Seterus (formerly IBM Lender Business Process Services)

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Satisfaction Rating

Loan sold to Seterus with no notice. I prepay my mortgage monthly, so it has never been late, plus we pay additional monthly. Every experience I have had with Seterus has been awful. I am refinancing just to move my loan away from them. My latest experience with Seterus: June 2nd, 2017: Sent the necessary forms and payment to Seterus, to request cancellation of PMI. June 7th, 2017: Seterus received paperwork and check, as shown stamped on CK# **. June 8th, 2017: Seterus sent a letter acknowledging receipt of necessary information and payment. Informed Elaine that an appraisal had been ordered and an appraiser would be in contact in approx. 3 business days.

July 6th, 2017: Elaine called Seterus customer service, spoke with Christine **. Christine reviewed the account notes and saw the above mentioned correspondence between Elaine and Seterus. Christine sent an email to the escrow department to inquire about the delay on the appraisal, as nothing had been noted in the Seterus system. Christine suggested that Elaine call back in a few days to check on the status again.

July 12th, 2017: Elaine called Seterus customer service, spoke with Alicia **. Alicia reviewed the account notes and saw the above mentioned correspondence between Elaine and Seterus, along with the email request from Christine. Alicia again informed Elaine that there have been no responses and no additional notes to the account. Alicia would again email the escrow department to inquire about the status. Alicia set up a call back to Elaine for approx. 6PM on 7/18/17, rather than having the customer call back again.

July 18th, 2017: By 6:45PM, Elaine had received no call from Alicia with Seterus, so Elaine called Seterus customer service again. Elaine spoke with a customer service representative (did not get her name), who again confirmed that nothing had been accomplished, no response had been received from the escrow department, no other notes had been posted to my account. This representative wanted to send yet another email and asked Elaine to call back in one week. Elaine informed the representative that this was no longer acceptable and she would like to speak with a manager. After holding for several minutes, Elaine was able to speak with manager Cindy **, who promised to escalate the issue and give a return call on 7/19/17. She also stated that she would inquire about giving a credit for the two months of PMI charged and paid, while this has been going on.

July 19th, 2017: Cindy ** did call back and informed Elaine that she was able to speak with the escrow department to get the name of the company responsible for conducting the appraisal review. She spoke with Old Dominion to get this file moved to priority and someone would be in touch with me by close of business on 7/21/17. She also left her direct number with Elaine to contact her back, should there be any additional issues with the PMI cancellation or appraisal review. July 21st, 2017: No call concerning an appraisal. July 24th, 2017: Elaine gave a call to Cindy **, to inform her that there was still no call from the appraisal company, but received her voicemail. Elaine did leave a message for Ms. **, but never received a call back.

July 27th, 2017: Elaine called Seterus customer service, spoke with William **, to request a refund, as Seterus has not held up their end of the agreement. William put in the refund request and informed Elaine that it would be 2-3 weeks for processing. William also instructed Elaine, if contacted by the appraisal company, do not schedule the appraisal, since we were cancelling this request and refunding the fee. As of 08/09/17, we are still waiting for our refund. July 31st, 2017 (9:34am): Elaine received a voice message from Catherine with Destiny appraisals, to schedule the appraisal for my refinance. Elaine did not return the call, as this service had already been cancelled.

August 7th, 2017: Elaine received a bogus letter from Seterus, dated 08/02/17, stating that they were unable to get in contact concerning the appraisal and therefore were refunding the cost of appraisal. This is bogus because Elaine had already requested a cancellation and refund, but this was not mentioned. The letter sent was drafted to make the company look as though there was no negligence on their part, which is false. Elaine did everything that she was responsible for: no late or missed payments on this mortgage since inception with Seterus, as we prepay monthly; enough equity built up into the property, as the current loan amount is approx. $106K and the equity is approx. $170K; complete the request form and pay the appraisal fee, all which were done. The assistance given by Seterus to complete this task was ridiculously poor.

