Consumer Reviews and Complaints
I began a mortgage modification with Cenlar in December (paperwork started in December). Since the first time I read the reviews on this site I have been a nervous WRECK. First off we were only one payment behind due to an electric budget that we were on for a year and they "miscalculated" by almost $2000 and it needed to be paid within 15 days to the electric company. Prior to this we stayed within 30 days of payments. Here is my suggestion(s) to anyone dealing with or will be dealing with Cenlar. When you make a payment call it in or complete online and be sure to record the confirmation number that they give so you have proof of payment. After the payment has drafted from your bank account login to your online Cenlar account and be sure it posted properly. When/if you fall behind call them immediately.
We called the first month we knew we were going to miss a payment to go over the options we might have, waiting until you are 2+ months behind will not work in your favor. IF you decide to go with applying for a modification complete ALL necessary paperwork and do not skip any answers and make sure you attach everything they request. Either FedEx or fax the paperwork in (after making COPIES) and TRACK it. Start calling a few days after you have receipt confirmation. Cenlar does not handle HAMP mods in house, they outsource to Bayview/Lakeview. This will be a time consuming and agonizing process... It is A LOT of paperwork and sometimes "pieces" go missing. You need to keep copies of everything, send everything in a manner that can be tracked and call, call, call to follow up.
I have to be honest, as much as the paperwork and calling in to be put on hold, transferred, etc. was a pain I did not have a "bad" experience. My HAMP mod was approved with a TPP and the terms were explained. I did everything they requested, sent everything they requested and kept copies of everything; I also kept a log of every time I called, who I spoke with and what they said. It is going to be a pain and it is going to be time consuming but it all makes a huge difference. Once Bayview/Lakeview and you complete the Trial Period they will send it back to Cenlar. Then you will get the final paperwork in the mail to sign and have notarized. They are very clear in the packet that there is a deadline and that you must leave no blanks.
Our mod was not cut and dry or easy due to some issues that we have but I provided anything and everything they asked for and as of today our HAMP mod is complete and the information has been updated on our online Cenlar account. I know most people just come on to complain but I wanted to give some people hope and maybe some advice that will help. Cenlar has not been a nightmare for me and even though the mod was a royal pain; it was to be sure I kept my house and my account in good standing so I was more than willing to submit, resubmit and follow up multiple times a week (and yes I do have a job).
I too am wondering how in the world this company is still in business and how the employees can sleep at night! About 3 years ago we had to go through a modification on our loan. I did everything I was told and was quoted a figure for a new monthly payment. For the next FOUR MONTHS. I made my payment on time. Then in August I get a letter of foreclosure! I called and was told the payment I had made each month was too low and I was getting further and further behind each month. All four months not one time did anyone who took my let me know this! I found out the imbecile who did my modification was no longer employed there. Had been fired. I told them I was quoted a too low payment by this person but it didn't matter.
I thought I was losing our home. Me, my husband and our 4 children's home! I called a lawyer who threatened them with a lawsuit. Long story short, our credit has been ruined. We still have our home but our mortgage is "under water". We've been paying on it since 1998 through 5 different companies and won't have it paid off until I'm 84! I'm 53 right now. Can't refinance because our credit's ruined. What's worse we owe almost the same as when we started because I had to pay Cenlar's lawyer fees! Can you believe it? DON'T DO BUSINESS WITH THIS DEN OF THIEVES! They need driven out of business!
I am feeling very sick to my stomach reading all of these TERRIBLE reviews and my experience with Cenlar/Bayview has been so, so awful. I have been crying for the last 4 days since I received a pre-foreclosure letter from their lawyers in St. Louis. I have went through what many of you have in the last 6-8 months as far as no return calls, no communication or correspondence regarding my modification and mortgage. I have also experienced my mortgage payments being sent back to me stating an "Invalid Loan Number." I just assumed that maybe I had a new loan number because I was going through the modification process.
