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My grandmother had the company prior to it selling. She passed willing me with the house and my uncle as the executor of the estate. We hired an attorney for the probate, followed all of the proper steps in order to simply put me as an "authorized contact" to straighten out the account due to it being behind a few months prior to her passing. We provided Central Mortgage with everything they needed in order to make this SIMPLE change to the account until the probate is finalized.
Each time I have spoken to someone from the Little Rock location they were hateful and down right rude telling me nothing, but if I went to Arvest in my home town they went above and beyond for me giving all information to my lawyer then he would in return give it to me. A bit of a hassle but it works for now as a temporary fix. Needless to say once the probate is finalized I WILL NOT refinance with this company period! Counting down the days to do business with another company!!!!
I would give this company a ----0 if it were available. Our mortgage was bought out by this inept company. Constantly saying they did not receive proof of insurance and then adding coverage to our loan along with an escrow account. We paid our insurance on our own and did not require insurance. Not only did they add escrow but then would change the amount every other month causing my payment amount to be short, trickle down now they add on late fees and property inspection fees. Even after sending proof of insurance, continued to request escrow and add fees.
Made numerous calls to correct the issue that has now gone on for over 18 mos. Filed complaints in writing as I was told you could not talk to anyone directly in the escrow department with questions, I had to go through client services. Their written response regardless of my complaint was the same - our escrow department cannot find any fault on our end. Their activity should be illegal and investigated. Moving our loan from this company and will never allow them to service any loan we have in the future.
This company is a horrible company. They charge for online payment. They do not charge for automatic draft but setting up automatic draft is a pain. They will send out a form to fill and return with voided check. I view this as nothing more than a means to delay or discourage people from setting auto draft and squeeze as much money as possible from customers.
Mortgage was just sold to this company. Not off to a good start with them at all. Could not easily use their online payment system since it does not quickly and clearly show payment setup has been made and pending. So I tried again then I see payment pending 2x. Today I go back. Their site says processed 2x. So contacted my bank. They cannot help me until it actually withdraws from my acct. They suggested calling this company first except you can never get a hold of anyone. So I guess I’m paying 2x this month. Or I can dispute but that’s a process too so I will just let it go. Awful. What if I could afford this right now.
Oh and they charge a fee of $5 to make your own payment online yourself. I have owned houses before, never off to such an awful start. Bootleg cut-rate experience and with excellent credit, zero financial challenges, how did I end up with this horrible place. There ought to be some kind of tier system so this place can be rated and presented to customers and a Choice can be made.
Our mortgage was sold to them without our knowledge and consent. Five years later we needed a release of a small easement that included a row we wanted to convey. It has been 5 months and is still not resolved. Their customer service ranks the worst I have ever seen in my 72 years of being on this planet. Just try calling someone in customer service. You get a recording. You need to know the exact extension to speak to a person. Then you get their voicemail. They don't return calls to me or my attorney trying to fix this. Do yourself a favor and go elsewhere. They should not be in business. They forced me to pay around 1500.00 in fees to obtain this release. They charged me $870.00 for an appraisal when the actual appraiser did not charge anywhere near that much. They lie, they are so unprofessional it's ridiculous. They won't tell you who to contact to complain so I am resorted to posting this online. I would give them zero stars if I could.
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All the negative reviews are people who cannot manage their money or angry that their payment increased due to escrow or property taxes changing. I didn’t pick them; they bought my mortgage, but I have been nothing but happy. without any hunting or begging for information, I can see last month's payment and several months previous CLEARLY and easily in my history. They have a REAL-TIME Amortization Schedule, which shows exactly when the house will be paid off —1which changes (earlier) when larger payments are made. Been with them 3 years now, never had a problem, a “lost payment” or any other things the one-star reviewers said. If you have your mortgage on auto-pay, but change banks and therefore miss a payment, that is YOUR fault, not your lender's. I see no reason to change lenders. I like them.
If I could give 0 stars, that would be too many. Horrible company with an inaccurate customer website, horrible customer service and predatory practices. Just last month my account showed as paid but I hadn't seen the money taken out of my bank account so I reached to Arvest to see what was going on. They didn’t get back to me for 3 days, at which time I authorized another payment. My online account then showed as paid as of Nov 19th. Yet I still wasn’t seeing it taken from my checking account. I didn’t authorize another payment because I didn’t want multiple payments going through in one month and I hadn’t heard back from Arvest about my payment. They didn’t email again until 29 Nov to say it wasn’t paid and they’d be reporting it on my credit report.
