Arvest Central Mortgage Company

Arvest Central Mortgage Company Reviews

Little Rock, AR

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About Arvest Central Mortgage Company

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Arvest Central Mortgage Company (NMLS #186891) is a subsidiary of Arvest Bank, a community-based financial institution serving Arkansas, Kansas, Missouri and Oklahoma. The company, based in Little Rock, Arkansas, offers home and refinance loans, including conventional, FHA, VA, USDA and jumbo loans. It lends in all states except Delaware, Maryland, New Hampshire, New York and Rhode Island and services 99% of the loans it originates.

    Pros & Cons

    Pros
    • Competitive rates
    • Services 99% of its mortgages
    • Useful mobile app
    Cons
    • Not available in all states
    • No rate quote without completing an application

    Arvest Central Mortgage Company Reviews

    Stars Rating

    • 28%
    • 23%
    • 14%
    • 4%
    • 32%

    Popular Mentions

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      Page 3 Reviews 40 - 240
      Loan Process

      Reviewed Feb. 3, 2019

      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.

      Customer ServiceStaff

      Reviewed Jan. 15, 2019

      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.

      Reviewed Dec. 29, 2018

      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.

      Customer ServicePunctuality & Speed

      Reviewed Dec. 13, 2018

      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.

      Reviewed Nov. 6, 2018

      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.

      Customer Service

      Reviewed Sept. 21, 2018

      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.

      Customer ServiceLoan Process

      Reviewed Sept. 18, 2018

      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!

      Customer Service

      Reviewed Sept. 18, 2018

      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.

      Customer Service

      Reviewed Sept. 7, 2018

      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.

      Customer ServicePunctuality & Speed

      Reviewed June 23, 2018

      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!!!

      Customer ServiceLoan Process

      Reviewed June 14, 2018

      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.

      Customer ServicePunctuality & Speed

      Reviewed June 14, 2018

      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.

      Verified purchase
      Loan Process

      Reviewed May 16, 2018

      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.

      Punctuality & SpeedLoan Process

      Reviewed April 16, 2018

      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.

      Customer ServiceLoan ProcessRatesTransparency

      Reviewed April 13, 2018

      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.

      Verified purchase
      Customer ServiceStaff

      Reviewed March 30, 2018

      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.

      Customer ServicePunctuality & SpeedStaff

      Reviewed March 26, 2018

      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.

      Reviewed March 21, 2018

      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.

      Reviewed Feb. 27, 2018

      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.

      Punctuality & Speed

      Reviewed Feb. 12, 2018

      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.

      Rates

      Reviewed Jan. 30, 2018

      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!

      Customer ServicePunctuality & Speed

      Reviewed Dec. 29, 2017

      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.

      Reviewed Dec. 2, 2017

      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.

      StaffLoan Process

      Reviewed Nov. 26, 2017

      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.

      Customer ServiceTransparency

      Reviewed Nov. 17, 2017

      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.

      Staff

      Reviewed Nov. 15, 2017

      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!

      StaffLoan Process

      Reviewed July 29, 2017

      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.

      Customer ServiceLoan Process

      Reviewed July 13, 2017

      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!

      Customer ServiceStaff

      Reviewed July 8, 2017

      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 **.

      Verified purchase
      Customer Service

      Reviewed April 5, 2017

      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.

      Reviewed March 31, 2017

      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!!!

      Customer ServiceLoan Process

      Reviewed Aug. 23, 2016

      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.

      Punctuality & SpeedLoan Process

      Reviewed July 21, 2016

      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.

      Customer ServiceStaffLoan Process

      Reviewed Oct. 29, 2015

      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!

      Customer ServiceLoan ProcessRates

      Reviewed Aug. 27, 2015

      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.

      Customer ServiceLoan Process

      Reviewed Aug. 18, 2015

      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.

      Customer ServicePunctuality & SpeedStaff

      Reviewed Aug. 8, 2015

      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.

      Reviewed June 2, 2015

      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.

      Punctuality & SpeedOnline & AppLoan ProcessRatesTransparency

      Reviewed April 9, 2015

      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.

      Reviewed March 28, 2015

      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.

      Reviewed March 13, 2015

      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.

      Verified purchase
      Customer ServicePunctuality & Speed

      Reviewed Feb. 18, 2015

      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.

      Loan Process

      Reviewed Feb. 6, 2015

      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!

      Reviewed Dec. 7, 2014

      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.

      Punctuality & SpeedLoan Process

      Reviewed Nov. 20, 2014

      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?

      Reviewed Oct. 30, 2014

      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!

      Customer ServiceStaffLoan ProcessTransparency

      Reviewed Sept. 9, 2014

      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.

      Customer ServicePunctuality & SpeedStaffRates

      Reviewed May 15, 2014

      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.

      Customer ServicePunctuality & Speed

      Reviewed April 23, 2014

      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.

      Customer ServicePunctuality & SpeedLoan Process

      Reviewed April 19, 2014

      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!

      Staff

      Reviewed April 9, 2014

      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.

      Customer ServicePunctuality & SpeedStaffLoan Process

      Reviewed March 31, 2014

      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.

      Customer ServicePunctuality & Speed

      Reviewed Feb. 19, 2014

      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?

      Reviewed Dec. 15, 2013

      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!

      Reviewed Nov. 3, 2013

      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?

      Customer ServiceStaffLoan ProcessTransparency

      Reviewed Sept. 13, 2013

      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

      Reviewed Aug. 23, 2013

      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?

      Loan Process

      Reviewed June 9, 2013

      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.

      Reviewed May 29, 2013

      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.

      Customer Service

      Reviewed May 10, 2013

      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.

      Customer Service

      Reviewed March 19, 2013

      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.