I have requested another company handle my mortgage, and will not be satisfied until it is I was very disappointed in this company due to the lack of any kind of understanding or grace period after notifying them of the lack of notification of an increased mortgage Especially again as this raises it more than what I reported that I can affordAlmost $dollars is huge to me I definitely would have been on the phone had I been aware of the increase I have other obligations that I will not report on this page with some huge life changing occurrences that I needed to build up my credit and get everything back in good standing so I could move on and get back on my feet I have since found out I have not received some other bills or notifications, and as I am in good standing with those companies, meaning all of my bills are paid on time and in full they were more than happy to work with me so we can fix the situation which will require extra days for one and three for another Nothing was offered by lender live other than ruining my credit I have worked so hard to get back in good standing Someone else called me today while I was in meetings at work with a message that did not give a clear name as the message was garbled in the beginning After I got out of work which I have to do in order to be able to pay the bills, and twice in between meetings I tried to call this number A total of five times in allIt just kept going to voicemail No one called me back the first time until the Revdex.com was involved Poor customer service especially as all of my payments were made in full to the best of my knowledge Also the amount in question that started this whole thing the $was not reported as being recieved and the check has cleared through my bank, and thus clearly states that I was short for the month on January Very disappointed in this company as a result on a whole again I never want to work with this company again ever Something needs to be fixed before February
Lenderlive responded to the borrower by letter dated 12-24-capturing the below Lenderlive advised the borrower that various payment options are availableLenderlive offers payment via Automatic Clearing House (ACH) that would draft one time each month from the borrower's bank account Lenderlive also offers its customers the option to make a loan payment online at the investor's websiteIf this option is exercised, the borrower's loan payment will post the same business day if initiated prior to 3:p.m(MST) Lenderlive's records reflect receipt of a facsimile letter dated 10/26/and a facsimile letter dated 11/02/2015, both from a legal representative of the borrowersDue to the fact that Lenderlive did not receive third party authorization to respond directly to the law office's communications, Lenderlive sent a letter dated 12/04/to the borrower in response to this communication, in which the response letter was attached to Lenderlive's Revdex.com response letter In regards to the first issue, the borrower expressed concern that although the borrower scheduled a payment on 10/23/2015, the payment was not applied to the loan on the same dayLenderlive records reflect that the borrower's October contractual loan payment was received by Lenderlive on 10/28/from the borrower's financial institution and there were no credit implications In regards to the second issue, the borrower also expressed concern that although the borrower scheduled a payment on 09/25/2015, the payment was not applied to the loan on the same dayLenderlive's records reflect that the borrower's September contractual loan payment was received by Lenderlive on 09/25/from the borrower's financial institutionHowever, the funds received were returned from the borrower's bank as non-sufficient on 09/30/Therefore, Lenderlive reversed the payment received Lenderlive's records reflect that on 10/02/2015, we received another draft from the borrower's financial institutionLenderlive correctly posted receipt of the borrower's September contractual loan payment on 10/02/to the borrower's account, and correctly reported that the payment receipt date was outside of the 30-day payment period to the major credit bureaus In regards to the third issue, the borrower expressed concern that a scheduled payment on 06/30/was not applied to the borrower's loan the same dayLenderlive's records reflect that the scheduled payment on 06/30/was submitted at 11:p.m(MST)Lenderlive expressed that if the payment is scheduled prior to 3:p.m(MST), the loan payment will post the same business dayLenderlive's records further reflect that the June contractual loan payment was received by Lenderlive on 07/01/from the borrower's financial institutionLenderlive correctly posted the payment as received on 07/01/and correctly reported that the payment receipt date was outside of the 30-day payment period to the major credit bureaus In regards to the fourth issue, in response to the borrower's statement regarding a payment scheduled on 05/31/(which was a Sunday); Lenderlive's records reflect that the May contractual loan payment was received by Lenderlive on 06/01/(the next business day, which was a Monday) from the borrower's financial institutionHowever, the funds received were returned from the borrower's bank as non-sufficient on 06/04/Therefore, Lenderlive reversed the payment receivedLenderlive's records reflect that on 06/19/2015, Lenderlive received another draft from the borrower's financial institutionLenderlive correctly posted receipt of the May contractual loan payment on 06/19/and correctly reported that the payment receipt date was outside of the 30-day payment period to the major credit bureaus At this time, Lenderlive will not make any credit corrections as the payments were reported accurately to the bureaus as they were received Lenderlive is required to report the payments accurately to the Credit Reporting Bureaus as they are received per the Fair Credit Reporting Act (FCRA)
Complaint: [redacted] I am rejecting this response because:LenderLive continues to restate the same position with each responseI do not accept it as it shows that LenderLive does not have interest in the clients in which they serveLenderLive's position is to only do the bare minimum required by law and nothing moreUnfortunately, the mortgage industry has little oversight or consequences as was seen in during the mortgage crisisAnd companies like LenderLive continue to operate to the absolute minimum of their abilities simply because they canThey do not take into consideration what it right, ethical, or in the best interest of their clientsTheir claim that the escrow analysis was completed "timely and efficiently" is simply not trueIt was the minimum requirement by law, but it was not timely and efficientIf that was the case, there would not be such an excessive shortage.I requested a comparison of my 1-yr escrow shortage to their 1-yr average escrow shortage as a baseline for what is considered excessiveLenderLive responded that "there is no average shortage report that is created or run that LenderLive can provide"I did not ask for a reportI asked for a simple comparison of the average to my escrow shortage created by LenderLiveIf LenderLive does not track, understand, or have access the shortage amounts for all the escrow accounts in which they service, then how are they operating and keeping track of shortage payments? This again seems like negligence and mismangementI understand that escrow analysis is unique to each person's parcel of land and property taxes, but an average of escrow shortages should be easy to calculateI am sure that LenderLive has the data necessary to do soBut again, they choose not to because it's not required by law.I also do not understand why LenderLive continues to state that, "regardless of whether or the escrow analysis for the borrowers' loan was run in February or December, a significant shortage would have been determined based on the increase in the tax payment for Montgomery County and for Montgomery County MUD 119A." We have never made that argument and I understand the difference is irrelevantLenderLive should have performed the escrow analysis either earlier in or they should have estimated the taxes based on comparable homes in the same neighborhoodThe updated Montgomery county tax information was available by May for our property and houseBut even if it had not been available, LenderLive could have estimated the taxes at the time we closed on the house using the public data availableSo in my opinion, there is no valid reason that LenderLive could not have better managed this escrow accountIt continues to show their lack of responsibility and accountability for the work in which they performAgain, if it's not required by law, they do not find it necessaryFurthermore, when the escrow shortage became known to them, they handed off the escrow servicing to another company to let them deal with the shortageRegardless of LenderLive's position, a $25,escrow shortage in a one year period is excessiveThis has been confirmed with the Texas Department of Savings and Mortgage Lending, the CFPB, an attorney, as well as LenderLive's own customer service representatives and the new servicing company [redacted] So it is undeniably excessiveWhat I find is such a problem is that my wife and I are two college educated professionals in our early 30's trying to do everything "by the book" to lead successful livesHowever, incompetent and unethical companies like LenderLive make our lives very difficult due to them simply not doing their jobNote that doing their job should be more than just "not breaking the law"Most families in our position would not be able to easily pay out an additional $25,to cover a shortageThe alternative is to be turned over to a collection agency and foreclosure of our homeThere is something wrong with thisCompanies like this should not be able to continue to do businessBusiness practices like these are what led to the mortgage crisisI will be following up with my state representative concerning this matter Sincerely, [redacted]
Initial Business Response / [redacted] (1000, 5, 2015/08/07) */ LenderLive Network Inc("LenderLive") received a letter on July 31st, from the Revdex.comWe understand from the letter that you have concerns regarding the servicing of this loanTo that end, we are providing you with the following: On May 15th, you indicated you were going to fax your recurring ACH form and voided check to usOn July 22nd, you indicated you were going to email copies of your recurring ACH form and voided checkTo date we have not received either communication and as such, have been unable to set up your recurring ACH paymentsPlease be sure you are using the fax # XXX-XXX-XXXX and the email address of [redacted] @lenderlive.com to send these documents to usWe do apologize for any inconvenience or frustration you may have experienced due to this matterWe will also provide a letter with this information sent directly to your attention
LenderLive is responding to the borrower by letter which captured the below.LenderLive stated on 02/02/the servicing of the borrower’s loan was transferred from the previous servicer to LenderLive and that his next contractual loan payment was due on 03/01/ On 02/10/a Notice of Servicing Transfer letter was sent to the property address, and not the borrower’s updated mailing address, which informed the borrower of the service transfer and provided the new servicer’s contact information (payment address and telephone number)On 03/10/2015, LenderLive received from the previous servicer the borrower’s 03/01/contractual loan payment; on 04/08/LenderLive received from the previous servicer the borrower’s 04/01/contractual loan payment; and both payments had been forwarded from the previous servicer as part of a bulk transferIn the months of May and June LenderLive made numerous attempts to contact the borrower regarding the contractual payments for these months as we had not yet received them by end of each monthOn 07/01/the borrower contacted LenderLive by telephone and informed our representative that he was in military service and had not received the documentation sent to the property addressDuring this conversation the borrower stated that he had been continuing to make his monthly mortgage payments to the previous servicer, and that he would mail the full amount due to bring his loan current On 07/27/funds were received which fully reinstated the borrower’s loan, and once the borrower’s loan was reinstated, LenderLive continued to receive the borrower’s contractual loan payments each month within the month owed, up to the date the servicing of the borrower’s loan was transferred to a new servicer on 04/02/Because of the borrower’s military deployment during the months the servicing of the borrower’s loan transferred from the previous servicer to LenderLive and because he was unaware of the transfer of servicing, LenderLive would submit a correction to the major credit reporting agencies for the 05/01/and 06/01/contractual loan payments requesting that they indicate these payments were “paid as agreed, never late.” LenderLive requested that the borrower allow up to days for the major credit reporting agencies to reflect the update
(The consumer indicated he/she DID NOT accept the response from the business.) This is outrageous. I was specifically told on the phone by more than one lenderlive representative that the investigation had been finalized and that LenderLive was in the process of correcting the credit report. According to this letter "LenderLive indicated that no credit corrections will be initiated at this time as the payments were reported accurately." I was never contacted and to this day have never been contacted by a lenderlive representative. I never received any correspondence from lenderlive. This not only impacts my credit by my ex-wife's credit who is the cosigner on this loan. She's in the process of trying to purchase her first home and this incident is preventing her form doing so. Regardless of lenderlives alleged attempts to contact either of us the fact is that they never made contact with either of us via phone or in writing. It took me noticing that my automated payments from my bank were not being cashed to realized that something was wrong, at which point I reached out to lenderlive and correct the problem immediately as they stated in their response. The payments were delinquent because lenderlive failed to make contact with either borrower. Furthermore it doesn't cost lenderlive anything to make these corrections to our credit reports considering that the purpose of a credit report is establish a persons level of responsibility in regards to paying back debts, of which I have demonstrated more responsibility and effort than the very company which services my loan and who is now directly affecting our credit score. Lenderlive did not send the letters certified mail to insure delivery. My current home mailing address is public record and lenderlive to not make an attempt to look it up before filing a notice against our credit. In other words lenderlive did not make all attempts to notify us of the matter. On 12/22/2015 I contacted lenderlive and spoke with a representative named [redacted] I asked to speak with a Supervisor and was told none were available. [redacted] took my number and told me that he would have one call me back. I told [redacted] I would hold as long as possible and I was told that was not an option. I've had three other representatives tell me the same thing and I've never received a call form anyone at lender-live. I would like to request all records be provided for this account concerning alleged notifications, phone records, recordings, account transactions, and account notes. You are drastically harming the lives of two people who have done nothing wrong and had no control over this situation. You are potentially costing one individual the opportunity to own their first home. Not to mention the countless other affects a poor credit score can have on someone's life.
