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Reviews Mortgage Broker Lender Live Network

Lender Live Network Reviews (124)

LenderLive is responding to the borrower by letter which captured the belowLenderLive responded that it is seeking a refund from the borrower’s prior insurance company as stated in LenderLive’s letter dated 06/14/to the borrower. LenderLive stated that on 06/16/it contacted the borrower’s prior insurance company who informed LenderLive that the cancellation request had been received and was being processed, and that a refund for the premium would be sent directly to the borrower at her mailing address LenderLive stated that once the borrower receives the refund from her prior insurance company she is free to do what she desires with the refund proceeds, and that LenderLive only suggested that the borrower forward the premium refund to the new servicer of her loan to reduce or eliminate a possible escrow shortage

LenderLive responded to the borrower by letter capturing the belowLenderLive stated that it had reviewed the borrowers’ loan and determined that two payments received were applied as curtailments to their loan in August and January and that we reversed those payments and reapplied them
as escrow payments on the borrowers’ loanLenderLive enclosed a loan history for the borrowers’ convenient referenceLenderLive stated that in the borrowers’ complaint they also indicated that their escrow balance reflected a deficit and that due to the fact that LenderLive has completed the reversal and reapplication of payments, the borrowers’ escrow balance now reflects a positive amount. LenderLive stated that it valued the borrowers as customers; that LenderLive appreciated the borrowers bringing their concerns to our attention and are treating them as a training opportunity to better serve our customers; and requested that the borrowers accept LenderLive’s apology for any inconvenience or frustration they may have experienced in connection with the servicing of their loan

LenderLive responded to the borrowers by letter capturing the belowLenderLive stated that it contacted the county and confirmed that they received two payments for the property taxes owed for the year of 2015. Because the borrower’s payment of the property taxes was received prior to the
payment LenderLive remitted from the borrower’s escrow account, the county issued a refund to LenderLive’s tax vendor. LenderLive sent the borrower a check in the amount of the payment he remitted to the county for the property taxes. LenderLive also sent the borrower a gift card to compensate him for any inconvenience

LenderLive's records reflected that by letter dated 02/10/we notified the borrowers that the servicing of their loan had been transferred by the previous servicer to LenderLive effective 02/02/All of LenderLive's subsequent communications, including billing statements, past due
reminders, credit score warnings and a loss mitigation solicitation letter, for the period of February through June were sent to the mailing address provided by the previous servicerThis was due to the fact that LenderLive was not provided with a forwarding address for the borrowers by the U.SPost Office
LenderLive's records further reflected that on 02/23/the borrowers contacted LenderLive to inquire as to their loan balance and the amount of their monthly contractual loan payment
LenderLive's records reflected that the previous servicer forwarded to us the contractual loan payments for the months of February, March and April, 2015, and these payments were applied to the borrowers' loan
Due to the fact that LenderLive did not receive the 05/01/contractual loan payment, a LenderLive representative attempted to contact the borrowers by telephone on several occasions, but was unable to personally speak with either borrowerOur records reflect that by letter dated 05/22/we notified the borrowers that their loan was past due and informing them that a late charge had been added to their loanOn 05/26/we sent the borrowers a Mortgage Past Due Statement
Due to the fact that we did not receive the 06/01/contractual loan payment, on 06/02/2015, we sent a loss mitigation solicitation letter to the borrowersFurther, on 06/10/we sent the required Service Members Civil Relief Act (SCRA) letterOn 06/16/LenderLive sent the borrowers the billing statement for July
LenderLive's records reflected that on June 24, 2015, the borrowers contacted LenderLive by telephone stating that the 05/01/contractual payment had been sent to the previous servicer; that the 06/01/contractual loan payment had been sent to LenderLive; and provided instructions to send all communications to the Adelphi, Maryland addressTherefore, all subsequent communications have been and are being sent to this address
The payments received for the 05/01/and 06/01/contractual loan payments were more than days past due which LenderLive reported to the major credit bureausThe borrowers indicated that they remitted the 05/01/contractual loan payment on time to the previous servicer, and that the 06/01/contractual loan payment was remitted via check to LenderLive on timeHowever, LenderLive did not receive the check representing the 06/01/contractual loan paymentLenderLive respectfully requested that the borrowers submit evidence to LenderLive confirming that the 05/01/and 06/01/contractual loan payments were remitted timely
LenderLive's records further reflected the borrowers made a payment on 07/07/to bring their loan current and satisfy the contractual loan payments due for 05/01/2015, 06/01/and 07/01/
LenderLive indicated that no credit corrections will be initiated at this time as the payments were reported accurately to the bureaus as they were receivedLenderLive is required to report the payments accurately to the Credit Reporting Bureaus as they are received per the Fair Credit Reporting Act (FCRA)
LenderLive sent the borrowers a letter capturing the above events

