| 08/03/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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Web |
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To Whom It May Concern : Based on the advice of two venerated lenders in the XXXX area, I am submitting a grievance against XXXX XXXX of NFM Lending ( XXXX # XXXX ).
In XX/XX/XXXX, my parents gifted me {$400000.00} to buy a house. Note, I was hit very hard by Covid and had to start an entirely XXXX XXXX, which is growing but is not supporting me in the way my XXXX business did XXXX.
I turned over a series of documents ( XXXX XXXX ) per XXXX XXXX request. Note, I have Fair credit and show a drastic loss in income based on prior years. The cost of the house was {$470000.00}. XXXX XXXX instructed me to use $ XXXX for the house , that would cover the down payment ( 20 % ) and pay off debt needed to obtain a loan. Per Appendix B, I was pre-approved for a 50 % loan.
XXXX XXXX turned over my loan account to his colleague, XXXX XXXX, Loan Partner and an un-licensed lender. Between XX/XX/XXXX to XX/XX/XXXX, I submitted all documentation XXXX XXXX and her associates requested.
Twice during this process, I requested a loan statement and breakdown of costs, XX/XX/XXXX ( Appendix C ) and XX/XX/XXXX ( Appendix H ). XXXX XXXX did not send over a mortgage breakdown until XX/XX/XXXX ( Appendix I ) and then tried to say he had sent this over earlier in the process. When my realtor and I pressed him to resend the original email we got no response.
On Friday XX/XX/XXXX I pointed out to XXXX XXXX that I had to send in my down payment per the Title Companys guidelines. He told me to send in {$260000.00} based on his ballpark estimate. I still had not seen a mortgage breakdown at this point and did not send the money.
On Tuesday, XX/XX/XXXX, the day before closing, I had a call with XXXX XXXX at approximately XXXX. During this brief call he stated that all was in order and there were a couple of loose ends that needed to be tied up but nothing to compromise the closing on XX/XX/XXXX. At XXXX I received a call from XXXX XXXX XXXX that the mortgage did not go through, and they were concerned that my mortgage lender was not being up front with me about the situation.
On Closing Day, Wednesday XX/XX/XXXX XXXX XXXX did not respond to any emails or texts until XXXX that day.
After the failed closing I reached out to two venerated mortgage brokers who told me they would have never approved me for a loan based on the information I had provided XXXX XXXX and that XXXX XXXX practices and requests were out of scope. They both recommended I report XXXX XXXX.
In the meantime, on Friday, XX/XX/XXXX, XXXX XXXX came back with a list of conditions and information I needed to supply. My realtor, two other mortgage lenders and a real estate lawyer advised me that these conditions were really out of scope and that XXXX XXXX was looking for a way to get out of this mortgage. At that point I pushed back on XXXX XXXX and questioned his ethics at which point he ended our business relationship.
In turn, I have lost a {$23000.00} deposit that I would like XXXX XXXX or NFM Lending to re-pay that I lost when this mortgage wasnt approved, and the sale of the house did not go through.
In the meantime, it was brought to my attention that XXXX XXXX has tried to slander my name by saying I refused to hand over documentation throughout the entire process and that I would not cooperate with his team. Below is all the documentation and emails between us. Not once during the process did, he say that there was an issue. There are multiple emails and texts where he says things are on track and all is good.
Notable Issues : XXXX XXXX did not hand over standard documentation ( i.e., a mortgage statement ) when requested.
XXXX XXXX was unclear of the documentation I had submitted, what needed to be submitted and gave me conflicting advice.
An unlicensed broker was handling my account with no accountability XXXX XXXX was telling my realtor, the seller, XXXX XXXX and me that everything was on track over the course of 5 weeks when it wasnt Refused to communicate Has tried to slander my name In the following pages, I have provided a Timeline of Events and supporting Appendices. I hope that this claim will be reviewed thoroughly.
As a small business owner who was hit hard by Covid this was a real blow. If XXXX XXXX had just been up front that I didnt qualify for a loan it would have saved me and many other people a lot of time and money.
Sincerely, XXXX XXXX XXXX : XXXX XXXX, NFM Lending XXXX XXXX, NFM Lending XXXX XXXX, NFM Lending Timeline of Events ( Note, these are just highlights or important milestones and all are within calendar year XXXX ) XX/XX/XXXX XXXX XXXX and I connect via my realtor XXXX XXXX and make an appointment for an initial discussion about a mortgage.
XX/XX/XXXX XXXX XXXX XXXX, co-worker of XXXX XXXX requests the following documents. See notes below with my responses in blue.
For a copy of the actual email refer to Appendix A.
o W-2s/1099s from XXXX and XXXX ( if applicable ) - I have a 1099 from my only client, would you like that? It is also outlined in my taxes o Personal Tax Returns from XXXX and XXXX - these are combined, my XXXX are still getting filed. Do you want a P & L from XXXX?
o Business Tax Returns from XXXX and XXXX ( if applicable ) o Thirty days most current pay stubs ( if applicable )- do you want my pay stubs or for my entire team? I take a draw from the business?
o Two months most current bank statements for all bank accounts, both personal and business - see attached XX/XX/XXXX I am approved for a loan and XXXX XXXX outlines the terms ( down payment and paying off debt ) ( Appendix B ) XX/XX/XXXX I request XXXX XXXX to walk me through the breakdown of the mortgage and related documentation, which I never received, and he never followed up with about my request. ( Appendix C ) XX/XX/XXXX XXXX : XXXX XXXX requests Borrowers Authorization Print, hand sign, scan or take a quality photo of both pages and return.
Explanation Letter Provide an explanation for every item in the spaces provided. Mark the appropriate boxes on the right-hand side. Hand sign and return.
3 months most recent business bank statements.
2 months most recent personal bank statements.
XXXX Profit and Loss Statement XX/XX/XXXXYear to Date Profit and Loss Statement XX/XX/XXXX XXXX XXXX sends rules of the road to me. I respond letting him know that I have submitted everything requested and if there is anything else to let me know. ( Appendix D ) XX/XX/XXXX XXXX XXXX confirms all documents have been received ( Appendix XXXX ) XX/XX/XXXX XXXX XXXX XXXX requests additional information : IRS Record of Accounts XXXX XXXX I sent on XXXX and XXXX Copy of Drivers License or Passport I sent on XXXX Hand Signed Profit and Loss Statements from XXXX and XXXX - I sent on XXXX XXXX and XXXX 1099s I sent on XXXX Gift Letter see thread below XX/XX/XXXX Source of Large Deposits I sent on XXXX Homeowners Insurance Quote I sent on XXXX Chase Account info ending in XXXX I sent on XXXX No Return Transcript XXXX - I sent on XX/XX/XXXX Consumer Explanation Letter I sent on XXXX XX/XX/XXXX XXXX My parents were asked to fill out a gift letter with related wire transfer information ( Appendix F ) XXXX XXXX erroneously requested my parents XXXX sign the Gift Letter ; however, my parents lawyer and XXXX XXXX corrected her and said the Trust owner needed to sign this XXXX XXXX then asked for a copy of their Trust document. My parents lawyer pushed back and said this was not in scope at which point XXXX XXXX jumped in and corrected XXXX XXXX that the existing documentation was suitable as their names were on the Trust. To note, my parents were not comfortable sending over a private document and their lawyer said this has no bearing on the gift.
XXXX XXXX sent me a text confirming that he had pulled the guidelines and could get around this since their names were on the Trust.