LenderLive responded to the borrower by letter capturing the below. LenderLive’s records reflected that the borrower’s loan was transferred from her prior servicer to LenderLive on 10/2/2015, and that unfortunately, LenderLive’s tax vendor’s data was not updated resulting in the borrower’s property... taxes not being paid until 1/10/2016, which is prior to the county taxing authority’s due date. LenderLive stated that while the property tax payment information will not be reported on the borrower’s 2015 IRS Form 1098, it will be properly included on the borrower’s 2016 IRS Form 1098 and that going forward, LenderLive has been in contact with its property tax vendor to ensure that the borrower’s loan accurately reflects the borrower’s property tax election for the future. LenderLive stated that it valued the borrower as a customer, apologized for any inconvenience or frustration the borrower may have experienced in connection with LenderLive’s servicing of the borrower’s loan, and enclosed a gift card to compensate for any inconvenience.
We believe that the LenderLive mortgage servicing firm has sold our mortgage rather than admit their sloppy billing procedures, with no guarantee of being able to correct the billing issues with us By selling our loan out to [redacted] of Pittsburgh, they get rid of a complaining customer and hopefully rid the complaint off your records.Since we are no longer customers of LenderLive as of 2/1/as their letter to us states, we assume the complaint we submitted on them probably becomes a moot point If we have a choice, we would prefer that the complaint still stay on your records to warn other prospective customers, but we expect you will just delete it from your records as no longer applicable, unfortunate in our opinion
Initial Business Response / [redacted] */ We have reviewed the history on your loan and found the following: On April 17th, you contacted us to request a payoff quote to be sent to youThis payoff quote reflected a total amount due and included the escrow balance at that time On April 22nd, 2015, in keeping with our duties as your mortgage loan service, we disbursed funds from your escrow account to your insurance company for your homeowners insurance, as it was due to be paidThis transaction was not accounted for in the payoff quote sent on April 18th as it had not occurred at that time On May 14th, another payoff quote was requested through our automated system and faxed as requested on May 15th, This payoff quote reflected reflected a total amount due and included the escrow balance at that timeOn May 29th, a wire was received which was more than the required amount to pay your loan in full On June 10th, a refund check was sent to you which included your current escrow balance and the amount over paid when your payoff wire was received Our review does not show the amount you indicate would have been owed to youA copy of the payoff quotes along with a detailed letter has been mailed directly to your attention for your review In regards to your phone call with Lender Live on June 22nd, 2015, we truly apologize for any frustration or distress you may have experiencedWe have reviewed your phone call and addressed any concerns with the representative
Initial Business Response / [redacted] (1000, 6, 2015/11/23) */ LenderLive apologized for any inconvenience or frustration the borrowers may have experienced in connection with LenderLive's loss draft process in connection with the repairs made to the roof of their home. LenderLive has reviewed its... records and provided the following information: On September 9, 2015, LenderLive received the initial request from the borrowers to obtain a loss draft information packet. On September 14, 2015, LenderLive sent via U.S. Mail the loss draft packet to the borrowers with instructions to complete and return to LenderLive. On September 16, 2015, LenderLive received a telephone call from the borrowers inquiring as to the status of the loss draft packet and informed our representative that they had not received the loss draft packet. Our representative informed the borrowers that we could also send the loss draft packet via e-mail, and that we would open a supervisor notification to process the request. On September 17, 2015, LenderLive received a telephone call from the borrowers in which they stated they had not received the loss draft package. Our representative informed the borrowers that it could take up to 48 hours to receive the loss draft packet. During the telephone conference with the borrowers, the borrowers advised LenderLive that the contractor who was repairing the roof had requested 50% of the loss draft funds be paid up front in order to complete the work on the roof. Further, on September 17, 2015, a LenderLive manager spoke with the borrowers informing them that in order to release funds, LenderLive required that all loss draft documents needed to be completed and sent to LenderLive. The borrowers at that time stated they would send in the documents. On September 18, 2015, LenderLive received all of the completed loss draft documents from the borrowers. On September 25, 2015, LenderLive received loss draft proceeds in the amount of $11,059.72. On September 29, 2015, LenderLive disbursed $3,686.62 from the loss draft proceeds. On October 5, 2015, LenderLive disbursed $1,843.32 from the loss draft proceeds. The disbursements made on September 29, 2015 and October 5, 2015, totaled $5,529.94, which is 50% of the total loss draft claim and the amount the borrowers requested to begin the repairs to their roof. On November 17, 2015, LenderLive disbursed $876.14 from the loss draft proceeds, bringing the amount of loss draft funds disbursed to the borrowers at 66% of the total loss draft claim. Additionally, by letter dated November 17, 2015, LenderLive provided to the borrowers with the Statement of Completion form and informed the borrowers that receipt of this completed form by LenderLive was required before LenderLive could send the remaining loss draft proceeds to the borrowers. LenderLive stated that it desired to assist the borrowers so that they could receive the remaining loss draft proceeds; however, as of the date of this response, LenderLive has not received the completed and signed Statement of Completion form from the borrowers. LenderLive requested that the borrowers return the completed and signed Statement of Completion form at their earliest convenience in order for LenderLive to disburse the remaining loss draft proceeds to the borrowers. LenderLive also informed the borrowers that we value them as a customer and appreciated their feedback as we want to meet the borrowers' expectations in connection with the servicing of their loan. A letter capturing the above events was sent to the borrowers along with another Statement of Completion form. Initial Consumer Rebuttal / [redacted] (3000, 8, 2015/11/24) */ (The consumer indicated he/she DID NOT accept the response from the business.) My sequence of events is exactly what has transpired. I have the phone records and all the emails to back this up. What's more disturbing is that this company has yet to contact me. I made it clear that the contractor wanted to be paid 50% of the total job not the check that was sent. I made that very clear more than a few times. I have not received a check for $876.14 and I have no idea why in the world they would send me $876.14 in the first place. The job was completed on Oct 23rd 2015, That's 4 weeks ago and finally Inspected on November 12. They should have paid the total amount of $5,530.00 that they are still holding. Why are they still keeping this money knowing that the job is complete? I sent the statement of completion document on October 23rd 2015.(attached)on November 11 an inspector named [redacted] called to schedule an inspection but he had no idea whatsoever what he was to inspect. I had to tell him. He came on Friday November 12th and I signed that Statement of Completion document for a second time along with some other documents stating he was there and I was satisfied with the work completed. I have made several phone calls to lender Live and ended up getting the call interruption while on hold stating , "to keep your place on line and have a representative contact you later please leave your number. I've done that too many times to count and no one has ever called me back. Finally on Thursday 11/19/2015 I got through and spoke to [redacted] . After explaining this situation to her and pointedly told her how upset I was, she hung up on me! I called back a few minutes later and she answered again and said she didn't mean to hang up on me which I do not believe for one minute. After she took all my information down she looked at my account and stated that a check for $84,500.00 was overnighted to me and I should receive it that day. I told her that I wasn't looking for anywhere close to that amount and asked if she was sure she was looking at the right account and she read my name and address to me and stated that the inspection was complete and how great the pictures looked and then said yes, I'm looking at your account. When I told her that amount was not right she asked, "well how much are you looking for"? I told her, "are you kidding me? You should know this! You are my Mortgage Servicing Company aren't you! After sitting on the phone for five more minutes listening to her type in the background I told her that I had to go to work and to call me back when they figured it out. She said she would, I knew that call would never come and as of today November 24 at 1:45PM I have not heard a word from this company nor have they NEVER called me. They need to pay the contractor that's it. How hard can this possibly be? If they indeed did cut me a check for $876.14 on November 17th why didn't [redacted] see this when we spoke two days later on November 19th? Why didn't Lender Live release all the funds for the job when the inspection was completed and documented on November 12th? Final Business Response / [redacted] (4000, 10, 2015/12/04) */ LenderLive stated that it empathized with the inconvenience the borrowers experienced in connection with the loss of the roof of their home and that LenderLive understands the borrowers' frustration with the processing of their insurance claim. The disbursements referenced in LenderLive's letter dated 11/23/2015 were made pursuant to LenderLive's Loss Draft Policy of issuing one-third of the loss draft funds upon LenderLive's receipt of all completed loss draft documents; issuing an additional one-third of the loss draft funds at the time the repairs are determined to be 66% complete; and issuance of a final draw of the loss draft funds at the time an inspection has been completed evidencing that 90% of the repairs have been completed and LenderLive has been furnished with a completed and signed Statement of Completion form. LenderLive enclosed a copy of the loss draft packet which was sent to the borrowers with LenderLive's letter dated 9/14/2015, and requested that the borrowers review Pages 2 and 3 stating LenderLive's procedures for insurance losses over $10,000. LenderLive also apologized for the misinformation the borrowers were provided when LenderLive's representative misinformed them that a check representing a different amount was being sent to them. LenderLive stated that its records reflected that on 11/30/2015 LenderLive received the completed and signed Statement of Completion via electronic communication from the borrowers and that on 12/1/2015 the remaining loss proceeds were sent to them with an estimated delivery date of 12/3/2015. LenderLive also informed the borrowers that it stopped payment of the loss draft check sent to the borrowers via U.S. Mail on 11/18/2015. LenderLive stated that the amount of the loss draft check was derived by multiplying the remaining loss draft claim by 16% after the disbursements which were made on 9/29/2015 and 10/5/2015, respectively, as the repairs had been determined to be 66% complete. On 12/3/2015 LenderLive issued a replacement loss draft check which is estimated to be delivered on 12/7/2015. LenderLive also stated that it valued the borrowers as customers and that LenderLive is devoted to embracing a customer centric philosophy as we want to build successful relationships with our customers. A letter capturing the above was sent to the borrowers along with a copy of LenderLive's 9/14/2015 letter with insurance loss procedures. Final Consumer Response / [redacted] (2000, 12, 2015/12/07) */ (The consumer indicated he/she ACCEPTED the response from the business.)
Initial Business Response / [redacted] (1000, 6, 2015/08/21) */ LenderLive has reviewed your loan and has determined the following: On [redacted] LenderLive remitted a payment to the City for the payment of the City Tax LenderLive discovered that the City Tax paid to the City had been paid by your previous servicer on or about [redacted] On [redacted] LenderLive filed a Refund Petition with the City's Department of Revenue, requesting a refund On [redacted] LenderLive received the refund from the City's Department of Revenue and placed these funds back in your escrow account LenderLive conducted an escrow analysis of your loan, and a copy of the escrow analysis, with your new payment amount, will be sent directly to you for your review Additionally, LenderLive has determined that a credit correction is warrantedLenderLive has submitted a credit correction update to the major credit reporting agencies instructing them to report that the [redacted] loan payment was remitted timelyPlease note that updating your credit bureau records may take up to daysUnfortunately, LenderLive has no control over the credit bureau updating process Please accept LenderLive's apology for any inconvenience or frustration you may have experienced in connection with the servicing of your loan
