UW Credit Union

https://www.uwcu.org/loans/home-loans/home-loan-offers/fthb/
This 1st time homebuyer discount is very shady and prey on vulnerable customers (1st time home buyers that are unfamiliar with mortgages, Lender Credits, Seller Credits etc).
My complaints:
1. I have email conversation with Loan officer referring to the $1K Discount as Lender Credit so me being a vulnerable customer believed that this Discount is as good as Lender Credit. (I learned later that it is not as good because Lender has obligation to return the value of excess Lender Credit if not used to pay for Closing Costs, while the Discount is not)
2. I believe Loan officer was malicious and has intent to deceive because I inquired why I am not getting Discount about 1 week before Closing Date but he avoided the question even though he already possess enough information that I will not be getting any Discount. I still assumed good faith transaction so I believed I am getting some Discount, but it turns out I got ZERO Discount and I was robbed the time & opportunity to rectify the situation and explore my other options.
3. Up until now the Loan officer still claims that they gave me some small amount of 1st time Homebuyer Discount even though the Closing Disclosure clearly show I got ZERO.
4. There is no mention in the website link that Discount will only be applied after all Lender/Seller Credits are exhausted. At the very least it is misleading or confusing. I believe Discount should be applied first in favor of customer as their advertisement is not clear.
No warning at all that too much Seller Credits or Lender Credits will risk getting lower or zero Discount.

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this does not resolve my complaint For your reference, details of the offer I reviewed appear below [To assist us in bringing this matter to a close, we would like to know your view on the matter.]The bank said they have sent multiple letters to both borrowers, but I never received any of them I have provided the bank my current address, phone number and email along with a letter I sent them, so I do not understand why I never received any of the letters unless they only have sent them to my ex-husband's address They also mentioned that it was against my divorce agreement to submit loan modification on my own and needed to seek legal counsel If there are any legal consequences from my loan modification application, I would take the bank to court because they were the ones who told me it was OK to submit the application on my own I would never do this if I know all these effort would yield nothing It was easy for them to say they gave me the wrong information over the phone, but there is no way I will take on the consequences of their mistake and irresponsibility Regards, [redacted] **

This letter is to respond to the Revdex.com complaint received by the credit union regarding a dispute with a member stemming from the member's desire to remove Private Mortgage Insurance (PMI) from her home loan The member's specific home loan was consummated with the understanding that the loan would be made for sale as a conventional mortgage loan and sold to Fannie Mae The credit union participates in this secondary market for home loans because it allows the credit union to offer lower rates to members and create liquidity to serve more members However, to participate in this type of mortgage program we must adhere to the Fannie Mae guidelines for the pricing and removal of PMI Those guidelines require that we obtain a new appraisal for the home from an independent appraisal service While we accept payment for the appraisal we utilize a third party company to review local appaisers qualifications and assign appraisals to qualified individuals on a random basis In this way the appraisal is independent because neither the borrower nor the credit union selects the individual appraiser While this process may seem cumbersome, it is designed to maintain the indepent appraisal requirements of the Fannie Mae program The member also descibed obtaining inconsistent information related to the subject from our mortgage servicers After receiving this complaint we reviewed the calls and determined that the service agent on the first call did not provide incorrect information The review of the second call concludes with the manager correcting the original mistake While it appears the member eventually received the correct information, we do not feel this experience reflects the level of service we intend to provide to our members and we appologize The service representatives involved will receive retaining on this subject to avoid this problem in the future In reviewing the file it appears at the time of our investigation that the appraisal for the member's home has been ordered from the third party provide but has not yet taken place If the member has any additional questions or concerns, she should not hesitate to contact us at 608-232-5000.Thanks,

