Sierra Pacific Mortgage

Sierra pacific puts us through the ringer every year stating they cannot verify our flood insurance. We have to have our flood insurance carrier contact them multiple times before they "receive" it. This year they went the extra step and placed flood insurance on us at over $2000 even though we have been contacting them continuously about this issue. Each time there is a different fax number. Today is was oh you should email it that is "faster" even the flood insurance agent cannot believe what a runaround they give us every year. Today the employee at Sierra Pacific response to my husbands request that they call us to verify that they received it was "we don't make outgoing calls". I believe it is time to get a new mortgage company.

My mortgage loan was paid off on 8/20 even though my settlement was on 8/18. They did not issue me my escrow refund until exactly 20 days later on 9/4. Although my updated address was included with the payoff they did not update the system and stated it was mailed to previous address. I had already put a forward of mail to new address with Postal System but never received the payment. In mid September I contacted them and made sure they had my updated address. On 9/29, I contacted them again and stayed I never received the refund. They promised to re-issue promptly. I called again on 10/7 and they still had not re-issued because their policy is to wait 5 - 7 business days to make sure the original check had not been cashed. Even though it had already been 6 business days at that point. So at this point we are now over 47 days since I settled and wired them the payoff but they had not even re-issued me a new check when I never got the first one. I spoke with them on 10/7 and requested a check be re-issued that day and sent overnight for delivery. They said they had no control over when the new check would be issued and mailed and could not go outside of their procedures to send it overnight. We are talking over 2,800 dollars that they have now been sitting on for almost 50 days. If I had not made a mortgage payment in almost 50 days they could charge me a percentage in late fees, submit a deliquency to the credit services corporation and possibly start the process to foreclose. This level of service is unacceptable.

Our records indicate that we factually reported the history of this loan transaction to the credit bureaus relative to this customer The conversation log and history of the transaction indicates that we complied with required debt collection laws when attempting to contact the customer and in correspondence sent to the customer The mortgage payment was indeed paid > calendar days after it was dueSeparate correspondence has been sent to the customer regarding this matter

I am rejecting this response because:Sierra Pacific Mortgage has no documentation to support their escrow analysis That is the essence of my complaint against this company The documentation I have from the County Tax Assessor's office indicates that my property taxes are $5,per year The next installment due March is in the amount of $2,(approximate amount) Therefore, their analysis of next installment payment due March of $4,is incorrect The company has not provided any documentation that supports their escrow analysis My complaint against the Sierra Pacific Mortgage is the lack of documentation to support their escrow analysis If there was a shortage in the escrow account, why is Sierra Pacific Mortgage issuing me a check for $and continue to keep my payment at such a high amount Yes, they lowered the amount by $100, but it is still above what is needed to cover property taxes Until Sierra Pacific can provide documentation to support the increase, I am not accepting their explanation

Paid $300+ to have a pool leak repairedPool started to leak about weeks laterI called leak doctor and they said it was only a temporary fixI told them the tech said " could hold six months, could hold years"They said " oh that's just an expression" do you think if they said 2-weeks I would have put out over $300? I could have just added waterI don't think it would cost that much

Paid my bi May 16 (the pay by date). I’m in Ca they’re in IL .. they claim it had to be made by 10 Central Time to avoid a late fee. Doesn’t state this on the website when you make your payment. Called in explained to them I had an email confirmation for May 16.. They said they need to review this and get back to me in 30 days .? Are you kidding me?

We have already filed a response to the rebuttal to Mr*** with the Revdex.com; it was completed last month. We have sent the response to the rebuttal to the customer along with a copy of her tax bills showing we are collecting the correct amounts

I am rejecting this response because: Sierra Pacific raised my mortgage payment by $(approximately) October of because they claimed my escrow balance was in shortage Now they send me a letter stating they are returning $to me However, they still anticipate a shortage in my escrow account and therefore my mortgage payment will increase by $(approximately) more than it was originally when we first received our loan How can my escrow be in shortage but yet they are refunding money to me This does not make any sense Sierra Pacific also states in their letter to me that they anticipate my taxes will increase in and therefore my payment will increase By their calculations I need to increase my escrow account by $for property taxes in the year The documentation I have from my assessor's office (which is my tax bill) does not indicate any increase