Initial Business Response / [redacted] (1000, 6, 2015/10/06) */ LenderLive's records reflect that the borrowers contacted us via electronic communication on August 27, and on September 9, 2015, and requested that the PMI be cancelled LenderLive has reviewed the borrowers' loan and determined that the borrowers met the criteria required for the cancellation of the PMI connected to their mortgage loanBy letter dated September 30, 2015, LenderLive notified the borrowers that they were no longer required to carry PMIA refund for the unearned PMI premium will be sent to the borrowers within daysThe September 30, 2015, letter also informed the borrowers that that effective October 1, 2015, their contractual loan payment would consist of principal, interest, property taxes and hazard insurance, and that after an escrow analysis was conducted, they would receive a check representing a surplus from their escrow account For the borrowers' convenience, we have sent a letter capturing the events listed aboveLenderLive apologized to the borrowers because they were required to contact us on several occasions requesting the cancellation of the PMILenderLive takes such issues seriously and endeavors to address and respond to all customer inquiries within an acceptable response timeLenderLive is devoted to embracing a customer centric philosophy as we want to build successful relationships with our customers
LenderLive is responding to the borrower by letter which captured the below.LenderLive apologized to the borrower for any inconvenience or frustration she may have experienced in connection with the refund of excess payoff funds for her loan. LenderLive stated that on 03/30/it received
loan payoff funds; that after application of the lien release, LenderLive determined there were excess funds; and that LenderLive’s policy requires a day hold on all excess funds remitted to allow time for any outstanding invoices associated with the loan to be remitted. LenderLive stated that on 04/13/a check for excess funds was issued and on 04/14/the check was mailed to the borrower. LenderLive stated that on 05/18/the borrower contacted LenderLive informing us that the borrower had not received the refund check; that on 05/27/LenderLive stopped payment on the check and attempted to send the refund proceeds to the borrower via wire; however, we did not have the correct wire information for the borrower’s bank. LenderLive stated that on 06/02/the borrower contacted LenderLive informing us that she had not received the refund check nor confirmation of wired funds from her bank; she requested that LenderLive remit the refund proceeds to her via check, confirmed her mailing address; however, LenderLive’s representative incorrectly informed her that a check was issued, was overnighted to her and that she would receive the check by the end of the week. On 06/20/LenderLive attempted to wire the refund proceeds to the borrower; however, those funds were returned to LenderLive as the bank routing information provided was for an ACH transaction and not for a wire transaction. On 06/21/LenderLive reissued a wire for the refund proceeds with the correct routing information and it is LenderLive’s understanding that the borrower has received the refund proceeds
LenderLive sent a letter to the borrower capturing the events listed below
On December 23, 2015, LenderLive Network LLC (LenderLive) received notification from the Revdex.com (Revdex.com) that you had filed rebuttal to response in connection with a complaint with respect to the above referenced loan
LenderLive's records reflect that the servicing of your loan was transferred from the prior servicer to LenderLive effective February 2, LenderLive notified you of the servicing transfer by letter on February 10, This notice, as well as all subsequent written communications from February through June 2015, were sent to the mailing address that LenderLive received from your prior servicer
On February 23, 2015, you contacted LenderLive to inquire as to your loan balance and the amount of your monthly contractual loan payment
LenderLive's records reflect that the prior servicer forwarded to us the contractual loan payments paid to them directly for the months of February, March and April, 2015, and LenderLive applied these payments to your loan
However, LenderLive did not receive the May 1, contractual loan payment, so telephone calls were made in an attempt to contact you on the following dates:
May 19,
May 26,
May 27,
June 4,
June 5,
June 9,
June 10,
LenderLive also sent you written communication regarding the loan status for both the May and June paymentsOur records reflect that we sent letters to you about your loan status on May 22, 2015, and May 26, Further, on June 2, 2015, we sent a loss mitigation solicitation letter to you, and on June 10, 2015, we sent the required Service Members Civil Relief Act (SCRA) letterPlease note that these communications are not sent via certified mail as industry practice is to send these letters through standard mail
Our records reflect that on June 24, 2015, you contacted LenderLive by telephone stating that the May 1, contractual payment had been sent to the prior servicer; that the June 1, contractual loan payment had been sent to LenderLiveHowever, LenderLive did not have record of receipt of either of these paymentsFurther, you provided a new address send all communicationsTherefore, all subsequent communications have been and are being sent to this address
The payments received for the May 1, and June 1, contractual loan payments were more than days past due which LenderLive reported to the major credit bureausYou have indicated that you have remitted the May 1, contractual loan payment on time to the prior servicer, and that the June 1, contractual loan payment was remitted via check to LenderLive on timeHowever, LenderLive did not receive the check representing the June 1, contractual loan paymentLenderLive respectfully requests that you submit evidence to us confirming that the May 1, and June 1, contractual loan payments were remitted timelyAfter review of our records we have not received any indication these mortgage payments were paid as agreed in the months they were owedThis evidence of payments can be in the form of an unedited bank statement that confirms these monies were withdrawn from your bank account in the months they were owed
Our records further reflect you made a payment on July 7, to bring the loan current and satisfy the contractual loan payments due for May 1, 2015, June 1, and July 1, A payment history from February through the end of July has been sent to your attentionHowever, LenderLive will not provide servicing notes at this time as they are proprietary information
Without evidence that the May 1, payment to the prior servicer, and June 1, payment to LenderLive were made timely, LenderLive cannot make any corrections to the credit reportingLenderLive is required to report the payments accurately to the Credit Reporting Bureaus as they are received per the Fair Credit Reporting Act (FCRA)
LenderLive responded to the borrower by letter capturing the belowLenderLive requested that the borrower note that in our recent letters to her and her former spouse, we requested that they provide evidence to us confirming that the 5/1/and 6/1/contractual loan payments were remitted timelyLenderLive informed the borrower that on 1/11/we received documentation from the borrower’s former spouse concerning the contractual loan payments for 5/1/2015, 6/1/and 7/1/which was a screenshot of the bank account that reflected “scheduled transactions.” The screenshot provided also showed that the funds were scheduled to be sent to the investor of the borrowers’ loanAs a courtesy to the borrowers in order to provide positive customer service, LenderLive has sent a comment to the major credit bureaus that the payments for 5/1/2015, 6/1/and 7/1/were paid as agreed and never late. LenderLive further stated that the borrower should allow days for the credit bureaus to reflect the comment and update
LenderLive responded to the borrower by a letter which will be sent to the borrower which captures the belowLenderLive stated that as stated in its response dated 03/24/2016, the servicing of the borrower’s loan was transferred to a new servicer with an effective date of 02/01/2016; that the Notice of Servicing Transfer dated 01/15/was sent by the new servicer to the borrower at least days prior to the servicing transfer notifying the borrower that LenderLive would cease servicing the borrower’s loan and that the new servicer would begin servicing the borrower’s loan with an effective date of 02/01/2016. LenderLive provided another copy of the Notice of Servicing Transfer to the borrowerLenderLive stated that when a service transfer occurs, there is a day period where no late charges are assessed and nothing is reported to the credit bureaus in order to allow the new servicer sufficient time to fully load the loan to their system as well as receive and apply any payments remitted from the transferring servicerLenderLive stated that this period protects the borrower from potential erroneous information being reported and provides the new servicer time to process the multitude of payments being received via check, wire and ACH. LenderLive stated that it believes that the turn time from receipt of the borrower’s payments for the months of February and March for the transmission of those payments to the new servicer, and the application by the new servicer to the borrower’s loan is not unreasonable nor outside the industry standardLenderLive reiterated that as stated in its response dated 03/24/2016, on the date the servicing of the borrower’s loan was transferred, the 02/01/contractual loan payment was due, and that LenderLive’s records do not indicate that we submitted any negative comments to the major credit reporting agencies. Further, our records reflect that the borrower’s loan was not assessed any additional interest as the borrower remitted the borrower’s contractual loan payments timely to LenderLive. LenderLive stated that it reported to the major credit reporting agencies that the borrower’s loan was current and paid as agreed
LenderLive is responding to the borrower by letter which captured the belowLenderLive provided the borrower with a chronology of events regarding the information as to the process for the removal of PMI from the borrower’s loanLenderLive stated that after reviewing the telephone conversations
with the borrower, LenderLive was unable to locate any call where a LenderLive representative informed the borrower that the PMI would be removed or the mortgage insurance premiums would be refunded. LenderLive stated that as reflected above, on 02/04/LenderLive informed the borrower that we had not received the appraisal for the property, and that due to the fact that the review process had not been fully completed prior to the transfer of the servicing of the borrower’s loan, LenderLive was unable to offer a refund of the mortgage insurance premiums paid to the PMI companyLenderLive stated that it had forwarded to the new servicer all documents receipt with respect to the borrower’s PMI removal request so that the new servicer could complete the review of the borrower’s PMI removal request
LenderLive responded to the borrower by letter capturing the below
LenderLive stated it valued the borrower as a customer and appreciated his feedback
LenderLive stated that it had researched the issues the borrower raised in his complaint and found that unfortunately the loan number indicated
on the 02/loan payment the borrower remitted was not a LenderLive loan numberLenderLive stated that after researching, LenderLive was able to locate the borrower’s account and credited his 02/01/contractual loan payment to his loan with an effective date of 02/03/
LenderLive also stated that as of the date of the letter, the borrower’s loan was current and that his next contractual loan payment would be due 04/01/
LenderLive stated that pursuant to RESPA, there is a 60-day grace period in connection with the transfer of servicing of mortgage loans in which the borrower could not be charged a late fee and no reporting made to the major credit reporting agencies that payments were late. LenderLive indicated that at such time as LenderLive may begin credit reporting, LenderLive would indicate that the borrower’s 02/01/contractual loan payment was paid as agreed
LenderLive responded to the borrower by letter capturing the belowLenderLive stated that the borrower should submit the “Certificate of Service of Statement of Intention” which she believes is a “reaffirmation to pay” to LenderLive Network LLC, Attention: *** ***, *** *** *** *** *** *** *** *** LenderLive stated that in response to the borrower’s request for a loan modification, by letter dated 9/23/LenderLive denied the borrower’s loan modification request as LenderLive’s review of the borrower’s financial and other information indicated that she had sufficient financial ability to make her current loan payments. LenderLive also stated that the presence of a discharged bankruptcy was not a factor which was included in LenderLive’s decision to deny the borrower’s modification requestLenderLive stated that it valued the borrower as a customer and apologized for any inconvenience or frustration the borrower may have experienced in connection with the servicing of her loan
Initial Business Response /* (1000, 9, 2015/10/12) */
On September 30, 2015, LenderLive Network Inc(LenderLive) received the borrower's electronic communication regarding his loan and requesting that LenderLive stop contacting the borrower by telephoneAlso on September 30, 2015, LenderLive
received notification from the Revdex.com that the borrower had filed a similar complaint concerning telephone calls made to the borrower and the servicing of the borrower's loanSubsequently, on October 6, 2015, LenderLive received the borrower's letter dated September 30, 2015, stating that the borrower had received no communications from LenderLive with respect to the borrower's loan; requesting that LenderLive cease contacting the borrower by telephone; and informing LenderLive that the borrower believed he had met his commitment with respect to his loan
LenderLive is in the process of completing its research of the borrower's communications as we want to make certain that the information and any documentation we provide to the borrower is accurateWe anticipate providing the borrower with a complete response within the next five (5) business days
Initial Consumer Rebuttal /* (4200, 14, 2015/10/23) */
(The consumer indicated he/she DID NOT accept the response from the business.)
