Consumer Complaints and Reviews
I bought my home in 2004 from German American Bank. By 2005, CMC had the loan. Over 10 years of me pressing to get insurance and the initial property tax esterline paid. I'm a disabled American Veteran living in Indiana. Veterans in Indiana get benefits for property tax on homes and vehicles. Initially, I had to pay taxes so they escrowed that money in. But after the first year with Homeowners and VA benefits the taxes we $0. It took 10 months of sending document after document proving this. It also took 10 months of me sending documents and my insurance sending and resending documents to get them paid.
Every September I contact my insurance company first to see if the bill is ready, put them on hold, call CMC, put them together and stay on until CMC verifies they have the bill and tell my insurance company what date it will be sent. Then I call my insurance company on that date to ensure they have it. Pretty ridiculous process but I got tired of it 12 years ago. I'm just now hearing about the superfluous legal fees. I'm going to start digging into them after September, they total 3 times one monthly payment. If I have any luck I will post again.
Approximately 5 yrs ago Central Mortgage offered us a modification loan and we accepted but they didn't tell us the hidden surprises that followed soon after. Each year of the 5 yrs period they kept increasing the monthly payment and now they recently send us via Fedex an offer they called ‘take it or we foreclose your house’! They're more than doubling our payment now and if we don't accept their offer they will start foreclosure proceeding so we're using the equity in our home to pay them off through a specially equity loan from a different lender so it will free our home and we can stay put. If you're with this company may god help you. They really suck big time! We wish we could sue them but that's just a pipe dream now.
I am extremely upset & disgusted on the way my short sale process has been handled!!! I am upside down on my mortgage, because I now owe more than what my home is actually worth. I applied to do a short sale in September, when my home was placed on the market. There is a young lady named Bri that has been nice and helpful each time I have talked to her, and when I asked about a Deed in Lieu (DIL), the request was granted by the processor. However, nearly 2 weeks later, I called to check on the status of the DIL, and was told by a woman named Debbie that they cannot do the DIL because I have a secondary lender... NOT NEW NEWS! Having a secondary lender is information I have discussed with them before, so why is it all of a sudden a surprise!?
Fortunately, even when I thought they were going to grant the DIL, I never took my home off the market, and I ended up receiving an offer. On October 14, 2005, my realtor emailed CMC a 16-page document including information needed for the short sale offer. I just called today to get an update, and I was told that my case has been closed because they have not received any documents! I go into my email and read the email response from CMC saying the information has been received. She then speaks to Brian, the assigned processor, and he says the file had been closed, and there was no contact number for the realtor... to which I point out page 2 of the document which includes my handwritten "Letter of Authority" on the realtor's company letterhead! How do you not notice a phone number on company letterhead!?
What this means to me is that you did not look through the packet, and/or you are very incompetent and have no idea of what you are doing, especially since the young lady looked at the packet and saw the number! This is already a difficult time for me due to everything I have going on, and the fact that this process is being handled so poorly just adds more stress and is very upsetting! I am so disgusted right now!
I called and got someone who knew nothing and said that I had missed payments just before getting a loan mod and they tacked them back on. I'll check but I don't think I did miss any. I asked her if she knew that to be fact about my account, or was it just a likely scenario. She finally admitted she fabricated it. I think it was more of an answering service.
I got a printout of a few year's worth of payments, and man, do they tack on fees! There are random attorney and inspection fees. What? The worst thing is that my payments are inflated by $200/month beyond what's needed for principal, interest, and escrow items. They just tap into that for anything they want. When I add it up I am probably going to blow a gasket. They did modify my loan, but, my payment went up because they forced the escrow and added that $200/month. The rate I got was not that good - 4.5% and they extended the term which might mean I'll pay more than I was before.
After we bought our new home, the mortgage was sold to Central Mortgage Company. We were having property tax and insurance impounds, however, during this first year, we got more than one property tax bill - and Central Mortgage only paid the first one. When we discovered this, we had to pay $500 in penalties in addition to paying the subsequent tax bills. I called and wrote to Central Mortgage and told them I didn't want this to happen again and requested that I pay the insurance and property taxes myself. (Which I had done with my previous residence.)