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As a tax payer, I fought in the home owner fraud crisis, where banks/ lenders defrauded Americans. What I found was that Seterus was part of a scheme manipulated to remove the names of criminal banks and to give the appearance of servicing homeowners, when in fact they were a shell to attempt to reduce liability from banks that were in violation of lending laws, servicing laws, foreclosure laws, and several RICO laws/regulations. One bank in particular paid over 30 billion in settlements to avoid allowing the public to see the egregious violations, such as using the "blank endorsed note" as a means to trick municipal courts into believing that they had legal standing when in fact evidence showed they sold the notes into a public security trust and had no legal standing.

This was the biggest financial fraud in American history and the CEO of the two largest banks, the head of treasury and the head of New York Fed were in on it. Seterus was an organization that provided relief for the banks that were in violation and it was an additional attempt to hide fraud, displace Americans, and violate homestead laws.

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HORRIBLE, HORRIBLE, HORRIBLE. Will not recommend them to anybody. I'm in the midst of refining my house and Seterus, Inc is my current loan. Getting ppwk from them takes days. It's always 7-10 business days to get it back to you because you have to go through different departments to request them and once you request them, you have to wait 7-10 days to receive it even through a fax. But when you're in 15 days grace period of paying your payment, they call you and ask you when you are going to make a payment.

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Our Mortgage was first with Countrywide, then Bank of America and then Seterus. Our initial experience was horrific.. Terrible customer service and the supervisors were even worse. It went on for several years. I complained to Fannie Mae (the owner of our mortgage) and I wrote letters to Seterus that went to their Consumer complaint Department. It was there that my correspondence started to be addressed by a wonderful lady named Sarah **. Believe it or not, she has changed our opinion of Seterus.

We are now in a modification that has helped us save our home, reduce our monthly payment and now includes an escrow to pay our taxes. Before we had to come up with $5,000 for our taxes and that burden is lifted. Yes, we still have to pay, but the modification makes it a lot easier. Sarah is always available to help and explain any issue and works diligently to help the customer. My advice... Write letters, include all details, contact Fannie Mae if they own your mortgage. Do not waste time calling customer service... They are of no help.

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Today I asked for my pay off quote and lo and behold I received it right away. I immediately sent the money through my online banking so they will receive it tomorrow. I have talked to them today and was told that my escrow and release of deed should happen within 30 days (we will see). All in all my experience hasn't been quite the nightmare that others have experienced.

Last year when I started to pay significant amts off on my principal I experienced some difficulty getting the funds properly allocated, at one point they had me paid about 6 months in advance. I spent much time and talking but they always seemed to get it straightened out before the next month. I found the best way to pay the monthly payment was brought my online banking bill pay feature. They always wanted me to do it through their bill pay or authorize hem to deduct it every month from my account but I like being the one in control.

I have learned a lot dealing with this whole pay off thing with Seterus. Now I hope they get everything right with the pay off. Using your online banking bill pay will make it much easier to keep control over your payments. Logging on to their website frequently will also let you know exactly what is going on with your acct so you can nip issues in the early stages rather than be taken by surprise months later. I am not saying that working with Seterus has been easy but I am sharing the ways that I have discovered work.

Also recommend doing your own amortization schedules. They are easy to do and bankrate.com has one that I have used many times. If you use that then when you talk to them you have numbers at your fingertips that help you better explain your problems. I wish everybody luck in dealing with this very difficult company, and wish me luck that my pay off with them goes smoothly without some of the bumps in the road I have read about and prepared myself for.

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This company is a complete rip-off! Our home was initially financed through CitiMortgage. They sold our loan to Seterus. We have paid our mortgage faithfully for 10 years - no going into default, hardships, or anything like that! Recently we noticed that our principal amount doesn't seem to be moving even when we pay extra. The problem seems to be that we have an escrow account, so their response has been that our taxes or insurance was more. Okay, we're pretty sensible people; so we never fought that a whole lot. We were offered a great refinancing rate with the opportunity to pay off our home in less than half the time that we still owe. Seterus has put up every stumbling block possible to prevent this. All we need is a current mortgage statement and they refuse to send it out. They have repeatedly lied about not being able to fax from their home location and state that they use another company to fax.