I had never paid late in 3 years and now because they couldn’t manage to properly withdraw the payment, I’ve been charged late fees and have lost 71pts on my credit report! And to top it off, when I called to ask if they’d remove the mark from my credit since I’d always paid on time, they said they wouldn’t because they’d called and emailed. This is after I’d emailed multiple times to say I live overseas so I can’t receive their calls and I just received letters from them THIS week (mid Dec) saying my Nov payment was due. This company would be a joke except there’s nothing funny about having them seriously damage my credit because of their own incompetence and lack of customer service.
Our mortgage was sold to Arvest by our builder. They do not offer bimonthly payments as a rule and if you choose to set it up there is a sign up fee and payment fee each time and they do not apply the amount each draw. They hold it back and then pay the full monthly payment which does not benefit paying down your principal balance. Avoid their services or you will be paying more money in the long run.
If you are going to take out a mortgage with them, don't. They purchased my mortgage from someone else. Their customer service is awful. I have had to deal with them three times in five years. It reminds me of that movie "Boiler Room." They completely lack common sense. They increased my escrow. I forgot to adjust my auto pay. That is on me. They could have just informed me and told me to add it to the next payment. Instead, they put the entire payment to principal, charged me a $50 penalty, and charged for two mortgages. Rude, crass, and should not be in mortgage business.
This company has been so horrible to deal with regarding PMI removal on my account that is at 58% loan to value. Their customer service has been great UNTIL you get to the PMI department, where they offered to do very little to correct a mistake they made 10 months ago. They have been charging me PMI for 9 months now (and counting) and are not willing to give me the money back when THEY made a mistake with not canceling it. They conveniently can't find the note I sent them with the check I sent to get the mortgage paid down. They also removed my Facebook comments letting others know to be cautious of them. After they did that, they wanted me to trust that I never sent them a letter or called regarding PMI removal. It may be in the same file as the FB comments they "accidentally" took down. This company should not be trusted. Find a different bank!
Worst mortgage company I have ever dealt with. If you can get out of having a mortgage with this company don't do business with them. Terrible customer service and even worse online bill pay. Charged me twice in one month then blamed it on me saying they are at no fault. Most unhelpful and rude supervisors I have ever dealt with. Stay far away from this shady company. I'm sick. I can't work. They haven't emailed me important papers yet. I asked them for help. They told me to sell the house. They said to do a short sale. The worst customer service I ever had.
If you can get out of having a mortgage with this company... DO IT! Terrible customer service and even worse online bill pay. Charged me twice in one month then blamed it on me saying they are at no fault. Most unhelpful and rude supervisor (Jennifer) I have ever dealt with. Stay far away from this shady company.
This company never paid my insurance, property taxes on time. I received notices and late fees assessed and had to pay out of pocket. "They never received statements from insurance or county". It was false and they never reimbursed me for the late fees accessed... I almost lost my homeowner's insurance and it affected my credit. I had my house broken into and they wanted my insurance check to set up an account and they would reimburse me for my cost... in other words they were in control of my money that I have paid on my insurance. Of course that was after 3 different phone calls and letters and each was different. I would stay away from this company. I am going to refinance with a stipulation that it will never be transferred to this crooked company. They do not have customer service, accounts payable or even a type of pay-day cash receivables. Consider yourself a pawn in this company not a customer that matters!!!
My mortgage was transferred to this company immediately following my closing. I received an email from my insurance company stating that they had not received my escrow payment and would be charging me personally. I logged onto the Arvest website to update my info, and it had my insurance company with my policy number and amount owed; it also had my escrow balance, just sitting there, not sent to the insurance company. Also, if you want to do anything besides one automatic draft each month for your payment, expect to pay "service fees."
I called and spoke to customer service, who was very polite, regarding setting up 2 automatic drafts per month. That is how I have always paid my mortgage, never been an issue. They stated that they could set it up for a $200 fee that does NOT go toward your mortgage, and a $3.50 fee for each draft. There are other payment options too, such as paying over the phone with a representative, and that will cost you a $10 fee.
Immediately after buying my house, they took over my mortgage. One year later, I lost my job and got behind a payment, but even when I got a new job, I stayed one month behind on payments for several months. During that time, and still to this day, even though I am now fully current, they call me ever three days, without fail to ask if I will be making a payment, remind me my payment will be due by the 17th, and then again, and again as a "courtesy". It was very stressful to have them insist I go through their list of questions and confirm for them everything every couple of days. Then the fees they charged for my being late... legal fees, late fees... yes those would be expected, but even after catching up, they continued charging them. They had me stressed out and one caller even told me I could only be late so many times before they took my house. Had my credit not been ruined by this, I would have already refinanced my mortgage. Awful.
