Upgrad Personnel Service of Knoxville

Complaint: [redacted] I am rejecting this response because:This response DOES NOT ADEQUATELY ADDRESS my issues with SWBCThe letter I received states that SWBC will provide a final response to my concerns within DAYS!? What do I do in the mean time?? I have received a packet in the mail from a debt collector due to lack of paymentAt the same time, I received a letter from my local agent stating she needs more information regarding my application for a mortgage loan.? My agent won't talk to me (literally will not take my phone calls) because she has been instructed by Corporate Servicing to "not discuss my current loan status because of the discussions going on."? I spoke with a resolution analyst (Ms [redacted] id# [redacted] ) on 4/who instructed me to hold my questions for her, when she calls me back on 4/6.? Today is 4/17, she has not called me back.? I still have questions and NO ANSWERSI am furious with this company and the lack of follow through with what the representatives say they will do Regards, [redacted] ?

Please note - this complaint is not regarding SWBC Mortgage Corporation - the consumer does not have and has not applied for a mortgage with SWBC Mortgage Corporation Please direct all inquiries regarding the status of this complaint to the Compliance Department for SWBC at [email protected] so that they can respond accordingly

We are unable to share details of the complainant's account with teh Revdex.com as this is personal identifiable information As such, we are addressing this complaint directly in a letter to the borrower, which will be mailed to the address of record today

Please find below the SWBC response to above referenced complaint Please let me know of anything further that is needed Thank you Resolution: SWBC contacted the underlying carrier and was told to send in revised documentation and the change would be processed within – hours SWBC e-mailed the original application, along with a hand written note requesting the effective date change for both the – and – policies, and SWBC has subsequently confirmed that the policy dates have been changed and the revised policy was mailed to the insured on 10/2/ [redacted]

The original complaint was received from the Revdex.com on November 21, 2017.? A response was mailed to the consumer on December 12, 2017.? The consumer indicated on December 15, 2017, that she was not satisfied with the response; a representative spoke with the consumer on December 20, 2017, to further explain the status of the loan.? A formal letter of explanation was sent to the consumer on December 21, 2017.? In response to the most recent notification that the consumer has not received the previously provided information, the response and supporting documents have been sent to the consumer via [redacted] on January 17, 2018; the package is scheduled to be delivered on January 18, 2018.? We hope this satisfactorily explains the status of the loan and resolves the consumer's concerns

Dear Sir or Madam:We have received your correspondence dated March I l 2018, pertaining to the above referenced caseWe understand the borrowers' concerns and take this matter seriouslyWe have conducted a thorough review of the circumstances cited in this caseUnfortunatelywe are unable to share details of these complainants' account with the Revdex.com as this is personal financial informationAs such, we are addressing this complaint directly in a letter to the borrowerThis letter will be mailed to the borrower at the address of record todayWe trust this response has adequately addressed the issues contained in their complaint.Should you have any questions regarding this matter, please contact me at [redacted] .Sincerely,

SWBC administers the GAP program on behalf of the carrier for [redacted] *** On 3/26/15, the borrower elected GAP coverage on the vehicle securing the loan On 5/18/17, SWBC received claim documents outlining the loss, but the claim did not include a calculation of the primary insurance payment, which is required under the GAP waiver SWBC contacted the primary insurance carrier who confirmed that the loss was due to wear and tear and/or mechanical breakdown, which is an excluded peril under their policy Therefore, there was no primary insurance coverage The “GAP Amount” in the waiver is calculated based on the primary insurance payment for physical damage for a theft or total loss Since there was no primary insurance coverage for physical damage, there was no GAP amount to pay the borrower Under “Installment Sales Contract/Loan/Lease GAP Waiver Addendum” in the borrower waiver agreement, it reads “If the collateral is not protected by primary insurance, we will waive only the GAP amount obtained by subtracting the Actual Cash Value of the covered collateral from the unpaid net balance and you will remain responsible for the Actual Cash Value of the collateral” Since the Actual Cash Value of the vehicle was $8,985, as determined by the primary carrier, and the unpaid net balance was $8,282.86, the borrower is not entitled to payment under the uncovered loss provision of the waiver The GAP insurance carrier has confirmed denial of the claim after re-reviewing the file per the borrower’s request