This letter is to respond to the Revdex.com complaint received by the credit union regarding a dispute with a member stemming from the member's desire to apply for a mortgage loan modification. It appears that the member believed that she could apply for the loan modification without her co-borrower
providing financial information. We apologize for this misunderstanding, but at the time the member was inquiring about the loan modification, her ex-husband was the co-borrower on the home and a co-owner. As a result, we needed financial information and additional documentation from both borrowers to complete the application. In reviewing the loan file we provided letters on 9-8-16, 10-5-and 11-11-informing both borrowers of the information required to complete their loan modification application. Additionally, we sent a letter to both borrowers on 1-9-indicating the options available to them if they are experiencing financial hardship and encouraged them to contact us Finally, in reviewing the contact log associated with their account, our contact center communicated with both borrowers and indicated which documents were still required to complete the loan modification agreement. Unfortunately, the borrowers did not provide the required documentation and the loan modification application was denied as a result. We would be happy to consult with the member on the options that are still available for possible loan modifications for which she qualifies. I encourage the member to contact us at our mortgage servicing department at 866-912- We will work with both parties if they are interested in reapplying, however if the member’s ex-husband failure to engage in the application process is in violation of a divorce agreement or court order she may have to contact her attorney for advice on how to proceed. Regards, *** ***
Chief Legal Officer *** ***
Chief Legal Officer & Assistant Corporate Secretary University Ave., Madison 608-232-9000, ext2050800-533-(toll-free)608-622-(mobile)608-316-(fax)[email protected] www.uwcu.org

This letter is to respond to the follow up questions related to the Revdex.com complaint received by the credit union regarding a dispute with a member stemming from the member's desire to remove Private Mortgage Insurance (PMI) from a first mortgage loan. I will address those questions individually below: What are the appraisal requirements what credentials does the appraiser need? At a minimum, Fannie Mae requires that the appraiser be licensed or certified by the state in which the property to be appraised is located. In addition, UW Credit Union utilizes a third-party appraisal management company which maintains a list of qualified appraisers and monitors their appraisal work for completeness, timeliness, and cost. Why I am I required to go through UW Credit Union for the appraiser? Why can’t I use an independently licensed 3rd party appraiser of my choosing? For borrower-initiated private mortgage insurance cancellation, the Fannie Mae Servicing Guide states that “To determine the current appraised value of the property, the servicer must select an appraiser, order a new appraisal (which must be based on an inspection of both the interior and exterior of the property and be prepared in accordance with our appraisal standards for new mortgage originations) and receive the results of the appraisal.” In this case, UW Credit Union is the servicer of the mortgage so the credit union is required to select the appraiser. To increase the independence of the appraisal, UW Credit Union utilizes a third-party appraisal management company to select the appraiser on the credit union’s behalf. The letter sent by UW Credit Union indicated that the appraisal fee was an “estimate” and that a refund will be sent if the appraisal was less than the estimate. How is the estimate determined? How will I know the final cost of my appraisal? The appraisal estimate is determined by the credit union’s appraisal management company based on the average appraisal fee charged by their list of qualified appraisers for type, size and location of the property to be appraised. In this case, the appraisal fee equaled the appraisal estimate. The member was made aware of the outcome of the appraisal via secure message in web branch on May 19th, and will also receive this information via a letter to the member’s home address The appraisal fee is normally equal to the estimate, but the appraisal fee can vary based on unexpected occurrences such as the addition of out buildings on the property, unexpected property types, or the appraiser needing to make a second trip to the property because he or she was not able to gain access to the interior. I hope these answers adequately respond to the member’s follow up questions. If the member has additional questions or concerns, I encourage the member to contact our Mortgage Servicing Manager directly at 608-232-ex2474. *** ***
Chief Legal Officer & Assistant Corporate Secretary University Ave., Madison 608-232-9000, ext2050800-533-(toll-free)608-316-(fax)[email protected] www.uwcu.org

This letter is to respond to the follow up Revdex.com complaint received by the credit union regarding a member’s mortgage loan modification agreement. As we stated in the previous response, the member is a co-borrower with an ex-spouse and we did not receive the requested financial information from the ex-spouse to complete a loan modification application. In the follow up complaint the member contends that she did not receive the written communications regarding the missing documentation. Our records indicate that the mailing address for the mortgage loan account was changed on June 1st, to an address in Brookfield, Wisconsin The written communications described in the previous response were sent to the mortgage loan address on fileThe member should take care to determine if she has changed her mailing address on her sole deposit accounts, but may not have changed the address on the joint mortgage account. The member can confirm the whether the address on file is correct by contacting the mortgage servicing department at the contact number below. While we cannot determine whether the member received written communications at the address on file for the mortgage loan, the mortgage loan servicing department did also speak with the member via telephone regarding the documentation that was missing from the loan modification agreement. As a result, the member did have knowledge of the documentation that was needed to complete the application. I certainly sympathize with the member if her co-borrower is not cooperating with the loan modification application. We would be happy to consult with the member on the options that are still available for possible loan modifications for which she qualifies. I encourage the member to contact us at our mortgage servicing department at 866-912-4871. Regards, *** ***
Chief Legal Officer

