Caliber Home Loans, Inc.
Consumer Complaints
There are over 3498 complaints on file for Caliber Home Loans, Inc.. Dated between 2019-12-02 and 2012-02-14.
Complaints Page 5
2019-08-09
NC
Closing on a mortgage
Mortgage: VA mortgage
Complaint: On XXXX/2019 I initiated a new home loan through Caliber home loans. XXXX XXXX was assigned to me as our loan consultant. I was unable to find a property in North Carolina that suited my needs and progressed to looking for a property in New Jersey. I am a XXXX Vet with 34 yrs XXXX XXXX. I wrote XXXX XXXX with Caliber home loans and told her VIA email I am going to broaden my home search to New Jersey and was making sure my loan would still apply in New Jersey. On XXXX XXXX, 2019 she said that would not be a problem. Me, and my son drove to New Jersey On the evening of XX/XX/XXXX to look at a few properties. Ultimately we found what we where looking for in New Jersey. On XX/XX/, 2019 I wrote XXXX XXXX for Caliber homes VIA email letting her know that we found a property we would like to make a offer on and we needed a Pre approval. Doing so I also attached our realtor in NJ XXXX introducing the two to making sure that she received the preapproval on the loan. I was then requested by XXXX XXXX from Caliber homes to give the physical address of the property we wanted to buy which is XXXX XXXX XXXX. XXXX XXXX NJ XXXX XXXX XXXX,2019. We put {$1000.00} dollars earnest money and had to hire a attorney here in New Jersey to put the contract in review. During this process XXXX XXXX updated our profile on Caliber homes site with the New Jersey address. On roughly XX/XX/XXXX or XX/XX/XXXX XXXX XXXX updated our file. XXXX XXXX is the one putting all of our information in the system for us on Calibers end. Me, and my son commute back to North Carolina waiting on my property to close officially there. During this process I repeatedly wrote Ms. XXXX VIA email and calling her direct number which goes directly to voicemail major lack of communication through this entire process. We come to an agreement on price of the home at {$310000.00} ordered the inspection of the property costing us {$570.00}. We wrote XXXX XXXX telling her that we have come to agreement on the price. She requested a hard copy of the contract from our attorney in New Jersey. So I did not hear anything from XXXX XXXX for a good while. On XXXX XXXX, 2019 I received a email from XXXX XXXX requesting Financial paperwork for my SS income, XXXX, and XXXX pension. I took photos of everything requested and sent them into her. She called me on the phone making a couple days after validating a few things mention she would call me back in 30 minutes if she needed me. I asked are we good to go for a closing on XXXX XXXX,2019 she stated yes give or take a few days do to VA loan processing time. I told her ok I am making arrangements for housing in New Jersey from XXXX XXXX,2019 to XX/XX/XXXX are closing date. At this point are inspection is scheduled in New Jersey ( {$570.00} ) and our closing is about to take place in NC on my old property. We leave North Carolina on XXXX XXXX, 2019. We have ( {$1700.00} ) dollars in moving trucks, and car haulers and are transitioning North. We get to New Jersey on XXXX XXXX,2019 are property in North Carolina is officially closed. My realtor XXXX XXXX, and our attorney Mr. XXXX with XXXX, XXXX XXXX XXXX XXXX are requesting a commitment letter from XXXX XXXX. They had emailed XXXX XXXX as well as myself with no response on XXXX, 2019 14 days before we are supposed to close on the property. I tried to call and once again straight to voicemail with no return call. At this point I had to invest {$2400.00} in a hotel room from XX/XX/XXXX to XXXX XXXX 2019 waiting on closing. My realtor XXXX XXXX once again tried to reach out VIA email to XXXX XXXX for the commitment letter no response once again. So finally on the XXXX XXXX,2019 I called Caliber home loans corporate office XXXX, tx XXXX ( XXXX ) XXXX and finally got a voice I talked to the guy and stated I have been trying to contact XXXX XXXX for our commitment letter. He miraculously transferred me right to her. She stated to me there's no way she could close by the XXXX of XXXX and her Pipeline with the loan process I am ( assuming ) does not go that far. At this point she stated she was transferring my loan to a loan officer in