Initial Business Response /* (1000, 6, 2015/10/12) */
By letter LenderLive notified the borrowers that the servicing of their loan had been transferred to LenderLive effective as of September 1, 2015, and that their loan was due for the September 1, contractual loan paymentOn September 11,
2015, a LenderLive representative spoke by telephone with the borrowers concerning their September 1, contractual loan payment, and during this telephone conference, the borrowers stated that the September 1, contractual loan payment had been made on September 9, 2015, via an online withdrawal from the borrowers'; however, LenderLive was unable to confirm receipt of the funds from the borrowers' bankLenderLive's representative requested that the borrowers submit documentation from their bank evidencing payment of the September 1, contractual loan payment, and received an electronic communication from the borrowers in which they included documentation reflecting that on September 9, 2015, a check was mailed to LenderLiveSubsequently, on September 16, 2015, a LenderLive representative spoke by telephone with borrowers concerning their September 1, contractual loan payment, and was informed by the borrowers that the check they submitted on September 9, 2015, contained an incorrect account number, and they also requested that LenderLive open an action request form to research the whereabouts of the check which was mailed to LenderLive by the borrowers' financial institutionLenderLive sent a letter dated September 22, 2015, notifying the borrowers that the September 1, contractual payment had not been received and that the borrowers' loan was past dueLenderLive's records indicated that on September 24, 2015, at 3:p.m(MT), the borrowers initiated a telephone payment; however, due to the fact that the borrowers initiated the telephone payment after 3:p.m(MT), LenderLive was unable to post the September 1, contractual loan payment until September 25,
LenderLive's Accounting Department has attempted to locate the borrowers' check which they indicated was mailed on September 9, 2015, and as stated previously, the documentation provided by the borrowers indicated an incorrect loan numberUnfortunately, LenderLive cannot locate the check from the borrowers' financial institution without additional identifying informationLenderLive encouraged the borrowers to contact their financial institution to validate that the check payable to LenderLive was cashed by LenderLiveLenderLive also requested that the borrowers provide LenderLive with a copy of the cashed check (front and back sides) and provide the address to which their financial institution sent the check so that LenderLive can conduct further research on this issue
Finally, LenderLive's records reflect that on October 1, 2015, the borrowers initiated a payment via LenderLive's website which satisfied the October 1, contractual loan payment, and that as of the date of this response, the borrowers' next contractual loan payment will be due on November 1,
Initial Consumer Rebuttal /* (2000, 8, 2015/10/13) */
(The consumer indicated he/she ACCEPTED the response from the business.)
Once LenderLive become unresponsive (even after sending them the proper documentation) I contacted my credit union and cancelled payment and resubmitted it
It would have been nice to receive true customer service and be helped, but unfortunately that didn't happen
I sincerely appreciate the help of the Revdex.com in this case

Lenderlive responded to the borrower by letter capturing the below
Lenderlive has reviewed the borrower's loan and our records reflected that during a telephone call on 08/28/2015, the borrower requested a copy of the monthly billing statementSubsequently, on 09/02/2015, Lenderlive sent a
copy of the billing statement to the borrower via facsimile as requested
Our records also reflect that on 09/24/2015, the borrower contacted Lenderlive via telephone advising of not receiving the billing statementA Lenderlive Customer Service Manager stated that he would research for any possible system issue and provided to the borrower his direct telephone number in the event the borrower experienced any further issues concerning non-receipt of billing statementsLenderlive identified an error in the letter cycle which affected the timeliness of mailing the September monthly billing statement for select borrowersThis issue was corrected during the same month
Lenderlive's records reflect that on 10/21/2015, the borrower contacted Lenderlive and requested that the October billing statement be e-mailed and this request was completed on 10/27/
Lenderlive's records also reflect that on 12/21/2015, the borrower contacted a Lenderlive Customer Service Manager and requested that the November billing statement be e-mailedThis request was completed the same day
Lenderlive provided the borrower all requested monthly billing statements and the welcome letter as attachments to Lenderlive's letter responseLenderlive advised that if the borrower has further concerns regarding these or any future billing statements, to contact Lenderlive so that we can address those concerns

