360 Mortgage Group, LLC

[redacted],We apologize for the inconvenience this has caused you.  Attached, you will find a letter from our VP of Servicing, [redacted], concerning the matter.  In addition to this letter, [redacted] will also be sending you a personal email with this information.Please let us know if you...

have any further questions or concerns.Sincerely,[redacted]

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 concerning the tax payment in the amount $1728.28 for taxes paid by [redacted]. I also made an inquiry with [redacted] Concerning our Homeowners policy for 2nd refinance which had originally been billed in the amount of $1005.00 (Pre-paid in closing details) but finally billed in the amount of $982.00 paid again by 360 Mortgage after closing. We would greatly appreciate the advance refund by 360 Mortgage for both escrow payments as my wife and I are both disabled veterans and utilize funds from Veteran's programs critically.
Regards,
[redacted]

Complaint: [redacted]
I am rejecting this response because:360 Mortgage has done a great job of researching why I owe $3,300 and very little explaining of how or why they over looked their "none anticipation" of having to pay my December 2014 taxes. It's quite simple, as a home owner going through a refinancing process we were offered several benefits of which receiving an escrow refund was one that stood out. If 360 Mortgage chooses to take the approach that I actually received the money from my previous mortgage company that should have been allotted for my December taxes, which came in the form an escrow refund, that should have been presented to me last year during the refinance process. They also charged me and my family a nice price for this refinance and as stated by 360 verbally and in statements, "they did not anticipate having to pay the December taxes." This doesn't sound like I received the service I paid for I would think. For this company to not QA their process and be allowed to resort to "what should have happened" and not be held accountable for their lack of providing me the best paid service possible is unacceptable! Logically, there's no reason why I wouldn't have agreed to finance the Nov/Dec 2014 taxes into the total loan. This alone shows the mistake 360 Mortgage committed and now I'm being asked/forced to finance the owed amount in 36 months vice 360 months. This has been by far my worst refinancing experience and if 360 Mortgage refuses to absorb the remaining balance of taxes owed, I feel I should definitely receive a partial refund from the fees I was charged to conduct this refinance. R/SC.D. [redacted] 
Regards,
[redacted]

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.  Am still displeased with the...

service as I have come to find out that they would not have found a buyer for my loan considering the policies for lenders to give credit have changed.  Knowing I am a contract worker I would have to be employed by the same company on contract for 2 years or a permanent employee of the company for someone to buy my loan.  360 Mortgage was aware I was on contract from the first request. 
Regards,
[redacted]

03/27/2015[redacted]Dear
[redacted],We are in receipt of your
complaint filed with the Revdex.com, regarding the duplicate
drafting of your March 2015 payment.On February 19th you placed a call into our Customer Care department...

stating that you wanted to
initiate auto draft of your monthly mortgage payment to begin in March. We were
not able to setup auto draft for you to begin in March as there was not enough
time to initiate that request for you, but we advised it would begin in April
if you returned the requisite "Automatic Draft Authorization Form."
At that time you were advised by our representative to make a one-time draft to
make your March payment over the phone and you scheduled that payment for March
10th. On February 24th we received your completed
Automatic Draft Authorization Form and entered that into our system to begin
drafting your payments on April 10th. On March 9th you
placed all call to our Customer Care department again requesting us to setup
another payment for you via phone, which we did. You requested that payment be
scheduled for the same day, March 9th.On
March 12th you called regarding both payments drafting from your
bank account and were asked to provide a letter from your bank showing that
both payments were processed and would be honored and not rejected by them for
insufficient funds. We did receive a letter on March 13th; however
it did not reflect that the payment would in fact be honored. On March 16th our Customer Care representative placed a call to your bank requesting a
document that reflected that they would honor both payments but were unable to
speak with anyone at your bank. On March 17th although we did not
receive the requested information from your bank, as an accommodation to you,
we initiated a refund request via our cashiering and accounting departments
which was expedited to minimize the financial impact to you. The funds were
sent back to your bank electronically on March 18th.We hope that this letter
satisfies your concerns regarding this matter. Should you have additional
questions please contact our Customer Care department at ###-###-####.Thank you for your
business,Customer
CareAttachments:ACH Form-[redacted]Letter from Pen Air Bank-[redacted]

