Freedom Mortgage Corporation

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.
I appreciate you taking the time to answer my concerns, and I hope other customers do not experience what my family did.
Regards,
[redacted]

Mr. [redacted], my understanding, based on a conversation we had, is that Joe M was able to assist you and address your concerns. Please let me know if that is not the case.
Sincerely,
Roseanne G
Vice President Customer Service
Freedom Mortgage corporation

I have been paying on time for some time now and then trying to refi with them I was told my closing date was going to be on the 22nd of September. After a bunch of back and forth them saying I didn't send them something and me saying yes I did and sending it to them again with the original dates it was sent my closing date passes. Now we went into October and still things are coming up and this and that. I told them I would have never started this process if I knew it would go passed the closing date because I had to use mortgage and bill money from October to pay for all the fees and appraisals of refinancing. Well, now we are in November. I was a month behind on payments now but was able to pay for both months and just have no money for the rest of the month. Then I start getting calls and letters saying that the payments I made for July, August, and September were reversed and I owed them that money. I sent in my bank statements showing they were wrong. Today I get a letter in the mail saying my house is going to go into foreclosure next month if I don't pay for those months right away. This is beyond ignorance. What kind of people are allowed to make mistakes like this and still be employed. Maybe I should apply there and never show up. They will probably still pay me.

Complaint: [redacted]
I am rejecting this response because:
Thank You for responding, but this is the same story I have heard. When I got a email from the credit reporting agency, that keeps a eye on my credit and was informed about the lowering of my credit score, due to sold/transfer of account. No other reason, I have no other credit. I do not appreciate being told that it could be another reason. You should have had all your duck in a row before transferring accounts.
Regards,
[redacted]

Mr. [redacted], the loan you applied for your were not eligible for and it should not have been offered to you. This is a training issue and will be addressed with the loan officer. We will remove the credit inquiry from your record and we will send you copies of the letters to the credit bureaus for your records. SincerelyRoseanne GSr. Vice President Customer ServiceFreedom Mortgage Corporation.

Complaint: [redacted]
I am rejecting this response because:
it only covers a portion of the issues raised.  I'm satisfied with this portion, but the issue is not closed so I've responded with a "rejection" so there's no confusion.  Thank you for removing the late fee as agreed to.  Thank you for adjusting escrow for the utility bill/[redacted] assessment.  The issues that are still open are:  adjusting escrow to reflect the tax amount (we got a one time grant last year).  the amount held for escrow this year will be short due to this incorrect adjustment.  made worse by the [redacted] amount just paid out to me, the escrow will be even shorter.  Also, I had requested to be communicated with so we could develop the best way forward on the escrow amount.  I've received no messages, call backs, or emails.  The company has responded to Revdex.com by taking action - albeit the wrong action - but still appears unable to communicate with me.  I appreciate the movement made and thank the Revdex.com for making contact.I'm standing by to communicate with my mortgage company directly, but I'm done wasting time on hold to deal with someone that won't follow through.  Thanks
Regards,
[redacted]

Mr. [redacted],
 
Mortgage escrow accounts are analyzed once per year, Texas accounts are analyzed in February. Your insurance premium is payable in April. We analyze your loan based on the projected disbursements. It is not possible to know in February what the April bill will be and we can not reanalyze just because a disbursement exceeds the anticipated amount.
 
The state of TX requires the analysis to be completed each year in February with a new payment effective date for April of current year; unfortunately your insurance disbursements are disbursed within the same month or the following. Escrow analyses are done annually according to the state in which you reside and when we analyze your account, we have only the figures from the prior year disbursements for the analysis, unless the premium payments are disbursed prior to the loan being analyzed.
 
On July 18th a representative from the escrow department contacted you and went over the escrow account, the schedule of the analysis how the shortage was based off of the increase from the 2013-2014 policy and how the new shortage is from an increase in his 2014-2015 policy. You agreed to have your account re-analyzed out of term which will allow for the collection of funds for the new higher insurance premium. The new payment is 913.30 effective with the 9/1/14 payment.
 
There is nothing to be refunded as the increases in the payment and the shortage in the escrow account were a result of increases in your insurance premiums. We can not watch your account as you ask in your letter, it would be nice it we could but that is simply not possible. I would suggest that when it comes time next year to pay the insurance premium and if the premium once again increases, that you contact the servicing center and request that the account be reanalyzed at that time.
 