New Jersey for Caliber homes names XXXX XXXX XXXX XXXX ( XXXX ) XXXX. Mind you we are 9 days before closing on this property XXXX XXXX has been working on for 7 weeks at this point. Within a hour of me finally speaking with XXXX XXXX on XXXX XXXX, 2019 XXXX XXXX writes my realtor back stating ( unfortunately the application ( I ) had in place for Mr. XXXX was not for NJ it was for NC And NJ has different tax mileage I can have someone in retail branch get the file closed out for you but would only be able to get you a conditional approval complete by XX/XX/XXXX and then could have the property closed on the week later. ) Never said a word to me about her error of not putting in the address of New Jersey opposed to North Carolina. XXXX XXXX gave me the go ahead before we even made a offer on the XXXX XXXX NJ address putting it in the loan processing on the caliber home page. I contact XXXX XXXX on XXXX XXXX,2019 to see what in the world is going on. I was at our closing attorneys office at this point when I called him and got a text back asking to call me back later I wrote back please this is urgent needing a commitment letter VIA text. XXXX XXXX finally calls me midday on XXXX XXXX,2019 requesting my financials again stating he just got my loan transferred to him and there was no way he could close on this loan by the XXXX of XXXX. XXXX stated he would have to start a entirely new application on me and he would have to call me back. I get a call back from XXXX XXXX later in the afternoon with him stating ( I don't know how she prequalified you for this loan! There's no way you qualify with the higher tax 's in New Jersey ) I stated back to XXXX you are kidding me right. He said no my underwritter 's would want to see assets or 5 % to 10 % down. At this point I stated that would be impossible we are 9 days from closing XX/XX/XXXX. With first months mortgage, rest of closing costs, and deposits on utilities. I could not make that happen. XXXX stated to me that's the only way he could move forward with the loan Caliber has had for almost 8 weeks at this point. Now I am stuck in a hotel in New Jersey without a home. I will be invested {$7500.00} to {$8000.00} dollars by the time I can get back to North Carolina. I am now homeless, and can not get a XXXX with a car hauler until XX/XX/XXXX due to low inventory with XXXX in New Jersey. I will be obligated to losing the earnest monies and attorney fees. I need help from your firm please. As stated before I am a XXXX Veteran. I have to hire people to help me load the uhaul 's. Ive done everything I was requested to and I have Email documents to validate XXXX XXXX knew not only we where going to New Jersey she plugged the information in on Caliber site. But also verifying she could have us closed on within 7 days after before transferring my loan to XXXX XXXX. I have had to rent a storage facility here in New Jersey to store my possessions waiting on the closing. Now as I mentioned I am homeless and my credit has had soft pulls on it through caliber lowering my scores. And not having much money left to my name due to the negligence. Please can you intervene in this situation. Thank you, XXXX XXXX ( XXXX ) XXXX All the dates I have provided are as accurate as possible. The Emails validate the dates and knowledge of the New Jersey address.
Company Response: Closed with explanation
2019-08-08
Henderson, NV
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-08-08
Vicksburg, MI
Attempts to collect debt not owed
Debt collection: Mortgage debt
Debt was result of identity theft
Company Response: Closed with explanation
2019-08-08
Walthill, NE
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Complaint: Hello, We're working with Caliber home loans. We are 8 months behind on mortgage payments and having been working with them to get account back to good standing. We received a notice to reinstate the mortgage on XX/XX/19and prevent foreclosure they needed payment of {$9500.00} by XX/XX/19. We sent them the payment {$9500.00} by XX/XX/2019. In talking with them today XX/XX/2019they returned payment because it didn't include XX/XX/XXXXpayment. They said to call later today to see what they will decide, we've made the payment to get the account reinstated and avoid foreclosure. We're still working on keeping the account in good standing XX/XX/XXXXgoing forward.