Provident sold our account to this shady company in 2016. Ever since we have had a horrible experience. They keep raising and lowering our monthly payments. They miscalculated our insurance payments and made it look like we pay $2000 instead of $1331 in insurance. They don’t log any of the info I have given them to try and correct my account. They offer no assistance to try and fix the problems we're having with their mix up. Total F grade company.
Arvest Central Mortgage took over my mortgage within months of closing, this is fairly common. However there should be a law in place allowing you a choice. If there was, I would never have chosen Arvest and I strongly suggest anyone reading this post to steer as far away as possible as well. I have PMI insurance on my mortgage, as required when you put down less than 20%, no problem. But here's what is the problem. I waited two years and paid all payments on time (auto withdrawal), I also waited until the value of my home went up 25% more than what I owe, but in Arvest's infinite wisdom, they base their percentage not on 25% of what you owe, but on what your purchase price was. This makes absolutely no sense since all other companies out there base it on a percentage above your current balance.
To top it off you pay them (their appraiser, you're not allowed an unbiased one, if your own choosing) top dollar for the appraisal and if they under appraise your home based on Arvest's screwy way of telling you what it has to appraise for, not only are you out $450 dollars for the appraisal, but you're still stuck with the PMI until you pay your mortgage down over the next 8-10 years until it reaches their prescribed 25 % of what you paid for the house. After speaking with two other banks, I was told that this is common practice with unscrupulous mortgage companies. I am sending a letter to the Arkansas and Florida Attorney General's office, making sure they investigate this companies practices. Who knows what other legal but unethical and immoral practices they use in their daily dealings with the general public. I also am writing an editorial to make people aware, so they don't get trapped like we did.
They took over my mortgage part way through, so I did not select them as my provider. I wish that the mortgage companies didn't do this, but the consumer's wishes never seem to count for much, do they? As of this month (April 2018), I think that they have withdrawn the last payment from my checking account. I received an inscrutable letter congratulating me about my loan approaching its payoff date. It goes on to mention that they have enclosed a "Payoff Letter for your loan", but immediately follows with "Receipt of this letter by no means obligates you to pay off your loan before the maturity date". Huh? So what am I supposed to do? The tone of the letter suggested that it was some sort of come-on to pay the loan off early. So I just ignore the letter and they will take the final payment automatically from my account, right? Like they have for the past upteen years?
Then someone called and left a message about paying off the loan. I called back and got some guy with a backwoods accent, who wasn't able to explain (at least to my admittedly untutored ear) what was going on. Something to do with a title release at the county recorder's office -- I guess. I got fed up and mailed them a check for what he said they wanted plus a little more, about $190. Meanwhile, they sent the letter again, same date. Now that I read the letter more carefully, I noticed that they won't accept a personal check to pay off this final amount... no, in fact, they charge an additional $25 if you try to pay them in this manner. So now I will get my check mailed back, plus a fine of $25 for paying them, plus (no doubt) interest? After years of having them withdraw money directly, like a needle in one of my arteries, what kind of a joke is this? Yet another industry sorely in need of more regulation.
I wish it was possible to give zero stars. I'd like to personally call out Jim in customer service for an 11/21 conversation. As well as Paisley and Rosanna on 3/30/18. All interactions require excessive hold times, lack of cooperation and refusals to put things in writing. They refuse to send out any notification letters (like your mortgage payment has changed) via anything other than snail mail. They lack accountability, honesty, and integrity. Speaking with them gives one that same icky feeling of greasy haired used car salesman. I have told my broker and realtor to stop sending their customers to them, and, I will go out of my way to never use them as a mortgage company again. You only have to glance at the other posts to see the track record of customer service that can only be described and dishonest and imbecilic, with a complete disregard for efficiency or logic or respect for customer's time.
Unfortunately, this company purchased the mortgage on my new house. They are horrible. Previously I had a mortgage through Chase (on a different property) - and it seemed like good service... Now I know how amazing Chase was... And just how HORRIBLE ARVEST is. They collect double escrow - and they also don't do an accurate escrow calculation (because if they did - my taxes wouldn't have been $2000/yr lower for the two years I have had them as my mortgage company).