LenderLive is responsing to the borrower by letter which captured the below.LenderLive was the servicer of your loan from June 17, to September 1, 2016. On August 4, 2016, LenderLive issued a check payable to the county to pay the School District taxes in the amount of $(copy of
check attached). On September 9, that check was returned from the county as the payment should have been sent to *** *** *** (the vendor for the payment to the county). On September 1, the servicing of your loan was transferred to *** *** ***. Due to the servicing transition over to *** *** ***the issue on the returned check was not recognized until early December. On December 6, a check in the amount of $was re-issued to *** *** ***to be deposited into your escrow account to pay the School District taxes. *** *** ***cashed the check on December 12, (copy attached). The check attached does represent funds for your loan and one other. LenderLive acknowledges that you made three phone inquiries regarding the unpaid school taxes. The first request was received on March 7, at which time the customer service representative indicated the property taxes that had been sent to the county were returned to LenderLive on September 9, 2016. However, since the loan had already transferred to a new servicer (*** *** ***.) the check was re-issued to *** *** ***. You indicated you would contact *** *** ***directly. On March 8, 2017, you placed another call to LenderLive indicating you had spoken to the county and they had no record of funds being received from LenderLive. The customer service representative relayed that the check would have been from our vendor (***) and not LenderLive. The customer representative also confirmed again the funds had been sent to the new servicer (Equity Resources, Inc.). Another call was received by you that same day (March 8, 2017) requesting a copy of the front and back of the check that had been issued in August 2016. At that time the customer service representative erroneously stated LenderLive did not have copies of the check. This should have been escalated to upper management at that time to assist with copies of the checks. We would like to help resolve the tax issue; however, are no longer the servicer of your loan. I am happy to speak with *** *** ***regarding the tax disbursement but would also need to have your permission to do so. We would like to confirm they did in fact pay the taxes due that we submitted to them. We sincerely apologize for causing the delay in processing the tax payment timely. If you can please provide documentation from the county showing the penalties paid we will reimburse you for that amount. We will contact you directly to discuss this in more detail

(The consumer indicated he/she DID NOT accept the response from the business.)
You've basically stated that you did the bare minimum required to notify your customer who; by the way; has no choice but to use your service
The notices you sent were sent to an address which I do not live at and have not lived at for over yearsLenderLive is also the service provider for the mortgage of the house that I currently live in which means you had my current address the whole time
Please provide the phone number which you attempted to contact and clarify if you ever in fact made contact with anyone at that phone numberJust because you called a phone number does not mean you made contact with anyone and I can confirm I have never, ever received a phone call from someone at LenderLive that I've actually talked to including the multiple times I've been told I would receive a phone call during this process
There is no evidence that the payments were sent to LenderLive during that time frame because those two payments were sent to the previous holder of the loan, because I was never notified that the loan had changed handsI can show you evidence that the payments were in fact sent to the previous lender and I made the payments on time and in good faith that my loan was still held by my the previous companyIn fact my payments had been set on an automatic payment from my bank to the servicer for yearsSee attached
Once again I am not asking for anything other than to correct the errors on our credit reports based on the fact that neither of us actually received these notifications and had no way of knowing the loan had changed service providersYou've proved you sent notification but you have not proved any was receivedI've proved that the payments were sent on time in good faith to the previous loan servicer as they had been for years prior which indicates I have no history of missing payments and in fact could not even accidentally miss a payment because it was an automatic withdrawal from my bank account
Furthermore I was told by multiple lenderlive representatives that the investigation into this matter had closed and lenderlive was in the process of correcting the credit report errorsThat was until I filed a complaint with the Revdex.com because of the length of time which it had taken to address this matter and the fact that LenderLive would never call me back when I was told I would receive a callNow you've changed your responseWhy?

