Village Capital Investment LLC

2019-12-03

Clermont, FL

Applying for a mortgage

Mortgage: Other type of mortgage

Complaint: In XX/XX/2019 I recieved a notice for the possibility of streamlining my current FHA loan to save money on a monthly basis from Village Capital. I called to inquire and the representative took some basic information and informed me that she would not be able to answer all my specific questions but that a mortgage specialist by the name of XXXX would be contacting me. A day later when XXXX contacted me, I inquired about my concerns and legitimacy of the streamline program and made it expressly clear that I would do research and get back to him if I was even interested in pursuing said streamline loan. After research, I found red flags and of course did NOT want to use their company nor did I ever call back to give any form of " go ahead '' or confirmation that I wanted the process to begin. My omission to call back was clearly not acceptable and I can only assume that after several unanswered calls, XXXX took it upon himself to pull pay off information from my current lender and process my loan. I did not authorize anything. When I recieved closing documents I became very alarmed and called both XXXX and the additional contact numbers that were given in the packet of documents. Nobody answered and I left a very detailed message explaining I NEVER gave permission for even my information to be inquired upon, let alone documents prepared for signing. I even warned them that it was an invasion of consumer privacy and that I would be reporting such information if they did not stop the process immediately. Low and behold yesterday, XX/XX/2019 I got a voicemail from a notary confirming my appointment, at my home, for closing! I was unbelievably upset that Village Capital could even begin to go as far without any acknowledgement to even request for payoff amounts, let alone proceed to closing when I provided them with NO information needed to proceed with any legitimate lending. I immediately cancelled that appointment and explained to the second party notary of said fraudulent company. I feel my privacy is extremely violated and my current and legitimate loan with XXXX XXXX could somehow be in jeopardy of being transferred. I have signed nothing, consented to nothing, and want nothing but for Village Capital and Investment to erase all information they have on me as if I never even called them to inquire.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-12-01

ME

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

Complaint: My husband and I attemped to close on a FHA Streamline Refinance with Village Capital and Investing in XX/XX/2019. They sent a notary to our house on XXXX with the closing documents and had us a make out a bank check for {$870.00} to their title company, XXXX XXXX. Several weeks later, on the afternoon before XXXX, the company contact my husband to say that the " paperwork was all wrong '' and that they needed to send out a notary " that night '' to have correct documents signed. My husband was away from home for work, and I was already out of state visiting relatives for the holiday. Village Capital never submitted payment to our original lender, which put us at risk for falling behind in payments. Due to their errors and poor customer service throughout our interactions with them, we do not want to proceed with this transaction and we want a full refund of the {$870.00} check we submitted to them.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-11-29

Houston, TX

Trouble during payment process

Mortgage: FHA mortgage

Company Response: Company believes the complaint is the result of a misunderstanding Closed with explanation

Timely Response

2019-10-18

Itasca, IL

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

Complaint: On XX/XX/2019 we were closing on our Mortgage refinancing loan with Village Capital & Investments, LLC. I changed my mind and sent by fax the NOTICE OF RIGHT TO CANCEL on XX/XX/2019 before the cancellation deadline. When I spoke with my current lender I was told they no longer had my loan that it had been funded by someone else Village Capital. I spoke with the agent at Village Capital but he only tried to convince me to stay but I do not want to stay with them I dont trust the business practice. I also called the office only to get told they would email someone but no one has contacted me and I am frustrated and worried about whats going on with my home mortgage.
Company Response: Company believes complaint represents an opportunity for improvement to better serve consumers Closed with explanation

Timely Response

2019-10-07

Shreveport, LA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: VA mortgage

Complaint: On Monday, XX/XX/2019 I received a sales letter from Village Capital and Investment, LLC. The letter was designed to mislead me, a veteran, into accepting an IRRR loan. I shared my information with them. I agreed to nothing. I was told I would be contacted the following day. I did a XXXX search and ran across this article. I am contacting to say that this company is still trying to swindle myself and fellow veterans. Please put a stop to this company. If I have any other complaints due to them now having my information and using it against my will what can I do in that situation? Thank you in advance for promptly answering my question. Have a blessed day!
Company Response: Company believes the complaint is the result of a misunderstanding Closed with explanation

Timely Response

2019-09-25

North County, MO

Struggling to pay mortgage

Mortgage: FHA mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-09-20

Blackwood, NJ

Attempts to collect debt not owed

Debt collection: Mortgage debt

Debt was already discharged in bankruptcy and is no longer owed
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-09-17