I have a very high FICO score, low debt to income and a very low loan to value. In other words, there is little to no risk for Central Mortgage Company to allow me to pay my own taxes and insurance. They said that they would do it, provided that I pay .25 point. (Oh, and I have to wait until I've had the loan for one year as well.) In other words, they insist on charging me $$ to lessen their workload! I have decided that I am simply going to pay off the mortgage and be done with them.
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I've had a CMC mortgage for 2 months and they've sent back payments both months. They do not accept partial payments. Ok, but when the check was for an obvious transcription error, WTF. The check was off my less than .01%. The first time they called to say that they just sent back my payment, but they needed a payment for the exact same amount. What? The guy who called hated his life and demanded to know the date that I was sending in the payment for the exact same amount.
They charge $5 for online payment. How much does it cost for a guaranteed payment that is automatically processed to the correct account? Yet, they charge. They are trying to force people into issues or charge late fees. They are terrible. I have had 4 mortgages with local backs and three with BOA, Wells Fargo and UMB. This is the worst mortgage company I've ever dealt with. Ask your lender, particularly PrimeLending, if they are planning to sell your loan to CMC. If so, run away. I hate CMC.
We were behind 3 months. They said we qualified for a loan mod. We did the 3 months. Husband wasn't home to sign the documents. Next thing they are saying we are 7 months behind and it went to a foreclosure lawyer. Never once were we told that we didn't accept it we would get butt ** for those 3 months.
I have seen many reviews bashing this company for some their practices. My experience has been just the opposite. Central Mortgage has done everything correctly on my home mortgage from paying real estate taxes and my homeowner's insurance a month ahead of schedule. Automatic payments are posted correctly. Their website clearly shows how the payment is posted for principal, interest, and escrow. Escrow reviews are clear. Expect your payments to go up as property taxes and insurance increase. Central Mortgage does not make any money out of this. In fact they will pay you some interest on extra money if there is a surplus.
Looking at the complaints appears to be largely with homeowners with shaky financial situations. Never start missing payments or defaulting on your mortgage. This is worst thing that a homeowner can do. Your house can be seized in as little as 3 months of non payment of your mortgage. The deck is stacked against you if you slip up. Every mortgage company had the right to do this. It is in the documents you sign. If you can't afford the mortgage you should not be in the house.
Central Mortgage had left me a pain that would linger for the rest of my life. The company and RE/MAX Signature connived together, broke into the house while the foreclosure processing was Pending in court. They changed the lock, ransacked the whole house, vandalized our things and cast away with many value items. I fell hard seeing what they did to us. Falling hard left me with neck dislocation till today.
Trying for nine years to get rid of PMI. We owe 168000 my assessment. We just got the house - is worth 200000 but Central Mortgage wants us to pay for a appraisal. That's wrong.
I have received a package from you via FedEx and also an E-mail inducting my property has been referred to foreclosure department because my mortgage is been delinquent. Let me put these facts in front of you. I never been late on making my monthly payment since I have been with your guys at all, your company are refusing to take my payment of $18677.66 specially for last two month. So I am depositing my monthly mortgage payment on a trust account at a bank to prove to them I have paying my mortgage on time.
Also check your customer service of all calls I have been making every month before the due to date. I am at a point to take this case to Los Angles superior court for the game and harassment your guys playing to take over my property. In order for you to understand what is going on with my situation, you have to refer to more than 50 E-mails I have been send to following people, ** and hundred of calls I already made.
Central Mortgage Company Little Rock Ark Lou ** conspired with Elisa ** at Nationwide Title Palm Harbor FL also with Elizabeth ** at PLM Lender Services Inc in Campbell Ca & GB iNLAND Properties, Ticor Title Riverside CA together knowingly carried out a unlawful default and unlawful foreclosure sale on a current loan by fraud in real estate transactions. CMC was only servicer.. CMC hired Ca law firm of Adleson, Hess & Kelly, Wright, Finlay & Zak to escape Liability and conceal fraud! CMC Collected nearly $100,000 in Attorney fees taken from my surplus funds!