Company Response: Closed with explanation
2019-08-08
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-08-08
Stevenson, MD
Closing on a mortgage
Mortgage: VA mortgage
Complaint: My wife and I recently completed a refinance of our existing home mortgage with Caliber Home Loans mid-XX/XX/2019, who was and remains our home mortgage company. We had questions about the numbers throughout the entire process with the Caliber Senior Loan Consultant as they changed weekly, if not daily. We have several email exchanges between Caliber and myself or my wife. On the day of the closing the numbers didn't make sense and we even reached out to the closing company along with Caliber staff as we were concerned. The Caliber Senior Loan Consultant advised over the phone that we had nothing to worry about and everything would be fine. We were still to be able to skip one month payment and would receive our entire escrow from previous loan back without any additional fees. We decided to keep move forward with closing on the evening of XX/XX/2019 thinking everything would be fine.
On XX/XX/2019, we received a refund check in the mail from Caliber Home Loans in the amount of {$530.00} as being ESCROW/UNAPPLIED CASH DISBURSEMENT ACCOUNT, but we were supposed to receive a check for quite a bit more after closing on our new loan. It should have been around {$3400.00} or so. We sent of emails and attempted to make calls only to be ignored for a day or so. Finally received a response from the Senior Loan Consultant saying he/they would be more than willing to answer our questions. After sending yet another email, we received a response from the Senior Loan Consultant where he broke down where our funds went, which was quite a bit different from what we were provided previously or even given in our closing documents. As part of the new loan breakdown provided, we were charged {$1700.00} for Homeowners Insurance, {$560.00} of prepaid interest ( {$43.00} per day from 6/18/19-07/0/19 ) and {$2000.00} for the 1st half of taxes, but after looking at the current mortgage escrow, there is only {$1200.00} accrued. Somewhere there is about {$2900.00} - {$3000.00} unaccounted for, which we believe we should have received vice along with the {$530.00} check. Given the check received says this is Paid in Full we have not and will not deposit the check and asked Caliber to look into this. To date, nothing ... Not a call, email response and Caliber Home Loans customer service is worthless as they can't provide us any information. To add ... we were required to pay {$960.00} + ( personal check ) towards closing because of upfront escrow costs, but we do not see where that has been applied to the loan, taxes, insurance, etc??? Initially our loan was {$20.00} cheaper, but it went up the {$20.00} throughout the process, which we questioned and were told once againthis was due to upfront/escrow costs at closing on refinance. The numbers just dont add up.
It seems during the refinance process, Caliber Home Loans decided to charge us {$3000.00} of accrued interest during the process. This was never discussed with us and is nowhere in any of the documentation we received before or during closing. Had we known this ahead of time, we more than likely wouldnt have proceeded forward. We were advised by the Senior Loan Consultant that we would be able to skip the XX/XX/XXXX payment and no other fees ( none ) would be assessed while going through Calibers refi process. Additionally, we are being charged {$87.00} for a late fee!?!? We were told by the Senior Loan Consultant that if any late fees were to be accessed, he would ensure it got rectified. To date, nothing has happened or changed. Additionally, we had to pay {$30.00} to stop payment on our previous loan with Caliber Home Loans to ensure we didn't pay for the month of XXXX in order to skip one months payment.
At this point, we just do not feel comfortable with Caliber Home Loans or how things have been handled with our refi. We also feel like we have been lied to WRT the funds and it seems to continue. Once again the {$3000.00} of supposed accrued interest and the late fee of {$87.00} are just incorrect. Caliber Home Loans was never forthcoming with how the funds would be handled and from our perspective, lied throughout the entire process. Period! {$3000.00} might not seem like a lot to some, but it means a lot to us and Caliber Home Loans continues to ignore us.
Needless to say, we could not be more frustrated or disappointed with the entire process or with Caliber Home Loans.
Company Response: Closed with monetary relief
2019-08-07
Aliso Viejo, CA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-08-07
VA
Struggling to pay mortgage
Mortgage: Other type of mortgage
Complaint: My Home Loan is with Caliber Homes and it is listed under XXXX XXXX estate. I had to file bankruptcy because I was under financial strain because of everything in the home needed fixing and I am on a fixed income. Caliber had given me a loan modification during the time I filed bankruptcy. My bankruptcy attorney had to get a document signed by the court accepting the loan modification and it took him 2 years to do this. Once the paper was signed the attorney stated that the mortgage company did not want to work with me any longer and the company wanted to file a stay. Next, the mortgage company stated that the would do a new modification including all the areas. Now I am submitting papers for the 3rd time starting all over again. The company is asking for documents that they already had in the system. I am having a hard time with this mortgage company and I am getting of trying to fight for this home.