Cumming, GA

Closing on a mortgage

Mortgage: VA mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-08-14

NJ

Trouble during payment process

Mortgage: FHA mortgage

Complaint: I have been trying to remove my FHA mortgage insurance and my mortgage company is denying my request. My wife and I bought the home in XXXX and FHA streamline refinanced in early XXXX. The loan was sold to XXXX XXXX shortly after the refinance. This year, I made a large principle curtailment payment of {$9500.00} on XX/XX/XXXX to reduce my Loan to Value ratio below 78 % and sent a request for XXXX to remove the mortgage insurance via USPS on XX/XX/XXXX. Within the month, my loan was sold to another company ( Village Capital & Investment, LLC ). I sent my first request to Village Capital ( via USPS ) to remove the mortgage insurance on XX/XX/XXXX and did not receive a response from them. I called their customer support in late XXXX and finally received a response via USPS letter dated XX/XX/XXXX that said my loan to value ratio was currently at 81 %. I called them again on XX/XX/XXXX and spoke with someone in the escrow department who ( incorrectly ) tried to tell me that loan to value ratio is calculated on the starting mortgage principle amount, not the value of the home at original purchase. As requested, I sent an email followup to the escrow department on XX/XX/XXXX to refute that claim and to tell them that the FHA connection printout they provided had an incorrect " Unpaid Balance '' ( it didn't include the principle curtail payment ). I have called several times since then and either I can not get ahold of the escrow department or don't get a return correspondence.
Company Response: Closed with explanation

