Seterus, Inc.
Consumer Complaints
There are over 4489 complaints on file for Seterus, Inc.. Dated between 2019-02-19 and 2012-03-23.
Complaints Page 97
2015-08-31
Halyoke, MA
Loan servicing, payments, escrow account
Mortgage: FHA mortgage
Complaint: Having problems with my bank Seterus over escrow account. I have called for several months complaining about the escrow balance with no luck. They have changed my monthly escrow payment monthly. I received another letter today. The bank admits they can only take an extra XXXX a year. Admitted in the letter, I was several XXXX dollars over that for the year. The letter then said I have a short fall again and are raising my escrow payment. I 've been told they have to refund overage anything over XXXX by federal law and I was approx. XXXX over for the year. I have spoken with the bank several times and despite the letters saying I 'm over the allowable amount of what they can keep they keep saying I have a shortage. I have asked for escrow history for past couple of years with nothing sent to me. Just new letters saying my escrow is changing again.
Company Response: Closed with explanation
2015-08-30
Washington, DC
Loan modification,collection,foreclosure
Mortgage: Conventional fixed mortgage
Complaint: To Whom It May Concern : My name is XXXX XXXX and I own a property located at XXXX, IL XXXX. This property is being mortgaged and the servicer is Seterus , Inc . I am shocked and appalled by information I just learned about my property being in foreclosure and I had been trying to find out more information and to get a reinstatement letter from Seterus since XX/XX/XXXX, but have not been successful until this week, which I believe is unfair and puts me in an adverse financial position to lose my home.
I have been corresponding with a woman named XXXX XXXX, who works in customer service at Seterus. XXXX XXXX has been like a light at the end of a very dark and bleak tunnel for me because she told me that my house was in foreclosure and had been trying to get a reinstatement letter for me to reinstate my mortgage, since XX/XX/XXXX. XXXX XXXX told me that my mortgage had been in foreclosure since XX/XX/XXXX, to my disbelief, because I had never received any notice of foreclosure or an acceleration letter or anything from Seterus and I had been able to pay my mortgage for some of the months since XX/XX/XXXX.
To be honest and fair, I had been behind on my mortgage during XX/XX/XXXX because I had had issues where my employment fluctuated and I had become unemployed. During those times, I paid what I could, which was usually an amount of {$1300.00} to cover my {$1200.00} mortgage payment and the late fee. I could not pay every month, but I tried to catch up the payments as best I could. I submitted a request for a modification in the early part of XX/XX/XXXX and I am unsure whether this was accepted or not. I was able to make some {$1300.00} payments that were accepted by Seterus, but then, when I tried to make a payment in either XXXX or XX/XX/XXXX, the payment was rejected.
I submitted more paperwork during this time to seek a modification and I gave all of my documents that were required. I had found out that I could be considered for a modification from some paperwork I received in the mail that was asking for me to avoid foreclosure by submitting the paperwork to see if there were options to a foreclosure available to me. This is why I submitted the paperwork. I had no idea at this time that I may have been in foreclosure, since I received paperwork telling me there was a way to prevent foreclosure and that Seterus was to help me with my options.
I never heard back about whether my request for a modification was accepted or not, but the week before XX/XX/XXXX, I called in to speak with a Seterus representative to see if there was anything else needed for my modification request. I spoke with a woman whom I do not remember the name of and she told me that everything required had been submitted by me, but that I should call back every week to see if there was something needed, so that a decision could be made quick and in a timely manner.
Week after week I called Seterus to find out if anything was needed for my modification request and I was told that everything was still being considered and that there was nothing more required from me. On XX/XX/XXXX, I called in and spoke with a man named XXXX XXXX, who works for Seterus customer service. During the call, XXXX XXXX told me that I only had XXXX chances for a modification on the kind of loan that I had and that I had already used up XXXX of those modifications. He told me that if I was approved for a modification at this time, that I would not have any more chances for a modification. I asked what my options were and XXXX XXXX told me that I could reinstate the loan and I offered to do this and was expecting reinstatement paperwork to come through the mail. I was told it would take XXXX business days.
