Mortgage -- Trouble during payment process -- Complaint #12780060
Complaint Overview
Complaint ID: 12780060
Company: Mortgage Research Center, LLC
Product: Mortgage
Sub-Product: VA mortgage
Issue: Trouble during payment process
Sub-Issue: Paying off the loan
State: New Jersey
ZIP Code: XXXXX
Date Received: 2025-04-01T12:00:00-05:00
Date Sent to Company: 2025-04-02T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I have a XXXX XXXX with XXXX XXXX. In XX/XX/year> I started asking XXXX XXXX for payoff quotes. The quotes they provided were too large so I paid them in smaller amounts over the past XXXX weeks. As of XX/XX/year> my account ( including the Escrow ) is over {$6000.00} more than what I actually owe on the XXXX XXXX XXXX XXXX is refusing to close the loan and refund me what's left. They are instead trying to send past payments I've made back to my bank and trying to keep my VA loan open. They say it's their policy to only close loans if the borrower sends them a Certified check in the mail or executes a Wire transfer to them. But they already have over {$6000.00} more of my money than I owe. They refuse to help me resolve this. Previous Veterans XXXX XXXX told me in the past month that if the balance owed was {$2000.00} or less they could close my VA loan with a simple electronic money transfer as opposed to a Wire Transfer or Certified check being mailed to them. This evening I spoke with XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. I called XXXX XXXX XXXX XXXX. They refused to close my account and insisted they would be sending my latest deposit back to my bank because the payment was sent to them by Certified check or Wire Transfer. This despite the fact that they already are in possession of the money and additional excess funds in the Escrow portion of the account.
Frequently Asked Questions
What is Complaint #12780060 about?
Complaint #12780060 was filed against Mortgage Research Center, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2025-04-01T12:00:00-05:00.
How did Mortgage Research Center, LLC 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 Mortgage Research Center, LLC?
Yes, visit the Mortgage Research Center, LLC company profile at readthecomplaint.com/company/mortgage-research-center-llc 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.