LenderLive contacted you directly on 8/18/and advised that LenderLive has continued to push for payment from the vendor. The vendor has been paid for these work units by LenderLive and is expected to remit appropriate payment to you. An escalation was originally sent on 7/18/to
the vendor for payment. LenderLive has sent another escalation to the vendor regarding your payment. Please contact us again if payment is not received or if we can provide additional assistance in resolving the issue

LenderLive is responding to the borrower by letter which captured the belowLenderLive stated that the transfer of servicing of the borrower’s loan to another servicer took place on 02/01/2016. That on 03/10/a LenderLive representative spoke with the borrower by telephone acknowledged
that timely payment of the property taxes had not been made and that LenderLive was responsible for the payment of the property taxes. During this telephone conversation, LenderLive’s representative requested that the borrower contact the new servicer, request that they pay the property taxes, late fees, penalties and interest and that LenderLive would reimburse the new servicer for the payment of all late fees, penalties and interestLenderLive requested the borrower to send to LenderLive documentation of the payment of taxes, late fees, penalties, interest and/or any other charge associated with the late payment of the property taxes which the borrower remitted and that LenderLive would reimburse via check the borrower for his out-of-pocket expenses and send the same to the borrower via Federal ExpressLenderLive also informed the borrower that it had contacted the major credit reporting bureaus as well as the county concerning the tax lien and that LenderLive was unable to delete the tax lien from the borrower’s history. LenderLive included a letter of explanation concerning the payment of the property taxes that the borrower could provide to any current or future creditor as explanation of the negative comments on the borrower’s creditLenderLive expressed its apology for the unfortunate issue as well as any inconvenience or frustration that the borrower may have experienced in connection with LenderLive’s servicing of the borrower’s loan

LenderLive responded to the borrowers by letter capturing the belowLenderLive stated that it confirmed a payment was remitted from their escrow account by LenderLive’s insurance vendor to pay a premium for homeowners insurance. Upon further review, LenderLive confirmed this was not for a
homeowners insurance policy connected to the borrowers’ mortgage account and confirmed with the insurance company that received these funds that a refund was remitted back to our vendorOn 02/12/LenderLive’s insurance vendor mailed a check to LenderLive’s offices to credit back to the borrowers’ escrow account. As of the date of the response letter, the funds are in the process of being received and will be forwarded to the borrowers’ new servicer to be refunded to their escrow account

