Initial Business Response /* (1000, 6, 2015/10/06) */
LenderLive's records reflect that the borrowers contacted us via electronic communication on August 27, 2015 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 loan. By letter dated September 30, 2015, LenderLive notified the borrowers that they were no longer required to carry PMI. A refund for the unearned PMI premium will be sent to the borrowers within 45 days. The 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 above. LenderLive apologized to the borrowers because they were required to contact us on several occasions requesting the cancellation of the PMI. LenderLive takes such issues seriously and endeavors to address and respond to all customer inquiries within an acceptable response time. LenderLive is devoted to embracing a customer centric philosophy as we want to build successful relationships with our customers.
Complaint: [redacted]
I am rejecting this response because: Please be advised that I have spoken to the Lenderlive representative. There are two items that are incorrect. The first being the fact that we submitted cancellation to both Lenderlive and the original Hazard insurance company in August 2015 well before the renewal in September 2015. This is only meant to correct the the record as it has no impact to the current situation. The second is that the reimbursement was never agreed to be sent to the new loan service company. That option was never discussed and is not what was agreed to.We will handle the the new loan servicing company shortage and want the refund paid directly to us in [redacted] name
Sincerely,
[redacted]
LenderLive responded to the
borrowers by letter capturing the below.
LenderLive stated that it
confirmed a payment was remitted from the borrowers’ 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 vendor.
On 02/12/2016 LenderLive’s
insurance vendor mailed a check to LenderLive’s offices to credit back to the
borrowers’ escrow account. On 02/26/2016
LenderLive wired the refund amount to the new servicer of the borrowers’
loan. LenderLive requested that the
borrowers allow at least 72 hours for the funds to be received and applied to
the borrowers’ loan, and that after that time period had elapsed, the borrowers
were encouraged to contact the new servicer by telephone (provided the
telephone number for the new servicer) to confirm that the funds had been
received and posted to the borrowers’ escrow account.
Initial Business Response /[redacted]/
Your property taxes due on June 1st, 2015 were disbursed from your escrow account on May 14th, 2015. On June 11th, 2015 upon research with the tax collector's office it was determined the check issued did not arrive in their office. On June...
12th, 2015 a new payment was issued and sent via overnight mail to the tax collector's office. The tax collector's office agreed to waive any fees and penalties assessed to your tax account. At this time your property tax account is in good standing and due for the next installment on August 19th, 2015 which will be paid before the due date.
Initial Business Response /* (1000, 6, 2015/10/06) */
LenderLive's records reflect that the borrowers contacted us via electronic communication on August 27, 2015 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 loan. By letter dated September 30, 2015, LenderLive notified the borrowers that they were no longer required to carry PMI. A refund for the unearned PMI premium will be sent to the borrowers within 45 days. The 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 above. LenderLive apologized to the borrowers because they were required to contact us on several occasions requesting the cancellation of the PMI. LenderLive takes such issues seriously and endeavors to address and respond to all customer inquiries within an acceptable response time. LenderLive is devoted to embracing a customer centric philosophy as we want to build successful relationships with our customers.
Complaint: [redacted]
I am rejecting this response because: Please be advised that I have spoken to the Lenderlive representative. There are two items that are incorrect. The first being the fact that we submitted cancellation to both Lenderlive and the original Hazard insurance company in August 2015 well before the renewal in September 2015. This is only meant to correct the the record as it has no impact to the current situation. The second is that the reimbursement was never agreed to be sent to the new loan service company. That option was never discussed and is not what was agreed to.We will handle the the new loan servicing company shortage and want the refund paid directly to us in [redacted] name
Sincerely,
[redacted]
LenderLive responded to the
borrowers by letter capturing the below.
LenderLive stated that it
confirmed a payment was remitted from the borrowers’ 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 vendor.
On 02/12/2016 LenderLive’s
insurance vendor mailed a check to LenderLive’s offices to credit back to the
borrowers’ escrow account. On 02/26/2016
LenderLive wired the refund amount to the new servicer of the borrowers’
loan. LenderLive requested that the
borrowers allow at least 72 hours for the funds to be received and applied to
the borrowers’ loan, and that after that time period had elapsed, the borrowers
were encouraged to contact the new servicer by telephone (provided the
telephone number for the new servicer) to confirm that the funds had been
received and posted to the borrowers’ escrow account.
Initial Business Response /[redacted]/
Your property taxes due on June 1st, 2015 were disbursed from your escrow account on May 14th, 2015. On June 11th, 2015 upon research with the tax collector's office it was determined the check issued did not arrive in their office. On June...
12th, 2015 a new payment was issued and sent via overnight mail to the tax collector's office. The tax collector's office agreed to waive any fees and penalties assessed to your tax account. At this time your property tax account is in good standing and due for the next installment on August 19th, 2015 which will be paid before the due date.