They can't give you a specific time; one day they told me that it takes 3 to 5 days and another day they told me 10 business days. It has now been over a month, and I still don't have it. They put you off and off in hopes that you will stop asking. The people working for them also are rude and sarcastic! They attempt to read notes from every call but when you correct them by stating that's not true or not what we discussed - they act like you are crazy. I made it a point not to lose my composure with any of them. I let them know that I, too, document every time that I have called in requesting documentation. They even cut me off stating that I hadn't made my loan payment and I had to tell them that my loan payment is set up on auto-draft for the 15th of each month! I would give them a 0 if it were available! I hope someone sues their butts! All I want to do is get away from them!

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11 years perfect payment history. March payment coupon had wrong address. Corrected issue then April’s payment went to escrow and Seterus hasn't corrected their issue and it's now June 12th and only way to make a house payment is by phone since they refuse to send a bill for the month, 8 times since March I have called them plus faxed them. I'm about ready for some legal help.

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My original loan with CitiMortgage and was sold to Seterus loan servicing. I was in a trial modification and had retained an attorney who was able to arrange the trial. My payments were not late and after the three months a final modification was sent to my attorney in which he was dismissed prior to the first payment of the trial. The attorney sent the modification back to the lender and I did not know where it was so I contacted the lender and they said, "You didn't sign the final but you sent it back." Explained the situation with attorney and it didn't work so I then was in default. Then I paid $8700 to bring the loan back to normal as they said it was but then two weeks later they sent me another bill for $2500. I am dying and my wife is very ill and these people are rude and refuse to help us keep our home. We were just paying out money and they kept giving us sale dates. What can we do?

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I have a similar story to many of the reviewers here so I won't waste your time repeating mine. We had a mortgage with Chase that was bought by Seterus. We had no say in the matter. Seterus is absolutely the worse company ever. Every review on here is accurate in that Seterus intentionally will waste your time, energy and take your money. Their customer service staff is only allowed to read from their inane scripts. You can hear the frustration in the employees voices, they may want to help you but they can deviate from the script. Get away from Seterus as quickly as possible.

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I have had many poor experiences with IBM-LBPS/Seterus. They would misappropriate my payments all the time by applying the entire amount to a 'suspense account,' which is illegal. To put them on the right path, what I had to do is send a letter along with each payment telling them how to apply each payment and stating clearly any other application thereof is fraudulent and punishable by fine and/or imprisonment. If one does not know how to figure out the interest portion, here is the formula: (i*Loan Balance)/12, so if you owe $100,000 and your interest rate is 6%, your interest portion is figured accordingly: (.06*100,000)/12 = $500. That is the only way I could straighten them out, so I had no further problems.

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As I spoke with the Seterus representative in April and again June 1. It was obvious they are trying to steal my dad's house. They got the loan from Bank of America. My dad went into the hospital from a broken hip. He got behind on the mortgage. He worked out an agreement for a modification. Their terms were a 90 trial for an automatic withdrawal each month on the first and if he honored it, he would receive the modification documents in the mail. I told him he better call before April 1 since he never received the documents to double check on things. The representative on the phone said that since my dad DID NOT PAY his original 90 days, payments on time, he did not get the modification granted. I took the phone with permission to speak and said, "Ma'am... we have bank statements that show you people took the mortgage out of the bank every month and the payments have cleared."

The lady on the phone put us on hold and YES, LO AND BEHOLD... "Oh my, yes, I DO SEE WHERE YOU DID PAY. LET ME ESCALATE THIS RIGHT AWAY TO MY SUPERVISOR." SHE SAID... “And get you your documentation in the mail. And, let me get this fixed where it will show you did pay on time.” So, we asked, "Will the automatic payments remain from now on?" “Oh no.” she says… "You have to verbally allows us to do another 90 days." What??? Why?? we asked. She said, “Because...” so, my father authorized verbally another 90 day auto withdrawal for his mortgage payments. While we are still waiting for the modification documents in the mail… you know, the check is in the mail? Well, here we are, June 1 tomorrow, and, Seterus has been blowing up my dad's phone, so we called them back...