I applied for a modification, went through the paperwork process and made all of my special plan payments ON TIME in November/December 2016. I was told by Cenlar that the modification process can be a very long process and to remain patient. I trusted them! I never received any correspondence regarding the modification process except for ONE LETTER stating it was approved with a copy of the lot my home was located on, etc. Every time I tried to call I was hung up on when transferred, received voicemails, circuits were busy several times when I called and no one that I spoke with could ever answer my questions properly... It was frustrating.
Somehow, I FINALLY got a hold of a representative who was supposed to be managing my loan. I explained my frustrations, the fact that I had no idea where they were at in my modification process because I have received no correspondence, etc. and she placed me on long holds SEVERAL TIMES and seemed just as confused with my loan as I was! She said that she would have to pass my loan information to her supervisor because things did not look right with my mortgage. It took about a week and a half to TWO WEEKS to speak with the supervisor Jim.
Jim stated that my loan was compromised and I asked him to explain. He stated that my modification was approved but Cenlar MISALLOCATED my funds and it was their fault! He stated the funds were NOT allocated properly so they were trying to correct the mistakes, allocate the funds properly and that everything would be okay and I was not on his radar for anything to be wrong or for my home to go into foreclosure, etc. He reassured me and I believed him. He seemed sincere and owned up to the mistake Cenlar made. Jim said as soon as the mistakes were corrected I would hear from him to proceed with making my payment.
I never heard from Jim again. Over the last couple of months I would see very odd things happening with my mortgage account... I would receive emails saying there was a $6000 payment made on my mortgage account or a $1200 payment. I knew that it wasn't me making payments that large. It was so confusing. So, just 4 days ago (8/17/17) I received a letter in the mail that my home is going into pre-foreclosure. I was SHOCKED. STUNNED. I feel so very lost and confused! I called Cenlar immediately... And it didn't help at all! I explained my whole situation to the representative and asked for ANSWERS but she didn't have ANY! She was making excuses and all that she stated was my loan modification is no longer active!!!
The only thing she could say was she would send me a loan modification packet of some sort to fill out and return to try to save my home!!! She said there are different options to try to help me but... I already went through this before! Why would I have to do it again, especially for something that wasn't my fault? And I lost a modification I was actually approved for because they didn't allocate the funds properly??? That is their fault, not mine! The representative said the modification I was approved for was the HAMP but now I am not eligible to apply for that particular one again! The representative then stated "Please stop crying. It will be okay. As of right now there is NO SALE DATE for your home and once we get the packet of paperwork from you it's possible to put any foreclosure activity on hold." It felt so surreal to hear this.
I need help. I need to seek some type of legal help... I honestly just don't know what to do. I am so worried. Cenlar will RUIN LIVES. I am a single mother of a beautiful daughter and we have no other living family members. I was the first homeowner in my family... And we will virtually be homeless if I cannot resolve this. I am so worried and angry. I feel helpless.
I am just like all the other honest people complaining about Cenlar. We have had them since February 2017 and every month is another nightmare. Customer service is the worst I have ever experienced in over 40 years. We do electronic monthly payments and get emails it was accepted. Surprise after the deadline we get notice in the mail with a late charge that the bank rejected the payment because there was no middle initial??? This just happened again this month. I am jumping hoops to put this company in my past forever but the new company states Cenlar has to remove the late charge. Because of this scam my credit rating went from the high 700's to 605. This company needs to be stopped and all us poor consumers need to be reimbursed for time spent and stress being caused by them. This is a VA loan that my husband was entitled to. Perhaps the companies selling to Cenlar should be investigated.
I currently work at Cenlar FSB. I was so happy when I first obtained employment there, thought this company was really an awesome company. Now the longer I am there, my opinion has swayed. QA is not our friend, for everything now seems to be a compliance fail. I have co workers who are threatened to be written up for insubordination for advising they can't get their work done on a short notice and lengthy list time frame. Everyone here is not very happy, but stay because of pay. Loss Mitigation is sometimes lagging in their duties, people call in and complain about situation that I have read online, I experience them. Pays are messed up, just give them an occurrence is the standard response to everything. And we are not appreciated, and moral is low.
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and that credit card companies got sued for this type of behavior. They hold your payments for days and cash the checks after the due date so as to rack up late fees. I could not believe it! This is what happened to us. When calling multiple times to see why a payment was posted late to our account even though the payment was sent early enough to post on time, I got all sorts of responses.