XX/XX/XXXX : XXXX XXXX requested : ( my answers in blue ) What is the date that you began XXXX XXXX XXXX please? XX/XX/XXXX, incorporated though XX/XX/XXXX Is XXXX XXXX XXXX XXXX Still in business? Follow up documents may be requested. Yes, it is just a passthrough for my horse activities The lead processor, XXXX, sent you a corrected IRS 4506C to e-sign several days ago. Please sign and return. Let be know if you need it sent again - Can you resend? I never received it Please provide the proof of your XXXX tax extension : - Form 4868 - " Application for Automatic Extension of Time To File U.S. Individual Income Tax Return - requested and you were copied on the email Most recent statement from XXXX Revolving account - see attached Most recent statement from XXXX XXXX XXXX account - see attached XXXX XXXX XXXX XXXX and XXXX requested and you were copied on the email The XXXX XXXX XXXX XXXX and XXXX - - requested and you were copied on the email Please have XXXX XXXX XXXX sign the Gift Letter. - I will send this to him ( note, after this email it was realized that XXXX XXXX was requesting the wrong person to sign this letter ) Appendix G for further details.
XX/XX/XXXX I sent an email to XXXX XXXX with final documentation from XX/XX/XXXX email and asked her if there was anything else she needed regarding this set of information. I did not hear back from her.
See Appendix G for copy of email XX/XX/XXXX XXXX XXXX requested ( my answers in blue ) : XXXX and XXXX P & L for XXXX XXXX XXXX XXXX, both hand signed. - this was formed in XX/XX/XXXX NOTE : Wet Signed P & L was sent on XX/XX/XXXX Does XXXX XXXX have a physical address and phone number? Provide if it does, if not, just let me know. No What was the date that you created XXXX XXXX? XX/XX/XXXX If you have a bank account specifically for XXXX XXXX XXXX, please provide the most recent 3 full months worth. See attached. Sent on XX/XX/XXXX XX/XX/XXXX XXXX : XXXX XXXX asks clarifying questions regarding XXXX XXXX XXXX that had already been answered. He also requests a wet signed P & L for XXXX which I provided on XX/XX/XXXX ******AFTER THIS DATE I DID NOT HEAR ANYTHING MORE FROM ANY MEMBER OF THE NFM LENDING TEAM ( XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX ), REQUESTING INFORMATION OR NEXT STEPS****** Monday, XX/XX/XXXX XXXX XXXX and I spoke that day and he told me everything was in order to close and that I would be receiving loan and closing documentation later in the day.
Note : I never received this documentation Tuesday, XX/XX/XXXX - XXXX am - I send an email to XXXX XXXX asking where we are with the mortgage details, asking for documentation and to talk based on an email I received from XXXX XXXX, the title company.
XXXX XXXX I get an email response back that we should talk the next day, Thursday XX/XX/XXXX.
Note : XXXX XXXX never called me ( Appendix H ) Thursday, XX/XX/XXXX ( XXXX ) - I text XXXX XXXX XXXX if we are good to go. I do not hear back until Friday ay XXXX ( Appendix H ) Friday XX/XX/XXXX XXXX XXXX tells me I can wire money and gives me a ballpark number, still with no corroborating documentation. At that point I said we should wait until there is documentation.
( Appendix H ) Sunday XX/XX/XXXX My realtor XXXX XXXX has been on vacation in XXXX since XX/XX/XXXX. I call and alert him to the fact that I still have no documentation and am getting concerned. XXXX calls, texts and emails XXXX XXXX asking where we are with things. He does not hear back.
Monday, XX/XX/XXXX XXXX and XXXX talk after countless messages left. XXXX XXXX says he sent me the loan statement. He would not return my calls that morning.
XXXX - I received the loan statement at XXXX. In that email XXXX XXXX tries to say he has sent this statement to me before but can not furnish the original email to me or my realtor.
( Appendix I ) XXXX XXXX XXXX and I speak and go through the loan statement. Everything is in order, and he tells me we are locked and loaded to close on Wednesday, XX/XX/XXXX. He directed me at that point to wire the down payment and money I was going to use to pay off my car with.
XXXX I wire {$240000.00} to First XXXX XXXX XXXX XXXX XXXX ( Appendix I ) XXXX XXXX XXXX emails me asking a question about an XXXX loan on my XXXX P & L Tuesday, XX/XX/XXXX XXXX and XXXX - I respond to XXXX ask to speak with her about the XXXX question. I dont hear back.
XXXX ( approximate ) - I call XXXX XXXX about the XXXX question. He says he will handle it and that the closing is still on.
XXXX ( approximate ) - XXXX XXXX XXXX from XXXX XXXX XXXX calls me and tells me that we are not closing on the XXXX, she then emails XXXX and asks to speak with him. He does not respond, and she tries again on the XXXX to contact him ( Appendix J ) XXXX I send XXXX XXXX and my realtor XXXX XXXX a text message about my call from XXXX XXXX XXXX I also direct him to check his email for an email from XXXX XXXX as she has been trying to connect with him since Monday and has not heard back.
XXXX XXXX XXXX had me write a letter regarding the nature of the XXXX Loan XXXX I do not have an update, so I text again. XXXX XXXX tells me to sit tight per a text message, that is the last I heard from him until an email on XX/XX/XXXX, from XXXX XXXX. ( Appendix J ) Wednesday XX/XX/XXXX Closing Day I hear nothing from XXXX XXXX or anyone from NFM Lending. This is all the communication that took place.
See Appendix J text from XXXX XXXX confirming she has not heard from XXXX XXXX either XXXX XXXX XXXX XXXX from XXXX XXXX ( seller ) sends an email to XXXX XXXX asking for an update XXXX pm XXXX XXXX responds XXXX XXXX XXXX from XXXX XXXX XXXX XX/XX/XXXX I receive an email from XXXX XXXX with 13 conditions of documentation I need to provide Note, I had already supplied 3, 8, 9, 10 and 12 back in XXXX In this request XXXX XXXX asks me to remove a line item out of my P & L My CPA furnished a letter that they would never write a letter like this for a client, it I push back on Points 1 and 2 as we had already agreed these were off the table and XXXX XXXX ends our business relationship.
XX/XX/XXXX XXXX I reach out to two venerated mortgage lenders who both tell me based on the documentation I provided XXXX XXXX they would have never approved me and that I should report this to the XXXX and Virginia SCC
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| 10/31/2023 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
- Trying to communicate with the company to fix an issue with the application process
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Web |
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Re : NFM Bank | XX/XX/XXXX Loan Application # I would like to make a formal complaint of Mortgage Lending Discrimination against the Institution NFM Lending.
I applied for a Loan based on Misleading Information placed on Social Media by XXXX XXXX aka XXXX XXXX XXXX. When I originally made contact with him. I made him aware that I was looking for a program which offered 100 % Financing.
He constantly posts on Social Media that he offers these programs and posts all these heroic situations and praises himself on lending in 50 States, which HE doesnt do but HIS COMPANY NFM offers.
My Emails to him just seemed like he wasnt listening. There came a time when I simply stopped replying because he gave me a XXXX XXXX XXXX XXXX False information and hadnt even LOOKED at my credit but was telling me I fell into all these low bowl scenarios. Telling me I had to reduce my loan to $ XXXX.
Days later he reaches out to me asking me if I am ready to complete an application?
How in the world were you giving me all this low bowl information? Based on what? Why would you tell me that? Extremely discouraging without actually looking into my credit or my file.