Complaint: [redacted]
I am rejecting this response because: The facts of this issue remain unresolved: 360Mortgage failed to take proper steps to ensure the solvency of my account through financial projections, such as review of several years’ tax history, flagging of dramatic tax changes, and a system of checks and balances that would have prevented this error in the first place. This has resulted in financially harm to the consumer as now they are having their current payment of $1428.34 rise $363.18 to $1791.52. This puts 360 Mortgage’s significant financial error as a burden on the consumer. The refunded $1,845.02 was received and spent in good faith by the consumers with the understanding the 360Mortgage had accurately conducted the escrow analysis for their customer, as they are paid to do so. I expect 360 Mortgage to take proper steps to ensure the solvency of my account through financial projections, such as review of several years’ tax history, flagging of dramatic tax changes, and a system of checks and balances that would have prevented this error in the first place.The change from spreading the escrow shortage over 12 months to 36 months was accepted by the consumer but she also advised the supervisor [redacted] that she wanted to speak with upper management as requested regarding financial restitution of this error by 360 Mortgage and was told the complaint would go no further. [redacted] did not follow through with the 36 months that was promised, as is indicated by the attached document of the October mortgage statement which reflected a payment of $1971.95. Only when the BB was contacted, was this finally changed. A clear indication that [redacted] at 360Mortgage did not follow through with her promise to spread this out and also did not have upper management contact the customer as requested numerous times. This is another example of 360Mortgage failing to provide proper customer service and follow through with their processes. I am still requesting a full credit for the deficit of $3247.96 due to 360 Mortgage's error in properly projecting escrow.
Regards,
[redacted]

Dear Mr. [redacted],360 Mortgage Group, LLC ("360 Mortgage") is in receipt of your complaint filed with the Revdex.com ("Revdex.com") regarding your request for a review of a potential loan modification of your primary residence.Our records reflect that your loan with 360 Mortgage is as follows:...