I am rejecting this response because: The only response that I have received from Sierra Pacific Mortgage stated that my impound account would be re-analyzed in February,
The information they are using to estimate my escrow amount is still incorrect They have not notified me that they have corrected their analysis The part of the analysis that is incorrect is in the amount of $2,which they claim is due in March of This is the amount they claim makes my escrow balance to be declared in shortage and therefore justifies the increase of $to my mortgage payment This amount was paid in Septof and it was a one time supplemental tax bill The amount due in March of is only $2,(approximate amount) At the current rate of escrow payments, my escrow balance will be approximately $6, Almost three times what is needed to meet my property tax amount due at that time

Borrower complaint about her escrow account on her loanA response has been sent to the customer regarding this matter

I am rejecting this response because:Sierra Pacific Mortgage has no documentation to support their escrow analysis.  That is the essence of my complaint against this company.  The documentation I have from the County Tax Assessor's office indicates that my property taxes are $5,636.00 per year.   The next installment due March 2015 is in the amount of $2,400 (approximate amount).  Therefore, their analysis of next installment payment due March 2015 of $4,624.00 is incorrect.  The company has not provided any documentation that supports their escrow analysis.  My complaint against the Sierra Pacific Mortgage is the lack of documentation to support their escrow analysis.  If there was a shortage in the escrow account, why is Sierra Pacific Mortgage issuing me a check for $1400 and continue to keep my payment at such a high amount.  Yes, they lowered the amount by $100, but it is still above what is needed to cover property taxes.   Until Sierra Pacific can provide documentation to support the increase, I am not accepting their explanation.

Our records indicate that we factually reported the history of this loan transaction to the credit bureaus relative to this customer.  The conversation log and history of the transaction indicates that we complied with required debt collection laws when attempting to contact the customer and in...

correspondence sent to the customer.  The mortgage payment was indeed paid > 30 calendar days after it was due. Separate correspondence has been sent to the customer regarding this matter.

The previous analysis that was performed on August 28, 2014 resulted in a shortage of $199.54. This shortage amount was never paid in  full by the borrower. This increased their monthly payment amount to $2,639.77, which was an increase of $191.37. This increase was effective with the October 2014 payment. At the time of this analysis, the tax installments were estimated at $4,127.95 each (two installments, one in November 2014 and one in March 2015). As previously stated, these installments were estimates as there was going to be an increase in taxes, per the county, but we would not know the adjusted figures until the billing statement was released in early November 2014. The most recent analysis was performed on December 12, 2014. This analysis resulted in a surplus of $1,412.42. Check number [redacted] for this amount was disbursed on December 15, 2014. In this analysis, the tax installments were decreased to $3,862.67 each (two installments, one in March 2015 and one is November 2015). This analysis lowered the borrower’s monthly payment amount to $2,577.59, effective with the February 2015 payment.

Paid $300+ to have a pool leak repaired. Pool started to leak about 3 weeks later. I called leak doctor and they said it was only a temporary fix. I told them the tech said " could hold six months, could hold 6 years". They said " oh that's just an expression" do you think if they said 2-3 weeks I would have put out over $300? I could have just added water. I don't think it would cost that much.

Review: I purchased a home back on July 3, 2014 taking out a mortgage with Sierra Pacific Mortgage company. I received a payment coupon on July 25th for my first payment due on 8/15/14. On 8/10/14 I sent a check from my girlfriends checking account since I do not have checks to make my first payment. The check was received by Sierra Pacific Mortgage and cashed on 8/15/14. In Sept. I got a call from Sierra Pacific stating that I was late one month on my mortgage and that I need to make two payments or they would start the foreclosure process if it was not received in the next 60 days. I explained to them that I had made my payment in August for July and that I was in the process making my August payment that day. I went on line and made the August payment on Sept 9th and was told that I should be all set. 20 days went by and I was contacted again about being late on my July payment. Once again I explained that I sent a check from my girlfriends account and that the check cleared on 8/15/14 and that I had a copy of the cleared check showing Sierra Pacific had the funds. Sierra instructed me to send a copy of the to them to [redacted] , which I did that day and was told it would be cleared up in a week. It is now 10/24/14 and this still hasn't been resolved and I also was forced to make two payments in Oct so my home didn't go into foreclosure. This needs to be resolved and I need my extra payment sent back to me. I need Revdex.com help I've gotten nowhere with is company. Please help!!!!Regards,[redacted]Desired Settlement: I want my extra payment sent back to me or applied to my upcoming November payment.