 
[redacted]
Vice President Customer Service
Freedom Mortgage Corporation

Mr. [redacted], Arthur V spoke with you on 12/14 and went over the escrow shortage issue. You and I spoke shortly after that I believe and you advised that the issue with the escrow account was resolved. I do not have any messages from you since then. I do see that your called in to the servicing center on 1/4 with some new concerns and I have asked that they be escalated. Can you please advise what was not addressed, specifically related to this complaint ? Roseanne G

Mr. [redacted] upon receipt of your complaint I asked our sub-servicer [redacted] Servicing to look at your account. They advised that a block on your account, which is placed there when the loan first boards their system was never removed in error. They have contacted all three credit bureaus and...

provided them updates. [redacted] and [redacted] are now reporting your history and [redacted] will be doing so effect after their August cycle. Thank you for bringing this to our attention and we apologize for the trouble this may have caused you.
[redacted]    
[redacted]

Complaint: [redacted]
I am rejecting this response because:Shouldn't my payment be re-adjusted or shouldn't there be an escrow analysis since there is now an excess in my escrow account? My payment was initially raised to cover the shortage in escrow, therefor there should be a payment adjustment as I shouldn't be paying as much into my escrow. 
Regards,
[redacted]

[redacted] upon receipt of your complaint I asked our cash department to review their records. They show the following:
[redacted]...

[redacted])The payments on 9/10 was made with a representative and I believe it was to replace the one that had been returned due to the error in the account number. Do you show more payments than the above having been taken from your account ? If so can you email documentation to my email address [redacted] and I will have the cash department review. Currently there is 781.55 in suspense and the loan is due for the 10/1 payment. The next draft is scheduled for 10/9 and would complete the 10/1/15 payment.If we are missing payments here please let me know and I will be happy to assist[redacted]Vice President Customer ServiceFreedom Mortgage Corporation

Complaint: [redacted]
I am rejecting this response because: The response does not address the unwillingness of supervisors to give service agents authority to take action on simple questions.  And there are several errors in the response.  The document attachments (2) are labelled 1098--but in fact they are not the form sent to IRS. They are copies of statements by two parts of Freedom for November and January (which I already had in my files).  The response says that the late fee ($138.43) and interest were added to the escrow account and paid on Jan. 29 = $2011.11.  Yes, the check was for that amount, and it comprised $1,703.57 escrow balance stated on payoff fax from Freedom as of Jan 07, 2016 plus $307.54 escrow sent by wire in the payoff on Jan 15.  Fact: there were no other funds included in the $2011.11 refund of escrow.  I don't know about the interest paid in January, but the late fee of $138.43 was NOT part of the escrow payoff. That was noted by at least one service agent on Feb. 26.  As I think I implied in my complaint, the Freedom data system (accounting plus service annotations) is pretty vague.
As an example of vague and sloppy processing:  I was told by a Freedom Mortgage service agent in [redacted]) that my 1098 form had been sent prior to Feb. 10.  Well. that 1098 (the real thing) came in the mail today (3/14/16)--does it take 5 weeks in the mail, or more likely the Freedom system doesn't process documents when they say they do.  Of course, it doesn't help the service agents that Freedom created two account numbers for this loan, and specific agents ([redacted] and [redacted]) were able to see only part of the records for 2015.
These were quite simple questions and small dollar amounts.  Faster and reliable responses should be the norm.
Regards, [redacted]

Complaint: [redacted]
I am rejecting this response because:I disagree with this response whole heartily. The attached FCAR, page 81 details what Freedom Mortgage (Lender) is required to do when reporting "Negative" information to a "Credit Agency" regarding one of its "Customers"(7) Negative Information
(A) Notice to Consumer Required
 (i) In general. If any financial institution that extends credit  
and regularly and in the ordinary course of business
furnishes information to a consumer reporting agency
described in section 603(p) furnishes negative information
to such an agency regarding credit extended to a
customer, the financial institution shall provide a notice of
such furnishing of negative information, in writing, to the
customer.
 (ii) Notice effective for subsequent submissions. After providing  
such notice, the financial institution may submit
additional negative information to a consumer reporting
agency described in section 603(p) with respect to the
same transaction, extension of credit, account, or customer
without providing additional notice to the customer.
(B) Time of Notice
 (i) In general. The notice required under subparagraph (A)  
shall be provided to the customer prior to, or no later than
30 days after, furnishing the negative information to a
consumer reporting agency described in section 603(p). The actions of both [redacted] and Freedom Mortgage have caused a ripple effect in personal and professional lives. The mess that has been caused must be fixed. Please not the Department of Justice has been notified about these actions.
Regards,
[redacted]