Ultimately I stop responding. I get a phone call on XX/XX/XXXX From a Woman who seems to call me to recover my contact and try to get an application done. She seems sincere so I complete the application expeditiously.
She makes me aware that my application is Assigned to a man named XXXX XXXX. A bigger nightmare.
He sends me a text message asking me questions which I respond to by sending him the documents that he requested.
He begins to ask me about my sons child support based on his age. As he tries to determine when child support would end. I explain to him the account is $ XXXX in arrears and is being paid current payments of {$860.00}. Meaning once the payments stop based on Age or Graduation ( XXXX turns XXXX ) Plus XXXX payments of arrears at {$880.00} which will go on into XXXX. Which gives over the 3 years which XXXX XXXX was required. I supplied the information and documents.
XXXX XXXX to say another Underwriter looked at the File and said they can not use the Income from Child support. I cant see how I could break down the time and tell you my son is in XXXX grade and provide documents to support that the payments would go on beyond XX/XX/XXXX ( The 3 years ).
I email him and ask him to have someone reach out to me for a second review. Simply because in my comparative analysis. No one has said that about that income.
Another thing I did was sent him a screenshot of my debts when he said mt DTI was too high. I only pay rent and utilities. I send him a picture of that..
NO RESPONSE. I truly feel and got the feeling that he didnt want to work with me based on my type of file. Im a XXXX XXXXXXXX XXXX with mostly XXXX and Child support Income with a XXXX XXXX that brings in a small revenue.
I feel like my File was dismissed without Merit.
First and Foremost I applied for a quote on 2 types of mortgages : FHA which requires a XXXX XXXX XXXX and the 100 % financing allegedly offered at XXXX which Im a XXXX mid score.
USDA- which likes to see a XXXX but has manual underwriting for lower scores and special circumstances.
I basically was denied Manual Underwriting for BOTH products when I had all supporting documents to proceed with Manual Underwriting. I know for certain I am entitled to manual underwriting by request of recommendation.
I was denied that right based on Discriminatory Lending Practices. Im certain if I were a different race and even working at XXXX. XXXX which isnt garaunteed like my court ordered and XXXX ordered income, THEY ALL would have been more delighted to make that effort to have all options exhausted.
Manual Underwriting is present in every financial institution. Why was I denied that Option?
I would like to make a Formal Complaint to Report Discriminatory Lending Practices Based on Race and Disability and Means of income. For there is no reason why my file was not given the opportunity to be sent to an FHA or and USDA Manual Underwriter.
This form of practice leads to hundreds or thousands of applications which are not approved or denied. Simply Racially Profiled, Redlined and the result of discriminatory practices.
I have attached supporting documents.
XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXXXXXX Florida XXXX XXXX XXXX XXXX
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| 01/06/2022 |
Yes |
- Debt collection
- Mortgage debt
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- False statements or representation
- Told you not to respond to a lawsuit they filed against you
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Web |
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NFM Inc misused and negatively influenced XXXX XXXX XXXX 's information to XXXX, XXXX and multiple other consumer reporting agencies and is now suspect of transferring XXXX XXXX XXXX 's information and the alleged debt to a subservicer through " XXXX XXXX, XXXX '' to XXXX XXXX XXXX XXXX XXXX. Below is an explanation of the exhibits of proof as to what has happened up to now. All certified mail receipts and received envelopes from NFM Inc are available upon request. On XX/XX/XXXX, a package with a debt validation letter was sent to NFM Inc and received on XX/XX/XXXX by XXXX XXXX. A letter was sent back to me dated XX/XX/XXXX, which was computer automated, replying they had received the information and were working on reviewing it. On XX/XX/XXXX, a copy of this information was submitted via complaint to the CFPB ( Consumer Financial Protection Bureau ). NFM Inc sent the review letter on XX/XX/XXXX. It is required by law that NFM Inc include all parts needed for the validation process, which would be signed/answered by the original creditor. On XX/XX/XXXX, they sent a copy of the closing documents for said loan and the account history from XX/XX/XXXX to present. They also wrote in the letter how they are choosing not to provide proof of who is the original creditor in this transaction. It is their belief that these documents may be confidential or not relevant or required by law to provide for validation of said debt. The same envelope as the debt validation letter also contained a cease and desist letter for all forms of communication ( mail, email, telephone ). In addition, two more documents were sent ; a notarized affidavit of truth and an invoice for NFM Inc due to civil liability from noncompliance. Package was sent via certified-mail # XXXX XXXX XXXX XXXX XXXX. They wrote that they acknowledged the cease and desist and would only send things pertaining to law. This is an immediate disregard for the purpose of the cease and desist. On XX/XX/XXXX, mail addressed to XXXX XXXX XXXX was sent by NFM Inc dba NFM Lending. There was also no contest to the affidavit of truth sent to NFM Lending and they are continuing to neglect the invoice and the fact that they are accountable for civil liability. Attached is proof that XXXX deleted an item furnished by NFM Inc onto XXXX XXXX XXXX 's consumer report. This is admission and according to the Fair Credit Reporting Act, reparations are now due. On XX/XX/XXXX, a " Notice of Servicing Transfer '' was sent by mail. It explained how XXXX XXXX XXXX XXXX, was the original servicer of the loan and was subservicing said loan under a contractual agreement with NFM Inc. to XXXX XXXX XXXX. It is now my understanding that these companies are sharing my information and tarnishing my consumer reports without my consent. They have consistently presented me with false and misleading information, threatened foreclosure and have violated my right to privacy as a consumer. As a result, a letter pertaining of a qualified written request ( QWR ), dispute of debt and in compliance with and under the Real Estate Settlement Procedures Act, 12 U.S.C. Section 2605 ( e ) and Regulation X 24 C.F.R. 3500, and The Gramm Leach Bliley Act. On XX/XX/XXXX, NFM Lending XXXX XXXX responded to the CFPB Complaint submitted, which is where they affirmed their understanding of the cease and desist and also that they were still in belief that they supplied enough information for the QWR and the validation of debt. The following was clearly stated, " Again, this is a Qualified Written Request under the Real Estate Settlement Procedures Act, codified as Title 12 section 2605 ( e ) of the United States Code, a request under the Truth In Lending Act 15 U.S.C. section 1601 and as well as Regulation X Title 24 CFR 3500.21 ( f ) 2. RESPA provides substantial penalties and fines for non-compliance or failure to answer my questions provided in this letter within sixty ( 60 ) days of its receipt. '' This is the last opportunity to clarify and settle all this before a federal court sitting is arranged.