LenderLive's records reflected that the servicing of the borrowers' loan was transferred to LenderLive effective as of 8/1/On 8/7/LenderLive mailed to the borrowers a Welcome Letter which was within the Real Estate Settlement Procedures Act guideline for notification to the borrower from the new servicer as to the transfer of the loanLenderLive's records further confirmed that a LenderLive representative spoke by telephone with the co-borrower's husband on 8/15/and on that date he informed LenderLive's representative that LenderLive would receive a call from the co-borrower
LenderLive's records reflected that on 8/24/we received the borrowers' 8/1/contractual loan payment which was posted to their loan as received on 8/24/There were no late charges assessed to the borrowers' loan nor were any negative comments submitted to the major credit reporting agencies
As stated in LenderLive's letter dated 12/7/LenderLive's records reflected that on 9/23/the co-borrower contacted us by telephone and stated that she was experiencing a hardship that made it difficult for her to make the 9/1/contractual loan paymentDuring this telephone conversation, LenderLive's representative informed the co-borrower that LenderLive was unable to offer her a one month deferment; however, LenderLive would be happy to assist her with a loan modification or repayment plan which she declined due to personal circumstances with her husbandSubsequently, on 9/30/LenderLive received the borrowers' 9/1/contractual loan payment which was posted to their loan as received on 9/30/
LenderLive's records reflected that we did not receive the 10/1/contractual loan payment, and that on 10/16/a LenderLive representative spoke with the co-borrower by telephone concerning the 10/1/contractual loan payment and informed her of the payment options available to assist her with her financial hardshipLenderLive's records also reflected that on 10/24/a LenderLive representative spoke with the co-borrower by telephone who informed LenderLive's representative that the borrowers had sold the property and that the indebtedness on their loan would be satisfied on 11/30/As such, LenderLive would have no loan modification products available since the indebtedness would be satisfiedAlso as stated in LenderLive's letter dated 12/7/2015, on 11/2/LenderLive forwarded to the borrowers a loss mitigation solicitation letter which included a Borrower Response Package and instructions for the completion and submission of the sameLenderLive's records do not reflect receipt of a completed Borrower Response Package
LenderLive's records further reflected that on the morning of 11/19/a LenderLive representative spoke by telephone with the co-borrower concerning the 10/1/contractual loan payment and that the co-borrower indicated she had initiated an online loan payment on 11/19/which she intended to be applied as the 10/1/contractual loan paymentAt the time of this telephone conversation, LenderLive had not placed a stop code on the borrowers' loan
However, at approximately 3:p.mMST on 11/19/a stop code was placed on the borrowers' loan and a demand letter was generated due to the delinquent status of the borrowers' loanAlthough the co-borrower had initiated an online payment on that same day, the payment was subsequently rejected due to the fact that once a demand letter is generated and mailed, LenderLive was unable to accept a loan payment unless we receive all funds required to fully reinstate the loan
The co-borrower stated that on 11/24/she was informed by a LenderLive representative by telephone that in order to bring the loan current, she would be required to pay the contractual loan payments which were due for 10/1/2015, 11/1/and 12/1/The co-borrower expressed concerned that at that time the December 1, contractual payment was not dueLenderLive's records reflect that LenderLive's representative informed the co-borrower in the telephone conversation that if she remitted the 11/1/payment on 11/30/2015, the next contractual loan payment would be due 12/1/LenderLive's records also reflect that LenderLive's representative informed the co-borrower that we did not consider the December 1, contractual loan payment late or in default; however, if the co-borrower waited to reinstate the loan until 12/21/she would need to remit payment of the 12/1/contractual loan payment
LenderLive's records reflect that a payoff statement was generated and sent on 11/25/reflecting an estimated payoff date of 11/30/Later on 11/25/another payoff statement was generated and sent reflecting an estimated payoff date of 12/21/LenderLive confirms that these payoff statements differed due to fact that they reflected differing estimated payoff dates
The co-borrower expressed concern that LenderLive did not provide payoff statements in a timely manner; however, pursuant to Consumer Finance Protection Bureau regulations, LenderLive has seven (7) days to provide payoff statementsLenderLive's records reflect that the payoff statements were provided within hours of LenderLive's receipt of the payoff requests
LenderLive's records reflect that on 12/1/we received sufficient funds to pay the borrowers' loan in fullLenderLive stated that the interest on the borrowers' payoff is collected in arrears, and that interest for the months of September, October, and November 2015, or interest for days, was reflected under Account Information on the payoff statement dated 12/1/On 12/14/LenderLive issued and mailed to the co-borrower a payoff refund
As stated in LenderLive's letter dated 12/7/LenderLive researched its records and was unable to find telephone calls made to the co-borrower outside of working business hoursTherefore, it is LenderLive's position that there was no violation of the debt collection regulations as to telephone contact under the Fair Debt Collection Practices Act (the FDCPA)
LenderLive sent the co-borrower a letter capturing the events as stated above

Initial Business Response /* (1000, 6, 2015/12/31) */
LenderLive responded to the borrower by letter capturing the below
The servicing of the borrower's loan was transferred to LenderLive on 09/01/At that time, the second half of the taxes were due in September LenderLive
received the borrower's email inquiry concerning the past due tax bill on 12/08/and promptly began investigating the requestLenderLive found that the September tax payment to the county was still due and owing
LenderLive submitted payment for the September tax bill as well as the penalty fee to the county on 12/09/and enclosed a copy of this check in LenderLive's responseLenderLive advised that the borrower is not responsible for the payment of these penalties, and the borrower's escrow account was refunded the penalty amount on 12/09/
LenderLive has confirmed that the county received the above mentioned payment of the September property taxes and penalty paymentLenderLive's system of record reflects that property tax disbursements for the borrower's mortgage are to be remitted on April and September every yearAs such, tax payments will be made according to this schedule going forward for the borrower's mortgage loan
LenderLive enclosed a copy of the borrower's loan payment history for the period of 09/11/through 12/09/in the letter response, which reflects the available escrow funds after this payment was madeAdditionally, it shows the penalty fee refunded to the borrower's account
Initial Consumer Rebuttal /* (2000, 8, 2016/01/05) */
(The consumer indicated he/she ACCEPTED the response from the business.)

