FREEDOM MORTGAGE COMPANY

2016-12-07

Aliso Viejo, CA

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-12-07

Ivanhoe, VA

Loan modification,collection,foreclosure

Mortgage: VA mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2016-12-06

Russell, IA

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-12-06

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-12-05

Succasunna, NJ

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-12-05

Brooklyn, NY

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-12-05

30th Street Train Station, PA

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-12-04

Silver Spring, MD

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Complaint: Freedom Mortgage sent me a check for an escrow overage of ~ {$400.00} in XXXX. In XXXX, they told me my escrow account was short {$190.00} and I had to send them that immediately, but my payment would also be increasing to cover larger escrow in the future. Why did n't they calculate future escrow at the time of the refund, keep the money and keep my payment the same?
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-12-02

Urbandale, IA

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Complaint: I have been trying to get a " stringline '' mortgage done with XXXX since XX/XX/XXXX of this year. I have finally ended my relationship with them due to concerns over private information sharing and their practices are concerning.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-12-02

Arvada, CO

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Our loan had been transferred to Freedom Mortgage, we were on a biweekly payment plan as we wanted to payoff the loan faster. We ended up moving from XXXX Texas to XXXX and sold the home. During closing a payoff amount was requested and we contacted them to notify that the loan would close on XX/XX/XXXX and the payment for XX/XX/XXXX would be included in the payoff amount. A represenative told us this was normal practice and so we went on to close the loan on the XX/XX/XXXX. Once the loan was closed and paid in full, we began looking for a new home in our new XXXX of XXXX. Come to find out our credit had been dinged badly due to Freedom Mortgage saying we had missed XXXX payments!!! WHAT?? I immediately got on the phone to find out what was going on. After countless phone calls and talking to representatives and waiting for supervisor call backs ... .still they can not put me through to anyone who has the authority to look into the matter and realize that NO payments were missed and the loan is closed and paid in Full!! This has prevented us from looking for and applying for a new mortgage. This is by far the worst handling of a situation where a client who has always been in good standing and has completely paid their loan in full, is being completely discredited by a mistake from their company!! It completely disrupts peoples lives!!
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-12-02

Canyon City, OR

Settlement process and costs

Mortgage: VA mortgage

Complaint: I was approached by Freedom Mortgage company via mail regarding a Streamline VA IRRRL. From the beginning ( loan application ) the loan officer put the wrong property values in the loan application. They fudged the numbers in order to make it appear as if the new loan would save me money. I am not XXXX consumer and I know that .5 % is not going to save me a significant amount on my monthly payment. The disclosure said " existing loan '' and those numbers do not reflect my current payment even after I give them my specific loan amounts. I rejected the loan application and told them that once they applied the exact numbers I provided them I would sign the application and we could move forward. The loan associate made the adjustments and we moved forward. I assumed that this was human error and that we could move past this and get on with the process. I specifically told the loan associate that I wanted the principal balance of the loan to remain the same. That I would pay all prepays and escrow at time of closing. I was very specific about this. Flash forward 30 days. Delay, delay, delay. That is what they did. Error after error on closing disclosures, double charging prepays and escrow amounts. Submitting then resubmitting so many erroneous documents that it was confusing to determine which was the last incorrect disclosure. Promising time and time again that they would take care of it then not respond. they pushed out the closing date again and again. Then pretended that each error was in-fact an error and not intentional. This is the name of the game with this particular company ( Freedom Mortgage ). Their claim, a no cost VA refi., yet they manage to fudge the numbers and some how the principal on the loan grows by {$2000.00} to {$3000.00}. The pay off shows how much is required for escrow and interest. I know because I viewed the pay off statement. I also know when my taxes are due and I know how much I have in escrow. This company creates confusion and I think that they are hoping that the customer will just give in and say fine lets just close this loan. It 's a tactic. Confuse consumer with the documents and the figures, tell the customer that is just how home loans work. In the mean time make the numbers are so ambiguous that it appears that the customer is saving money. It is all smoke and mirrors with Freedom Mortgage.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-12-01

Littleville, AL

Loan servicing, payments, escrow account

Mortgage: VA mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-12-01

Avon, CO

Disclosure verification of debt

Debt collection: Mortgage

Not given enough info to verify debt
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-12-01

