The resolution of the title issue was not delayed by or caused by CrossCountry Mortgage The property the consumer was attempting to purchase was encumbered by a third party's lien that had to be released before the loan could be completed CrossCountry Mortgage went above and beyond to assist the consumer and the seller with its resolution As to the allegation that the attorney was waiting on information from CrossCountry Mortgage to release the lien, that is not correct It wasn't CrossCountry Mortgage's lien and there was no information CrossCountry Mortgage could provide to resolve it. As to the complaint that additional information was requested, yes as stated previously documentation needs to be updated throughout the loan application process Updating documentation is not unique to this consumer's application.The customer states that it paid to hold the interest rate CrossCountry Mortgage did NOT collect a fee to hold the interest rate The consumer may be confusing that with the appraisal fee which the consumer did pay The appraisal fee is a third party fee (through a licensed third party appraisal management company), CrossCountry Mortgage does not profit from it or receive any portion of it. Finally, CrossCountry Mortgage recently spoke with the seller and confirmed that he is still holding the escrow According to the seller, the escrow has not been returned as the consumer has not asked for it Please let me know if additional information is needed
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.*** *** *** was well aware that I was not renting the home I currently live in I was referred tohim by my AttorneySo all of these statements that have been made or statements, there was nothing hidden from Cross Country they *** *** and *** *** were very aware of everything that was going on with my fileYes my attorney did send a email to reach out to *** after he stating lying to his boss saying he thought I said I was renting the home which is clearly a lie he knew from day one I was not renting the home. *** *** *** took my bank card information and told me that I was being charged for the appraisal my card was charged for when I asked why he didn’t even know whyThis company misrepresent things and then try to cover it up to may the customers look badI want a full refund of my that I gave my card information to *** *** for.Also *** *** has emailed and called me asking if I with draw my complaint he can get the loan done see attachmentHe also told my agent the same thing I want a full refund of my money paid to Cross Country
Regards,
*** ***
CrossCountry Mortgage offers a variety of loan programs whereby no minimum credit score is required. However, it is important to mention that credit score is one of many factors that is considered when evaluating a consumer’s ability to refinance a current loan. So, the statement that
no minimum credit score is required, does not necessarily mean that a consumer will be able to refinance their loan with CrossCountry Mortgage, and we feel is not misleading. Next, we would like to address the issue raised about not wanting a “hard hit” to the consumer’s credit if the refinance could not be approved. As part of the refinance process, CrossCountry Mortgage normally reviews credit information in order to determine whether they can move forward with a loan, or to determine what loan program may be most suitable to the consumer. In this particular case, MrC***’s recollection is that Ms***-*** gave her consent to pull credit, and does not recall her mentioning that she did not want a hard hit on her credit. As to Ms***-***’s statements about specific credit items on her record, CrossCountry may identify specific items, that if addressed, the consumer could then revisit a refinance with our company, if for some reason the current state of her credit presented a challenge to being able to place her into one of the many loan programs we offer. While specific items on credit may be identified, whereby addressing those items can have a positive impact on credit generally, CrossCountry Mortgage does not provide specific information as to the impact, i.especific points a credit score will increase if something is done. In this particular case, MrC***’s recollection is that while he discussed some items on credit that would need to be addressed with Ms***-***, he did not represent any specific result, which is consistent with CrossCountry Mortgage’s practice. Finally, as to advertising, we regularly review our advertising to make sure it is not misleading, and we feel that it was not misleading in this particular case. CrossCountry Mortgage will continue to review its marketing materials in the future, as we have always done. We regret that you did not have a good experience with CrossCountry Mortgage, as our goal is to provide a good customer. CrossCountry Mortgage does not feel that its advertising materials were or misleading
response received VIA e-mail from company as follows: I am emailing you regarding complaint ***, *** *** *** and CrossCountry had a misunderstanding with one of our branches in ***The Branch manager has helped her and the issues were resolved at closingThe Branch
Manager gave *** *** credit at the closing*** *** also stated that she would be removing the complaintThank you so much for helping us bridge a solution. Thank You, Anthony S***, Esq.Associate Corporate CounselCrosscountry Mortgage IncMiller RoadBrecksville, Ohio 44141Direct 440-671-Ext: ***anthony.s@myccmortgage.com
CrossCountry Mortgage does not perform appraisals and is not compensated in any way for appraisal orders Rather, appraisals are ordered through third-party appraisal management companies who contract directly with appraisers. Here the customer withdrew her loan application after
CrossCountry Mortgage asked for the customer's bank statements and asset statements It is unclear what impact the alleged appraisal issue had on that decision Can the customer provide additional information?