LO AND BEHOLD, AGAIN!!! The representative is trying to collect payment for JAN, FEB AND MARCH of this year and we had already supposedly resolved this the last time. I told her, "Look, you better get into your notes and get this fixed. I don't know where you are putting my dad’s payments, but he has been making them.” She said that it shows that he did not make his payments. I wanted to scream. I said to her, “You better go through the notes and find where he paid or I am reporting them to the feds for fraud, money laundering, and mortgage fraud". AND I DID, I REPORTED THEM TO THE FBI. I SURE AS HELL DID. THIS REP told us that the money was never credited to my dad’s mortgage…?

She claimed there was a "glitch in the system" and again, he had to verbally authorize his auto withdrawal... And then they raised his mortgage claiming a delinquency in the ESCROW… ALL OF SUDDEN. THIS IS SUCH **! THIS COMPANY IS COMMITTING FRAUD. IT’S FRAUD 101. GO TO THE REVIEWS. Go see what they are doing to everyone… We all need to go to the FBI, report mortgage fraud page and report them. Do it.

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If I could rate Seterus a -0-, I would. This is the worst experience I have had with a home loan. Their customer service is terrible, rude, non-responsive. It is impossible to communicate as you have to go through 10 menus to get a person, they don't email, only fax and mail... who does that? Loan was sold by Chase to this group, if you have a loan with them refinance or do whatever you have to, to get rid of them. Paid my loan, on time, for over 5 years, getting ready to sell and they added an additional $800 to my balance, on my Pay Off statement, claiming the legal / administrative fees were from 2012. Never reflected on my statement for 5 YEARS, no notices sent, they will not provide detail, will not respond. How they can still be in business as I see hundreds of reviews with similar experiences, is beyond me. Something needs to be done and I will make sure I complain to every agency available and will go legal. It is not the amount, it is the principle.

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We recently sold our home and have a contract on another home. Got a call today from the title company as they are needing the payoff of our mortgage from Seterus. Seterus is quoting 7 to 10 working days to prepare a simple payoff quote. The title company says every lender or mortgage servicing company they contact always provides payoffs in 4 to 5 days. 7 to 10 is not only ridiculous, it is causing us to delay the closing on both the sale of our house and the purchase of the next house. That translates into rescheduling all of the utilities, the movers and is a general pain because Seterus is so far behind the times with technology. To rub salt in the wound, I can go online with Bank of America, who is our lender on our second mortgage, and get an instant payoff online. We did not choose Seterus as our loan servicing company, they were forced upon us. If you have a choice stay as far away from this company as possible.

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These people are the scum bags of the earth and once you find yourself having to deal with them be prepared for the nightmare of your life. My loan was sold them by Chase and at that time I was experiencing a hardship due to the lengthy recovery from a neck surgery. When I called Chase after selling an asset to phone in 2 payments was when I was told Seterus was my service provider now. They demanded I make all 3 payments and their fees or NOTHING!! It was one lie after another. When I would gather up funds they would just tack on more fees. 10 months of pure hell and the only way I was able to get the foreclosure stopped was by coming up with almost 15,000 and demanding everything in writing before wire transferring the funds. I also consulted with a Fannie ** loan counselor. That was a key factor I believe.

You can expect to be on the phone NO less than 40 minutes per call and never will you be able to talk to the same person. If you get a manager named Anthony HANG UP!! He is the devil himself and took pleasure in tacking on over 2,000 in fees once I had come up wit the reinstatement figure given and a day late due to their Loss Draft Service Dept. QBE. They are a bunch of incompetent morons and Seterus is a bunch of lying crooks.

We had nearly 100K in equity in our home and they were foaming at the mouth to get their hands on it. They were trying to out me in a hole so deep I could never sell enough assets off in time to get out. So they thought. Demand everything in writing and find a local HUD housing agent to assist you. NeighborWorks is one in my area. I am recently current with my loan and thinking of selling it just to be rid off these slimy scum bags. If you find yourself in the same place with them as I did, I am very sorry for your misfortune.

