Seterus, Inc.

2016-02-09

Allentown, PA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Dear CFPB Agent, I am filing a complaint about my previous mortgage servicer, Seterus Inc. with the business address located at XXXX XXXX XXXX XXXX, XXXX XXXX, XXXX, OR XXXX, tel : XXXX, due to the fact i have not received answers to my inquiries and requests for an audit of my account and payments made on my mortgage in 2015. The mortgage servicer did not properly credit my account on a number of occasions XXXX XXXX, XXXX and XXXX XXXX and statements mailed out had errors in them. I contacted Seterus multiple times via phone requesting the corrections to be made and a corrected statement be sent indicating the corrections to ensure proper crediting of my account. As I had not received the corrected statements or any response to my request in months, I followed up with a written request sent via fax on XXXX XXXX, 2015 and subsequently again on XXXX XXXX, 2015. I received a generic letter from Seterus on XXXX XXXX, 2015 confirming the receipt of my inquiry. However, as of today i have not received a satisfactory response and believe the servicer owes me money for the incorrectly processed payments. On a separate note, this company has no established procedures for handling client inquiries. When i contacted them via phone in early XXXX to follow up on my fax as of XXXX XXXX, I was told that the correspondence is being handled by a different department and the agents were not able to assist me. Instead they gave me a different fax number. However, I indicated to the agent that the only fax for their company that is known to me is listed on the statement and nowhere on the statement or any mail ever received from Seterus is there a note stating that for correspondence a fax should be sent be to a different fax number. Even the website does not provide any other fax number. How is a client supposed to know if the company does not print accurate contact information on their correspondence with the client. When i brought it up to the attention of the manager on XXXX XXXX, 2015 XXXX XXXX XXXX XXXX, she shrugged it off and said it was not her problem. In summary, Seterus Inc should be investigated for the lack of transparency in handling customer inquiries and accountability for their errors. It appears there are no established process in place to handle basic operations such as customer inquiries and no quality control processes to prevent errors in payment processing. Unable to resolve my issues and faced with extremely poor customer service for the past 5 years i decided to transfer my loan to another company. Seterus Inc should not be in business.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-09

MO

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: As of XXXX XXXX Seterus, Inc. purchased my mortgage from XXXX. I have never missed a payment or even been late making a payment. XXXX, XXXX I received a statement from Seterus stating that a payment was not due in XXXX, XXXX. I called them and ask if they were sure this was correct. They assured me I would not get into trouble I could skip the month of XXXX. Great news I could buy XXXX for my entire family and pay my taxes. Last SaturdayXXXX XXXX, XXXX I receive a letter stating I am in default and owe {$610.00}. I called the company XXXX. This girl and I went round and round. She said I had n't made a payment for XXXX. Isaid I am looking at the statement-it cleared XXXX XXXX and that I had mailed a payment for XXXX on XXXX XXXX. They had not received it at that time. The girl said wait just a minute which turned into 30 minutes. She came back on the line and said that Seterus had applied someone else 's payment to my account in XXXX and so told me I did not have to pay, but they found the mistake and now I must pay it and she was going to let me speak to her supervisor because it was n't my fault. So XXXX XXXX, supervisor, got on the line. I was so angry. I understand mistakes happen, but I am XXXX years old, retired on Social Security and XXXX small pensions and have no extra money. I told XXXX XXXX this and he agreed that I could pay {$50.00} extra a month until it is caught up ( more when I do n't have to pay gas bill ). He said if anyone gave me trouble to talk to him. So yesterday I receive two statements from Seterus one due XXXX XXXX for {$1200.00} and one due XXXX XXXX for {$1800.00}, so they are tacking on penalties and interest. Can they do this to me? They have 3 locations Physical address in XXXX, OR, payment address in XXXX XXXX, and correspondence in XXXX, CT. Thank you for any assistance you can give. My name is XXXX XXXX and the loan number is XXXX.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2016-02-09