From: *** *** ***Date: Mon, May 11, at 9:AMSubject: RE: Response from Better Bus Bureau - Complaint No***To: *** *** ***Cc: *** *** *** ***. Soft inquires pursuant to USC 1681b(c)(1)(B)(i) do not need to be authorized A soft credit pull is a limited credit inquiry for the promotional, firm offer of creditHere is one of many summaries available on soft credit pulls: http://money.usnews.com/money/blogs/my-money/2014/07/24/the-difference-between-h...⇄ I do not have any accounts under your name and social. Please let me know if you need anything further
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below
I disagree I think a third party needs to review the information that was attached to this complaint I do not agree with Bill L***, there was no reason for a re-lock fee of over dollars nor any changes with the original estimate I would have not needed to bring cash to the closing even with the changes so Bill is clearly lying Revdex.com - please have a third party review the information I disagree with the claims CCM is making Regards,
*** ***
From: *** *** ***Date: Thu, Oct 8, at 5:PMSubject: RE: CrossCountry Mortgage - Complaint *** ***To: *** *** *** The main issue with this customer’s mortgage loan application was that a second mortgage by *** that was thought to be discharged in bankruptcy was not The customer’s payments on the *** obligation appeared to be delinquent and CrossCountry requested verification Unfortunately, the customer was unable to provide verification. As for the allegation concerning the customer’s insurance, the insurance company was contacted to verify coverage and to have the correct mortgagee clause and loss payee in place for if/when the refinance closed The customers coverage should not have changed until closing If the consumer has additional information or a contact at the insurance company, CrossCountry can investigate further. As for the fees that were charged by third parties: CrossCountry did request that the engineering certificate be expedited as the property is in rural *** and it did saved a significant amount of time The expedited fee was $ This was not paid by the customer as it was guaranteed with the CrossCountry credit card pending closing CrossCountry recently called the engineering provider and the invoice remains unpaid The water test was requested by the consumer and expedited service was requested by the consumer The water inspector’s notes show an addition fee of $for expedited 3-day service. CrossCountry would like to resolve this customer’s issues and can offer to pay the engineering fee. If you need any additional information, please let me know. Alex ** R*** ***Corporate Counsel* ***
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID 12317029, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below
[To assist us in bringing this matter to a close, we would like to know your view on the matter.]
