint, TMS conducted a thorough review of the loan file and determined that the Borrowers account has been active in a Chapter XXXX since XX/XX/XXXX. An escrow overage on a loan in active bankruptcy requires additional review and approvals prior to disbursements being generated. TMS analyzed the escrow account on XX/XX/XXXX and determined that there was a surplus of {$1100.00} in the escrow account. The surplus remained in the account, and the disbursement was not made. TMS performed the XXXX annual escrow analysis on XX/XX/XXXX. Due to an increase in the county taxes, the surplus decreased slightly from the {$1100.00} to {$1000.00}. As the Borrower requested, a new escrow analysis has been run to update the account. The homeowners insurance decreased from a yearly premium of {$1900.00} to {$1800.00}. The new surplus amount of {$1200.00} will be refunded to the Borrower within the next 7-10 business days. The new contractual payment amount has decreased from {$1700.00} to {$1700.00}, effective with the XX/XX/XXXX payment. At TMS, we strive to exceed our customers expectations with every interaction. TMS fell short of this goal and sincerely apologizes for the delay in sending the escrow surplus to the Borrower. Although the Money Source responded to this complaint they still have failed to meet the terms of the agreement and have failed to issue my escrow refunds.
06/08/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 95125
Web
This is related to a rental property located at XXXX XXXX XXXX, XXXX TX XXXX. The Money Source phone no. ( XXXX ) XXXX funded the loan ( XXXX ) and they escrow for insurance and property taxes. Back in XX/XX/XXXX, I got notice from XXXX XXXX XXXX where the property is located that taxes were due on XX/XX/XXXX for the amount of {$2900.00}. I called the Money Source and they told me to disregard the notice because they make payments automatically. On XX/XX/XXXX I got a notice in the mail from XXXX XXXX XXXX advising of delinquent taxes, a penalty and a potential lien to my property. I called the Money Source and gave the parcel number and they assured me not to worry, the payment will be made. I checked with XXXX XXXX XXXX on XX/XX/XXXX and no payment was posted. I panicked and paid the taxes and a penalty of {$260.00}. I paid a total of {$3200.00}. The Money Source website reads as if they made a payment for the base amount on XX/XX/XXXX. I called XXXX XXXX XXXX and they said they had rejected a payment that came after mine even though XXXX XXXX reads they paid on XX/XX/XXXX. I called the Money Source on 7 different occasions. XXXX, XX/XX/XXXX. On XX/XX/XXXX spoke to XXXX who said she can read a note from XXXX XXXX saying that on XX/XX/XXXX the county rejected the payment but the funds have yet to be posted to my escrow account. Every time I contact The Money Source the story is a bit different. They keep asking me to continue checking periodically. Called again on XX/XX/XXXX and XXXX said that there is not any activity on my account but that most likely they were not going to refund me the penalty I paid. It was my fault for making the payment. Called again today on XX/XX/XXXX and XXXX says that these issues can take 90 days to be resolved and that they are waiting for XXXX XXXX XXXX to return the funds. However, when I spoke to XXXX XXXX they said they didn't take any funds, they rejected the transaction. XXXX says that they have escalated my case but I still haven't seen any refund from XXXX XXXX. Please help me to get the {$3200.00} I paid. I feel I'm getting a runaround and that there is no accountability from these folks for their faulty system and the customer is be being penalized for 1. their failure to pay the escrowed taxes on time, 2. Not issuing me a refund the moment I called giving them proof of payment, 3. Not providing me a number where I can log a complaint with a person who has authority to resolve my case.
01/20/2020 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • TX
  • 79707
Web
I acquired a FHA loan in XX/XX/XXXX for which The Money Source, XXXX XXXX XXXX XXXX, XXXX XXXX, XXXX, CT acquired the loan and began servicing it. No issue with payments until XX/XX/XXXX for which one of my online payments was returned NSF for which I immediately resent until determining issue. This occurred again on XX/XX/XXXX for which payment was resubmitted on XX/XX/XXXX. Issues with payment were due to scheduled payments and direct deposit payroll occurred on same day and bank returned my payments. I was restricted by the The Money Source for six months from making online payments for which I contacted them and was given a bank account in Texas to wire my payments. This was done monthly from XX/XX/XXXX until XX/XX/XXXX. On average it has taken TMS around 20 days to locate my payments. In the course of the period, I was called daily numerous times about payment delinquent at which times I emailed copies of ACH/wire transfer confirmations from my bank. The XX/XX/XXXX payment was made on XX/XX/XXXX and was finally located and posted to my account on XX/XX/XXXX. I was called 117 times from TMS from XX/XX/XXXX until XX/XX/XXXX when the payment was finally found. Not only did they call me from XXXX, my caller id displayed call from County Jail ( XXXX ), The Money Store ( XXXX ) and 5 different local numbers from my area code that they were spoofing to get me to answer. I answered one of the calls and the agent told me that is was often then spoofed numbers so that consumers would answer phone. Not only were there excessive phone calls they would call numerous times in a row. Example on XX/XX/XXXX they called 7 times in a row at XXXX. I was at work but at XXXX I returned the call. Once again on XX/XX/XXXX I received 6 calls in a row at XXXX and 16 calls in a row at XXXX. On XX/XX/XXXX received 13 calls in a row at XXXX. On XX/XX/XXXX at XXXX TMS called 10 times in a tow. I returned the call at XXXX. Finally payment was located on XX/XX/XXXX and applied to my account. The entire time I was communicating with TMS and provided the same proof payment. During this period of time I was accused of not making payment, stating that funds were still in my personal account and recieved certified letter that I was 30 days delinquent and that by the end of XX/XX/XXXX my home would be reappraised and inspected. I am in awe that FHA loan servicing provider can use such antics. I feel as if there collection efforts were inexcessive and unnessary.
12/01/2020 Yes
  • Mortgage
  • FHA mortgage
  • Incorrect information on your report
  • OR
  • 975XX
Web Servicemember
We had a bankruptcy that did not involve our mortgage, yet our mortgage company incorrectly reported to the 3 credit bureaus that our mortgage was discharged. Our mortgage continues to be current for months now after the bankruptcy. This error makes it nearly impossible to repair our credit as it is the only payment history we have now that we are starting over. If this error were to be correctly reported, it would show several years of mortgage payment history with no late payments. We have made more than 36 calls and sent numerous emails over a 3 month period and can not get past the supervisor of what we hope is the right department. They keep saying they will call back and I keep requesting an email conversation because I can not have my cell phone at work to receive their calls. We were promised some type of status report at least 3 times and have heard nothing. We provided numerous documents that should make this error very obvious. I had to forward an email from their own attorney 3 different times, in which their attorney said there was nothing they could do, it was up to the company to correct the error. The error seems to stem from the company not receiving what is called a " reaffirmation ''. Although I am still not sure what this is, apparently it is something that was supposed to be submitted to our mortgage company by our bankruptcy attorney. Apparently, reaffirmations are required in some states and not others. Our bankruptcy occurred in Oregon where not only are they not required, but by all reports the bankruptcy courts won't even accept them. Our mortgage company is based on the East coast and their attorney is in California, where reaffirmations are required. We have tried repeatedly to explain that not only is there no reaffirmation, but even in states that DO issue them, our bankruptcy has already been completed and once that happens one can not be issued. It is extremely frustrating that the mortgage company has tons of notes containing all of the above information yet we can't get past customer service - who has to read through all of them during each phone call, then call for a supervisor if one is available and if not, they type them a message. If they log into our online account in their own system it shows our current payment status and it certainly shows the latest statement requiring a payment on a supposedly closed account from a bankruptcy that did not involve them.
02/18/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 92808
Web
I had an impound account with this lender and was making monthly taxes and insurance payments into the account. Unfortunately, the lender failed to pay my County Tax bill that was due on XX/XX/XXXX ( for {$2600.00} ). I tried contacting the lender twice on XX/XX/XXXX to discuss the issue, and both times was told that my taxes were not due, and that they did not fail to make the payment. After explaining the situation, they agreed to file an inquiry about the missing payment and said that I would hear back from them within ten business days. I never heard back. I've since sold the property ( on XX/XX/XXXX ), and have made the missing County Tax payment through my closing costs during Escrow - in the amount of {$2900.00} ( this was for the original {$2600.00} + a 10 % late penalty of {$260.00} ). I tried contacting the lender again on XX/XX/XXXX to request a reimbursement of the {$260.00} late penalty that I paid as a result of them not making the payment on time. The lender told me that they would file another inquiry, and that I should hear back from them within three business days. I never heard back. I contacted the lender again on XX/XX/XXXX for an update. I was told that the inquiry was closed on XX/XX/XXXX and that I would be receiving a check in the mail for the 10 % late penalty in the amount of {$260.00}. This check was never mailed. I contacted the lender again on XX/XX/XXXX for an update. I was told that the previous representatives that I spoke with about the issue did not fully understand the problem, and that a check was never mailed to me. They spoke to their supervisor, and told me that they needed to file an additional inquiry regarding the issue and promised to contact me within 48 hours with an update. I never heard back. I contacted the lender again on XX/XX/XXXX for an update. I was told that the inquiry was still in progress and that they didn't have an update available for me at this time. They promised to stay in contact with me and to provide updates as soon as they were available. As of XX/XX/XXXX I have not received any additional updates. I would like to be reimbursed for the {$260.00} late payment fee that I'm entitled to as a direct result of this lender failing to make my tax payment on time. I've tried contacting the lender six different times and the issue has now drug out for over two months without a resolution or any update from the lender.
07/05/2017 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • TX
  • XXXXX
Web Servicemember
Projected County Tax Due : Current year - {$5400.00} Prior Year - {$6000.00} On at least two occasions ( XXXX XXXX ; XXXX XXXX ), I spoke to Money Source and indicated to them that the estimated county taxes for the account were incorrect. The county had reduced the estimated taxes based on my homestead exemption. This exemption was not available to me at closing because I had not owned/lived in the property for a whole year. The adjustment to the county taxes after the first year of ownership is not unusual, because of the change in ownership. Money Source based their estimation on the prior years taxes ; on the ownership/residency status of the prior owner. I provided Money Source with an estimated tax bill from my county appraisal district. Money Source called my countys appraisal district prior to XXXX XXXX and the county confirmed that the estimate taxes had been adjusted based on my homestead exemption. On XXXX XXXX, I again spoke to Money Source and requested the adjustment in the estimated taxes. While on the phone with Money Source, we visited my county appraisal districts website and confirmed the reduction in the estimated taxes. Money Source said that they could not reduce the escrow payment to reflect the reduced county taxes.

Underestimating the Escrow Account Balance : In correlation with overestimating the county taxes on the escrow account, Money Source is underestimating the projected escrow balance. Together, this in turn produces a shortage that is high and artificial. Since the establishment of the escrow account, I have paid {$10000.00} into the account. Out of this amount, {$7900.00} was paid for taxes and insurance, leaving a balance of {$2100.00}. By Money Sources own account, the balance in the escrow account is {$2300.00}. To supposedly meet projected payments, Money Source raised the escrow payment from {$510.00} to {$760.00} for XXXX thru XXXX, 2017. On XXXX XXXX, it is projected to be raised to {$840.00}. This represents a 63 % rise in the monthly escrow, even though the account has never had a zero balance. The only shortage has been in the cushion. The new escrow rate of {$840.00} will aggregate to {$10000.00} over a twelve-month period. This represents an overage of {$1500.00} over that time period. The account should only accrue {$8500.00} ( {$5400.00} for taxes ; {$1900.00} for insurance ; {$1200.00} for escrow cushion ) over a 12-month period.

02/25/2019 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • CA
  • 95206
Web Older American, Servicemember
The Money Source Re : extortion CRR # XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX. XXXX XXXX XXXX CT. XXXX Sirs, this is in response to your false allegations of arrearages and threats to file a false report to the respective credit bureau. I do not owe you the monies you claim I owe you. You have not provided any documentation to substantiate those allegations they are bare allegations. I have asked you for documentation that shows the debt you claim I Owe and as of this letter IHAVE NOT RECEIVED ANY DOCUMENTs to substantiate your claims. You promised that the documents would be forthcoming but its been more than ten days and no documents. In addition you are not applying the monies I have sent to pay my mortgage. You accuse me of being late and add to my astonishment a late fee of XXXXdollars. These are pure bully tactics that are not only unprofessional but in my view illegal. My taxes are current and the next installment are not due till XX/XX/, 2019. I have paid my mortgage for XXXX fully. You are conflating the new tax increase with an additional installment on a debt of {$2500.00} that you claim I own without any proof. You make this allegation to justify the narrative to allege that my payment was incomplete and start foreclosure proceedings. You bought my loan from contour mortgage at which time you accepted the performance without claiming a breach had occurred I was faithfully paying them the same sum that I have been paying since the time you purchased my mortgage. I do acknowledge that my taxes have increased, and that amounts to a monthly {$64.00}. I have instructed XXXX XXXX to include the new projection of taxes in my monthly payment but they have dismissed me as a customer because of your antics, your refusal to apply my payments and deem them insufficient. The payment on the loan is not and has not been partial as you allege. I expect that you will apply the payments to amortize the loan. In the mail I received your threat to foreclose on my property it is all a ruse to foreclose my property. Wow!! I am a senior citizen, a vet and suffer from XXXX XXXX XXXX. Needless to say that I will be praying that you stop your harassment of me and restore my standing with you or suffer the consequence of your ill-legal antics at the hand of overseeing agencies. Please inform me of the path you choose. I will only be XXXX, and availing myself of every legal recourse.
09/14/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 951XX
Web
I received a supplemental property tax bill that was due XX/XX/2020 that I attempted to send to The Money Source multiple times through their website, mobile app, and email so it could be paid through my escrow account. I have email records proving that I sent it as recently as XX/XX/2020, acknowledged by The Money Source. The paper bill contains two bills with different payment dates. One on XX/XX/2020 for {$2200.00}, and the other on XX/XX/2020 for {$2200.00} The Money Source 's XXXX XXXX told me by email to call the XXXX department directly, which I did. They informed me that the bill would be paid directly by my escrow account and that it was unnecessary to call them. Regardless, they asked me for the XXXX numbers which I provided and said everything was in order, and I didn't need to contact them further. On XX/XX/XXXX, I received a delinquent tax bill requiring an additional {$240.00} because The Money Source did not pay the bill yet and it was late. I provided the delinquent bill by the website, mobile app, and email, and then also called them. I spoke with XXXX from the Customer Care Team ( extension XXXX ), who told me I would be called the next morning by XXXX on his team ( extension XXXX ). Both parties confirmed that they could see I sent the original bill on XX/XX/XXXX by email, and that my call to The Money Source 's tax department had been logged on XX/XX/XXXX. They confirmed the call had been recorded, and also confirmed that they had a copy of the delinquent bill I had just sent. XXXX connected me to the tax department, and confirmed to them that I had definitely sent the original tax bill on time, and spoken with the tax department earlier in XXXX. The tax department said they didn't pay the bill because it was a supplemental tax bill, and that I needed to call the tax department before they would pay it from my escrow account. I confirmed that I had spoken with them, and XXXX could confirm from her records and was able to verify that all the documentation had definitely been sent. The tax department said they would research internally and get back to me. However, the next day, they paid the tax bill - but also charged my account anyways for {$240.00}. They have not responded to any inquiries on refunding the excess charges to my account for the late payment that they made and have basically disappeared / are refusing to respond to my inquiries.
10/07/2020 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • NM
  • 880XX
Web Servicemember
Last month ( XXXX XXXX when I made my mortgage payment, for some reason the mortgage company ( The Money Source Inc. ) processed a double payment through my bank XXXX XXXX XXXX XXXX XXXX. My monthly mortgage is {$1300.00} and they processed a payment for {$2700.00} on XX/XX/XXXX. I immediately contacted XXXX XXXX and initiated a dispute as I only authorized a payment of {$1300.00}. I then contacted The Money Source and spoke to XXXX P about this error to let them know I filed a dispute with the bank and to find out what needs to be done to correct the issue. XXXX requested copies of my bank statement to prove the payment processed so they could initiate a refund for {$1300.00}. I sent the documents to XXXX and they processed a refund for {$1300.00}. They sent a check on XX/XX/XXXX which I received on XX/XX/XXXX. During this time, XXXX XXXX discovered that the charge was not authorized and they reversed the entire {$2700.00} back into my account. Additionally I received a letter from The Money Source stating that my mortgage payment was past due. I contacted XXXX about this and she stated that since the bank reversed the charges, they decided to reverse the payments for XXXX and XXXX, thereby making it appear that we were past due on those payments even though we made them on time. Today, XX/XX/XXXX, I was notified by XXXX that The Money Source added a negative remark to my credit report stating that we were delinquent more than 30 days. We have never been late on any mortgage payment and I have proof of that with my bank statements and The Money Sources monthly statements. XXXX admitted that we were never late and that the bank reversal is what triggered this problem in their system and the reporting to the credit bureaus that we were late, even though we were never late. I told her that I wanted them to correct the information on the credit reports and I wanted the late fees reversed since none of this was our fault, it was The Money Sources fault initially for charging me for twice the payment that I authorized. The refused to correct the credit report and refused to remove the late fees. I believe this is in violation of the Fair Credit Reporting Act of 1970 as they have reported falsely that I was late on mortgage payments even though I was never late on those payments. I believe this is fraudulent information and it has permanently harmed my credit report.
07/01/2020 Yes
  • Mortgage
  • FHA mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • TX
  • 78747
Web
This complaint is in regards to an on going problem this mortgage servicer has cause us a great deal of stress.The company name the The Money Source. We pay our mortgage payment every month. We never miss a payment. Me and my wife are current XXXX XXXX so one day we decided to break up our mortgage payment in two equal payment so we could always pay our payment before our grace period. We only wanted to pay it this way because sometimes we would have different bills to take care of so this would help us pay the mortgage more comfortably I didnt want a full paycheck to go all on the mortgage so we decided to just break up the mortgage payment one payment in the beginning of the month and the other payment in the second half of the month the payment always came in during that month never 30 days late. The whole problem started we called in To make a payment I regret doing this. The computer did a better job at keeping our mortgage payments accurate. So one day me and my wife called The Money Source to make a routine payment like we would just normally do this one representative applied the partial payment towards the principal instead of putting the pavement in the reserve account. So long story short we found out that this error had occurred months ago we found out the next year which was too late for us to adjust the payment so so our mortgage payment had the status of always being past due. I just happened to look at the mortgage statement months down the line me and my wife are both XXXX XXXX so we do not look at the mail that often we just set up automatic payments using our bill pay when we called in to make the payments on a monthly basis.When we discovered what was going on we contacted the money source spoke to many people from the money source one person was able to identify the mistake and at that time they trying to correct it but they said that it was too late the year had already closed and they could not adjust the principal balance.therefore long story short we are trying to get a refinance right now and this has come back to haunt us this payment that was incorrectly applied to our principal rather than a complete mortgage payment I need someone to help me as soon as possible im in the process of doing a refinance and if this is not fixed asap I will nit be able to lower my mortgage payment to a more affordable payment thank you.
12/26/2022 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • GA
  • 30180
Web
XX/XX/2022, I submitted my loan modification application to The Money Source via their web portal. On page 7 of the application there is a question, which ask the customer preferred contact method. I checked the box for email, since my cell phone was about to be disconnected. Later that night, I received a confirmation email at XXXX XXXX, which stated " Thank you for contacting Loss Mitigation, where our customers happiness is our top priority! Please accept this confirmation that your email has been received. We will work diligently to review and respond to your request within 1 business day. '' I had not received an email regarding the status of my application, in over a month. I assumed they were processing my request. XX/XX/2022, I received a letter from The Money Source dated XX/XX/2022 which stated they requested more documentation and that they had to receive it by XX/XX/2022 or my loss mitigation application would be closed and they would start foreclosure process/proceedings. XX/XX/2022 I called The Money Source customer service department and one of the agents advised me what was needed and that I had to date and sign my letter of explanation, and she stressed to me make sure you receive proof of confirmation which I did as stated in the email response I received that same day at XXXX. She also stated that I should hear something back from someone name XXXX XXXX the person working on my modification, I assume ) in 5 days. The following week I received numerous letters from The Money Source one of which was another application for Loss Mitigation. XX/XX/2022 I resubmitted my original application, letter of explanation ( I submitted to them on XX/XX/2022 ) and updated financial information to The Money Source via email ( I also included a statement in the body of my email ) in a series of 5 emails. XX/XX/2022, following up on my call to XXXX I checked my email and the document portal on The Money Source website. I did not see an email or any correspondence from XXXX advising me on the status of my loan modification. I am concerned with the lack of timely response from The Money Source. I have no confidence that they are acting in good faith to assist me in preventing my home from going into foreclosure. I have been diligent in my attempts to provide The Money Source with the reqeusted information they've ask of me.