Timely Response

2019-07-02

Canton, MI

Trouble during payment process

Mortgage: FHA mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2019-06-23

MI

Applying for a mortgage or refinancing an existing mortgage

Mortgage: VA mortgage

Complaint: Please find this Complaint against Village Capital & Investment ( " VCI '' ) scam with XXXX XXXX XXXX ; identity theft and other deceptive practices. On XX/XX/XXXX I signed a VA loan with XXXX XXXX , XXXX claimed to be a " Lender '' and who was also an original Servicer. This loan was a deception from the beginning since XXXX failed to follow applicable laws and disclose me mandatory information about their Affiliated Businesses, as required by TILA, RESPA and SEC ; as well as the full compensation received for this loan. According to XXXX, the total amount of payments to the lender from my $ XXXX loan would be nearly $ XXXX after 30 years of payments, including principal and interest. In fact, the REAL amount received by the REAL party who was hiding behind this loan, likely XXXX XXXX investment bank, was about 20 times more, likely XXXX XXXX, which was coming from unauthorized and undisclosed trades on my name, signature and reputation on the open market, without my consent plus sales of my identity to predatory lenders like VCI who are also a part of this scam. VCI duty is to lure borrowers into predatory loans ; push them in default and fraudulently foreclose for the sole benefit of the Investment Bank ( XXXX XXXX, for example ), though a chain of sham conduits like XXXX ; XXXX XXXX XXXX ; VCI ; XXXX XXXX XXXX and many other corporations whose sole responsibility is to put borrowers under hardships to steal their properties - while investment bank makes millions from trades plus profits from stolen borrowers ' identities. On XX/XX/XXXX XXXX transferred my loan to a new " Servicer '' - XXXX XXXX XXXX, a part of XXXX XXXX who now operate at least three known to me enterprises - XXXX, XXXX and XXXX. As soon as XXXX became the Servicer my mailbox was full of junk unsolicited offers from various predatory lenders who offered me a refinancing without income verification and with substantial cashouts. The most annoying were VCI and XXXX XXXX. During XXXX XXXX I received solicitations for refinancing of my property located in the State of Michigan from Village Capital & Investment ( " VCI '' ), a Nevada Corporation whose place of business is XXXX , NV XXXX. VCI sent me unsolicited offers to refinance my VA loan with your Company, under predatory terms, without minimum credit score ; without Appraisals, re-qualifications, no income verification, no costs, plus a substantial ( up to {$19000.00} ) cash out. A copy of the Offer is enclosed. These offers came from Mr. XXXX XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX XXXX, NJ XXXX, who failed to disclose that 5 years fixed loan with the attractive 3.25 % rate ( or 4.39APR ) will increase after loan consummation ; without disclosing that is included in the payment ; and without disclosing the name of the source where VCI got my information. Moreover, it appears that VCI used a fake business license under which they operated in Michigan when Mr. XXXX solicited me to refinance with his Company. According to the Offer, VCI was licensed in the State of Michigan under 1st Mortgagee Broker/Lender License # XXXX. According to MI DIFS, your Company 's license is XXXX and it was registered in Michigan on XX/XX/XXXX, or shortly after I filed my Complaint with CA Attorney General on XX/XX/XXXX against another predatory lender, XXXX XXXX XXXX, who sent me identical offers to refinance my loan. Worth to mention, XXXX XXXX was sued by the State of Washington on XX/XX/XXXX for defrauding customers, see the link to this case where XXXX XXXX was fined for distributing false, misleading and deceptive information, similar to yours. I have a reason to believe that I am a victim of massive fraud ; identity theft ; theft of the loan and other crimes conducted by certain corporations, like XXXX XXXX who now operates under names of XXXX XXXX XXXX ( owned by predatory forecloser XXXX XXXX XXXX ) ; XXXX ( owned by predatory forecloser XXXX XXXX ) and XXXX XXXX, their data management and supporting Company. I believe that my identity and my loan were stolen ; and VCI, along with XXXX XXXX are the part of a sophisticated scheme intended to lure borrowers into predatory loans ; without disclosures ; fraudulently push borrowers in defaults and steal their properties. I further believe that XXXX XXXX XXXX XXXX manipulated with XXXX XXXX ; defrauded XXXX to purchase performing loans as " defaulted '' for pennies for a dollar, and defraud XXXX about the real status of these loans. My loan is current and was never late, yet both XXXX and now XXXX intent that they are " owners '' - which can only happen if my loan was stolen from XXXX XXXX under false pretenses. Worth to mention, neither XXXX of XXXX can not provide me a validation of this debt or verification of my loan 's valid standing with XXXX XXXX. I respectfully request VCI to provide me proof of its registration with the State of Michigan between XXXX when VCI solicited from me refinancing of my loan ; as well as full disclosures, addresses, names and contract information for sources where you obtained my personal data and information about my loan. According to the law, VCI must keep all books, records, dates, methods and all other materials related to distributions of the advertisement related to my loan and my personal information, as well as the amount you paid to the source to obtain my data. Please provide it to me as well, in writing ; and include Michigan DIFS in your communication. Moreover, as you know, after origination in XXXX my loan was purportedly placed into a certain MBS /REMIC/REIT or similar Trust. Please provide me information about this Trust, the name of Trustee, Custodian, and all other Trust officials which you must know since you planned to refinance my loan under VA Guarantee. In the case against XXXX XXXX this information was specifically demanded by WA Department of Consumer Services. Please contact me as soon as possible with the information requested above, no later than 15 calendar days. Sincerely XXXX XXXX, property address is XXXX XXXX XXXX, XXXX, MI XXXX. XXXX XXXX XXXXXXXX
Company Response: Company disputes the facts presented in the complaint Closed with explanation

Timely Response

2019-03-19

Spg Valley Lk, CA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

Complaint: In XX/XX/2018 I signed documents to Village Capital & Investments to refinance my home loan to 4.6 %. They informed me that I could get any money because I had not been in my property long enough but they could reduce my interest rate and I would have a 2 month break because my payment would be due in XX/XX/XXXX. Which I agreed t but it ended up them not following through and I had to file lost litigation and is still trying to catch up with my payment. Now I also have this on my credit, and they still have not tried to correct what has happened to me. I tried my times to call them but they have not responded also my lender called them and asked to speak with the owner of the business and no response.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Untimely Response

2018-08-27

Fenton, MO

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

Company Response: Company believes the complaint is the result of a misunderstanding Closed with explanation