7-10 business days came and went and I never received any reinstatement paperwork. I found out that I am in foreclosure, but being considered for modif
Company Response: Closed with explanation
2015-08-29
Coral Springs, FL
Loan modification,collection,foreclosure
Mortgage: Conventional adjustable mortgage (ARM)
Company Response: Closed with explanation
2015-08-29
Franklin Lks, NJ
Loan modification,collection,foreclosure
Mortgage: Conventional fixed mortgage
Company Response: Closed with explanation
2015-08-29
Coral Springs, FL
Loan modification,collection,foreclosure
Mortgage: Conventional adjustable mortgage (ARM)
Company Response: Closed with explanation
2015-08-28
Glens Falls, NY
Cont'd attempts collect debt not owed
Debt collection: Mortgage
Debt was paid
Company Response: Closed with explanation
2015-08-28
Oak Ridge N, TX
Loan modification,collection,foreclosure
Mortgage: Other mortgage
Company Response: Closed with explanation
2015-08-28
Chicago, IL
Settlement process and costs
Mortgage: Conventional fixed mortgage
Complaint: The borrower, XXXX XXXX was approved for a XXXX My City trial modification in XXXX 2015, to be completed XXXX 2015. He successfully completed the trial and has been waiting for the last 4 months to get his final modification documents. This is the XXXX client I 've had with Seterus that has experienced a ridiculously long delay in receiving final modification documents. This is also the XXXX complaint against Seterus that I have filed with CFPB. The standard turaround time for permanent modification documents is 30-60 days. I checked with XXXX and they confirmed that it is up to the servicer to create the modification documents and then it 's forwarded to the investor for approval. Seterus has n't even gotten to that part of the process yet.
Company Response: Closed with explanation
2015-08-28
Columbus, IN
Loan servicing, payments, escrow account
Mortgage: Conventional fixed mortgage
Company Response: Closed with monetary relief
2015-08-27
Albuquerque, NM
Loan modification,collection,foreclosure
Mortgage: Conventional fixed mortgage
Company Response: Closed with explanation
2015-08-27
Loan servicing, payments, escrow account
Mortgage: Other mortgage
Company Response: Closed with explanation
2015-08-27
Palos Park, IL
Loan servicing, payments, escrow account
Mortgage: Conventional fixed mortgage
Complaint: I originated a 20yr fixed mortgage on XXXX with XXXX Bank and at closing, I received a Federal Private Mortgage Disclosure for Residential Loans. XXXX See Attached XXXX This showed that the " Original Value '' of the property was $ XXXX at that time. The document also shows that paying PMI was supposed to be " Automatically Terminated '' on XXXX. At this point, the principle reached 78 % of the " Original Value '' of the property. The payments were $ XXXX/month. I confirmed that the loan is a XXXX backed loan.
XX/XX/XXXX I obtained a loan modification with XXXX XXXX XXXX, the new servicer of the loan, through the Home Affordable Modification Program, HAMP. ( Also see attached ) The principle balance, interest rates, and the maturity date changed by the agreement. This would of course change an amortization schedule, I realize that. During the modification process, there was no appraisal done on the home nor was I ever notified that the " Original Value '' of the home was to change from the original loan conditions. I received no disclosures of any kind nor was I notified of a new PMI " Automatic Termination '' date. The servicing of the loan had been taken over by Seterus XXXX Inc. shortly after the modification. I noted that interestingly, the $ XXXX/month payment stayed the same and noted that the modification was never recorded into XXXX XXXX records. If my PMI was adjusted to reflect the new loan conditions, why would the payment still be identical?
Recently, I have been attempting to refinance my mortgage with XXXX XXXX as I qualify for the HARP Program. They tell me that since I am currently paying PMI, it would be a requirement of the new loan but based off of the rent market conditions. Essentially, I would have to again pay PMI for the next who-knows-when. This has caused me to contact Seterus and inquire about my PMI and find a of my paperwork. This is when I discovered a potential problem in what I was told vs. given in writing. When I have not been getting hung up on, Seterus has been interesting to work with to say the least. I keep getting different answers from everyone I speak with and the last was a supervisor. He told me that the only way for me to drop PMI was to send in a request and {$350.00} for an appraisal. I know my loan is currently nowhere near 80 % LTV under current market conditions but it is well under that based off of the last appraised " Original Value. '' I asked for him to provide me with an actual date for " Automatic Termination '' and he told me that there is not one. The only way to drop it is by me initiating a " Cancellation. " It is interesting to note that the Consumer Financial Protection Bureau released a bulletin dated just earlier this month warning loan servicers of violations of the Homeowner Protection Act. ( Attached ) When I called them and explained my issue, they told me to definitely file a complaint.
My contentions are this : A ) I was never notified of any change of conditions of my PMI and as a matter of fact, the payments actually stayed the same even though the loan amounts and terms changed.
B XXXX The Modification Agreement specifically states on page XXXX ( F ) that unless the terms are " Expressly modified by this agreement ), the initial load documents remain in effect.