First of all, my september payment, according to the bill on line and finally received in October, stated my payment was due on 10/No penalty for late fee, no mention it was late
I even called Lender live directly and the agent even stated my september payment was due on 10/Why, because you purchased the loan from another bank and your agent appologised for being late and not receiving any informationThey corrected the address and now I get letters, finally, but that started in late september
As to my electronic paymentI entered the information correctly, use the same account I always useyour system kicked me out many times while trying to pay, and still doesIt takes attempts to make any payment and many times kicks you out while you are checking account status
I entered the information correctly in your system, its obvious your system has issues, its on line everywhere!!!I checked with the bank and there were adequate funds and I checked the account on line prior to the payment
Now, to make matters worse, I did not receive any notification that the check was returned, for whatever reasonThe agent informed me a week after trying to make payment and I received the information that the bank rejected the transfer at the end of September
I checked on my account, entered exactly the same information and took screen shotsThis time it went through
I then set up autopay from then on as I normally do with everything else I do with my house
I could not even enter anything for autopay until the previous payment had clearedSo could not even enter the information until after 10/for autopay
Again, used the same account
I am not paying a $return fee when it is your system and was never late in the first place
I do not receive phone calls now, thank you finally for that, and now receive my bills via mailThis did not start until the 21st of september
I will not accept this answer, again your system has many issues and I am not going to be penalized for a problem with your system
You purchased my loan from a bank I wanted to do business with and was very good at communicatingUnfortunately, its clear your company has many issues with your systems and will not even consider that in your answer
Take a look at *** many people have the same issue I have experiencedI know Im not alone
Credit the $to my account, as your agent indicated actually
***
Final Business Response /* (4000, 17, 2015/11/06) */
LenderLive Network Inc(LenderLive) received the borrower's rebuttal complaint regarding the servicing of his loan
In the spirit of good customer service, LenderLive has waived the returned item chargeThere are no outstanding fees owed by the borrower
LenderLive made another review of its records in connection with the registration of the borrower's account on its website and found that the borrower successfully registered his accountLenderLive's records also reflected that the borrower was able to log in to the LenderLive website
LenderLive understands the challenges the borrower may have encountered accessing its website, and stated that if the borrower encounters difficulties accessing its website in the future, a LenderLive representative would be happy to assist the borrower and provided a toll free number for the borrower to call for future assistance
LenderLive sent a letter capturing the events listed above, and stated that LenderLive values the borrower and appreciates his feedback as LenderLive wants to meet the borrower's expectations in connection with the servicing of his loan
I have requested another company handle my mortgage, and will not be satisfied until it is I was very disappointed in this company due to the lack of any kind of understanding or grace period after notifying them of the lack of notification of an increased mortgage Especially again as this raises it more than what I reported that I can affordAlmost $dollars is huge to me I definitely would have been on the phone had I been aware of the increase I have other obligations that I will not report on this page with some huge life changing occurrences that I needed to build up my credit and get everything back in good standing so I could move on and get back on my feet I have since found out I have not received some other bills or notifications, and as I am in good standing with those companies, meaning all of my bills are paid on time and in full they were more than happy to work with me so we can fix the situation which will require extra days for one and three for another Nothing was offered by lender live other than ruining my credit I have worked so hard to get back in good standing Someone else called me today while I was in meetings at work with a message that did not give a clear name as the message was garbled in the beginning After I got out of work which I have to do in order to be able to pay the bills, and twice in between meetings I tried to call this number A total of five times in allIt just kept going to voicemail No one called me back the first time until the Revdex.com was involved Poor customer service especially as all of my payments were made in full to the best of my knowledge Also the amount in question that started this whole thing the $was not reported as being recieved and the check has cleared through my bank, and thus clearly states that I was short for the month on January Very disappointed in this company as a result on a whole again I never want to work with this company again ever Something needs to be fixed before February
Lenderlive responded to the borrower by letter dated 12-24-capturing the below Lenderlive advised the borrower that various payment options are availableLenderlive offers payment via Automatic Clearing House (ACH) that would draft one time each month from the borrower's bank account Lenderlive also offers its customers the option to make a loan payment online at the investor's websiteIf this option is exercised, the borrower's loan payment will post the same business day if initiated prior to 3:p.m(MST) Lenderlive's records reflect receipt of a facsimile letter dated 10/26/and a facsimile letter dated 11/02/2015, both from a legal representative of the borrowersDue to the fact that Lenderlive did not receive third party authorization to respond directly to the law office's communications, Lenderlive sent a letter dated 12/04/to the borrower in response to this communication, in which the response letter was attached to Lenderlive's Revdex.com response letter In regards to the first issue, the borrower expressed concern that although the borrower scheduled a payment on 10/23/2015, the payment was not applied to the loan on the same dayLenderlive records reflect that the borrower's October contractual loan payment was received by Lenderlive on 10/28/from the borrower's financial institution and there were no credit implications In regards to the second issue, the borrower also expressed concern that although the borrower scheduled a payment on 09/25/2015, the payment was not applied to the loan on the same dayLenderlive's records reflect that the borrower's September contractual loan payment was received by Lenderlive on 09/25/from the borrower's financial institutionHowever, the funds received were returned from the borrower's bank as non-sufficient on 09/30/Therefore, Lenderlive reversed the payment received Lenderlive's records reflect that on 10/02/2015, we received another draft from the borrower's financial institutionLenderlive correctly posted receipt of the borrower's September contractual loan payment on 10/02/to the borrower's account, and correctly reported that the payment receipt date was outside of the 30-day payment period to the major credit bureaus In regards to the third issue, the borrower expressed concern that a scheduled payment on 06/30/was not applied to the borrower's loan the same dayLenderlive's records reflect that the scheduled payment on 06/30/was submitted at 11:p.m(MST)Lenderlive expressed that if the payment is scheduled prior to 3:p.m(MST), the loan payment will post the same business dayLenderlive's records further reflect that the June contractual loan payment was received by Lenderlive on 07/01/from the borrower's financial institutionLenderlive correctly posted the payment as received on 07/01/and correctly reported that the payment receipt date was outside of the 30-day payment period to the major credit bureaus In regards to the fourth issue, in response to the borrower's statement regarding a payment scheduled on 05/31/(which was a Sunday); Lenderlive's records reflect that the May contractual loan payment was received by Lenderlive on 06/01/(the next business day, which was a Monday) from the borrower's financial institutionHowever, the funds received were returned from the borrower's bank as non-sufficient on 06/04/Therefore, Lenderlive reversed the payment receivedLenderlive's records reflect that on 06/19/2015, Lenderlive received another draft from the borrower's financial institutionLenderlive correctly posted receipt of the May contractual loan payment on 06/19/and correctly reported that the payment receipt date was outside of the 30-day payment period to the major credit bureaus At this time, Lenderlive will not make any credit corrections as the payments were reported accurately to the bureaus as they were received Lenderlive is required to report the payments accurately to the Credit Reporting Bureaus as they are received per the Fair Credit Reporting Act (FCRA)