We are in receipt of complaint # ***, dated May 12, regarding a member’s request to have thePrivate Mortgage Insurance removed on her home loan.The member’s loan is backed by the Federal National Mortgage Association (FNMA), UW Credit Union isrequired to follow FNMA guidelines in regard to
the removal of PMIThe requirements that need to be metin order for PMI to be removed were sent to the member in communications dated October 28, andMarch 2, These packages advised of the necessity of an appraisal in any borrower-initiatedcancellation process and included an estimated list of appraisal costs.Currently, the loan-to-original-value ratio (LTOV) is higher than needed for removal In order to have PMIremoved by LTOV, the LTOV needs to be at 80% or lower and an appraisal needs to be conducted thatdemonstrate that the property has maintained at least its original valueIn this case, LTOV is based on thepurchase priceSince the appraisal completed on May 5, yielded a value of lower and the LTOV ishigher than 80% the loan did not qualify for PMI removal.Appraisals are ordered through an independent third party company, ServiceLinkThis company then selectsan appraiser based on availability and localityWe do not select the appraiser, nor do we influence theoutcome of the appraisal in any way.If a dispute of the appraisal is requested, it does need to be in writing from the memberThis dispute,including up to five properties that the borrower feels better compare to the property, can be sent to thefollowing address:ATTN: Escrow DepartmentCorporate Drive, Suite 360Lake Zurich, IL 60047-8945Fax: 1-847-574-

Please accept the following as response to Revdex.com complaint ID *** regarding the difficulties you have had in receiving your tax statement for your mortgage loan with UW Credit Union. After receiving your complaint we determined that your form was mailed via U.Smail on January
22nd, 2018, to your address on file which matches the address associated with this Revdex.com complaint. It also appears that you contacted UW Credit Union through secure messaging on Web Branch on February 1, 2018. The Member Solutions Team responded the next day February 2, stating the mortgage tax statements are mailed from our mortgage servicer by January 31, and that it would arrive in a plain white envelope that does not contain our logoWe also stated that the mortgage form will also be available online through Web Branch within the first week of February. You again contacted us through secure messaging on Web Branch on February 4th, stating that you had still not received the form. We responded the next day on February 5, stating that the document was available via Web Branch and provided instructions on how to access the document. I hope that you have been able to access the document via Web Branch since you submitted the complaint to Revdex.com. If you require additional assistance to access the document please call our contact center at 608-232-9000. *** ***
Chief Legal Officer & Assistant Corporate Secretary University Ave., [email protected] www.uwcu.org

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this does not resolve my complaint. For your reference, details of the offer I reviewed appear below
[We appreciate the response from UW credit union, however we do not feel their proposal is adequate. It would require stretching out our complaint over months, during which time we would still be required to pay PMI we don't believe we are responsible for, without knowing how the resolution will unfold.We have received a much more appropriate appraisal from a different credit union & have decided to refinance our mortgage and move all of our banking services out of UWCU.]
Regards,
*** ***

Please find attached UW Credit Union's response to complaint case #*** submitted to your office on June 2, 2015. We have investigated Ms***' complaint and based on additional communication with Ms*** following her complaint submission we feel this issue has been resolved.If you
have any further questions please do not hesitate to contact me directly. Also, if you could please confirm receipt of this email.Thank you ***.Regards,*** ***Vice President of Retail Delivery*** *** *** ***
*** *** ***
*** ***
*** ***
***
***

This e-mail is to respond to the Revdex.com complaint received by the credit union regarding a dispute with a member who complained of the Credit Union debiting his deposit account to pay for a past due credit card.   The member contacted the credit union via email on February 14, 2018 regarding...