According to our records, the loan was paid in full as of June 11, Once the loan paid in full, a final reconciliation of the escrow account was initiated On July 3, 2015, the escrow balance was released to the address of record in the amount of $3,We note in Mr ***’s complaint that he no longer resided at the property address and that an alternate mailing address was provided at closing Please note: the alternate mailing address was provided to Mr***’s title company We have no record of the third party providing us with the updated address; as a result, the check was disbursed to the address on file Our records indicate on July 13, 2015, Mr [redacted] contacted our Customer Service Department regarding the status of the refund request Our agent advised Mr [redacted] that he had to wait two weeks before the check could be stopped and reissued This is not our process and we regret the misinformation Mr [redacted] received On July 19, 2015, we initiated the process to reissue the escrow check to the new mailing address provided by Mr*** Please allow 7-business days for receipt of the paymentSince we were provided with a P.OBox as Mr***’s preferred mailing address, we were unable to expedite the request via overnight mail Additionally, we do not offer electronic deposit as a method of refunding a borrower’s escrow balance at this timeWe apologize for any inconvenience this may have caused Mr***We have utilized this situation as a coaching opportunity to enhance our customer service skills as his experience is not indicative of the level of service we strive to provide

According to our records, the loan originated on November 21, 2014, at which time an escrow account was established for the payment of real estate property taxes and homeowner’s insurance As evidenced by the Settlement Statement (“HUD-1”) executed at closing, property taxes were estimated in the yearly amount of $2,372.52, and the first year’s homeowner’s insurance premium was $1, These figures were utilized in the designation of the original monthly payment amount of $1,The Real Estate Settlement Procedures Act (“RESPA”) requires that we perform an annual review of a borrower’s escrow account The first yearly scheduled analysis for the loan occurred on June 22, This analysis included the anticipated yearly disbursement amounts of $2,for taxes and $1,for homeowner’s insurance, and the monthly payment amount was adjusted to $1, Disbursements for the payment of taxes were issued in the amounts of $1,and $1,on October 7, and May 2, respectively Upon disbursement, our records are updated to retain the amount paid as the anticipated disbursement for the following year They yearly escrow analysis completed on June 13, identified a shortage of $4,995.02, due to taxes having been disbursed in a higher amount than previously anticipated Spread over twelve installments, this shortage resulted in the new monthly payment amount of $1,effective with the August installment On December 29, 2016, the amount of $3,was disbursed for payment of the homeowner’s insurance premium On March 16, 2017, our office received a mid-term replacement of the borrower's preferred homeowner’s insurance policy, and the premium of $1,was disbursed for the new policy the same day A letter dated March 17, was sent to the borrower advising that multiple disbursements for homeowner’s insurance premium had been disbursed within the year, which may result in a shortage if the refund from the previous policy was not returned to escrow A payment of $1,was applied to the escrow account on March 27, In accordance with the borrower's request, an escrow analysis was conducted on April 12, 2017, which identified an overage of $179.46, and which adjusted the monthly payment amount to $1,288.30, effective with the June installment The lesser monthly payment amount reflects a reduction in the anticipated disbursement amounts for both taxes and insurance, based on the most recent payments made for these items The overage amount was returned to the borrower by check number along with an Annual Escrow Account Disclosure Statement Upon review, we have identified no errors with the analyzing of MsBink’s escrow account and subsequent adjustments to the monthly payment amount We thank MsBink for bringing her concerns to our attention, and we look forward to the continued servicing of her loan

