Date Received: 2023-02-21
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We have asked Mr Cooper since XXXX of last year to provide information to sell ( property has insufficient collateral for the amount asked prior ) and to refinance my house, mr cooper has declined to collaborate with the courts and with the title companies and with the contracts pending. We are asking for verbatim from underwriting " Good afternoon, XXXX, Just wanted to provide a quick update - Underwriter has reviewed your file and is requiring the following additional items : XXXX ) Title shows a current XXXX on the property with Nationstar Mortgage. We need a copy of the most recent, full, mortgage statement in order to obtain a mortgage payoff demanD statement and a XXXX of Mortgage request - or - have Nationstar mortgage send to us directly ''. Please provide that documentation to the mortgage company and us asap. It seems that the attorney that speaks for Nationstar is conveniently delaying the process so that he can cash the equity of the senior and all her livelihood in social security exempt funds that the bank already got. We need to settle this once and for all because it is causing emotional econmical and other harm to an innocent purchaser of value. Here is the address of the " department '' we spoke for misapplication of the payments that XXXX XXXX sent and got cashed by Mr Cooper and they hold the cash but not applied to the XXXX debt of XXXX. Apparently there is another second loan statrted in XXXX with non owners and people who are not in equity in this property that gave rise to a wrongful foreclosure. We need to settle and move on. Here is the department we spoke with Nationstar Mortgage LLC Its Successors and/or Assigns ( XXXX ) XXXX XXXX XXXX XXXX, OH XXXX We have been on equity title since XXXX. Over 14 years and the debt was not paid since XXXX. Teh debt was created without our knowledge and consent on the peroperty but we want to settle and move on. Your attorney pursuit the wrong person for this debt
Company Response:
State: NM
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-02-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-21
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Charging late or default-related fees in CARES Act forbearance programs.The CARES Act generally prohibits a servicer of federally-backed mortgage loans from imposing these fees while a borrowers mortgage payments are being deferred due to financial hardship caused by the COVID-19 emergency. Refuses to give terms and conditions, pushing toward refinancing when rates have increased exponentially. Owned by XXXX XXXX, the did not offer the options for deferral, they wouldnt explain the process until I called them out. It is a fema rule to allow payments to be added to the end of the loan.. Failing to end preauthorized electronic fund transfers. Otherwise known as EFTs, some servicers failed to end automatic electronic payments when an account had been closed, often resulting in additional and repeated fees when borrowers had insufficient funds in their banking account. I paid my mortgage payment XX/XX/XXXXXXXX they auto drafted it from an account that was closed XXXX, I made the payment from my XXXX XXXX app directly to the lender, nationstar/r/Mr. Cooper,,, Mr. Cooper overcharged for services and added fees outside of their loan terms, ,for example late fees when payments werent late, in fact payments were made for XXXX months in advance. Misrepresenting mortgage loan transactions and payment history in online accounts. Examiners found that servicers provided inaccurate descriptions of payments and transaction information, which may have misled borrowers. Ive been working on and analysis all evening it is one hot mess! Incorrect handling of partial payments. Servicers are required to take one of the following specific actions when they receive a partial payment from a borrower : crediting the payment, returning it to the consumer, or holding it in an unapplied funds account. Mr. Cooper put these funds in the escrow account, this was for flood insurance I have with my HOA, I send them proof at least 3 times a year as they continued to charge for flood insurance, Im on calls once a week for 2-3 hours, no one keeps records of previous calls and Im required to explain the situation, then Im passed around to 3 or 4 reps. They have been holding funds since XXXX! it since., according to your website, they are not supposed to put these payments in borrowers escrow accounts rather they should be returning the amount or crediting it to borrowers next monthly payment. I was told they couldnt do it, they had to mail a check, then Id have to call and void it, this is archaic and meant to harm the borrower. Im so stressed out over this, hence the XXXX XXXX complaint Im sending right now. Failing to automatically terminate XXXX Mortgage XXXX ( PMI ) on time. For borrowers with PMI, servicers are generally required to automatically terminate those additional PMI payments once the mortgage loans principal balance is first scheduled to reach XXXX percent of the original value of the property. Examiners found that in many cases the servicers data was inaccurate, and the PMI wasnt terminated in a timely manner.I have been trying to XXXX t them to cancel the flood insurance since XXXX! Not happening, each rep gives me different stories Predatory lending!