Company Response: Closed with explanation
2019-08-07
E Hills, NY
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-08-07
Katonah, NY
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-08-06
Jacksonville, FL
Trouble during payment process
Mortgage: FHA mortgage
Complaint: We are experiencing medical hardship due to a medical XXXX. When we became 2 months behind on our payment we notified the loan servicer, Caliber Home Loans of our efforts to resolve our balance and keep our home and provided proof of the medical hardship. We also requested payment options but were denied. Therefore we resumed making our monthly payments. However, Caliber kept reversing our payments and claiming we incurred NSF fees because we didnt have enough funds in the bank ; which wasnt true at all. We checked numerous times with our financial institution and ensured all payment information were accurate. We requested numerous times over the phone and in writing, that Caliber investigate the back to back payment reversal errors and remove the fees associated with them. They refused to remove any fees or investigate the errors since we first discovered them in XX/XX/XXXX. There are approximately 4 or 5 payment reversals on our account. Caliber has refused to respond to our numerous written requests regarding this. Yet, in XX/XX/XXXX, Caliber flagged our account as foreclosure status and blocked our ability to submit our regular full monthly mortgage payment amounts. In XX/XX/XXXX, when we had saved up more the past due balance, we requested a formal reinstatement payment amount and discovered that Caliber Included all of the NSF fees, along with late fees and attorneys fees into the balance. We then couldnt afford to reinstate as we expected. We asked for payment plans and were refused payment options. Weve submitted numerous loss mitigation applications, but Caliber denied them and stated we needed to wait until our account has been with them for 12 months from our first payment date. As soon as we reached the 12 month period, we submitted a complete loss mitigation application to Caliber. They refuse to confirm that they have received a complete loss mitigation packet as they have done before, and refuse to offer us loan modification option. Its been two months and weve demanded a response regarding our eligibility for loan modification and the results of the payment reversal, still they refuse to respond to our requests.
Company Response: Closed with explanation
2019-08-06
E Hills, NY
Incorrect information on your report
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-08-06
Vicksburg, MI
Trouble during payment process
Mortgage: VA mortgage
Company Response: Closed with explanation
2019-08-06
Penn, PA
Trouble during payment process
Mortgage: FHA mortgage
Complaint: I refinance through XXXX XXXX XXXX, they sold my mortgage to Caliber Home loans in XX/XX/2018 my XXXX payment was Made in XX/XX/2018 I received my property taxes and realized Caliber had not included my fall taxes on a parcel I have which was to be included. I faxed the information at least twice uploaded to my docs which they had requested twice, had numerous email and phone calls. Was even told it was paid at XXXX point in XXXX I received notification from XXXX county courthouse if my taxes were not paid I would risk losing my property to foreclose i made XXXX more calls theast time threatening to refinance because I had received a escrow analysis stating my payment was increasing from {$880.00} to {$1100.00}. I was assured the taxes would be paid and Id be reimbursed any difference due to the taxes not having been paid when I wood have got the fall discount, when my other taxes were paid. I again spoke with someone from escrow about my taxes because I knew they had not increased and they assured me it was correct and the loan officer at XXXX XXXX XXXX had not reported the correct amount and that was why my account was short and payment increased. I then contacted XXXX XXXX and she assured me that the acct information she provided was correct as XXXX people review it. We then discussed refinancing. I then in the end of XXXX due to having my credit run because I was going to refinance received an offer from Caliber about an FHA refi through them so I spoke with a loan officer in their department who told me there was no way my takes went up that much it was not possible as they had last told me. So again I called the escrow department this time spent almost XXXX minutes trying to explain how they had to have something wrong the gentleman argued with me and said he reviewed it all with his boss and it was correct, after hanging up, i again review my escrow analysis statement and went to the county website punched the tax parcel numbers paid and discovered they had paid my sister who lives beside me with a completely different last name taxes. I the next day contacted Caliber again giving them the tax parcel number that were correct and my sisters, and was assured it would be taken care of by XX/XX/XXXX at the latest, I called again to talk to customer service because the tax department couldnt address the tax from he fall that was paid and I didnt receive credit even though I was promised I would be for it not being paid in XXXX and received foreclosure letters. The woman stated she could see I made several attempts to provide all the information they needed starting in XXXX when i realized it was not paid & it would be escalated also to provide me with the difference. She also told me to call and check on the status. I made several calls being told each time there was no determination. I have had to pay to payments at the increased amount even though Caliber acknowledges they have the wrong parcel. I called in the weekend and was offered no explanation as to why it has not been fixed even though it was given a date if XX/XX/XXXX, I called today and was basically told Im not getting refunded for the fall tax even though I supplied the information to be paid at the discount rate and that I needed to provide them with more information regarding the tax parcel that is mine so they can verify theyre paying the wrong taxes ( my sisters ). I have provided them this information several times and found this mix up which they wouldnt even acknowledge when I asked on my own. I do not feel it is my responsibility to continue to give them the information I already have. I also was told today its not a big deal because I will get my money back, unfortunately it is a struggle to come up with the difference and Im at risk for falling behind on other debt.