06/07/2020 Yes
  • Mortgage
  • FHA mortgage
  • Problem with a credit reporting company's investigation into an existing problem
  • CA
  • 945XX
Web
Hi, I am writing to ask for your help with regards to my mortgage lender > The Money Source. In early XXXX, I contacted this company thru their website. I informed them that I am having a hard time making my mortgage payment due to the pandemic. I notified them that I lost about 30 % of my income. So, I asked them if they have a program that could help me lower my monthly payments. About a few days later, I had a call from one of their representatives and asked me if I am interested in discussing this matter with a person from XXXX. I agreed. That person from XXXX is very helpful and friendly. He tried to help us get a loan ( still under process ) to lower our payments. While this refinancing is in progress, I was under the impression that my mortgage is under forbearance ( something new to me ). Since money was tight, I was not able to pay my mortgage on time in the XXXX of XXXX. I had some money that arrived from the tax refund ( of which I was saving for the closing cost for the refinancing. ) Consequently, I was not able to pay my XXXX mortgage and The Money Source reported this as delinquent to the credit bureaus. My son and I co-signed for the purchase of our home. Therefore, our credit scores were badly affected by the report. Upon realizing that our credit reports dropped substantially, I called TMS and asked what happened, since I previously told them that I asked for their help with my mortgage payments due to my hardship as a result of the pandemic. TMS representative told me that my case didn't go under forbearance, unfortunately, so they reported my one month delinquent mortgage payment to the credit bureaus. My main concern is that my son who is XXXX years old, just started a new job with an Investment Banking company, is on the brink of losing his job because of a negative credit score ( thru no fault of his own ). To be able to get approved for our current refinancing will be a tremendous help to our finances. And I believe that to have our credit back to positive ( where it was before the delinquent payment report ) would help us get an approval for the refinancing we're doing now. Note : I immediately paid the one month payment due last XXXX on XX/XX/XXXX. Please help us resolve this problem. Thank you for your anticipated assistance. Sincerely, XXXX XXXX email> XXXX Cell phone # XXXX XXXX loan # XXXX
01/17/2023 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CO
  • 80304
Web
Re : Loan Number XXXX To whom it may concern or The Money Source Escrow Account Manager, On XX/XX/XXXX I found out that my homeowners insurance, XXXX XXXX XXXX, had been canceled on XX/XX/XXXX due to a non-payment but my account showed the proof that my insurance was still active. To confirm the coverage, I contacted your customer service on XX/XX/XXXX and spoke with XXXX and was told you did not receive any cancellation notice and that my coverage was still good until XX/XX/XXXX. Additionally I was told that 2 payments were made to XXXX XXXX on XX/XX/XXXX for {$2000.00} and XX/XX/XXXX for {$430.00}. Thus I was told no action needed to be taken at this time. XXXX also stated that she will follow up with my question by doing some research and get back to me, but I never received a call back so I put this information in writing and sent you an email on XX/XX/XXXX requesting an explanation as to why I was being told I had insurance when I didnt. Unfortunately, I never received a response regarding my question or a record of my insurance being canceled and now 8 months later, on XX/XX/XXXX, I am being penalized for a lapse in coverage which is causing my premium to double. To resolve the problem, I would appreciate an explanation of what happened to the payments made to XXXX XXXX and why you ( The Money Source ) never informed me of the cancellation. Why did it take this long or 8 months for you ( The Money Source ) to ask me to take action or to remedy the situation? Even when I called on XX/XX/XXXX, you stated that my insurance was still active with XXXX XXXX XXXX ( until XXXX XXXX, XXXX ) - so why did you provide me false information? I have lost trust in how you have handled my escrow account. This was your job to inform and communicate to me so that I could have done something about it. I could have gotten a new insurance so that there wouldn't be a lapse in coverage nor be penalized for it. Again, I'd appreciate an explanation and a refund of my premium for the lapse period, XX/XX/XXXX to XX/XX/XXXX and cancellation of the lender-placed insurance payment of {$2300.00}. Enclosed are copies of my records ( email and proof of your payment to XXXX XXXX ). I look forward to your reply and a resolution to my problem. Sincerely, XXXX XXXX
12/12/2019 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • CO
  • 81504
Web Older American, Servicemember
I fell behind for XXXX and XXXX of XXXX. I called as there web site was too convoluted to get the payments caught up. What I was told on the phone with the agent, was to put in the XXXX plus dollars and it would be divided and put into, XXXX and XXXX. What really happened was they took the XXXX plus and then tried to take another XXXX on top of the XXXX which i did not authorize and my bank account bounced the XXXX. I immediately went to the bank to find out why I had a overdraft charge. That is when the bank told me about the XXXX after they took the XXXX. The bank told me that they made an unauthorized draft. They credit me back the overdraft. I was then told to contact them by phone. I tried and the phone system would not get me to a person. I stopped all payments and took back the XXXX. I contacted XXXX XXXX to find my next steps. In the mean time, I made my normal XXXX payment of {$1000.00}. There web site did not show the XXXX for a week. XXXX XXXX told me to call and make arrangements for the XXXX. I got through to an agent finally and recorded our call. I and the agent agreed that I could add XXXX to my regular payment and it would be put towards the XXXX till it was satisfied. The Law Firm sent them a letter telling them they made an ilegal draft and need to credit me that. They did not and they have not responded back to XXXX XXXX. At the same time, they keep sending letters of the XXXX being owed and to call them. As we agreed on the phone, I sent to them a bank check for {$1500.00}. I put on there web site, cancel bank drafts. What I got in the mail was I now owe them, XXXX and they did not put the XXXX towards that dept. What they have done is try to take money out of my bank again, even though I cancelled and sent them a check. I have copies of there web site, recording of my call to them, and emails with letters all certified mail. I sent letters and I keep getting letters of dept owed, to call them and all without them honoring anything I have tried to do to remedy the situation. This started in XXXX, XXXX. I was told to file a complaint with you bye my attorney 's with XXXX XXXX and they still are waiting on a response to there initial letter to the Mortgage Company, I have followed my attornys leading in this situation.
12/29/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • OH
  • 43082
Web
I am deeply concerned about the internal accounting, controls and customer service provided by these two companies. I would advise anyone who will listen to stay away from these companies. XXXX - https XX/XX/XXXX The Money Source ( TMS ) - https : //themoneysource.com/ I refinanced my mortgage of roughly {$280000.00} with XX/XX/XXXX on XX/XX/XXXX. Servicing of the loan was transferred to The Money Source ( TMS ) which is XXXX 's internal loan servicer. I made two monthly payments ( with extra principal ) in addition to a few thousand dollars extra in principal payments to TMS. The loan was then transferred to XXXXXX/XX/XXXXloan servicing in XXXX. Due to what appears to be failed internal controls and accounting, TMS never transferred all of my loan payments to the new loan servicer. They failed to send over roughly {$8000.00} in payments. I have called them 5 times regularly since this time ( XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX XXXX to correct the issue and each time they have told me that either the issue will correct itself eventually or that an open task is pending with an internal department to address the issue. Once they recognized that the issue would not " correct itself '' they finally opened an internal task which was due to complete by XX/XX/XXXX ( roughly a month out from when I called. ) This date has come and gone without resolution or even a call back. I have been told on 4 of these calls that someone would call me back within 24-48 hours to provide an update. I have never received a call back. 1. If I had not tracked in detail the loan balance and payments made, it seems that TMS would have never discovered this issue, these funds would still be lost, and I would not have been aware of {$8000.00} simply vanishing. 2. I seem to not have any recourse to address this issue with TMS. I have given the company ample time to address the issue and nothing has been done. They continue to kick the can down the road. 3. I have no control over the loan servicer chosen for my mortgage. I am deeply concerned about the internal accounting and controls in-place at XXXX and The Money Source ( TMS ). How many other individuals have lost thousands of dollars in payments without even knowing it?
11/05/2021 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • NC
  • 287XX
Web
My name is XXXX XXXX, Attorney. My Law Firm is handling the short sale on the property XXXX XXXX XXXX XXXX with the loan servicer, The Money Source and have submitted all of the necessary paperwork as well as an Authorization on XX/XX/XXXX. We began what is usually a 60-90 day process on XX/XX/XXXX. We had to work through several workouts with judgment creditors, and we had value issues. However, we finally resolved all of these issues and met all requirements of the VA and The Money Source regarding the short sale on XX/XX/XXXX. The Money Source should have issued a Short Sale Approval immediately thereafter. However, on XX/XX/XXXX we were informed that before issuing a Short Sale Approval, The Money Source would need a " Potential Successor in Interest '' form. We explained that that was not needed in this case because XXXX XXXX XXXX ( the Husband ) is the sole owner of the property as his wife, XXXX XXXX XXXX, died on XX/XX/XXXX. Title to the property was held as Husband and Wife ( also known as Tenants by the Entirety ). Therefore, on XX/XX/XXXX, XXXX XXXX XXXX immediately became the sole owner of the property and there is no Successor in Interest and no need for such a form. We indicated that we would certainly review the document and have Mr. XXXX sign it, if it was appropriate. We have never received the document. Mr. XXXX has never received the document. Mr. XXXX 's daughter and POA, XXXX XXXX XXXX XXXX, has not received the document. The complete short sale package submitted on XX/XX/XXXX included the death certificate of XXXX XXXX XXXX. For the past 6 weeks, the parties to the transaction have been held up by The Money Source over an issue that does not exist. They have never sent the Possessor in Interest Form that they said they could only mail to the husband. They are now wanting instead to change the owner of the property to the Estate of XXXX XXXX XXXX. As explained above, that is incorrect and inappropriate. After many phone calls over the past 6 weeks, we are about to lose the transaction because The Money Source does not understand the basic issue of Tennants by the Entireties and is requiring something that is not just unnecessary but incorrect by the laws and statutes of North Carolina.
12/23/2018 Yes
  • Credit reporting, credit repair services, or other personal consumer reports
  • Credit reporting
  • Incorrect information on your report
  • Account status incorrect
  • FL
  • 338XX
Web
I was a victim of Hurricane Irma in XX/XX/XXXX. My mortgage was put into forbearance until XX/XX/XXXX. I had damage to my home and lost employment over the storm. Once my mortgage was taken out of forbearance in XX/XX/XXXX, I was reported late to the credit bureaus. I was also reported late during forbearance and was sent to dept collection agency during forbearance. I was told that I had to pay back all the past due in one lump sum or risk foreclosure on my home. I informed my mortgage servicer that I could not pay that and requested a loan modification. It took from XX/XX/XXXX- XX/XX/XXXX to get my loan mod complete, all in between I was reported late for 7 months on my credit reports. XXXX XXXX owns my mortgage and I opened up a claim with them. After some time, I was told by XXXX XXXX that the way this mortgage serve handled my account was incorrect. XXXX XXXX contacted my mortgage servicer and informed them that per XXXX XXXX guideline, I should not of been reported late during any of this and that the negative reporting was to be removed from my credit. This is not the case. I have filed disputes directly with the credit bureaus, and my mortgage services keeps sending over false/incorrect information when I dispute it. My family has suffered financial hardship over this, my credit is now trashed. I also suspect that this servicer has falsified their service records as now my account seems to show different information according to the customer service reps that service the account when I contact them. I can prove that incorrect information was sent over to the credit agencies, and I can also prove that this servicer has broken RESPA and XXXX XXXX guidelines. I am also aware of the on going lawsuit against this servicer which pertains to the unlawful practices ( RESPA/ Guideline Violations ) filed by former employees that were fired from the servicer around XX/XX/XXXX for whistle blowing. I find it very strange that this was around the time, XX/XX/XXXX when I starting having problems with them. I can prove that they have not followed guidelines with all the docs that I have. Please help, this is not right. Servicer Below The XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NY XXXX http : //www.themoneysource.com/
03/17/2022 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • IL
  • 60440
Web
My mortgage was transferred from The Money Source in XX/XX/XXXX. I was informed by the XXXX XXXX XXXX XXXX that my taxes not paid and sold. I went to the XXXX XXXX to find out what was going on since Ive always paid my taxes and insurance through escrow ; they shouldve been paid. I was informed that XXXX mortgage company paid the taxes late and XXXX XXXX sent the tax payment back to the XXXX mortgage company during this time I was transferred to XXXX XXXX. XXXX XXXX claimed to have paid the taxes that were never paid during the month of XX/XX/XXXX. XXXX mortgage claimed they also paid the taxes. XXXX XXXX claimed that my mortgage increased tremendously because they had to pay taxes that were never paid. XXXX XXXX received a balance for the taxes in XX/XX/XXXX. I was informed of this after they exclaimed my mortgage increased {$800.00} due to an increase in taxes and insurance. I spoke with several people in the tax department for XXXX and XXXX. XXXX then claimed that my escrow account was short due to delinquent taxes. Ive communicated with both companies and was told several different things since XX/XX/XXXX. XXXX XXXX says that they found some of the money missing in my mortgage account, decreased my mortgage from {$1700.00} to {$2600.00} in XX/XX/XXXX, to {$2300.00} XX/XX/XXXX, now to {$2100.00} XX/XX/XXXX. XXXX Mortgage company stated that they sent both my escrow balance of {$3700.00} to XXXX XXXX in XX/XX/XXXX and the unpaid tax check in XX/XX/XXXX. After XXXX XXXX admitted to receiving the tax refund, they exclaimed that they would be resolving the missing escrow check with XXXX. I later contacted XXXX XXXX myself, they stated that they would re-issue the escrow check to XXXX and that XXXX should have it no later than 7 10 days. XXXX XXXX later contacted me stating that XXXX is claiming I had a negative escrow balance which still makes my escrow account short. I have never not paid into my escrow account. XXXX and XXXX XXXX have not resolved nor located the missing {$3700.00} from my escrow account. Each time I call I am told something different. I am now paying an additional {$400.00} a month due to their lack of competence. They stole my escrow and is refusing to give it back.
12/10/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • MD
  • 20740
Web
Basically I submitted a previous complaint XXXX with CFPB in regards to The Money Source not properly transferring loan payments to XXXX XXXX. The Money Source never transferred funds or provided actual proof such as a wire # or check receipt etc. I reached out to XXXX XXXX on XX/XX/XXXX and they still haven't received any funds and are expecting a XX/XX/XXXX payment. I have reached out to XXXX XXXX who was listed below at a POC for TMS and she has not responded to my inquiry. Here is an outline of the previous complaint ... XX/XX/XXXX Consumer Financial Protection Bureau Online Portal Re : Case XXXX To Whom It May Concern : The Money Source ( NMLS # XXXX XXXX ( TMS ) is in receipt of the complaint filed by Mr. XXXX XXXX XXXX the Borrower ) with the Consumer Financial Protection Bureau. Mr. XXXX complaint states that TMS transferred his loan to mortgage servicer, XXXX XXXX, but did not forward his XXXX payment. Upon receipt of the complaint, TMS conducted a thorough review of the account and determined that the loan was originated with XX/XX/XXXX on XX/XX/XXXX, with a first payment date of XX/XX/XXXX. The loan transferred to TMS on XX/XX/XXXX. The Borrower made a regular monthly payment of {$1900.00} on XX/XX/XXXX and additional principal payments of {$1700.00} on XX/XX/XXXX and {$1300.00} on XX/XX/XXXX. The loan was scheduled to transfer to XXXX XXXX on XX/XX/XXXX, at the full principal balance of {$340000.00}. Rather than being placed in a suspense account, the XXXX payment and principal were applied to the loan in error, delaying the transfer process and posting of the funds. The funds will be transferred to XXXX XXXX by Friday, XX/XX/XXXX. TMS has advised XXXX XXXX of the date of receipt of all funds so that they can be correctly credited to the account. The issue has been escalated to management for review of the payment posting and transfer process and addressed through training to ensure this does not occur again. TMS sincerely apologizes for the delay and frustration caused by this error. If you have any questions or need further information regarding this complaint, please contact me at XXXX. Sincerely, XXXX XXXX Vice President, Regulatory Compliance.
06/30/2019 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • AL
  • 362XX
Web Servicemember
On or about XX/XX/2019, The Money Source ( TMS ) acquired service of the mortgage on my home. At that time there was an outstanding hail damage ( roofing ) repair to be made, first half of the insurance check to cover repairs had been released by my previous mortgage service provider XXXX. Due to weather and backlog, our roofer did not complete repairs until early XX/XX/2019, at which time my wife began to make attempts to have TMS to begin their procedures to close out this repair and pay the roofer his final check. Following two weeks of attempts, I had to once again give TMS permission to speak with my wife as now they state that I can not give verbal permission over the phone and must do so by mail ( given different stories on how to go about this by each person I spoke with ), anyway after giving what TMS said is last time of verbal permission, their representative told my wife that they do not have the funds from the insurance claim nor have any knowledge of this, as well she was told that we would have to figure out where the funds were. I specifically spoke with an agent from TMS in XXXX concerning this claim and my concerns about this going smoothly, I was assured that after a period of about 30 days funds would be ready for release following inspection of completed repairs. My wife and I have both spoken to an agent from XXXX who states that funds were wired to TMS, however XXXX has yet to provide proof, this has been going on since approximately XXXX XX/XX/2019. Repairs on my roof are very close to 30 days past, at which time the roofer may choose to submit a lien on my mortgage, which will affect my credit. Check amount is $ 4,600+. There is no record available to me anywhere indicating where these funds are, as if they just disappeared. I am beginning to suspect insurance fraud by means of asset diversion. I do not know or have proof of which company ( XXXX or TMS ) has these funds, I do know that my wife and I signed the insurance check and submitted it to XXXX upon recipt from our insurer. As our current mortgage service provider, TMS should be providing assistance with getting this matter settled and to prevent a lien being placed on this property.
10/20/2020 Yes
  • Mortgage
  • VA mortgage
  • Incorrect information on your report
  • NV
  • 89149
Web Older American, Servicemember
I received a letter dated XX/XX/2020 from '' XXXX XXXX '', informing me in this letter statement : " This letter is to inform you that we have received the request and will begin withdrawing the monthly mortgage starting on XX/XX/2020 ''. This amount was to be withdrawn from my banking account using my routing number and banking account number. But then I got another notice from " XXXX XXXX '' saying that " The Money Source '' ( TMS ) will begin excepting payment and managing my payments on XX/XX/2020. It turns out that TMS debited the mortgage payment out of my checking account on XX/XX/2020. It used my banking information that it had on file from the previous times of me making my mortgage payments to TMS, that were set to auto pay electronically to TMS, before I even applied for refinancing through XXXX XXXX, on around XX/XX/2020. So because I was under the understanding that ( TMS ) would be debiting the payment for the following month ( XX/XX/2020 ), because of the auto-pay setting that debited the XX/XX/2020 payment, it would make that next payment for me. But the payment was not made because TMS told me that the payment would not be automatically debited from my checking account that was, and still is, on file with TMS, to use to draft the payment. As consequence for this XX/XX/2020 payment not being made, TMS reported me to the reporting credit agencies to let them know that I failed to make the XX/XX/2020 payment. Again, I was under the impression the payment would be automatically paid. This has had a negative affected on my credit score, in such a way that is preventing me from receiving refinancing at an even lower interest rate. I am veteran, and this has been a little confusing for me. Being a veteran is how I got this mortgage in the first place, and I do not think that I should be held responsible for the some what confusing information that I got from both of these companies regarding how the payment will take place. I have always made all my mortgage payment on time with XXXX XXXX, as well as with TMS, before this latest incident happened. I hope that I can receive some fair help in dealing with this situation. Thank you. XXXX XXXX
03/12/2019 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • NJ
  • 074XX
Web
Our loan was previously serviced by XXXX XXXX XXXX. I was up to date and current with my mortgage. XXXX informed me in XX/XX/2018 that they will be transferring my loan as of XX/XX/18 to TMS ( The Money Source ). However, somehow TMS received my loan information in XX/XX/2018, and I have received delinquency notices saying that I have not paid my mortgage since XXXX. Since XXXX we have been in contact with both TMS and XXXX MANY, MANY times trying to get this issue resolved. At one point both companies had the same mortgage listed on our credit reports ( adding up to double the amount of our mortgage ), with XXXX showing as current, and TMS showing incorrectly as delinquent. After XX/XX/18 XXXX updated their information on our credit reports to show as closed and current. TMS is still showing on my credit report incorrectly as delinquent since XXXX. I was assured by TMS that the issue would be resolved by XXXX. It is the beginning of XXXX and still not resolved. TMS is now saying they can not help me because their records show I owe them the money. I have even provided them with our bank statements showing the mortgage payments to XXXX up to XX/XX/2018, along with the letter from XXXX confirming that the mortgage was only to be transferred to TMS as of XX/XX/18. The XXXX number I always called is now disconnected. It seems that the location is XXXX, NJ is no longer open ( I searched for XXXX corporate number and I left a message ( they do not give you the option to speak to a live person ). I have not received a call back. Now because of the mix-up between these 2 mortgage companies and through no fault of our own, this is causing us additional financial distress, as we have a leased car which needs to be switched over to a purchase/finance, and they will not approve us due to my credit report incorrectly showing we are 6 months behind on our mortgage. They have extended our lease for another month, and if this issue is not resolved before then, we face repossession of the vehicle, which will cause more unnecessary distress and damage to our credit! We should not be penalized and suffer the consequences of the errors between these two companies.
08/18/2022 Yes
  • Mortgage
  • VA mortgage
  • Struggling to pay mortgage
  • TN
  • 37830
Web Servicemember
This is a complaint about the actions of XXXX in their response to our last complaint. 1. the rules state that a lender MUST PROMPTLY RESPOND to a notice of successor in interest. 2. We sent a certified letter by mail, fax and email over a month ago giving notice. 3. XXXX has NEVER responded to such a notice which included my deed as a settlement for domestic debt, to inform Me it was received, as requested, or that they wanted more information OR TO DENY XXXX status. 4. This clearly proves gross bad faith since the date for sale was XX/XX/XXXX and they did not respond to stop the sale, ask for more information or to agree with SI status. 5. The purpose of the new rule from 2018 clearly states it was to offer time to a potential SI to get a modification and to stop foreclosure. 6. The fact that XXXX admits it thoroughly investigated the XXXX claim and denied it WHILE IGNORING NOTIFYING ME AS THE XXXX to DELAY SO THE HOME IS SOLD PROVES they are deliberately delaying any response to let home sell and take the home which the rule is specifically meant to prevent. 7. The egregious and willful and wanton violating of the rules to take a home is both disgusting and actionable. 8. I M also demanding they only contact me and my attorney not any other person as I am the SOLE owner and no one else has rights to the home. 9. The violations are too numerous to list here but I demand immediate assistance by CFPB and that they order XXXX to immediately remove property from sale AGAIN and honor the co yea t we signed- they probably yes my name as an ow we on their offer- and be ordered not go put on sale again as it is a harassing tactic d well as an illegal one. 10. They also engaged in dual tracking for last three years putting home on sale date 9 times while acting like they were working with us. This is also illegal. ASSISTANCE IS REQUIRED TO STOP FURTHER FINANCIAL EMOTIONAL IRREVOCABLE HARM BY THESE CRIMINals. I anticipate they will again not respond as yet we have no responses about SI or modification application from months ago yet they can answer you. ASSISTANCE URGENTLY NEEDED TO STOP THESE ONGOING VIOLATIONS
03/09/2022 No
  • Mortgage
  • Conventional home mortgage
  • Closing on a mortgage
  • CA
  • 94565
Web
I am working with XXXX XXXX XXXX on refinancing my current home. Our current servicer, The Money Source ( TMS ) has been giving me so much grief about obtaining the correct payoff quote. We requested the payoff letter ( attached ) on XXXX and to this day have not received a payoff letter with the correct numbers. We were hoping to close last week but because they have given me the runaround, all my other creditor payoff quotes have become or soon will expire. I have been assessed late fees from my credit card companies, and surely will be reported as having late payments to the major credit reporting bureaus. Not only this- the reason TMS is refusing to update the payoff letter is because they are claiming I owe them roughly $ XXXX for a partial claim that HUD has ( and has paid off ) on my home. In XXXX I applied for a forbearance on my mortgage loan because I lost my job due to the COVID pandemic. In XXXX, I started working again and began making payments. The amount that I did not pay during the forbearance period went into a partial claim with HUD or XXXX. I signed the documents and have notarized copies ( attached ) of the promissory note and deed with states this. However, TMS will states that I owe them for the partial claim. The title company that I'm working with received a payoff letter from HUD/XXXX which states I owe them for the partial claim. I just want to refinance and finally be done with TMS - they are the worst company in the history of companies. They never call me back when I ask. And I've asked them since XX/XX/XXXX to take care of this partial claim issue. They've told me that it was taken care of and I believed them, only to be fooled. I was in the phone yesterday for 2 hours trying to resolve this issue. A supervisor did not want to come to the phone. First they said all supervisors were helping other customers and towards the end of my call, I asked for a supervisor again and the rep told me all supervisors were in a meeting but she promised to request a call back from a supervisor. This is what they say each and every time I call but I NEVER receive a call back. I have to be the one to call.