Company Response:
State: FL
Zip: 336XX
Submitted Via: Web
Date Sent: 2023-02-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-21
Issue: Trouble during payment process
Subissue:
Consumer Complaint: In the XXXX of 2022, I signed up for biweekly payments on my home mortgage with Mr. Cooper. The new payment would resemble 1/2 of the monthly principal, interest, and escrow due every two weeks instead of the previous monthly payment. A reasonable person would have assumed that biweekly payments would help them reduce their interest expense in two ways. First, payments made biweekly would reduce the balance of the mortgage earlier than a traditional monthly payment and thus, save the consumer substantial interest expense over the life of the loan. I believe this to be the most important benefit of biweekly payments, and would be the main reason anyone would sign up for this type of payment structure. The secondary benefit would be that there would be 26 biweekly payments made in a year vs. 12 monthly payments on a traditional monthly pay structure. This essentially equates to Mr. Cooper facilitating an extra month of principal payment by the consumer per year. Mr. Cooper constructed their biweekly payment program to completely eliminate the reasonably expected benefit of the first pro of biweekly payments I mentioned above. Mr. Cooper is holding the consumers first biweekly payment made in a month in limbo until the second biweekly payment for the month is made 14 days later. Mr. Cooper then finally applies the combination of the two payments to the loan, entirely negating the benefit of making the first biweekly payment early. For example, on XX/XX/2022 I paid {$900.00} to Mr. Cooper for my first of XXXX 's biweekly payments. This transaction was listed as " unapplied funds '' in my account history on Mr. Coopers website with no reduction in principal balance, application of interest, or deposit into escrow on that date. It isn't until my second biweekly payment in XXXX is made on XX/XX/2022 that Mr. Cooper applies any of my payments to either principal, interest, or escrow on my loan. I believe materially diminishes benefits of biweekly payments and it is reasonable for a consumer to presume that Mr. Cooper would apply payments as they are received instead of holding the funds until the second payment is made 14 days later. Mr. Coopers advertisement and application of this feature is misleading and unfair to a rational consumer.
Company Response:
State: CO
Zip: 80918
Submitted Via: Web
Date Sent: 2023-02-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-21
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: Mr Cooper has requested insurance coverage proof several times and each time I send them proof. This was done in XXXX of 2022 and again in XXXX of 2022. This time they purchased a policy without my approval, even though I already have one and they are paying for it out of my escrow. This type of forced insurance is illegal.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92253
Submitted Via: Web
Date Sent: 2023-02-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-20
Issue: Took or threatened to take negative or legal action
Subissue: Seized or attempted to seize your property
Consumer Complaint: This attorney XXXX XXXX has bullied us that if we do not enter into an agreement with him for three times what the bank wanted in XXXX, so XXXX, for a debt of a third party, that he is going to sell my mother 's primary residence to investors for XXXX. Her property is worth XXXX and your loan was XXXX. so is the XXXX tip for Mr cooper or who, Besides this attorney sent us a letter and came face to face to us without disclosing that he is a debt collector and any information will be used to collect The issue is the debt is of a third person and his judgment is over 4 years old and for another person not in the title of my mom 's home. Is uncolllectable and the tactics to recover form ore that the face value of the initial debt in XXXX is against fDCPA as abuse and more abusinve to charge her for the debt of another apparently Mr Cooper already made a " deal " with the revoked trust account by the state of Nm for not making annual reports, and saids has crafted a title but we did not get to see Because you hired him and he speaks for you mr cooper si responsible of the FDCPA tactics this person used.