Company Response: Closed with explanation
2019-08-04
Santa Ysabel, CA
Struggling to pay mortgage
Mortgage: FHA mortgage
Complaint: In XX/XX/2018 I requested a mortgage assistance package from my mortgage servicer. We were falling behind due to reduction of available hours for me and my wife became seriously I'll putting her out if work. She has been out of work for almost 2 years and is not receiving any SS XXXX payments ... .nothing ... no income for a year now! We filled out the mortgagers Assistants packet and even sent them more information than requested ( Drs designation of illness ). The finally approved us for a modification tests was {$110.00} more a month then what we were paying! ( Nog sure how that helps us if we are struggling to make our original payment amount ), but moved passive to the back of loan. The instructed us to make 3 trial payment each being due before the last day of the month. We made first trial payment On XX/XX/XXXX. When I tried to make our second payment on XX/XX/XXXX Caliber home loans agent XXXX that the could not take mh payment as Caliber had transfeted my loan to a new mortgager. I never recieved any notice that this was going to happen. Yhr then told me that I would need to make the second payment to our new mortgager! First off ... they gave Mr the wrong contact information for the new mortgager and I called back s again recieved the same incorrect information. I was the able to find them by searching the web and made contact. The new mortgager ( XXXX XXXX XXXX ) they told me ..yes my loan was being transferred to them however they would not officially take it over until the XXXX, and that I should make mr payment to Caliber. I called Caliber back and again was told ... no ..I had to pay it to the new loan mortgager as we don't manage you loan anymore. So again I called back to XXXX and told them again what Caliber had said and again they told me that they do not own my loan yet. So come the following Monday I called Caliber again. I got the same answer. In addition they informed me that because I missed the payment date that I would be no longer eligible for the modification because I didn't meet the modification requirements even though they refuse to take the payment. So I had to wait in for XXXX to completely have all of my information and officially take over my loan after the XXXX to speak with them. Once I did inform them again what happened and they asked me to send them proof that I was a approved for a modification from caliber. I faxed them the acceptance paperwork from caliber showing that I did qualify and what my trial payments were. A few weeks went by I hadn't heard anything from XXXX so I contacted them again. Then for me at the time that they didn't receive my paperwork even though I had an fax confirmation. I then re faxed it again to XXXX. Few weeks more went by I heard nothing. I called back to XXXX and basically they told me that caliber sent them a letter saying that they had put me a caliber put me into foreclosure which I was never told that and I shouldn't have been as I was going through the process of them with for the modification. XXXX said they didn't receive very much information from caliber and that they were trying to get more information about it. That they would let me know. Of course nobody ever let me know anything. Then few weeks more went by I called back and they at that time asked me to email or fax their packet for modification or assistance. Sorry did that and also send them again another copy of the approval had gotten from caliber for modification. About 5 weeks went by and we just received a letter now stating that congratulations you are approved to short sale your home and deed in lieu. Congratulations!!! How is that congratulating me that I'm going to lose my house is viewed as a good thing!! I thought they were trying to help me! But now I feel like all they're trying to do is take my property!! Of course I called them really upset. Ask to speak to a manager. Spoke with her at length basically the girl on the phone to answer the phone originally told me I owe it doesn't matter they are going to review it again pretty much that's their decision so there's nothing you can do about it. Problem also is that I have a FHA loan XXXX XXXX loan and I know there are guidelines they must follow when there are the FHA loan provider. I provided them all of the information but in their letter they sent me congratulating me that I was going to lose my house, it says things that aren't correct like it says did not Mark that this is my primary residence when I know it did that was the very first thing on their questionnaire for Mortgage Assistance I asked that box and huge X I also says that we didn't give them any any of the information they ask for for my wife 's XXXX which I sent them even the doctors proof of illness. I said them all the same thing that I sent caliber. I just feel at this point that they're don't want to deal with me and they're trying to take my property! I spoke to XXXX XXXX and they are going to investigate also. But these companies seem to all be really the same they're very poor quality and the customer service is really lacking their phone stuff doesn't work half the time you can't get ahold of anybody and when you do all you always get the same answer I don't know we can't help you or the things I get all the time. There's any information you need from me and further details please let me know.