01/06/2017 Yes
  • Mortgage
  • FHA mortgage
  • Application, originator, mortgage broker
  • NJ
  • 08701
Web
In XXXX XX/XX/XXXX I received a phone call from XXXX XXXX, Mortgage Loan Originator for the Money Source, who currently hold my mortgage. The call was to advise me that I qualified for a reduced rate on my mortgage and that I could refinance. The rate offered was XXXX. I currently have a rate of XXXX and that the closing would take place before XXXX. I followed all the necessary steps that was required. No closing date set. This went on for almost two months. I received an email from XXXX XXXX was to advise me that I would refinance for a 26 year mortgage instead of a 27 year mortgage, which I had no problems doing. The last notification from XXXX was on XXXX XXXX, advising that the loan would be done in XXXX as they could not close before XXXX which was the planned date. I was NEVER told that the rate would expire. He advise that right after the holiday we would be able to close. As of today, XXXX XXXX, I had not heard back from XXXX I sent an email to his account. I received a phone call from a XXXX XXXX of the Money source who advise me that XXXX was now in a leave of absence and that the rate lock had expired on XXXX/XXXXXXXX That a rate extension had been submitted but it had been DENIED. Please note the following : I was never notified that the rate had not been extended as XXXX XXXX did not advise me of that face. Secondly, No one at the Money Source had the professional courtesy of calling, writing, emailing or even texting me of the above set forth. I am of the opinion that the money source has acted in bad faith. They have taken advantage of the fact that the interest rates were going to go up and dragged this refinance account through the beginning of XXXX to then advise that it was denied, when through the months of XXXX until XXXX it was available. XXXX XXXX also felt the need to advise me that if I were his client, he would have made sure that I knew in advance of what was happening. Furthermore, that I was not the only XXXX left in this predicament. I continue to have my mortgage with them and am in good standing with them but they have certainly left a very bad taste.
06/24/2021 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • CA
  • 94501
Web Servicemember
I refinanced our mortgage through the Money Source ( Loan # XXXX ) in XXXX of last year. Just after closing I received a notice from the county tax assessor ( XXXX, CA ) that our property taxes were overdue. I contacted The Money Source and they paid the taxes but did not make an adjustment to my escrow account. It seems they did not anticipate making that payment which should have been part of closing. A year later they are telling me that I'm short {$6300.00} in my escrow account. They have never once notified me about the issue. The only notice I received from them ( XX/XX/2021 ), was an email that stated an escrow audit had been conducted on my account and that " I may have a refund ''. I did not. ( See Attachments ) I have called the Money Source several times to get to the bottom of the issue to find out what they intended to do about it and what caused this issue but they don't seem to have any answers that pass the straight face test. They keep focusing in on my XXXX veteran 's deduction which would leave me a surplus or a refund if they were overpaying. I called and confirmed with the county assessor that there were no overpayments on my account. The Money Source to this point seems unable or unwilling to tell me what's going on. They have not even apologized! They are just going to start charging me an extra {$600.00} per month for a year to make up for it. In what world is this okay? I'm a XXXX vet with a VA loan. This shouldn't be happening period. This issue should have been handled in the closing of my loan and is now essentially an undisclosed closing cost charged a year after the fact. The additional concern is that these folks don't seem to know what they are doing. Also, I receive relentless sales calls from this company trying to get me to refinance again. I have asked them several times to stop and have blocked several numbers. This proves they have my phone number but can only seem to use it when they want to up sale me but not when there is something I may need to know like a {$600.00} per month increase to my mortgage. Please Help! Sincerely, XXXX XXXX
07/16/2019 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • PA
  • 15216
Web
I mailed a check on XX/XX/XXXX for a total of {$50000.00}, which included my monthly mortgage payment of {$1800.00} and an extra payment of {$48000.00}, which is the proceeds of the sale of my former home. This check was deposited by The Money Source ( TMS ) on XX/XX/XXXX ( see attachment ) and then backed out of my account on XX/XX/XXXX, when my account was transferred to my new loan servicer, XXXX. I was not informed that my payment would be backed out of my account, the payment has not been transferred to my new account at XXXX, and I no one has been able to tell me when ( or even if ) the money will be either transferred to my new loan servicer or sent back to me. Below is a timeline of events with evidence attached to this complaint as available. XX/XX/XXXX - Check deposited by TMS ( cancelled check attached ) XX/XX/XXXX - funds backed out of my account ( account activity attached ) XXXX - I called TMS customer service and asked for an explanation and update as to when the money would be sent to XXXX. I was promised a phone call by XXXX XXXX - I called for an update since first representative never got back to me, was promised a phone call by XXXX XX/XX/XXXX - I called again for an update as XXXX rep never got back to me, was promised a phone call XX/XX/XXXX XX/XX/XXXX - I called again for an update, as XX/XX/XXXX rep never got back to me, was not able to get one, spoke briefly with XXXX -- Supervisor. He has promised me a phone call ( with or without update ) on XX/XX/XXXX XX/XX/XXXX - I emailed XXXX XXXX - VP of Customer Experience - with full explanation. On XX/XX/XXXX She says she will hopefully get back to me by XX/XX/XXXX. ( email exchange attached ) XX/XX/XXXX - Called a rep ( from XX/XX/XXXX call ) who had given me their extension. No answer and no call back, I left a messages requesting a call back with or without an update. XXXX - Supervisor - who promised to call me today did not call. At this point, TMS is costing me money by holding the payment, both from PMI that could be removed from my loan and in interest earned on the balance on my loan.
06/04/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • AZ
  • 856XX
Web
THE MONEY SOURCE MORTGAGE The money source.com ( XXXX ) XXXX XXXX Loan # XXXX A double payment made on my loan on XX/XX/XXXX through de TMS App and Automated phonesystem. I logged in into the App selected the info that is needed to make a payment. When I submitted the payment it didn't confirm me that a payment was made. A message box appeared and said it could not fetch my loan information. That made me think that it was not processed. I tried to login again and the same message came back not even letting me in as it did before. What I did was to dial the automated phone option and make a payment in that way. The payment did go throughand got a confirmation for the amount of {$740.00}. What I think is that it should have an option to let you know that a previous payment its pending o waiting to be processed. The app does that. Why not the automated phone system? They asked me to send a XXXX XXXX statement where it reflects the withdrawals. The latest PDF statement on my XXXX XXXX account reflects up to the month of XXXX. The bank does not provide direct emails to any company with that information. That was what TMS requested. All I wanted to do is to cancel the last payment that is reflecting today in my account as pending. I did not reflect on my account history until XX/XX/XXXX. All I want is to leave the one charge for the month of XXXX that it did go through on the TMS app. I don't understand is why do I have to do all of this loop jumping when is so simple to cancel, stop, reverse a payment that the system glitch at the moment. This can't wait and need to be resolved immediately. The funds are not available and overdraft fees are being charged. I did call on time and they denied me to reverse that second payment not authorized that was a mistake or glitch of the App portal. Still if submitt the info that they need I still have to wait 2 weeks for my money back!!! In the copy that the bank gave me you can see the double charge and one pending and still did not put a stop, cancel or reverse of funds. Thank you. XXXX XXXX XXXX
03/30/2022 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • IN
  • 46311
Web
In XX/XX/XXXX I had The Money Source take fund from my escrow account. Which then raised my mortgage payment. They tried telling me I have tax liens on my home. Which i did not. The closing company made an error. They never adjusted my mortgage payment. I have paid my mortgage on time since. I live pay check to pay check mind you. One income household. XX/XX/XXXX I paid my mortgage three days later XXXX returned XXXX and XXXX payments. I called my bank to clear this up. They stated that this is on the mortgage companies end. I called XXXX Monday they told me everything is fine and processed through to call back tomorrow just to double check. I called Tuesday another lady said the exact same thing. I said mark my account because this will be on you guys then. Sure enough I owe for XXXX and XXXX now. I used the money to pay off other bills I have. I am trying to catch up. One of their managers told me that my bank did it because they didnt recognize XXXX XXXX Which is bull since I have been using the same account for 2 years. I paid XXXX back. I cant afford XXXX now. She told me they can add it for three months. Making my payment XXXX. Which is more then my pay check. I can't afford that. I had to fill out hardship paperwork etc. Now they're going to report to the credit bureau negative remarks. Which is not fair since I didnt mess this up. Instead of XXXX owning they XXXX multiple times they blame me the customer. I don't want to hear I am sorry and hope your day is great. I want this fixed. I should not have a negative impact on this. Nor should I really owe this money. Noone I have ever talked to has heard of this happening who all own homes. It took me five years to get a home alone after I was cheated on and left with nothing. none of this really matters, but trying to survive in life is nearly impossible. I am in XXXX and need help with this. Really sad companies can do this. worst company I have ever worked with. I have also read multiple complaints from customers with issues with them. They need to be shut down.
08/04/2016 Yes
  • Mortgage
  • VA mortgage
  • Application, originator, mortgage broker
  • FL
  • 32246
Web
In XXXX or XXXX 2016, The Money Source, my mortgage company called me and said they were doing me a service to lower the interest rate on my mortgage at no cost, because I was a good customer. We started the mortgage refinance process in XXXX or XXXX, something I expected would be very quick since I already had my mortgage with them. But the process dragged out with me having to submit information over because they did n't get it, getting new requests from people I did n't know ( even a new request to lower my interest rate from some other person at The Money Source ), and slow responses from my loan officer. He said it would take about 30 days ; it took 90 day or more. I went through a lengthy process to electronically sign all the closing documents ; and then a closer came to my house and I had to sign all the documents over again. A week after the closing, I was requested to sign more documents. I was assured by the loan officer that this was not unusual. The loan officer told me I could skip a month on the mortgage payment and the payment would be made through the settlement process. But then while I was on vacation, I got two notices from The Money Source saying that I was behind on my mortgage. I sent these statements to the loan officer on XXXX XXXX asking for explanation and have not gotten a response. On XXXX XXXX I got an escrow statement from the closed loan account ( attached ). It showed no refund to me. I have done several refinances and always the escrow from the old loan is refunded to me. I called customer service and they informed me that the escrow was used to pay principle on the loan. They also said that could not happen without my permission. At no time during the refinance was it stated that my escrow account would be used to pay principal, and I gave no such permission to do so. I complained to the loan officer, and he stated that " the process requires the monies be posted to your principle balance ... ''. I 've never heard of this process. I had anticipated receiving the escrow refund.
04/26/2020 Yes
  • Mortgage
  • VA mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • NC
  • 27804
Web Older American, Servicemember
Consumer Financial Protection Bureau XXXX XXXX XXXX XXXX, IA XXXX XX/XX/2020 Re : The Money Source Legal Amoral Refinancing by Animalistic Criminals XXXX XXXX XXXX XXXX, NY XXXX Dear Madam/Sir, As a former homeless, but XXXX % XXXX Veteran ( homeless for 38 years ), and an unreported survivor of the XXXX XXXX, I never thought that the mortgage finance company that we were appointed ( rate 4.125 % ) would conduct business in such a animalistic and pernicious manner -- -making my paranoia speak vociferously within me ; shouting that the very same people I must trust with my mortgage concerns are simultaneously setting up their systemic discriminating snares to overcharge us and/or try to make me homeless again. First, in the early portion of XX/XX/2020, my wife and I called The Money Source and paid our monthly mortgage payment in advance, because we needed to change our bank ( from XXXX to XXXX XXXX XXXX ). However, the inadequate business practices of The Money Source neglected to fulfill their responsibilities, which resulted in complications for us with our banking institution. Secondly, all the information communicated from The Money Source to us, during this pandemic have been continuously misleading, malicious and in a mendacious manner. Thirdly, after addressing The Money Source, with the CARES ACT, we were disregarded, disrespected and rejected, as well as them forcing their created documentation and fees on us. Nevertheless, we were told we did not have to pay mortgage until XX/XX/2020 by one of their phone receptionist, posted various balances on the website they have for us ( quite confusing ), no record of recorded phone calls, and poor representation in the likes of a XXXX ( so-called manager ), XXXX, and other members of their staff. The Money Sources insidious machinations of systemic discriminating have affected our budgeted fixed income, unwarranted stress, as well as, and especially placing obstaclespreventing us from the VA Interest Rate Reduction Refinance Loan. Please help...
01/30/2022 Yes
  • Mortgage
  • VA mortgage
  • Applying for a mortgage or refinancing an existing mortgage
  • TX
  • 79928
Web Servicemember
Took a 7 month COVID forbearance with our previous company XXXX XXXX XXXX XXXX When we were ready we contacted the company to resolve the forbearance and were told we qualified for a veteran extension modification. XXXX XXXX started the process and sold our loan to The Money Source. The Money Source required us to undergo a 3 month payment trial period where we were to make payments on the first of every month for 3 months or risk rejection of the extension. After honoring our obligations The Money Source has continuously sent us misinformation. Including documents claiming we owed a lower mortgage than we actually did. Their reasoning was that letters arriving by mail are issued by an automated system and we were told we need to disregard mail and call in for information regularly. They have also promised through phone calls that our resolution is almost coming but they are pending a copy of our homes Title from XXXX XXXX XXXX XXXX They have caused us fear telling us that we must continue making trial payments on the first of every month until they finish obtaining the document from XXXX XXXX XXXX XXXX I spent hours and multiple calls on the phone with them this month where we were promised that the resolution was schedule XX/XX/XXXX for our new payment and for documents to be sent our way. How we XX/XX/XXXX we were sent another letter saying theyve delayed again due to not receiving the Title from XXXX XXXX XXXX XXXX I have emailed them the Title which they rejected. It feels they are purposely drawing out the process as well as sending mixed information to confuse us and cause us to miss a payment on the XXXX of the month in order to take our home and reject the resolution. We have now been in the resolution process longer than the actual forebearance. This process only allows me to make phone calls for payment as well and will not allow me online services which means they add more difficulty by making us have to set aside an hour for hold times and phone calls to process our payments.
07/18/2018 Yes
  • Mortgage
  • VA mortgage
  • Closing on a mortgage
  • MA
  • 01886
Web Servicemember
On XX/XX/2018 I sent an email at the advice of The Money Source 's customer service to request another veteran who was purchasing my home to assume my mortgage. I got no response for over two weeks. I called the company numerous times over the course of the two weeks to no avail. During this time, the buyers conducted an inspection of our home and while waiting to see if the loan can be assumed, we had to make financial decisions based on the unknown. We agreed to fixes being done on the property which we would not have agreed to if the loan was in fact assumed. Our closing was scheduled for XX/XX/XXXX. The XXXX XXXX provided documentation that needed to be signed for the assumption. This documentation relieved the us the sellers of any financial responsibility of the loan. The selling transaction took over two days to go on record because The Money Source did not send the proper paperwork to the closing. This forced us ( sellers ) to pay two additional days of expenses. Nowhere in the documentation we signed did anything say we forfeited our rights to our money in escrow. After 30 day, a phone call was made to The Money Source requesting the money in escrow. I was told that I relinquished the rights to that money ( over {$1200.00} ). After speaking with my attorney, many hours were spent dealing with the money in escrow. This is time an attorney had to use to rectify an escrow check which is protected by RESPA. Finally 43 days after the closing, the money was received. 45 days after close I received a call from The Money Source saying my account is behind! I do not own this mortgage, but my information is still associated with the loan. In an email from The Money Source to the buyers of the property, it stated a payment was not due for 30 day, yet this is the second month the mortgage company is requesting payment ( XX/XX/XXXX, XX/XX/XXXX). XX/XX/XXXX payment should not have been due. This loan was assumed. Time and money has been sacrificed at the hands of The Money Source
09/09/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • GA
  • 30114
Web
My original loan was with XXXX XXXX. I was very happy with them for years. They sold my mortgage to The Money Source in XX/XX/XXXX. I received letters telling me to create an online account, which I did. I was told my XXXX payment was to be sent to the new servicer. I sent my new payment via online bank with the new loan number. It was accepted and I did not seem to have a problem. I sent my second payment on XX/XX/XXXX via online banking for my payment due XX/XX/XXXX. On XX/XX/XXXX I was informed by my bank that the payment was returned from The Monday Source ( TMS. ) I called TMS and after XXXX phone calls with individuals that just kept telling me to " call back tomorrow. ''????, I finally got a hold of someone who explained that my mortgage was not yet set up and that's why the payment was returned. This made NO sense to me, as they had accepted my XXXX payment! She said to try again the next day because she had sent a notice in to have the correct department get it set up for payments. XX/XX/XXXX, I re-send my payment from my bank to TMS. I checked my online TMS account daily to watch for the payment to hit. I have NEVER been late on a mortgage payment and am not happy this was showing as late. XX/XX/XXXX I receive an email from TMS that my payment is late!!! I was livid. I called and spoke to a woman who said I never sent a payment that got returned. I have PROOF from my bank that it was sent and returned. She them told me once again that my account was not set up and that my payment was probably in the process of being returned and that's why it was not showing up. I asked to speak to a supervisor and was out on hold, after a time I was told supervisor would call me back after he got off current call. It has now been 3 hours - no call from anyone at TMS. This is RIDICULOUS - I just want to pay my mortgage!!! If my late payment is reported to any credit institution, I have documentation and will bring a lawsuit.
06/10/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • TN
  • 37209
Web
On XX/XX/XXXX I made a {XXXX principal payment to The Money Source, Inc ( TMS, loan service provider for conforming mortgage from XXXX XXXX to pay down my mortgage principal to less than 80 % of the original valuation at loan closing ( XX/XX/XXXX XXXX. I have made all of my payments on time. Recent refi appraisal is valid for 120 days from XX/XX/XXXX, so I do not think the property has declined in value. On XX/XX/XXXX, I mailed a letter requesting PMI be cancelled via XXXX. On XX/XX/XXXX, I called to request that PMI be removed. When I spoke with their representative, they agreed that the principal had been paid down below 80 %. However, they said that I needed 2 years of payment history to cancel PMI. For this reason, they did not approve my request. I expressed my concerns to them on the phone and also by email to the address they provided XXXX XX/XX/XXXX XXXX. From reviewing your website and calling your call center, I believe I am only required to not have late payments in the past two years ( I have made all payments ). It my understanding they must honor this request and not require a " seasoning period '' as they are requesting. Per your website ( https : //www.consumerfinance.gov/ask-cfpb/when-can-i-remove-private-mortgage-insurance-pmi-from-my-loan-en-202/ ), " Other things to keep in mind about the Homeowners Protection Act Loan investors, including XXXX XXXX and XXXX XXXX XXXX often create their own PMI cancellation guidelines that may include PMI cancellation provisions beyond what the HPA provides. But these guidelines can not restrict the rights that the HPA provides to borrowers. For example, the HPA does not contain any requirements for a loans tenure before a borrower may request cancellation or be eligible for automatic PMI termination ( known as a seasoning requirement ). '' Assuming you agree, I am asking the CFPB to direct TMS to cancel my PMI. Thank you for your attention to this matter.
04/25/2019 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • NE
  • 685XX
Web
On XX/XX/XXXX, records from The Money Source , Inc. ( TMS Inc. ) show they issued a disbursement from our escrow account for {$1000.00} to XXXX County for XXXX property taxes. However, according to the XXXX County Treasurer records, this disbursement was never applied to our parcel. In XXXX of XXXX, we were made aware that our taxes had not been paid. So we paid {$1300.00} ( {$1200.00} Original Amt + {$110.00} Interest/Fees ) directly to the county from our personal account on XX/XX/XXXX to bring the property in good standing. On XX/XX/XXXX, records from TMS Inc. show they issued a disbursement from our escrow account for {$1500.00} to XXXX County for property taxes. This record is in agreement with the XXXX County Treasurer records, and shows it was correctly applied to our parcel correctly. On XX/XX/XXXX, I called and spoke with a representative from TMS Inc. notifying them of the discrepency in the disbursement they claim they made on XX/XX/XXXX to my parcel from our escrow account. I informed them that the XX/XX/XXXX disbursement for {$1000.00} was not showing on my parcel and that I would like to know what happened to those funds from our escrow. They took my information and concerns down and told me to call them back on XX/XX/XXXX to get an update regarding the matter after they had completed an investigation. Middle of XXXX : Receive Escrow statement from TMS Inc. stating our escrow account has a shortage. On XX/XX/XXXX, I called TMS Inc. to get an update on the matter, and was told that the XX/XX/XXXX disbursement for {$1000.00} was actually applied to an unrelated parcel that has a very similar address to my parcel. They informed me that they would contact XXXX county in an attempt to get the funds back. During this call, I was informed the process could take up to 6 months, and had no guarantees of successfully refunding the incorrectly applied funds back into our escrow account.