C XXXX The reply to my inquires to Seterus appear to be in violation of the Homeowners Protection Act by not only not disclosing PMI terms, but also appears that the PMI terms were never re-calculated to reflect the modification. XXXX See attached document HPA.pdf page XXXX ( D ) )
Company Response: Closed with explanation
2015-08-27
Bowerstown, IN
Deposits and withdrawals
Bank account or service: Checking account
Company Response: Closed with explanation
2015-08-26
Santa Rsa Bch, FL
Loan modification,collection,foreclosure
Mortgage: Conventional fixed mortgage
Company Response: Closed with explanation
2015-08-26
Pittsford, NY
Loan servicing, payments, escrow account
Mortgage: Conventional fixed mortgage
Company Response: Closed with explanation
2015-08-26
Belleville, NJ
Loan modification,collection,foreclosure
Mortgage: Other mortgage
Company Response: Closed with explanation
2015-08-26
Oakland, CA
Loan modification,collection,foreclosure
Mortgage: FHA mortgage
Company Response: Closed with explanation
2015-08-26
Collierville, TN
Loan modification,collection,foreclosure
Mortgage: Other mortgage
Company Response: Closed with explanation
2015-08-26
OR
Loan modification,collection,foreclosure
Mortgage: Conventional fixed mortgage
Complaint: I have been working with XXXX on a loan modification, through mediaition withwith the assistance of a housing counselor. This process continued for11 mos, all the way to underwriting. Once all documents had beensatisfied my housing counselor withdrew services on XXXX XXXX 2015. ( Note typeNoteEntered onEntered byEntered by organizationXXXX Sent confirmation email XXXX/XXXX/15 XXXX XXXX Pacific XXXX XXXX Mediation Case Manager XXXX Since both parties agree to postpone, I have canceled the Resolution Conference scheduled for XXXX XXXX/XXXX/2015. I 've reserved a new time and date : XXXX/XXXX/2015 XXXX at XXXX. The new date and time works for the XXXX, XXXX and XXXX XXXX/XXXX/15 XXXX Pacific XXXX XXXX Mediation Case Manager XXXX I have re-assigned this case to XXXX in XXXX. The XXXX will be able to do over the phone counseling. I gave their contact info to the XXXX. XXXX/XXXX/15 XXXX Pacific XXXX XXXX XXXX Case XXXX Public General Note Sent XXXX status check e-mail to all parties. Parties have til XXXX NOON to report ready or req postponement, XXXX reports " ready '', The XXXX decided he needed more time for counseling. The XXXX agreed to his req. XXXX/XXXX/15 XXXX XXXX Pacific XXXX XXXX Mediation Case Manager XXXX FOR COMPLIANCE : At this time, the beneficiary has not cited a pooling and servicing agreement as a limitation or prohibition on modifying the terms of the obligation. The NPV may not be used until a complete financial package is received and a decision is reached. XXXX/XXXX/15 XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX XXXX Sent confirmation email XXXX/XXXX/15 XXXX Pacific XXXX XXXX Mediation Case Manager XXXX XXXX XXXX Since both parties agree to postpone, I have canceled the Resolution Conference scheduled for XXXX XXXX/XXXX/2015. I 've reserved a new time and date : XXXX/XXXX/2015 XXXX at XXXX. This works for the XXXX, works for XXXX, and XXXX. XXXX/XXXX/15 XXXX XXXX Pacific XXXX XXXX Mediation XXXX Manager XXXX XXXX XXXX From XXXX Good morning, I know the deadline has passed, but I am hoping I can still request a postponement. This file service transferred from XXXX XXXX XXXX to Seterus, and I will be the assigned legal assistant for this file going forward. This loan will not be fully boarded in the new servicer 's system until XXXX. I do not believe this allows Seterus enough time to review all documents provided, request anything additional ( if needed ), or to render a decision if all necessary documents have been received. In the interest of having a more productive and meaningful resolution conference for all parties involved, I would like to postpone the meeting so Seterus has sufficient time to review the homeowner for any loss mitigation options available. Please let me know if the other parties agree to this reschedule request. Thank you. Kind regards, XXXX XXXX, XXXX XXXX/XXXX/15 XXXX XXXX XXXX XXXX XXXX Mediation Case Manager XXXX Sent 2wk status check e-mail to all parties. Parties have til XXXX XXXX to report ready or req postponement, XXXX reports " ready '' XXXX requested a last min, pp due to a service transfer. I gave them till XXXX today to get mutual XXXX/XXXX/15 XXXX XXXX Pacific XXXX XXXX Mediation Case Manager XXXX Sent XXXX status check e-mail to all parties. Parties have til XXXX XXXX to report ready or req postponement, the XXXX reports " ready '' XXXX/XXXX/15 XXXX XXXX XXXX XXXX XXXX Mediation Case Manager Public Counselor Note All dox requested have been uploaded and faxed to lender. pc to lender letting them know. PLEASE NOTE that with this activity XXXX has concluded all contractual responsibility for housing counseling, and will no longer be involved in this case. All correspondence should be directed to Grantor. It
Company Response: Closed with explanation
2015-08-25
Lexington, NC
Loan servicing, payments, escrow account
Mortgage: Conventional fixed mortgage
Company Response: Closed with explanation
2015-08-25
Julian, CA
Other
Mortgage: Conventional fixed mortgage
Company Response: Closed with explanation
2015-08-25
Valrico, FL
Loan servicing, payments, escrow account
Mortgage: Other mortgage
Company Response: Closed with explanation
2015-08-25
Worcester, MA
Loan modification,collection,foreclosure
Mortgage: Conventional fixed mortgage
Complaint: Dear Madam/Sir : [ Today 's date XXXX/XXXX/2015 ] Today, I contacted Seterus, Inc. by phone ( XXXX ), to request a copy of my current monthly statement, which reflects all of the missed payments up to the currnt date. I usually login into my account online to obtain any information I need, but because the last statement reflected on my account, as of today, was not current ( only went up to XXXX 2015 ) I was forced to call to request the information by phone, expecting it would be mailed.