Review: SPM debited my checking account on 5 Sept 2013 and has not explained to me the reason why after numerous phone calls and emails to the company.

I have a mortgage with SPM loan # XXXXXXXXXX. On 5 Sept 2013 they ACH debited my checking account in the amount of 177.57. I have paid my mortgage on time and by paper check since I have been with the company. After 10+ phone calls and multiple emails, SPM still has not provided me an answer on why the debit had occurred. They have continually told me they have no record of the debit, even after I have provided them with bank statements and tracking numbers of the transaction.Desired Settlement: A refund of the money or an explanation on why the debit occurred.

Business

Response:

Initial Business Response

Contact Name and Title: [redacted]

Contact Phone: XXX-XXX-XXXX

Contact Email: [redacted]@spm1.com

We spoke with the customer on October 3, 2013. The documentation he provided indicates the source of the debit was Sierra Pacific Power Company, his electricity provider, not Sierra Pacific Mortgage Company, Inc.

Review: I had a slab leak which ruined my kitchen cabinets and wood floors. The insurance company issued a check for the repairs to me and Sierra Pacific. They insisted I sign over the entire amount of the repair disbursement but will only give me a portion of it upfront, another portion at 1/2 completion. 1/3 of the funds is not enough to pay for 1/2 of the project and they refused to give me any more. They took their time in getting the first disbursement to me. Now refuse to issue the 2nd disbursement without an inspection but wont order the inspection without further documentation from my insurance company which they didn't ask for upfront. Every time I call I get different information or wrong information from their reps, including their supervisors. I have talked to several other people in this situation and none of them had this experience with their lender. All of these so called rules and red tape I believe is purposeful so they can delay paying as long as possible and ride on the insurance money. Coupled with their incompetence has created an unacceptable situation. My contractor has had to take money out of his pocket to minimize the delays. I have had to take money out of my pocket and the delays continue. Dealing with Sierra Pacific has been an absolute nightmare. This is a complete disregard for their customer and I can't remember a time I have had worse customer service. All I want is my money so I can finish this job and get my house back.Desired Settlement: I want my money from them so I can finish my job. I want the entire remainder of the money not just another 1/3. Who is going to pay to complete the repair if they don't release 1/3 of the funds until it is finished? My contractor is livid. They will not front any more money. We are over 1/2 completed now. I need the full amount. I don't have the exact date I first contacted them but I have been contacting them since January 2016 regarding this project.

Review: Sierra Pacific Mortgage Company called me for a missed payment and refused to tell me who they were or Identify themselves - in addition to using a recorded. Automation system, therefore I would hang up. They did not send me a single correspondence regarding the matter until it was too late for my credit! They then bombarded me with financial help and aid letters and only then would they speak to me and identify themselves. I found out about the error in missed payment and made a double payment, spoke with customer service who assured me they would not report to the credit bureau and would note my file!! Lies!! Now 3 months later, They lied and deceived me and ruined my credit - they Refused to let me speak to a manager and were extremely rude to me multiple times. They have now given me a 30 Day late and I want it removed!!!Desired Settlement: Remove the 30 Day Late

Business

Response:

Our records indicate that we factually reported the history of this loan transaction to the credit bureaus relative to this customer. The conversation log and history of the transaction indicates that we complied with required debt collection laws when attempting to contact the customer and in correspondence sent to the customer. The mortgage payment was indeed paid > 30 calendar days after it was due. Separate correspondence has been sent to the customer regarding this matter.