[redacted], with a Note Date of 12/21/15. This streamline refinance VA ARM loan, with an initial interest rate of 2.75% and a first interest rate change date of 04/01/21, is for your primary residence. The first payment due date per the Note was 02/01/16. Your loan is due for 05/01/16 and is in default. As of the date of this letter, your loan has 13 payments due.Your loan mentioned above is partially guaranteed by the U.S. Department of Veteran Affairs ("VA"). VA home retention options include repayment plans, special forbearances, and loan modifications. 360 Mortgage evaluates a mortgagor in default for mortgage payment assistance based on the VA eligibility requirements in the following order: repayment plan, special forbearance, standard loan modification, and VA-HAMP modification.Our records indicate that on 06/02/16 you called into our Customer Care Department to make a payment of $1000.00 and were advised that due to the delinquency on the account (4 months past due) you would need to either make 2 payments or be set up on a repayment plan. You were reviewed for a 6-month repayment plan and were issued an agreement on 07/06/16. You did not return the signed agreement for this repayment plan and the plan was subsequently considered broken.In your complaint you state your desired settlement is "all I am wanting is my modification to be able to get approved."As of the date of this letter, you have not submitted a complete Borrower Response Package; therefore, we are unable to evaluate your loan for potential home retention options. We will not evaluate you based on an incomplete Borrower Response Package. A chronology of attempts regarding efforts to obtain a complete package is as follows:09/20/16: 7 pages of documents were received via fax (Incomplete Uniform Borrower Assistance Form, 4506T Form, 2015 VA Benefit Award Letter, Benefit Payment History for 9/1/16 payment with a differing amount of benefit from the award letter).09/29/16: An Acknowledgment of a Borrower Response Package was mailed, which listed missing documentation needed.11/08/16: A Cease and Desist notice was received requesting that direct communication with you end. 12/08/16: An Application Withdrawal Notice was issued as we did not receive any of the additional documents to complete your application package.01/06/17: 6 pages of documents were received via email (pages 3, 4, 5, and 6 of a Request for Mortgage Assistance Form, single page printout of bank transaction history, 2017 VA Benefit Award Letter). 01/25/17: An Acknowledgment of a Borrower Response Package was mailed to your authorized third party, which listed missing documentation needed.02/21/17: A request to remove the Cease and Desist on file was received.02/27/17: An Application Withdrawal Notice was issued as we did not receive any of the additional documents to complete your application package.03/07/17: 11 pages of documents were received via fax (HAMP Hardship Affidavit Form, incomplete Uniform Borrower Assistance Form, incomplete 4506T form, single page printout of bank transaction history, 2017 VA Benefit Award Letter, VA Payment History for 2/1/17).03/21/17: An Acknowledgment of a Borrower Response Package was mailed, which listed missing documentation needed.04/11/17: 8 pages of documents were received via fax (Uniform Borrower Assistance Form, 4506T form, Hardship Letter, 2017 VA Benefit Award Letter (duplicate), VA Payment History for 2/1/17 (duplicate)). 04/19/17: Documents were reviewed and determined incomplete. Missing items include: Monthly expense breakdown, Tax Returns (or letter of explanation if not required to file), 2 consecutive bank statements for all accounts, proof of additional income you stated as "Other Employment $2,038.40"). 04/21/17: An Application Withdrawal Notice was issued.04/26/17: 2 pages were received via fax (page 2 of a Uniform Borrower Assistance Form, single page printout of bank transaction history).05/03/17: Documents were reviewed and determined incomplete. Missing items include: Monthly expense breakdown, Tax Returns (or letter of explanation if not required to file), 2 consecutive bankstatements for all accounts, proof of additional income you stated as "Other Employment $2,038.40").If you wish to re-apply for home retention options, please submit a complete Borrower Response Package with all applicable financial documents to us via fax at [redacted], via mail at 360 Mortgage Group, LLC, [redacted], or via email at [redacted] as soon as possible.Documentation required for a complete package include the following items:·Uniform Borrower Assistance Form·HAMP Hardship Affidavit Form·4506T Form·Most recently filed Federal Tax Returns, complete with all pages (signed and dated)·Hardship Explanation Letter (signed and dated)·Breakdown of all monthly household expenses (signed and dated)·2 most recent consecutive bank statements for all accounts (complete statement printouts)·For all benefit income received: Current award letter and 2 months proof of receipt of this income·For all wage earnings: 30 days of consecutive paystubs (minimum 2)·For all self-employment earnings: Current quarterly P&L statement with corresponding business bank statements and business tax returns·For contribution income: Contribution letter, credit authorization form, 4506T form, proof of residency, proof of income, tax returns, and 2 most recent bank statementsAs explained in the Acknowledgment of Receipt of Borrower Response Package letter, documents are valid for 90 calendar days. Documents that are received illegible or incomplete will need to be resubmitted.Please be advised that your ARM loan provides the 2.75% initial interest rate cannot change before 4/1/2021. Loan modifications per VA guidelines must be for fixed interest rates, which are presently 4.125%. We want to make sure that you understand that if a loan modification is approved upon receipt and evaluation of a complete borrower response package, it may result in a higher payment as a result of current fixed interest rates being higher than your initial ARM interest rate. Loan modifications do not necessarily result in lower payments.Best regards,Loss Mitigation Department 360 Mortgage Group, LLC

We are researching the matter and will respond as soon as possible. Thank you.

Good morning [redacted],   Thank you for taking the time to write to us. As per the Real Estate Settlement Procedures Act (RESPA) of 1974, a bank has up to 30 days to return a borrower’s remaining escrow funds in cases like these. Given your loyalty to our company, we would like to expedite the...

process for you. To do so, we need your old loan number. Please call [redacted] with your old loan number so we may get this taken care of for you as soon as possible.   Thank you, 360 Mortgage Group, LLC

Complaint: [redacted]
I am rejecting this response because:I do not feel that 360Mortgage is owning up to their significant error. As a customer I expect 360 Mortgage to take proper steps to ensure the solvency of my account through financial projections, such as review of several years tax history, flagging of dramatic tax changes, and a system of checks and balances that would have prevented this error in the first place. I am not a mortgage or escrow expert, that is what I look to 360 Mortgage company to assist me with and I have put my trust in the companies polices and procedures. I feel that this was not done and did want to speak with upper management regarding this. I was told I could not speak with upper management as requested and my complaint would go no further. I would still like a response owning up to this error by upper management and their consideration of resolving this financially from their end.