And yes, don't ask if you can pay the taxes yourself - they want a $1000 to "evaluate" that. Complete crooks. This isn't just bad customer service - these people are crooks. (And I pay extra for my principal every month - so I am not a customer who has been tacked with late fees, etc and is just complaining). I am someone who wants decent fair service - STAY AWAY if you can. I seriously believe there should be a law prohibiting this type of purchase of my mortgage with such different policies and procedures as the originator.
This mortgage company is the worst company out there. I am a seasoned real estate broker 25 years in the business and I say do not do business with them. I had homeowner's insurance and they keep sending me letters saying they are going to tack on their insurance. And my insurance company sent them proof but I am still getting harassing letters from them. Now they want the previous year's policy that is basically expired. STAY AWAY FROM THIS COMPANY.
This company just bought out my mortgage. They charge to take payments unless you set up auto draft and charge you more to talk to a person. Never heard of them before and there was probably a reason for that.
Arvest Central Mortgage Co are the most crooked mortgage co I've ever dealt with, they mis-managed my account, charged me late fees for payments which were not late. I was forced to contact the Texas & Arkansas Attorney Generals on this dis-honest company. Steer clear of them if you can.
My mortgage was just bought by these idiots and in a month of having it jacked my payment by a couple of hundred dollars. They say they need to keep an extra $3000 in escrow to cover any possible overages in taxes. This is new construction in Illinois, a full tax bill is still 18 months away. By that time with the new rate I’ll have like $7000 extra in the escrow account when my taxes are $12500. Thanks for stealing my money... Oh and if I don’t want them to escrow my taxes, I hustled need to pay them $1000 for that honor. Crooks, every last one of them!
Unfortunately this company purchased my mortgage from another, so the only way out is to refinance and hope they don't purchase it again. They paid our taxes incorrectly last year which was the first problem, but I got over it. Then this fall, when Hurricane Harvey hit, I paid my mortgage in two payments a week apart because I was unable to pick up one of my paychecks from my place of employment due to being closed from the hurricane.
The mortgage company sent back the first check which I received two weeks later (after my payment was due). They then proceeded to charge me a late fee. I paid the account in full even though they kept half of the previous payment. I contacted Customer Service and NEVER RECEIVED A REPLY. I explained the situation and asked for them to kindly remove the late fee. Finally three months later, they decided to apply the overpayment and charged me the difference, but still collected the late fee at that point. Customer Service is a joke.
This company hasn't done nothing but harass me and sending me threatening letter about just every month. Lying that they receive information I haven't paid my taxes then sending me threatening letter that they don't have my Homeowners Insurance (they are annoying, disrespectful and will not leave you alone). I can imagine how they treat people that have miss a payments. OMG. Poor folks. I also ask them to send me a payoff 5 times in last 2 years. Not once did they honor my request. Their Escrow department are nutcases. They should be stopped of sending untruthful threatening letters to the customers. This week I am refinancing. They obviously don't want a perfect customer.
I don't understand all the negative reviews. My husband and I had a great experience with Arvest. We just refinanced at a lower rate and are saving over $300 a month. We also get to skip our November and December payment. I recommend Emanuel ** for you refinance guy. He is very knowledgeable and explains everything. He has made our lives better.
I bought a new construction house in June 2017 at which time the taxes were assessed on the value of the land at 12/31/16. When they reassessed my escrow they used the wrong tax amount ($6800) instead of the $5.67 for the winter. The summer taxes (which are always the higher amount in MI were only $30, so anyone with common sense and a brief understanding of taxes would know this is wrong).
I'm a CPA and when I attempted to explain to them and ask them to call the Township, they claimed the bill wasn't available until December 1st (only 2 weeks away) and asked me to pay an additional $3800 into my escrow that was unnecessary. After 4 phone calls I was told that I could send them a letter to request the amount I wanted to pay into the escrow. In effect, I recreated an escrow analysis using the proper figures. I'm not interested in these idiots holding onto my money in their bank account. If I could switch right now I would. I have no interest in ever being associated with them again.
Our experience with Arvest Central was one of the first we had in town. We were shocked that when we walked in the tellers said good morning, and treated us just like we banked there weekly. The mortgage representative was friendly and helpful. It's been over 4 years now, and she still sends my husband and I birthday cards... Not a big deal? It is, when they are signed yearly by her!
I've never had a problem with Arvest Central Mortgage. I've been with them for about 15 years with no issues. I'm in the process of refinancing now and they have been nothing but very nice and professional to work with! I recommend them.
Arvest Central Mortgage Company Company Information
- Company Name:
- Arvest Central Mortgage Company