South Florida, FL

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I have been trying to negotiate a Short Sale with Seterus since XXXX 2015 I have filed a complaint before and Seterus responded by stating this property was foreclosed on XXXX XXXX Since than we have been working with Seterus and their attorney firm XXXX XXXX XXXX. The sale that occurred on XXXX XXXX, 2015 the lender was the high bidder by default. The clerk of court thus filed its Certificate of Sale. During the statutory ten day period before the finalization of the sale, objection to the sale was filed. Although the court denied the objection, it also withheld the Clerk from finalizing the sale until the lender would consider the short sale offer. All parties were ordered to mediation which occurred on XXXX XXXX, 2015 with the parties including the lender agreeing to reconvene in three weeks after the lender further instructed and authorized the loan servicer and thus its attorney to deal with the short sale submission. XXXX XXXX was assigned to this file. from XXXX XXXX XXXX. She submitted the short sale package to Seterus and we got a decline letter without much reason behind it. When I called Seterus they tell me there are no notes and all they can see is that this property has been foreclosed on. Seterus and their attorney is having problems understanding that the property is not yet an REO and is indeed still owned by the borrower. The sale is not confirmed and the title transferred to the lender as the winning bidder until the Certificate of Title is issued by the Clerk. The Court Order forbids that event from occurring until the lender deals with the short sale offer pending. I keep emailing XXXX from XXXX XXXX XXXX since after they declined the short sale they told us to resubmit with a higher offer which we did not once again no one is responding and they keep stating it is an REO.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-08

Lake Shore, MD

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-08

Nooksack, WA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-08

Washington, DC

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: I had previously filed XXXX complaints against Seterus - XXXX and XXXX regarding unethical and illegal practices. After filing the last compliant, I sought assistance from an HUD approved agency, Washington XXXX XXXX for foreclosure prevention. We completed and submitted a complete package to Seterus. Seterus responded with a letter ( attached ) dated XXXX XXXX, XXXX with a payment agreement. The first payment of {$1300.00} was due on XXXX XXXX, XXXX. On that date, I called to make the payment and was informed the letter was sent by mistake and I had to pay {$3900.00} to keep from moving the foreclosure ( letter attached ). Because I have a lot of equity in my home, it would be an accelerated foreclosure. The least amount I could pay to prevent this was {$3900.00} on that day before going into a new month. Under this threat and pressure, I authorized the payment for that huge amount and then borrowed to cover the funds. Acknowledgement of payment on XXXX/XXXX/XXXX is attached. However, on XXXX XXXX, XXXX, I received a demand letter of foreclosure due in less than 30 days on XXXX XXXX, XXXX ( attached ). I have sent numerous complete packages to Seterus and after I submit a complaint for non-response to my request, they say something is not complete. Problems have been going on since my account has been with Seterus such as saying I had declared bankruptcy ( which I never have ) saying I was in foreclosure ( when the account was current ) increasing monthly payments, etc.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-07

Itasca, IL

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: In mid 2013 we reluctantly signed a deed in lieu of foreclosure with Seterus Mortgage. We had very poor Response from Seterus ... ..but having no other choice, we signed the paperwork. To this day, we have yet to receive our promised check and our Attorney advised us to get a response from Seterus before he decides to do anything further.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-05