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Seterus is stealing my escrow. Escrow fell behind in 2016, in 2107 sent amount to catch up. In 2017 made payment with additional amount to cover all escrow needed for 2017. Trying to make payoff. Seterus is asking for the same amount that I already included with payment. Plus for my payoff amount they asked for bogus amount above my normal payment amount to cover escrow. If I sent in the amount they are asking for to cover escrow I would be approx. 800.00 over the amount needed for escrow. And they have not paid my past due Real Estate taxes yet. So wish me luck with this well known unethical 'debt collector'. Fannie Mae you should be proud. I'm sure you have lots of very happy customers. By the way, they take 35 days to respond to a fax. They ask that you call them that way there is no written proof of your correspondence. Cover yourself when dealing with a less than trustworthy corporation.

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I am going to sell my house just to get away from this company. This is what happened to me. I contacted Seterus, Inc. in late June of 2015 and I informed them that at that time I was caring for a family member who had been diagnosed with terminal cancer. He died on 06/29/2015. He lived in Westchester County, NY and I live in Suffolk County, NY. I informed the person I spoke to that due to mounting expenses related to the care of my family member the July payment would be late, a few days beyond the 15 day grace period. Those expenses included daily round trip travel in excess of 100 miles and round trip toll charges that in the NY metropolitan area are simply outrageous. My expenses also included airline tickets for elderly relatives who lived out of state.

"You don't have to make a late payment," I was told. The Seterus Customer Service Rep. presented the option of dividing the July 2015 payment into 6 monthly installments that would be added to the subsequent monthly mortgage payments but that in order to do so I would have to set up automatic withdrawals of the corresponding amounts from my checking account. I specifically asked if this arrangement would negatively impact my credit report and was assured that due to the fact that the payments had been set up as auto-pay, this would “not even show up on the credit reports, guaranteed”. As a result of the information provided to me by their employee, I agreed to the arrangement.

Needless to say, the assurances given me were incorrect, either the person I spoke to was woefully misinformed or they flat out lied to me for reasons I can only speculate upon. Not only did the late payment appear on my credit reports, it appears as 6 months of late payments. (Equifax) Also, what they told me was a processing fee is listed in their written response as a late charge assessment. In the first place, had I been truthfully informed, I would not have agreed to this arrangement. In future financial dealings, that one late payment could be explained and the explanation bolstered by showing the death certificate, etc. But 6 late payments is another matter entirely. And second, there were not 6 late payments; the subsequent payments were made automatically and on schedule. I discovered this in March of 2017 when I went to get "Pre-Approved" for a vacation property I was interested in purchasing.

I contacted Seterus and requested by phone and in writing that the negative information be removed from my credit reports. Their written response was that they reported the dates that the funds were received and how they were applied and that these payment histories details the installments were satisfied outside of the month that the payments were due. Subsequent telephone calls requesting to speak to a supervisor were met with stall tactics. No one is ever available. They then claimed that the decision was not made by Seterus employees but by a consumer government affairs committee and that Seterus has no decision making power in this instance and that as far as they are concerned this is a closed matter.

Obfuscate, stall and lie must be the marching orders this company uses. Their people are either poorly trained and do not have a clue as to what they are talking about or they are well trained to lie and say whatever they have to in order to get at your money. We have no choice as to who our mortgage company transfers the servicing to but if your mortgage servicing gets transferred to Seterus, look out. I would suggest to you that if your state allows it, record your telephone conversations with Seterus and keep the recordings until your mortgage is paid off in full, keep copies of all your correspondence including cancelled checks, etc. They are not a reputable company and are not to be trusted. Count your fingers immediately after you shake their hand.

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The disrespect we have received from Seterus Inc is horrible. They played with my account! I have a business account on file!! That only I'm authorized only to uses! They called me and my husband when we had a payment behind! I'm mean 8 time a day calling back to back until 9 pm!! They called my husband who is not authorized to make payments on my business account but bothered my husband so much that they authorized a payment when he did not have permission! I told them that we did not have fund but they went ahead and charged my business account! That made me fall in default!

I told them we did not have funds and they continued to charge my account when I had no money in it! Then they did this three time with unsuccessful attempts due to no funds in account! So then they cut me off from making payment over the phone! I asked for managers to call me back and they never did! They lied to us and took our Mortgage from 30 yrs and made it 40 years! That's flipping fraud!!! I need a lawyer in regards to this complaint! This is BS!!! How this company Seterus Inc can destroy people credit! Like they did ours! I'm outraged over what they did to us! And need a top manager to call me!!