LenderLive responded to the borrower by letter capturing the belowLenderLive provided to the borrower a copy of LenderLive’s previous letter to the borrower dated 12/18/which stated that LenderLive typically does not send the original promissory note marked "Paid in Full" to the borrower if the Lien Release is received and provided to the borrower within days from the date the loan is satisfied. LenderLive stated that the Lien Release was confirmation by the county in which the property is located that they have released the Note Holder’s interest in the property and validation of the ?Paid in Full? status, and that the Lien Release was sent to the borrower on 3/17/after payment in full of his loan on 2/23/LenderLive stated that pursuant to the borrower’s request, on 12/30/the original Note was sent by LenderLive to the borrower via *** *** and provided the *** *** tracking number. LenderLive stated that its records further reflected that the *** *** package was delivered to the borrower on 12/31/at 11:a.m

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution is satisfactory to me
Sincerely,
*** ***

LenderLive will be responding to the borrowers by sending them a letter which captures the below.LenderLive stated that per its previous response to the borrowers’ complaint, the servicer is not obligated nor required to perform an escrow analysis more than once a year; that when LenderLive performed the escrow analysis in 12/2015, it was completed timely, efficiently and within the annual timeframe as is typical in the mortgage servicing industry; and that as such, LenderLive’s position is that LenderLive was not negligent in managing the borrowers’ escrow account.LenderLive stated that in response to the borrowers’ request that LenderLive prove that the amount of shortage is within LenderLive’s average reported shortage over a one-year period, each escrow analysis is specific and unique to the parcel of land associated with the property taxes owed and paid on the specific parcel and there is no average shortage report that is created or run that LenderLive could provide to the borrowersLenderLive reiterated its position that regardless of whether 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

LenderLive responded to the borrowers by letter capturing
the below
LenderLive began servicing the borrowers’ loan on 5/18/
At that time, the borrowers’ escrow account computation period was set to run
from 6/through 5/(6/Computation)This computation, which
was
created by Cherry Creek Mortgage Company, provided for county taxes and
homeowner’s insurancePursuant to this analysis, the borrowers’ monthly escrow
payment was set
On 11/5/LenderLive received the borrowers’ telephone
request for a new escrow analysis which takes approximately calendar days to
complete
In response to the borrowers’ request, on or around
11/25/LenderLive completed and mailed to the borrowers a new escrow
analysis (11/Computation)Based on the 11/25/escrow analysis, escrow
funds surplus was mailed to the borrowers on or around 11/30/However, the
borrowers’ required monthly escrow payment remained the sameAs a standard
practice, LenderLive uses the amounts stated in the preceding year’s escrow
analysis as a best estimate for amounts due in the current escrow computation
period if LenderLive is unaware of any changes in the amount due to the taxing
authority or insurance companies as applicable to each individual loanAs
such, the 11/25/escrow analysis set the expected county taxes and
Homeowner’s insuranceTherefore, the borrowers’ monthly escrow payment
remained the same.
On 12/7/LenderLive received the borrowers’ inquiry as
to why the borrowers’ monthly escrow payment amount remained at the amount set
forth in the 11/25/escrow analysis.
LenderLive responded that this type of request takes approximately
calendar days to complete
On 12/29/a LenderLive supervisor completed a review of
the borrowers’ 12/7/requestThis review found that the actual annual
amount due for county taxes was a lesser amount than the amount as previously
stated in the 6/and 11/Computations respectivelyAs such, a new
escrow analysis was completed and mailed to the borrowers on or around
12/29/(December Computation) reflecting the changes to the tax amount
due, the borrowers’ monthly escrow payment, and that an additional escrow
surplus check would be mailed to the borrowers.
The 12/Computation reduced the borrowers’ monthly escrow payment
effective 1/1/According to LenderLive’s records, a supervisor spoke with
the borrowers on 12/29/and explained this information to the borrowers and
informed the borrowers that LenderLive would update the borrowers’ recurring
ACH to reflect the new payment amount as well
LenderLive’s apologized for any inconvenience or frustration
the borrowers may have experienced in connection with the servicing of the
borrowers’ loan