Regards,
Thomas ***
I have reviewed Mr***s response (who I have never spoken with so I find it hard to believe he knows what I was told) and I find it to be incorrect at besthe keeps refering to my terms and rates when all I did was simply get a quote and they provided the payment info and ratesi sent Andrew *** a email that stated that I was reconsidering because I didnt want to add 9k in closing cost to my mortgage and he explained to me that on of the reasons it would not be that much was because of the $i would be getting back from my escrow accounti have spoken with two different reps from *** who said they have documentation that crosscountry asked for my funds to be wired to them and not used for a payoffif that was the case I should have been told that from the begining and not misleadMr***s statment that I gave someone a call or was even asked to make a call of that nature is a liei would like for the person I had the phone conversation with to respond to this complaint the lesson here is that when I sent the email questioning the deal I was asked to call the next day and I should have asked for what I was told in writingit is a shame that you can't trust the company you are counting on to write your mortgagei have emailed and called andrew *** several times but he will not respond because he knows what he told meMr*** was correct in one thing I was giving a response by another person not involved in my mortgage but unfortunatly it was inacurate as wellMr*** should know that his account of this situation does not clarify the issues for me
CrossCountry Mortgage stands behind its earlier statements that this consumer was advised that her credit issues could be an impediment to approval Additionally, the fees she paid were to third parties, for example the appraisal management company and home inspector CrossCountry Mortgage has not received any money from this customer
This business response was received by Revdex.com staff member ** via email and is a copy/paste.CrossCountry Mortgage takes all complaints seriously and wishes to only provide quality customer serviceMr*** was interested in a refinanceDuring the process, a customer may be pre-approved or goes
through the pre-approval process to get an idea of the customer’s loan packageThe appraisal is an important component of the process to solidify terms and ratesAppraisals are conducted by a third party and are completely separate from CrossCountryThe appraiser and CrossCountry operate at an arm’s lengthBecause of the independent nature of the relationship, the cost of an appraisal falls to the customerWhile it is understandable that the customer is disappointed in the appraised value of his home, the appraisal value is the only report that can determine terms for the refinance. Additionally, CrossCountry became aware of another customer owned property which caused the customer’s debt to income ratio to increaseBecause of the debt to income ratio increase, the refinance was no longer beneficial to the customer. While it is unfortunate that the customer was disappointed in the process, CrossCountry will take this opportunity to continue to grow and provide quality customer service moving forward. Thank You, Anthony RS***Associate Corporate CounselCrosscountry Mortgage Inc.*** *** ***
*** *** ***
*** *** *** ***
***
(The following was copy/paste by Revdex.com staff - ***)***From: Anthony *** Date: Wed, Aug 16, at 4:PMSubject: Thomas *** Revdex.com ComplaintTo: Lou *** Good Afternoon Lou, We have received Mr***’s responseCrossCountry again would like to apologize to Mr*** for the type of customer experience he hadAs stated in our response, the payoff statement we attached shows that the escrow account balance was applied towards the principalWe never made a wire requestFurther, *** would have never accepted or applied the escrow balance without permission from Mr***Even as Mr*** explains in his response, CrossCountry communicated to him that the closing costs were going to come down because of the escrow balance being refunded; however, CrossCountry did not outwardly communicate to Mr*** that he would be receiving the escrow balance refund directlyAs we stated in our response, CrossCountry in the beginning stated it was an option and could potentially be given back to him as a check; but, a refund ultimately would be contingent on the circumstances It is unfortunate that Mr*** and CrossCountry have had some miscommunication; however, the use of the funds were communicated to Mr***. Thank You, Anthony R***Associate Corporate CounselCrosscountry Mortgage IncMiller RoadBrecksville, Ohio 44141Direct 440-671-Ext: 1008***
Payment to the pest vendor was processed but was recalled upon notification from the customer that she had already paid it CrossCountry Mortgage sent a reimbursement check directly to this customer Provided sufficient time, CrossCountry Mortgage was going to pay the vendor directly
VIA E-MAIL ONLYMarch 25, Email: ***Revdex.com, Inc.Attention: *** ***E-Mail: ***RE: CROSSCOUNTRY MORTGAGE, INC.’S RESPONSE TO COMPLAINT NO*** ***,Please let the following serve as CrossCountry Mortgage, Inc.’s