I am an attorney in the Los Angeles area with a pending action against Central Mortgage. The case arises out of improper servicing and placement of force placed insurance. However, during the action, Central has been wrongfully charging its attorney's fees to my client's account. I have added another cause of action to the complaint to address the attorney's fees issue. If you have also had Central's attorney's fees charged to your account, please contact me as soon as possible. Thank you.
I experienced a slow income month due to surgery. I was not late or in trouble with debt. I called to ask if they would take one late payment or none that month and let me make it up. They said that required a loan modification, that the Government said so, and that I had to be late two payments. They said they would also convert my ARM to a fixed. So, against better judgement I skipped 2 payments and then got their loan mod package. That was the beginning of over a year of constant lies, lost paperwork, changing terms, etc until they turned me down. They didn't use a legal method to turn me down. We fought back and forth and they gave me lies about how much I had to give upfront for the mod, etc.
Months went by with another turn down and another request for a mod package. About that time, courts were hearing cases about such nonsense and states were putting safety programs into place, so Central said they were giving me another chance. Then they started a foreclosure! They had purchased my loan from a dead savings and loan, and used MERS to do it. Funny thing was they never transferred the loan to their own name until JUST before the foreclosure. Some of the documents were pure fraud. Based on all the evidence, the judge threw their foreclosure out of court. THAT started 2 years of nothing. Some paperwork once in a while and they repeatedly sent back due paperwork to us instead of trying to loan mod.
9 months ago they changed to JUDICIAL FORECLOSURE and filed suit on us. We requested a loan mod process and were approved. The court trial was extended. We were told that our second mortgage and a judgement lien by a horrible ambulance chasing lawyer named Daniel ** in lower Oregon made no difference, that Central could do the new loan without anything from them. I have them RECORDED twice, telling me that SO, I was told I had to make THREE TRIAL PAYMENTS before they would start on my paperwork. We did. Then at the end we were told there were title issues. We paid for a 4th month. Now they say that all liens and judgements have to subordinate or be paid off or they will not loan mod. They just SCREWED US AGAIN for $4800 in payments, and maintain that nobody there told us to A: stop making payments, B: That nothing was needed by title from the junior mortgage and judgement!
Now the judicial foreclosure trial is set for 2.5 months from now and the only thing I can do is bankrupt and lose our house of 21 years. If, 5 years ago, they had just told me no about skipping a payment, I wouldn't be losing my house. I have a legal firm that wants to do a class action suit for people told to stop making payments, and for taking people's trial payments then turning them down. Anyone interested?
My loan servicer is Central Mortgage Company. I finally got the modification to save my house. But the Central Mortgage Company added all the legal fees ($26,000.00) on me. Which is unfair. Looking for lawsuit or joint class action lawsuit. Good luck guys!
We were also bought by Central months after closing and moving into our condo, this without any notification or choice. It was okay for the first year and then wham!!! we got a new coupon book out of the blue, mind you we never had a coupon book in the first place. I opened it to find they were raising our mortgage $550.00 a month and said it was to bring up the escrow to the new tax base. We struggled through this and modified with them at the same time. It was a struggle to get the extra money together and the process of paperwork lost, not read and payments held over days before crediting began.
We were able to modify and get back down but wouldn't you know it, we get a letter in the end of the fifth month of the six-month agreement stating the person who did the modification made mistakes and they were raising it again. They added another $600 onto the payment making our mortgage now $1070.00 higher for the next seven months. This was so distressing and so convoluted that we needed to take this to our lawyer. We are here in New York and our lawyer in practice for thirty plus years could not make heads nor tails of their system, payments were applied and unapplied to our account and fees added all over the place.
The escrow never reached the positive and Central had no explanation when you get them on the phone. They will tell you the person you dealt with before no longer works there and they made mistakes. My wife and I had a letter drafted asking them to commit to the payment once we finished the payment plan and they did not. We made every payment by wire transfer and had a solid record and still in July when we wired the last payment spent days on the phone with a new person telling us we need to have a new three-month repayment plan. Well we pressed and pushed them and finally all the money was found and applied properly to the mortgage and we are on track and at the payment amount we should be.