Company Response: Closed with explanation
2019-08-02
Caldwell, ID
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Closed with explanation
2019-07-29
Aberdeen, MD
Trouble during payment process
Mortgage: VA mortgage
Company Response: Closed with non-monetary relief
2019-07-29
Birch Run, MI
Closing on a mortgage
Mortgage: Conventional home mortgage
Complaint: On XX/XX/XXXX we purchased an XXXX 's farm house in XXXX with my realtor XXXX XXXX using XXXX XXXX XXXX and the lender, Caliber Home Loans , Inc . The previous owner was an investor who purchased the home for approx. $ 70k and did major renovations. The interior was completely restored from the exterior studs in, including hardwood flooring, subfloors, heat ducts, new wiring throughout with main fuse box, water lines from the meter in, total kitchen renovation including appliances, 3 total renovated bathrooms, as well at a new 2000 sq. ft concrete driveway. Seller was asking {$190000.00} which we assumed was market value due to upgrades. We put in a purchase agreement. At time of the PA, we we working with a different lender, XXXX XXXX XXXX. They ordered an appraisal that had come back under asking price of {$160000.00}. The seller agent requested a review for it was $ XXXX difference. The appraiser re-reviewed and came back with approx. $ 6k more, still a major disparity. The selling agent rescinded PA. The selling agent came back to table with an offer for us to use their lender, Caliber Home Loan and felt confident it would appraise at asking price and that we would not have to pay for the second appraisal. The appraisal from Caliber Homes came in at asking price. We closed with {$1200.00} mortgage payment with an estimated monthly escrow was {$150.00}.
Fast forward to XX/XX/XXXX. Even though we had timely paid our monthly payments, Caliber Home Loans sent us the yearly escrow statement that was showing arrears of {$3700.00}. Within 4 months of ownership, in XX/XX/XXXX, we had already been in escrow arrears over {$1500.00}. And yet, no one alert us of such. It stated that Caliber had not collected enough to cover the tax increase. The closing disclosure stated projected monthly estimated taxes was {$150.00} but should have been {$320.00}. That is more that 100 % increase. I called Caliber Home Loans and all they could tell us was that the taxes increased and they do not have any control. We went to the XXXX XXXX Treasures office for explanation. We were told that we had been 100 % homestead for the whole year, so that was not the reason for the tax increase. We reviewed the tax history print out of our home. Prior to the investors purchase of the house in XXXX, it had a state equalized value of {$29000.00} due to previous owners long ownership. Once this investor renovated the home, the state equalized value uncapped and more than doubled to {$67000.00}. The treasurer stated this happens all the time that the wrong tax year is used for mortgage processing which is deceiving and financially devastating to new home buyers. We were also told, and, its noted in the Michigan Tax payers guide that the local assessor determines the assessed value of property based on the condition of the property on XX/XX/XXXX of the previous year. We had viewed this property, to consider purchasing, between XXXX and XXXX XXXX of XXXX, so the renovations had been completed and the value of the home accounted for by the local government. At anytime after XXXX XXXX and, before our mortgage closing the accurate state equalized value of {$67000.00} was available to accurately be declared for potential purchase costs. We had made it clear to the realtor and lender at the time of this mortgage that we had reached our comfort price point with a {$1200.00} monthly mortgage payment and could not go any higher due our structured economic situation at that time. So that means someone did not do their job correctly or the lower State equalized value was used to make the monthly payment more attractive and affordable.