Complaint: [redacted] I am rejecting this response because:LenderLive continues to restate the same position with each responseI do not accept it as it shows that LenderLive does not have interest in the clients in which they serveLenderLive's position is to only do the bare minimum required by law and nothing moreUnfortunately, the mortgage industry has little oversight or consequences as was seen in during the mortgage crisisAnd companies like LenderLive continue to operate to the absolute minimum of their abilities simply because they canThey do not take into consideration what it right, ethical, or in the best interest of their clientsTheir claim that the escrow analysis was completed "timely and efficiently" is simply not trueIt was the minimum requirement by law, but it was not timely and efficientIf that was the case, there would not be such an excessive shortage.I requested a comparison of my 1-yr escrow shortage to their 1-yr average escrow shortage as a baseline for what is considered excessiveLenderLive responded that "there is no average shortage report that is created or run that LenderLive can provide"I did not ask for a reportI asked for a simple comparison of the average to my escrow shortage created by LenderLiveIf LenderLive does not track, understand, or have access the shortage amounts for all the escrow accounts in which they service, then how are they operating and keeping track of shortage payments? This again seems like negligence and mismangementI understand that escrow analysis is unique to each person's parcel of land and property taxes, but an average of escrow shortages should be easy to calculateI am sure that LenderLive has the data necessary to do soBut again, they choose not to because it's not required by law.I also do not understand why LenderLive continues to state that, "regardless of whether or the escrow analysis for the borrowers' loan was run in February or December, a significant shortage would have been determined based on the increase in the tax payment for Montgomery County and for Montgomery County MUD 119A." We have never made that argument and I understand the difference is irrelevantLenderLive should have performed the escrow analysis either earlier in or they should have estimated the taxes based on comparable homes in the same neighborhoodThe updated Montgomery county tax information was available by May for our property and houseBut even if it had not been available, LenderLive could have estimated the taxes at the time we closed on the house using the public data availableSo in my opinion, there is no valid reason that LenderLive could not have better managed this escrow accountIt continues to show their lack of responsibility and accountability for the work in which they performAgain, if it's not required by law, they do not find it necessaryFurthermore, when the escrow shortage became known to them, they handed off the escrow servicing to another company to let them deal with the shortageRegardless of LenderLive's position, a $25,escrow shortage in a one year period is excessiveThis has been confirmed with the Texas Department of Savings and Mortgage Lending, the CFPB, an attorney, as well as LenderLive's own customer service representatives and the new servicing company [redacted] So it is undeniably excessiveWhat I find is such a problem is that my wife and I are two college educated professionals in our early 30's trying to do everything "by the book" to lead successful livesHowever, incompetent and unethical companies like LenderLive make our lives very difficult due to them simply not doing their jobNote that doing their job should be more than just "not breaking the law"Most families in our position would not be able to easily pay out an additional $25,to cover a shortageThe alternative is to be turned over to a collection agency and foreclosure of our homeThere is something wrong with thisCompanies like this should not be able to continue to do businessBusiness practices like these are what led to the mortgage crisisI will be following up with my state representative concerning this matter Sincerely, [redacted]
Initial Business Response / [redacted] (1000, 5, 2015/08/07) */ LenderLive Network Inc("LenderLive") received a letter on July 31st, from the Revdex.comWe understand from the letter that you have concerns regarding the servicing of this loanTo that end, we are providing you with the following: On May 15th, you indicated you were going to fax your recurring ACH form and voided check to usOn July 22nd, you indicated you were going to email copies of your recurring ACH form and voided checkTo date we have not received either communication and as such, have been unable to set up your recurring ACH paymentsPlease be sure you are using the fax # XXX-XXX-XXXX and the email address of [redacted] @lenderlive.com to send these documents to usWe do apologize for any inconvenience or frustration you may have experienced due to this matterWe will also provide a letter with this information sent directly to your attention
LenderLive is responding to the borrower by letter which captured the below.LenderLive stated on 02/02/the servicing of the borrower’s loan was transferred from the previous servicer to LenderLive and that his next contractual loan payment was due on 03/01/ On 02/10/a Notice of Servicing Transfer letter was sent to the property address, and not the borrower’s updated mailing address, which informed the borrower of the service transfer and provided the new servicer’s contact information (payment address and telephone number)On 03/10/2015, LenderLive received from the previous servicer the borrower’s 03/01/contractual loan payment; on 04/08/LenderLive received from the previous servicer the borrower’s 04/01/contractual loan payment; and both payments had been forwarded from the previous servicer as part of a bulk transferIn the months of May and June LenderLive made numerous attempts to contact the borrower regarding the contractual payments for these months as we had not yet received them by end of each monthOn 07/01/the borrower contacted LenderLive by telephone and informed our representative that he was in military service and had not received the documentation sent to the property addressDuring this conversation the borrower stated that he had been continuing to make his monthly mortgage payments to the previous servicer, and that he would mail the full amount due to bring his loan current On 07/27/funds were received which fully reinstated the borrower’s loan, and once the borrower’s loan was reinstated, LenderLive continued to receive the borrower’s contractual loan payments each month within the month owed, up to the date the servicing of the borrower’s loan was transferred to a new servicer on 04/02/Because of the borrower’s military deployment during the months the servicing of the borrower’s loan transferred from the previous servicer to LenderLive and because he was unaware of the transfer of servicing, LenderLive would submit a correction to the major credit reporting agencies for the 05/01/and 06/01/contractual loan payments requesting that they indicate these payments were “paid as agreed, never late.” LenderLive requested that the borrower allow up to days for the major credit reporting agencies to reflect the update
(The consumer indicated he/she DID NOT accept the response from the business.) This is outrageous. I was specifically told on the phone by more than one lenderlive representative that the investigation had been finalized and that LenderLive was in the process of correcting the credit report. According to this letter "LenderLive indicated that no credit corrections will be initiated at this time as the payments were reported accurately." I was never contacted and to this day have never been contacted by a lenderlive representative. I never received any correspondence from lenderlive. This not only impacts my credit by my ex-wife's credit who is the cosigner on this loan. She's in the process of trying to purchase her first home and this incident is preventing her form doing so. Regardless of lenderlives alleged attempts to contact either of us the fact is that they never made contact with either of us via phone or in writing. It took me noticing that my automated payments from my bank were not being cashed to realized that something was wrong, at which point I reached out to lenderlive and correct the problem immediately as they stated in their response. The payments were delinquent because lenderlive failed to make contact with either borrower. Furthermore it doesn't cost lenderlive anything to make these corrections to our credit reports considering that the purpose of a credit report is establish a persons level of responsibility in regards to paying back debts, of which I have demonstrated more responsibility and effort than the very company which services my loan and who is now directly affecting our credit score. Lenderlive did not send the letters certified mail to insure delivery. My current home mailing address is public record and lenderlive to not make an attempt to look it up before filing a notice against our credit. In other words lenderlive did not make all attempts to notify us of the matter. On 12/22/2015 I contacted lenderlive and spoke with a representative named [redacted] I asked to speak with a Supervisor and was told none were available. [redacted] took my number and told me that he would have one call me back. I told [redacted] I would hold as long as possible and I was told that was not an option. I've had three other representatives tell me the same thing and I've never received a call form anyone at lender-live. I would like to request all records be provided for this account concerning alleged notifications, phone records, recordings, account transactions, and account notes. You are drastically harming the lives of two people who have done nothing wrong and had no control over this situation. You are potentially costing one individual the opportunity to own their first home. Not to mention the countless other affects a poor credit score can have on someone's life.