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| 07/31/2016 |
No |
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- Application, originator, mortgage broker
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Web |
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I started my home buying process and was referred to XXXX XXXX ( Branch Manager ) XXXX # XXXX at NFM Lending in XXXX, MA XXXX. He was able to get me a pre approval and told me to start looking for home so we could get the process started. My wife and I found a home not to long after and submitted an offer which was accepted, Purchase and Sales agreement was signed by both parties and sent over to him on XXXX XXXX. As soon as I received the short sale approval on XXXX XXXX I contacted XXXX so that we could move forward as XXXX set a closing date of XXXX XXXX, 2016. He told me that I needed to get a contractor into the property to get a proposal as soon as possible because we were doing a XXXX loan since the home needed some renovation and he would send me a loan application that day so we can start getting the loan in process and into closing. I was able to get a contractor into the property by XXXX XXXX which was about a week after I had sent him the short sale approval. I tried to contact him multiple with no success to find out why I had n't received the application. On XXXX XXXX I finally received a text after I had contacted him again and he replied " Hey ... I am in an apt right now. I 'll call you shortly. '' which was at XXXX and never heard back from him again that day. I kept calling still with no success until XXXX XXXX after I had called him and he replied back in a text " XXXX. I 'll call you back. '' which was at XXXX and I replied " Ok. Thanks '' at XXXX and he text me again at XXXX letting me know he spoke to my realtor XXXX with the following : " I just spoke to XXXX. We are going to go. The head of your file in hopes that sellers will give us an extension. Your file is next in line I will get it out today for you to e-sign ''. Mind you at this point we are less then two weeks away from the closing date XXXX had set on the short sale approval and he still has not sent me the application to e-sign. My realtor, the listing agent and I had no success getting in touch with him for an update until XXXX XXXX ... At XXXX that same day I text him " Hey XXXX. I did n't receive the application yet. '' And I never received a reply. I called him again multiple times and left him multiple messages and he finally sent me a text reply back on XXXX XXXX " Can I call you later? '' which was at XXXX. He spoke to to XXXX later on that day and she let him know that we needed to get the loan in process and into closing by XXXX XXXX because XXXX would not allow an extension as he had more then enough time to do his job which he never did. He told her that he would email and call XXXX and speak to the short sale specialist to get us an extension. Finally he text me on XXXX XXXX at XXXX " Left the guy another voicemail and sent him another email. I have not heard back yet. I will call this guy every hour today if I need to to get them on the phone. I will keep you posted ''. Again I never heard back from him that day and the next day I text him " Can you call XXXX asap? '' She is waiting on your call '' and then again on XXXX XXXX " XXXX needs to talk to you asap. Please give her a call. Thanks '' and he replied back shortly after " I just called her and left her a voicemail. I also sent her a text message. '' About 10 minutes later he text me " I just spoke to XXXX. She is calling the bank and requesting an extension. If they grant you this extension then we will hustle to get this done. '' XXXX spoke to XXXX and and granted us an extension until XXXX XXXX. I called and spoke to him letting him know we were only able to get a week extension and he said he would call XXXX. It 's now XXXX XXXX and I still have not heard back from him and lost a chance at my dream home. My XXXX XXXX daughters ask me everyday when we will be moving into our new home and I have to tell them that we are no longer moving into that home ... Terrible
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| 05/22/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Credit decision / Underwriting
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Web |
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My complaint is due to inappropriate and Unfair/Deceptive actions on the part of a Loan Officer with NFM Lending, in the processing of a mortgage application on which a purchase-sale agreement was predicated on. I was not the mortgage applicant in this case but I was as a party to this transaction and was harmed because of the actions of NFM 's Loan Officer, XXXX XXXX XXXX. The issue here is not the real estate transaction, which is not w/in CFPB 's juris., but NFM 's actions in the mortgage credit transaction.
XXXX XXXX received an application for a mortgage from XXXX who were under contract to buy our home. An unexpected low appraisal valuation impacted the terms of the financing application with NFM. The Buyers ' contract did not include an appraisal contingency so they were obligated to settle unless they were unable to get financing. The Buyers ' agent, recognizing the difficulty due to the lack of contingency, proceeded to manipulate the loan application in an effort to release her clients from the contract.
On XXXX/XXXX/15 we received an email from the Buyers ' agent informing us of a loan denial, she submitted a letter from NFM Lending as evidence, which indicated that the buyers were " short of verified funds for loan approval '', the letter was informal & suspicious. I asked our agent to request the official Adverse Action Notice which per XXXX requires NFM to identify specific denial reasons. Our agent reached out to NFM Lending and requested the Adv. Act. Notice from the underwriter. The NFM rep. indicated " [ that the buyers ] were nowhere near a denial ''. Due to a lack of agreement on a new sales price we received, on XXXX/XXXX/15, an email from the Buyers ' agent with the " Adverse Action Letter '', which was veritable & evidenced the denial. However, the Buyers already revealed in the contract that they had $ XXXX in the bank that would enable them to get a mortgage. The denial reason was inconsistent with this fact, since NFM was giving them 95 % LTV on a $ XXXX note.
The agent inadvertently attached email traffic between herself and the NFM Loan Officer that revealed some serious concerns regarding unfairness/deception. The Buyers ' agent asked XXXX XXXX to provide her an " Adverse Action letter [ ... ] as soon as possible '' In response the Loan Officer asked for clarification : " Question. For the Adverse Action letter do you need a withdrawal or a denial or either? '' The agent responded that she preferred a denial which XXXX XXXX promptly provided.
This exchange is concerning -- ECOA/Reg B requires NFM to deny the loan on the merit of underwriting. This process does not provide for external parties to render a decision on the application other than the underwriter, nor does it provide for external solicitation of a specific outcome. If this is the case, then NFM needed to also disclose the agents ' request for a denial as a contributing factor. I thought that ECOA facilitated fairness and discouraged discretion in approval/denial of a loan. I am disturbed that NFM uses discretion to approve/deny an app. & invites non-lending parties to decide if a loan is denied or withdrawn.
Furthermore, in the haste to complete the service request XXXX transmitted the denial letter and included the applicants ' PII. XXXX XXXX 's actions were grossly inconsistent with Gramm-Leach-Bliley as he did not exercise caution and revealed the applicants ' credit scores to me, my husband and our agent as well as the Buyers ' agent. We reached out to NFM 's mgmt. to complain but to date have not received a response from them explaining XXXX XXXX 's irresponsible actions. I am concerned that NFM 's practices can negatively impact my own ability to obtain a mortgage or others like me if the decision to approve/deny a loan application is untrue and that discretionary opinions influence the treatment of applicants
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| 11/28/2022 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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XXXX XXXX XXXX XXXX XXXX, MD, XXXX XXXX XX/XX/2022 Consumer Financial Protection Bureau XXXX XXXX XXXXXXXX XXXX, DC XXXX Dear CFPB, Re : XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX # XXXX ) On or around XX/XX/2022, I contacted Loan XXXX, XXXX XXXX via email to inquire about a new home loan for an additional property other than my primary home. XXXX XXXX recommendation after we discussed the reason for this new purchase was for me to refinance a home ( XXXX XXXX XXXX, XXXX MD, XXXX ) that I owned out right, pay off some bad debt as he called it, and then XXXX XXXX XXXX XXXX would give me an additional loan to purchase the house that I was seeking to purchase. XXXX XXXX informed me that the only option for me to get a secondary home for me and my grown daughter and granddaughter to live ( XXXX hours from my primary home ) was a conventional loan with 25 % down. However, I was able to obtain better advise and a better loan from another lender. As it stands, with XXXX XXXXXXXX XXXX XXXX, I completed the refinance of my XXXX XXXX XXXX, XXXX at the lenders advice. After the loan was finalized with XXXX XXXX XXXX XXXX, my loan was immediately sold to XXXX XXXX with my first payment due XX/XX/2022.
My specific complaint against XXXX XXXXXXXX XXXX XXXX, XXXX XXXX and XXXX XXXX is : ( XXXX ) The predatory lending practice I was subjected to by XXXX XXXX. By his communication and lack thereof, it is obvious XXXX XXXX focus was for me to refinance my home that was paid in full, to XXXX XXXX XXXX XXXX. After the refinance loan was finalized, I have not received any communication from XXXX XXXX since to inquire if I was still on track for purchasing a new home ( my XXXX goal when I reached out to him ).