08/19/2022 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • CA
  • 91910
Web Servicemember
We, XXXX XXXX XXXX and my husband, XXXX XXXX XXXX XXXX want to complain about our mortgage company , The Money Source, using predatory collection. This is our situation : We just finished paying a {$41000.00} XXXX XXXX bankruptcy plan. During the plan, we fall behind with our mortgage payments. Our mortgage company , The Money Source took our case to court, and the court order that we pay a total of {$13000.00} in arrears. We paid that amount in three installments : {$1100.00} in XX/XX/2020, {$1100.00} in XX/XX/2020. The balance we paid with two checks totaling {$11000.00} on XX/XX/2020. After that, the monthly statements we received from The Money Source were very confusing. They always displayed a ( big ) balance still due. I made all the payments by phone, and I would ask the operator how much we really owed, if we still were behind in payments, which we were sure we were not. I was told every time that we were fine. Then we started getting letters saying we were behind and that we were going to get foreclosed. I called their collections department on XX/XX/XXXX, to get clarification. I spoke with a collections - our account is in collections! - representative who explained to me that we owed one month, plus {$920.00} fees in " corporate advances '' incurred for several visits to our home by investigators to make sure we were still living here (!!! ). I explained to her that we, my husband and I, believed we were not behind, because we have been paying faithfully after we paid off the amount in arrears. She said we were behind one monthly payment ( {$2300.00} ) plus the {$920.00} " corporate advances '' fees. Both me and my husband are very upset for getting this warning of foreclosure letters. We paid the amount in arrears, besides having to pay the IRS $ XXXX in back taxes. And this The Money Source company is not helping by sending us predatory letters, using the " foreclosure '' language.
11/13/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • NC
  • 273XX
Web
Shortly after closing my purchase in XX/XX/2020 I received a notice that the mortgage was sold to TMS. I received a request in XX/XX/2020 to provide an updated copy of my home owners insurance policy to TMS. Their system incorrectly showed my insurance policy expiring in XXXX. The letter indicated if I did not provide a copy they would secure their own policy after 30 days. They indicated the policy would most likely be at a higher cost than if I provided insurance. After providing a duplicate copy of the current insurance policy they followed up with a 2nd letter indicating my policy did not clearly identify the replacement cost coverage of the policy. The letter asked that I " please ask your insurance agent to provide us with the replacement cost calculations for your home ''. The letter did not indicate if this was a requirement or what would happen if I did not provide that information. It had been 2 weeks since the original letter so for all I knew they needed this information or they would procure insurance and charge me. After a quick conversation with my insurance company it is very apparent that TMS should know that the XXXX would not be provided. Fearing the worst -- that this is a requirement I can't meet, and therefore TMS would be purchasing insurance on my behalf, I called TMS. After explaining the situation TMS told me that providing the XXXX was not a requirement and that they were just highlighting the fact that my insurance policy replacement cost is less than my current mortgage balance. They indicated I am no longer in jeopardy of having TMS procure insurance. It would appear that TMS is trying to use me to get information they don't have access to in order to shore up their liability balance sheet. At best their kind intentions are horribly worded. At worst they're using a letter that threatens me with higher cost insurance and coaxes me into providing proprietary information.
08/03/2019 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • MI
  • 492XX
Web Older American, Servicemember
We sold our home in the XXXX. Michigan and purchased a new home and property in XXXX Michigan in XX/XX/XXXX. We had a VA 30 year fixed loan and the payment was XXXX. Our loan was sold to a new mortgage company , The Money Source, in XX/XX/XXXX. We received a letter explaining that our loan had been sold and where to send the payment with no other information provided. We then received our " first '' mortgage bill at the end of XXXX due XX/XX/XXXX and the amount was {$500.00} dollars more than our original mortgage payment. At the same time, we received a " new '' mortgage insurance amount that had doubled within a few months. In addition, we received our " new '' property taxes and they had also doubled. When everything was said and done within one month our payments increased {$800.00}. When we contacted the mortgage company they stated to us the changes were in relationship to our " home '' not being our " principle property. '' We told them it was indeed our principle/primary property and our " only '' property they told us when they purchased our loan the information indicated it was our " secondary '' property. The mortgage was done as a primary residence at the time of closing. We have lived in this property as our primary since closing. We have no other property. The new mortgage company , The Money Source, took it upon themselves, at the time of servicing transfer, to change my property from primary to secondary, contacting my homeowner 's insurance and property taxes without ever reaching out to me for clarification. Due to this clerical error, my payments have been made unaffordable, putting my husband and I into significant stress and despair. Furthermore, the mortgage company refuses to expedite any changes as this has been ongoing for months. I am running out of money and options and I sincerely need help to prevent me from losing my home due to the actions of the mortgage company.
10/01/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • TX
  • 77407
Web Older American
XXXX : First complaint filed with CFPB Complaint Number XXXX ID FOR COMPLAINT SENT TO THE MONEY SOURCE INC . XXXX On XX/XX/XXXX, I refinanced my loan with XXXX with monthly payment as follows : Principal : {$340.00} Interest : {$410.00} Total : {$760.00} Paid {$800.00}. {$36.00} towards principal I was informed that The Money Source Inc. ( TMS ) would be the servicing company. The Money Source Inc. ( TMS ) XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, CT XXXX Tel : XXXX Email : XXXX And XXXX gave me two loan numbers as follows : Second TMS Loan No. : XXXX XXXX XXXX First/Original TMS Loan No. XXXX XXXX XXXX XXXX Account No : XXXX XXXX XXXX ( new servicing company ) TMS informed me that my first mortgage payment would start from XX/XX/XXXX. Since I could not set up an online payment ( due to technical problem of TMS website ), I sent a check for {$800.00} to TMS which received it. TMS was supposed to transfer this amount ( {$800.00} ) to XXXX ( new servicing company ). I called TMS a total of three times. At all those occasions, I was told that the {$800.00} which I remitted to it would be transferred to MrCooper.com, but it did not. On XX/XX/XXXX, XXXX XXXX of TMS called me back and said that {$800.00} was wire-transferred to XXXX on XX/XX/XXXX. Ref. No : XXXX XXXX XXXX XXXX XXXX XXXX. I spoke with the Customer Service of XXXX which said that it did not receive {$800.00} from TMS. I filed a complaint with CFPB, and TMS responded that it remitted {$800.00} to XXXX On XX/XX/XXXX, I called XXXX, my current mortgage servicing company and spoke with one XXXX XXXX. She said that on XX/XX/XXXX, XXXX wire transferred {$800.00} to XXXX, but on XX/XX/XXXX, the money was returned due to insufficient fund. Please see the attached statement by XXXX, showing the return of {$800.00} to TMS due to insufficient funds. I would appreciate very much if you could ask TMS to refund me {$800.00}.
09/14/2020 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • FL
  • 33707
Web
Due to the Covid outbreak I could not pay my lender, The Money Source ( loan # XXXX ) my XXXX payment of {$950.00}. I called them on several occasions only to incur very long wait periods. When I couldn't get through via the phone, I took to e-mailing them. They said that they would reply back within 48 hours, but never did. I was fortunate enough to have been able to sell my property. The closing date was on XXXX XXXX, 2020. I paid The Money Source {$120000.00}. they were paid in full. I have never missed a payment in the 3 years that I have had this loan. At closing I noticed that the pay off was far different from my XXXX Statement. Not only did they report me to the credit bureau for missing XXXX 's payment, but they charged me {$2100.00} more because I missed 1 payment. I'm sure that they are entitled to the XXXX payment and a late fee, but they have charged me {$1200.00} worth of interest. I thought at the time of closing that they were also charging me XXXX 's payment even though I e-mailed them and told them that they would be paid in full on the tenth. Today XXXX XXXX I called the Money Source and explained my dilemma. Their reply was that the additional {$1200.00} was an interest payment. I'm sorry, but I've been making my mortgage payments, while struggling through Covid. I had to sell my house because I could not afford to live in it anymore and they go and ding my credit and charge me an outrageous amount, all because I missed my last month 's payment. The fact that they went to the Credit Bureau without replying to me is ridiculous. I didn't receive any certified letters stating that I was delinquent. I also had a problem with them paying my insurance policy on time. I received notice from my insurer that XXXX XXXX XXXX had not delivered the funds which were in escrow. It was rectified, but maybe the insurance company should have charged them interest. This is a HUD loan.
01/20/2017 Yes
  • Mortgage
  • FHA mortgage
  • Application, originator, mortgage broker
  • TX
  • 77449
Web
Back in XXXX 2016 I was contacted by a loan officer from The Money Source stating " I qualify for refinancing at a interest rate of 3.375 % from 3.875 % with no closing cost for being a good customer ". I was interested and ready to refinance. The process took months. I did not hear from the loan officer for weeks. I would call but no response. Finally I received paper work by email to refinance but it stated the interest rate was 3.875 %. I called the loan officer and told him the information was incorrect. Fast forward almost two weeks later from that interaction, I get the corrected paper work, oh and by the way it 's the end of XXXX. I signed all of the paper by email and sent them back. I waited no word from the loan officer for weeks. I called for updates, he said he will let me know. According to him, they were short staffed. During this whole time I was paying off other bills because I wanted to get a fresh start for the new year. So, I get a call from the loan officer stating that I needed {$3400.00} for closing and two bank statements to show that these funds have been in my a account. I told him that when the refinance was offered to me there was no closing cost he stated oh that 's just from a template. I was upset but I wanted the lower rate. I looked at my bank statements and see that the closing funds are not over the closing cost which he stated was required. I called and spoke with a manager because I felt the loan officer was n't providing good customer service and keeping me informed. He stated I had till end of XXXX to get another statement showing the funds in my account and everything would be ok. I received a call XXXX XXXX to inform me that I was denied for the refinancing. Loan officer stated all information needed to be turned in by XXXX XXXX. After waiting over three months and never being informed of these requirements in the first place makes me feel delude.
08/10/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 90620
Web
We bought our house in XX/XX/XXXX with the understanding that we would pay XXXX $ a month for principal, interest, tax 's and insurance. On XX/XX/XXXX I uploaded my tax documents to them, I have a confirming doc id # from them stating that they received it, and spoke with them over the phone to insure they got it and it would be paid. On XX/XX/XXXX they dropped our Morgage payment down to XXXX XXXX I called them and expressed my concern that this wasn't correct and that someone had made a mistake, but they assured me that they had greatly overestimated my tax 's and this was my new payment going forward. On XX/XX/XXXX our Morgage payment jumped to XXXX $ a month. Thats a XXXX $ increase that puts us at a hardship as we cant pay that amount every month. Thats an XXXX $ a month increase on what we originally signed legal paperwork to pay. I will be uploading Documents related to this complaint. I am not complaining because I need to pay back the escrow shortage. They paid our tax 's and insurance, like they were supposed to, I wanted to pay them back. My issue is that this was THEIR MISTAKE. Our original bill was correct, but they dropped the payment on us and let our escrow acct fall behind XXXX $ and then expect us to pay it back within a year. I tried speaking with them and getting a 2 year payment plan set up so we could afford to pay it and they wouldn't budge. Noone wanted to acknowledge the mistake and work with us, they said simply XXXX $ extra a month, or pay it off in full now. We are getting our situation taken care of, and we will be ok. But, id like them held responsible so that this doesn't happen to someone else that isn't fortunate enough to be able to pay for their mistakes. We could very easily have lost our home because of this simple, easy to avoid mistake, and they didn't accept any responsibility for the mistakes they made that led to our hardship.
02/23/2019 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • NE
  • 68123
Web
Our struggles with our mortgage company started about the sixth month we got our mortgage. My wife, daughter and I all started having health problems, which in turn caused us to have financial issues. My wife missed eight months of work and it caused things to spiral out of control even further. This company has been a nightmare. We have been harassed to the point they are sending people to put notices on our door to call the company and tape them to our door. The tape is so heavy duty, that is actually damaging our door! The financial figures the company comes up with do not make sense. Our escrow account has been mismanaged. When I filed a complaint prior, we received money back from the company and things got better for a little while. I have attempted several times to work with the company until we can refinance, but things have been quite overwhelming and like a domino effect in every facet of life. I keep making payments well beyond our monthly payment each month and the monthly payment keeps going up and up and up. The Money Source keeps employing predatory tactics to steal our home and I don't know how they get away with this. If we have a fixed mortgage, how can they keep raising our monthly payment? They have a " bucket system. '' So when I am caught up as far as I am concerned on our payments, they keep saying we are behind on our mortgage and charge fees. Now our loan is in default. For six months we had an agreement if I paid this ridiculous rate we would be caught up. For 5 mos I paid the payments on time. The sixth month I paid the payment a week late and they said that made the contract null and void and we were in default and therefore were 1 to 2 mos behind again. I don't understand at all. I have been trying to contact the HUD FHA resources, but due to other issues and the government shutdown, I did not receive assistance. However, I plan to try again.
11/20/2019 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • PA
  • 19125
Web
My mortgage was refinanced with the money source NMLS # XXXX in XXXX. I received a billing statement from them on XX/XX/XXXX. I made a payment of {$2200.00} to the money source on XX/XX/XXXX even though no amount was currently due. This is when the problem occurred. The Money Source did not apply the payment and didn't notify me. They did not refund me the payment either. At the end of XXXX, they notified they were selling my account tXXXX XXXX XXXX ( XXXX : # XXXX ). I called them asking why this notice didn't reflect the payment I made and they said it would post with the transfer to XXXX XXXX. That didn't take place. I then called them again on XX/XX/XXXX and XX/XX/XXXX and emailed them on XX/XX/XXXX. No method produced results. I called them on XX/XX/XXXX and they said they sent the payment to XXXX XXXX by wire on XX/XX/XXXX but XXXX XXXX said they didn't receive anything. At this point, I made a payment on XX/XX/XXXX and was not made aware that they wouldn't post the payment and they didn't refund it. Each day they hold my money, I pay approximately {$30.00} in interest on my mortgage.. Since I wasn't told about this and no communication was made to me and the funds were reversed, I feel like I'm entitled to my full payment and the interest I accrued on my loan while they held my money for free that I intended to pay a loan with. My XXXX statement ( that i had to pay again ) reflects {$970.00} in interest per month. That's {$32.00} in interest per day they're costing me and we're at least 20 days in since last payment ( {$640.00} as of today ). I just want my money and the interest they cost me by holding the payment. This could have been avoided if they told me or gave me options to refund it or hold it, but deceitfully they held it without telling me when they should have applied it to the loan. reference : XXXX XXXX wired on XX/XX/XXXX. {$2200.00}.
11/15/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • FL
  • 33458
Web
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CO XXXX The Money Source Customer Care Department XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, CT XXXX To whom it may concern : XX/XX/2021 my monthly mortgage payment of {$4800.00} for XX/XX/2021 was paid to XXXX XXXX XXXX through the bill payment service of my bank XXXX XXXX XXXX XXXX. XX/XX/2021 I was notified in writing that the servicing of my mortgage would change from XXXX XXXX XXXX to The Money Source effective XX/XX/2021. XX/XX/2021 my monthly mortgage payment of {$4800.00} for XX/XX/2021 was paid to The Money Source through the bill payment service of my bank XXXX XXXX XXXX XXXX. I contacted The Money Source on XX/XX/2021 to verify that they would pay my real estate taxes from my escrow account. I was told that the taxes would be paid. XX/XX/2021 I received a letter from The Money Source stating that my mortgage was one month past due, and threatening to impugn my credit rating. I contacted The Money Source again the week of XX/XX/2021 to try and resolve the claim that I was delinquent. I spoke to XXXX XXXX, she wouldnt give her full name to me, and I told her that I was not past due, and I had proof the bill was paid. I sent XXXX my bank statement that shows both the XXXX payment to XXXX and the XXXX payment to the Money Source being made. XXXX promised to get back to me, but as of this letters writing she has not contacted me. On XX/XX/2021 I received another letter from the Money Source, dated XX/XX/2021 again accusing me of being delinquent and stating that I had to dispute the validity of this debt against my property or it would be considered valid in 30 days. I officially notified both XXXX XXXX XXXX and The Money Source that I dispute the debt and again explaining that sequence of events, and that I had sent them proof of payment. I did this via registered mail, return receipt requested.
09/18/2020 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • WI
  • 53051
Web Older American, Servicemember
On XX/XX/2020 I sold my home in XXXX GA XXXX. I had money in an escrow account which should be refunded to me. On XXXX XXXX XX/XX/2020 I emailed The Money Source at XXXX @ The Money Source .com regarding why I have not received my escrow money. There was no response. I also called The Money Source at XXXX three times but NEVER was able to speak with an agent. I was on hold approximately 45 + minutes before I got fed up and hung up.On XXXX XXXX I sent another email and called twice. Again, no response. On XX/XX/2020 I emailed The Money Source THREE times and called Three times. Again-NO response. On XX/XX/2020 I emailed The Money Source and again NO response. On XX/XX/XXXX @ XXXX cst I called The Money Source and finally reached an agent-XXXX. He told me that a check was sent on XX/XX/2020 in the amount of {$1200.00} and mailed to my current address. XXXX verified the address as being on file. I was told by XXXX a new check would be sent but it would take 7-10 business days. THIS IS UNACCEPTABLE. The Money Source completely ignored my previous attempts to contact them. They acknowledged receipt of the email but FAILED repeatedly to contact me to discuss or explain why my escrow money was delayed.. My money was being used by them preventing me from earning any interest on the escrow money. The customer service of The Money Source is PATHETIC. They are absolutely the WORST mortgage company I have ever encountered. You are unable to call them by telephone without ridiculously long wait times. They do not followup emails they receive despite their automated response telling you a customer service person will contact you within 24 hours. THAT NEVER HAPPENED. If I had been late with a mortgage payment I would have been penalized. The Money Source should be penalized for their failure to pay me my escrow money in a timely fashion.
07/13/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Struggling to pay mortgage
  • NV
  • 89074
Web
My mortgage servicer The Money Source TMS. I filled out the form on their website on XX/XX/XXXX asking for deferral and requesting a call back. Their website said they would call me and where experiencing a high call volume just to wait for them to call me not to call in. It also said that I might receive letter in the mail but it would not go on my credit.. I have been calling TMS the Money Source since XX/XX/XXXX. As soon as I noticed a derogatory mark on my credit report from TMS I started calling them.TMS told me someone would call me back in 48 hours and I never received call back. Ive called TMS over 10 times and hear a different story each time. One time they said I have never filled out the forbearance form for call back and that I never went to their site on XX/XX/XXXX and I logged back in on XX/XX/XXXX to check. I have screenshots of my history showing I accessed their site both those days. I have attached this screenshot Another time they said the laws in the state of Nevada prevented them for calling about anything to do with a debt. I have tried to use waybeackmachine to get archive of the page but it was from within my account so they dont have copy of the actual screen. I would not have this url if I never accessed and filled out their form. Attached is another screenshot of me trying to search in waybackmachine. I have an open case with Fannie Mae but so far they have been unable to do anything because TMS just tells them that I never signed up for forbearance. My credit score was over 740 before this and have not missed any credit card or mortgage payment ever. My place of employment closed in XXXX due to COVID-19 and I have had no income since then. I have been using my credit cards and now credit cards are canceling due to derogatory remark on my credit card and late mortgage payments.
02/09/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • FL
  • 32246
Web
In XX/XX/2022 I submitted a form for my XXXX XXXX XXXX payments to be taken every 2 weeks instead of every month. I also requested ont he same for for an additional {$50.00} to be taken every 2 weeks. I spoke to a customer service rep for The Money Source mid XXXX who assured me that the form I submitted would go into effect XX/XX/2022. This did not occur. On XX/XX/2022 I call The Money Source and I was told that no one looked at the form I submitted. They then told me I had to pay a month in advance which I did alsong with an extra {$100.00} as an extra principal payment. I was told that the form would be processed by the end of the business day and I would get a call back. This did not happen, but they did take the extra money. On the XXXX XX/XX/2022 I called again and was told again no one looked at the form.But i was assured it would be taken care of by the end of the business day on the XXXX. This did not happen. I lodged a written complaint to the company via email on Monday XXXX XXXX and have had no response to my written complaint. I initial and spoke to a customer service rep on XXXX XXXX who gave me the same spiel don't worry it will be fixed by the end on the day on the XXXX and it is still not fixed.I have spent about 6 hours since XX/XX/XXXX on the phone with customer service, their supervisors and I still have not had the issue rectified. They XXXX very quick to take an extra payment but not delivering on service. I feel like they deceived me by telling me I needed to pay an additional month and then didn't care to implement the form I sent them. I have been told by the company there are no extra fees or charges involved in paying every 2 weeks. I feel like they don't want to implement their own form because they would be losing in interest over the 30 year loan.
02/07/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • MI
  • 48105
Web
Hi, My name is XXXX, my loan was originally serviced though TMS and then was transferred to XXXX XXXX. I made my first payment to TMS for {$2500.00} of which {$2300.00} was the normal mortgage payment and {$180.00} was extra to be applied to principal balance. At the time of payment the extra {$180.00} was not applied to principal and left in a " suspense '' account. I called multiple times to get this extra payment applied to principal, as the principal balance is accruing interest and it should not be sitting in a separate balance. In the middle of XX/XX/XXXXmy loan was then transferred to XXXX XXXX. The transferred balances were as follows : Transferred to XXXX ( XXXX Received ) Principal Balance : {$310000.00} Escrow Balance : {$4100.00} TMS Account at time of Transfer Current Principal Balance : {$310000.00} Current Escrow Balance : {$4200.00} Suspense : {$180.00} As you can see, the balances were not transferred correctly and there has been no action taken to correct these issues. I have contacted TMS by phone on the following dates : XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX XX/XX/XXXX Each time I've contacted TMS there had been promise of follow-up and resolution to these issues. I have had no follow-up contact, or even acknowledgement of the conversations via email. Due to this lack of response I've been forced to file this complaint. I feel as though their corporate operations are actively trying to deceive me while not taking any action. At a minimum they need to increase the visibility of their communications with customers, follow-up with emails or phone calls, anything that shows that an account discrepancy is actually being worked on being resolved. The response shouldn't be, we'll fix it, trust us. There needs to be accountability and visibility. Best Regards,
01/19/2022 Yes
  • Credit reporting, credit repair services, or other personal consumer reports
  • Credit reporting
  • Problem with a credit reporting company's investigation into an existing problem
  • Their investigation did not fix an error on your report
  • CA
  • 91789
Web
1. I set up a recurring monthly payment in my personal account on the money source ( https : //www.themoneysource.com ) for my mortgage monthly payment on XXXX or earlier. 2. I received an email from " the money source '' named " Recurring Payment Confirmation '' in which I was told " This email is to confirm that following your request, we have established automatic drafting ( " auto draft '' ) for your monthly mortgage payment. The first auto draft will occur on XX/XX/XXXX ". I also received a paper letter from the money source which told me the same thing after a few days. 3. Nothing happened on XX/XX/XXXX and even XXXX XXXX, but I didn't know that, until XX/XX/XXXX I suddenly found the recurring payment didn't work. Because there was a late payment record appeared on my credit report. My credit score drops almost XXXX to XXXX and my wife 's as well 4. I made the 2 months payment on XXXX XXXX. I explained reason is not on me and asked the creditor to remove the late payment record. I was told they submitted a request but could not guarentee. 5. I wrote to the money source through their message system on XX/XX/XXXX. And they asked me to call them. 6. I called them today XX/XX/XXXX. They refused to remove the late payment record on my credit report. One of their manager told me they had send me a posted mail telling me that they turned off my recurring payment. But I never received such letter. And I don't know why they didn't send an email to me as well this time. 7. I have to file the complaint here since it is not my fault to make such a late payment. And the money source -- my creditor refuses to correct my record. My credit score is kept well, I don't want it destroyed by the creditor 's mistake. 8. I have the email and paper mail copy attached.