I have called multiple times to try to get this resolved, and still, 4 months later, nothing is fixed. Today, I was told the reason the payment must have posted late is because it must have come in on a Friday after 5 pm so it didn't get posted until the following Monday. Then she goes on to say, they can hold a check for up to 5 days! What?! Isn't that illegal? When I called previously, I was told that they have no control over when a check is posted by them. What? How can that be? I've asked to speak to a supervisor on two separate occasions and each time after being placed on hold for 10-15 minutes to have them return later and tell me that one will have to call me back. I have even said I don't mind waiting on the line if one will talk to me today, and the representative said that she can't have me wait on the line, because I'll be tying up her line. Unbelievable! I just want answers and this late fee reversed and can't seem to get anywhere.
The sad thing is, I know I probably won't win and I'll be like so many other consumers who are taken advantage of by companies like this. It's just not right. Since this has been happening, I got online to see what kind of experience others have had with this company. I was shocked to see I'm not alone and that there are hundreds of negative reviews about this company! How is this company still in business??? They are apparently one of the worst mortgage companies in the nation. If you have a choice, stay away from Cenlar as your mortgage company.
This is probably the worst company you could be stuck with for your mortgage company. They are a group of morons and very rude for no reason. I have never ever in my life had to deal with a company this crappy. I'm never late, and all I did was call to ask a simple question and was on hold for 46 minutes! When somebody finally answered, she was rude as could be. They are a joke. So many negative reviews how are they still in business.
This mortgage loan company, CENLAR, SUCKS! Please copy and paste, or share, or whatever it takes to make this post go viral. I have a second mortgage with this outfit. I've been paying every month for what seems like forever. I've been late a couple of times, like last year when my husband had a heart attack. I'm not perfect, but I try.
I was paying bills in June, and saw on the statement, Payment Due, $272.01. I paid $272.01 thinking that was it. Well, it turns out I was $4 short of the real payment, which was $276 and change. (I ultimately paid the July payment, instead of the June payment). So come the end of June, they reported me 30 days late, for a $4 shortage. When I called to pay the July payment the rep informed me I was 4 bucks short and would I like to bring my account current? I didn't know what she was talking about. I looked at the statement and discovered the problem.
I wrote a "goodwill" letter to them explaining why the payment was $4 short, and could they please review the file and have a little compassion or understanding for an honest mistake, and remove it from my credit report, as all is paid and current. (I am trying to refinance my house, and now have to wait a year to get this off my report.) I got a letter from them stating since it wasn't their error, they wouldn't remove it. It doesn't hurt them, it's no skin off their back, and I know for a fact that companies can do this as a courtesy. A little customer service goes a long way.
I then spoke to a so-called customer service rep who said that by law they have to report a delinquent account, which I understand, but what I don't understand is why they even have customer service reps to help their customers, in cases like this, if they refuse to do so. Back in the 90s, I initiated a class-action lawsuit over a $35 late fee. It cost Fleet Bank over $3 million and I got a few thousand, for $35. It really doesn't pay to make me mad. Please get this out to everyone you know, their friends and their friends; and if you have a loan with them, REFINANCE! If you have had trouble with them, get the word out!
Dealing with Cenlar for several years regarding their disregard of my communications when they imposed escrow for taxes which were not overdue and then began adding late fees and threatening letters re my credit standing. Totally unresponsive until I threatened suit plus enrolled aid of various government protection agencies. They even disregarded attempts by the original loan company to rectify my situation. Still after years they have not totally cleared up the charges even though promising finally to do so. They now have transferred my contract to another company called Nationstar.
So my employer cut my hours and pay and it is difficult for me to keep up with my high loan payment. I contacted CENLAR because my loan was sold to them by Loandepot.com. This Company is a damn nightmare. They don't keep track of documents and they always give me the runaround when I call. Their reps are Rude and have clicked on me many times. Plain and simple we need to get together and start a LAWSUIT to this garbage ** company.
