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Re-fi'd with Cenlar three years ago. The application process was online and easy, all my questions were answered promptly with a phone call to their rep. I got a good rate and their billing and notifications are on time and comprehensive.
I'm also in the Citibank to Cenlar transition. I will start by saying I just had a very professional and helpful call with a Cenlar rep-- she gets gold stars. However, my key complaints are:
2) I received the first statement from them about 5 days before the next payment was due (which is today). She clarified the due date was the date we set up to pay, and that there is a 15-day grace period beyond that, and that during the transfer, there is a 60-day blackout period where no negative actions can be taken against the borrower.
3) My first 3 calls to Cenlar were via a maddening phone tree, which then dropped my calls after navigating through the access channels multiple times.
4) Nowhere on the statement do they let you know whether or not your auto-draft set up previously with Citi is still operative, and there is no place on the statement that reveals how their first payment collection was made. (Are they reporting a draft taken by Citibank? Did they themselves take the bank draft using credentials transferred by Citi?)
I haven't really used the website yet except to try to get a phone number (says unavailable) and I couldn't even find the chat link referred to on another information page. So the jury is out on how well that will function. Final resolution is that I don't have to do anything; that my auto bank drafts will continue uninterrupted. My actual wait time was not terribly long, either-- only about 10 minutes. She said that today was unusually quiet but that it's been non-stop for the reps there, with people often having waited a long time.
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My mortgage was sent to Cenlar as well. I've had to deal with their customer service twice, so far no complaints. I also think the website has more options, especially when it comes to making additional payments. You can choose up to 9 additional payments. Today I made 3 additional payments. I don't like when banks restructure and send mortgages to 3rd party companies, but as long as there are no issues, shouldn't be any problems.
My husband and I bought our first home in Florida back in 2016. Our mortgage was sold to Cenlar a few months after closing. So far we have no complaints. The website is always available aside from routine maintenance and is easy enough to navigate. If it helps anyone I use the Google Chrome browser to log on. I know it's working because I just logged on this morning. They have features such as Budget Draft that are helping us pay off our home faster. This is when they split the mortgage in half to be paid biweekly. You also can set it up for payments to only come out of your account when you get paid. It's a nice alternative to refinancing because you can automatically take whatever extra principal payments you want every 2 weeks. Doing this has turned a 30 year mortgage down to a 10 year one and even if things get rough we can stop having them take out the extra principal payments with a simple phone call.
That being said I took off a star for a reason. As with any company, dealing with customer service can be a crap shoot. Some representatives are very helpful and give me what I need in a short amount of time. The reps who helped me set up the budget draft were great and I haven't had a problem since. Some don't know what they are doing.
Once I wanted to know when I could get the PMI taken off my loan and whoever I dealt with didn't know how to help me. I wound up just figuring it out myself. Sometimes the hold times are long too. As irritating as that can be the solution is simple. Hang up and call back when they are less busy if you do not have the time or patience to wait. Anyone who has ever worked in customer service knows you can't always get to all the calls when so much is going on. It doesn't have to mean they don't care about your call. It could be as simple as not having enough ears and mouths on staff to take it right that second. Also if you get stuck with a goober on the phone don't be afraid to hang up and try to get a better rep.
One suggestion I have to Cenlar is to be very clear when offering disaster "help." After Hurricane Irma knocked a 5 ton tree on our house in 2017 we reached out to Cenlar. They said they could pause our payments for 3 months while we figured out how we were going to tackle the repairs and tree removal. What they didn't tell us is that when those 3 months were up we were going to have to pay all three months mortgage in full. So this was more of a "die another day" strategy than actual help. We were under the impression that once we resumed payments it would be one month at a time and it would take just a bit longer to pay off the loan. Luckily we had the money to cover it or we would have been screwed.
All in all Cenlar hasn't given us any real problems. All our payments come out on time and are correct. If you get the right agent on the phone they can solve your problems quickly and efficiently. Some agents just need more training. Any company can have issues like that. Just be patient and check your settings for login problems. If they are that terrible try refinancing with a new company. As far as we care concerned we have no reason to waste money on jumping a ship that's not sinking.