Timely Response

2018-08-24

Chicago, IL

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

Complaint: On XX/XX/XXXX I spoke to XXXX XXXX XXXX at XXXX XXXX XXXX about refinancing my property. He told me that he would assist me and asked that I send him over information that he needed to process my application. I sent the information to XXXX via email on XX/XX/XXXX. XXXX called me back and stated that my file has me listed as white, but I don't sound white. I told him that I have been listed as white since XXXX and I mentioned it, but it was never changed. On XX/XX/XXXX I contacted XXXX via work phone, cell phone and email, but he did not answer, or respond. I wanted to find out the status of my application. I also called the main number several times, but no one answered the phone. I finally spoke to XXXX on XX/XX/XXXX. He requested additional information and some information that I had already sent to him in XXXX. I expressed this to him in the email. During the next 4 conversations that I had with XXXX, I asked him why was the process taking so long. He stated that it was underwriting fault and he had been on them to get my application processed. XXXX also stated that underwriting was not able to get my account number from XXXX XXXX. He stated they called XXXX and was told they could not provide them with it. I asked XXXX why didn't he just ask me for the number, I could have provided that weeks ago. He stated that he didn't know why underwriting didn't think to do that. I contacted XXXX XXXX and asked about the process for the request from Village Capital. The representative that I spoke to stated that they would not have told Village Capital that they could not supply the information. At that moment I put XXXX and XXXX on a 3 way call and expressed this to XXXX. He stated that underwriting must have lied and never called. Around XX/XX/XXXX I contacted XXXX again to get an update. He stated that he would contact underwriting and call me back. XXXX called me back and stated that my application was not approved because of my income. I had XXXX go over my income and noticed that he had not included all of my income and that I sent the documentation to him back in XXXX. He went through his email and said that he saw it and would call me back. XXXX called me back and stated that underwriting still didn't approve it and that he was sorry.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-06-11

Magnolia, TX

Closing on a mortgage

Mortgage: VA mortgage

Complaint: I refinance my home XX/XX/2017 with village capital investment loan office at closing he had to sing closing to sign several times. I did but I had to call cause I told him my taxes was incorrect he said no they are right I told that is not what XXXX XXXX appraisal letter I fax over to you. After my house close I contract mortgage company to let them know about my taxes information. My house note went up due to a shortage of escrow put in at closing. I contact village capital spoke with XXXX she tired to work on the case she also so the taxes was wrong. A big difference from $ XXXX month til {$190.00}. XXXX XXXX enter the wrong amount. XXXX XXXX was my loan who falsify my taxes.
Company Response: Closed with monetary relief

Timely Response

2018-05-28

Northside, NC

Applying for a mortgage or refinancing an existing mortgage

Mortgage: FHA mortgage

Complaint: I was contacted by XXXX XXXX XXXX Village Capital & Investment LOAN Originator on XX/XX/XXXX about refinancing my mortgage stating we can setup the loan you will not have payment for 2 months. Then on XX/XX/XXXXanother email stating that I could lower my interest rate to 4 % and payment could be lower as much as XXXX per month.You do not need to re-qualify with income, credit, or an appraisal. You are not obligated to do a mortgage just because you start an application. We can set up the loan so you will not have a payment due for 2 months. On XX/XX/XXXX after I ask him could my interest rate be lower to 3,75 % and he replied that it could be reduced as much as XXXX. Then on XX/XX/XXXX he stated the need for documents and 2 separate utility bills and declarations page for your home owners insurance.The refinance document was attached to the email which I completed and email back to XXXX XXXX onXX/XX/XXXX. I receive a letter from Village Capital Investment LLC out line your mortgage loan application if you have question please contact your Loan Officer XXXX XXXX XXXX by calling XXXX. This letter showing a project payment amount of XXXX for 1-11 years and XXXX 12-30 year. I then tried to contact XXXX XXXX from the date XX/XX/XXXX to XX/XX/XXXX but by then I receive late payment that damaged my credit. Then they submitted the report to the credit bureau as I have refinance my home that isn't true
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-04-12

Cypress, TX

Improper use of your report

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Credit inquiries on your report that you don't recognize
Complaint: " CREDIT INFO '' INQUIRE INFORMATION DATED XX/XX/2016 DOES NOT BELONG TO ME AT ALL
Company Response: Company can't verify or dispute the facts in the complaint Closed with explanation