I was assessed a late fee in summer of 2016 due to my payment getting lost in the mail. I called and requested the fee be waived on a one time basis. They verified I have always paid my mortgage BEFORE the due date every month and agreed to waive the fee. In 2017 I got a delinquent notice for the $24.90 late fee. I called again and they said they would waive it. It has now been a year and I still have a delinquent late fee on my account. This is the worst Company I have ever dealt with. Complete disregard for paying customers. I would refinance my home and pay closings again just to remove my loan from this companies hands.
I have made numerous attempts with Cenlar to have my monthly payments adjusted since my property taxes have been reduced. I have received the runaround. The representatives all tell me the same thing that it will be adjusted next month. The scenario has been going on for the last 4 months. Cenlar refuses to stop escrow of the taxes as I have requested multiple times but instead they stop taking out my insurance which was not an issue nor requested. This company is horrible to work with. I would like to contact the board of directors. I would encourage others to voice their complaints in hope that our voices will be heard.
After taking more than a year to complete my loan modification, I am still 2 months in default. During this time, CENLAR sent me final modification papers 3 separate times over 6 months before getting the figures correct. They never communicated with me regarding why there was such a long delay. Somehow after off the delay and after they calculated all the trial payments, I am still 2 months behind. HELP! After constantly calling them, they have no solution for this. They are now sending pre-foreclosure notices once again.
"Trusted Personal Service" and "Count on a Trusted Partner". Two mantras listed at the top of Cenlar's website are simply not true. I was overcharged $1,100 a month on my escrow. I emailed and phoned in an effort to convince Cenlar to do what is right--reduce my escrow charges to the correct amount. One email actually stated that they would do it. When they did not, I emailed again. The next emailer was completely oblivious to any of the information sent in the past emails, and simply said I could try once again at the end of May. I could see that my requests were going to continue to be ignored. I read reviews from frustrated consumers who had the same problem but were receiving no help. My solution was to contact my local TV station. My escrow account is now correct, and I received a refund check for my overpayments.
I'm actually sorry we're not alone in our troubles with this company. There are obviously many people here who have had issues with Cenlar as well. I hate that they bought our mortgage (they've been so difficult to deal with) and I would love to figure out a way to refinance and guarantee we'd never end up with them again. It's sad we pay so much to these companies, yet we have no say in who we work with.
I have done everything possible to get them to release the check from my mortgage company for storm damage so I can pay my contractor and they continue to throw up roadblocks. Never helpful, can't talk to a supervisor. It doesn't get any worse!
I believe Cenlar, along with Sun West, and these ** loan servicing groups are a group of companies set up by "mers" to fast track foreclosures when people fall behind. Cenlar took over my mortgage after I had fallen behind with Sun West a few time. Also Feb. 2016, I fell behind with Cenlar. They sent me a packet for mods and forbearance which I filled out and tried to follow up on and was given the call transfer runaround by all parties, no acknowledgement of the packet or ability to negotiate.
Was able to get caught up and then in July fell behind again. When I put my payment thru for the balance it was returned for ISF which was not true. The money was in my account again, tried to follow up to no avail, and giving the runaround. Now my house is in foreclosure and there is no stopping them. I'm back on my feet, my girlfriend was even approved for a new loan which would satisfy their cost, fees and entire mortgage but then don't care. They're just going to push it thru and leave another person homeless.
Cenlar is the by far one of the worst companies out there! I am filing a complaint with the AG offices, Federal Trade Commission and Department of Savings and Mortgage Lending Austin, TX. I encourage others to do so as well. They raised my mortgage payment by 90 percent stating I owe more money because they paid taxes for escrow shortage and projected escrow. I fought with them to bring the terms from 12 to 24 months to lower my mortgage payment. People there lie and do nothing they promise they are going to do.
I have never had a PO box address. I have been receiving my statements for over a year to my property address which has been my mailing address with no issue. They have my property address on file. When they finally emailed me the PDF file it showed the bogus mailing address with my correct property address listed!! This is blatant FRAUD!! This is obviously intentional fraud for them to mail this 3 times according to their records with a completely bogus mailing address after they told me they put my correct mailing address in the system when it was sent supposedly correctly 2 times after it was sent to the wrong address the first time. God and the Lord Jesus Christ is on my side and I will be victorious!!