(“CrossCountry”) response to complaint no***.In late January, 2015, the customer applied for a pur*** mortgage loan with CrossCountry Mortgage, Inc(“CrossCountry”) for the property in *** ***The customer had recently come out of a Chapter Bankruptcy in which her current home loan for property in *** *** was discharged but she continued to live in the propertyThe customer represented to CrossCountry’s loan officer that she was renting the property from her lender, ***. During the course of originating the loan, CrossCountry was made aware that the customer stilled owned the property and was still making payments to *** pursuant toher loanFor example, the customer’s attorney sent an email on February 24, 2015 explaining the circumstances surrounding the *** loanAt that point, CrossCountry advised the customer that there may be an issue because her current loan was an FHA loan and she was applying for a second FHA loanOn February 26, 2015, CrossCountry spoke with a representative from HUD about the situation and was provided specific guidanceIn summary, HUD required verification that the customer was not planning on buying the new property with the intent of allowing her current loan to go into foreclosure. One of the requirements was for the customer to be current with her current *** loan for the last twelve monthsThe customer represented to CrossCountry that she wascurrent with the *** account and had been for some timeBased on that representation, CrossCountry continued to work with the customer to meet the other HUD specific requirements. Unfortunately, on March 20, 2015, it was confirmed during a conference call with *** that the customer has not been current with her *** loan for the prior twelve months but has only been current since May of 2014. CrossCountry Mortgage, Inc• Miller Road • Brecksville, OH • NMLS• MB.803095.000CrossCountry has diligently communicated with this customer the facts and circumstances of her loan and diligently processed the applicationOtherwise, CrossCountry denies the allegations in the customer’s complaint. If you require any additional information or have any questions, please contact me at *** or ***.*** *** ** *** ** ***, Esq. Corporate Counsel
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.It’s rather unfortunate to see a company so opposed to assisting a customer that they will flat out lie in a responseCrosscountry continues to blame the fact that an appraisal is required on Fannie Mae; however, I spoke to Royce at Fannie Mae and he stated that an appraisal is not requiredHe presented additional options which I attempted to display to CrosscountryCrosscountry, however, works so hard to not help their customers that they take information from you but tell you that you can’t talk to the person that actually makes any decisionsThey tell you that you will receive a response in writingAll this does is delay the possibility of removing our PMI and they continue to steal money from usWe were ready to remove PMI months after our purchase (May 2016) and we finally had to give up and pay $400+ to have an appraisal that took minutes, we were advised isn’t required (by Fannie Mae) and also never anticipated based on how we were advised when we purchased the home Crosscountry legitimately stole money from us for nearly months and worked very hard to slow down our process and not work with us at allIf Crosscountry continues to refuse our refund requests, I will have to continue filing complaintsIt’s truly unfair that a company can blatantly steal from customers and literally not careCrosscountry knows that they can take advantage of customers who don’t have the means to obtain legal representationI was really counting on the Revdex.com and I’m still hoping that the Revdex.com can provide some assistance Revdex.com, thanks for continuing to work with us on thisI apologize on behalf of us for selecting such a poor company when it comes to the customer experienceWe will continue to fight for all of the little guys who are slammed with fees, upon fees, upon fees…red tape, etc
Regards,
*** ***
This customer applied for a mortgage loan with CrossCountry Mortgage As part of the loan application process, CrossCountry Mortgage made follow up phone calls At the customer's request, he has been placed on CrossCountry Mortgage's internal do not cal list
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below
I have attached the letter received from Shane N*** with Crosscountry mortgage stating approvalIf requested I can also forward text messages from Shane as well. There was no decrease in income
Regards,
*** ***
The individual who submitted the complaint is not the borrower on the loan application and therefore CrossCountry Mortgage cannot discuss the facts and circumstances of the application with her via the Revdex.com website CrossCountry Mortgage will contact the customer directly to verify what issues
he may have
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me. Hopefully they have done what they saidHowever, if I hear
from them again, I will let you know
Regards,
*** ***
CrossCountry Mortgage adheres to Fannie Mae's guidance regarding the termination of mortgage insuranceThat guidance, found in Fannie Mae's servicing manual Section B-8.1-04, states that mortgage insurance may be removed when the outstanding loan balance reaches 80% of the original value of the
subject property However, prior to removing the mortgage insurance, the servicer (CrossCountry Mortgage) is obligated to verify that the current value of the property is not less than what it was at the time the loan was originated CrossCountry Mortgage sent the attached letter to the customer on June 30th advising that he had to make a principle reduction and purchase a new appraisal to verify the value in order for the mortgage insurance to be terminated