SWBC administers the GAP program on behalf of the carrier for [redacted] ***.? On 3/26/15, the borrower elected GAP coverage on the vehicle securing the loan.? On 5/18/17, SWBC received claim documents outlining the loss, but the claim did not include a calculation of the primary insurance payment, which is required under the GAP waiver.? SWBC contacted the primary insurance carrier who confirmed that the loss was due to wear and tear and/or mechanical breakdown, which is an excluded peril under their policy.? Therefore, there was no primary insurance coverage.? ? The “GAP Amount” in the waiver is calculated based on the primary insurance payment for physical damage for a theft or total loss.? Since there was no primary insurance coverage for physical damage, there was no GAP amount to pay the borrower.? ? Under “Installment Sales Contract/Loan/Lease GAP Waiver Addendum” in the borrower waiver agreement, it reads “If the collateral is not protected by primary insurance, we will waive only the GAP amount obtained by subtracting the Actual Cash Value of the covered collateral from the unpaid net balance and you will remain responsible for the Actual Cash Value of the collateral”.? Since the Actual Cash Value of the vehicle was $8,985, as determined by the primary carrier, and the unpaid net balance was $8,282.86, the borrower is not entitled to payment under the uncovered loss provision of the waiver.? ? The GAP insurance carrier has confirmed denial of the claim after re-reviewing the file per the borrower’s request ?

We have received your correspondence dated April 27, 2018, pertaining to Ms [redacted] ’ case.? ? We understand the borrower’s concerns and take this matter seriously.? We have conducted a thorough review of the circumstances cited in this case? Unfortunately, we are unable to share details of this complainant’s account with the Revdex.com as this is personal financial information.? As such, we are addressing this complaint directly in a letter to the borrower.? This letter will be mailed to the borrower at the address of record todayWe trust this response has adequately addressed the issues contained in their complaint ?

Southwest Business Corporation (SWBC) administers debt cancellation claims on behalf of [redacted] ***SWBC normally processes these claims initiated by the lender ( [redacted] ) rather than working directly with borrowers at the onset, which resulted in confusion regarding this customer’s claimWe have since received and reviewed the loan and claim file, and have approved the customer’s claimTherefore, two monthly payments will be forwarded to [redacted] on the customer’s behalf and we will be sending the customer a continuing claim formUpon completion of the continuing claim form, the customer will be entitled to continuing benefits so long as the customer is unemployed, up to the maximum benefit limit We apologize for the customer’s frustration and for any confusion caused by SWBC

Please note - this complaint is not regarding SWBC Mortgage Corporation - the consumer does not have and has not applied for a mortgage with SWBC Mortgage Corporation? Please direct all inquiries regarding the status of this complaint to the Compliance Department for SWBC at [email protected] so that they can respond accordingly

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

We have received your correspondence dated January 3, 2018, pertaining to Case Number [redacted] .? We understand the borrower’s concerns and take this matter seriously.? We have conducted a thorough review of the circumstances cited in this case? Unfortunately, we are unable to share details of this complainant’s account with the Revdex.com as this is personal financial information.? As such, we are addressing this complaint directly in a letter to the borrower.? This letter will be mailed to the borrower at the address of record todayWe trust this response has adequately addressed the issues contained in their complaint

This complaint is not a mortgage service related complaint? Please send the complaint to? [redacted] so that she may contact the appropriate division for a response and upload it once available? Thank you!

Complaint: [redacted] I am rejecting this response because:This response DOES NOT ADEQUATELY ADDRESS my issues with SWBCThe letter I received states that SWBC will provide a final response to my concerns within DAYS! What do I do in the mean time? I have received a packet in the mail from a debt collector due to lack of paymentAt the same time, I received a letter from my local agent stating she needs more information regarding my application for a mortgage loan My agent won't talk to me (literally will not take my phone calls) because she has been instructed by Corporate Servicing to "not discuss my current loan status because of the discussions going on." I spoke with a resolution analyst (Ms [redacted] id# [redacted] ) on 4/who instructed me to hold my questions for her, when she calls me back on 4/ Today is 4/17, she has not called me back I still have questions and NO ANSWERSI am furious with this company and the lack of follow through with what the representatives say they will do Regards, [redacted]