Review: On September of 2014 Sierra Pacific Mortgage increased my escrow impound account to cover property taxes and hazard insurance by $191 per month. I have attempted to resolve this issue with the company through phone calls, emails, and letters to no avail. I have sent them a copy of my property tax and still this company refuses to adjust my payment. This has put an unnecessary burden on our budget. My property tax bill for the 2014-2015 tax year is 5,636.48. At the current rate my escrow impound account will have almost triple the amount needed to cover my tax bill. At this time, Sierra Pacific Mortgage has paid my property tax installment of $2,818. My escrow account has a balance of $3,679. The next installment is due March 2015. By that time my escrow account will have a balance of $6,707 at the new rate of collection. This almost three times the amount needed to cover my property tax bill of $2818. This company does not pay interest on the money they collect from me. They are using my money for their business purpose and not paying me for the use of my money. I would like my escrow payment to correctly reflect my property tax/hazard insurance amount.Desired Settlement: I want Sierra Pacific Mortgage to recalculate the escrow payment to correctly reflect what is needed for the tax/hazard insurance payment on my property. Charging me an amount that is almost triple what is needed for the tax bill on my property is a burden on my budget and using my money without paying me interest is an illegal tactic.

Business

Response:

Borrower complaint about her escrow account on her loan. A response has been sent to the customer regarding this matter.

Consumer

Response:

I am rejecting this response because: The only response that I have received from Sierra Pacific Mortgage stated that my impound account would be re-analyzed in February, 2015. The information they are using to estimate my escrow amount is still incorrect. They have not notified me that they have corrected their analysis. The part of the analysis that is incorrect is in the amount of $2,088. which they claim is due in March of 2015. This is the amount they claim makes my escrow balance to be declared in shortage and therefore justifies the increase of $191. to my mortgage payment. This amount was paid in Sept. of 2014 and it was a one time supplemental tax bill. The amount due in March of 2015 is only $2,400 (approximate amount). At the current rate of escrow payments, my escrow balance will be approximately $6,000.00. Almost three times what is needed to meet my property tax amount due at that time.

Business

Response:

The previous analysis that was performed on August 28, 2014 resulted in a shortage of $199.54. This shortage amount was never paid in full by the borrower. This increased their monthly payment amount to $2,639.77, which was an increase of $191.37. This increase was effective with the October 2014 payment. At the time of this analysis, the tax installments were estimated at $4,127.95 each (two installments, one in November 2014 and one in March 2015). As previously stated, these installments were estimates as there was going to be an increase in taxes, per the county, but we would not know the adjusted figures until the billing statement was released in early November 2014. The most recent analysis was performed on December 12, 2014. This analysis resulted in a surplus of $1,412.42. Check number [redacted] for this amount was disbursed on December 15, 2014. In this analysis, the tax installments were decreased to $3,862.67 each (two installments, one in March 2015 and one is November 2015). This analysis lowered the borrower’s monthly payment amount to $2,577.59, effective with the February 2015 payment.

Consumer

Response:

I am rejecting this response because:Sierra Pacific Mortgage has no documentation to support their escrow analysis. That is the essence of my complaint against this company. The documentation I have from the County Tax Assessor's office indicates that my property taxes are $5,636.00 per year. The next installment due March 2015 is in the amount of $2,400 (approximate amount). Therefore, their analysis of next installment payment due March 2015 of $4,624.00 is incorrect. The company has not provided any documentation that supports their escrow analysis. My complaint against the Sierra Pacific Mortgage is the lack of documentation to support their escrow analysis. If there was a shortage in the escrow account, why is Sierra Pacific Mortgage issuing me a check for $1400 and continue to keep my payment at such a high amount. Yes, they lowered the amount by $100, but it is still above what is needed to cover property taxes. Until Sierra Pacific can provide documentation to support the increase, I am not accepting their explanation.

Business

Response:

We have already filed a response to the rebuttal to Mr. [redacted] with the Revdex.com; it was completed last month. We have sent the response to the rebuttal to the customer along with a copy of her 2015 tax bills showing we are collecting the correct amounts.

Consumer

Response:

I am rejecting this response because: Sierra Pacific raised my mortgage payment by $200 (approximately) October of 2014 because they claimed my escrow balance was in shortage. Now they send me a letter stating they are returning $1400 to me. However, they still anticipate a shortage in my escrow account and therefore my mortgage payment will increase by $100 (approximately) more than it was originally when we first received our loan. How can my escrow be in shortage but yet they are refunding money to me. This does not make any sense. Sierra Pacific also states in their letter to me that they anticipate my taxes will increase in 2015 and therefore my payment will increase. By their calculations I need to increase my escrow account by $1200 for property taxes in the year 2015. The documentation I have from my assessor's office (which is my tax bill) does not indicate any increase.