I revoked the authorization to deduct an amount from my account, but, Cenlar deducted it anyway and is refusing to reimburse me my money. Leaving me very broke. Completely despise this place, but, sadly have to do business with them as they hold my mortgage loan... I'd almost rather be homeless than deal with the thieves at Cenlar!
If I could choose Zero stars I would. I called about an escrow check I was supposed to have received that the website said was sent out over a month ago. When I called about it the representative said it was probably lost in the mail and he would re-issue a new check. I received a check about 5 days later that I deposited only to have it rejected because CENLAR had placed a stop payment on it. What I actually received was the original check that was over a month late. When I explained this CENLAR a customer representative told me to send in my bank statement and they would reimbursed me for the fee. I did as they asked only to receive a message that because I had asked for a stop payment (which I didn't) that they would not refund me the fee. At 1st they were very nice, but when they have to cover up their error they become very rude and short. I gave up and just had to eat the fee. I would never recommend them to anyone.
A '1' is overrated to say the least. The right hand doesn't a have clue what the left hand is doing in this company. They put you on hold FOREVER (I think hoping you'll hang up, but I WON'T DO THAT)!!! Then every time we call each person has a different amount that they owe us back... WARNING ~ DON'T DO BUSINESS WITH THIS COMPANY.
This is the worst online banking experience I've ever had. Not intuitive, you can hardly find where to log in. Trying to get customer service is a joke. I've never had a problem with the actual loan, but every time I want to go to my account online, it's a nightmare.
There are no words to accurately describe our frustration with this company. I'm sitting at my desk and see a text come through from JPMorgan Chase Bank that an $1881 electronic payment transaction was withdrawn by CENLAR. The real scary points are that neither my husband nor myself authorized this transaction AND this unauthorized transaction caused our account to go completely upside down and in the red and make financial matters worse in our home. We have been trying to communicate with them over the past two weeks with regards to a deferral of payment(s) or options thereof as I lost my job and have been unemployed for the last several months. Financially, it has been very difficult for our family. Thankfully, I have just started with a new job but our "financial footing" is a mess and we very much need the help so to regain stability.
We were told by CENLAR that paperwork was coming in the mail but to-date we have received nothing. But rather, we find they've made an unauthorized transaction from our bank account and have made a situation much worse. Unfortunately, we ended up with CENLAR directly after closing our mortgage with First Midwest Mortgage and they sold off all of their home loans. Honestly, we would have never gone with the "small, local and friendly" bank had we known their intentions. It has been excruciating to manage and deal with the representatives from CENLAR. They are rude, unprofessional and frankly not intelligent with the business of home loans, etc. I am saddened to read all of these awful customer reviews and experiences. It is not right! How do we push the matter, legally? Class Action? Something must be done to deal with this dishonest company.
All these 1-star reviews and yet this company is still allowed to handle FHA loans. Cenlar purchased our FHA loan shortly after we got our house. On Dec 3, 2016 a pipe froze then burst causing water damage. Our insurance company is USAA. They took care of the abatement and sent a check for over $15k to pay the company who did the work. In Feb we mailed the check to Cenlar for endorsement. Instead of endorsing the check they gave us the runaround which included saying the check was received, then claiming it wasn't, then claiming it was mailed to the wrong address in New Jersey when it should have been sent to South Carolina. During this nearly 40 minute call, of which only 5 was spent talking to CSRs, I was hung up on by the rep in the South Carolina office who was supposedly going to get to the bottom of things.
I did some research and found that there was a possible investigation by the Texas AG into Cenlar taking insurance payments that are to cover damages on a home and instead processing them for payment on the loan. After reading this, I let Cenlar know through their electronic messaging system I'd be contacting the Colorado AG if the check wasn't received by Mar 17. It wasn't. I called Cenlar back and spoke with a CSR who agreed the reason for the delay was it was most likely being processed for payment. She placed me on hold to look into it but when she got back told me the check was lost. She recommended contacting USAA to have them put a stop payment on the check and draft a new one.