Timely Response

2018-04-04

SC

Applying for a mortgage or refinancing an existing mortgage

Mortgage: VA mortgage

Complaint: On XX/XX/2018 My VA guaranteed loan with a monthly payment of {$1600.00} was refinanced to {$1400.00} supposedly by interest rate reduction The field on the XXXX XXXX application that is listed in the Lender case number box with ( XXXX XXXX XXXX ) VA XXXX XXXX XXXX Loan number XXXX listed XXXX as the refinance amount in the " Amount of existing liens box '' thus lowering payments by applying a lower interest rate from 4.375 to 3.2. I did not realize it would cost me {$10000.00} more undefined dollars when ( XXXX XXXX loan number XXXX listed by LIC # XXXX, NMLS # XXXX ORIGINATOR XXXX XXXX XXXX, NMLS # XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, OH XXXX Tel. XXXX FAX XXXX ) assumed the loan and issued undefined charges and then handed off to XXXX XXXX XXXX XXXX XXXX XXXX PA XXXX acct number XXXX When I asked, I was told nothing. The amount added to my balance when all was said and done within a practice called " CHURNING ''. I had a loan of {$280000.00} dollars and after it was refinanced it turned into {$290000.00} This loan was churned with intent to take advantage of a XXXX Veterans status with a defunct VA mortgage department that did not do its job when approving this loan.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-03-28

Tallahassee, FL

Trouble during payment process

Mortgage: FHA mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2018-02-23

Spartanburg, SC

Trouble during payment process

Mortgage: Other type of mortgage

Company Response: Closed with explanation

Timely Response

2017-12-05

MS

Trouble during payment process

Mortgage: VA mortgage

Complaint: XXXX XXXX and XXXX XXXX has contracted with XXXX XXXX XXXX XXXX XXXX Service my VA home loan. The problem has I contacted XXXX XXXX XXXXXXXX and requested to have my mortgage escrow removed since this is a new loan I have neither been late on his mortgage and the annual taxes and homeowners insurance are current. As a VA borrower, I have the right in the state of XXXX to have my mortgage escrow removed and it should be honored. This company has also not refunded my escrow funds that were collected from my previous mortgage company XXXX Mortgage which violates the Mortgage Servicing Clause in Release tractions amendments of the state of XXXX
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-10-03

Discovery Bay, CA

Applying for a mortgage or refinancing an existing mortgage

Mortgage: VA mortgage

Complaint: Around XX/XX/XXXX I contacted village capital current lender who I have a loan with now try to do a VA loan cashout.I have my VA appraisal and termite completed by another mortgage company they told me that everything was going to be completed and closing within 3 weeks.I have corresponded through hundreds of emails also to XXXX XXXX everytime he stated that I was approved on XX/XX/XXXX I was told that that the VA appraisal had got transferred and approved so that I would lose in 3 days.I let them know that my wife father XXXX XXXX in XXXX and needed to go to father XXXX.My wife did not make XXXX because they said she needed to be here to sign documents but nothing was completed. It was discovered after I spoke with loan proccessor XXXX that all the things the loan officer was telling me were all lies.XXXX stated that she did not have my XXXX, paystubs, VA pension paperwork, and wife information.I like that me and my wife were being lead just the loan officer can get commisson. I am a XXXX XXXX veteran and it is not right how these people can lie to people so bad.If they told me the truth I would not be so frustrated.I can forward copies of all emails.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-09-16

Quartzsite, AZ

Incorrect information on your report

Mortgage: VA mortgage

Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-08-27

Snellville, GA

Problem with a credit reporting company's investigation into an existing problem

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Their investigation did not fix an error on your report
Complaint: I have tried to resolve this issue through cfpb on XXXX previous occasions and it has not been resolved yet. Complaint Numbers. XXXX XXXX XXXX XXXX XXXX XXXX XXXX with XXXX XXXX XXXX XXXX requested a letter from me authorizing the Credit Bureaus to remove the Hard Inquiries and she sent XXXX XXXX XXXX XXXX authorization for release to the credit bureaus. but XXXX XXXX XXXX has yet to remove them.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with explanation

Timely Response

2017-08-12

Snellville, GA

Problem with a credit reporting company's investigation into an existing problem

Credit reporting, credit repair services, or other personal consumer reports: Credit reporting

Their investigation did not fix an error on your report
Complaint: My original complaint has not been corrected and you ( cfpb ) have closed the complaint Village Capital & Investment LLC ran a credit inquire on me and my wife without us applying for credit, actually we cancelled the contract once we realized who was involved and we refused to deal with Village Capital & Investment LLC. I received a letter from XXXX XXXX XXXX - Compliance Representative for Village Capital & Investment LLC, on XXXX XXXX, 2017 claiming that all inquiries would be removed. Today I received a letter from XXXX XXXX that Village Capital did not run the report themselves but had " XXXX XXXX XXXX '' run the report for Village Capital & Investment LLC on XXXX XXXX, 2017, with all three credit reporting agencies for them and those hard inquires have not been removed.
Company Response: Closed with explanation

Timely Response