LenderLive responded to the borrower by letter capturing the below. LenderLive’s records reflected that the borrower’s loan was transferred from her prior servicer to LenderLive on 10/2/2015, and that unfortunately, LenderLive’s tax vendor’s data was not updated resulting in the borrower’s property... taxes not being paid until 1/10/2016, which is prior to the county taxing authority’s due date. LenderLive stated that while the property tax payment information will not be reported on the borrower’s 2015 IRS Form 1098, it will be properly included on the borrower’s 2016 IRS Form 1098 and that going forward, LenderLive has been in contact with its property tax vendor to ensure that the borrower’s loan accurately reflects the borrower’s property tax election for the future. LenderLive stated that it valued the borrower as a customer, apologized for any inconvenience or frustration the borrower may have experienced in connection with LenderLive’s servicing of the borrower’s loan, and enclosed a gift card to compensate for any inconvenience.
We believe that the LenderLive mortgage servicing firm has sold our mortgage rather than admit their sloppy billing procedures, with no guarantee of being able to correct the billing issues with us By selling our loan out to [redacted] of Pittsburgh, they get rid of a complaining customer and hopefully rid the complaint off your records.Since we are no longer customers of LenderLive as of 2/1/as their letter to us states, we assume the complaint we submitted on them probably becomes a moot point If we have a choice, we would prefer that the complaint still stay on your records to warn other prospective customers, but we expect you will just delete it from your records as no longer applicable, unfortunate in our opinion
Initial Business Response / [redacted] */ We have reviewed the history on your loan and found the following: On April 17th, you contacted us to request a payoff quote to be sent to youThis payoff quote reflected a total amount due and included the escrow balance at that time On April 22nd, 2015, in keeping with our duties as your mortgage loan service, we disbursed funds from your escrow account to your insurance company for your homeowners insurance, as it was due to be paidThis transaction was not accounted for in the payoff quote sent on April 18th as it had not occurred at that time On May 14th, another payoff quote was requested through our automated system and faxed as requested on May 15th, This payoff quote reflected reflected a total amount due and included the escrow balance at that timeOn May 29th, a wire was received which was more than the required amount to pay your loan in full On June 10th, a refund check was sent to you which included your current escrow balance and the amount over paid when your payoff wire was received Our review does not show the amount you indicate would have been owed to youA copy of the payoff quotes along with a detailed letter has been mailed directly to your attention for your review In regards to your phone call with Lender Live on June 22nd, 2015, we truly apologize for any frustration or distress you may have experiencedWe have reviewed your phone call and addressed any concerns with the representative
Initial Business Response / [redacted] (1000, 6, 2015/11/23) */ LenderLive apologized for any inconvenience or frustration the borrowers may have experienced in connection with LenderLive's loss draft process in connection with the repairs made to the roof of their home. LenderLive has reviewed its... records and provided the following information: On September 9, 2015, LenderLive received the initial request from the borrowers to obtain a loss draft information packet. On September 14, 2015, LenderLive sent via U.S. Mail the loss draft packet to the borrowers with instructions to complete and return to LenderLive. On September 16, 2015, LenderLive received a telephone call from the borrowers inquiring as to the status of the loss draft packet and informed our representative that they had not received the loss draft packet. Our representative informed the borrowers that we could also send the loss draft packet via e-mail, and that we would open a supervisor notification to process the request. On September 17, 2015, LenderLive received a telephone call from the borrowers in which they stated they had not received the loss draft package. Our representative informed the borrowers that it could take up to 48 hours to receive the loss draft packet. During the telephone conference with the borrowers, the borrowers advised LenderLive that the contractor who was repairing the roof had requested 50% of the loss draft funds be paid up front in order to complete the work on the roof. Further, on September 17, 2015, a LenderLive manager spoke with the borrowers informing them that in order to release funds, LenderLive required that all loss draft documents needed to be completed and sent to LenderLive. The borrowers at that time stated they would send in the documents. On September 18, 2015, LenderLive received all of the completed loss draft documents from the borrowers. On September 25, 2015, LenderLive received loss draft proceeds in the amount of $11,059.72. On September 29, 2015, LenderLive disbursed $3,686.62 from the loss draft proceeds. On October 5, 2015, LenderLive disbursed $1,843.32 from the loss draft proceeds. The disbursements made on September 29, 2015 and October 5, 2015, totaled $5,529.94, which is 50% of the total loss draft claim and the amount the borrowers requested to begin the repairs to their roof. On November 17, 2015, LenderLive disbursed $876.14 from the loss draft proceeds, bringing the amount of loss draft funds disbursed to the borrowers at 66% of the total loss draft claim. Additionally, by letter dated November 17, 2015, LenderLive provided to the borrowers with the Statement of Completion form and informed the borrowers that receipt of this completed form by LenderLive was required before LenderLive could send the remaining loss draft proceeds to the borrowers. LenderLive stated that it desired to assist the borrowers so that they could receive the remaining loss draft proceeds; however, as of the date of this response, LenderLive has not received the completed and signed Statement of Completion form from the borrowers. LenderLive requested that the borrowers return the completed and signed Statement of Completion form at their earliest convenience in order for LenderLive to disburse the remaining loss draft proceeds to the borrowers. LenderLive also informed the borrowers that we value them as a customer and appreciated their feedback as we want to meet the borrowers' expectations in connection with the servicing of their loan. A letter capturing the above events was sent to the borrowers along with another Statement of Completion form. Initial Consumer Rebuttal / [redacted] (3000, 8, 2015/11/24) */ (The consumer indicated he/she DID NOT accept the response from the business.) My sequence of events is exactly what has transpired. I have the phone records and all the emails to back this up. What's more disturbing is that this company has yet to contact me. I made it clear that the contractor wanted to be paid 50% of the total job not the check that was sent. I made that very clear more than a few times. I have not received a check for $876.14 and I have no idea why in the world they would send me $876.14 in the first place. The job was completed on Oct 23rd 2015, That's 4 weeks ago and finally Inspected on November 12. They should have paid the total amount of $5,530.00 that they are still holding. Why are they still keeping this money knowing that the job is complete? I sent the statement of completion document on October 23rd 2015.(attached)on November 11 an inspector named [redacted] called to schedule an inspection but he had no idea whatsoever what he was to inspect. I had to tell him. He came on Friday November 12th and I signed that Statement of Completion document for a second time along with some other documents stating he was there and I was satisfied with the work completed. I have made several phone calls to lender Live and ended up getting the call interruption while on hold stating , "to keep your place on line and have a representative contact you later please leave your number. I've done that too many times to count and no one has ever called me back. Finally on Thursday 11/19/2015 I got through and spoke to [redacted] . After explaining this situation to her and pointedly told her how upset I was, she hung up on me! I called back a few minutes later and she answered again and said she didn't mean to hang up on me which I do not believe for one minute. After she took all my information down she looked at my account and stated that a check for $84,500.00 was overnighted to me and I should receive it that day. I told her that I wasn't looking for anywhere close to that amount and asked if she was sure she was looking at the right account and she read my name and address to me and stated that the inspection was complete and how great the pictures looked and then said yes, I'm looking at your account. When I told her that amount was not right she asked, "well how much are you looking for"? I told her, "are you kidding me? You should know this! You are my Mortgage Servicing Company aren't you! After sitting on the phone for five more minutes listening to her type in the background I told her that I had to go to work and to call me back when they figured it out. She said she would, I knew that call would never come and as of today November 24 at 1:45PM I have not heard a word from this company nor have they NEVER called me. They need to pay the contractor that's it. How hard can this possibly be? If they indeed did cut me a check for $876.14 on November 17th why didn't [redacted] see this when we spoke two days later on November 19th? Why didn't Lender Live release all the funds for the job when the inspection was completed and documented on November 12th? Final Business Response / [redacted] (4000, 10, 2015/12/04) */ LenderLive stated that it empathized with the inconvenience the borrowers experienced in connection with the loss of the roof of their home and that LenderLive understands the borrowers' frustration with the processing of their insurance claim. The disbursements referenced in LenderLive's letter dated 11/23/2015 were made pursuant to LenderLive's Loss Draft Policy of issuing one-third of the loss draft funds upon LenderLive's receipt of all completed loss draft documents; issuing an additional one-third of the loss draft funds at the time the repairs are determined to be 66% complete; and issuance of a final draw of the loss draft