We contacted USAA and did the stop payment. In between this time, Cenlar drafted a letter on Mar 23 with the original check attached and endorsed but now useless because of the stop payment. The second check was sent certified mail to the South Carolina office to ensure Cenlar would not be able to claim it had not been received. It was signed for on Apr 3 and later that day I was left a voice message saying it was being endorsed and returned to us. Then the person who left the message went over a bunch of steps were to take which included getting estimates, a W-9 from the company who did the work, etc.
Today I got the mail and instead of an endorsed check, Cenlar mailed a packet for all the stuff covered in the second portion of the message and a statement about sending them an endorsed check. Not sure what to do at this point. This is the shadiest company I've ever had to deal with. The abatement company is now over 60 days past due for payment and contacting Cenlar amounts to absolutely nothing. My only hope is that once the AG's office is looking into the matter and other customers have made similar complaints. Something like that could leave this company ineligible to take on government loans.
My nightmare begin when Ocwen sold my loan. Last year my husband lost his job and we fell behind. Our fault not theirs. But when we got the ones to meet a payment plan, I purchased a cashier's check from my bank, mailed it from the post office paid next day fees. It was signed for but never applied to account which made things worse. So the bank reversed cashier's check amount. We made another payment arrangement, they took the funds out of my checking account and then a week later put it back and said it was an NSF. Branch manager got on the phone with me and them they choked and had no answer so now the payment arrangement was going to almost double for 6 months. I was blessed and received a loan from my sister to pay it in full and got caught up.
Now here I am again I sent another cashier's check and they can't find it. I ** hate Cenlar, Bayview, Lakeview. They are a nightmare as the one gentleman said you can't get ahold of anyone other than a call Center. They do not return calls and god forbid that they know how to respond to an email let alone send one. If you are late even by a week you can not log into your account online. A time out as you will. Incompetent, RUDE, INEXPERIENCED, THIEVES, LIARS, FATCATS, THAT ARE ALWAYS ON VACATION. I love my home. It's my home. But I am now considering refinancing to get out from under them or sell outright. Whew. I have more but it's a lot of the same stuff that a lot of others have said.
Cenlar took over our mortgage loan because we have the NJ Police And Fire loan program for our mortgage. I called Cenlar as soon as they took over the loan and requested an escrow analysis since our current development offers a PILOT program (tax abatement) for five years and they would need to lower our payment because we weren't paying all that much in taxes. I called right away and requested the analysis to be done, in which I was told it would take about two weeks. I called back in two weeks, they told me to wait another two days. I called back a few days later, they said there was no escrow analysis and they wouldn't do one until a FULL YEAR of having my loan. EVERY TIME I call Cenlar, I am given someone who does not know anything about our loan and doesn't care to find out. I've been told multiple things from multiple people who also cannot answer my questions.
I spoke to a supervisor who ASSURED me that I would be kept up to date with all of this since they are violating STATE LAW and it needs to be dealt with ASAP. I have not received any calls, and when I called to ask for her, I was told they couldn't find her and they'd send her an email to call me back. DIDN'T HAPPEN. They also stated on my profile that I requested to be called back and updated. When I spoke to a different Supervisor, he told me "The callbacks don't usually happen..." WHAT TYPE OF COMPANY ARE YOU?
Right now, I am about ready to open up a lawsuit against Cenlar because they are violating state law and keeping thousands of dollars in my escrow account that THEY get to collect interest on that LEGALLY is not allowed to be in there for that reason. I hope someone reads this from Cenlar and takes a good look in the mirror about their company. It seems like the workers are underpaid and unmotivated to handle any of these issues, but if they don't, who will? I pray that I can change mortgage companies because your company has absolutely no clue what they are doing.
I received a mortgage statement on March 2, 2017 in which the loan payment amount had change by almost $200. I called them and they said it was for a deficit in my escrow account for flood insurance. I explained that I have never had an escrow account with this loan and that I had already paid the flood insurance myself in February of 2017. I was to write a letter explaining that I had no escrow account and that I had paid the flood insurance the previous month and asked that the account reflect this and that the mortgage payment return to the original amount.