( XXXX ) As it stands, I still have not been fully dispersed the refinance loan amount. I have repeatedly emailed and contacted XXXX XXXX and XXXX XXXX informing them that I am still minus {$3500.00} of funds being disbursed from the refinance loan amount. I am scheduled to start paying for the refinance loan on XX/XX/2022, of which I have not been given the full loan amount. Prior to XXXX XXXXXXXX XXXX XXXX still owing me {$3500.00}, I had informed them that XXXX of the debts that was showing outstanding, I had actually already paid off. I sent evidence of my paying off this debt at least XXXX times to XXXX XXXX XXXX XXXX yet they still wrote a check for {$3500.00} to the debtor approximately XXXX months ago. I mailed the check back to XXXX XXXX XXXX XXXX and emailed them informing them that I had already shown proof that I did not owe the {$3500.00} they were still showing that I did. After several complaints and warnings to take legal action, XXXX XXXX sent an email response on XX/XX/2022, as follows : XXXX is cutting the check for {$3500.00} so that should be arriving from them soon. I have yet to receive these funds, and as stated, I am due to start repaying this loan in a few more days.
To resolve the problem, I would appreciate if CFPB would initiate formal complaint procedures as well as assist me in getting the {$3500.00} that is still owed to me. I also will be filing a complaint with the Federal Trade Commission and perhaps my local judiciary system.
Enclosed are copies of my records ( emails, copy of refinance loan agreemet, and statement ).
Sincerely, XXXX XXXX XXXX ( XXXX )
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| 11/28/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Applying for a mortgage or refinancing an existing mortgage
- Confusing or misleading advertising or marketing
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Web |
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I am a licensed XXXX my NMLS is XXXX and my client forwarded an email with a possible RESPA violation because it provides a thing of value to incentivize referrals. Here is the email forwarded by my client : From : XXXX XXXX XXXX Sent : XXXX, XX/XX/2023 XXXX XXXX To : XXXX XXXX Cc : XXXX Team XXXX ; XXXX XXXX ; XXXX XXXX Subject : XXXX XXXX XXXX XXXX!
Congratulations on the loan approval! Attached is your lender letter for the amount of {$810000.00}. You are able to get approved for more if you'd like ; please check with myself or the team so we can make the proper adjustments to your application should you decide you need to increase the approval amount.
The story : Purchase condo in XXXX XXXX as XXXX XXXX XXXX to write the offer : a. Loan type : Conventional b. Seller concessions : none c. Down payment : 25 % d. Time needed to closing : XXXX days e. Conditions or outstanding items : Documentation of Assets and IRA Distribution Income Your next steps are : 1. Schedule a time to review your loan options. We will build you your own customized mortgage calculator specific for your situation. We will go over payment information, taxes, insurance, escrow, out of pocket funds and more. Schedule a time at www.schedulechrism.com. Today at XXXX XXXX 2. Find that perfect property!
A few things to keep in mind : -The amount of money in your accounts is important. We need to verify down payment and 'reserve funds ' prior to closing. So keep your balances high.
-Let us know about any changes in income or employment.
-Any new debt, even if it's buy now pay later can nullify your approval.
-Any non payroll deposits or transfers in your bank accounts could be subject to underwriter review.
-we need your help!!! No big deal here, but if you feel like were taking great care of you, please connect us with someone else who may need help financing their home. If you can connect us with a family who we end up serving we will pay for your appraisal!
Please feel free to reach out if you have any questions!
We look forward to working with you!
XXXX XXXX Production XXXX XXXX Cell : XXXX Fax : XXXX XXXXXXXX XXXX Disclaimer WE WILL NEVER ASK YOU TO WIRE MONEY! BEWARE OF PHISHING EMAILS REQUESTING A BANK WIRE. PLEASE CALL AND SPEAK WITH YOUR LENDER, TITLE COMPANY AND CLOSING ATTORNEY TO CONFIRM ANY WIRING INSTRUCTIONS BEFORE YOU WIRE ANY FUNDS. The information in this email is confidential, privileged, and/or proprietary to NFM Lending and/or its affiliates. The information transmitted herewith is intended only for use by the individual or entity to which it is addressed. Access to the email message by anyone other than the addressee is unauthorized. If you are not the intended recipient, any disclosure, copying, or distribution of the message, or any action or omission taken by you in reliance on it, is prohibited and may be unlawful. If you have received this email message in error, please immediately notify the sender and/or NFM Lending by calling ( XXXX ) XXXX and return and/or destroy the original message.
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| 12/27/2015 |
Yes |
- Mortgage
- Conventional fixed mortgage
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- Loan servicing, payments, escrow account
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Web |
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I would like to file a predatory lending complaint against XXXX XXXX ( XXXX ID # : XXXX, GA License # XXXX ) and NFM Lending ( XXXX XXXX XXXX, XXXX, MD XXXX ). I was a victim of a bait and switch where I received an amended mortgage settlement XXXX month AFTER I had already closed my loan increasing my mortgage payment by {$100.00} each month! I was told by XXXX and NFM that it was an error on their part in the monthly payment calculation and that I would have to sign the amended settlement to which I refused. I was under the impression that once you close your loan the payment can not increase unless there is a shortage upon annual escrow analysis. How can my mortgage payment increase {$100.00} only one month after I signed all closing documents? To give a brief backstory I currently work for a XXXX myself and was approved for a mortgage at a rate that was much lower than NFM was offering. However, the city XXXX was offering a downpayment assistance grant in which NFM was a preferred lender and my bank was not. I made XXXX and NFM aware of this, and they assured me that my first year mortgage payment would not be any higher than {$670.00} per month including taxes and insurance based on the purchase price of the property I was currently under contract on. I had the option to go with my bank for a monthly payment of {$700.00} per month but obviously chose the lower XXXX year monthly payment offered by NFM also considering the fact they were the preferred lender for the City of XXXX 's grant program. XXXX and NFM lied to me to get me to sign with their mortgage company at a " lower '' payment only to increase it one month after closing. They knew I had an option of going with my bank so they chose to falsely convey their monthly mortgage payment as lower until I closed then raising it {$100.00} per month suddenly out of nowhere for no justified reason other than a " miscalculation '' on their part.
The second issue. After my closing was delayed XXXX times ( yes XXXX times ) by NFM I finally reached the night before closing. I received a call from NFM that there was a {$2000.00} surplus from the XXXX grant ( which they knew all along ) and in order for them to apply it to the loan amount they would have to generate new documents delaying the closing an XXXX time, but they offered the option to send a check for the surplus to my HOA to cover my dues until the funds were exhausted. At this point I was informed by my realtor that the seller would walk away if the closing were delayed again so I had no choice but to take that option of applying the surplus to my HOA fees. It seems to me that NFM hid this fact about the surplus so they would not have to decrease their loan amount and gain additional interest on my mortgage and make it more attractive on the secondary market. It would have been more beneficial if the {$2000.00} were applied to my loan balance saving me on interest but they hid that until the very end forcing me to apply it to my HOA so they could retain a higher loan balance.