08/05/2019 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CO
  • 80016
Web
My loan was originated and serviced by TMS in XXXX of 2019 and then sold to XXXX XXXX in XXXX of 2019. I have made a payment to XXXX XXXX on XX/XX/2019 for XXXX using my bill pay from checking account and the payment was received and reflected on the account/statement. On XX/XX/2019 my loan was transferred back from XXXX XXXX to The Money Source according to an official letter that I received from XXXX. I have made a bill pay from my checking account to XXXX on XX/XX/2019 but the payment was rejected due to the transferring process, so I have made a payment to The Money Source on XX/XX/2019 after the transfer was supposed to be completed. When I called TMS to confirm the payment was received they claimed my loan was never received from XXXX and told me to make a payment to them, I had to email them letter from XXXX to onboard my own loan. Once they onboarded my loan they stated they dont have my XXXX or XXXX payment, I had sent TMS multiple documents showing that payment for XXXX was made to XXXX and that I have sent payment to TMS on XX/XX/2019 using bill pay. After 2 weeks they finally found the payment that I made on XX/XX/2019, but applied it to XXXX. I have been waiting for them to research for more than 2 weeks that I have made my payment to XXXX for XXXX. In the meantime they sent me a delinquency letter and put a mortgage late on my credit report. Both of which are erroneous. I have spoken to XXXX XXXX, XXXX, and XXXX from servicing of TMS and they are saying that the issue is being research. While they are researching the issue they are issuing false mortgage lates to credit report and delinquency letters. There is a 60-day waiting period to issue any sort of delinquency after a transfer of the loan has occurred and TMS has grossly violated my rights.
12/14/2020 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • GA
  • 30215
Web Servicemember
We purchased our home in XX/XX/XXXX. Since this time our mortgage has been sold three times ( and is apparently scheduled to be sold again at the beginning of the upcoming year ). The third time, XX/XX/XXXX, was to the current mortgage holder, The Money Source ( TMS ). We received an 'Escrow Account Disclosure Statement ' dated XX/XX/XXXX stating that we had an escrow shortage and would have to pay an additional {$6700.00}. The options for paying this deficiency was to either pay the total in full or to increase our monthly mortgage by {$640.00} each month for the next 12 months starting XX/XX/XXXX. We reviewed an 'Escrow Account History ' included in the statement but could not understand where TMS got it's information regarding the deficiency. Nevertheless, we paid the additional {$640.00} for XXXX and XXXX to avoid any discrepancies on our end until this matter could be resolved. We have called TMS an innumerous amount of times trying to gain clarity and understanding of this issue. We have spoken with at least one supervisor who promised us she could get us a re-analysis of the escrow and get the 'Loan Boarding Department ' to correct the account numbers, as they are wrong ( according to her ). We did identify to TMS that our initial balance was not itemized in the 'actual escrow running balance ' and therefore caused a false negative starting balance. We also pointed out that our monthly payments were 'lumped together ' instead of being shown as paid, on-time each month. We further discovered and pointed out that out homeowners insurance was removed twice this year ( TMS said that was an error and needed to be corrected ). They have hung the phone up/disconnected our calls and made promises about follow-up calls that have not been followed through with.
12/04/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • MD
  • 20814
Web
1. TMS ( XXXX XXXX is having systemic IT issues negatively affecting me and several neighbors whose loans have been transferred to XXXX XXXX. I bet this is affecting their wider customer base/ 2. TMS, as the servicing arm of XX/XX/XXXX my refinance company, set up a new loan for me in its system on XX/XX/2020. No payment was due for XXXX as shown on their monthly statement ( attached ). 3. My first payment was due on XX/XX/2020. I made the payment on XX/XX/2020. Proof of payment clearing from my bank is attached. Proof that TMS applied the payment as shown on the monthly statement is also attached. 4. On XX/XX/XXXX TMS sent an incorrect Goodbye letter Dated XX/XX/XXXX saying that the loan will transfer on XX/XX/XXXX to XXXX XXXX, but that consumers are liable for making their XX/XX/XXXX to the new servicer which does not even have the loan onboarded. 5. Unexpectedly, on XX/XX/2020 TMS moved my XX/XX/2020 payment to a suspense account causing me to show as delinquent on the XXXX payment. It then transferred me as delinquent to new servicer. 6. TMS managers stated on the phone call that I can ignore the issue and that I will not be transferred as delinquent to XXXX XXXX. They apologized profusely about the incorrect goodbye letter and stated that to get it corrected I must send a Notice of Error, which I did to theirXX/XX/XXXX, CT address. I have not heard back yet. 7. On XX/XX/2020 TMS reported me late for the XXXX payment. Again, proof of timely payment and payment application is attached. 8. On XX/XX/2020, the new servicer onboarded the loan and stated that I was transferred as delinquent on my mortgage and that TMS never sent over the XXXX payment. The new servicer wants me to make the XXXX payment again to come current.
12/14/2021 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • IL
  • 60004
Web
My mortgage servicer " The Money Source '' processed a Covid-19 partial claim on my mortgage back in XXXX with my first payment after being due in XXXX As part of that partial claim, they were supposed to include my past due arrears along with any tax or escrow payments that had been made. This is per HUD guidelines for FHA backed mortgages for people who had issues over the past 18 months or so. However, they did not include a tax payment of approx $ XXXX that should've been made back in XXXX of this year. Instead they rolled that over and are now charging me an additional $ XXXX in escrow and had originally asked that it be paid back in 12 months. Due to that additional tax payment being included, my mortgage when from approx {$1800.00} per month to {$3600.00} a month. My mortgage was in a Covid-19 forbearance when The Money Source purchased it from my old servicer. In XXXX, I requested a Covid-19 partial claim adjustment so I could start to resume making monthly payments. In XXXX, my monthly payment amount was correct but it skyrocketed in XXXX after The Money Source rolled in the additional tax payment. When I called them and tried to get this addressed, they then tried to extend the time period to pay the $ XXXX to 24 months. That still increased my mortgage by over {$1000.00} a month because of the other changes to escrow as well. I have tried to get this resolved numerous times with no solution. Several times I've spoken with them, the reason it wasn't included in the partial claim has changed. At this point my mortgage is behind because they won't resolve the issue and follow the HUD guidelines that were laid out. I'd like assistance in getting this resolved so that my mortgage is more affordable.
02/07/2023 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • KS
  • 67226
Web
My name is XXXX XXXX and I've been dealing with an issue with no result since XX/XX/XXXX ( when my loan was transferred from XXXX to TMS - the money source. ) My loan XXXX at TMS is : XXXX and property XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX ks XXXX XXXX Pin # XXXX XXXX already paid the taxes and TMS proceeded to disburse the funds from my escrow account for taxes in the amount of {$3100.00} however it was never received by XXXX XXXX XXXX department and i have verified this with them every week since XXXX. I have requested The Money Source to close my escrow account so i have 25 % equity and i no longer wish to have someone manage paying property taxes or insurance. A case has been opened at The money source in XXXX and i was told it was closed out XX/XX/XXXX. Yet, this is not resolved so im not sure why someone would close out this case. This has been a nightmare to deal with and everytime i call and speak to someone they tell me they will call and talk to the county to find the check. I also filed a complaint with XXXX and they did send me an image of that check ( ATTACHED ) which the county said that was the one deposited. The money source has failed to do this or their due dilligence. Everytime i contact them they just send me a standard verbiage. This has been 3 months. One time i called the money source and the property tax department told me the check says its sent out but wasnt so they might use it for XX/XX/XXXX taxes. That is unacceptable. its not showing up in the escrow account. Everything about this is unacceptable and i expect the funds returned to me and my escrow account closed. I will pay XX/XX/XXXX taxes and all taxes and insurance going forward. I expect a refund check of {$3100.00}
02/07/2017 Yes
  • Mortgage
  • VA mortgage
  • Loan servicing, payments, escrow account
  • KY
  • 401XX
Web
My wife and I bought our first house but the Loan was sold to the Money Source Inc. After being with them for a Year we Refinanced with them because we received a call from XXXX saying they can lower our Mortgage Payment. Which was great. Get to save some money. Or at least we thought. Well not really. We follow through with the XXXX and all of a sudden we never heard back from XXXX. A bit disrespectful towards us considering we had Multiple Questions regarding the Refinancing. Well then we had the fortune to speak with XXXX who followed the rest of the Refinancing with us. We asks numerous Questions regarding the Escrow, Taxes and she reasured us that she double checked everything and because of my XXXX Exception it lowered everything. Alright great well until we finished the Refinancing Loan. We get a Call from our Home Owner 's Insurance Company saying they have n't received payment and our policy is about to lapse. That was taken care of. Later we began inquiring about our Escrow Funds in for the Previous Loan and never been told about it or asked they applied the Entire Balance to the Refinancing Loan. Then until XX/XX/XXXX we receive the tax document Saying we need to pay {$2700.00} to MONEY Source because they under estimated taxes and escrow. If we do n't pay it our mortgage will be over {$1700.00} a XXXX. But if we do are Mortgage Payment is going from {$1300.00} to over {$1500.00} a month. Which we do n't have. Clearly there was n't any reason for us to Refinance except for Money Source to XXXX over a XXXX and Family out of their Money. Even though it 's something we asked them Multiple times about but clearly someone is n't doing their job Correctly or They do it for Profit.
04/17/2023 Yes
  • Credit reporting, credit repair services, or other personal consumer reports
  • Credit reporting
  • Problem with a credit reporting company's investigation into an existing problem
  • Problem with personal statement of dispute
  • OK
  • 74820
Web
Dear Consumer Financial Protection Bureau, I am writing to file a complaint against The money source regarding their poor quality of service. I have had several issues with this company, including a late payment that was their fault and their failure to provide me with adequate customer service. I reached out to a supervisor regarding the late payment, and they were supposed to call me back to discuss a resolution. However, I never received a call back, and when I followed up with the company, they were rude and unhelpful. Furthermore, I have had additional issues with this company, including a lack of communication and failure to provide me with the courtesy of fixing their mistakes. I have tried to contact them to address these issues, but they do not call me back or provide me with any assistance they put a late payment on my credit report for XX/XX/2022 I tried to explain what happened to the agent that was supposed to help me but all he did was try to confuse me I explained they had me cancel the payment on the app and pay it over the phone I have been doing business with the money source for almost 2 years I have never been late always pay on time this is effecting my credit report the last agent I spoke with was XXXX XXXX, I am extremely disappointed with the level of service provided by The money source, and I believe they are not meeting the standards of customer service that are expected. I hope that the Consumer Financial Protection Bureau will take action to ensure that this company improves its service and treats its customers with respect. My account # XXXX Thank you for your attention to this matter. Sincerely, XXXX XXXX XXXX
01/15/2016 Yes
  • Mortgage
  • Conventional fixed mortgage
  • Loan servicing, payments, escrow account
  • NJ
  • 07002
Web
I got a loan through The Money Source in XXXX XXXX for a primary residence. In XXXX they sent me a letter stating that there was an escrow shortfall. I had to come up with another XXXX to cover the shortfall and even with this additional money my mortgage payments increased by ~ {$500.00}. In the meantime I was granted a 5 year property tax abatement by my township which effectively reduced my mortgage payments by ~35 %. I just received another letter from The Money Source stating that I had another escrow shortfall. They have now instructed me to pay another {$2400.00} and that my mortgage will increase, yet again, by another {$400.00}. I then went to the tax office in my township and requested a copy of the property taxes I paid last year. When I called the representative who handled my case back in XXXX, we went through the numbers and there is some mysterious amount of over {$7000.00} that is listed as an " actual '' payment that does not match up in any way with the document I received from the township. The statement The Money Source sent is very confusing and has " actual '' payments and disbursements listed. What 's the difference? Either they are guilty of gross negligence in calculating my property taxes not once, not twice, but three times ( because they also got it wrong prior to my closing ) or they are a predatory lender. The way the conversation ended was I was told that I had to pay the new mortgage amount, which now represents an ~ {$900.00} increase from the amount I was originally quoted I would have to pay, by XXXX XXXX. The statement I received is dated XXXX/XXXX/XXXX but I just received it today, XXXX/XXXX/XXXX.
06/09/2020 Yes
  • Mortgage
  • VA mortgage
  • Problem with a credit reporting company's investigation into an existing problem
  • NV
  • 89431
Web Servicemember
I simply want my perfect mortgage payments made to The Money Source to be reported on my credit report. Back History : It took 2 years to assume my father 's VA loan from The Money Source after he passed away. I did everything to assume the loan, The Money Source sent out a notary to my house and just failed to put me on record on the loan. I had spoken to at least 30 people at the Money Source and after 2 years nobody could help me. I contacted the CFPB in XXXX and within 1 week the loan was finally put in my name. The request : I asked The Money Source since I have been paying the mortgage for 2 years could they please report that to the credit bureaus. They said no because the loan wasn't in my name - which was what my 2 year battle was all about! They said starting XX/XX/XXXX the loan will be in my name and it will start reporting. I waited until XXXX to call when of course it wasn't reporting. I spoke to XXXX, she spoke to a manager who said she would investigate. I informed her that I have a 2 year history of nobody calling me back from The Money Source and she scheduled a time to call me back. The next day at XXXX XXXX. Of course I did not receive a call so I left her a message and of course never heard back. On XX/XX/XXXX I called again and reached XXXX who also said they needed to investigate and they would get back to me and of course again they didn't. I have now made 6 payments in my name on time and I know my only hope to get this reported is to contact the CFPB. Mortgage payments really boost a credit score, is it fair that they get to decide what customers they give credit to and what customers they can ignore?
01/25/2023 Yes
  • Mortgage
  • VA mortgage
  • Struggling to pay mortgage
  • FL
  • 33458
Web Older American
At the end of XXXX I turned XXXX years old. My husband has passed away. My husband was a veteran and that is how I have a VA loan. I needed to stay home and isolate during the pandemic out of fear of infection. After the forbearance I requested a VA partial claim on XX/XX/XXXX. The partial claim was sent out XX/XX/XXXX. My memory is not great and I misplaced the documents and did not return them in time. My understanding that since the partial claim did not go through is that I am eligible for another one. I requested an updated partial claim. My interest rate is 3.25 % and a partial claim would have allowed me to keep that rate. My lender refused to send my loan to VA for another partial claim. Then in XXXX, XXXX they ran my loan for a modification and sent me an application. I did not fill the application out correctly and it was denied. I was verbally told the VA was unwilling to help me. I asked for the VA denial in writing and was told they would not provide. My lender is now calling XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX. They refuse to take my husband 's name off the calls ( even though they have the death certificate ) and they call and ask for my deceased husband. This is very hard on me as his death was very difficult for me. I ask them not to leave voice messages for my deceased husband as it causes stress, they told me no. I feel as though I am in a bad position because my lender did not send me to VA for the partial claim while it was available. Also, they have sent me to an attorney for foreclosure action. How can they foreclose and kick me out when they blocked assistance that would have brought my loan current?
01/22/2020 Yes
  • Credit reporting, credit repair services, or other personal consumer reports
  • Credit reporting
  • Problem with a credit reporting company's investigation into an existing problem
  • Problem with personal statement of dispute
  • CA
  • 91343
Web
In regards to TMS response. It is obvious the did not read my concerns & their only concern is about being right. If they took the to understand that I have had an issue with our bill pay & TMS not receiving my payment in time. According to our payment we made in XX/XX/XXXX it was received by TMS on XX/XX/29. TMS is claiming they received on XX/XX/XXXX. Causing a late on my credit report. The same issue happened in XX/XX/XXXX. We made a partial payment and the final payment again on XX/XX/XXXX which would have been the remaining amount due. Once again, we did our payment via bill through XXXX. Once again, XXXX stated it was delivered, we waited & waited & the payment did not post to the account. We contacted XXXX & they said the error was theirs which we provided proof in our first complaint which fell on deaf ears because TMS HAS TO BE RIGHT ALL OF THE TIME. The error wasn't ours. There was an issue with the bill pay. And I was reported late once again. I had been in communication with TMS and exlained my situation several times. A customer service rep advised us to provide the paperwork from XXXX XXXX XXXX which I did in my first complaint. Which I know you didn't even bother to read. If you would have you would have seen the communication between XXXX and myself. I am respectfully asking you take a moment to see the error was with XXXX - and I shouldn't be penalized for their misktake. I am asking for a Manager to review the information previously provided & for someone at TMS to care about their customers. The service I have been receiving is horrible and I am beginning to feel as I am being discriminated against.
10/19/2019 Yes
  • Mortgage
  • VA mortgage
  • Struggling to pay mortgage
  • TX
  • 78214
Web Servicemember
I submitted all of the required documents to The Money Source also known as TMS, in order to be considered for payment assistance options. TMS confirmed, they've received the documents but will not consider a review for payment options, I was advised by my service lender TMS to reach out to the VA in order for them to help postpone the foreclosure sale date of XX/XX/XXXX. The servicer TMS, stated they are unable to help me unless the VA says the foreclosure sale can be postponed. I am requesting a Loan Modification from TMS. My name is XXXX XXXX XXXX, and I am retired XXXX Veteran. I was released from employment and have attempted numerous times to request assistance since the beginning of my unemployment hardship. I was verbally denied the ability to apply for any retention options since the beginning of my delinquency, and throughout the course of my unemployment hardship. I've now gained employment, and again began to request assistance but have been verbally denied the opportunity to apply for any payment assistance programs again. I am asking for TMS, the VA and CFBP to help request a foreclosure postponement for the reason that : 1. I have a VA loan. 2. My home has never been reviewed for any loss mitigation options in the past. 3. I've attempted to apply since day one of my h ardship and through the course of my delinquency and have been verbally denied the ability to apply. 4. I do not want to end up homeless, as I have now recovered from my hardship and able to resume payments. I am requesting assistance with the past due balance to bring the account current. TMS has the following documents attached.
03/15/2021 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • OK
  • 73099
Web
The Money Source is the mortgage lender my loan was sold to without my permission this happened in XX/XX/XXXX. Since then I make all my payments to ( TMS ) The Money Source. Well, twice I did modification on my home due to financial hardship. Instead of my mortgage payments going down they increased, but I still made my payments. Last summer I applied for an equity loan {$38000.00} it was through HUD well I was approved, but ( TMS ) kept the loan without my consent and they had to put it on my principal and escrow. ( TMS ) applied {$31000.00} to my principal loan, my beginning balance was {$170000.00} this should of made my ending balance {$140000.00}. Instead they are still showing my principal balance at {$170000.00}. In my escrow there was a beginning balance of XXXX after deposit of {$7900.00} from equity loan and disbursements of {$5900.00} there was an ending balance of {$180.00}. In XXXX XXXX I received a bill from ( TMS ) stating my escrow account had a shortage in the amount of {$630.00} and If paid before XX/XX/XXXX my monthly mortgage payments would remain the same. On XX/XX/XXXX I sent them a payment of {$1600.00} according to ( TMS ) website my escrow was {$440.00}, my mortgage payment with late fee was {$1100.00}. Well, after I made this payment ( TMS ) increased my mortgage to {$1200.00} I called ( TMS ) and confronted them their rep told me I still had a balance on my escrow of {$190.00}. ( TMS ) rep told me on XX/XX/XXXX they would look into my situation and I would hear from them but I did not. I have a suspicion ( TMS ) is stealing and padding my account I need an investigation done.
10/06/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 92346
Web Servicemember
On XX/XX/2020, I set up automatic payments on https : //www.tmscustomer.com. I have 10+ credit cards and 2+ mortgages, whenever I set up an automatic payment, it is effective immediately. On XX/XX/2020, I was rushed to the emergency room and I had XXXX and XXXX. I was hospitalized for 5 weeks. I was so ill, I was not able to care for myself to include being able to XXXX due to XXXX XXXX XXXX & not being able to XXXX on mobile devices due to the symptoms of these illnesses. I was released from the hospital on XX/XX/2020. On XX/XX/2020, I double checked https : //www.tmscustomer.com to ensure my payments were current and everything was smooth. Unfortunately, I found out that wasn't the case. Therefore, I made my payment immediately for XX/XX/2020. I contacted TMS Customer Service the following 2 business day ( XX/XX/2020 ) and ( XX/XX/2020 ). I was informed that automatic payments take 1 month to be effective and I informed them it was an error on there end because I wasn't informed of this. Additionally, I was advised by XXXX, XXXX & XXXX to contact them directly to dispute the late payment due to their error and due to me contracting XXXX. On XX/XX/XXXX, I spoke with 3 different representatives. One representative informed me she would dispute the information but was not 100 % sure on this case. Another representative refused to let me speak to the credit department and told me to call her on XX/XX/2020 which I did and she informed me my request was denied and she wouldn't suppress the information due to the above errors and illnesses. Please remove/suppress the late payment for this error.