I was late on my mortgage and had to deal with the collections & Customer service department (I was hospitalized, but I take full responsibility for being late). I requested a letter so I could use the 401k hardship clause. It seems simple, right? Cenlar sent me a total of 7 hardship letters, the first four took 2 months and all 4 arrived too late to use (The IRS needs the letters to be submitted before the "pay no later than" date on the letter) so I asked if they could email them. They emailed me....1 statement (not even a letter), 1 Microsoft word document typed up by someone which didn't even have the letterhead from Cenlar, and one PDF of BLANK PAGES (they scanned it backward!). I finally got the letter I needed, informed them it takes 4 days to fund the money after approval from the 401K company. They said no problem, call back.
I call back today, and they sent it to an attorney for foreclosure, causing me another 3K in fees which I can't access my 401K for again because you can only do it once. THIS COMPANY IS A NIGHTMARE TO DEAL WITH. Their disorganization and overall lack of communication are unreal. Don't trust them to do what they say they will and don't count on them for anything important. THEY caused me to be an additional 2 months late and now I will have to pay thousands in attorney's fees due to their negligence and ineptitude.
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Never had such terrible service in my life! I got a mortgage with a fine company and they sold the loan off to Cenlar and they don't care about customer service! It's owned by Citi Group! I would never do any business with them in the future but it looks like I will have to deal with them for the next 30 year :(
I’m a realtor and short sale negotiator. I’ve been working with Cenlar’s since May of last year on a short sale for a couple who have massive medical bills because of his Guillain-Barré syndrome. They’re both elderly and now living with a child who cares for them. Cenlar took 7 months to approve their short sale after repeatedly losing the documents I sent them multiple times. Most banks assign a negotiator early in the short sale. We got one six weeks before the sale was approved in January. Then the buyer walked because the house had deteriorated so much. (This happens many times with short sales, so it wasn’t a huge problem. You just put the house back on the market st the approved price.) Got a new buyer, same price and terms. Submit for a buyer change for the approved short sale, and Cenlar says we have to go through the same process qualifying the sellers for a short sale- pretty much another seven month process.
I’ve closed 175 short sales since 2009. This has NEVER happened with any other bank. Switching a buyer after approval is usually a five day process. So the closing date was supposed to be tomorrow and of course it can’t close because Cenlar has their heads up their **. The sellers are going to have to file bankruptcy, and the house will continue to fall apart. While a bk is in process cenlar can’t foreclose. So by the time they’re able to take the house back and get it on market for a bank owned sale, Cenlar’s investor (CitiMortgage) will be lucky to get a third of the sale price we have now. All because of incompetency or stubbornness. Maybe both. I love doing short sales, but I hate working with cenlar. They’re the worst.
The truth or shall we say my review of 2-13-2020, first off my loan was handed over to them from Towne Mortgage who is even worse after we had a verbal agreement that it would not, second they are nothing but a money handling company. If you have to pay them, Do it with a cashier's check. Never your bank account. So far since my loan started I was smart enough to enlist not only common sense but to take pictures of every check I send them and to make sure it is by signature confirmation. Do not accept their b.s. of saying you cannot send it that way to a p.o. box. It is your god-given right!
Also NEVER TRUST THEM. THEY WILL BE RUDE AND LIE TO YOU. Their #1 watchdog of a secretary that answers the phone tries to get rude and upset you. Lol nice try watchdog but you are always recorded. If they record you you have the right to record them whether or not they hear you is not your problem so make sure you have Android 10 cell phone because 9 will not record them, hi Cenlar. Hope you love me as much as I'm loving you! Make sure you do not misplace your receipts. If they so much as mess with your credit you can sue them.
I would not recommend getting your mortgage with Citi because of Cenlar. My house was severely damaged in a fire, and it has been impossible to get them to release my insurance proceeds to rebuild. Including the large amount in excess of the mortgage. I have resorted to paying the mortgage off to be rid of this horrible company, and I cannot even get them to apply the proceeds to retire the mortgage (and return the large excess) in a timely fashion. They have made a terrible situation much worse.
This company has continuously screwed my escrow analysis. I have called three times for them to redo their numbers, as my taxes are incorrect, and each time the person on the phone tells me that the requests have not been put through. I have spent hours on the phone trying to get them to do their job and it has been pointless. I’m looking into refinancing with a different mortgage company. It is unacceptable to ask borrowers to pay more than they need to because someone is not doing their job correctly.
Cenlar Central Loan Administration Company Information
- Company Name:
- Cenlar Central Loan Administration
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