Ocklawaha, FL

Credit decision / Underwriting

Mortgage: VA mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-12-01

CO

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Mortgage Issues I XXXX XXXX purchased a home on XXXX XXXX, XXXX through XXXX. Conventional loan with 5 % down XXXX credit score and PMI we were told was {$150.00} then the day of closing it was changed to XXXX a month. Within 2 months XXXX sold the loan to XXXX. XXXX serviced the loan until Approximately XXXX XXXX when it was again sold/transferred to XXXX ( XXXX XXXX XXXX, SD XXXX ) XXXX. In XXXX XXXX, XXXX we were sent a statement that our projected escrow was in the negative ( unclear as to how that was I called in and never got a clear answer just stated that the property taxes went up and they would research it. XXXX XXXX the loan is again sold/transfers to Freedom Mortgage Corp XXXX XXXX NJ XXXX NMLS XXXX. I was enrolled in autopay with XXXX, and payed on the XXXX of the month online with Freedom, never missing or any late payments. I called in to inquire about the welcome letter with incorrect name spelling on it as XXXX XXXX not XXXX, and the customer service rep was rude and stated they would n't fix the error without putting what I requested in writing. I stated but I did n't obtain a Loan through you it was transferred and was there anything incorrect that needed to be looked into since the name was spelled wrong. Again I was told I had to put anything in writing I wanted to ask. At this point I get online to set up an account and am very concerned as the website looks like a XXXX year old set it up, is not user friendly, and has no real accessible information. Very concerned at the point I start a Refi through XXXX ( they are months out for closing ). I called numerous times to speak to escrow Dept asking about an analysis from day one, to make sure they have correct insurance information ( XXXX ) and to verify the XXXX XXXX Colorado Tax ID number because I feel something is n't right. I am met with continued hostility and customer service reps that have no information, do n't understand what I am saying or ca n't help me. I am repeatedly told everything is correct. I requested 2-3 times for an escrow analysis and payment history, tax ID and a research team to investigate if somehow something is wrong ( I never receive a thing and each time I call back there are no notes in the computer and so I have to tell a new person the same discussion over and over. Starting with a XXXX XXXX payment I am now required to pay an additional XXXX a month to catch up the negative escrow that no one can tell me why. It is now XXXX XXXX I receive a annual escrow account disclosure statement from XXXX ( whom no longer services the loan ) that they payed XXXX for XXXX XXXX house taxes in XXXX XXXX. I say hmm that 's wrong I pull out the tax paperwork I have an sure enough it 's XXXX a year. I call again to Freedom put in another ticket to investigate what is going on. No response. The end of XXXX XXXX credit union needs a payoff statement for end of XXXX, XXXX loan representatives call Freedom for a request to give a payoff statement and are told no.. I and my wife call in and they state they will send it.. three weeks later XXXX XXXX never receive it and XXXX needs it.. call Freedom Mortgage again very frustrated speak to a XXXXXXXXXXXX and stated we had enough of this ca n't she please send the payoff statement in an email.. I am charged {$30.00} to place the payoff statement in a secure online box on Freedoms website that I ca n't access. After two hours on the phone the lady assists my wife with opening the statement and forwarding the payoff quote to XXXX. Wanting to make sure everything was good for the refi. On XXXX XXXX I call the insurance it 's fine. I call XXXX XXXX Colorado XXXX to verify the tax amount, and guess what there is a Lien against my home. I say XXXX no way give them all the info
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2016-12-01

Galena, OH

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: My mortgage was transferred form XXXX XXXX XXXX XXXX to Freedom mortgage. I was not notified that I would be required to change my account/ loan number for online bill pay. I continued to make my mortgage payments via my bank bill pay until I received a letter from Freedom Mortgage stating I had missed XXXX XXXX payment. I confirmed that the payment was processed with my bank and the payment for XXXX 2016. My bank stated the payment had been sent to my previous mortgage company. Freedom Mortgage assessed late fees and turned the delinquency over to collections hurting my credit.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2016-12-01

