This company serviced my home loan for the past three years. They gave me the worst customer service I have ever experienced. Their mishandling of my payments went beyond sloppy to what I consider to be criminal misappropriation of my funds. They channeled my payments in ways that benefited them and not me, and they deliberately did not follow clear instructions from me. This company should be investigated for fraud and shut down. I had to be watching them like a hawk every month to make sure they did things correctly. Thankfully I paid off my loan in full and I don't have to deal with them anymore. Here are some examples of what I experienced.
—When I sent in $9000 towards paying down my loan (with a separate check, marked clearly as such) they instead put half the amount in a miscellaneous category, and paid two upcoming month's payments (giving themselves interest payments). When I called to complain, they then placed the ENTIRE 9000 in a miscellaneous catagory. They had my 9000 for almost a month without reducing my principle.
—Extra money I sent in to go towards principle was placed in an escrow account, even though they don't escrow taxes for me. It took three months to straighten this out, they finally cut me a check and gave me a refund, they said they couldn't move it to principle. It was only about $40.
—The last monthly payment I sent them was not correctly posted and was sitting in a miscellaneous account. My account was listed as past due, and when I got a payoff statement, there was a late fee added.
—I requested a payoff statement, and wound up receiving FOUR of them in the mail, in separate envelopes. Three of them came on one day, the other several days later. Each of them had a different amount listed. At this point I was so distrustful that I paid the highest amount, figuring that if I didn't, somehow my loan payoff would never happen.
I was so glad to get a letter from them telling me that my loan has been satisfied. Dealing with them is a consumers worst nightmare—not knowing if your credit or home may be in jeopardy due to their terrible incompetence. You can do everything right but it doesn't matter—they'll find a way to trip you up. And their customer service people in India are not trained and have absolutely no authority to do anything on your behalf. I feel sorry for people trapped in this third world nightmare.
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