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CashCall is a mortgage company that specializes in online lending. It has competitive loan rates and an easy-to-use website with online payment options for tech-savvy homeowners. Because it works directly with the VA, its mortgage programs are especially ideal for veterans.
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I have been trying to take care of making a payment of $81.27 for nearly an hour right now. In 11 minutes, the CashCall office will close and I will presumably be hit with a late fee. I waited this long to pay this amount because I already attempted to pay it with online banking on August 10 (It’s now 8/16). According to my bank the payment cleared my account on August 13. For some unknown reason the company says I still haven't made the payment.
To be clear, this has occurred because I didn't realize that my monthly payment had been increased by the 81 dollars because of a “shortage in my escrow account”. After receiving a phone message on 8/10 that I needed to contact CashCall, I called customer service immediately and was informed about the increase. As soon as I got off the phone, I entered the payment into my online banking and assumed everything was taken care of. On the 13th I received another phone message and figured the payment just hadn't been processed because I could see that it had cleared my bank account.
This morning (8/16, the last day to make the payment without a late charge) I called hoping to make the payment using my debit card only to be told I can only make the payment using my bank account number. I left work early to ensure I had time to make the payment before the 10:00 PM Eastern cutoff using my bank account number. I first tried to make the payment using a live representative. After waiting on hold for over 25 minutes, I decided to make the payment using the automated service. After following its instructions perfectly three times, I was told each time that I'd made an invalid entry (even though I was reading the numbers directly from the bottom of my check exactly as instructed) and the service hung up on me.
It is now 7:00 PM Pacific time, so I have now been on hold AGAIN trying to talk to a representative for 27 minutes and have presumably missed the 10:00 PM EDT cutoff. This is one of the most frustrating experiences of my life. I've made every payment early since the funding of my loan and now I'm going to have a late payment on my history because of this ** company providing the worst customer service of any organization I've ever dealt with. Word of advice; DON’T DO BUSINESS WITH THIS SLEEZY COMPANY!!!
My mortgage was sold to CashCall where I had no say in the matter and have had to deal with them. The mortgage has been sold several times before and each time a hassle to set up account to pay a company you never even heard of and made no agreement with. Out of all of them, CashCall is the absolute WORST. Simply trying to pay the mortgage can take hours and several calls each month since their system doesn't recognize the account number and gives no explanation, you call the number to straighten it out and have to input your information several times before getting a person, 20 minutes later they say it is all set up for online, and yet... no. This is about the 6th time in a year. No problem with all the other companies. I would NEVER do business with CashCall if given any choice. Would not mind this time if sold to another company.
Don't use CashCall Mortgage unless you want to spend massive amounts of time on your email, phone, and speaking with supervisors! We used CashCall Mortgage recently and missed TWO closing dates b/c they could not underwrite the loan quickly enough. They kept asking for more, and More, and MORE info, some of which shocked our realtor and title company. They continued to ask for info event AFTER we closed and funded the loan, even threatening to "unfund" our loan if we didn't get them the extra info they were requesting. I tried to speak with supervisors by phone and email. Guess what, NO RESPONSE! I actually spent several hours crying just b/c of the stress they put me under, and I am typically a very laid-back executive. AWFUL experience which I will never repeat.
Run Away, run away... From these people. Had a water claim, so we needed a water remediation company to dry out the floors and walls affecting by the water damage. State Farm Insurance was very prompt & helpful in settling with the Remediation company and issued the checks, for all the work provided over a period of about 3-4 weeks. These are 2-party checks, so you have to endorse the check(s) and send them to CashCall for their endorsement. This is where the problems start. They slow down the process so much, that you will spend hour & hours talking to them, trying to get them to release "your" money. They hide behind the use of Fax machines, so you can never email them anything. They never call you back.
When you contact them, they come up with different excuses, about the different forms that have received from the contractors or signatures that they can't read... It goes on and on. They held the money so long, that our main contractor threatened to file a lien on the house unless they got paid immediately, so we had to come up with $ 13,500 ourselves. It got so bad that we had to Re-Finance the mortgage on the house just to get away from these terrible people. What I think they are doing is called "kiting" - where they hold on to "your" money as long as possible, so they can invest it and make some money. You will have a heart-attack trying to deal with these people. At the beginning it sounds like they are trying to help, but such is NOT the case. Please tell all your friends and everyone you know never, ever deal with these people.
I was quoted a certain interest rate with a $2000 origination fee. The fee quoted on the website is less than $1000. When I told him I got a lower interest quote but with a higher fee he began talking to me as if I was stupid to save $20/mo instead of $2000. When I called him on it he began to backpedal and said we had a communication problem.
Cash Call Mortgage has TERRIBLE customer service. You have to listen to endless recordings and once, if you even can, get to a person, they won't help you. I was told that I can't speak to the lien release department and they will respond to me in time even though they have had my request for a month. I need to set up a closing and I have no information. I plan to refinance with a bank that I have a contact person.
The issue with the payment amount was resolved.
If you are thinking of using this company don't do it! I just refinanced and signed the docs stating my payment was going to be $1427.03 and just got my first bill for $1812.27. The entire process just to close was a horrible one. It started off on a good note until I was assigned my loan processor Anthony. Things just went south from there. Such a lack of communication, some of my emails would go unanswered, phone calls not returned. I plan on refinancing again to get a lower APR and will NOT be using this company nor will I be recommending them to anyone.
STAY AWAY!!! In mid September 2016 I started the refinance process with them. After nearly a three week underwriting period, I was told I would be better off in an FHA program. I agreed to the change. Then it went silent on their end. I emailed and called and tried to get some status on my loan throughout October 2016 and into November 2016. In early November, I changed jobs and had a slight reduction in salary. By mid-November 2016, Cashcall finally found my paperwork and got started on my loan again. After a four week process, they finally told me that they could not complete my loan because of the decrease in my salary. HAD THEY COMPLETED MY LOAN IN OCTOBER, THERE WOULD BE NO ISSUE. I suffered because one of their workers left the company. STAY AWAY FROM THIS COMPANY.
I refinanced 2 properties at the same time with Cashcall in 2016. I have bought and sold property many times. Cashcall is by far the fastest to get my loans done (like 10 days). There were no costs to me, they even paid for the appraisals. They offered me the best interest rate of any company out there. Of course as with any loan if you have a low FICO score and a bunch of late payments on your credit you are a big risk and will be treated like one. But if you have your act together this is a great company.
Although personnel is very professional and respectful, they lack in detail and accuracy. Two attempts to refinance in two months, three different notary appointments for inaccurate documents. Only to find out day before funding that they made a mistake and underwriters would not approve. Waste of time and energy.
CashCall Mortgage Company Information
- Company Name:
- CashCall Mortgage
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