I wrote to them on March 9, 2017. I received a check from the insurance company on March 31, 2017 saying it was a duplicate payment yet I had informed the insurance company a month before that I had already pay this. I was on hold for a supervisor for over 15 mins and I still have no faith that the payment due on the 1st will be back to the original payment and it will look as if I had not paid my mortgage in full.
When we purchased our home, the prior owners had a tax deferral payment due. It was paid at closing, but the county auditor failed to record the payment prior to the tax statements generated in November. Thus, our property taxes showed an increase of $3,500 (the tax deferral amount), which was in error. Cenlar thus increased our monthly payment to cover the tax increase by approximately $700 more a month!! After communicating with the county tax assessor and Cenlar for several months, our tax obligation was finally adjusted down to the proper amount, and Cenlar issued a $900 refund check to us for the overpayment we were forced to make and readjusted our monthly payment back to what it was supposed to be.
Just last week, I received a Mortgage Adjustment Statement again showing an increase in our monthly payment to cover an increase in property taxes. Cenlar adjusted our payment 2 months ago to reflect the proper tax obligation, refunded the overpayment, and now has entered the wrong, higher property tax amount once again, thus increasing our monthly payment. Of course, you never can talk to the same person and are required to repeat your story each time you call to someone new. I demanded a supervisor today and of course got cut off, and had to call back and start all over again!! They're going to "research" the tax issue, despite the fact it was resolved only a few months ago! Bottom line, they screwed up big time and until this is resolved, we're looking at a now $400 a month increase in our monthly mortgage payment! THE WORST MORTGAGE COMPANY I HAVE EVER DEALT WITH!!!
My first issue with Cenlar is they took a payment from my bank account and said it was "returned". It wasn't. After 8 months of continuous calls, all to different people bc no one there will every return your call back, I finally got someone from Cenlar to 3-way call my bank with me. My bank verified there were funds and that the money was sent to Cenlar. They also provided a tracking # (which I had already given to Cenlar via fax to their research dept).
Immediately the Cenlar agent starts backtracking on the phone saying "Oh, this payment wasn't the issue, and was applied to your account appropriately". I explained that every agent I'd spoken with over 8 months had pointed to this payment as missing, and my loan activity clearly shows it wasn't credited to my account ever. The Cenlar agent clearly just wanted to get off the phone since my bank proved him wrong. The issue is not only Cenlar stealing payments and not applying them (forcing you to make another one), it creates the interest amount they report to taxes incorrect, and it creates an escrow shortage.
This leads to the next issue, escrow shortages and payment increases. Mid-year in 2016 I was sent a letter stating escrow was short and there was a $600 shortage. They said they'd spread those payments out to get it caught up. No explanation for the shortage, my taxes increased < $100 last year. I'm still paying an additional $100/mo on my payments... Well beyond the $600 they stated, and still with no explanation. When I called last week, they said it is reasonable to expect my payments to increase every year due to shortages. Again, insurance has not changed and taxes went up a whopping $9/mo.
So in Nov I'll be looking at a payment increase of $200 in less than 2 yrs of this awful company buying my loan. It's pretty clear there's sketchy stuff going on, and I believe whoever monitors these predatory loan servicing companies will eventually catch on. In the meantime, I've made a complaint to the Attorney General and the OCC, and will be hiring an attorney to communicate w/ them going forward and then a possible lawsuit. This company is not worth another day of stress to get nowhere.
Cenlar Mortgage Screws over customers. I have been making bi-Monthly payments on my mortgage to Cenlar. Last month's checks were returned and I am now behind on my mortgage payments. I called and they do not allow bi-monthly payments. They only accept payments in full. They do have a system where they would directly withdraw money from my bank account every other Friday (they set the schedule without consideration to paydays). But this is only available to people who have paid over 1 month mortgage in advance and is based on application approval. Cenlar is ensuring it is easy to mess up and incredibly difficult to stay on course.
Cenlar Central Loan Administration Company Profile
- Company Name:
- Cenlar Central Loan Administration