the same issue.   We contacted the member via telephone on the next day and believe we have resolved the issue mentioned in the complaint.   Nonetheless, we have provided some key points of information below regarding the complaint. The complaint centers around the member’s credit card account with the credit union that went past due on 09/22/17.  The credit union provided the member  two letters informing him of the past due account on 09/27/17 and 10/10/17.  As the member had previously informed us that he did not want to be contact via phone, the credit union emailed the member on 10/27/17 to inform him that his account was 30 days past due on 10/27/17, and again on 11/06/17.  The credit union then sent him a right to cure default letter on 12/01/17. Finally, the credit union provided additional notice letters on 12/21/17 and 01/05/18. On 01/12/18, the credit union  sent a letter stating that his account was going to an outside collection agency and his deposit accounts would be closed unless he contacted us to set up payment arrangements.  In accordance with the member’s credit card account agreement and the membership agreement, the credit union debited the member’s account to satisfy the past due amount.   On 2/15/17 the member contacted the credit union and successfully set up a payment plan for the outstanding balance and the credit union refunded a portion of the amount debited from the member’s account.   As mentioned above, the credit union believes the compliant has been resolved to the member’s satisfaction shortly after the complaint was made directly to the credit union.   If the member has additional questions or concerns we encourage the member to contact the member solutions center at 608-232-9000 and ask to speak to our collections department. Regards,  [redacted] 
Chief Legal Officer & Assistant Corporate Secretary 3500 University Ave., [email protected] www.uwcu.org

This e-mail is to respond to the Revdex.com complaint received by the credit union regarding a dispute with a member who claims that he has deposited a check to his account with the credit union and that account has not yet been credited.  An investigation into our records show that the individual was...

a member of UW Credit Union, and that his accounts were closed in April, 2016, well before the former member claims to have deposited his check. We have no record of any recent attempt to deposit a cashier’s check at UW Credit Union during the timeframe provided in the complaint. Similarly, we have no record of the member talking to us on 1/2/18, 1/3/18, or 1/4/18 as is called out in the complaint. The member states that he ”was given paperwork that the deposit was successful”. If this paperwork could be provided to UW Credit Union, it may help us in understanding this situation more clearly. Information on which branch the member made this deposit, or names of the individuals he spoke to could also aid us to more fully respond to the member’s complaint.   I encourage the member to contact our member solutions center at 1-800-533-6773 to provide any additional information about his deposit.  Thank you , Jon   [redacted] Chief Legal Officer & Assistant Corporate Secretary 3500 University Ave., Madison 608-232-9000www.uwcu.org

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
[To assist us in bringing this matter to a close, we would like to know your view on the matter.]The bank said they have sent multiple letters to both borrowers, but I never received any of them.  I have provided the bank my current address, phone number and email along with a letter I sent them, so I do not understand why I never received any of the letters unless they only have sent them to my ex-husband's address.  They also mentioned that it was against my divorce agreement to submit loan modification on my own and needed to seek legal counsel.  If there are any legal consequences from my loan modification application, I would take the bank to court because they were the ones who told me it was OK to submit the application on my own.  I would never do this if I know all these effort would yield nothing.  It was easy for them to say they gave me the wrong information over the phone, but there is no way I will take on the consequences of their mistake and irresponsibility.  
Regards,
[redacted]

This letter is to respond to the Revdex.com complaint received by the credit union regarding a dispute with a member stemming from the member's desire to remove Private Mortgage Insurance (PMI) from her home loan.   The member's specific home loan was consummated with the understanding that the...