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| 01/05/2022 |
No |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Hi I believe I haven a victim of boycotting in 3 different morgate brokers I have trying get a home loan approval submitted my pay stuff and talking to the loan processor at those 3 companies and they all denied my loan.they never provide me with a denial letter stating the reason for it. Only orally they state that I don't qualify because my income is low and the have to high iloan to income ratio. Attached you'll find my pay stuff. I even calculate the loan to income ratio myself and in XXXX. Stay low and I can qualify for XXXX.Even my son was suppose to be my cosigner and they state isn't approved. The firts company is XXXX XXXX The name of Loan processor XXXX XXXX. Date XX/XX/2021 to present. I had a contract with XXXX XXXX signed in XXXX XXXX.He pre-approved me for it. I got unemployed XX/XX/2021. I called explained. They let me get another job. I stater to work on XX/XX/2021. 2 jobs. One at sesalons pay with XXXX. And XXXX XXXX pay XXXX. All paystuff submitted by email to him. Even my son pay stuff. I haven received the declined loan letter. Just a phone call by him saying he only use my base salary he can't use XXXX. And he just called me today again XXXX XX/XX/XXXX at XXXX XXXX to confirm he didn't approved it I asked him again if he use my whole pay stuff amount he said yes. When he told me he couldn't. The loan amount was suppose to be XXXX. I had putted XXXX in down-payment. Wich XXXX homes refunded to me.he also said I'll be getting the declined loan letter in 10 days. Second company I applied to is The XXXX XXXX of NFM Lending. I firts apply with XXXX XXXX then XXXX XXXX was in contact with me. Her assistant I believed. Then a 3er person stating was the loan coordinator manager called me and stated it we won't qualify because the loan to income ratio was to high. And he can only use my base salary not my whole pay check amount. And neither my son whole pay check. Wich is absurd. That is the proved of income and we pay taxes to whole amount. I requested her the declined letter that by RESPA I'm suppose to get with the reason of the denial and she said she is not use to it to send any because it has the names and head names of the company. Yes I have been a victim of boycotting and XXXX XXXX XXXX XXXX XXXX Loan number XXXX And XXXX XXXX | she/her/hers XXXX XXXX XXXX # XXXX XXXX Cell : XXXX Fax : XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, NC XXXX Attached you'll find the paystuff and XXXX.
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| 06/09/2023 |
Yes |
- Mortgage
- Conventional home mortgage
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- Trouble during payment process
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Web |
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I closed on the house in XX/XX/XXXX XXXX The lender required an escrow account to be created.
Closing disclosures shows {$1600.00} as an initial escrow payment at closing ( Exhibit XXXX ). This amount is also reflected on the first mortgage statement from NFM Lending ( Exhibit XXXX ). My first mortgage payment was due to NFM Lending and I paid it in full ( Exhibit XXXX ). The first mortgage payment to NFM Lending in the amount of {$2400.00} consisted of {$1900.00} for Principal & Interest, and {$490.00} for Escrow funds collected. Later my loan was sold to XXXXXXXX XXXX XXXX XXXX XXXX XXXX and the 2nd mortgage was due to XXXX XXXX ( Exhibit XXXX XXXX. XXXX XXXX confirmed that only {$1600.00} was transferred to them by NFM Lending and they provided the statement ( Exhibits XXXX and XXXX ).
I called NFM Lending and asked what happened to {$490.00} escrow funds that I remitted to them with the first payment. The first couple of agents said that NFM Lending transferred those funds to XXXX XXXX, which was a lie and as a matter of fact those agents were very rude and impatient. On XX/XX/2023 I called NFM Lending again and requested about {$490.00} funds that they took from me and did not transfer to my new loan servicer. XXXX, this is the name that the agent provided, said that NFM Lending used those funds to pay for my insurance and taxes for that property. When I requested the details which insurance ( insurance was paid by me in full from the closing funds ) and which taxes ( there are no taxes due for this property as of today, XXXX XXXX XXXX assessors page has XXXX amount ), all of a sudden she remembered ( no surprise ) and said that another colleague had the answer and that that another colleague one will call me next day ( she did not bother to clarify the phone number to call, just another lie ). By the way, XXXX was not helpful and friendly either.
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| 04/16/2021 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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My fianc and I reached out to NFM Lending in XXXX to start the process for an FHA loan. We were looking to sell our home and find a bigger house for our growing family. We advised NFM Lending I had some credit card debt I would like to pay off with our tax return when we received it. With the understanding raising my credit score would improve our interest rate. We paid off my credit card in early XXXX but were advised by NFM Lending that it might be best to wait until XX/XX/XXXX so everything could clear on the credit report. We listened.
NFM Lending was fully aware my fianc and I would be applying for the loan together, just like we did the first time we used XXXX at his previous company.
My issues is, raising my credit score meant absolutely nothing as NFM Lending advised they take the lower, middle of the peoples scores applying for the loan. My finaces credit score was about XXXX points lower than mine. Not one question or statement was ever made about my fianc 's credit.
This issue would have been avoided completely if NFM Lending did their job and advised us that they would have to take the lower middle of the 2 scores in XXXX.
We found out in XXXX we couldn't get approved for our new loan due to our debt to income ratio. I completely understand, NFM Lending couldn't do anything about that. That said, the interest rates to refinance were at least a full percent lower in early XXXX than in XXXX. If we knew in XXXX we couldn't sell our house, I would have refinanced right then.
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| 09/30/2022 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Servicemember |
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When applying for the loan we disclosed we had childcare expenses.
We were preapproved, and not long after we put an offer on a home and it was accepted.
Our lender sent us disclosures the childcare expenses werent on there, when I asked him about it he said it didnt matter that they were wrong, we just needed to sign the forms to move forward, so we did.
Well now on XXXX theyre saying we do not qualify for the loan and we would need to pay down points and debt to qualify.
My issue is they knew about the childcare well before we put an offer on a home, and they didnt figure it in to our loan amount.
They are unwilling to work with us, at this point weve put {$2500.00} down for due diligence, weve paid inspections and had the appraisal done.
I dont know if they were trying to be shady about the childcare or what, but we did everything right and everything we were supposed to and I do not feel they acted in good faith.
I feel like they purposely excluded the childcare to get a sale, and once it came down to it, they got caught when they realized they actually legally need to Include it, but instead of blaming themselves or fixing the situation theyre trying to make us fork over almost $ XXXX just to qualify.
This is not okay, we dont know what to do. I spoke to my lawyer and she told me to contact CFPB.
I hope someone can help us.
Thank you, XXXX XXXX
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| 01/28/2023 |
Yes |
|
- Trouble during payment process
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Web |
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On XX/XX/XXXX, by telephone, with an NFM live representative, I paid {$2200.00} from my checking account.
On XX/XX/XXXX, XXXX for the third time, distributed a check for {$2000.00} ; it was finally credited to my account on XX/XX/XXXX On XX/XX/XXXX, XXXX XXXX disbursed two checks to NFM. The first check for {$1100.00} and the reinstatement check for {$6800.00} On XX/XX/XXXXXXXX XXXX XXXX disbursed a check for {$1100.00}.
This is a total of {$13000.00} that NFM has received it. Several checks may not have come broken up into the suggested monthly increments. However, they received the funds and did not distribute them where they needed to, which is to my mortgage. In addition, they continue to report to the credit bureaus that my mortgage is late, which at this point, is impossible. XXXX was the first month my mortgage was in arrears. My payment of {$2200.00} covered XXXX and XXXX.
XX/XX/XXXX - {$1100.00} w/out late fee XX/XX/XXXX - {$1100.00} w/out late fee XXXX XXXX My mortgage increased to {$1100.00} w/out late fee XX/XX/XXXX - {$1100.00} Total amount due and paid : {$4400.00} {$13000.00} ( total money disbursed to NFM ) - {$4600.00} ( XXXX Mortgage ) = {$8500.00}, the total amount of money to NFM and NEVER applied to my Mortgage.