This is the most distressing and arduous experience we have ever had in our life. We have had several mortgages on properties in the past and never had anything this crazy. We have had a mortgage on another property with Chase for eight years and have never had any problem. Central seems to be a very unorganized and young staffed company, we have to believe this or we will feel that we have been ripped off and money taken from our pockets and as Christians do not want that. Be very careful with this company, keep detailed records and receipts and look over every letter you get from them thoroughly.
My mortgage loan was sold to Central Mtg Co several years ago. Three years ago, I lost my job and was able to retire. I have never missed a payment or been late. I wanted to modify my loan just to get a better interest rate. I was sent the packet, filled out the paperwork but that still wasn't enough. After speaking with Manuela, I asked "what exactly do they want since I'm not in the banking field"? She put me on hold pretending to speak to her manager, came back on to say they were still reviewing my request. When she came back on the line, I was told I didn't qualify for a modification but I could do a forbearance which is pay half for three months and ruin my credit. I told her I see why people walk away from their homes cause we can't get any help from our mortgage companies after being loyal paying customers. It is very frustrating to know these people don't care about families homes. I'm in if there's a class action lawsuit.
I was a victim of mortgage fraud in 2008. My loan was purchased by Central Mortgage Company shortly after closing. I had a balloon payment coming due and knew I could not afford it nor the $5000 monthly payments. I reached out to the bank for assistance. They informed me I would have to be delinquent prior to them helping me. Under their advice I let my account go delinquent and reached out again. I was then told because I was delinquent they could not help me. They sent me a HAMP Package to complete. I filled it out and promptly returned it. I followed up a few weeks later to be told they had not received it. I resent it and was declined. Over the course of several months I received numerous duplicate offers to apply for HAMP. The bank sent me four letters all dated the same date stating foreclosure process has begun. I reapplied for the HAMP program only to be denied yet again.
It has been three years, $35k of legal fees, default and foreclosure letters every two months and now they claim I owe $30k for their legal fees. That American Rule states each side pays their own fees. Don't be fooled. Opposing counsel is still dragging their feet and I still receive threatening letters regularly. This bank has single-handedly ruined my almost perfect credit score. I cannot even get a credit card with a $100 limit because of Central Mortgage. The case is still ongoing and racking up more legal fees. I just want to pay my mortgage and not live in fear of coming home to find an eviction notice on my door after owning this property eight years. Our home is central to schools, our jobs, and family. I cannot lose it because of a banks ineptitude. If you have a mortgage with them, move it promptly.
I have mailed every single mortgage payment more than 10 days before the due date. They never process the check timely and claim to have not received 2 of 7. My mortgage payments were on time every time for 18 years with prior processor under same circumstances. They raised my payment when my RE taxes went DOWN! They are unable to be reached by phone and local processor NEVER returns calls. Do not allow you loan to be processed by this company! FRAUDULENT in every way!
My loan also was sold to central mortgage. I have a fixed loan and my payment has gone up twice in the last 2 years. I too was told my insurance went up almost $300 last year. Now I just get another notice a couple days ago, mortgage up another 45.00. Also my insurance had been lost a couple of times. Just finished reading some of the other complaints, to many similarity. Please look into this company. We are hard working people and do not want to be take advantage of.
I have tried to have my mortgage modified at least 5 times with Central. Each time I'm given incorrect information and thrown off to break deadlines. This last time I emailed all required docs to them at their 'singlepointofcontact' address. I called the next day and was told my case had been closed due to non-receipt of docs! After talking the wopman named LUPE into looking, she found them and said they had not been read. I asked how they could turn me down for non-receipt when they hadn't even looked to see if they were there. She couldn't answer that. Then I told her three emails were sent. She said they only received two. I resent the other email with the required docs and two days later, receives a letter saying I wasn't complete and past the deadline.