LenderLive sent a letter to the borrower capturing the below
events
LenderLive began servicing the
borrower’s loan on 8/1/and mailed a Welcome Letter to the borrower on
8/7/to inform the borrower of this change
At the time LenderLive began
servicing the borrower’s loan,
the borrower’s required monthly escrow payment
was a specified amount and the borrower’s total monthly mortgage payment was a
specified amount which included the monthly escrow amountOn 9/24/
LenderLive completed and mailed the borrower a new escrow analysis to alert the
borrower that the borrower’s monthly escrow payment would be increased and her
total monthly mortgage payment would be increased beginning with the 11/1/
monthly mortgage paymentThe reason for the increase to the borrower’s monthly
escrow payment was that LenderLive’s analysis found what appeared to be a
shortage in the borrower’s escrow account as well as an increase of the
required annual taxes through the September Escrow Analysis
LenderLive received a telephone
call from the borrower on 10/22/concerning the borrower’s escrow payment
The call agent alerted LenderLive’s Escrow Team to complete a review of the
account and to verify that the taxes had been paid. This type of request typically takes
approximately days to completeUnfortunately, the review took longer than
usual, and a new escrow analysis was completed on 12/4/and subsequently
mailed to the borrowerThrough the December Escrow Analysis, LenderLive found
the annual taxes due were less than the amount as previously stated in the
September Escrow AnalysisBased on the December Escrow Analysis, the
borrower’s monthly escrow payment amount was decreased beginning 12/1/with
a decreased monthly mortgage payment amountIt was also determined through
that analysis that the borrower’s escrow account had a surplus and an escrow
surplus check was sent out to the borrower on 12/4/However, upon further
review of the borrower’s escrow account and the *** *** tax assessors’
website, LenderLive determined that the tax assessment due by 1/31/had not
been paid as stated in the September escrow AnalysesAs such, LenderLive sent
the escrow surplus check to the borrower in errorTo ensure the borrower’s
account remained current, LenderLive paid the required tax amount due to
*** *** on 1/4/2016. Unfortunately,
due to this required payment and the surplus check sent to the borrower in
error, the borrower’s escrow account contains a shortageWe are requesting
that the borrower return those funds to us so that we may apply them to the
borrower’s escrow account thereby removing the shortageIf those funds are not
returned, the borrower’s monthly mortgage payment will have to increase in
order to cover this shortage
On 11/9/LenderLive received
funds from the borrower and those funds were placed in an unapplied funds
account due to the fact that at that time our system of record indicated the
borrower’s current contractual payment amount was that as indicated in the
September Escrow AnalysisSoon after the borrower’s payment was recalibrated
to reflect a monthly mortgage payment amount as indicated in the December
Escrow Analysis, the 11/9/payment was applied to the borrower’s mortgage
accordingly, which advanced the next payment due date to 12/1/at that
time
LenderLive received a telephone
inquiry from the borrower on 11/19/concerning a late fee assessed for the 10/
mortgage paymentThe call agent the borrower spoke with entered a request to
have this late fee removed that same dayThe late fee was removed from the
borrower’s account on the following business day, 11/20/
The borrower’s complaint requests that LenderLive complete
the following:
1. Remove the late charges: All late charges were reversed
and removed from the accountA late fee was paid out with payment received on 12/8/
This late fee has now been reversed and applied as a principal curtailment on
the loan as of 1/11/If the borrower would prefer that we return this
amount to the borrower rather than apply it as a principal curtailment, we have
asked the borrower to let us know so that we can make the change to the
borrower’s accountOtherwise, the borrower will see there are no late charges
associated with the loan on the next billing statement and the borrower will
also see this activity reflected in the attached payment history
2. Accrued interest be returned: LenderLive did not accrue
any additional interest to the borrower’s loan while the funds submitted on 11/9/
rested in an unapplied funds account for the borrower’s loanAs a standard practice,
interest on a mortgage loan accrues monthly so there was no interest accruing
on the borrower’s account while the funds were placed in the unapplied funds
account prior to application to the borrower’s regular monthly paymentPlease
refer to the payment history provided with this response
3. Correction to credit: We have made updates to the credit
bureaus to show that the borrower’s account is paid as agreed, never lateAs
the credit bureaus update monthly, please allow days for this correction
with the credit bureausUnfortunately, until the credit bureaus complete the
update, no further information concerning this correction can be provided at
this time
4. Unapplied Funds Balance and November payment: As the
borrower will see in the payment history provided, all unapplied funds have
either been applied to amounts due and owing on the borrower’s mortgage loan or
returned to the borrower through the surplus check providedFurther, as of the
date of this letter, LenderLive’s records reflect that the borrower is currently
due for the 1/1/payment
5. Compensation in the amount of $2,for the
inconvenience of dealing with matter: Unfortunately LenderLive cannot
accommodate this requestThe error that caused the increase in taxes was corrected
in the system and all impacted records were subsequently updated as stated in
the December Escrow Analysis
LenderLive believes the steps taken have resolved the
borrower’s issues to the extent possible at this time and apologized for the
inconvenience and frustration the borrower experienced while working with our
team on this matter