08/29/2018 Yes
  • Mortgage
  • VA mortgage
  • Closing on a mortgage
  • TX
  • 78665
Web Servicemember
I closed on my house XX/XX/XXXX. On XX/XX/XXXX I was contacted by a loan officer from the mortgage company that my closing lender shuffled me off to. He told me all kinds of great things like skipping 2 months mortgage, saying I would get back XXXX dollars, and pay XXXX which would be added to the end of my loan. This is the deal I consented to and signed on XX/XX/XXXX. Then I was told " Trump changed the rules on IRRRLs '' ( so far as I can find he did not ) and we had to wait till XX/XX/XXXX. Well on XX/XX/XXXX they sent me another loan estimate. This one was me paying them XXXX in closing costs at the end of my loan, and XXXX in cash at close from me. I suspect they didn't think I would read it because when confronted they said it was a mistake, and they would fix. ( It was a clear bait and switch ) but now instead of XX/XX/XXXX it was XX/XX/XXXX ( Trump changed the rules again they said ) I asked him how sure he was this time that It would close on the XX/XX/XXXX because I was going to budget that month without the mortgage payment needed. He said mortgage payments aren't late till after 30 days so If I just cancel the auto pay it would be fine. Now as of XX/XX/XXXX I got another new closing disclosure. This one saying XXXX in closing costs and XXXX in cash to close. ( another bait and switch ) After playing phone tag ( They ignored my emails for 3 days until I called them out on it ) Now apparently an IRRRL requires another appraisal ( not according to XXXX XXXX XXXX ) and they have to get cash to close. If this isn't illegal it is at the very least immoral and unethical buisness practice.
01/10/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 949XX
Web
Notice of Error XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX XXXX The Money Source assumed my loan in XX/XX/2021. My property taxes have not been paid and were due on XX/XX/XXXX. I have called at least 4 times since XXXX to discuss this. My property taxes are now past due. XXXX XXXX I spoke with XXXX XXXX I was on the line with him for over an hour. He could not explain why they have not been paid. He tried 4 times to reach a manager to help us but no one was available. He said that he would escalate this and that someone would call me back with in XXXX hours. Today is XX/XX/XXXX and I have not heard from anyone. XXXX XXXX I spoke with a very nice man. We were also on the phone for over an hour. He said he would escalate my case and I never heard from anyone nor did my taxes get paid. He assured me that if they are paid late, that I would not be responsible for paying the late fees. -I had XXXX different calls on XXXX different days prior to XX/XX/XXXX. XXXX XXXX I sent them a message similar to this one with a request that a manager call me on Monday XX/XX/XXXX. This is sloppy and unacceptable business practice. No managers are available to help rectify the situation. No one returns calls. It is a helpless feeling to have no one at the other end of the line who is actually able to help. Amount Due before XX/XX/2021 {$10000.00} 10 % Penalty after XX/XX/2021 {$1000.00} The Money Source Inc . XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, CT XXXX Please help me get my property taxes paid. Is there a way to have someone else service my account? Thank you for your assistance in this matter! Best, XXXX
07/16/2021 Yes
  • Debt collection
  • Mortgage debt
  • Attempts to collect debt not owed
  • Debt was paid
  • CA
  • 94085
Web
In summary, my loan was paid off to the previous lender, but the new lender still demands a monthly payment. The new lender threatened to report a negative record to my credit report. I have to make payment to a closed loan to avoid bad credit impact. DETAIL BELOW, The loan was transferred from The Money Source Inc to XXXX XXXX at sometime in XXXX or XX/XX/2021. The loan transfer effective date in The Money Source Inc 's statement is XX/XX/2021. The loan transfer effective date in XXXX XXXX 's statement is XX/XX/2021. This is very confusing, please see attachments for detail. The loan was paid off on XX/XX/2021. The fund was sent to The Money Source Inc. See attachment for transaction detail and full reconveyance letter from the money source for lien release. Currently, I have no loan outstanding with the money source or XXXX XXXX. I should pay nothing to XXXX XXXX. XXXX XXXX refused to admit the fact and asked me to make the payment. I contacted XXXX XXXX weekly or even twice a week since XX/XX/XXXX and they always told me to wait patiently until the loan is near 60 days after the transfer, which is XX/XX/XXXX. XXXX XXXX doesn't actively contact the money source and refuses to further help me on this matter. Now, it is near the 60 days past the transfer date based on XXXX XXXX 's record. The XXXX XXXX threatens to report past due and I have to pay the {$6300.00} to avoid negative credit impact. I also contacted The Money Source on XX/XX/XXXX, they promised to solve the case before XX/XX/XXXX, but an agent called me on XX/XX/XXXX and still couldn't tell me why the case is not solved.
08/14/2021 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • GA
  • 30253
Web
This is a follow up to my previous complaint. The Money Source still owes me an escrow refund from XXXX. Also, they misapplied my XX/XX/XXXX payment. My payments are made directly to the Money Source and not the Chapter XXXX Trustee. They are not authorized to move my mortgage payment I made directly to TMS to a trustee fund that I know absolutely nothing about. The trustee does not take or manage my mortgage payments. TMS is committing fraud and trying to make it appear as thought I am behind on my mortgage payments. My post petition payments have been paid in full each month since filing for Chapter XXXX 4 years ago, and TMS representatives are lying in the statement they submitted below. " There are no additional surplus funds owed Ms. XXXX. Regarding the payment status, the Borrower is making payments within a Chapter XXXX Bankruptcy Plan. However, TMS frequently receives partial payments of varying amounts from the Borrower, rather than the full contractual monthly amount of {$1700.00}. Partial funds are placed in suspense until the full payment amount can be applied. As of the date of this letter, the contractual due date is XX/XX/XXXX and there is a suspense balance of {$500.00}. '' Also the {$500.00} should be credited to my XX/XX/XXXX payment. My account should show as current with only the XX/XX/XXXX payment due at this time. I paid my mortgage in XXXX and those funds need to be applied correctly. The trustee does not take, accept, or manage Chapter XXXX payments on my behalf. This is FRAUD! My XX/XX/XXXX payment needs to be applied to my XX/XX/XXXX mortgage payment immediately.
01/07/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 90815
Web
I received a loan from XXXX XXXX XXXX in XX/XX/XXXX and there were no escrow payments set up on the loan. This was an oversight on my part and ever since XX/XX/XXXX I've been trying to get this set up for my account, which is serviced by XXXX XXXX XXXX. Initially TMS asked me to write a letter of intent and mail it in XX/XX/XXXX, for which I never heard back. In XXXX I was told the letter was received and my request was being processed. In XXXX there was no change. I called to complain and nothing was done to further the status of my claim other than to disable and reenable my autopay and wait until XXXX. I waited until XXXX when I checked my account and saw that my autopay never set up and I was charged with a late fee of {$120.00}. I spoke to an agent and they told me that the late fee wouldn't be refunded I wouldn't be able to have escrow payments set up until XX/XX/XXXX. I was furious and told my story that I had been trying many months to do this and this was the first that I was hearing this. After being escalated to an agent, it was settled that it would be XX/XX/XXXX. Since, I was told that autopay wouldn't work until XX/XX/XXXX as well, and have accidentally made late payments ( I'm used to autopay ). Now that we're here in XXXX. I'm not even sure if it's been set up at all. They don't respond to my emails, or return my phone calls after leaving voicemails. I've made the decision at this point to refinance again and distance myself from the TMS service. To date, I've paid {$11000.00} in interest and {$220.00} in late fees. I'm extremely unhappy with the service and problems.
02/06/2022 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • OK
  • 73159
Web Older American, Servicemember
XXXX of this year I became 100 % XXXX. My county tax assessor told me I would no longer have to pay OK taxes. Than gave me lots of paperwork so I was informed about the free tax items I could buy and limits. I immediately notified my mortgage co., The Money Source. Gave them the information they needed plus sent them a certified envelope to ensure delivery, they received it on XX/XX/2021. I have the signed green sheet from post office. I than proceeded to call them, basically monthly. I got excuses, lies, and broken promises. I even had the tax assessor fax them another copy. The tax office received a computer generated slip saying it was received. Kept calling, they continued to blow me off, lie or hang up. So in XXXX while making my payment I included only interest. principle and house insurance, plus some additional money to go against principle. They started calling, telling me I was delinquent. If I didn't pay complete balance they would report me to credit bureau. Made the same payment in XXXX, and they didn't report me to credit bureau but did add a late fee. Now in the mean time I had filed a complaint # XXXX with the XXXX. Yesterday I received a copy of their reply to the XXXX and they said they mailed my escrow of $ XXXX in XXXX. Plus said I had a new amount to pay, less taxes. Problem is on next statement they say I owe {$1700.00} plus a late fee. Under past payment summary they show my two {$800.00} payments but as unapplied! I also received a annual tax and interest statement which shows my escrow balance and that they still have it. So they have also lied to the XXXX
06/20/2019 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • GA
  • 30318
Web
I refinanced my mortgage through XXXX XXXX. I closed on refinancing on XX/XX/2019. I was directed by XXXX XXXX to make my monthly payment to The Money Source, their loan servicer. I made a monthly payment as well as two payments toward the principal. In total, I paid The Money Source {$3500.00} between XX/XX/XXXX and XX/XX/2019. Of the {$3500.00}, {$1200.00} was interest, {$480.00} was escrow, and the rest went towards my principal balance Sometime in late XXXX, XXXX XXXX sold my loan to XXXX. However, when I received my first statement from XXXX, I was surprised to see that XXXX was not reflecting any of the payments I made to The Money Source. I contacted all three companies involved : XXXX, The Money Source, and XXXX XXXX. XXXX and The Money Source were telling me they owned the loan. However, XXXX XXXX assured me The Money Source was wrong and that XXXX owned my loan. When I asked XXXX XXXX why my payments to The Money Source were not being reflected by XXXX, they did not know the answer. As of today, The Money Source and XXXX are saying I owe them my normal monthly payment on XX/XX/2019. In short, XXXX XXXX has created an issue where two different lenders/loan servicers believe that I owe them for the same loan. I have tried to resolve this issue with all three companies but they all tell me they will investigate or look into the issue at hand. I am filing a complaint to ( 1 ) get assistance resolving this issue, ( 2 ) to inform others of the issue that I had, and ( 3 ) to help the industry improve and remove bad players who don't do things as they should.
12/09/2020 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • PA
  • 191XX
Web Servicemember
Currently, I am seeking the return of {$8400.00} as well as any access monies that have been charged because the city of XXXX returned over {$9900.00}. Additionally i am requesting that the late fees charge for XXXX and XXXX be removed from my account. The supporting documentation, one which is an actual letter from TMS stating that there were no fees being charged and no payment due ( COVID related ) has been submitted. Additionally, the loan was entered into Forbearance in XXXX. I have email XXXX XXXX, who typically responds to these complaints but I am flooded with misinformation when I call this company. So much so that I have began to record my interactions with the representatives. I requested an escrow analysis and audit on the account that dates back to the periods which were supposed to be tax exempt. My biggest concern is TMSs allocation of money to their corporate account. This seems unethical and unprincipled. I would like to additional money I paid returned to me. I have never received a return call from 4 representatives who promised to make the necessary changes associated with the erroneous late fees, the removal of the forbearance and the return of the funds owed back to me. The city of XXXX conformed that the check was cashed by TMS. Additionally, i am owned approximately {$14000.00} in over payments. I will escalate this complaint to the Department of Veterans affairs, my Congressman and the Attorney General if this resolution is not accompanied by an actual audit of this account. The payments should have NEVER exceeded {$2300.00}.
03/04/2023 Yes
  • Credit reporting, credit repair services, or other personal consumer reports
  • Credit reporting
  • Incorrect information on your report
  • Account status incorrect
  • NH
  • 032XX
Web Servicemember
The Money Source told me over the phone multiple times that enrolling into their Home Loan Modification Program would not affect credit reporting. This got approved in XX/XX/2022. The trial payments started in XXXX of 2022. They filed Non Disclosed to the credit bureau as agreed from XXXX, and XXXX of 2022. Then randomly slapped a 90 day late tag in XXXX dropping my score roughly XXXX points. In contacting them about it they said that is not how it works and it wont be fixed, even if the employee who have you that information is incorrect we will not fix your credit report. So I confirmed if you are acknowledging your company gave me the wrong information, that person would simply be talked to, and you would still let my credit report be negatively effected they would still let my credit report be negatively effected they replied yes. I asked for the record calls to be reviewed, which they never told me they reviewed them. I can again to confirm if it was done days later and they said yes, it was deemed correctly handled. Yet they reviewed calls from XX/XX/XXXX. And all calls I requested to be reviewed at the start of the application process where back in mid XXXX, and they denied reviewing what I asked them to review. Im not having my finical reporting be jeopardized do to their negligence and in fairness absolute disregard and disrespect towards their customers well being. Attached Loss Mitigation timeline, and credit reports. Disputes have been made numerous times with all credit bureaus. But The Money Source just tells them the information is correct.
01/21/2021 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • CA
  • 93552
Web
On XX/XX/XXXX, thankfully I listened to my inner voice who said call TMS and confirm your 3-month COVID-19 extension until XX/XX/XXXX. So, I called, and I spoke to representative XXXX XXXX To my total shock and horror, the 3-month extension I had requested on XX/XX/XXXX @ XXXX had not been completed and processed. XXXX XXXX had to put me back into the forbearance plan for the extended period of three months which I had requested on XX/XX/XXXX and assured me that my loan and credit report would not be negatively impacted. By the way, my assigned Ally is XXXX XXXX but I have only spoken to her once as she is always unavailable. Again, to my horror I received a certified letter of default from TMS dated XX/XX/XXXX. I immediately called TMS and spoke to Ally, XXXX XXXX, who stated that due to system error, although the questions and answers were submitted correctly by XXXX XXXX. on XX/XX/XXXX, my request was not completed and TMS system automatically removed me from forbearance plan thus generating a default letter. XXXX XXXX requested a COVID error request to review the late fee that was generated due to this system error and to correct my credit rating if impacted negatively. XXXX XXXX promised to call me on Friday, XX/XX/XXXX to confirm all updates have been made. XXXX XXXX also submitted a request for my extension confirmation letter to be emailed to me as I have not received it as of yet. She also stated confidently that I can disregard the default letter dated XX/XX/XXXX. Unfortunately, I dont feel any such confidence after this petrifying ordeal.
11/30/2018 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • CO
  • 80601
Web Older American, Servicemember
My home was damaged by a hail loss on XX/XX/2018. XXXX insurance promptly handled damage appraisal and issued a check for the amount of {$19000.00}. The check was endorsed by my wife and I, and The Money Source ( TMS - the Mortgage Company involved ) co-endorsed and released the check to XXXX XXXX XXXX XXXX ( the contractor installing the new roof and guttering, and completing the other repairs required ). There were additional repairs and costs that required a supplemental claim settlement and on XX/XX/18 XXXX issued the final check in the amount of {$2300.00}. My wife and I endorsed the check and forwarded it to TMS as we had before. It was at this point I started receiving notices form a company calling themselves " XXXX '' requesting additional documentation. I tried to log into their website on several computers utilizing both XXXX XXXX and XXXX XXXX utilizing XXXX XXXX, XXXX, XXXX XXXX, and XXXX XXXX. Both operating systems and all browsers returned the same message - " Hmmm, we are having trouble finding that site '' or " Server not found ''. When I called TMS Insurance department - on several occasions - they requested one document after another, saying that XXXX was handling the check but their records showed that ( and each time it was a separate document ) was incomplete, signed in the wrong place, or some other excuse. I can't just pay XXXX, I wouldn't be reimbursed because the XXXX issued check was made out to me, the wife, TMS, and XXXX XXXX. The contractor wants their money, and this will end up in collections soon. if not resolved.
03/19/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Closing on a mortgage
  • MD
  • XXXXX
Web
Good day, I have called all parties several times concerning this issue with no resolution, and excuses to date. The money source my " old servicer '' did not provide me with a notice of servicing transfer not less than 15 days before the effective date of the transfer. ( 12 C.F.R. 1024.33 ). As a result of this late notice of loan transfer on XX/XX/XXXX by electronic means and XX/XX/XXXX via a written correspondence that my new servicer would be XXXX on XX/XX/XXXX my refinance payment went to TMS as I had closed. TMS initially notes they could not find the funds, and I had to reach out to title company to find. I was able to obtain a receipt of better sending money to title company and title company sending out full payment with wire transaction # to previous servicer TMS on XXXX. TMS notes that had to due a review and finally said they found funds on XX/XX/XXXX and that full payment was sent to XXXX on XX/XX/XXXX. I reached out to XXXX on several occasion and they note they have not received funds and requested a wire #. I contacted TMS for over 12 times and have been unable or unwilling to provide wire # and states that it is under review. In the mean Time I have Debt collectors calling me from XXXX saying that I have not paid my mortgage when I shouldn't even have an account with them. TMS has said they would call me back several times to rectify this issue, and has not reached back out to me. Any assistance that you can provide with tis matter as somehow over {$360000.00} is missing and I have two mortgage payment on 1 property. Thanks, XXXX
12/31/2019 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • CA
  • XXXXX
Web Older American, Servicemember
I have a VA Loan serviced by The Money Source. I have had the loan for 2 1/2 years with my first payment of {$1700.00} beginning XX/XX/XXXX. It was actually a little less, but I rounded it up to {$1700.00} for my XXXX XXXX. It went fine until XX/XX/XXXX where I was told I had a shortage to pay or my mortgage would go up. I paid {$1200.00} on that date and thought all was well. I mailed in my normal {$1700.00} on XX/XX/XXXX but got a notification that I was XXXX short as my mortgage had gone up. I complained but started to make my new payments of {$1700.00} starting XX/XX/XXXX. This went along fine until this past XX/XX/XXXX when I was told there is another shortage. XX/XX/XXXX I paid more than the shortage to an even {$1000.00}. Thinking all was fine I kept making my $ XXXX monthly payments. Then I happened to read my XX/XX/XXXX statement where the new payment is now {$1800.00}. I have called TMS several times to complain but have not gotten any satisfaction. Someone did finally call back but said that even with my paying the shortages, my new payment will still go up. I said that did not make any sense. I should have been offered the opportunity to pay the complete shortage to keep my mortgage the same. He then said if I mail in the same {$1700.00}, I will be in default/late, even though the VA loan is only {$1100.00}. The rest is for the impound account for tax and insurance. I then told him to send me a bill, another shortage statement to bring my payments back to what the have been and he said he could not do that. This is not Customer Service.
11/30/2021 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • GA
  • 30519
Web
Account number XXXX I fell behind on my payments and began making a little extra each month. In XX/XX/ 2021 my statement showed I has XXXX in my unapplied funds account. I sold my home on XX/XX/2021 and was told I would receive a refund of my escrow balance and the amount in my unappreciative funds account. I did receive the escrow refund, which I can match to the dollar via the statement. I have not received the money from the unapplied funds account. If you follow payments made into and out of the escrow account you can see that payments in matched my actual monthly mortgage payments and does not include the extra XXXX that I was paying over the actual payment go XXXX that was due. I have made XXXX calls tying to resolve this issue and each time was told a different explanation. The last person flat out lied to me about how long the money stays in the unapplied funds account ( no more than XXXX hours and then it is mired to the escrow account ) and when I called her out on the incorrect explanation she became defensive. Photos of the statements will proved money in the unapplied funds account stays there each month. I have had nothing but issues with The Money Source throughout my entire loan history and even had to file a complaint about them several years ago because of an error involving the escrow account, Since the explanations as to where my XXXX is can not proved via account statements nor the escrow history The Money Source provided to me when they sent my refund, I expect the Money Source to immediately provide me with a refund of XXXX.
12/30/2021 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • CA
  • 95823
Web
At the beginning of XX/XX/XXXX I received my statement and notice that a home owners insurance payment was made to a company I was not familiar with. On XXXX I spoke with representative XXXX he did not provide me what I wanted so I requested the supervisor, he said one would call me back. I received a call back there was a voicemail message but no name of the supervisor and the call back number was automated. I called back XXXX spoke with representative who stated a supervisor would call me back i a couple days. I never received a call back. I wrote XXXX ( the money source ) an email regarding the payment to the company. During my original conversation with XXXX XXXX was discovered that XXXX did not pay my XXXX insurance and decided to pay it about a year later and they did not notify my had no insurance. I requested the monies be returned to my escrow account as my insurance company that I always use, does not go retro. To no avail were they willing to refund my account but did send me information that my mortgage would be going up and I know it was due to them paying the money to the insurance company which made the escrow account short. In beginning XXXX I mailed a letter to their escalation department received a call with no resolution. I have received notification about my XXXX insurance not having it but did not receive notification of XXXX. I am requesting a refund of the {$1700.00} that was deducted from my escrow account due to their oversight of not informing me nor paying the insurance which is their responsibility due to the contract.
08/17/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • NM
  • 87114
Web
Today on XX/XX/22 mortgage servicer The Money Source provided me with a " goodbye letter '' notifying me that they will transfer servicing of my loan effective XX/XX/22. This is in violation of my rights under regulation 1024.33 Mortgage servicing transfers, in which a mortgage services is to provide me with 15 days notice about the transfer of servicing. XX/XX/22 is only 10 days from today, not 15, and I am afraid that I will not have enough time to set up payments with the new loan servicer prior to when my payment is due, XX/XX/22. In fact, The Money Source did not provide me with the goodbye letter at all, except that I had called their customer service line regarding an unrelated matter and they informed me that they could not help me due to transferring the servicing of my loan, when I asked for the information of who they were transferring to, they said to " XXXX it, '' and only after I called back 3 separate times to speak to a supervisor would they even send me the official " goodbye '' letter with the information of the new loan servicer. Regardless, The Money Source is still violating my rights in not providing me with the information of my new loan services 15 days in advance, as required under federal law. This violation of my rights is harming me as it causes undue stress and jeopardizes my ability to make on time payments for my mortgage, due to not having the information of the new mortgage loan services to make payments to. The Money Source should not be allowed to operate outside of federal laws and regulations.