loan would be made for sale as a conventional mortgage loan and sold to Fannie Mae.  The credit union participates in this secondary market for home loans because it allows the credit union to offer lower rates to members and create liquidity to serve more members.   However, to participate in this type of mortgage program we must adhere to the Fannie Mae guidelines for the pricing and removal of PMI.   Those guidelines require that we obtain a new appraisal for the home from an independent appraisal service.   While we accept payment for the appraisal we utilize a third party company to review local appaisers qualifications and assign appraisals to qualified individuals on a random basis.   In this way the appraisal is independent because neither the borrower nor the credit union selects the individual appraiser.   While this process may seem cumbersome, it is designed to maintain the indepent appraisal requirements of the Fannie Mae program.  The member also descibed obtaining inconsistent information related to the subject from our mortgage servicers.   After receiving this complaint we reviewed the calls and determined that the service agent on the first call did not provide incorrect information.   The review of the second call concludes with the manager correcting the original mistake.   While it appears the member eventually received the correct information, we do not feel this experience reflects the level of service we intend to provide to our members and we appologize.   The service representatives involved will receive retaining on this subject to avoid this problem in the future.  In reviewing the file it appears at the time of our investigation that the appraisal for the member's home has been ordered from the third party provide but has not yet taken place.   If the member has any additional questions or concerns, she should not hesitate to contact us at 608-232-5000.Thanks,

Please accept the following as response to Revdex.com complaint ID [redacted] regarding a consumer dispute related to the collection of past due loan accounts and an overdrawn checking account. UW Credit Union maintains that it acted in good faith and within its rights to collect debts according to our...

Membership Service Agreement with Ms. [redacted].  In August of 2016, the credit union charged off two of Ms. [redacted] loan accounts:  • $200.38 for a Paycheck Advance Loan (at the time, 159 days past due) and• $852.01 for a Credit Card Loan  (at the time, 120 days past due) Prior to this action, UW Credit Union made 8 phone calls and sent four letters, including the Right to Cure Default Notice to alert Ms. [redacted] that the accounts were going to be charged off and her checking/savings accounts would be frozen due to her failure to pay the past due amounts.    On November 10, 2016, funds were deposited in the member’s checking account.  Per the Membership and Account Agreement with Ms. [redacted], the deposit was used to offset the following debts: ·         $340.43 to cover the negative balance in the checking account;  ·         $142.00 to pay off an active reserve line of credit which was then 117 days past due; and·         $235.77 to pay off the Paycheck Advance Loan and collection costs After collecting these amounts, Ms. [redacted] called the credit union’s collections department and the staff explained that the collection from the deposit was in accordance with the Membership and Account Agreement and was to offset past due debts.  Currently, Ms. [redacted] credit card debt has been referred to a third party debt collector, the Northland Group.   If Ms. [redacted] wishes to set up payment arrangements, she can contact the agency directly at 1-866-720-0815.  If Ms. [redacted] has any further questions about this complaint she may contact the credit union’s collections department by calling 1-800-533-6773  ex.  2285.   [redacted] 
Chief Legal Officer & Assistant Corporate Secretary 3500 University Ave., Madison [email protected] www.uwcu.org

Upon receiving the above referenced complaint by our member we attempted to call the member on Thursday, April 21, however no voicemail was available. Per the member’s request, his accounts with UW Credit Union have been closed. As a courtesy, we have refunded all fees since notifying him of...

the changes to our account fee structure on July 1, 2016. He will be receiving a check with the funds from his accounts. The complaint stems from a restructuring of the member services which qualify for free checking accounts and UW Credit Union.   These changes were made in accordance to our member services agreement.   Below is a list of notices we provided to the member regarding these changes, which included either records or explanations of fees incurred. 7/1/16 – Notice to member via email on record, including an explanation of our upcoming changes to our qualifying services structure, and fees that may be incurred according to the services you are using.8/1/16 – Second notice to member via email on record, informing of upcoming changes.9/1/16 – 4/17/171 Overdraft Notice6 Payment Due Notices for Reserve Line of Credit8 Statements, indicating account activity2 Low Balance Alerts1/9/17 – Response to his secure message, including a detailed explanation of fees incurred, guidance for how to avoid fees, and a refund of fees. The member also requested that we review his credit report for inaccuracies.   We undertook an investigation of his credit report and found no errors.  We sent a letter to the member on April 24th, detailing the steps that have been summarized above.   If the member has additional questions or concerns we invite him to respond to the contact information provided in the letter. Regards,   [redacted] 
[redacted] 
[redacted] 
[redacted] 
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.I understand that because UW Credit Union has sold my home loan to a third party (Fannie Mae) that certain requirements need to be met in order to change the conditions, including eliminate the PMI on the load.  However, the question of what those requirements are could not be answered by the UW Credit Union Staff.  They still have not been answered.  What are the appraisal requirements, what credentials does the appraiser need?  Why am I required to go through UW Credit Union for the appraiser?  Why can't I use an independently licensed 3rd party appraiser of my choosing?  If I choose an independently licensed 3rd party appraiser of my choosing, what credentials, certifications, criteria are required of this appraiser?  The letter sent by UW Credit Union indicated that the appraisal fee was an "estimate" and that a refund will be sent if the appraisal cost was less than the estimate.  How is this estimate determined?  How will I know the final cost of my appraisal?  What is the process for receiving my refund?  Please answer these questions thoroughly.
Regards,
[redacted]