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I have tried for nearly 2 years (unsuccessfully) to reinstate online access, receiving 2016 Interest Income 1098, monthly statements for to my loan which was taken over by Seterus for servicing. I have called no less than 7 times with no resolution. I am trying to find and speak with the Corporate Executive Office but can't get past the customer service reps. The last Seterus rep I spoke with, "Wesley," hung up on me. Isn't it a federal law to send out 1098 statements by Jan. 31st?

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It has been three years and 4 months since my home was completely destroyed by a fire. My home was built in 1920 had no central HVAC and a fire started in the chimney, everything was destroyed. My insurance company (Va Assoc) was great, but they only covered 114,00 for the rebuild and 11,000 for living expenses during the rebuild. We spend over 185,00 to date, 20K removing the old house, grading and installing a new septic. This would not be a huge deal if they would release the balance of the 114,000 they have held for 4 months. I decided to buy a modular, thought it would save time. I endorsed the check and sent it to the mortgage company Seterus and they handed me off to QBE First. What a nightmare.

I called asking about how the payment scheduled would go if I bought a modular, because the home builder would not let the house leave without being paid in full (79,000). Seterus/QBE First told me after the house was build and scheduled to be delivered for the 3rd time they would not release the funds. I have to borrow money from family (lucky for us that was an option). They caused the schedule to fall behind because of all the cancellations so when the rental funds were exhausted we moved into a travel trailer with my 73 year old father and 3 German Shepherds in January when it was 9 degrees outside. I won't even get into the long stories of lost paperwork or faxes that I had confirmations on but they did not receive it causing more delays of the schedule.

I also could not believe Seterus/QBE charged me for lender place homeowners insurance for over a year on a house that was not there. It took me 1.5 years and countless phone calls, letters and tons of hours of wasted time to have that money returned. Now the house is complete and they return my agents insurance bills and won't pay them out of my escrow because nobody there knows there is a house on the land. Not sure how they missed that since they were overseeing the rebuild. What a MESS.

The house has been complete since December 2016 and to date (03/2//17) they still owe us over 10,000 which they won't release until they come perform a 3rd final inspection which they have canceled on us twice and I have been asking for well over 60 days. Guess they can hold our money and do whatever they please with no regards to the homeowner. Each call takes 2/3 attempts along with a 30 to 50 minutes on hold several times and the last three days I have called they tell me different stories.

After the second final inspection I called them and they said the roof was missing along with the hot water heater and foyer. Yeah right, I am sure we would have passed the County inspection, obtain an occupancy permit and live there for 5 months without those items. DUH. They did have two or three small legitimate items, small area of paint, a few feet of base board, all that has been completed and cost less than 200 to compete. The General Contractor has been waiting on his retention for 4 months and wants to take them to court. Should they take into consideration the old house was built in the early 1900's, was small, had no central heat and an out of date septic system.

The new house is twice the size, the heating system is new and I only owe the mortgage company 30 percent of the new home's value. Guess not, do you think they will pay me interest on the money they owe me and will they come to court when the GC sues me and let the Judge know why they have not paid him? They will be receiving an invite, let's see if they show and how much longer they will delay a simple inspection and the release of final funds. Such a joy to work with a business like Seterus and QBE First especially after a tragedy of losing everything you own but the clothes on your back to a horrible fire.

My homeowners insurance company (Virginia Farm Bureau) was great! They were responsive, supportive and paid quickly. Seterus and QBE First could take some lessons. I wonder if they even have any quality control? I will keep this post updated and let everyone know the outcome. I am writing some Virginia State regulatory agency's today. They seemed very hopeful on the phone and it just might help.

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I have been harassed by Seterus almost every day or every other day or perhaps 2x a day. I was wondering if anyone is suing Seterus for harassment. I cannot stand it. Their reps are rude and on the borderline of threatening. They actually told me if I was two months late, it would go on my credit report and could start proceedings to foreclose on my house. I recently found out that Fannie Mae now holds my account and Seterus is still the collector. Anyone suing Seterus for the above or can I sue for the above. I'm not a lawyer so I don't know.