03/15/2023 Yes
  • Mortgage
  • Conventional home mortgage
  • Struggling to pay mortgage
  • NY
  • 11572
Web
Please be advised that I recently filed a complaint under this case # XXXX, however, since I filed that complaint there has been additional correspondence with XXXX ( XXXX XX/XX/XXXX XXXX ) that I deem to be unsatisfactory and quite honestly another stalling tactic. I reached out to XXXX for mortgage assistance back on XX/XX/2022 and for the last 3 months it has been nothing but games and zero transparency. I called them yesterday to make a payment and they asked me if I am accepting the " trial payment '' that they are offering, a great deal of pressure on the phone whether or not I was accepting the terms. I never received the letter in regards to the hardship forbearance therefore they emailed it to me yesterday and it is quite disturbing. Instead of lowering the payment to assist they increased the payment by {$600.00} which results in a new payment of {$5200.00}, If I cant afford to currently pay {$4600.00} why would they suggest to increase the payment. I called them back after reading the email containing the letter and questioned why the payment would increase and not decrease and they referenced that the " escrow '' increased which is not accurate as my mortgage recently decreased by {$100.00} due to changes in the escrow. I requested that they send me this information via letter/email and they stated that this was internal information and that they could not disclose this information to me. It appears to me that the intent is malicious, unethical and that they are trying to force homeowners into foreclosure
02/08/2023 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • GA
  • 30102
Web
The Money Source Mortgage Company is my mortgage provider. I applied for mortgage assistance XXXX, XXXX. Today XX/XX/XXXX they still have not processed my application and are now saying i need to submit a new application. I applied for mortgage assistance because I was going to be off of work for an extended period of time XX/XX/XXXX, XXXX XXXX XXXX. I needed time off because of burnout from working as a XXXX during XXXX. I originally had a start date of XXXX XXXX that was a verbal agreement. I was informed before XXXX that they no longer had any positions open. I went through my agency to find a new position, but onboarding for XXXX takes a long time and I havent started my new position yet. I get several calls a week from the mortgage servicer to tell me that they have my application but it will still be another 30-45 days to process. This has been going on for 2 months. Today, someone named XXXX called and said they need verification of my income to process the application, when its been made clear from the initial application and further letters of explanation that I currently do not have an income. Each month its stating Im missing a payment and ruining my credit score. I cant lose my house because if I do I will lose any ability to house my child. I feel like Im being strung along by jthem so that I do eventually lose my house. Im currently trying to sell my house so that I dont lose it, but I dont want to sell my house. Ive put so much work and money into it and Ill get next to nothing if I sell.
01/10/2023 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • TX
  • 76244
Web Servicemember
To whom it may concern, On XX/XX/XXXX I called the Money Source to make a payment. The representative took the payment info and stated it had been processed. On XXXX the XXXX, XXXX, I noticed the payment had not gone through. I called the Money Source again, another representative indicated she could see the call and the notes indicated there was a payment made, but a manager would have to review the call. She stated the manager would try to do it usually takes 24 to 48 hours for a call review, but the manager would try to di it in 24 hours. On XX/XX/XXXX, I had yet to receive a call, almost 72 business hours later. I explained the situation to another representative, she then put me on an extended hold, after which she was able to process the payment. But, she alluded to the payment having been made in XXXX and that I was now in some new classification with a new set of rules. I asked to speak to a manger, and eventually a gentleman by the name of XXXX came on. He acknowledged the error, but stated there was no way for them to fix the problem the Money Source created and show that the payment was made on XX/XX/XXXX. I have a feeling XXXX was not a manager, but nonetheless, The Money Source should be able to resolve the issue and reflect the true date the payment was made on XXXX the XXXX. Though, it does worry me that if this error was so easy to make, how often is it happening to other individuals? I could use your assistance in getting the Money Source to fix their mistake. Thank you, XXXX XXXX
05/13/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • TX
  • 76123
Web
In multiple instances over the past months, I've contacted " The Money Source '' about our existing mortgage, in regards to removing PMI or Private Mortgage Insurance. Given the values, and appraisals rising on comparable home sales, I would like to see my PMI removed from the loan, since we will be below 80 % LTV now, with our outstanding balance being below XXXX XXXX They told me that once I paid an evaluation/appraisal fee of XXXX dollars, they would do their work to ensure the property reaches the threshold needed ( {$270.00}, xxx ) given our remaining balance, to reach 80 % Loan to Value. These fund have been paid for this purpose by myself and my wife. I've been told on several occasions that the work has been completed and the PMI is in process of removing. Since those instances, I was contacted and told that they are awaiting me to give further documentation of " upgrades to the property '', ( which is not needed, and they've also given contradictory stories on this ). This may be something THEY would like to see, but is not required. After speaking with someone in a supervisory role, they said that they do not work in the department that sends out the appraiser/evaluator that does the valuation, but that they would contact me to schedule this. I have not yet been contacted for this purpose, or at all. I feel like I am getting passed around and getting the 'run-around '. Once a consumer request removal and the loan reaches 80 % Loan to Value, it must be removed per RESPA/various other acts.
03/16/2021 Yes
  • Mortgage
  • VA mortgage
  • Struggling to pay mortgage
  • CA
  • 95829
Web Servicemember
I am in Covid forbearance but need help with my mortgage payments. The Money Source is claiming I have to pay the forbearance amount of {$12000.00} all at once and they are not able tack forbearance on the back-end of the loan like many mortgages companies are allowing during this pandemic. On XX/XX/2021 XXXX XXXX said I need to resume making payment and then file for a VA disaster modification. I called on XX/XX/XXXX ready to make a payment and apply for the VA disaster modification and she said I did not qualify. I am elderly with a XXXX XXXX and on a fixed income with rising expenses such as medical expenses, food, gas, utilities and taxes. My husband just lost his four XX/XX/XXXXdo to an XXXX and I now have to have thoseXX/XX/XXXX. This is just one example of our many problems right now. Not being able to get our mortgaged situation resolved during the Covid pandemic is causing me unnecessary stress. My mortgage interest is 4.85 % and with the new lower available rates which are under 3 %, I should be able to either 1 ) modify my loan to make the monthly mortgage affordable or 2 ) tack the forbearance on to the end of the loan like numerous mortgage companies are authorizing. I can complete the paperwork but because The Money Source stated I do not qualify verbally for a VA disaster modification, I am concerned we will lose our home. I am not sure why The Money Source is not offering simple programs like many of my friends and family in this same predicament with financial difficulties due to Covid19.
12/27/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 90038
Web
On XX/XX/XXXX, XXXX acknowledged misrecording payoff payment from my refinance lender - XXXX received funds on XX/XX/XXXX but recorded their receipt date as XX/XX/XXXX, which further resulted in charging me late fee {$270.00}. Further, they promised : XXXX ) overpayment owed {$9600.00} has already been mailed, XX/XX/XXXX. XXXX ) late fees were reversed and {$270.00} mailed out. XX/XX/XXXX XXXX post XXXX delivery, I have not received the balance of payoff - {$9600.00}. XXXX charged consumer for their mistake and is holding funds due to lender for {$9600.00} with no evidence of making timely practices : XXXX operator XXXX XXXX ( supervisor ) reported on XX/XX/XXXX that XXXX would only stop payment and reissue a check to mail, taking another 14 days for the check to be mailed. When consumers are late to payoff or monthly payments we are charged hefty late fees {$270.00} and charged {$100.00} per day for interest. XXXX violated RESPA. XXXX failed to ensure {$9600.00} principal payment to be received with 20 days of loan closing, XX/XX/XXXX. Today is 59 days post closing and payoff. I have received notice of Title release and refund of late payment, but still no payment due, {$9600.00}. I have spent XXXX hrs writing complaints, on hold with TMS XXXX, answering TMS calls who continue to provide no actionable accountability. Why are consumers charged hefty fees and their is no accountability on part of XXXX to comply with the RESPA, even when they acknowledge knowing by citing this law by the HUD.
01/11/2023 Yes
  • Credit reporting, credit repair services, or other personal consumer reports
  • Credit reporting
  • Incorrect information on your report
  • Account status incorrect
  • CA
  • 94509
Web Older American, Servicemember
On XX/XX/2022, my XXXX XXXX XXXX account was compromised. The majority of my bills are paid from this account via autopay and have been for years. I went in the same day and closed the compromised account and opened a new one. I then contacted all my payees and submitted the new account information. Everything went as planned until XXXX. I received a notification from The Money Source ( my mortgage company ) stating that my bank declined payment. I gave The Money Source the new account # and explained that I've been on autopay with them since opening my account with them. Also that they had received 2 payments already from the new account, so how did a different # suddenly get associated with my bank. Things seem to go back to normal so I thought. I XXXX XXXX, I got another notification from the Money Source stating the payment was declined by XXXX. I then called XXXX and did a 3 way telephone call to The Money Source.. The XXXX agent told the Money Source agent that the issue was on their end by inputting the old account #. We don't understand how that could happen when The Money Source had been receiving payment with the new account number then arbitrarily began using the old number. This caused a hit on my credit report for a late payment in XXXX. I have had perfect credit for more than 5 years, this set me back into fair status. I have contacted The Money Source via phone and email, my attorney even wrote a letter. They will not take accountability for their mistake and I am paying for it.
08/23/2022 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • GA
  • 30253
Web
The Money Source ( TMS ) is intentionally misapplied mortgage payments during my XXXX XXXX bankruptcy. I am only due for the current month of XXXX, and just completed a XXXX XXXX XXXX bankruptcy last month. TMS collected {$6800.00} for arrears through the XXXX XXXX plan ; however that amount was almost {$2000.00} more than the amount that should have been collected. The post petition arrears were only XXXX plus {$650.00} in fees totaling {$4800.00}. Where is the other {$1900.00} ( {$6800.00} - {$4800.00} ) collected through the XXXX XXXXXXXX trustee? Also, XXXX XXXX XXXX XXXX XXXX ( attorneys representing The Money Source ) filed and withdrew their motion to collect after I submitted documentation showing every payment and that I have not missed a payment since filing for bankruptcy in XXXX. TMS 's attorneys apologized for the mix up, withdrew their complaint, and promised to update their records which they never did ... Also, I filed a previous complaint for a mortgage payment that was misapplied last XXXX or XXXX of XXXX. TMS requires me to speak directly to their bankruptcy department, and that department stated TMS misapplied the payment making it appear I skipped a mortgage payment. I have been trying to get all of these issues resolved since XX/XX/XXXX. Over the past few weeks I have repeatedly contacted TMS for assistance in getting the records updated and each time I am told the ticket will be escalated and someone would call me back, but I never get a call back. Please help...
02/23/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • MN
  • 55128
Web Older American
This is a follow up to Complaint # XXXX. We have spent seven months trying to convince The Money Source ( XXXX ) that we had, in fact, paid our mortgage payments in a timely manner and were not delinquent at any time. We provided records of electronic payments and copies of checks showing payments. We spoke with XXXX customer service personnel on a weekly basis. Four of them stated they saw what the problem, and each assured us the matter would be taken care of. This went on until XXXX when XXXX finally acknowledged that they had credited our first payment to XX/XX/XXXX. They did not own the mortgage until XXXX of XXXX ; which we had told them repeatedly. Their fix entailed a four-day span of erasing the existing data and reentering the data so our account appeared to have been paid to date on XXXX XXXX. We retain the actual payment documents. We learned in XXXX that on XX/XX/XXXX XXXX had reported us as being " 30 Days Past Due Date '' to XXXX. This was brought to our attention by a mortgage banker who we are using to purchase another property. This information has not only been used by the mortgage bank, but has also been picked up by our credit union. We have asked XXXX for a written statement signed by an officer that the loan is not and has not been in arrears ; and that the false information be removed from any and all credit reporting agencies. Again, repeated calls, repeated assurances that it would be taken care of, and no letter. XXXX has stopped returning my calls.
08/31/2022 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • LA
  • 70517
Web
The money source took over our mortgage account from XXXX. Right before the transition we were in Covid 19 forbearance with XXXX, had submitted and was approved for a loan modification When the money source took over our account they made all kind of claims, claiming they never received the paperwork from XXXX with modification details etc, I then reached out to XXXX and got copies and provided to the money source, also XXXX assured me XXXX received all of it. XXXX then stated they couldnt accept the paperwork from us, gave us massive run arounds saying we were delinquent and would need to do a new loss mitigation with them. This caused us to incur more fees etc due to more time lapsed being in forbearance etc On top of all this we later sold that house to find out that XXXX not only approved the modification but also filed a partial claim with the county court house We were able to clear off the XXXX pa rtial claim with HUD and the county but still to this day are trying to clear off the XXXX one and get our proceeds from the sale of the house, now going on 5 months. Reason for that holdup is XXXX filed hud partial claim with our county but never with HUD so HUD cant see it, XXXX wont remove it after dozens of phone calls and emails as they are stating they filed a proper partial claim that XXXX has to abide by but didnt It is my understanding that a new loan servicing company has to uphold to any loan modification agreement and it is against the law to not do so
06/22/2021 Yes
  • Credit reporting, credit repair services, or other personal consumer reports
  • Credit reporting
  • Incorrect information on your report
  • Account information incorrect
  • CO
  • 80207
Web
The Money Source became our new lender after processing through XXXX. On XX/XX/XXXX ( we received XX/XX/XXXX ), we received a Goodbye Letter with XXXX and The Money Source sharing the letter head indicating that XXXX XXXX XXXX purchased our newly refinanced mortgage from The Money Source ( XXXX ). XXXX, in the Goodbye Letter, did not accurate indicate our new mortgage account number and also inaccurately represented the due date of the new mortgage with our new mortgage company. I had to research the correct number with XXXX and ensure that our first payment with them was on time. During this process, The Money Source AND XXXX XXXX XXXX BOTH reported an active mortgage to XXXX, XXXX, and XXXX. We have ( my husband XXXX XXXX XXXX and I, XXXX XXXX XXXX ), in effect, a gross discrepancy, an egregious financial reporting error, of {$220000.00} in a mortgage which no longer exists, and a monthly payment which no longer exists. XXXX XXXX XXXX closed on the sale of our mortgage FROM The Money Source on XX/XX/2021. Today is XX/XX/2021. After filing disputes with all three credit reporting agencies, today we STILL have duplicate trade lines, and The Money Source, after at least 5 emails and phone calls, HAS NOT CORRECTED the mistake. I'm a small business which needs a lines of credit and working capital. My credit rating plunged 100 points because of this error. It has partially but not wholly recovered. It was WELL OVER XXXX points ; it remains from XXXX to XXXX. Unacceptable.
04/28/2022 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • LA
  • 706XX
Web
We never receive notice that our Escrow was short and we never receive refund checks. They hold our money all the time. When i make payments and Im short they put them in unapplied funds which is fine but they use the unapplied funds to pay for late fees or corporate advances instead of moving the money into paid. So bc they take the money out for late fees I can never catch up on my payments and im constantly having late fees. I feel like im sending them money all the time but i am never paid up. They started a foreclosure in early XXXX when they said we were 120 days late. We were not 120 days late, I send 2 payments in the mail bc they have it blocked so i cant pay on the website. Those two payments were held and not credited so they could start the foreclosure proceedings now those payments have disappeared. Mortgage company says they returned it, bank says they cashed it. We are now in forbearance and have to pay all these lawyers fees which i wouldnt have to pay if they would of put the unapplied payments where they were suppose to go when i paid them. XXXX XXXX & XXXX mortgage statements Escrow XXXX then it drops to XXXX i dont see where the money went XXXX XX/XX/2021 when i made a payment and they put it in unapplied funds and i told them to move it over and it wasnt shown as being moved on my XXXX statement as paid. they can move money out of my escrow to pay other things but not to cover what im short. since they didnt send me my escrow refund.
02/11/2016 Yes
  • Mortgage
  • FHA mortgage
  • Credit decision / Underwriting
  • CA
  • 94610
Web
My husband and I were approved for a mortgage with Endeavor America, almost a month later the lender changed the terms and established a deadline which stated we needed to close by XXXX XXXX. Endeavor never notified my broker, agent or myself in writing or verbally of this new deadline. My team pushed to get the loan closed by XXXX XXXX for other reasons but was told by the lender that they did n't have anyone in the office who could complete our loan because everyone was on vacation or was busy working other files causing us to miss their newly imposed deadline they never told us about. Sometime in XXXX we received a call from the Endeavor underwriter, during that call she explained that they ( Endeavor ) made a mistake by not notifying my broker and agent and that they were sorry for the inconvenience. She also stated that my broker and agent was completely unaware of the newly imposed deadline because she had somehow missed putting the notification on the approval and never sent the new terms. In XXXX my broker spoke with an Endeavor representative about another file and was informed that " they do n't do that type of loan any longer '' so my broker asked " what about my XXXX file '' and the representative told him everything was fine. Shortly after we were notified of the cancelation. They then told us they would only make the loan if we gave them an additional XXXX XXXX XXXX dollars when our original down payment was around XXXX XXXX dollars.
02/10/2021 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • TX
  • 76108
Web
I closed on my first home XXXX. My payments were set at approximately XXXXmonth. This was with escrow, interest, taxes etc. In XXXX of XXXX The Money Source sent me a letter informing me there was a surplus in my escrow account and they would be fixing this moving forward lowering my monthly payment amount. Within the past week I received a letter stating my escrow account is under funded by approx {$6800.00}. I called to find out the issue and was informed the money source believed I would only pay XXXX/yr in taxes since that is what was paid on the home for XXXX. The only reason that was the amount paid of the home in XXXX to XXXX County was because the previous owner was a XXXX veteran. This was known and calculated upon closing. We even got a appraisal from the county tax clerk before closing to find out what taxes on the property would be moving forward hence why in closing my mortgage was set at approx XXXX/month. The money source changed the agreement without having ever asked any questions about such a large discrepancy. They now was me to pay {$6800.00} within 60 days to bring my monthly mortgage back to where is was supposed to be originally. They provided other options like making half of the sum and my monthly payment would be XXXX/month. The customer support personnel agree this is a massive oversight on their part but ultimately decided its not their fault and they don't see any other options than the ones they gave in the letter.
12/06/2017 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • CA
  • 93727
Web
Borrower : XXXX XXXX, Property : XXXX XXXX XXXX XXXX, CA, XXXX. Loan number : XXXX On early XX/XX/XXXX, writer requested via phone requesting cancellation of private mortgage insurance ( PMI ). By XX/XX/XXXX, The Money Source ( TMS ) sent a letter regarding the conditions to be met before PMI can be cancelled. I opted to go for request based on Original Value. I sent a {$200.00} dollar cheque for Broker Price Opinion. Nothing happened. On XX/XX/XXXX writer made a call to customer service ( talked to XXXX -supervisor ) made a follow up on my PMI cancellation application. XXXX said they will escalate my inquiry. XX/XX/XXXX, writer called customer service department regarding third party appraiser did not come in. Representative said " I ca n't do anything ''. On XX/XX/XXXX, a third party company came to the property to take pictures. On XX/XX/XXXX, writer made a follow up on PMI cancellation application and the representative said " I will escalate that inquiry to my supervisor. You should be receiving a letter after 30 days after the 3rd party appraiser visited your property ''. On XX/XX/XXXX, writer made a follow-up and said " I will escalate your request ''. Nothing happened. Frustrated. I know I will qualify for PMI cancellation based on Original value because my LTV ratio is below 80 percent and I am up to date on my monthly payments. I need your help to expedite my request as TMS is using a delaying tactic. Thanks a lot.
09/21/2016 Yes
  • Mortgage
  • FHA mortgage
  • Loan modification,collection,foreclosure
  • NJ
  • 07206
Web
In XX/XX/XXXX I bought a house. I do not speak English ( someone is helping me right now ). The house needed work but I was told by seller and the person working with the seller that it will be finished. However I was guaranteed that the certificate of occupancy was fine and they will finish while I lived there. The seller bought the house in XX/XX/XXXX for {$48000.00}, and sold it to me one year later for {$300000.00}. There was no realtor, and no attorney. The person working with the seller was XXXX XXXX. He plead guilty of a XXXX mortgage fraud in XX/XX/XXXX. He filled all my mortgage documents, he also applied for my loan. I have a video recording of me speaking with him, as well as an online chat in XXXX regarding my mortgage. He guide me through the whole process and I thought he was helping me. At the end it was a scam and the house was unlivable. The appraisal was never done. I have requested a copy and the lender can not find it. I am sure that the seller and XXXX XXXX made it all up with help with the lender. It took me 3 months to fix the house and get permits to be allowed to live there by the city. I had to take loans for {$15000.00} to pay as well as paying my rent. I was unable to pay my mortgage. Now I am in foreclosure. I can pay my mortgage, but the lender will not let me apply for a modification. I was taken advantage off. I want to stay in the house. I can pay my loan. All I need a fair chance for a modification.
08/15/2019 Yes
  • Debt collection
  • Mortgage debt
  • Took or threatened to take negative or legal action
  • Seized or attempted to seize your property
  • FL
  • 33624
Web Older American
DATE : XX/XX/XXXX TO : THE CONSUMER FINANCE BUREAU FROM : XXXX XXXX XXXX XXXX FLORIDA / XXXX XXXX XXXX XXXX XXXX RE : XXXX XXXX XXXX XXXX XXXX XXXX AIR Duct removal and installation Job XXXX XX/XX/XXXX PLEASE HELP PLEASE HELP PLEASE HELP PLEASE HELP 1 - XXXX XXXX XXXX of XXXX said that my moms air conditioning needed new Air Ducts XX/XX/XXXX 2 - Mom is XXXX years old - Gets XXXX a month from Social Security Benefits All that she has 3- Estimate was XXXX 4- Mom could not get financing on her own She did not consult an attorney nor let me know. 5- XXXX suggested the XXXX program, a government program for home maintenance loans 6- She was approved by XXXX who did not qualify my mom for the loan or give details on payments or give her a copy of the contract by mail. They said she would be billed through her tax bill the following year XXXX. 7- Ducts were installed 8- Tax Bill came in XXXX that specified her normal taxes of {$500.00} plus the loan fee of {$1600.00} due. 9- She could not pay the additional fee on the bill. 10- Speaking to XXXX she told them she could not pay this bill 11- They said she may have to sell her house 12- XXXX also forwarded a negative balance of {$1600.00} to my moms reverse mortgage account with ( The Money Store ACCOUNT XXXX ) 13- I helped her file for bankruptcy six months ago through Upright Law but their attorney would not help. Please Help - Yours truly, XXXX XXXX XX/XX/XXXX XXXX XXXX XX/XX/XXXX
06/24/2022 Yes
  • Mortgage
  • FHA mortgage
  • Struggling to pay mortgage
  • MD
  • 20874
Web
Applied for a short sale with The Money Source - servicer for the FHA loan. There is a partial claim as well that was part of a loan mod before XXXX took over the loan. XXXX has no clue how to service an FHA loan and closed out my review even though I have an offer at the appraised value because they did not include the partial claim in their calculation. I requested an appeal through my online portal and it has been over 2 weeks and the appeal is not open because they are saying the email had to go somewhere else. My attorney also sent in documentation that they are incorrectly servicing the FHA loan and they claim they did not receive it, even though counsel has a confirmation email that it was received. Called in on XX/XX/XXXX to check on the appeal and was told it had not been submitted. XXXX, the XXXX for the account said she would get it submitted. Called in on XX/XX/XXXX to check on the status of the appeal- was told it is a closed file, no appeal ever received. Not sure how that jives with the XX/XX/XXXX call when XXXX could see it, but now they cant. The Money source will not take responsibility for not reviewing the file correctly and instead putting the blame on their borrower. there is an attorney on this case, the attorney sent in the documents on XXXX, but they will not open the appeal because the borrower sent an email in the secure portal and not to the generic " lossmitgation '' email. This is ridiculous.
