Mortgage -- Trouble during payment process -- Complaint #10353792
Complaint Overview
Complaint ID: 10353792
Company: Mr. Cooper Group INC.
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Trouble during payment process
Sub-Issue: Paying off the loan
State: Georgia
ZIP Code: 30014
Date Received: 2024-10-03T12:00:00-05:00
Date Sent to Company: 2024-10-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
The mortgage was paid off early and I requested an unearned interest statement and refund if applicable. They sent me a statement saying they owed me {$39.00} for 2 days of unearned interest. Per 15 U.S. Code 1615 ( b ) ( b ) Use of Rule of 78s prohibited For the purpose of calculating any refund of interest required under subsection ( a ) for any precomputed consumer credit transaction of a term exceeding 61 months which is consummated after XX/XX/year>, the creditor shall compute the refund based on a method which is at least as favorable to the consumer as the actuarial method. The way the rule XXXX 's is setup, I know it is for contracts less than 61 months, but it says that the creditor is at least supposed to compute a refund that is as favorable to the consumer and I don't feel that there computing was fair to me at all.
Frequently Asked Questions
What is Complaint #10353792 about?
Complaint #10353792 was filed against Mr. Cooper Group INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2024-10-03T12:00:00-05:00.
How did Mr. Cooper Group INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Mr. Cooper Group INC.?
Yes, visit the Mr. Cooper Group INC. company profile at readthecomplaint.com/company/mr-cooper-group-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.