Moreover, I am being transferred to another XXXX XXXX XXXX XXXX XXXX
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| 12/01/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
Our home was damaged during Hurricane Ida ( XXXX ). We received insurance funds from our insurance company in early XXXX. The check was made out to myself, my husband and our mortgage company NFM. We endorsed the check and mailed it overnight to NFM on XX/XX/XXXX, included with the check was a self addressed overnight envelope.
On XX/XX/XXXX, I contacted NFM to find out the status of the check as we had not received it back yet. At this time, we were told that because our loan was being transferred on XX/XX/XXXX, the check had been endorsed but was sent to the new mortgage company. I was provided the new servicers name, phone number and the tracking info for our check.
1. As of XX/XX/XXXX we had not been informed- aside from verbally - that our loan was being transferred 2. the check for repairs was made out to NFM XXXX myself and my husband. The new servicer will have no ability to do anything with the check and mailing it to them is simply delaying our ability to finalize the repairs to our home.
3. as of XXXX I contacted the new servicer and they have no record of myself, or my husband or our loan as our loan has not transferred to them yet.
We are at a loss about what we can do to get this resolved, and do not wish to assume the financial responsibility of legal counsel unless needed.
|
| 10/04/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
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|
Web |
Servicemember |
|
Applied for CARES act Covid forbearance on XX/XX/XXXX due to being unemployed due to covid. 1. ) Received approved Covid forbearance agreement dated XXXX XXXX stating suspension of monthly payments for months of XX/XX/XXXX through XX/XX/XXXX with suspension of credit reporting and late fees per XXXX covid CARES act. 2. ) Received delinquent notice dated XX/XX/XXXX with late fee of {$66.00} from lender NFM XXXX in violation of CARES act covid forbearance agreement. 3. ) Received Mortgage statement showing mortgage reported 30 days late and {$66.00} from lender NFM XXXX in violation of CARES act covid forbearance agreement. 4. ) Called NFM XXXX on XX/XX/XXXX and spoke with XXXX XXXX XXXX XXXX Employee stated there was a " scripting error '' and forbearance was not input into mortgage servicing system XXXX correctly. Stated system " should '' be updated with forbearance being correctly boarding into mortgage system XXXX. Employee stated that I needed to e-mail XXXX for 30 day mortgage late correction. ***Unacceptable that borrower needs to send an e-mail when mortgage lender made an error in violation CARES act covid forbearance guidelines. Need investigation into NFM XXXX procedures/practices as a loan servicer is in violation of XXXX servicing guidelines with covid forbearance on loan.
|
| 01/21/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
Hello. Approximately 6 months ago I refinanced with NFM Lending. They are currently servicing my loan. At the time of the refinance, my property taxes were approximately {$15000.00} a year. Almost immediately after the refinance my property taxes were reduced to approximately {$11000.00} a year. I have made multiple efforts by phone and email to NFM to have an escrow analysis done to ( 1 ) adjust my escrow payments accordingly as I am paying around {$400.00} a month too much into escrow and ( 2 ) refund my escrow overage. Nothing has happened.
The tax adjustment was retroactive, so there is also a credit with my county which I have been asking NFM to apply to my next tax payment, as the county will not issue me a refund, only a credit or a refund to my previous mortgage lender. I provided NFM an email from the county treasurer 's office to me in that regard. NFM has been equally unresponsive in assisting with that. That credit is approximately {$7000.00}.
In communications NFM referenced its " escrow department. '' I have asked for a contact at the escrow department or some way to get movement on what seems like a pretty simple issue. I was told there was no contact info they could provide me with for the escrow department.
Any help would be appreciated.
|
| 12/07/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
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|
Web |
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On XXXX XXXX we have purchase our first home, and we did not ask any question about anything we were very excited for our new home, we did not bother to ask like millions of home owners, but our Ignorance of the law we couldn't see anything wrong until we starting looking for information about our property we starter seeing that every single document in our possession was not sign, however we start to get info and research about this matter and after consulting a 25 year experience CPA we were able to find out that our XXXX XXXX was not even a Mortgage, no signature it was no loan in other words it was a fraud. after months of research and study we came to the conclusion that in fact was a fraud, so therefore is null and void. After digging with the help of our CPA we were aware of the Known concept of Generally Accepted Accounting Principles ( XXXX ) giving us the understanding how the Banking System works. with over XXXX hours of research we starting to comprehend what was really going on. Now we know that our loan was a deposit According to XXXX and and expert CPA name XXXX XXXX XXXX here is the link : XXXX : XXXX out of this document our eyes has been open
|
| 10/05/2022 |
No |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
I purchased my home in XX/XX/XXXXXXXX and my loan company continues to send me new XXXX Statement containing false tax information resulting in an increase of my monthly mortgage payment from {$1000.00} to {$1900.00}, which I can not afford. In addition, the mortgage company failed to pay taxes for the 2nd half of XXXX which resulted in delinquency charges and interest payments totaling over {$400.00}.
I have reached out to the lending company on multiple occasions via email and phone without any resolution. I reached out to them via email on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and via phone call on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX.
I have provided the lending company with tax bills from XXXX, XXXX and XXXX which are also readily available through the XXXX of XXXX. I finally received a letter today that the mortgage company has made a slight adjustment and lowered the monthly mortgage payment by {$200.00} however they are still basing this amount on false tax information.
My XXXX city taxes are {$3400.00} and the mortgage company is claiming that the taxes are {$5300.00}.
|
| 11/24/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
NFM Lending will not pay my real estate taxes on my property and I have an escrow account which has more than enough money to pay it. My taxes are due twice a year. I had to pay my taxes myself in XXXX. They then sent a payment to the county after I had paid out of my pocket and the county returned the money to them. So they have been sitting on this money and will not return it to me. So there is another tax bill that is now due. I have called them on numerous occasions talked to a number of people and they all have a different story. I have emailed them and provided them with a copy of the bill from the county in which my property is located. Each time they indicate they are researching the issue. On yesterday, XX/XX/21 I called again to inquire about the status and was verbally informed that my loan is being sold to another Lender effective XX/XX/21. They have not informed me in writing of this change or provided information on how and where to make my mortgage payment for the month of XXXX. I would have never known this had I not called about when they would pay the taxes. This experience with them has been a total nightmare.
|
| 12/01/2021 |
Yes |
|
- Trouble during payment process
|
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Web |
Servicemember |
|
I am a XXXX XXXX XXXX Veteran that has served the country for the past XXXX years. Because I am 100 % total and permanent XXXX XXXX says I don't have to pay property tax. I've turned in all documents to my mortgage company NFM Lending on XXXX XXXX, 2021, XX/XX/XXXX and XX/XX/XXXX. The required documents included a tax bill from the State of XXXX for XXXX to XXXX, a letter from XXXX XXXX Department of Taxation showing that, and an updated tax bill showing that exemption has been granted. Every time I call for a status I am told that I haven't turned in something. I've called XXXX times and told a different reason. Once I turn in that document then I'm told oh you need " this this and this ''. I was told the last time that the letter doesn't show how much is get discounted. I explained that the Tax Article listed on the document from XXXX XXXX Dept of Taxation is for complete exemption. I asked them to even look up the article and read it for themselves. I am in need of assistance in this. Feel like this company is being taking advantage of Service members and they don't want to do what's right.
|
| 10/12/2021 |
Yes |
- Debt collection
- Mortgage debt
|
- Written notification about debt
- Didn't receive enough information to verify debt
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|
Web |
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I, XXXX XXXX XXXX, entered into a consumer credit transaction with NFM Lending on XX/XX/2020 in which a finance charge was involved. 15 USC 1605 defines a finance charge as the sum of all charges in a consumer credit transaction. The finance charge does not include cash, but NFM Lending accepted cash. The finance charge is suppose to include insurance, but NFM Lending made me pay for insurance separately.