The resolution of the title issue was not delayed by or caused by CrossCountry Mortgage The property the consumer was attempting to purchase was encumbered by a third party's lien that had to be released before the loan could be completed CrossCountry Mortgage went above and beyond to assist the consumer and the seller with its resolution As to the allegation that the attorney was waiting on information from CrossCountry Mortgage to release the lien, that is not correct It wasn't CrossCountry Mortgage's lien and there was no information CrossCountry Mortgage could provide to resolve it. As to the complaint that additional information was requested, yes as stated previously documentation needs to be updated throughout the loan application process Updating documentation is not unique to this consumer's application.The customer states that it paid to hold the interest rate CrossCountry Mortgage did NOT collect a fee to hold the interest rate The consumer may be confusing that with the appraisal fee which the consumer did pay The appraisal fee is a third party fee (through a licensed third party appraisal management company), CrossCountry Mortgage does not profit from it or receive any portion of it. Finally, CrossCountry Mortgage recently spoke with the seller and confirmed that he is still holding the escrow According to the seller, the escrow has not been returned as the consumer has not asked for it Please let me know if additional information is needed
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.*** *** *** was well aware that I was not renting the home I currently live in I was referred tohim by my AttorneySo all of these statements that have been made or statements, there was nothing hidden from Cross Country they *** *** and *** *** were very aware of everything that was going on with my fileYes my attorney did send a email to reach out to *** after he stating lying to his boss saying he thought I said I was renting the home which is clearly a lie he knew from day one I was not renting the home. *** *** *** took my bank card information and told me that I was being charged for the appraisal my card was charged for when I asked why he didn’t even know whyThis company misrepresent things and then try to cover it up to may the customers look badI want a full refund of my that I gave my card information to *** *** for.Also *** *** has emailed and called me asking if I with draw my complaint he can get the loan done see attachmentHe also told my agent the same thing I want a full refund of my money paid to Cross Country
Regards,
*** ***
CrossCountry Mortgage offers a variety of loan programs whereby no minimum credit score is required. However, it is important to mention that credit score is one of many factors that is considered when evaluating a consumer’s ability to refinance a current loan. So, the statement that
no minimum credit score is required, does not necessarily mean that a consumer will be able to refinance their loan with CrossCountry Mortgage, and we feel is not misleading. Next, we would like to address the issue raised about not wanting a “hard hit” to the consumer’s credit if the refinance could not be approved. As part of the refinance process, CrossCountry Mortgage normally reviews credit information in order to determine whether they can move forward with a loan, or to determine what loan program may be most suitable to the consumer. In this particular case, MrC***’s recollection is that Ms***-*** gave her consent to pull credit, and does not recall her mentioning that she did not want a hard hit on her credit. As to Ms***-***’s statements about specific credit items on her record, CrossCountry may identify specific items, that if addressed, the consumer could then revisit a refinance with our company, if for some reason the current state of her credit presented a challenge to being able to place her into one of the many loan programs we offer. While specific items on credit may be identified, whereby addressing those items can have a positive impact on credit generally, CrossCountry Mortgage does not provide specific information as to the impact, i.especific points a credit score will increase if something is done. In this particular case, MrC***’s recollection is that while he discussed some items on credit that would need to be addressed with Ms***-***, he did not represent any specific result, which is consistent with CrossCountry Mortgage’s practice. Finally, as to advertising, we regularly review our advertising to make sure it is not misleading, and we feel that it was not misleading in this particular case. CrossCountry Mortgage will continue to review its marketing materials in the future, as we have always done. We regret that you did not have a good experience with CrossCountry Mortgage, as our goal is to provide a good customer. CrossCountry Mortgage does not feel that its advertising materials were or misleading
response received VIA e-mail from company as follows: I am emailing you regarding complaint ***, *** *** *** and CrossCountry had a misunderstanding with one of our branches in ***The Branch manager has helped her and the issues were resolved at closingThe Branch
@myccmortgage.com
Manager gave *** *** credit at the closing*** *** also stated that she would be removing the complaintThank you so much for helping us bridge a solution. Thank You, Anthony S***, Esq.Associate Corporate CounselCrosscountry Mortgage IncMiller RoadBrecksville, Ohio 44141Direct 440-671-Ext: ***anthony.s
CrossCountry Mortgage does not perform appraisals and is not compensated in any way for appraisal orders Rather, appraisals are ordered through third-party appraisal management companies who contract directly with appraisers. Here the customer withdrew her loan application after
CrossCountry Mortgage asked for the customer's bank statements and asset statements It is unclear what impact the alleged appraisal issue had on that decision Can the customer provide additional information?