May 6, 2016 [redacted]
[redacted]
[redacted]Dear Mr. [redacted], We are in receipt of your complaint filed with the Revdex.com, regarding a marketing...

mail piece you received from our company.  It seems that you responded to our offer and were ultimately denied due to your credit history.  While our flyer did in fact list that No Minimum Credit Score was required, it also included a superscript which refers you to additional terms and conditions on the back of the piece.  Please see below.  We apologize for any misunderstanding, but assure you that we take every precautionary measure available to make sure that each mail piece meets the necessary requirements to be in compliant.  We would be more than happy to look into your ability to refinance again down the road should you so choose for us to.   I hope that this letter satisfies your concerns regarding this matter.  Should you have additional questions please contact me directly at [redacted].   Sincerely,   [redacted]

Complaint: 11849707
I am rejecting this response because:I received the first attached document from Strive Lending in reference to 360 Mortgage’s response, dated November 15th, which served as a notification to all regarding the “sudden changes” in 360’s wholesale policies and procedures. This change would essentially impact the locked rates of loans in the pipeline regardless of their status by declining rate extensions should they expire. The letter also goes on to imply that even if a loan does not fall within that expiration criteria, there are other reasons the loan could potentially be declined under these new policy changes. The statement was left open for interpretation that even if a loan was locked in and a closing date confirmed by or before November 15th, a loan suspension was still possible for other reasons (detailed in the letter). Reason #3 on this list just so happens to be the reason our loan was suspended at a 2.75% APR which, by the way, is no longer the market rate being offered: 3. “Maximum LTV of 115% on fixed rate IRRRL transactions (validated by AVM). Broker may choose to order a 2055 appraisal to override an AVM value however the maximum LTV may not exceed 115%. Violation of this guideline will result in a loan suspension.  (This, even though we met all other applicable requirements).The 2nd attachment is the AVM report that was used to support the aforementioned suspension of our loan. However, the numbers are not only alarmingly inaccurate but they are also inconsistent with the actual value of our home based on two separate and certifiable appraisals conducted within the past two years, the most recent one being done in April, 2016. The supposed valuation of our home according to this unviable “summary, (and not even required by the VA for IRLLL streamline refinancing), estimated at a mere $150K, which exaggeratedly underestimated the value of our home by almost $25K and obviously would put us in that bracket of “violating” the valuation guidelines. Our home at initial purchase was valued at $174,900 and was purchased for $178,660. What bank would loan a borrower that amount of money for a home valued at a substantially lower price, in this case $25K lower? And if, by suggesting an appraisal be conducted to dispute the valuation, that would not even be an option for us at this point considering how close we are to our rate expiring (14 days) and the fact that this too can be a lengthy process. And since there are no exceptions for considering extensions, that suggestion is really pure fluff. Although this may not be “illegal” to issue such mandates midway through so many of these loans being processed, it IS an unprincipled and impractical way to conduct business with no room for customer compassion.And to the claim that 360 received nothing from Strive Lending until 11/22, I have substantiating correspondence between the two parties that I was not only carbon copied on but emailed copies of dating back to October 13th. I also received direct correspondence for 360. I can send these if necessary. Additionally, I received notification from my HOI on 11/22 of a change that listed 360 as our new lender (Mortgagee). Shouldn’t that have happened only during the final proceedings of closing? Why would an AVM be done this close to closing or to our rate expiring (11/25)?  At the end of the day I am not convinced that there were no underlying or shady dealings with our loan. Based on the “ironic” turn of events during the latter part of this process, to include new market changes due to the upcoming transition in the oval office, the timing just seems too convenient. But does it matter at this point, not really. I can only move forward with a now “slightly higher than anticipated” APR but with a different lender. My hope is that my learned mistake will be someone else’s saving grace. Regards,
[redacted]

Dear Mr. [redacted],First, 360 Mortgage Group, LLC ("360 Mortgage") wants to thank you for your military service. Over 60% of the loans we service are VA loans for veterans.In your complaint to the Revdex.com, your desired outcome was "I would like them to take my property taxes off of my monthly house...

