Complain about a product or service

Central Mortgage Company

Little Rock, AR

eileen of san jose, , CA October 27, 2009

I am in receipt of the 2nd letter from Central Mortgage Co. regarding my home hazard insurance on the property at Brentwood, CA which has a loan with them. On receipt of the 1st letter while they stated that they need a copy of my renewed hazard home insurance policy, in response, I called AAA which is my insurance company, they told me that they have sent one copy already to the Central Mortgage Co. and they will send it again upon my request.

This 2nd letter was received yesterday informing me that they got an insurance coverage for me, coverage for $219,354, not including contents or liability and the premium is $3360.24. There is no name nor contact info. of the Insurance company in the letter. I have paying insurance premiums for quite some years, but never seen such a high rate of premium, I wonder what kind of insurance business is this? This type of letter is not the first time, it seems every year, at the time of my renewal of hazard insurance of this property, this Central Mortgage Co. will send me a letter informing me that they are covering my hazard insurance with an insurance policy of theirs.

Today I got a representative from AAA contacting The Central Mortgage Co. in 3 way phone calling, and found out that the renewed declaration has been sent to this Central Mortgage Co. 4 times, and the person on the line (Javier)from the Central Mortgage still requests AAA to fax a copy to him. I wonder why the mailings for correspondences have no effect for business communication with this Central Mortgage Co.? Why they are in such manner of doing the business to make the consumers take the great efforts to contact them via the consumer's insurance company or they will just to replace the existing hazard insurance policy on their doing?

I write this letter because I feel this is a unreasonable hassle to me as a consumer, I did not acquire the loan from this Central Mortgage Co. the Downey Savings sold to them because my loan portfolio is good for the investment. Yet, to me, that I feel I am abused by their such a business practice attempting to replace my existing hazard insurance on the property with a unusual high premium and without information of an insurance company. If the letter was lost on the way or misdelivered, and never reach me, then I will be damaged without my doing, since in my mind that this insurance coverage has been taken care of as usual.

Brian of Chandler, AZ July 19, 2008

I have been trying to make payments on an investment property, via my accountant but have been refused. I also registered online, only to be told that I can not make payments. I then called the 24 hour automated payment system, only to be disconnected because they are closed. I would like to call on Saturday, but the out going message stated the they are closed due to an all employee meeting. In the meantime, I am racking up late fees and possible credit violations.

I believe this company is intenally making it difficult to pay, so they can incur more revenue via late fee penalties. This is the third time this has happened to me this year. I have occurred approximately $400 in late fees Year To Date

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