Sarasota, FL

Loan servicing, payments, escrow account

Mortgage: Other mortgage

Complaint: On XXXX/XXXX/XXXX, I sent Seterus, the servicer of my loan, a request to complete a new Escrow Analysis and spread the shortage over 60 months. I sent a follow up XXXX/XXXX/XXXX, XXXX/XXXX/XXXX, and XXXX/XXXX/XXXX. I have had no response. Seterus approved a loan modification XXXX/XXXX/XXXX, but did not perform an escrow analysis prior to the modification, which ended up increasing my payment by {$190.00} per month. It should have been performed prior to the modification. And, a forbearance was approved from XXXX. The Seterus representative advised me in XXXX XXXX that the only thing I would be paying during the forbearance period would be taxes and insurance, then then ended up applying all monies to loan principal and interest. This is the reason for the large shortage. This servicer is extremely difficulty to work with. I previously filed complaints with you for XXXX reasons : they declined a loan modification 7 times in 4 years, citing that I did not provide all requested documents, which I had fax proof that I had provided, and a second time, in order to have the loan modification paperwork completed, as they took over 7 months to confirm and provide documents. Both times, they stepped up, only with your intervention. I am quite frustrated. I believe that I own XXXX of the few properties they could actually make money on if they foreclosed, and either the left hand does n't know what the right hand is doing, or it is with intent, so that they CAN foreclose and make $ XXXX-XXXX. They have continually misapplied, suspended payments, and then cited the original note, the forbearance or the modification, wherever it please them and they make the most money. They have also charged late fees and 'inspection fees to be sure I am living in the property ' since XXXX XXXX, XXXX due to misapplication of payments I made, even though the payments were the exact payment they requested for each specific date.I was not even aware of the misapplication of payments or the fees until XXXX XXXX, and they refused me access to the website and stopped sending statements to me due to Chapter XXXX filing in XXXX XXXX. Misapplication of funds also effects principal reduction clauses over the first 5 years of the modification term, and hurts my already damaged credit further. I truly believe this is all with intent, and need an advocate to renegotiate all of this with them, especially reapplication of payments made. Please help me negotiate these issues. Thank you, XXXX XXXX
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-05

Poplar, CA

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Complaint: This is the second appeal regarding our mortgage at XXXX and Seterus. After two years of losing docs from us and then losing our file and delaying our efforts at foreclosure and/or deed-in-lieu, Seterus now claims they ca n't foreclose or grant us a deed-in-lieu or a modification because they " just discovered '' a lien on the title. Our loan had been sold and resold from XXXX to XXXX to Seterus, the last one, XXXX to Seterus, with XXXX failing to file a reconveyance. So, XXXX still can claim our title and Mortgage? Except now XXXX is out of business and someone from that 'out of business ' company may still have the original legal mortgage that my wife and I signed. How did Seterus " buy '' it without clear title from diligent professional title check? This started when XXXX and my wife and I being hit with XXXX bills and asking Seterus for help. Are we being conned or played by unscrupulous real estate/mortgage gimmicks?
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-05

Atlanta, GA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: Hello - I received an Escrow Account Statement for my mortgage dated XXXX/XXXX/XXXX indicating there was a surplus of {$1700.00}. My mortgage is serviced by Seterus Inc., loan # XXXX. In the past, Seterus was very good about issuing a check for a surplus. I waited about 30 days but did not receive a refund. My loan is current, in fact, I make extra payments. Sometime in XXXX I called them inquiring on the status of the refund. they indicated that it takes up to 8 weeks. I waited ... I called back in XXXX, spoke with XXXX XXXX and she indicated that that it would take another 4 to 6 weeks, I asked to have this escalated as this did n't sound right. I called back the next day and spoke with XXXX and explained I was calling to confirm the escalation. she indicated there was no escalation. asked to speak with a supervisor ... during the transfer was disconnected so I called back. was connected with XXXX ... he was very nice but again said there was nothing he could do and needed to wait another 4 to 6 weeks. Asked to speak with a supervisor and was connected with XXXX. He requested a 'task ' to issue a check for the surplus but again it would take 4 to 6 weeks. I reminded them that according to the rules, the surplus should have been disbursed within 30 days back in XXXX. I feel that they are in violation and taking advantage of me ... Asked him to escalate the request. Called back today XXXX/XXXX/XXXX, they show a task to disburse the surplus but again will be in 30 days. I 'm very frustrated and not convinced that I will receive a check ... this company is not responding properly and i have asked to file a complaint their response is 'a task has been submitted and you should receive a check in 30 days '. I feel like I may not see the funds ... They have my money ... They have benefit ... I 'm at a loss of what to do ... Can you please help.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-04