After careful review of the Initial Escrow Account Disclosure statement, the closing disclosure, the tax information form, the borrower settlement statement form, and the XXXX settlement statement from our mortgage paperwork, as well as getting real estate counsel on RESPA, Truth in Lending and Good Faith Estimate and how it affects buyer and lenders, we found gross errors that we now see as fraudulent or at best negligent. These gross errors increased my monthly mortgage payment from {$1200.00} to {$1700.00}. That is unreasonable to expect a consumer, in our income bracket, to bear. That is over {$120.00} a week increase.
It was also found the very expensive XXXX XXXX tax was omitted from the Initial Escrow Account Disclosure statement, the tax information form and the closing disclosure.
The questions we have : How can an appraisal have a $ XXXX disparity, between lenders, only to work in the best interest of the seller? Does it not make the impression of collusion?
How can a credible, ethical lender not know that is it not possible for a {$190000.00} home to have a {$1200.00} monthly mortgage payment? Just based on experience of processing thousands of mortgages? How a lender could expect a buyer to know that? is that not what the lender is paid for? They are the experts.
How could any broker/ lender expect a buyer, ( who is not a licensed real estate agent & who pays the experts thousands of dollars to bring currant and accurate information to this legal document ), know the tax rate of a home of interest. Its not required to have the buyer research and bring findings to the mortgage closing to compare information.
How can a lender/ real estate broker ( who is paid and licensed to oversee that the mortgage is executed with currant, accurate, legal information, i.e., Good Faith ) did not verify current tax information? Is that what they are legally required to do and are paid thousands of dollars for?
How can a lender leave off vital property tax information from the mortgage contract and not be held accountable for the repercussions it takes on the buyer?
This has put undue hardship and stress on us. We stand to lose our home or file bankruptcy. We want to keep our home but are not prepared for a dramatic increase in our mortgage payment that is not due to our errors. We are not disputing the taxes. We understand, it is what it is, but the lack of currant, accurate documentation caused us to make a financial decision based on bad information. We would have turned down this mortgage if the monthly payment was over {$1200.00}.
Caliber Home Loans was sent a Notice of Error letter. Their response was not acceptable and did not fit the errors committed.
How does this get rectified or made whole again? We are asking for restitution in the most urgent manner. We appreciate any and all help you can afford us.
Company Response: Closed with explanation
2019-07-26
Longview, WA
Struggling to pay mortgage
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-07-26
Vicksburg, MI
Trouble during payment process
Mortgage: VA mortgage
Company Response: Closed with explanation
2019-07-25
W Henrietta, NY
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2019-07-25
Vicksburg, MI
False statements or representation
Debt collection: Mortgage debt
Impersonated attorney, law enforcement, or government official
Company Response: Closed with explanation
2019-07-25
Vicksburg, MI
False statements or representation
Debt collection: Mortgage debt
Impersonated attorney, law enforcement, or government official
Company Response: Closed with explanation
2019-07-25
Struggling to pay mortgage
Mortgage: FHA mortgage
Company Response: Closed with non-monetary relief
2019-07-24
NJ
Applying for a mortgage or refinancing an existing mortgage
Mortgage: FHA mortgage
Complaint: On XX/XX/2019 I was contacted by Caliber Home Loans to refinance, the only product offered was a FHA streamline refi. After having a third party review the closing docs, I come to find out that this was not the best option for me. The agent failed to explore all the refinancing options available to me. Since this process lacks an appraisal and it wasn't done I was placed back on a FHA loan when I could of saved more money by going conventional. Contacted the company and the manager agreed that Conversation could of been a better option but offered no way to remediate the companies lack of guiding me in the right direction. Not being presented with all the options has cost me about XXXX in the back end of the loan and about XXXX dollars more a month.
Company Response: Closed with explanation