Santa Ysabel, CA

Credit decision / Underwriting

Mortgage: FHA mortgage

Complaint: XX/XX/2016 I purchased my home and my loan was sold and serviced by Freedom Mortgage. The mortgage was an FHA loan. In XX/XX/XXXX I received an offer from Freedom Mortgage for the FHA Streamline refinance program and I applied in order to reduce my rate. Initially, the closing was going to occur in XX/XX/XXXX until I was notified the program requires 6 months of on time payments. Given my mortgage was new the 6th payment would not be made until XX/XX/XXXX. I remained in communication with the loan processor XXXX XXXX, who told me everything was fine and once the XX/XX/XXXX payment posted we 'd move to closing. My payments are setup to pull automatically every month on XX/XX/XXXX and have been since the loan 's inception. My Bank account can show this. On XX/XX/XXXX I followed up with XXXX to notify her the payment had been pulled. Around XX/XX/XXXX my wife, who is a co-signer, received a Credit Denial letter. I myself have not received a decline letter. The reason for the denial of credit was due to a late mortgage payment. This is inaccurate and they should know better since they can see my loan payments are pulled by their system every month automatically. When I inquired about this the processor pointed to the loan officer, then loan officer pointed to the processor, and then the processor pointed to the underwriters. Nobody was willing to admit a mistake was made and to correct it. Finally I got a manager 's information from XXXX, her name was XXXX. She too was of no help and would not recognize their mistake. This is unacceptable practice. The denial reason is bogus and easily corrected if they would simply check their system and confirm the loan payments are automatically drawn each month. I called their customer service to confirm we were current, and they concurred. Clearly a disconnect between their departments and information between the two. What is even more upsetting is the rate lock has expired now and with the rising interest rates over the past few weeks I will not get the rate which was originally locked at 3.75 % even if they were to reopen the application. This rate reduction would have saved me over {$25000.00} in interest and I intended to keep my payments the same at which I pay today. This would have eliminated close to 4 years off my mortgage.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-11-30

Sarasota, FL

Application, originator, mortgage broker

Mortgage: FHA mortgage

Complaint: XXXX XXXX ... FREEDOM MORTGAGE*** THIS COMPLAINT IS AGAINST A SPECIFIC INDIVIDUAL FOR NUMEROUS CRIMINAL ACTS ... WE HAVE EVIDENCE IN WRITING*** XXXX XXXX IS GUILTY OF CRIMINAL CONVERSION, RACKETEERING, EMBEZZLEMENT, LOAN FRAUD, ATTEMPTED GRAND THEFT, MORE WHILE INSTRUCTING NUMEROUS INDIVIDUALS BELOW HER TO COMMIT CRIME IN A CRIMINAL SCAM DEFRAUDING THE ELDERLY, MINORITIES AND THE LESS EDUCATED. FREEDOM MORTGAGE COMMITTED LOAN FRAUD WHEN THEY ISSUED THE LOAN. THEY VIOLATED COUNTLESS STATE AND FEDERAL LAWS ON LOAN DISCLOSURE AND CRIMINAL FRAUD. THEY HAVE CONFIRMED LOAN FRAUD BUT THEY HAVE KEPT THE ILLEGALLY OBTAINED FUNDS. XXXX XXXX ALSO SUPERVISED AND COVERED UP EMBELLZEMENT WHILE INSTRUCTING OTHERS TO TRY AND STEAL A HOME ILLEGALLY. SHE ALSO INSTRUCTED OTHERS TO COMMIT LOAN SERVICING FRAUD. THE LOAN FRAUD IS DOCUMENTED IN THE CLOSING DOCUMENTS FOR THIS LOAN THE EMBEZZLEMENT IS IN WRITING AND CONFIRMED BY XXXX XXXX THE LOAN SERVICING FRAUD IS IN WRITING AND CONFIRMED BY XXXX XXXX IN ADDITION, XXXX XXXX SOLD THIS LOAN TO XXXX AND WE NEVER SIGNED OR AGREED TO THEIR ABA ( AFFILIATED BUSINESS AGREEMENT ) SO THIS IS ALSO A VIOLATION OF STATE AND FEDERAL DISCLOSURE FREEDOM MORTGAGE RECEIVED COMPLAINTS PRIOR BUT DID NOT ANSWER THEM. THEIR CUSTOMER SERVICE IS A FRAUD. THE BANKS HAVE ABSOLUTLEY NO FEAR OF THE CFPB. THEY THINK THE CFPB IS A JOKE. YOU NEED TO MAKE A STATEMENT AND PROSECUTE THESE CRIMINAL ACTS. THERE ARE THOUSANDS OF VICTIMS AND BILLIONS IN LOST ASSETS ILLEGALLY SEIZED BY THESE CRIMINAL XXXX ALREADY ... WITH MORE ATTEMPTED THEFT AS WE SPEAK.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed

Disputed: Yes Timely Response

2016-11-30

LA

Settlement process and costs

Mortgage: FHA mortgage

Complaint: Our house was affected by the flood in XXXX, la on XX/XX/2016. We have flood insurance, filed a claim with our flood insurance provider, indorsed the check that was issued, and sent it over night to our mortgage company. The mortgage company advisors/employee 's advised that I was not able to self contract the work even though I have friends that are certified contractors who were willing to help me without charging. They stated several times, that I could submit a letter to corporate, but I was basically spinning my wheels. I have all paid receipts for the material, and have approximately XXXX % of the work completed inside of my residence. I would like to have an inspection, and the insurance money in which I have paid for to be issued to me and my fianc in order to replenish my bank account.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-11-30