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I recently (1-18-17) paid off my house with Seterus. I have been making my payments to them since late in 2014. In December of 2015 after receiving escrow account disclosure statement with a balance of @ 1600.00. I called to have 1000.00 applied to house balance. The 1600 was way too much in the account at end of year. I was told that the escrow account and the making payments cannot ever be mixed together.They are two separate entities. At the time I thought fair enough. On October 13 I received out of the blue a final payoff statement for just under 2000.00. I had just sent in 2800.00 so I would not be able to make final payoff for a little while. At the end of Oct., I called and received another final payoff statement. I had some unexpected money coming in and the house was the first thing I was taking care of.

End of November comes around and still waiting on windfall when my end of year escrow statement comes in mail. When adding in account minimum there is 2500.00 in the escrow account. Once again I call and ask since the payoff on the house in just under 2000.00 and the escrow account has 2500.00 how about I pay off the house using the escrow account. Sounded reasonable to me no? Well once again I am told it was 'against company policy' for one account to have anything to do with the other. As of 12-1-17 using the verbiage on the statement... 'The projected beginning balance 1-1-17 in your escrow account is 1920.89. Your required balance is 551.86. This means you have a surplus of 1369.03" this is the exact wording. So come the 5th of Jan. I mail in payoff. I wait till end of Jan. so paperwork can be done before calling.

End of Jan. call and ask about escrow surplus and if I will receive anything saying house is paid off. No one knows anything about neither question because according to them I sent final payment to wrong address. So I wait till mid. February and call again. In the mean time I am receiving paperwork in mail and the paperwork states there is no escrow surplus. The one problem with that is there are only 3 payouts every year. June 1st, August 1st, and October 1st. So how does any stand alone account with @2000.00 go from that number to a big fat zero while payoff/out nothing... I will be the first to admit that my payment history this past year was NOT the best. But I did make the late payments. While being behind at times this past year, my house was paid off in January 2017...

The actual loan payoff was March 2018 so I did manage to have my 15 year loan paid off in 13 years 9 months. Am going to accountant on Wednesday if numbers to him are what I think. Already have appointment with lawyer Friday morning. There shouldn't be this type of outright STEALING trying to pay off your home... To top things off I received some sort of payoff letter today. Toward the bottom is a line that states "Satisfactory account" the X is in NO box on an account paid off well over a year before it had to be.

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I've really just realized (or have just woken up) that I've been paying $900 a month since Jan 2005 for $114,000 loan and today (March 20th, 2017) I STILL AM AT $114 000!!! SOMEONE BETTER TAKE NOTE! This is a SCAM of a company or of some sort for I know by this amount of owing $114,000 for 12 years NONE of My payments have went to the principal amount!!!

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My mortgage is serviced by Seterus. First off the website and my account on that website is almost unusable because every time you log in it asks you to change your password to move forward. About half the time it locks you out for trying to change your password and there is no way to deal with that without calling them and going through the 30 minutes of prompts to get to a real person. This happened recently when I tried to get my tax form online cause the envelope they sent me in January that said "important tax info inside" only had my bill. It's March and I'm still trying to get my tax info from them.

Because they are primarily a collection agency they treat me like a bill dodger, calling two and three times a day if my payment is even one day past due but always well within the 16 day grace period. Who does that??? They overcharge for payment by phone but make paying on their website such a pain in the ass (see above) that you're either paying extra by phone or spending time and countless phone calls. They get your account on their website to work so you can still pay a buck of a service that should be simple and free. You don't pay extra at the grocery store that have the teller take your money do you? Let's put it this way, they make me wish they had never bought the service account for my mortgage from Fannie Mae. That's bad. I don't need to refinance but I might do it just to get away from Seterus. My credit union won't sell my contract.

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Seterus Inc., should be put out of business. Never informed me when applying for modification loan, that there would be a $9000 balloon payment at the end of 5 years. Said it was in the agreement I signed, but failed to mention when applying. This company should be investigated for non disclosure. How does a business like this operate, by stealing your money without you even knowing it. I would have never have signed the loan had I been informed of a balloon payment. Thanks Seterus for making my retirement a nightmare.