The first representative I spoke to told me that I would not be able to receive a current statement that lists the outstanding monthly amounts because I was automatically opted out of receiving monthly statements and placed into a category of borrowers who now only receive coupon payment vouchers. This is not a request that I personally made, but that Seterus placed me in. I proceeded to ask the representative for a copy of my current monthly statement, but he refused to process the request. He stated that he needed to know why I wanted a copy of my account. I explained I needed an accurate record of all missed payments. He refused to process my request. I asked that he transfer me to his manager.
His manager, XXXX XXXX, was placed on the phone. At the start of the conversation he explained that Seterus could provide a statement, but could not provide a letter. I said that a statement would be fine, as long as it provided the amount I owe of the missed monthly payments. He then began to ask questions on why I needed the statement and what it was being used for. I explained that it was for my records so that I could confirm the exact amount owed in order to bring my acount current. He then began to create reasons he thought on why I needed the statement. I explained I needed an accurate record in writing. I told him that I have always received statements. I am not sure why Seterus would cancel my ability to receive paper statements without my consent. XXXX . XXXX, the Manager then said that it was Seterus ' perrogative to do as they choose. When I told XXXX . XXXX that I now have all of the information I need to discuss this matter with the proper authorities and that I was happy the call was being recorded, he then said that Seterus could provide me with the letter with my account information, but that it would have to be requested from a department called " Correspondence ''. The address provided was : XXXX XXXX XXXX, XXXX, CT XXXX. He said it would take 30 days to process the request.
I was refused a copy of my current statement and told that this information was inaccessible to me at this time. The explanation provided was that I have been placed in a category of borrowers who have been forced to receive coupon vouchers without their consent. I just want a current copy of my montly statement.
Company Response: Closed with explanation
2015-08-25
Raymond, NH
Loan modification,collection,foreclosure
Mortgage: Other mortgage
Company Response: Closed with explanation
2015-08-25
Foothill Ranch, CA
Loan servicing, payments, escrow account
Mortgage: Conventional adjustable mortgage (ARM)
Complaint: I just filled this out but web site timed out just before I could hit submit. I do not think you received my complaint form so here it is again.
I have a home mortgage serviced by Seterus on a property in XXXX XXXX. Since XXXX, 2015 they have been taking my extra principal reduction payments and applying them to the regular monthly payment. It is an adjustable loan. Anticipating increased interest rates by the Feds I am trying to reduce the principal. I have talked to XXXX different agents of Seterus monthly since XXXX and they have all said it is a " system '' problem. The " system '' does not recognized the additional principal even though I send it in as a separate check and note it is for principal reduction. Each agent is very apologetic and each has said numerous customers have complInd about the same thing! I have come to a conclusion this may be a corporate scheme to increase the company profits by allowing this to occur over 7 months with no system fix in place. Now, because the " system '' did not recognize my XXXX payment since they messed up my billing statement they have advised me the " system '' will likely automatically report the XXXX payment as non paid/delinquent on my credit report! They acknowledge they received the XXXX payment plus an addition XXXX but the " system '' did not recognize the payment! They promise they will submit to the credit bureau it is their error but they have been making promises to fix this monthly problem since XXXX with no remedy yet! I think the agents are sincere as they readily apologize, they admit many customers are complaining and they promise to make file notes " requesting '' the " system '' fix this. For these reasons I believe it is a corporate level fraud scheme. The Seterus agent I spoke to today I could mKe a XXXX XXXX payment by phone and he could submit it thereby the " system '' would update my account and it would not be considered delinquent. That is ridiculous. I can not imagine how the corrective action could not be in place over the course of 7 months with numerous customers complaining unless it is deliberate. The more people they have that have delayed principal reduction the more interest they collect.
Company Response: Closed with explanation