E*Trade Mortgage

I called E*Trade today again about a late charge. I spoke to someone that stated, "I'm sorry, I don't have access to your account information. I'll transfer you." I always end up at automated system that ironically doesn't recognize my account number and then hangs up on me. I have never been able to reach a live person to discuss my account.

They do not let me pay my bill online. They charge me $40 a year to use their brokerage account then I transfer to bill pay to then pay my loan, which takes 15 + days and now I got a late charge for $48.67 even though they had my money for weeks. Nobody has my loan information and will not speak to me to get resolution around a payment that I submitted well in advance. Worst ethical company! Thanks, E*Trade! Nice online capabilities! What a joke!

I paid a HELOC off and asked for the account to be closed and a paid-in-full letter to be sent to me while the release paperwork was sent to the county. I needed the paid-in-full 'satisfaction' letter so I could do a refinance on the primary loan for the property in question. I was told that they could or would not give me such a letter. I found out that they sent the wrong information to the county and the lien release was rejected by the county. My account is still open even though I sent a written request for the account to be closed with my full payment (zero balance). The account is still being reported as open with a balance due to the credit bureaus at this time.

January 2007, Home equity of credit was opened with E*Trade in the amount of $250,000. March 2009, E*Trade contacts me with an offer to close the account due to lack of use and the continued zero outstanding balance. I declined the offer since I had paid $1,375 to open the account and E*Trade only wanted to pay me $200 to close it. April 2009, E*Trade notifies me that they have frozen access to my account because they have determined that there is not enough equity in the property to support the $250,000 line of credit.

The account still had zero outstanding balance. I appealed this decision, and then obtained and forwarded a new property appraisal to E*Trade showing that there was more than sufficient equity in the property to support the line of credit. While these exchanges were occurring, E*Trade Insurance Center requested a copy of the Declaration Pages of my hazard and flood insurance policies. The Declaration Pages of the hazard and flood insurance documents were faxed to the number provided.

May 2009 E*Trade refused to reinstate the line of credit and the outstanding balance remained zero. July 2009, The Declaration Page for the flood insurance policy was again faxed E*Trade. August 2009, E*Trade Insurance Center informed me that they had purchased flood insurance and charged $4,566 to the line of credit account that they had previously frozen. June 2010, E*Trade Insurance Center again requests a copy of the Declaration Page of my flood insurance policy. I have never used the account; it was frozen by E*Trade with an outstanding balance of zero; and yet E*Trade bought redundant insurance and charged it to an account that had a zero balance and to which I do not have any access. October 2010, I am attempting to refinance my house but I am being rejected because E*Trade has apparently placed a lien against it and demand payment before they will remove the lien.

After a divorce wiped out nearly half of my income, I have spent nearly the last year trying to modify my mortgage with e*trade/gmac; only to be denied four times.

I negotiated a mortgage refinance with Etrade Mortgage and received closing cost estimates (consistent with the information on their Website). The closing costs were to be $1792. Upon signing the closing documents, and after the customary 3-day grace period, I was called and told that I still owed $1150 beyond the $1792 indicated on my closing cost statement.

My loan processor, Clayton N, as well as Amy J, his supervisor, admitted that the error was on the part of Etrade, but I was still forced to come up with the remaining, required funds. The explanation was that some costs were not reflected to offset any credits. I explained to her that both my loan processor and loan consultant spent at least 1 hour each going over the original closing numbers, and I was assured the amount I owed E-Trade would only vary by about $50. There appears to be a lack of proper quality assurance at E-Trade as I feel those numbers were not checked by the loan consultant, not checked by the loan processor and lastly not checked by anyone during the "grace period."

I would not have refinanced my mortgage based on the now, modified closing statement numbers. Ms. J compared the error to a typographical omission, and that I was liable for the balance of money owed. She also admitted that it would have been near impossible for me to have discovered the inconsistency between the closing cost statement and the correct signed documents. Although I believe Ms. J made a genuine effort to ease the final cost to me, she was only able to lower the amount to $900 and I have since submitted this amount to Etrade, fearing legal action. During closing I had provided a $500 pad at closing for possible discrepancies, but I was now forced to pay an additional $900. Thus, I paid $1400 beyond the original estimate.