Lupe had told me I had ANOTHER ten days. Central lies and does everything they can to foreclose. Originally, they told me to stop making my payments to be able to modify - I had to be behind. I wasn't behind! I could have made payments. They dragged out my process almost a year then turned me down and demanded a huge back due including thousands in fees. I tried two other times and was told that I'd have to bring all the back due current. Now I'm told that wasn't true and they could have added it to the loan. They even apologized on the phone for whoever had told me that. I'm putting together a list of people who were told they should stop making payments - I am starting a class action suit.
So we are just a few days behind on our mortgage not even 30 days. So my husband calls to make our payment and they are very rude as usual. They asked him do you still live there? Is this your primary residence? And proceed to tell him we have a $11.00 fee to add that we must pay because they sent someone here to take pictures of our home. Now all of this was Monday night. Well on Wednesday at approx. 2:32 pm I see this man run on my porch and slap something on my door and run off. So I proceed to open the door and he's now in his vehicle taking pictures of my home from the road on some type of tablet and drives off. I'm sick of this harassment and can't take anymore. We have a lot of positive equity in our home and only a few days late on the payment. What can I do to stop this harassment and hatefulness?
Total unmitigated disaster dealing with this bunch of morons. They pass the buck, they never do what they say they will do and We have been trying to get Borrower Assistance for over 18 months and we are still back at square one - we have submitted two packages at the beginning of 2013 - we were told on the 4th December 2013 we have to submit all documents over again with a due date 4th Jan 2014. Considering they are just a mouthpiece of some bankers in California or wherever, it is a pity we could not deal with a REAL BANK!
I just received a letter informing me that I will be paying an extra $300.00 a month to escrow my taxes in. I did not want my taxes escrowed for this very reason. I pay my land taxes once a year. How can they change my term without my consent?
Central Mortgage did exactly what Nationstar is doing to me again. I tried to modify loan twice but they waited till close to sale date to requets former documents. I faxed documents over and over again. Last day of due date, voila, they're missing documents. I tried the third time and a month in the process with Credibility, I receive an email that Central had sold the house. They didn't give a crap about me being disabled, full blown AIDS, unemployed, minority, **. My 84-yo mother and I are homeless on the street now. I could have kept the house but first they annoyed my tenants and asked them to leave. They took my only income. They changed the locks and then forclosed and evicted us.
Nobody wanted to talk to me at Central and I was transferred from operator to operator. They had closed any communication with me. How can they lose papers, say they had not received faxes. I believe this is a tactic lenders are using to get rid of customers they think and don't want to deal with. Not respecting, caring of what people have to go trough. Things have gotten extremelly difficult with me and family. Something needs to be done in this respect. This institution does not give a damn about customers
Central Mortgage Company purchased my mortgage from a different company then started charging me $5 to pay online. I didn't choose this mortgage company. How can they legally charge me for making a payment if that wasn't part of my original loan?
In March 2009, we requested a loan modification from Central Mortgage Company (CMC) due to our interest only loan term that was due in December 2009. After 6 months of submitting personal HARDSHIP information over and over, CMC sent a loan modification agreement in September 2009, instructing to pay a certain $$ amount for 3 months, if less or more than instructed would void agreement. After paying less than our original mortgage amount for 30 days in the trial period, CMC sent a default foreclosure notice. After contacting CMC regarding the notice, the CMC staff told me, “Keep paying on your trial period payment. The loan modification department doesn't communicate with the foreclosure department." Meanwhile, penalties and attorney fees ($25,000 +) were being added to the loan.
After 3 months (January 2010), I contacted CMC to be told they never received the documents (agreement). A balance of $8000+ was due to cure the default balance. Due to the HARDSHIP, we could not pay. CMC forced us to stop paying ALL creditors and forced bankruptcy when the foreclosure sale date came due. Since bankruptcy, CMC still has monthly penalties attached to loan until the $35,000+ in arrears is paid. CMC forced 28 years of building a 740+ credit score to go under 500 in 3 months. We have to STOP this type of BAD BUSINESS PRACTICE. Post your story to protect other Americans from this type of criminal behavior. I recommend to use the following departments to file complaints: Better Business Bureau of Arkansas, Inc.; Arkansas State Bank Department; Federal Consumers Agency; and State Attorney Generals Office.