funds at the time an inspection has been completed evidencing that 90% of the repairs have been completed and LenderLive has been furnished with a completed and signed Statement of Completion form. LenderLive enclosed a copy of the loss draft packet which was sent to the borrowers with LenderLive's letter dated 9/14/2015, and requested that the borrowers review Pages 2 and 3 stating LenderLive's procedures for insurance losses over $10,000. LenderLive also apologized for the misinformation the borrowers were provided when LenderLive's representative misinformed them that a check representing a different amount was being sent to them. LenderLive stated that its records reflected that on 11/30/2015 LenderLive received the completed and signed Statement of Completion via electronic communication from the borrowers and that on 12/1/2015 the remaining loss proceeds were sent to them with an estimated delivery date of 12/3/2015. LenderLive also informed the borrowers that it stopped payment of the loss draft check sent to the borrowers via U.S. Mail on 11/18/2015. LenderLive stated that the amount of the loss draft check was derived by multiplying the remaining loss draft claim by 16% after the disbursements which were made on 9/29/2015 and 10/5/2015, respectively, as the repairs had been determined to be 66% complete. On 12/3/2015 LenderLive issued a replacement loss draft check which is estimated to be delivered on 12/7/2015. LenderLive also stated that it valued the borrowers as customers and that LenderLive is devoted to embracing a customer centric philosophy as we want to build successful relationships with our customers. A letter capturing the above was sent to the borrowers along with a copy of LenderLive's 9/14/2015 letter with insurance loss procedures. Final Consumer Response / [redacted] (2000, 12, 2015/12/07) */ (The consumer indicated he/she ACCEPTED the response from the business.)
Initial Business Response / [redacted] (1000, 6, 2015/08/21) */ LenderLive has reviewed your loan and has determined the following: On [redacted] LenderLive remitted a payment to the City for the payment of the City Tax LenderLive discovered that the City Tax paid to the City had been paid by your previous servicer on or about [redacted] On [redacted] LenderLive filed a Refund Petition with the City's Department of Revenue, requesting a refund On [redacted] LenderLive received the refund from the City's Department of Revenue and placed these funds back in your escrow account LenderLive conducted an escrow analysis of your loan, and a copy of the escrow analysis, with your new payment amount, will be sent directly to you for your review Additionally, LenderLive has determined that a credit correction is warrantedLenderLive has submitted a credit correction update to the major credit reporting agencies instructing them to report that the [redacted] loan payment was remitted timelyPlease note that updating your credit bureau records may take up to daysUnfortunately, LenderLive has no control over the credit bureau updating process Please accept LenderLive's apology for any inconvenience or frustration you may have experienced in connection with the servicing of your loan
Initial Business Response / [redacted] (1000, 6, 2015/10/06) */ LenderLive's records reflect that the borrowers contacted us via electronic communication on August 27, and on September 9, 2015, and requested that the PMI be cancelled LenderLive has reviewed the borrowers' loan and determined that the borrowers met the criteria required for the cancellation of the PMI connected to their mortgage loanBy letter dated September 30, 2015, LenderLive notified the borrowers that they were no longer required to carry PMIA refund for the unearned PMI premium will be sent to the borrowers within daysThe September 30, 2015, letter also informed the borrowers that that effective October 1, 2015, their contractual loan payment would consist of principal, interest, property taxes and hazard insurance, and that after an escrow analysis was conducted, they would receive a check representing a surplus from their escrow account For the borrowers' convenience, we have sent a letter capturing the events listed aboveLenderLive apologized to the borrowers because they were required to contact us on several occasions requesting the cancellation of the PMILenderLive takes such issues seriously and endeavors to address and respond to all customer inquiries within an acceptable response timeLenderLive is devoted to embracing a customer centric philosophy as we want to build successful relationships with our customers
LenderLive is responding to the borrower by letter which captured the below.LenderLive apologized to the borrower for any inconvenience or frustration she may have experienced in connection with the refund of excess payoff funds for her loan. LenderLive stated that on 03/30/it received
loan payoff funds; that after application of the lien release, LenderLive determined there were excess funds; and that LenderLive’s policy requires a day hold on all excess funds remitted to allow time for any outstanding invoices associated with the loan to be remitted. LenderLive stated that on 04/13/a check for excess funds was issued and on 04/14/the check was mailed to the borrower. LenderLive stated that on 05/18/the borrower contacted LenderLive informing us that the borrower had not received the refund check; that on 05/27/LenderLive stopped payment on the check and attempted to send the refund proceeds to the borrower via wire; however, we did not have the correct wire information for the borrower’s bank. LenderLive stated that on 06/02/the borrower contacted LenderLive informing us that she had not received the refund check nor confirmation of wired funds from her bank; she requested that LenderLive remit the refund proceeds to her via check, confirmed her mailing address; however, LenderLive’s representative incorrectly informed her that a check was issued, was overnighted to her and that she would receive the check by the end of the week. On 06/20/LenderLive attempted to wire the refund proceeds to the borrower; however, those funds were returned to LenderLive as the bank routing information provided was for an ACH transaction and not for a wire transaction. On 06/21/LenderLive reissued a wire for the refund proceeds with the correct routing information and it is LenderLive’s understanding that the borrower has received the refund proceeds
LenderLive sent a letter to the borrower capturing the events listed below
On December 23, 2015, LenderLive Network LLC (LenderLive) received notification from the Revdex.com (Revdex.com) that you had filed rebuttal to response in connection with a complaint with respect to the above referenced loan
LenderLive's records reflect that the servicing of your loan was transferred from the prior servicer to LenderLive effective February 2, LenderLive notified you of the servicing transfer by letter on February 10, This notice, as well as all subsequent written communications from February through June 2015, were sent to the mailing address that LenderLive received from your prior servicer
On February 23, 2015, you contacted LenderLive to inquire as to your loan balance and the amount of your monthly contractual loan payment
LenderLive's records reflect that the prior servicer forwarded to us the contractual loan payments paid to them directly for the months of February, March and April, 2015, and LenderLive applied these payments to your loan
However, LenderLive did not receive the May 1, contractual loan payment, so telephone calls were made in an attempt to contact you on the following dates:
May 19,
May 26,
May 27,
June 4,
June 5,
June 9,
June 10,
LenderLive also sent you written communication regarding the loan status for both the May and June paymentsOur records reflect that we sent letters to you about your loan status on May 22, 2015, and May 26, Further, on June 2, 2015, we sent a loss mitigation solicitation letter to you, and on June 10, 2015, we sent the required Service Members Civil Relief Act (SCRA) letterPlease note that these communications are not sent via certified mail as industry practice is to send these letters through standard mail
Our records reflect that on June 24, 2015, you contacted LenderLive by telephone stating that the May 1, contractual payment had been sent to the prior servicer; that the June 1, contractual loan payment had been sent to LenderLiveHowever, LenderLive did not have record of receipt of either of these paymentsFurther, you provided a new address send all communicationsTherefore, all subsequent communications have been and are being sent to this address
The payments received for the May 1, and June 1, contractual loan payments were more than days past due which LenderLive reported to the major credit bureausYou have indicated that you have remitted the May 1, contractual loan payment on time to the prior servicer, and that the June 1, contractual loan payment was remitted via check to LenderLive on timeHowever, LenderLive did not receive the check representing the June 1, contractual loan paymentLenderLive respectfully requests that you submit evidence to us confirming that the May 1, and June 1, contractual loan payments were remitted timelyAfter review of our records we have not received any indication these mortgage payments were paid as agreed in the months they were owedThis evidence of payments can be in the form of an unedited bank statement that confirms these monies were withdrawn from your bank account in the months they were owed
Our records further reflect you made a payment on July 7, to bring the loan current and satisfy the contractual loan payments due for May 1, 2015, June 1, and July 1, A payment history from February through the end of July has been sent to your attentionHowever, LenderLive will not provide servicing notes at this time as they are proprietary information
Without evidence that the May 1, payment to the prior servicer, and June 1, payment to LenderLive were made timely, LenderLive cannot make any corrections to the credit reportingLenderLive is required to report the payments accurately to the Credit Reporting Bureaus as they are received per the Fair Credit Reporting Act (FCRA)