From: *** *** ***Date: Mon, May 11, at 9:AMSubject: RE: Response from Better Bus Bureau - Complaint No***To: *** *** ***Cc: *** *** *** ***. Soft inquires pursuant to USC 1681b(c)(1)(B)(i) do not need to be authorized A soft credit pull is a limited credit inquiry for the promotional, firm offer of creditHere is one of many summaries available on soft credit pulls: http://money.usnews.com/money/blogs/my-money/2014/07/24/the-difference-between-h...⇄ I do not have any accounts under your name and social. Please let me know if you need anything further
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below
I disagree I think a third party needs to review the information that was attached to this complaint I do not agree with Bill L***, there was no reason for a re-lock fee of over dollars nor any changes with the original estimate I would have not needed to bring cash to the closing even with the changes so Bill is clearly lying Revdex.com - please have a third party review the information I disagree with the claims CCM is making Regards,
*** ***
From: *** *** ***Date: Thu, Oct 8, at 5:PMSubject: RE: CrossCountry Mortgage - Complaint *** ***To: *** *** *** The main issue with this customer’s mortgage loan application was that a second mortgage by *** that was thought to be discharged in bankruptcy was not The customer’s payments on the *** obligation appeared to be delinquent and CrossCountry requested verification Unfortunately, the customer was unable to provide verification. As for the allegation concerning the customer’s insurance, the insurance company was contacted to verify coverage and to have the correct mortgagee clause and loss payee in place for if/when the refinance closed The customers coverage should not have changed until closing If the consumer has additional information or a contact at the insurance company, CrossCountry can investigate further. As for the fees that were charged by third parties: CrossCountry did request that the engineering certificate be expedited as the property is in rural *** and it did saved a significant amount of time The expedited fee was $ This was not paid by the customer as it was guaranteed with the CrossCountry credit card pending closing CrossCountry recently called the engineering provider and the invoice remains unpaid The water test was requested by the consumer and expedited service was requested by the consumer The water inspector’s notes show an addition fee of $for expedited 3-day service. CrossCountry would like to resolve this customer’s issues and can offer to pay the engineering fee. If you need any additional information, please let me know. Alex ** R*** ***Corporate Counsel* ***
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID 12317029, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below
[To assist us in bringing this matter to a close, we would like to know your view on the matter.]