Rochdale, NY

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: I initiated this account for short sale on XX/XX/2016 by submitting lender package, offer and all required financial docs good through 90 days. On XX/XX/2016 we spoke to Freedom Mortgage and they confirmed that our package was received and a processor was assigned for review and all documents has been received but as per FHA guideline this loan must be reviewed for a Home Retention option first and it might take up to 30 days for the review to be completed. FHA Loan modification denial letter was sent to me dated XX/XX/2016 due to " Insufficient Income-Ability to Repay. '' Since the loan modification process was denied, we then called Freedom Mortgage on XX/XX/XXXX, to request them to order an Interior Appraisal as there was no interior value for this property. After document review was completed, on XX/XX/2016 I have received an email from their XXXX XXXX stating appraisal has been ordered. I received a call from an appraiser for access on XX/XX/2016 and access was provided on XX/XX/2016 and the value was good through XXXX/XXXX/2016 the appraisal was completed successfully. After several requests, we finally received a copy of the appraisal on XX/XX/2016. Then the value came back very high and freedom mortgage advised to dispute the value. The valuation dispute was submitted XX/XX/2016. On XX/XX/2016 the freedom mortgage XXXX XXXX sent an email stating Loan has been reviewed and determined sufficient value based on current as-is appraisal & AVM. Dispute the offer and supporting documents, the value dispute was denied out and the lender closed short sale process completely without a chance for the buyer to counter. On XXXX/XXXX/2016 we reinitiated the file again for short sale by submitting fresh package with all updated financial good through 90 days, offer and lender package. Then I was advised by the servicer that FHA extended the value expiration and it expires in 6 months which is XX/XX/2016. So, I was advised by freedom mortgage that they will order a new appraisal once the current value expires. When we called in freedom mortgage on XX/XX/2016 to get an update on the short sale review and the status of appraisal order they are advising me that the file needs to go through Home Retention Water fall process again whereas it has not even been 7 months since it got denied for Home Retention option on XX/XX/2016. In regards to the appraisal order they are advising me that they do not know when it will be ordered and they are not giving me any clear update on the file. When requesting to speak with management, I was also denied. Freedom Mortgage representatives are even advising me to call FHA for any updates on this file whereas they are servicing this loan.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-11-29

Carson, CA

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-11-29

LA

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: I was told by Freedom Mortgage when I received my XXXX advance check in XX/XX/XXXX that as long as the checks are under XXXX they will endorse and send the check back out. I also informed Freedom Mortgage that I am the homeowner XXXX and will be XXXX along with my fianc and uncle to help. I received the remaining balance for repairs of XXXX a few days ago and sent it to them and now I am told I need a contractor for them to release funds. I have contracts that I have signed for my windows and fireplace that needs to be paid with the remaining and that is only the beginning. I am not in my home its been 4 months since the flood and I am not making enough progress there is mold on the outside of the exterior that needs to be repaired and I am now told I need a contractor after some of the work has been completed by my family and I. To top it off one of the representative left me on hold and ended the call. My family and I have suffered enough and are still currently displaced. I am also required to continue making monthly payments to Freedom Mortgage and my HOA. My HOA is also guaranteed a portion of this money to complete exterior repairs. Another representative told me they have to make sure the repairs are right however my home has passed framing inspection and electrical. My final inspection will be put on hold if this money is not released because I can not afford to pay out of pocket to fix my home. I am very upset that I was told I will be reimbursed by sending in receipts after I have to pay with my own money. I am already paying to live in a temporary home and my current home is not able to be occupied until the final inspection.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-11-29