[redacted], my understanding is that we have been in communication and that we resolved this issue to your satisfaction. Please confirm for the Revdex.com
 
Sincerely
[redacted]
Vice President Customer Service
Freedom Mortgage Corporation

Complaint: [redacted]
I am rejecting this response because:
 
Call me anytime after 3 pm [redacted] time and we can talk about the issue 
Regards,
[redacted]

Ms. [redacted], I am sorry that you are having issues with the payments posting. The PO box is checked every day, it is located at [redacted] our payment processing bank. The process the checks the day that they get them. One issue that could be delaying the posting is if your bill pay service is trying...

to send an electronic payment. At this time we can not accept electronic payments so the bill pay service has to send a paper check and this may be part of the delay. We will be able to accept electronic payment in the future, we hope to have this available by late spring or early summer. I again apologize for your frustrations and have waived the late fees on the account. Sincerely[redacted]
Vice President Customer ServiceFreedom Mortgage Corporation

[redacted], Thank you for your correspondence. Please be advised that we have been made aware by FISERV, the vendor whose servicing platform we utilize for all servicing functions, advised us yesterday that they, in error, reported a number of loans as in forbearance. we have been in...

contact with them multiple times each day since this notification. They have already sent an update to the credit bureaus and will be sending additional data until this has been corrected for all borrowers affected. The current ETA for completion is this Monday. They are very concerned and apologetic about the error on their part. If you need anything in writing please email me at [redacted]Sincerely[redacted]Vice President Customer ServiceFreedom Mortgage Corporation

Mr. [redacted], upon receipt of your complaint I reached out to the loss draft department. They advised that it is our requirement that a licensed contractor complete the work. This is a large claim and it is our responsibility to the investor that the work be completed in a professional manner. [redacted]...

[redacted] is the investor and we must do what is required to meet their expectations. Below is what the procedure is in regards to the claim and the release of the fundsUpon receipt of all required documents (signed contract, contractor’s W-9, contractor’s wavier of lien form, adjuster’s estimate, and copy of contractor’s license), a disbursement of $40,000.00 would be issued to the borrower and contractor.  Upon the repairs being verified by inspection at least at 50%, an additional disbursement of one-half of the remaining balance would be released to borrower and contractor. The final disbursement would be held until inspection verifies repairs are at least 90% complete with no structural repairs remaining to be completed, at which time the funds would be released to borrower and contractor. I am sorry but we will not be able to comply with you wish to have all the proceed sent to you and to waive the requirement for a licensed contractor.  SincerelyRoseanne GSVP Customer ServiceFreedom Mortgage Corporation

Complaint: [redacted]
I am rejecting this response because:
I still have not had anyone at Freedom Mortgage detail what went wrong in this situation or address my mortgage refinancing which now have been in process over 120 days.   Why does Freedom Mortgage continue to deflect the situation instead of providing customer service?   Please advise immediately of an action plan to address my concerns.  Thank you. 
Regards,
[redacted]

Complaint: [redacted]
I am rejecting this response because:
The complaint was never around Escrow shortfall. Freedom Mortgage did not answer my query at all. My query was "Why did Freedom Mortgage report to the Credit Bureaus that my account was delinquent when all my payments were made one week before the due dates". 
All my payments till date are paid a week in advance of the due dates every month. As soon as Freedom Mortgage sent me a mail about the Escrow shortfall, the payment of $237.27 was paid without any delay (on 07/20/2015).  The reference to the escrow shortfall in the original complaint was because it triggered all this mess. . This is clearly a major mistake by their accounting department and who ever signed and sent the notification to the Credit Bureaus is clearly answerable. They've fundamental flaws in their business processes that do not do proper checks before sending out these critical notifications impacting customers credit reporting. Freedom Mortgage is trying to cover up for their blunder. I'm truly surprised by their bold customer service statements on their web sites. Is this a good customer service?
I need an answer from Freedom Mortgage on why the notifications are sent. They MUST send a follow on notifications to all the credit bureaus they reported about their mistake and erroneous reporting and send me a confirmation mail (via certified mail) that my credit history does not have an impact because of their negligent behavior. 
FYI - Because of their irresponsible negligent behavior and Erroneous reporting to credit bureaus my FICO credit score has gone down by 100 points (Comparing Nov and Dec scores). Who from Freedom Mortgage is responsible and accountable for this irresponsible and unexpected behavior?
Regards,
[redacted]