Cenlar FSB Reviews

In 2021 I sold my home, paid off my Cenlar home equity loan and via the title company, very specifically instructed Cenlar to close the account and not issue further credit on it. Four months later, my ex, who was "co-signer" on the loan was able to take cash advances adding up to $250,000 from this account for personal use. I called Cenlar requesting to have my name removed from the account and they would not, and they stated that I am just as liable for this loan just as my ex is. The company did not acknowledge my lawyer's letters nor my letters requesting this matter to be addressed. They continue to receive interest payments from my ex, and to date, refused to assist with my very legitimate complaint. This company has first hand taken part in trying to ruin the financial future of my family for their own benefit. I will never recommend them to anyone.

Not a fan of Cenlar. They're very slow to post payments and transfers. This results in late fees and negative impacts to my credit scores. Cenlar's performance negatively impacts the services provided by the credit union we belong to.

Unfortunately the Credit Union I got a loan from turned me over to Cenlar for all aspects of my loan. It has been a nightmare every step of the way. There is no number to call so you are stuck with web chat. I tried 3 different times and got stuck with Abdul each time. He was obviously watching a movie or cooking dinner since he would just stop responding for minutes at a time. He wouldn't answer any questions and refused to give me a phone number to call to actually get help. Now I am told they offer no form of customer service on the weekend. I cannot get any assistance. Alliance Credit Union will also get a terrible review for sticking me with these clowns.

Made a monthly payment on time with additional principal. The next day they automatically took another payment and Informed me it will take 10 days to return the funds, and it will be by check instead of returning it to my bank account. It's exactly what I would expect from Citibank's Hench men.

These guys are just awful. It's almost like they intentionally try to confuse you so you'll give up in frustration and just go away. I tried to pay the full balance of my HELOC loan within the first 30 days of the initial drawdown. The payments kept bouncing back for no discernible reason, and I kept seeing $150 fees being applied to my mortgage account for every returned payment. It took a full month and many phone calls before my attempts at paying off the full principal were finally successful, during which time they applied a month of interest to the account. So the following month I paid the full balance shown on the account again, only to receive another statement balance the following month showing that I owed more than I thought.

The servicing support with Cenlar is so extremely frustrating. Every time I call, I get a different answer on the same question, and a simple request takes weeks. For perspective, I'd rather have to call the IRS than these folks.

I’ve had a very disappointing experience with this company. There seems to be a serious lack of organization and communication. I've been trying to resolve an issue regarding my escrow balance check for over three months, and each time I speak with a representative, I get a different explanation. It’s incredibly frustrating and exhausting. While they’re quick to follow up with repeated calls if a payment is even slightly delayed, they don’t show the same urgency or consistency when it comes to addressing customer concerns. At this point, I’m extremely dissatisfied and would not recommend this company based on my experience.

Crooked as can be, I asked for help and filled out the application for the program. They in turn sold my loan 4 days later and didn't tell me, until I called and said I had an offer on the property per the program requirement, then I was told my application was canceled, then they reported that I was 60 days late in my payments when the house had been sold before the first payment was even late. Now I'm fighting to have that changed on my credit report.

I left a previous review of Cenlar, stating I cannot speak with a live person. Someone from Cenlar called, I could not understand what they were saying, he sounded as if he was asleep. I need clarification regarding my loan that CitiMortgage states Cenlar is servicing.

I have never been late on my payments until Cenlar took over. They have poor communication, a minimum of 30 minutes on the phone before a person picks up, the push products that are not a fit the homeowners need. And they don't have loyalty to the people that are doing the right thing. If you find yourself in a bind with this company reach out to others in the same boat and hire a lawyer and start a class action. They don't care about the stress they cause, and they don't care about the loans they take over. They take over loans just long enough to make you late then charge you with late fees and then sell you out to someone else.

Horrible company. Father passed away and a week before we paid off the balance showing on the account via the bank he originally got the loan through, then after he died suddenly the account had a $100 balance still owed and Cenlar would not discuss the account with any of the family members. They rather the account go into delinquency so they can add late fees and such. Fast forward two years and they final agreed to let me discuss the account after they started foreclosure process (again for a principal of $100) and only after I got ahold of the law firm they hired to start the process.

Very poor business practices. Predatory and driven by greed. After my wife passed away they want to modify my loan to add 11,000 to the payoff, 10 more years to the loan and increase the interest rate by 3 percent. Modification? This is helpful? And a VA loan to boot. VA is ok with this. Absolutely no regard for life events, just your m o n e y.

Our home loan was sold to Cenlar. They had the home loan for four days in which that time we made a payment. Since then, Cenlar has sold the loan to Village Capital. You cannot speak with an agent at Cenlar. On the automated system it states that any money paid will be transferred to the new loan company within 60 days. It's been well beyond the sixty days, and our new mortgage company has still not received the first payment we made

Worst company to use. I had mine loan changed over to them years ago. They try to foreclose if my payment is 14 days late. 2 weeks, they are not supposed to start that until 120 days not 14days. How do they legally get away with this? They have been told to stay the hell off my property because they love to try to send over goons to intimate me.

Without a doubt the absolute worst company I have dealt with in my life. They leave automated messages for me to contact them and then when I call them they refuse to talk to me. They tell me I owe a specific amount, I send them that specific amount, they reverse the payment, and then assess me a late for not making a payment. No department talks to any other department so I have repeated the same thing over dozens of times only to get the same run around. No one wants to solve the situation and here I am two years later in the exact same mess.

Simply the worst collection of Can't Do, brain dead customer service personnel you will ever encounter. You'll start out hating their 5 minute phone tree to ever get anyone on the phone, but you'll progress to despising the people who you do talk to even more.