Although the borrower’s situation is unfortunate, the waiver clearly requires a physical loss or theft that is covered by primary insurance on the vehicle in order to calculate the “GAP Amount.” Furthermore, the borrower’s vehicle suffered a mechanical breakdown, which is never covered by collision and/or comprehensive insurance, and the Borrower’s primary carrier has confirmed that there was no insurance coverage on this lossHowever, mechanical breakdown insurance is available in every state and is often purchased by borrowers in order to guard against this type of event It goes without saying that the GAP Waiver is not an insurance policy, nor does it cover mechanical breakdownsThe GAP Waiver is merely an agreement by the lender to waive the “GAP Amount” in cases of physical damage or theft of the vehicleThe borrower seems to be under the impression that the GAP Waiver is an insurance policy, which it is notIn fact, the borrower certified the following: “I understand that this GAP Waiver Addendum is not an offer of insurance coverage.” At the bottom of the GAP Waiver in bold uppercase type is the following “YOU ARE REMINDED THAT THIS WAIVER IS NOT AN INSURANCE POLICY” Moreover, the borrower agreed that any payment under the GAP Waiver would be limited to the “GAP Amount,” which is defined as “the difference between the primary carrier’s physical damage insurance payment for a theft or total loss or, if uninsured, the collateral’s Actual Cash Value, and the unpaid net balance of the loan.” Since there was no insurance payment, the default “GAP Amount” would equal the unpaid net balance of the loan less the Actual Cash ValueBecause it has been explained that the ACV was higher than the unpaid net balance of the loan, there is no GAP Amount for the borrower to receive Finally, the borrower erroneously states that his/her primary insurance carrier deemed the vehicle a “total loss.” This is flatly untrueThe borrower’s primary carrier did not cover the peril and made no such determinationThe carrier merely provided the borrower with a statement that, if the vehicle had been covered under the policy, then the vehicle would have been deemed a total lossAgain, there was no primary coverage for the loss and therefore no way for the carrier to deem the vehicle a total loss We apologize for the inconvenience, but the GAP Waiver is not an insurance policy and does not cover mechanical breakdowns

Although the borrower’s situation is unfortunate, the waiver clearly requires a physical loss or theft that is covered by primary insurance on the vehicle in order to calculate the “GAP Amount.” Furthermore, the borrower’s vehicle suffered a mechanical breakdown, which is never covered by collision and/or comprehensive insurance, and the Borrower’s primary carrier has confirmed that there was no insurance coverage on this lossHowever, mechanical breakdown insurance is available in every state and is often purchased by borrowers in order to guard against this type of event
It goes without saying that the GAP Waiver is not an insurance policy, nor does it cover mechanical breakdownsThe GAP Waiver is merely an agreement by the lender to waive the “GAP Amount” in cases of physical damage or theft of the vehicleThe borrower seems to be under the impression that the GAP Waiver is an insurance policy, which it is notIn fact, the borrower certified the following: “I understand that this GAP Waiver Addendum is not an offer of insurance coverage.” At the bottom of the GAP Waiver in bold uppercase type is the following “YOU ARE REMINDED THAT THIS WAIVER IS NOT AN INSURANCE POLICY”
Moreover, the borrower agreed that any payment under the GAP Waiver would be limited to the “GAP Amount,” which is defined as “the difference between the primary carrier’s physical damage insurance payment for a theft or total loss or, if uninsured, the collateral’s Actual Cash Value, and the unpaid net balance of the loan.” Since there was no insurance payment, the default “GAP Amount” would equal the unpaid net balance of the loan less the Actual Cash ValueBecause it has been explained that the ACV was higher than the unpaid net balance of the loan, there is no GAP Amount for the borrower to receive
Finally, the borrower erroneously states that his/her primary insurance carrier deemed the vehicle a “total loss.” This is flatly untrueThe borrower’s primary carrier did not cover the peril and made no such determinationThe carrier merely provided the borrower with a statement that, if the vehicle had been covered under the policy, then the vehicle would have been deemed a total lossAgain, there was no primary coverage for the loss and therefore no way for the carrier to deem the vehicle a total loss
We apologize for the inconvenience, but the GAP Waiver is not an insurance policy and does not cover mechanical breakdowns

Subject: Resolved The issue I complained about resolved seems to have been resolvedI finally got them on the phone