payment, and stop giving me such a difficult time trying to get this done. I proudly served my Country in the Army and Marines for 14 years, by all rights should not even be alive right now, and I have to deal with people who treat me like a problem."We are pleased to inform you that property taxes will be removed from your escrow account requirements. Per direct discussion this morning with the Clayton County auditor, [redacted], your disabled veteran homestead exemption will take effect this fall with the next tax installment in September. Going forward you will not owe property taxes for as long as you reside in the [redacted]. 360 Mortgage will complete an updated escrow analysis with the taxes removed, which will reduce your future monthly payment amount and probably result in an overage refund to you.Prior to the Clayton County auditor's confirmation today, 360 Mortgage did not have documentation supporting a 100% exemption for property taxes as the county's taxing agency's records did not reflect such an exemption. The county assessor's office had confirmed that you had applied for an exemption, but it had not been processed to completion and the effective date of the exemption had not been determined. We could not take action to remove property taxes from your escrow without confirmation from the taxing agency / county auditor that you would receive 100% exemption and it will take effect the next tax due date. As you appreciate, many exemptions are partial to reduce the amount owed, not 100%.We appreciate your business and trust that this resolves your concerns.

Complaint: [redacted]
I am rejecting this response because:
Regards,
[redacted]

Thank you for taking my call last Thursday to discuss your concerns with your escrow analysis shortage.As we discussed, there are three factors contributing to your escrow shortage:Your property taxes increased $356.36 from 2014 to 2015, largely due to the Collin County Appraisal district increasing...

the taxable value of your property. This was a 7.11% increase in taxes. 360 Mortgage Group paid the correct amounts to the correct taxing agencies, with the payments made in 2015 so you could take advantage of your 2015 assessed taxes being paid in 2015 for deduction purposes on your 2015 personal income tax return. From my quick review, it appears you are taking advantage of the exceptions available to you from the local taxing agencies - homestead and veteran. With your next payment change being March 1, 2016, and your taxes scheduled to be paid in December 2016, there are a few catch up months that apply to the higher taxes to prepare for the December 2016 payments.Your homeowner's insurance premiums increased $349.36 from 2014 renewal to 2015 renewal, with the most recent premium amount being $2,988.52. This was a 13.25% increase in premiums, which is substantial. As we discussed, you are covering your home for $310,000. You might want to consider reviewing your coverage level and whether USAA, or another insurer, might have a better premium rate for your desired coverage level. With your next payment change being March 1, 2016 and your policy renewing in October, there are a few catch up months that apply to the higher premium to prepare for the October 2016 renewal.As we discussed, when your loan closed, the initial escrow analysis that was provided to you and that you signed (copy enclosed), shows your property taxes as being paid in January 2016.Had we paid your property taxes in January 2016, you would not be able to deduct them on your 2015 income tax return.Had the initial escrow analysis at closing shown your taxes would be paid in December 2015, as they were, you would have been required to contribute $637.67 additional amount into your initial escrow balance at closing.This $637.67 is 40% of the escrow shortage amount, and again as we discussed, payment in December of 2015 provided you the deduction for 2015 property taxes on your 2015 personal income tax return. The same will be true in 2016 when we pay your taxes in December 2016. Moving the payment month from January 2016 to Decemberwww.360Mtg.CustomerCareNet.com[redacted]
2015 contributes to the shortage, or you would have been required to pay this into your escrow at closing.To assist you with your escrow shortage, I offered to extend the period of time over which the shortage is spread to 24 months from 12 months to reduce the shortage spread from $131.58 per month to $65.79 per month. I have asked my team to make this change on your behalf.Thank you again for your time to discuss and explain the shortage.Regards,[redacted]Vice President - ServicingCC: Revdex.comThank you.

Good Morning,Payment for Mr. [redacted]'s work was processed on Friday, April 10.  We apologize for any inconvenience.  Please contact us with any questions.Thank you,[redacted]###-###-####

Please review attachment.  Thank you.

Please provide a reason for your rejection. Thank you.

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.
Regards,
[redacted]

We will research this issue and respond as soon as possible.Thank you.