My home in Portland, Oregon was in the process of foreclosure and I had until May 5th, 2009 to settle accounts with Central Mortgage Co. or the foreclosure would proceed (I am relying on my memory here, but I think that date is accurate). Sometime earlier that week, I got an offer on my house for $650,000. That was well over $50,000 more than I owed on my first to Central Mortgage. I called and was told that if I faxed in all the paperwork so that it was there by the morning of the deadline, they would walk it through the steps and cancel the foreclosure sale.
Long story short, my realtor and I got all the paperwork faxed the evening before (I saved the confirmation of transmission). The next day I was unable to raise anyone at Central Mortgage so I called the trustee at NW Trustees to see if they had heard anything and they had not. Finally I got a person at CM on the phone and of course they couldn't find any of my paperwork. I tried to impress upon them the urgency of the situation but in the end got no action and my home was foreclosed. After I vacated the house, CM sold it for $750,000 to the same people who had offered to buy it from me. I have seen not one dime of the excess equity. Do I have a legal recourse? I know a lot of time has passed, but the emotional devastation is just wearing off and I finally have the strength to deal with this.
By the way, they refused to tell me who held the mortgage, saying that they had been forbidden to reveal that info. I finally got paperwork on the foreclosure that upon close reading revealed that JP Morgan owned the paper. Also, the mortgage was written in 2006 and I don't know if it was properly recorded.
Our home loan was refinanced through Greenlight and then sold over to Central Mortgage Company. We have had homeowner's insurance through the same company for the past 10 years (cars, home all linked together). Never once have we ever had a problem until CMC came into the picture. It started with them signing us up for a homeowner's insurance that was way overpriced with very little coverage and not paying the one we had in place which caused it to terminate (never contacting us).
Upon finding this out, we were told they were never given the information. After numerous calls back and forth (with Greenlight and CMC), we were assured by Greenlight all information was given to them. CMC then changed their story to say we never authorized them to pay our homeowner's insurance and they needed our permission (but did not need our permission to sign us up for this other policy). After several more calls, and more change of stories by CMC, Greenlight received an email from CMC stating they have the info on file.
In the meantime, we lost our coverage and longtime standing with our prior insurance. We re-signed up with our prior insurance, got things straightened out and even received a letter from CMC stating they will make the next month payment to our insurance (the one we previously had which they caused to be cancelled and we had to restart). Well, we got a letter in the mail showing a partial refund of the money they took out of our escrow account to pay for the bogus insurance and new charges for the same insurance they signed us up for before!
Upon calling them again, we were told they do not have our insurance on file. After arguing to get a supervisor on the phone and finally getting one, I was told the same thing. I advised him that Greenlight had sent them the info; they had responded with an email to them; they had sent us a letter stating they have the info on file and now they don't? He put me on hold and came back and said, "Oh, it seems there was a lapse in coverage!" And I told him that if there was, it was due to their neglect and fraudulent tactics and they need to keep better records being we have proof! He said he needed to "investigate" and get back to me and, of course, I pointed out what was with the partial refund then on their end. He said, "Uh... I said I have to investigate."
This company is fraudulent and steals from people and needs to be investigated! We have looked into filing complaints with the insurance commissioner. They have no license to do insurance; they have no license to do realty. We have checked with about 6 agencies that we were directed to by all the agencies and were told there is no license to do business of any sort in our state (California) or their state (Arkansas) or others. How are they doing business? We are out $3,000+ and still fighting them.
Central Mortgage Company (CMC) collects money on my behalf through an escrow (impound) account to pay my property taxes and homeowner's insurance. My homeowner's insurance was due 3/5 and didn't get paid until at least 3/11 and not until I spent three days on the phone and sending emails to get it corrected. I have had impounds in the past with different banks and have never had a problem until now. This bank needs to be examined by the federal regulators.
I was amused by all the complaints against this company regarding impounds. I will have to monitor these impounds closely now because this company's integrity is suspect. My wife and I have decided to discontinue our impounds with CMC as soon as possible. CMC says this can occur 12 months from the beginning of loan payments with a good history of payments. We will definitely be beginning this process as soon as possible.
Arvest Central Mortgage Company Company Profile
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