Regards,
Thomas ***
I have reviewed Mr***s response (who I have never spoken with so I find it hard to believe he knows what I was told) and I find it to be incorrect at besthe keeps refering to my terms and rates when all I did was simply get a quote and they provided the payment info and ratesi sent Andrew *** a email that stated that I was reconsidering because I didnt want to add 9k in closing cost to my mortgage and he explained to me that on of the reasons it would not be that much was because of the $i would be getting back from my escrow accounti have spoken with two different reps from *** who said they have documentation that crosscountry asked for my funds to be wired to them and not used for a payoffif that was the case I should have been told that from the begining and not misleadMr***s statment that I gave someone a call or was even asked to make a call of that nature is a liei would like for the person I had the phone conversation with to respond to this complaint the lesson here is that when I sent the email questioning the deal I was asked to call the next day and I should have asked for what I was told in writingit is a shame that you can't trust the company you are counting on to write your mortgagei have emailed and called andrew *** several times but he will not respond because he knows what he told meMr*** was correct in one thing I was giving a response by another person not involved in my mortgage but unfortunatly it was inacurate as wellMr*** should know that his account of this situation does not clarify the issues for me
CrossCountry Mortgage stands behind its earlier statements that this consumer was advised that her credit issues could be an impediment to approval Additionally, the fees she paid were to third parties, for example the appraisal management company and home inspector CrossCountry Mortgage has not received any money from this customer
This business response was received by Revdex.com staff member ** via email and is a copy/paste.CrossCountry Mortgage takes all complaints seriously and wishes to only provide quality customer serviceMr*** was interested in a refinanceDuring the process, a customer may be pre-approved or goes
through the pre-approval process to get an idea of the customer’s loan packageThe appraisal is an important component of the process to solidify terms and ratesAppraisals are conducted by a third party and are completely separate from CrossCountryThe appraiser and CrossCountry operate at an arm’s lengthBecause of the independent nature of the relationship, the cost of an appraisal falls to the customerWhile it is understandable that the customer is disappointed in the appraised value of his home, the appraisal value is the only report that can determine terms for the refinance. Additionally, CrossCountry became aware of another customer owned property which caused the customer’s debt to income ratio to increaseBecause of the debt to income ratio increase, the refinance was no longer beneficial to the customer. While it is unfortunate that the customer was disappointed in the process, CrossCountry will take this opportunity to continue to grow and provide quality customer service moving forward. Thank You, Anthony RS***Associate Corporate CounselCrosscountry Mortgage Inc.*** *** ***
*** *** ***
*** *** *** ***
***
(The following was copy/paste by Revdex.com staff - ***)***From: Anthony *** Date: Wed, Aug 16, at 4:PMSubject: Thomas *** Revdex.com ComplaintTo: Lou *** Good Afternoon Lou, We have received Mr***’s responseCrossCountry again would like to apologize to Mr*** for the type of customer experience he hadAs stated in our response, the payoff statement we attached shows that the escrow account balance was applied towards the principalWe never made a wire requestFurther, *** would have never accepted or applied the escrow balance without permission from Mr***Even as Mr*** explains in his response, CrossCountry communicated to him that the closing costs were going to come down because of the escrow balance being refunded; however, CrossCountry did not outwardly communicate to Mr*** that he would be receiving the escrow balance refund directlyAs we stated in our response, CrossCountry in the beginning stated it was an option and could potentially be given back to him as a check; but, a refund ultimately would be contingent on the circumstances It is unfortunate that Mr*** and CrossCountry have had some miscommunication; however, the use of the funds were communicated to Mr***. Thank You, Anthony R***Associate Corporate CounselCrosscountry Mortgage IncMiller RoadBrecksville, Ohio 44141Direct 440-671-Ext: 1008***
Payment to the pest vendor was processed but was recalled upon notification from the customer that she had already paid it CrossCountry Mortgage sent a reimbursement check directly to this customer Provided sufficient time, CrossCountry Mortgage was going to pay the vendor directly
VIA E-MAIL ONLYMarch 25, Email: ***Revdex.com, Inc.Attention: *** ***E-Mail: ***RE: CROSSCOUNTRY MORTGAGE, INC.’S RESPONSE TO COMPLAINT NO*** ***,Please let the following serve as CrossCountry Mortgage, Inc.’s