Allenwood, NJ

Making/receiving payments, sending money

Bank account or service: Other bank product/service

Complaint: Seterus is the mortgage loan servicing company to which I send my monthly payments. My payments are always made within the first week of each month and are " posted '' to my account within 3 to 5 days. However, my payment of XXXX 2015 took 15 days to be posted to my account. The company charged me a late fee with the following month 's statement. Instead of paying that fee, I sent them a letter with a copy of my cancelled check showing how long it took THEM to process it. I received no response at all from my letter, until the late charge appeared on my most recent statement again.
Company Response: Closed with monetary relief

Disputed: No Timely Response

2016-02-04

Smyrna, GA

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-03

Katonah, NY

Loan modification,collection,foreclosure

Mortgage: Conventional adjustable mortgage (ARM)

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-02

Citrus Heights, CA

Credit decision / Underwriting

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-02

Bayway, NJ

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-02-02

Manhattan, NY

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-02

Albuquerque, NM

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-02

Sacramento, CA

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Complaint: Our mortgage company Seterus has failed to provide us with monthly statements for several years. They have varying reasons as why this is the case, all of which are not their fault. In XXXX 2015, I filed a complaint with CFPB ( Case # XXXX ) due to the severity of our financial situation at that time. We never received a " regular '' statement by mail, but our online access was restored. I still have online access, but the most recent statement is XXXX 2015. I am now missing 6 months of statements. Surely this ca n't be legal.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-01

Columbus, OH

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-01

MI

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Complaint: I was notified by my current servicer less than 15 days prior to the effective date that the servicing of my loan had been sold. In the notice I was provided with a name and address of the new servicer and it was further stated in the notice that the old servicer would no longer accept payments on my loan. I was not provided with an account or loan number with the new servicer to associate my payment with and I was not contacted by the new servicer prior to my next payment being due. The old servicer pulled my payment automatically out of my bank account on the due date and therefore I am left with less than 15 days to attempt to get a check out to a new address via snail mail with no account number to apply it to. I know that as a consumer I have rights regarding the sale of servicing rights of mortgage loans. In particular I have the right to m notification by both parties with a 15 day minimum. My concern is that everything in terms of late fees, default interest rates and the benefit of legal advantage to be gained by the new servicer in creating confusion, not following the law and providing documents and notice verifying and reconciling the sale of servicing rights, address, account numbers and pertinent information so business can resume seamlessly and transparently. Large corporations have the advantage because it is them vs. all of the consumers individually. It 's like a mouse trying to defend itself against a lion and all of the lions lawyers. They have everything to gain by taking advantage and claiming that they are just clumsy at handling their XXXX dollar business. They will get only a slap on the hand and only that if one of the people they are taking advantage of has the resources to call them out and bring a law suit and win against their legal team at that. Also, it 's hard to tell if this whole loan servicing change is n't some sort of scam to hijack a massive number of loan payments by some criminal, cash a bunch of checks in a makeshift office and retire somewhere off the map. In any case, the least likely people to suffer any damage in any of this is the old servicer and the new servicer, where all of the risk involved falls directly on the consumer. Further, the name of the new servicer is completely unknown to my bank and has no credible presence on the Internet. Actually on the contrary. When you type their name into XXXX all you see is link after link of horror stories about them.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-01

Belle Haven, VA

Loan modification,collection,foreclosure

Mortgage: FHA mortgage

Complaint: Back in XXXX 2015, I got in contact with a XXXX XXXX XXXX from XXXX XXXX XXXX. We went through information on stopping my foreclosure. I was told to pay {$3000.00} and they could get my foreclosure turned around. I was told not to contact my mortgage lender at the time Seterus and that XXXX XXXX XXXX will handle the proceedings from there. I then received a letter in XXXX that my property had been foreclosed on. I spoke with XXXX XXXX ( XXXX ) from who works for a Realty company. I filed a complain with XXXX and they said they they would review the matter and get back to me. When I email them I just receive a generic email back. I 'm writing to ask what I can do about this matter.
Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-01