LenderLive responded to the borrower by letter capturing the belowLenderLive requested that the borrower note that in our recent letters to her and her former spouse, we requested that they provide evidence to us confirming that the 5/1/and 6/1/contractual loan payments were remitted timelyLenderLive informed the borrower that on 1/11/we received documentation from the borrower’s former spouse concerning the contractual loan payments for 5/1/2015, 6/1/and 7/1/which was a screenshot of the bank account that reflected “scheduled transactions.” The screenshot provided also showed that the funds were scheduled to be sent to the investor of the borrowers’ loanAs a courtesy to the borrowers in order to provide positive customer service, LenderLive has sent a comment to the major credit bureaus that the payments for 5/1/2015, 6/1/and 7/1/were paid as agreed and never late. LenderLive further stated that the borrower should allow days for the credit bureaus to reflect the comment and update
LenderLive responded to the borrower by a letter which will be sent to the borrower which captures the belowLenderLive stated that as stated in its response dated 03/24/2016, the servicing of the borrower’s loan was transferred to a new servicer with an effective date of 02/01/2016; that the Notice of Servicing Transfer dated 01/15/was sent by the new servicer to the borrower at least days prior to the servicing transfer notifying the borrower that LenderLive would cease servicing the borrower’s loan and that the new servicer would begin servicing the borrower’s loan with an effective date of 02/01/2016. LenderLive provided another copy of the Notice of Servicing Transfer to the borrowerLenderLive stated that when a service transfer occurs, there is a day period where no late charges are assessed and nothing is reported to the credit bureaus in order to allow the new servicer sufficient time to fully load the loan to their system as well as receive and apply any payments remitted from the transferring servicerLenderLive stated that this period protects the borrower from potential erroneous information being reported and provides the new servicer time to process the multitude of payments being received via check, wire and ACH. LenderLive stated that it believes that the turn time from receipt of the borrower’s payments for the months of February and March for the transmission of those payments to the new servicer, and the application by the new servicer to the borrower’s loan is not unreasonable nor outside the industry standardLenderLive reiterated that as stated in its response dated 03/24/2016, on the date the servicing of the borrower’s loan was transferred, the 02/01/contractual loan payment was due, and that LenderLive’s records do not indicate that we submitted any negative comments to the major credit reporting agencies. Further, our records reflect that the borrower’s loan was not assessed any additional interest as the borrower remitted the borrower’s contractual loan payments timely to LenderLive. LenderLive stated that it reported to the major credit reporting agencies that the borrower’s loan was current and paid as agreed
LenderLive is responding to the borrower by letter which captured the belowLenderLive provided the borrower with a chronology of events regarding the information as to the process for the removal of PMI from the borrower’s loanLenderLive stated that after reviewing the telephone conversations
with the borrower, LenderLive was unable to locate any call where a LenderLive representative informed the borrower that the PMI would be removed or the mortgage insurance premiums would be refunded. LenderLive stated that as reflected above, on 02/04/LenderLive informed the borrower that we had not received the appraisal for the property, and that due to the fact that the review process had not been fully completed prior to the transfer of the servicing of the borrower’s loan, LenderLive was unable to offer a refund of the mortgage insurance premiums paid to the PMI companyLenderLive stated that it had forwarded to the new servicer all documents receipt with respect to the borrower’s PMI removal request so that the new servicer could complete the review of the borrower’s PMI removal request
LenderLive responded to the borrower by letter capturing the below
LenderLive stated it valued the borrower as a customer and appreciated his feedback
LenderLive stated that it had researched the issues the borrower raised in his complaint and found that unfortunately the loan number indicated
on the 02/loan payment the borrower remitted was not a LenderLive loan numberLenderLive stated that after researching, LenderLive was able to locate the borrower’s account and credited his 02/01/contractual loan payment to his loan with an effective date of 02/03/
LenderLive also stated that as of the date of the letter, the borrower’s loan was current and that his next contractual loan payment would be due 04/01/
LenderLive stated that pursuant to RESPA, there is a 60-day grace period in connection with the transfer of servicing of mortgage loans in which the borrower could not be charged a late fee and no reporting made to the major credit reporting agencies that payments were late. LenderLive indicated that at such time as LenderLive may begin credit reporting, LenderLive would indicate that the borrower’s 02/01/contractual loan payment was paid as agreed
LenderLive responded to the borrower by letter capturing the belowLenderLive stated that the borrower should submit the “Certificate of Service of Statement of Intention” which she believes is a “reaffirmation to pay” to LenderLive Network LLC, Attention: *** ***, *** *** *** *** *** *** *** *** LenderLive stated that in response to the borrower’s request for a loan modification, by letter dated 9/23/LenderLive denied the borrower’s loan modification request as LenderLive’s review of the borrower’s financial and other information indicated that she had sufficient financial ability to make her current loan payments. LenderLive also stated that the presence of a discharged bankruptcy was not a factor which was included in LenderLive’s decision to deny the borrower’s modification requestLenderLive stated that it valued the borrower as a customer and apologized for any inconvenience or frustration the borrower may have experienced in connection with the servicing of her loan
Initial Business Response /* (1000, 9, 2015/10/12) */
On September 30, 2015, LenderLive Network Inc(LenderLive) received the borrower's electronic communication regarding his loan and requesting that LenderLive stop contacting the borrower by telephoneAlso on September 30, 2015, LenderLive
received notification from the Revdex.com that the borrower had filed a similar complaint concerning telephone calls made to the borrower and the servicing of the borrower's loanSubsequently, on October 6, 2015, LenderLive received the borrower's letter dated September 30, 2015, stating that the borrower had received no communications from LenderLive with respect to the borrower's loan; requesting that LenderLive cease contacting the borrower by telephone; and informing LenderLive that the borrower believed he had met his commitment with respect to his loan
LenderLive is in the process of completing its research of the borrower's communications as we want to make certain that the information and any documentation we provide to the borrower is accurateWe anticipate providing the borrower with a complete response within the next five (5) business days
Initial Consumer Rebuttal /* (4200, 14, 2015/10/23) */
(The consumer indicated he/she DID NOT accept the response from the business.)
First of all, my september payment, according to the bill on line and finally received in October, stated my payment was due on 10/No penalty for late fee, no mention it was late
I even called Lender live directly and the agent even stated my september payment was due on 10/Why, because you purchased the loan from another bank and your agent appologised for being late and not receiving any informationThey corrected the address and now I get letters, finally, but that started in late september
As to my electronic paymentI entered the information correctly, use the same account I always useyour system kicked me out many times while trying to pay, and still doesIt takes attempts to make any payment and many times kicks you out while you are checking account status
I entered the information correctly in your system, its obvious your system has issues, its on line everywhere!!!I checked with the bank and there were adequate funds and I checked the account on line prior to the payment
Now, to make matters worse, I did not receive any notification that the check was returned, for whatever reasonThe agent informed me a week after trying to make payment and I received the information that the bank rejected the transfer at the end of September
I checked on my account, entered exactly the same information and took screen shotsThis time it went through
I then set up autopay from then on as I normally do with everything else I do with my house
I could not even enter anything for autopay until the previous payment had clearedSo could not even enter the information until after 10/for autopay
Again, used the same account
I am not paying a $return fee when it is your system and was never late in the first place
I do not receive phone calls now, thank you finally for that, and now receive my bills via mailThis did not start until the 21st of september
I will not accept this answer, again your system has many issues and I am not going to be penalized for a problem with your system
You purchased my loan from a bank I wanted to do business with and was very good at communicatingUnfortunately, its clear your company has many issues with your systems and will not even consider that in your answer
Take a look at *** many people have the same issue I have experiencedI know Im not alone
Credit the $to my account, as your agent indicated actually
***
Final Business Response /* (4000, 17, 2015/11/06) */
LenderLive Network Inc(LenderLive) received the borrower's rebuttal complaint regarding the servicing of his loan
In the spirit of good customer service, LenderLive has waived the returned item chargeThere are no outstanding fees owed by the borrower
LenderLive made another review of its records in connection with the registration of the borrower's account on its website and found that the borrower successfully registered his accountLenderLive's records also reflected that the borrower was able to log in to the LenderLive website
LenderLive understands the challenges the borrower may have encountered accessing its website, and stated that if the borrower encounters difficulties accessing its website in the future, a LenderLive representative would be happy to assist the borrower and provided a toll free number for the borrower to call for future assistance
LenderLive sent a letter capturing the events listed above, and stated that LenderLive values the borrower and appreciates his feedback as LenderLive wants to meet the borrower's expectations in connection with the servicing of his loan