LenderLive responded to the borrowers by sending them a letter which captures the below.LenderLive stated that it commenced servicing the borrowers’ loan on 12/23/2014; that the borrowers’ loan was a new build loan; was originated by a mortgage company having a Note date of 10/24/and a first
payment due date of 12/1/2014.LenderLive stated that it had reviewed the origination documents associated with the borrowers’ loan and determined that the Initial Escrow Account Disclosure Statement reflected a starting balance escrow which was also the initial deposit provided on the HUD-Settlement Statement.LenderLive stated that on 12/3/it performed the annual escrow analysis after receiving updated property tax invoices from Montgomery County which identified the true amounts of the taxes owed for Montgomery County and for Montgomery County MUD 119A, and that these increased property tax amounts created the escrow shortageLenderLive responded to the borrower’s statement that multiple LenderLive customer service representatives admitted that errors were made, and that a Director of LenderLive told the borrower that it was not LenderLive’s responsibility to catch the tax increase, LenderLive is unaware of any requirement for the servicer of a borrower’s loan to conduct an escrow analysis twice a year as escrow analyses are traditionally conducted on an annual basis. LenderLive stated that based on the payment date of the borrowers’ loan, LenderLive determined that an escrow analysis was due to be analyzed in 12/which was completed. LenderLive also stated that even if the escrow analysis had been completed in 02/a large shortage would have still been determined based on the large increase in property taxes owedLenderLive stated that as the escrow analysis was completed in December, which is the month it was due for an annual review, LenderLive considered that the escrow analysis was completed timely and efficiently, and that due to the fact that the borrowers’ loan would have experienced a shortage regardless of whether an escrow analysis was completed in February and/or December, LenderLive does not believe it was negligent in the timing and completion of the escrow analysisLenderLive stated that as of 02/01/the servicing of the borrowers’ loan was transferred to a different servicer, and that on 01/31/LenderLive ceased servicing the borrowers’ loan; therefore, LenderLive no longer has access to the borrowers’ loan or the property tax information

LenderLive responded to the borrowers by letter capturing the belowLenderLive stated that by letter dated March 24, 2016, LenderLive provided a response to the borrowers in connection with the complaint they filed with the Revdex.com and enclosed a loan history. LenderLive stated that it was hopeful that the borrowers have received this letter together with the loan history that was enclosedLenderLive stated that that the letter to the borrowers and the loan history included as an enclosure were not uploaded to the Revdex.com website due to privacy issues, and the fact that the Revdex.com publicly posts both the complaint content and the business response. LenderLive only provided to the Revdex.com a synopsis of the response letterLenderLive’s stated that its records further indicated that the servicing of their loan was scheduled to be transferred to their new servicer on April 1, LenderLive enclosed a copy of the Notification of Servicing Transfer dated March 15, 2016, which was sent to the borrowers

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