Houston, TX

Application, originator, mortgage broker

Mortgage: Conventional fixed mortgage

Complaint: The lender pulled a bait-and-switch on my loan application. I 've been trying to refinance my mortgage since XX/XX/XXXX and the lender has been dragging his feet. XX/XX/XXXX, I locked in a rate ( using my current mortgage company ) and began the necessary steps towards a refinance. I delivered all requested documentation and reappraised my house. I 've repeatedly followed up with the lender asking questions and requesting status updates, but the lender failed to respond. Almost two months after I locked into my rate, the lender finally responded saying that he thought " [ myself ] and the processor XXXX decided to cancel the transaction due to the [ flood insurance ] coverage increase ''. He then said the only way to proceed was to relock using today 's higher interest rates. After my reappraisal, the lender said my flood insurance was insufficient and demanded that I increase my flood insurance to proceed. The lender proceeded to contact my insurance company and told them to increase the coverage. On XX/XX/XXXX, I told my insurer that this increase was ok. After I approved the insurance increase, on XX/XX/XXXX the Loan Processor called again demanding that I increase my coverage. On XX/XX/XXXX, I had a phone conversation with the Loan Processor explaining that my current flood insurance is adequate and provided evidence that my current insurance is satisfactory with my current mortgage company ( which I remind you is the same company I 'm using to refinance ). The Loan Processor said he 'd look into this. The Loan Processor failed to respond. On XX/XX/XXXX, the XXXX Advisor emailed me again requesting that I increase my flood insurance. That day, I again asked what 's driving the increase. The Lender failed to respond. On XX/XX/XXXX, I asked again. The XXXX failed to respond. On XX/XX/XXXX, I asked again. The Lender said he is " trying to get a direct answer '' and " once we hear back, either I or your processor will reach out to you to give you an explanation ''. On XXXX - over a month after my original question - the Lender finally responded saying " there must have been something overlooked with the previous company ''. Since I approved the increase XX/XX/XXXX, I again emailed the Loan Advisor reiterating the fact that I want to proceed with the loan, increase the insurance, and requested the next steps to proceed. The Lender failed to respond. On XX/XX/XXXX, I requested another update from the Lender and he said he thought " [ myself ] and the [ Loan ] processor XXXX decided to cancel the transaction due to the [ flood insurance ] coverage increase '' and the only way to proceed was to continue and today 's ( higher ) rates. This is completely false and I never once said nor indicated that I 'd like to cancel my application. I 've saved all emails and phone records over this period. I never once requested to cancel my loan application and have the documentation to prove it. I have a detailed timeline of all communications with the lender and can affirmatively show that the lender went silent during my loan applications. I 've done everything I can to proceed with this loan, but the Lender has not been responsive. I 'd like to proceed with my loan at the agreed and locked-in terms that we originally agreed to.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response

2016-11-29

Santa Ana, CA

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Complaint: I have been working on a modification with my current lender Freedom Mortgage since XXXX/XXXX/16, the file was deemed complete on XXXX. Every week that I call Freedom Mortgage they provide a different dates it was deemed complete until I read them the previous weeks notes and then they confirm I was correct would be the first problem. The start of the problem is according to the Lender the file goes to underwriting to see if they have all documents and then the file gets assigned to a single point of contact after they decide to deem the file complete which according to the weekly calls was completed on XXXX/XXXX/16 as I mentioned earlier. I was informed that the file would have a decision on XXXX/XXXX/16 and assigned, I called today and the file is not assigned and there was no decision on the XXXX of XXXX nor today which is now the XXXX and we are 40 days from when the file was deemed complete. The representative that I spoke to today stated that the 30 days for underwriting does n't apply to Freedom Mortgage because they can go up to 45 days. According the the CFPB guidelines the lender is to send a notice to all clients stating that the file is completed and the 30 days starts then, no letter has been sent nor received and Freedom Mortgage is not in compliance. I will not let Freedom Mortgage victimize me and take away my rights as a consumer when guidelines have been placed for all services to comply to ensure proper procedures are being followed.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: Yes Timely Response

2016-11-28

Columbus, OH

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I have contacted our current loan servicer, Freedom Mortgage by phone in order to recast our loan. I was told to put my request in writing and fax it to them. I did this in XX/XX/2016. Since then I have received letters stating they are looking into my inquiry, but no satisfactory response has been provided. It has been over 90 days now and they continue to '' research '' this issue. I called again to spoke with some one in customer service last week. She actually knew the term re-cast and told me I would have to pay a 20 % downpayment in order to recast. My original loan was with XXXX and I have the terms of the loan stating that I can re-cast at any time with a 10 % downpayment. I have sent this information to Freedom Mortgage as they are to honor the original terms of my loan and not change them just because my loan was sold to them. At this time I feel I need help just trying to recast my loan which should n't be an issue, but it has become one. By the lender 's delay in proving me specific instructions on how to re-cast, I have had to make XXXX payments at the higher amount. I want to make sure my 10 % downpayment is part of the re-cast process, and not merely a payment toward principle. No one has been able to provide instructions, nor do so in a timely manner. I have waited XXXX months now with no help from Freedom Mortgage.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation

Disputed: No Timely Response