Lincoln, CA

Loan servicing, payments, escrow account

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-02-01

NC

Loan modification,collection,foreclosure

Mortgage: Other mortgage

Complaint: In XXXX of XXXX, I sent in a letter of hardship to Seterus, Inc. along with a Borrowers assistance form and all the necessary documents they asked for in order to obtain a modification on my home mortgage. Through XXXX XXXX, XXXX XXXX and XXXX XXXX, I continued to send in documents as they requested. I would call them bi weekly after that to ascertain the progress of my modification, each time them telling me that it is in the process of being reviewed. Even after receiving a default notice I called them and they still told me that my modification was still being reviewed. On or about XXXX XXXX, XXXX, I called Seterus and asked him for the status of the modification, they said it was still being reviewed. On XXXX XXXX, XXXX, I called Seterus again and spoke to an upper level manager who told me ( after doing two days worth of research to find out what was going on ) his closest friend was the one who was supposed to be handling my modification and she " dropped the ball ''. He asked me if I can send in a completely new Borrowers Assistance Packet with all new information. He said this was important since they dropped the ball and my property automatically went into foreclosure status because they could not do the paper work in a timely manner. On or about XXXX XXXX, XXXX, I was served papers from the sheriffs Department notifying me that a court date has been set for XXXX XXXX, XXXX for my property to be foreclosed. It is clear through this summary of events, supported by copious documentation, that Seterus, Inc., by and through its agents, has, with gross mismanagement, neglected and mishandled crucial documents concerning my home loan and failed to take any necessary steps to investigate, evaluate or assess my eligibility for a modification. Seterus, Inc., by and through its agents, not only failed to send out any notification of denial of modification, but the decision of denial of modification was made during a phone call on or about XXXX XXXX, XXXX, with Seterus agent XXXX XXXX, when it was realized, in his words " they dropped the ball '' and failed to process my modification at all. Since all conversations are said to be recorded by Seterus , Inc., I encourage the retrieval of this and other recorded conversations between agent XXXX and myself, so that the full scope of this situation can be exposed. The acknowledgment by agent XXXX XXXX that Seterus Inc. is at fault for neglecting my documents resulting in foreclosure proceedings is in itself paramount. Seterus, Inc. never sent out any notification and never contacted me directly by phone or any other means to advise me that my paperwork may have been incorrectly filled out. Nor did Seterus, Inc. send out notification or contact me by any other means to advise me that additional paperwork was needed from me in order to assist in obtaining a modification on my loan. When both XXXX XXXX and XXXX XXXX told me that my paperwork was incorrectly filled out, I explained to them that I called Seterus, Inc., in the presence of an XXXX counselor ( HUD approved Counselor ) and that the representative of Seterus advised us how to fill out that form and all subsequent forms, they both told me that the Seterus agent I spoke to advised me incorrectly. It is my belief that when speaking to any agent of Seterus that I am in fact speaking with Seterus , Inc . Therefore, ANY information obtained from a trained agent would be the same as obtaining information and policy from Seterus Inc . They trained this person and put them in that position, I had no way of knowing if the information was correct or incorrect. It does not make sense to talk to the CEO every time I call to ask for clear guidelines to policy for fear that any one agent would give me incorrect information.
Company Response: Closed with explanation

Disputed: Yes Timely Response

2016-01-30

Town Center, NJ

Loan servicing, payments, escrow account

Mortgage: FHA mortgage

Company Response: Closed with explanation

Disputed: No Timely Response

2016-01-30

W Warwick, RI

Loan modification,collection,foreclosure

Mortgage: Conventional fixed mortgage

Company Response: Closed with explanation

Disputed: No Timely Response