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How Can Seterus Forget Their Properties Address? I called Seterus in several occasion that I did not receive my Form 9080. Seterus forwarded the document 3X to different address. CRAZY! Money hunger Seterus. Foreclosure the Coy will not forget.

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To describe my experience would be the worst experience of my life. I thought divorce was the worst but hands down dealing with this mortgage company is the worst experience by far. I have been given the run-around for over a year and getting nowhere. I have applied for a loan modification 3 times based on my hardship, i.e. divorce and income for over 14 months to date and no positive feedback. I am not in foreclosure but had a complete stranger from the mortgage company come to my home asking if anyone lived here and taking pictures of my home. Luckily my parents were over visiting and told the man to leave.

Where is the privacy, I have lived in my home for 15 years raising my two daughters. I have involved a 3rd party Non-Profit Assistance Agency to assist in reviewing my hardship and experience and I am confident I will be able to stay in my home. I am a single divorced Mom working two jobs to be able to provide for my two daughters and raise them in a safe environment. Shame on you Seterus for treating me like a 3rd class citizen. I am Middle Class citizen and will not accept anything but a loan modification based on my hardship. Warm Regards, Middle Class is still alive and breathing!

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Until now I had no problem with Seterus. Today I talked to the rudest 2 people I have ever talked to. They always ask me my financials. Why do they need that? Very shady. If you are late but still in your grace period they call and harass you and ask you about your financials. I talked to someone named Asia who put her rude supervisor on the phone and she grilled & grilled me & was asking me what I do with my money? How dare you ask me what I do with my money! I am sent a complaint to the BBB & now I am reaching out here. I would love to be included into a class action lawsuit against this corrupt company! Does anyone know of any?

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Seterus has taken over my mortgage from Ocwen in 2015. It has been an absolute nightmare dealing with them. The customer service center is HORRIBLE!!! The representatives are poorly trained, do not know what they are talking about and take no initiatives to problem solve or help customers. Knowing that I would need help with my mortgage I tried to get ahead of the situation by reaching out to them early. I got the necessary paperwork together, sent it in and reached out to them numerous times via telephone. Each time I got a different representative with a different answer and different paperwork to fill out. I have now been dealing with them for 5 months because of paperwork. Nothing is being done for my mortgage and each time I call Seterus... I get a new knucklehead who has no clue what they are talking about. I give up! Trying to do the right time doesn't seem to work with this particular company. It's as though they want you to fail.

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Our mortgage was sold to Setarus. We were renting the property after we moved. Had a rental agency. In July 2016 the renters stopped paying and caused damage your the home. We contacted a lawyer. They got out. We hired people to fix up the property to sell. There is a for sale sign and lock box. Only the lawyer, a family member and realtor have a key. It's fixed up and secured. We have been paying monthly. Our realtor informed us a company shut off all utilities. Inside and out. No idea how they got in.

When calling the mortgage company they said we had abandoned the property and they had to protect their investment. They gave us the runaround and blamed US for not living there. Really?? It was completely illegal for them to send a company in our home that is paid for every month, cared for by a rental property and has a for sale sign and lock box. How is that abandoned??? They give us no answers at all. They were very rude, and could give us no real answers. Kept saying "how do you know it's not abandoned?" BECAUSE WE PAY MONTHLY AND ARE SELLING IT!! We just put 15 grand into it, pay monthly, but they said it's abandoned. Our realtor was shocked at how they are doing things and recommend we sue them. We will be contacting a lawyer Monday. This is the worst company we have ever dealt with.

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I know how the scam works. I figured it out. I called Fannie Mae and now they just keep me on the run adding charges through Seterus. Keep your records people. I need an attorney to contact me to get a lawsuit against this company going. Not behind but there are more than one players in this scam. Please please notify me ASAP. They are trying to take mine and other people's homes. Again I figured it out how they are doing it? I need help to bring them down. I can't do it alone but I have started the process?

Seterus (formerly IBM Lender Business Process Services) Company Profile

Company Name:
Seterus (formerly IBM Lender Business Process Services)
Website:
https://www.seterus.com/