(“CrossCountry”) response to complaint no***.In late January, 2015, the customer applied for a pur*** mortgage loan with CrossCountry Mortgage, Inc(“CrossCountry”) for the property in *** ***The customer had recently come out of a Chapter Bankruptcy in which her current home loan for property in *** *** was discharged but she continued to live in the propertyThe customer represented to CrossCountry’s loan officer that she was renting the property from her lender, ***. During the course of originating the loan, CrossCountry was made aware that the customer stilled owned the property and was still making payments to *** pursuant toher loanFor example, the customer’s attorney sent an email on February 24, 2015 explaining the circumstances surrounding the *** loanAt that point, CrossCountry advised the customer that there may be an issue because her current loan was an FHA loan and she was applying for a second FHA loanOn February 26, 2015, CrossCountry spoke with a representative from HUD about the situation and was provided specific guidanceIn summary, HUD required verification that the customer was not planning on buying the new property with the intent of allowing her current loan to go into foreclosure. One of the requirements was for the customer to be current with her current *** loan for the last twelve monthsThe customer represented to CrossCountry that she wascurrent with the *** account and had been for some timeBased on that representation, CrossCountry continued to work with the customer to meet the other HUD specific requirements. Unfortunately, on March 20, 2015, it was confirmed during a conference call with *** that the customer has not been current with her *** loan for the prior twelve months but has only been current since May of 2014. CrossCountry Mortgage, Inc• Miller Road • Brecksville, OH • NMLS• MB.803095.000CrossCountry has diligently communicated with this customer the facts and circumstances of her loan and diligently processed the applicationOtherwise, CrossCountry denies the allegations in the customer’s complaint. If you require any additional information or have any questions, please contact me at *** or ***.*** *** ** *** ** ***, Esq. Corporate Counsel
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below.It’s rather unfortunate to see a company so opposed to assisting a customer that they will flat out lie in a responseCrosscountry continues to blame the fact that an appraisal is required on Fannie Mae; however, I spoke to Royce at Fannie Mae and he stated that an appraisal is not requiredHe presented additional options which I attempted to display to CrosscountryCrosscountry, however, works so hard to not help their customers that they take information from you but tell you that you can’t talk to the person that actually makes any decisionsThey tell you that you will receive a response in writingAll this does is delay the possibility of removing our PMI and they continue to steal money from usWe were ready to remove PMI months after our purchase (May 2016) and we finally had to give up and pay $400+ to have an appraisal that took minutes, we were advised isn’t required (by Fannie Mae) and also never anticipated based on how we were advised when we purchased the home Crosscountry legitimately stole money from us for nearly months and worked very hard to slow down our process and not work with us at allIf Crosscountry continues to refuse our refund requests, I will have to continue filing complaintsIt’s truly unfair that a company can blatantly steal from customers and literally not careCrosscountry knows that they can take advantage of customers who don’t have the means to obtain legal representationI was really counting on the Revdex.com and I’m still hoping that the Revdex.com can provide some assistance Revdex.com, thanks for continuing to work with us on thisI apologize on behalf of us for selecting such a poor company when it comes to the customer experienceWe will continue to fight for all of the little guys who are slammed with fees, upon fees, upon fees…red tape, etc
Regards,
*** ***
This customer applied for a mortgage loan with CrossCountry Mortgage As part of the loan application process, CrossCountry Mortgage made follow up phone calls At the customer's request, he has been placed on CrossCountry Mortgage's internal do not cal list
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below
I have attached the letter received from Shane N*** with Crosscountry mortgage stating approvalIf requested I can also forward text messages from Shane as well. There was no decrease in income
Regards,
*** ***
The individual who submitted the complaint is not the borrower on the loan application and therefore CrossCountry Mortgage cannot discuss the facts and circumstances of the application with her via the Revdex.com website CrossCountry Mortgage will contact the customer directly to verify what issues
he may have
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me. Hopefully they have done what they saidHowever, if I hear
from them again, I will let you know
Regards,
*** ***
CrossCountry Mortgage adheres to Fannie Mae's guidance regarding the termination of mortgage insuranceThat guidance, found in Fannie Mae's servicing manual Section B-8.1-04, states that mortgage insurance may be removed when the outstanding loan balance reaches 80% of the original value of the
subject property However, prior to removing the mortgage insurance, the servicer (CrossCountry Mortgage) is obligated to verify that the current value of the property is not less than what it was at the time the loan was originated CrossCountry Mortgage sent the attached letter to the customer on June 30th advising that he had to make a principle reduction and purchase a new appraisal to verify the value in order for the mortgage insurance to be terminated