Arvest Central Mortgage Company
Little Rock, ARConsumerAffairs Unaccredited Brand
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.
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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.
They charge a 10-dollar fee to pay over the phone and a 5-dollar fee online. My loan company recently sold my loan to this company and they have never sent me statements or coupons to pay. They won't waive the fee and can't rush payment coupons to me. They are difficult to get on the phone and rude when you can. DO NOT purchase a loan through this company!
We bought our home in 2013. It was supposed to be our retirement home. My partner of 31 years passed away and left me with one income. I applied to Central Mortgage 8 times for assistance. 8 times they turned me down. They called, sent letters and even came 912095 to my house. This went on every week for over 1 and a half years. They constantly harassed me. I was stressed to the max. I had gotten behind by 2 payments. For a year and a half after getting behind I sent payments with late fee the first of month. I couldn't get caught up and they would not assist me tho I knew they could. They jerked me around until I could no longer put up with the stress. I sold my retirement home at 65. They destroyed my credit and now I have no choice but to rent. This in my golden years. Just know this. Karma is a bitch.
This is the second time a mortgage I have/had was transferred to this company. One time with a previous house I owned and now with my current house. Customer service is a joke. The company is very unprofessional in handling affairs such as escrow. They over collected on the escrow account and ignored my calls to tell them they were doing so. When they supposedly returned the overage the check by mail it never arrived at my house.
When I called to inform them of what happened they said they did their part by sending the check, and that I'd have to fill out some forms to cancel the one they sent and reissue another. The amount of the check was over $1,300. They tried to blame the post office for not delivering it, then suggested someone stole it out of my mailbox which by the way is a locking mail box and isn't possible without damaging the box. Bottom line this money belongs to me and was over collected on purpose. I believe it is their responsibility to get this money to me and their obligation doesn't end with a "the check is in the mail" comment. They did not of course offer direct deposit.
Arvest Central Mortgage is like a cheap virus, they don't go away until they get all their money and then they laugh in your face and this is what they tried to do to us until we were able to pay off our old mortgage. Well this is for central mortgage: You suck big time and I really feel sorry for those who are dealing with your stinking blood sucking company and I hope one day you go down in flames and rot in hell!!!
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.
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.
Arvest Central Mortgage Company Company Information
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- Arvest Central Mortgage Company