12/08/2020 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • NY
  • 11226
Web
In XXXX, I bought a property. Due to financial hardships and lack of support and guidance, I could not pay the mortgage that I secured. I tried many options to try to attempt negotiations with the mortgagor to no avail. The company filed for bankrupcy. I hired an attorney to halt the foreclosure. In XX/XX/XXXX, I met someone who said that he would negotiate with the bank on my behalf. He made us sign over the deed to him for {$10000.00} each in good faith until he negotiates with the bank. He made us sign a slew of papers transfering the deed to him in order for him to negotiate on our behalf. He never made such negotiations. He instead kept the deed, registered the property and filed for bankruptcy. He registered the deed of the property under an LLC and then filed bankruptcy. The deed is in his name while the mortgage remained on my name. I never sold him the property. He specifically told me that he would be negotiating with the bank on my behalf. I need help in investigating who willfully stole the deed, filed for bankruptcy and left me with a hefty {$720000.00} mortgage while he retains the deed. I have tried many options. It is an abyss. I can not afford the mortgage.Jacquelin travels in and out of the country and is very difficult for him to send the slew of documents they ask. I don't think he wants to keep the property either. These fraudsters have a team of well connected lawyers who negotiate on their behalf.
03/14/2019 Yes
  • Checking or savings account
  • Checking account
  • Managing an account
  • Problem making or receiving payments
  • AZ
  • 863XX
Web Older American, Servicemember
ON XX/XX/2019 I made some bill pays on line with XXXX XXXX online banking 1 payment was made to The Money Source for XX/XX/XXXX payment. But by error XXXX XXXX made two payment checks and were sent. I have been trying to get a refund from The Money Source for 11 day 's. Customer service wanted a proof of payment i down loaded it and emailed it to them, after they received it and a few days pasted. With no response I called customer service had done nothing at all and then said they needed a copy of my bank statement showing the transaction. I went to my local XXXX XXXX branch bank and had them fax a copy of the transaction to XXXX on XX/XX/2019. In speaking to a customer care person at XXXX I was told they would overnight a check. I made a call today XX/XX/2019 to see why no one returned my call and was told it had not been approved as yet. I asked why? I was told they didn't know. XXXX needs to get there head out of there XXXX 's and send my check ASAP. Answer no one know 's. but they would send a check and it would take 2 to 10 days to receive. Say what!! I am XXXX years old and on a fixed income and have bills to pay and need it now, I will be charged late charges on my bill 's and harm my credit score. I was told they needed to listen to the recording to see if they had been offered overnight as of now I'm waiting for that phone call.personal info on request. XXXX XXXX XXXX XXXX
10/13/2020 Yes
  • Debt collection
  • Mortgage debt
  • Written notification about debt
  • Didn't receive notice of right to dispute
  • WA
  • 98122
Web
20+ points impact on your credit score because their auto-payments system wont kick in! Poor customer service, promise theyll get back to you but dont. In no way they reached out for me to alert me about a late payment despite automatic payments being setup. * XX/XX/XXXX - closed refinance through better mortgage * XX/XX/XXXX - first statement sent, payment due date is stated to be XXXX * XX/XX/XXXX - I log into TMS website and set automatic payments {$500.00} more than whats required to occur every first of the month. Hoping Ill never need to worry about it again. XXXX XX/XX/XXXX - email from TMS that my billing statement is ready to view online * XXXX - credit reporting services register credit score dropped 120+ due to being 30 days late on mortgage * XXXX - Friday, I get notified about credit score drop and since its the weekend no one to talk to at TMS * XXXX - I make an online payment manually of all remaining balance. Automatic payment didnt kick in for either XXXX or XXXX. no attempt to contact me. * XXXX - I was able to get in touch with a TMS customer service. 20 mins on the phone. person in extension XXXX promises a supervisor will get back to me. no one gets beck to me * XXXX - I call in 49 minutes on various holds on the phone. Eventually get through to XXXX at extension XXXX, she promises this time they will really get back to me on XX/XX/XXXX morning. * XX/XX/XXXX - no one got back to me.
09/10/2022 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • TN
  • XXXXX
Web
XXXX - THE MONEY SOURCE wrote me a letter on XX/XX/22 saying that the insurance coverage they ordered on behalf of my property at XXXXXXXX XXXX XXXX XXXXXXXX XXXX CA. XXXX has been cancelled. They requested that my insurance agent provide proof of insurance. Then they followed up with another letter requesting me to provide proof of hazard insurance. Because my insurance was impounded with my mortgage. I contacted my insurance company - XXXX XXXX XXXX XXXX. Both of us got on the phone with XXXX. During the phone conversation, we found out that XXXX mistakenly sent the insurance payment for XXXX XXXX XXXX to the wrong property XXXX XXXX XXXX. As we were researching on this, we found another error that the previous payment was made to yet another wrong property- XXXX XXXX XXXX st. XXXX XXXX CA XXXX. At this point, the operator we were speaking to hung up. We couldn't figure out how this company carelessly picked up these other properties which belonged to me but was with other Lenders and was making insurance payments on them instead of the XXXX property they were supposed to make payment on. Later on I found out that instead of correcting their error they put the overage on me. I have called them and informed them to correct their error. Contact the lenders of the properties they mistakenly paid my insurance to by error and fix their mistake instead of trying to make me responsible for their mistake.
05/14/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • TX
  • 77407
Web
We requested forbearance on our property in XXXX of XXXX. In XXXX of XXXX, we completed the online form ( per mortgage servicer 's request ), to remove the forbearance and do a loan modification on the file. We were told to expect documents to sign off on within 30-45 days. Since then, we have called in at least 30-40 times ( 2-4 times per week ). We've requested an escalation of our file a half dozen times. We have spoken to dozens of supervisors, " customer allies '', etc trying to get them to move on this file, and we still have not made any progress. We are beyond upset and frustrated. The company keeps telling us that the file is in underwriting or with the attorney 's office. Sometimes they say the documents are being XXXX XXXX to us, and other times they say that the file has been escalated internally. It's been 7 months. They finally told us our documents were ready, and we'd get an email within 48 hours with them. It took 3 more calls and 8 days later before we received those documents ... that were dated for XX/XX/XXXX with a submission deadline of XX/XX/XXXX. We received these documents on XX/XX/XXXX. This is unacceptable! We don't know where to turn for help, but this company is holding this house hostage! We can not sell it. We can't refinance. We can't buy a new home. We are trapped under this pile of incompetent bureaucracy and need SOMEONE to PLEASE help us and do something about this.
11/16/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • IL
  • 607XX
Web
Hi, I have made extra payments so that I could knock down my Mortgage principal amount, but this mortgage company is posting the extra payments towards future monthly payments instead of applying them towards my principal. For example, the extra payment I made in XX/XX/XXXX, they are applying it to the mortgage payment for XX/XX/XXXX ( instead of applying it to my principal amount ). I called them to complaint about it, and asked them to apply my extra payments towards my principal instead of applying them to future monthly payments, they promised to fix it, but they did not fix it. In my opinion, they are illegally holding my money and making extra interest income from it instead of knocking down my mortgage principal amount. Here is how the payment history looks like : XXXX XXXX {$500.00} {$0.00} {$0.00} {$0.00} {$0.00} {$500.00} XXXX XXXX {$620.00} {$980.00} {$0.00} {$990.00} {$0.00} {$2600.00} XXXX XXXX {$900.00} {$0.00} {$0.00} {$0.00} {$0.00} {$900.00} XXXX XXXX {$500.00} {$0.00} {$0.00} {$0.00} {$0.00} {$500.00} XXXX XXXX {$620.00} {$990.00} {$0.00} {$990.00} {$0.00} {$2600.00} XXXX XXXX {$500.00} {$0.00} {$0.00} {$0.00} {$0.00} {$500.00} XXXX XXXX {$620.00} {$990.00} {$0.00} {$990.00} {$0.00} {$2600.00} XXXX XXXX {$610.00} {$990.00} {$0.00} {$990.00} {$0.00} {$2600.00} XXXX XXXX {$2000.00} {$0.00} {$0.00} {$0.00} {$0.00} {$2000.00} XXXX XXXX {$0.00} {$0.00} {$0.00} {$1400.00} {$0.00} {$1400.00}
10/07/2020 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • PA
  • 191XX
Web Servicemember
The Money Source has been overcharging me for my loan. Since XXXX of XXXX, I should have paid {$180.00} towards my yearly insurance, nothing more. I have been sending them my tax exemption documentation repeatedly. I have requested this from the company and now I am enlisting the Consumer Finance support. I would like an escrow analysis ran from XX/XX/XXXX because I have overpaid the following amounts : XXXX XXXX XXXX : {$100.00} Totaling : {$1200.00} XX/XX/XXXX : {$200.00} XX/XX/XXXX : {$300.00} XX/XX/XXXX : {$1000.00} XX/XX/XXXX : {$1100.00} XX/XX/XXXX : {$1100.00} XX/XX/XXXX : {$1100.00} XX/XX/XXXX : {$1000.00} Totaling : {$7200.00} As a XXXX XXXX veteran the handling of this loan has not only created a hardship but my family and friends have supported me and watch the disinformation and obscurity that I have been met with by their representatives. It is nothing short of criminal. I am requesting the return of the overpayments for this mortgage. I am requesting a written explanation and copy of the $ XXXX check sent from the City of XXXX and cashed by TMS . This is not reflected on either escrow analysis that the company sent me. Again, I am met with disinformation. I will be making several complaints and leaving this company upon the return of these funds. Lastly, I am requesting that ALL late fees documented for this account be removed. Respectfully yours, XXXX XXXX XXXX
01/26/2023 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • NY
  • 124XX
Web
XX/XX/XXXX company sent school tax payment to incorrect address ( clearly marked on letter address had changed XX/XX/XXXX payment returned to company XXXX issued escrow surplus check to me XX/XX/XXXX contacted company to inquire about payment, no correspondence ever received about missed payment XX/XX/XXXX I made/return payment to company to re-issue payment. Company to make payment by XX/XX/XXXX in order to not incur additional interest charges XX/XX/XXXX company withdrew funds to make payment XX/XX/XXXX funds returned. Advised by company that I would not be liable for any charges/late fees as they acknowledged wrongdoing XX/XX/XXXX company issued payment from escrow account + {$600.00} worth of late charges, fees due school XX/XX/XXXX company advised they would look into XX/XX/XXXX advised they will do escrow assessment as my account is deficient. Regarding incorrect payment of late fees, etc. from my account- under review and will be decided after assessment. All of this without any correspondence from the company that the school payment had been returned/not paid. Instead check sent to me as a " surplus ''. Company incorrectly report late payment in XX/XX/XXXX Applied for forbearance in XXXX, highly pressured to sign documents the day before mortgage rates dropped and covid related forbearance went into effect, Forcing my interest to increase and payments to increase.
12/24/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • SC
  • 29412
Web
For the past XXXX months, I have tried to resolve an accounting error with my mortgage lender, TMS ( The Money Source ), regarding my escrow account. They claim that my escrow count is in a grave shortage, but after accounting and reviewing statements, there is an error that they have refused to resolve. On XX/XX/2020 they erroneously made a payment to XXXX - XXXX for the amount of {$1000.00}. This amount was never returned to my escrow account. When they received my loan in XXXX, there was an initial Escrow amount of {$1500.00}. They dispersed a payment to XXXX, erroneously, and it has not returned to the account. The end of XXXX shows an amount of {$450.00}. They continue to claim that the amount was returned, but through all statements, in the past year, there is zero accounting for it. For reference, they said it was returned in the same month, but obviously, the final XXXX amount is significantly lower. I have called initially once a week, and am now calling them once a day in an attempt to resolve this. They ran fake escrow analysis that gave the same grave number, made me wait two weeks for it when it was supposed to take five business days due to their support error, and now they are saying the next one won't be complete until XX/XX/XXXX, one day after it would be a late payment for my mortgage. I also have no faith that they will magically resolve it then, too.
04/18/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • GA
  • 30040
Web
My loan was being handled by The Money Source ( https : //themoneysource.com/ ). In the month of XXXX ( XXXX XXXX, 2020 ), I paid {$10000.00} towards my principal repayment. The reduced principal should have applied from that day itself and I was supposed to pay lower monthly interest since the principal outstanding is reduced by {$10000.00}. The Money Source transferred to loan to XXXX XXXX somewhere in month of XXXX and my first payment due to XXXX XXXX was on XX/XX/2020. However they did not apply the {$10000.00} which I paid in month of XXXX. I paid my monthly mortgage to XXXX XXXX based on the original principal and thereby lost the monthly interest benefit. And till date my {$10000.00} has not been paid/sent to XXXX XXXX. I do not know why the company did not reduce my outstanding principal by {$10000.00} before transferring the loan to XXXX XXXX. I lost approximately 2 months of interest on the {$10000.00} amount. Repeated mails and phone calls to The Money Source seem to have no effect. I have sent them multiple emails on XX/XX/XXXX, XXXX XXXX, XXXX XXXX, XXXX XXXX. Also called them more than 10 times. This is a harassment and mental torture since none of their answers are satisfactory. This is a fraud and bad practice as the mortgage lender should apply the principal repayment from the day it was submitted. Please look into the matter. Thank you.
02/10/2017 Yes
  • Mortgage
  • FHA mortgage
  • Loan servicing, payments, escrow account
  • VT
  • 057XX
Web
The Money source my current mortgage holder is stating verbally via telephone ( XXXX ID # XXXX ) that they made XXXX tax payments One for {$1200.00} XX/XX/2016 which the town hall confirms and one for {$1300.00} XX/XX/2016 which the town hall states they have no record of. In spending approx. 3 hours on the phone with The Money Source being bounced around to locate the return check # for payout or proof of payout as the Town hall encouraged me to do, I had no resolve. I called the town hall on 3 way with XXXX on the line as she stated she was unable to reach them. The clerk XXXX at the town hall asked for a return check # to confirm/research payment. She was told they sent out payments in mass checks and she was unable to provide that info. I asked XXXX to transfer me to speak to a supervisor in which I was denied due to, they were unavailable because they were in a meeting. She then told me she could take my name and number and they could call me back within 24-48 business hours and that she would send out to the research dept. to find resolve. After approx. 3 hours on the phone, taking the day out of work to resolve the issue I am very upset that in speaking to 3 people at the Money Source no-one could provide me with proof of payment to the town hall in The amount of {$130000.00} telling me that it is available on my statement. That is not proof of payment!
05/16/2022 Yes
  • Mortgage
  • VA mortgage
  • Struggling to pay mortgage
  • IL
  • 60452
Web Older American, Servicemember
Due to a business closure in XX/XX/XXXX, my employment ended. Consequently, my XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX mortgage payments were delinquent. In XX/XX/XXXX, I was contacted by my lender, " The Money Source '' and I was asked if I was additionally impacted by the Covid19 virus and suggested I go on a forbearance plan. I was told that at the end of the forbearance agreement, my loan would be modified, and I would simply start making my payments again. With that understood, I agreed. At the end of the forbearance period, I was contacted once again and asked if I was able to start making my mortgage payments and I said yes. A month later, I was advised that the agreement was now denied, and it was necessary to submit a loan modification application for their approval. I was ready, willing and able to start making the necessary payments. I was misled into believing that the forebeance was to help my situation and now The Money Source has filed a foreclosure lawsuit. They Money Source did not fulfill its original agreement and now is caused unnecessary financial burden. I am in the process of applying for mortgage assistance through the Illinois XXXX XXXX XXXX, working through a certified XXXX XXXX XXXX locally. I would respectfully request that the lender live to its original agreement. I'm a XXXX and a Veteran. Your valued assistance is appreciated.
01/18/2023 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • GA
  • 30213
Web
The previous servicer ( XXXX XXXX & XXXX XXXX XXXX ) received a wire for {$49000.00} on XX/XX/XXXX. My loan was transferred to another company on XX/XX/XXXX, the funds did not transfer with the loan. I have bee trying to get XXXX to send the funds to the new company for almost 2 months now. I called the XXXX today, XX/XX/XXXX, now they are telling me they still have not wired the funds when multiple managers assure the funds had already been sent to new company. ( stated they wired your company the {$49000.00} that was received by them. Below is the bogus wire info from there XXXX XXXX # XXXX confirmation # XXXX I need these funds posted to my loan. None of my funds need to be applied the inspection and FC fees, its not valid and you all and the previous company are investigating. The funds will bring my loan current plus payment for 3 future months, use funds to cover my escrow shortage, then place remaining funds in unapplied. In additional, XXXX has legal fees and inspection fees when I was on the COVID-FB, then tried to get mod sent with updated dates. I was protected by the Cares Act, there is no reason my loan should have gone into foreclosure, I kept constant contact. I keep getting the run around. You all need to do your job and reach out to XXXX. You both have me playing the middle guy when yall need to communicate. WHERE IS THE {$49000.00}?!?
11/08/2021 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • PA
  • 185XX
Web
Ive contacted The Money Source and reported issues multiple times regarding escrow being placed on my account when my closing documents clearly indicate that my mortgage does not include escrow. Ive spoken to many representatives, managers on both the mortgage and insurance side and this issue is still not resolved. An overpayment in the amount of {$880.00} was made last month to partially cover insurance amounts totaling {$1700.00} that were paid out without my or my husbands permission. Now I received another statement saying my escrow account is short {$1500.00}. The remainder of the {$1700.00} ( that was paid without permission ) after paying the {$880.00} last month, would be {$890.00}. TMS needs to be cited for unfair business practices and this issue needs to be immediately resolved. Ive requested resolutions in writing multiple times and managers have refused. The last excuse that was given by the manager on the insurance end, was that they dont have the ability to free type a letter. Ive also requested additional manager call backs and no calls have been received. I am considering refinancing just to get away from TMS. Its disgusting to think that Ill be forced to pay closing costs yet again because of a companys unfair business practices. They should be fined for knowingly converting a non escrow mortgage to an escrow mortgage without permission.
09/16/2020 Yes
  • Mortgage
  • VA mortgage
  • Trouble during payment process
  • PA
  • 191XX
Web Servicemember
XXXX of 2019, after XXXX advised me of a potential mortgage shortage. I notified them of my tax exemption for being a 100 % XXXX veteran residing in the state of XXXX. They have yet to successfully submit the proper documentation to the city of XXXX, I have been flooded with misinformation repeatedly, as I am over three dozen calls into the company and I provided all required documentation to them. XXXX has to facilitate the return on nearly {$10000.00} in overpaid taxes in to me. Yet they have failed to do so. My last earnest request was to revived a copy of the paperwork that they sent to the city of XXXX, that was two weeks and 5 phones ago. They have yet to provide it, mind you it is as easy as CCing me on the email. One rep stated that they would, then failed to do so. Lastly, I was advised by a rep to go into forbearance as I await the return of the fund, ( early XXXX ). In subsequent calls I was then provided with misinformation and inconsistent information as to whether they could or couldnt run a new escrow analysis while I was in forbearance. I was told by one rep that that was a good course of action, then in subsequent call, its not acceptable and its against their policy to perform the analysis. I am XXXX into the forbearance, OWED to them, with an incorrect escrow amount ( which makes the payments higher ) and another XXXX owed to me.
03/02/2020 Yes
  • Mortgage
  • Conventional home mortgage
  • Trouble during payment process
  • FL
  • 34787
Web
Our mortgage loan is serviced by The Money Source. This mortgage was bought from XXXX XXXX XXXX. We do not have any late payments nor any delinquencies. Here are our complaints : 1 ) The escrow payments from XXXX XXXX XXXX has not been transferred to The Money Source. They have not worked on getting the escrow balance from the previous mortgage company to ensure that our property tax that is due by XX/XX/XXXX is paid. 2 ) Our closing documents show a monthly payment of {$4200.00}. And this amount is the same amount that is reflected on the monthly statements issued by The Money Source. HOWEVER, they are crediting our bank account {$5600.00} starting today. I called them today and I was told that they are not aware and have not worked on getting the escrow balance from XXXX XXXX XXXX. This is the reason why they are increasing our monthly payment without notice. Apparently, they just made the escrow analysis on XX/XX/XXXX, and that shows they should credit our bank {$5600.00} today, XX/XX/XXXX. As I am currently talking to them now, I am being told that they will put a hold on monthly payment until they resolve this issue. I am still filing a complaint because they should be notifying us of any change in monthly payment or any result of escrow analysis. Secondly, I am very concerned if our property taxes will be paid timely by the end of the month.
07/22/2021 Yes
  • Mortgage
  • FHA mortgage
  • Trouble during payment process
  • MD
  • 21216
Web
My loan is being serviced by a company called The Money Source for the home I own in XXXX XXXX. Last year they paid all of my property tax payments late, resulting in {$400.00} of late fees that I was never reimbursed for. Following the late and inaccurate payments out of my escrow account, they proceeded to run an escrow analysis based off those same incorrect payments and predict an escrow shortage. Based on their prediction, they increased my mortgage payment {$300.00} a month even though I asked them to redo the analysis based on the the more updated information. They ignored that, proceeded to pay another incorrect payment out of my escrow account in the amount of {$3900.00} and now I have a balance of {$0.00} in my escrow account. When I asked them to get a refund for the incorrect payment, they asked me to call back and check on the status in 3 months. So now I am stuck with an escrow account that has no money in it and an increased month mortgage payment all because of a mistake that they refuse to take accountability for and have no urgency to fix. Their tax department is incompetent and Im so frustrated by the fact that I have no option but to be stuck with this loan servicer for the next 30 years. They have mishandled my account over and over again and there is nobody to hold them accountable but me. I am in desperate need of assistance.
02/15/2022 Yes