Review: 4 months ago I Lost my job and I could not pay my bills, but a month ago I got my old job back, my bank uw credit union and I finally spoke about my over due bill and how I'm going take care of them, anyways my fist pay check they set off to PCA, so I didn't have a pay check for 2 weeks, my second pay check I couldn't get cause they locked my account so I went to bank Spoke to their collection officer and he dairly apologized for his mistake cause I promis I will make payments, which I did and everything was good, third paycheck I didn't pay anything to my account cause their monthly payments, today I got paid 1121$ and they set off my entire paycheck to PAC and let 50$ in my account before I could even make payments. I call the collection office and they said too bad you broke my agreement which I didn't. I promised to make monthly payments. Now I can't get to work or survive for this 2 weeks. Also the collection officer was completely rude saying things like "your not the only person I have to deal with this morning so can I call back Monday to speak to Doug the other collection officer and " I make my bills on time so I don't have to deal with this" which is completely rude and ignorant to the reason why I couldn't pay my bills.Desired Settlement: Money back n for them to keep their new agreement so I can continue to update my account and take care of my bills monthly not every 2 weeks I never said that. I said if I have extra money every 2 weeks I pay a little extra not pay the same amount I did 2 weeks ago.

Business

Response:

Please accept the following as response to Revdex.com complaint [redacted] regarding a consumer dispute related to the collection of past due loan accounts for [redacted]. UW Credit Union maintains that it acted in good faith and within its rights to collect debts according to our agreement with [redacted]. On October 25,2013, [redacted] set up a payment arrangement with our company to pay on four of his past due loan obligations with us. The arrangement was to pay $855.00 on November 8,2013. On November 8,2013, [redacted] contacted us again to inform us he was unable to keep those arrangements, but agreed to pay us $551.00 today (November 8) and make another payment in two weeks. He did make the $551.00 payment as agreed. However, as of December 6, 2013, no additional payments had been made on his accounts. As such, we debited [redacted]'s savings account for payment ofthe past due obligations. We applied the p~yments as follows:

I've been a member of UW Credit Union for 4 years and do all of my banking and loan needs through them. I had a "funds held" charged to my account which was absolutely confusing and absurd. I called customer service and they tried explaining the poor logic which made no sense since there was always plenty of money in my account at all times. At this time I was so frustrated that I just gave up and let the $30 charge go.

Review: I am a college student and I moved to AZ to attend school for my Master's Degree. My card was being used in another state while I was in AZ. When I contacted the bank the account was supposed to be closed for investigation but never was and the charges continued until I called back. When I called back and asked about the fraud I was told my card does not need to be in possession for use. The account was finally closed for investigation. I now have to dispute the charges in order to receivemy money and have access to my account. I called to see if I can get a letter saying my accountis under investigationto give to my creditors and they denied my request. Now I'm stuck with no money and have bills to pay. No one will give me answers because I'm not able to come into a branch. The level of customer service has been a nightmare.Desired Settlement: I would like my money back and to close the savings as well as the checking account.

Business

Response:

Please find attached UW Credit Union's response to complaint case #[redacted] submitted to your office on June 2, 2015. We have investigated Ms. [redacted]' complaint and based on additional communication with Ms. [redacted] following her complaint submission we feel this issue has been resolved.If you have any further questions please do not hesitate to contact me directly. Also, if you could please confirm receipt of this email.Thank you [redacted].Regards,[redacted]Vice President of Retail Delivery[redacted]