NFM Lending went on to send XXXX XXXX XXXX multiple postcards in regards to buying insurance from an NFM affiliated company, which is in violation of 15 USC 1692 ( b ) ( 4 ) ( See exhibit B and C ). NFM went on to break numerous more violations in respect to 15 USC 1692 and has not responded to the affidavit of truth, cease and desist, and debt validation letter that was sent to them via certified mail ( Please see attachments ).
NFM Inc is continually sending me debt collection letters and furnishing false information to consumer reporting agencies, which is in violation of 15 USC 1692 ( J ) ( a ).
|
| 04/19/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
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I have experienced the following issues with NFM Lending Loan Officer - XXXX XXXX the following occurred : 1. He/They changed my demographic information ( Race, nationality, and number of years lived in previous home ) without my permission and the categories chosen were incorrect.
2. He/They did not disclose all of the title fees as presented by the title company.
3. He/They raised the points fee without warning or discussing with me.
4. I requested a copy of the loan application that was initially submitted of which has not been provided. He has not responded at all.
5. Retaliation in the form of non responsive after I confronted him about his unethical behavior
|
| 01/05/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Struggling to pay mortgage
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|
Web |
Servicemember |
|
NFM lending did not send copy of forbearance agreement for extension of XXXX forbearance for months of XX/XX/XXXX through XX/XX/XXXX. Called lender on XX/XX/XXXX to request extension of forbearance as hardship of unemployment is not resolved. Was told verbally over phone that forbearance was extended for months of XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX however no forbearance extension documentation sent via XXXX Mail to me/borrower. Need CFPB to review lender 's compliance with GSE requirements as no updated forbearance agreement sent out to borrower. Thanks
|
| 08/09/2021 |
Yes |
|
- Trouble during payment process
|
|
Web |
|
|
I have an loan with NFM Lending and they have messed up my account. I have live hear for 14 months and have made 15 payments but they say I'm delinquent. I have talked to several supervisors and this issue is not fixed. I have reached out the VA administration for help and this company has not given them the information to fix my account. I sent NFM Lending my payment history and still they say I'm in delinquent {$990.00}. I have reached to the person who works for the company that sold me this home and the problem is not solved. Can you help me?
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| 06/29/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
Contacted NFM mortgage on XX/XX/XXXX regarding an error with the property taxes on an annual escrow analysis. The mortgage servicer representative was unable to explain on how an annual property figure of {$5400.00} was obtained? The mortgage was closed on XX/XX/XXXX with the XXXX annual taxes of {$4000.00} from the XXXX property tax bill. The representative was unable to explain why NFM mortgage did not research and obtain the XXXX property tax bill from the XXXX county property assessor for the annual escrow analysis.
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| 03/23/2022 |
No |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Problem with a credit reporting company's investigation into an existing problem
- Their investigation did not fix an error on your report
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Web |
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6. I have not received any confirmation on how you verified the alleged account attached in Exhibit C and therefore request that you consider this a final notice to your offices. Past this point, the CFPB will authenticated sworn testimony from my end which I would gladly present in court if need be as evidence of my trying to rectify the subterfuge that you are reporting. **** ( copied from the affidavit attached ) ****
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| 11/24/2021 |
Yes |
- Debt collection
- Mortgage debt
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- False statements or representation
- Indicated you were committing crime by not paying debt
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|
Web |
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I have already sent a cease and desist letter, along with debt validation letter to NFM Lending and they continue to send me letters. They did not send me all the information requested to validate the debt and I am now sending a RESPA qualified written request in hopes of gaining COMPLETE clarification of the account # XXXX. Attached is the qualified written request. Letter sent XX/XX/2021.
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| 07/15/2019 |
Yes |
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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I am the seller of a home that relied on a lender letter saying buyer was credit worthy assets and income verified and ALL DOCUMENTATION HAD BEEN RECEIVED, REVIEWED AND RECONFIRMED. This letter Enticed me to enter into a contract with a buyer that later could not close. XXXX XXXX misrepresentations pertaining to the buyers ability has caused me financial damages.
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| 07/24/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Incorrect information on your report
- Old information reappears or never goes away
|
|
Web |
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Nebraska XXXX XXXX needs to be deleted off my credit reports. It is 7 years old, it is settled and is still on my credit reports. I am trying to buy a home for myself and XXXX children and need this deleted.
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| 01/08/2021 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Improper use of your report
- Credit inquiries on your report that you don't recognize
|
|
Web |
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XXXX XXXX XXXX made an inquiry from XXXX on XX/XX/2019 that I did not authorize. I, and XXXX, have sent many notices to XXXX XXXX XXXX and they have failed to respond to us both within 180 days.
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| 06/16/2022 |
No |
- Mortgage
- Conventional home mortgage
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|
|
Web |
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The lender lied stating my husband had {$100000.00} in his 401K and he didn't causing us to lose our {$2500.00}
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| 02/02/2024 |
Yes |
- Mortgage
- Conventional home mortgage
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- Closing on a mortgage
- Fees or costs after closing
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|
Web |
|
|
|
| 02/02/2024 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
- Fees or costs during the application process
|
|
Web |
|
|
|
| 02/01/2024 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
- Trying to communicate with the company to fix an issue with the application process
|
|
Web |
|
|
|
| 01/16/2024 |
Yes |
- Credit reporting or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
|
|
|
| 03/22/2023 |
Yes |
- Mortgage
- Other type of mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
|
| 03/21/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
|
| 01/02/2023 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
|
| 12/13/2022 |
Yes |
|
- Trouble during payment process
|
|
Web |
Servicemember |
|
|
| 11/28/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Other personal consumer report
|
- Improper use of your report
- Reporting company used your report improperly
|
|
Web |
Servicemember |
|
|
| 11/12/2022 |
No |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account status incorrect
|
|
Web |
|
|
|
| 06/18/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
|
| 04/11/2022 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Incorrect information on your report
- Account information incorrect
|
|
Web |
|
|
|
| 02/08/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
Older American |
|
|
| 01/26/2022 |
Yes |
- Mortgage
- Conventional home mortgage
|
|
|
Web |
|
|
|
| 11/29/2021 |
Yes |
- Debt collection
- I do not know
|
- Threatened to contact someone or share information improperly
- Talked to a third-party about your debt
|
|
Web |
|
|
|
| 10/11/2021 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Trouble during payment process
|
|
Web |
|
|
|
| 12/16/2020 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
|
| 12/04/2018 |
Yes |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
|
| 11/15/2017 |
No |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
|
- Improper use of your report
- Credit inquiries on your report that you don't recognize
|
|
Web |
|
|
|
| 08/29/2017 |
No |
- Mortgage
- Conventional home mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
|
| 01/24/2017 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Application, originator, mortgage broker
|
|
Phone |
|
|
|
| 09/26/2016 |
Yes |
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 12/09/2015 |
Yes |
|
- Application, originator, mortgage broker
|
|
Web |
|
|
|
| 04/23/2013 |
No |
|
- Application, originator, mortgage broker
|
|
Phone |
|
|
|
| 12/19/2012 |
No |
|
- Loan modification,collection,foreclosure
|
|
Referral |
|
|
|
| 12/21/2011 |
Yes |
- Mortgage
- Conventional fixed mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
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