Dear Sir/Madam, I am writing to formally lodge a complaint regarding ongoing issues with my mortgage account at [Credit Union Name]. As a loyal customer for over 30 years, including 13 years of smooth loan management directly with the bank, I am extremely dissatisfied with the recent mishandling of my escrow account and the subsequent payment discrepancies after the loan was transferred to Cenlar. I request immediate clarification and resolution of the following concerns:

This company customer service is cold, impossible, super slow and the opposite of consumer friendly. Never again. For example, I called to give them a new mailing address. They said I had to do it in writing. I send them a signed written request. After a month, I called to check status. Now they tell me I can only do it through the website's secure message portal and I had to attach my license. Each time I call they have a bad connection and the agent is not friendly.

Citimortgage dumped our loan to the mercy of Cenlar. The most irresponsible and predatorial company I have ever done business with. Our check payment for February has been sent twice and received twice by Cenlar. After mailing the first one and being told it was never received, we overnighted the second one and requested signature of delivery. In spite of having proof in black and white of receipt of our payment They are on the phone all the way to the top telling us that they don’t have the payment and adding a late fee to our balance. For the love god, how are this people still in legal business is beyond my comprehension.

I'm a Navy veteran who served 8 years with Honorable Discharge. During COVID I was terminated from my job. After finding another job that job laid me off a week later. This impacted my financial situation and I filed for a "Home Modification" through my mortgage company CENLAR. For 2 years now I've been fighting to simply get "approved" for that same modification. They've allowed me to live in the house however they've played games with me this entire time. I'm currently working (with stability for two years) and the mortgage company continues to take me through daily hoops. One day they say I'm "approved". Next they say "additional paperwork". This tactic has gone on for the two years. I've never been in foreclosure. As a veteran this tactic has played a serious hold on my mental and physical health. I simply want to move on with my beautiful home and continue with the approval modification process and fulfill my monthly payments.

After paying OFF my 7999.00 HELOC loan in June 2023, I discovered through my insurance company that I still have a loan on the books. I logged into my old account and realized that they had not sent me my notification of release from the mortgage, despite the $8111.00 that I sent them. They now want an additional fee of $295 for this document and, despite more than a year without hearing from them, are sending me daily emails about this fee. That is, despite giving them more than $10000.00 for a loan of $80000.00, they want more money to close my account.

I had a va loan on McKenzie Grade in Alabama. The house had 40 acres around it. They foreclosed my house for lack of payment. I was waiting on a loan mod which federal law says a loan mod has to be given to all VA mortgages before foreclosure, none was given. I had deeds and owned the 35 acres around the parcel the house was on. All the correspondence I received stated they were only going to seize the parcel that the house was on. I leased the other 35 acres out which I owned with deeds. When they seized the house they illegally seized the other 35 acres which I owned taking all the belongings on the other 35 acres to the dump. The people I was leasing the land to had a home they took to the dump. And all of their other belongings and my farm equipment and everything else. This was robbery, it ruined my reputation and cost me everything.

This is the worst predatory lender!!! They are theirs and sneak in late fees from previous months, they charge multiple annual fees, they raise interest rates as high as they possibly can. Even the customer service lady I spoke with said this is a predatory lender who steals money.

Getting a Cenlar Central Loan is like borrowing money from pirates. They will charge you an annual maintenance fee, charge extra interest for your loan amount and if you pay off your loan they will charge you extra money for paying off your loan. Please try to stay away from this company. Customer service is a joke for this company.

2 years ago we purchased a home from a person who had a line of credit with Cenlar. When the loan came due we bought the home from the person who couldn't make the payoff. It was extremely difficult to make the payoff as cenlar tried to run out the time, so they could foreclose. We have since evicted the renters living there boarded up the home and started remodeling. Last week while on vacation cenlar sent their Gestapo group safeguard properties code enforcement to the home, tore off the siding entered the home (which still has previous renter's personal property) and changed the door locks with a lockbox outside. Unbelievable no way this is fact. The sheriff's office came out and filed a breaking and entering, but the company from back east would not provide the s/o with any information on who broke in. It was one of their vendors.

This company is horrible and I have two loans left with them and will refinance them shortly! I refinanced one of my loans and had an escrow refund coming, however, they sent the check to the property address, not my mailing address which was my fault as I had not changed the address. However, I went in the site to update my address and then called in to customer and the representative updated it on her end and put a stop payment on the check. We had to wait two weeks for the stop payment to clear and then wait for them to send out another check. We waited two weeks and no check. Called back and was told it was sent to another address. Ridiculous! Was then told that the previous representative made a mistake that the primary borrower had to upload in the message board a request letter with an ID in order to change mailing address and it would take 2 to 3 days to update.

Cenlar deliberately delays veterans from receiving their entitled benefits causing extreme financial stress to veterans and their families. Please consider revising your veteran policies to align with federal law regarding VA borrowers. Our veterans deserve better.

Predatory lending, terrible customer service. If you have a loan with them get out. Applied payments meant to go towards the principal to next month's interest even though that month was already paid. Added random fees when trying to make principal payments. Forced placed incredibly expensive insurance when I already had it, did accept evidence of coverage. Can't recommend enough how never anyone should use them.

Do not get a loan that is serviced by Cenlar. Cenlar is helping people lose their homes due to escrow not being able to be used for tax/insurance increases. Even if your escrow is not short. Cenlar services over 100 mortgage company loans.

Terrible website. Auto inexplicably took two months despite saying it was set up successfully causing a late payment. After late payment, less than $200, which was the first on a HELOC, I was told I would need to FAX a letter in explaining the late payment and to have access to funds. No willingness to address the reporting of the late payment to credit agencies. 2 years later the auto pay is working but I get a notice for an unpaid annual fee. I go on to my account and there is no mention of it and obviously no way to pay it. This is the worst experience I've had with a company.