Company Response:
State: NM
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-03-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-20
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My house caught fire and burned down on XX/XX/2021. My insurance company XXXX paid for the damage to my home and it was placed into an escrow account monitored by Mr. Cooper. I unfortunately was paid an initial amount out of the insurance funds which was stolen by the contractor. I have since accumulated the funds to get the house underway and have attempted to get additional insurance funds being held in the escrow account to continue with rebuilding my home. Mr. Cooper has repeatedly made false statements, inconsistent statement and blatantly stalled providing any further funds to me for my home. They reported one inspection of the home was at 10 % completion and needed to be at 25 %. On the second inspection they said my home was at 1 % completed. How can you unbuild a home? It has 4 outside walls, a roof, floors, interior walls, windows, doors and a full basement with poured concrete. Countless hours have been spent on the phone getting understand what they are doing and why no monies can be released which is hoping up the progress on my home be finished.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: IL
Zip: 604XX
Submitted Via: Web
Date Sent: 2023-03-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-21
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have been in an ongoing battle to get the PMI removed from my mortgage for several months. I finally was able to get the company to contact an appraiser to begin the process to see if the property was eligible for PMI removal based on current balance and newly appraised value. After receiving notification that the appraisal was completed, I was provided insufficient details on the results beyond " did not qualify for PMI removal ''. When first requesting detailed support from the appraisal, I was told that the house appraised at a value equal to the exact low end of the appraisal ( not having access to the detailed appraisal yet, my disagreement at the time was voice and I was told to simply file a disagreement. Once being told that, I stated that I would need a copy of the detailed version in order to make a more specific case for my dispute. The representative said she would send the appraisal to my email on file which I had her confirm ( XXXX ). After receiving nothing for a week, I followed up to once again request the detailed appraisal. Finally after requesting detailed documentation for a third time, I finally was providing the detailed appraisal ( as opposed to the summary one page document with no detail ). I find out that the appraisal actually came in ~ {$35000.00} higher than I was originally told the first time. Realizing this may have been an error in initially rejecting my request, I called back today and was put on hold for awhile while another representative looked into why it was denied. Prior to this, I was told that the appraisal needs to be below 80 % XXXX to remove PMI. Similarly, the Mr Cooper website says in plain English that you can request to cancel PMI at a level below 80 % XXXX. Yet, the representative today told me that the current XXXX of 77 % doesn't meet their requirement of 75 % XXXX which is a special requirement since the new value was from an appraisal. He also let me know that there is nothing he can do and nothing I can do except file a detailed dispute. I am in the process of filing the dispute as the initial appraisal ignored an identical comparable that is next door that indicates a value closer to XXXX % XXXX and contained inaccuracies. At that point, I decided to file a complaint with the CFPB as the story seems to be changing and inconsistent with the terms clearly stated on the website.
Company Response:
State: MN
Zip: 55113
Submitted Via: Web
Date Sent: 2023-02-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-21
Issue: Attempts to collect debt not owed
Subissue: Debt was paid
Consumer Complaint: Mr cooper is collecting a debt not owed by XXXX XXXX by attempting to seize her property and mine that we hhave owned for over 15 years. They have provided NO VALIDATION NO VERIFICATION of DEBT, it is not owed by us the bank needs to collect from the debtors XXXX and XXXX XXXX XXXX for that debt that is not ours. Cease collection activities form an innocent senior just because you can play a tactical legal trick on a defenseless womna does not mean you have to abuse her It is the law not to do that. it is protected under usury law and under FDCPA We tried to work with you in good faith and all we got is deceit
Company Response:
State: NM
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-03-16
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-21
Issue: Attempts to collect debt not owed
Subissue: Debt was paid
Consumer Complaint: Mr cooper is collecting a debt not owed by XXXX XXXX by attempting to seize her property and mine that we hhave owned for over 15 years. They have provided NO VALIDATION NO VERIFICATION of DEBT, it is not owed by us the bank needs to collect from the debtors XXXX and XXXX XXXX XXXX for that debt that is not ours. Cease collection activities form an innocent senior just because you can play a tactical legal trick on a defenseless womna does not mean you have to abuse her It is the law not to do that. it is protected under usury law and under FDCPA We tried to work with you in good faith and all we got is deceit
Company Response:
State: NM
Zip: XXXXX
Submitted Via: Web
Date Sent: 2023-02-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2023-02-20
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: I have disputed the erroneous late payments that were reported by Nationstar/Mr. Cooper via the credit bureaus but they responded promptly stating the late payments were accurate. I have documents from my banks indicating payments were indeed drafted and within the 30-day period each month. I have forwarded documentation to the credit bureaus to verify the reporting is inaccurate but Nationstar/Mr. Cooper has not even attempted to review the data or consider the possibility they may have made errors. In fact all they did was change the month the late payment was posted in. Another concern I have is I was charged late fees almost every month of 2019 even though my payments were all posted within the 15-day grace allowed by XXXXationstar/Mr. Cooper. Three times in 2019 Nationstar/Mr. Cooper completely reversed payments on their system and removed the funds from my payment balance when in fact my bank has validated the payments were drafted successfully. If this matter is not resolved after this filing with CFPB I will proceed with filing with XXXX for possible transaction fraud.
Company Response:
State: TX
Zip: 750XX
Submitted Via: Web
Date Sent: 2023-02-20
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A