Mortgage -- Trouble during payment process -- Complaint #4668067
Complaint Overview
Complaint ID: 4668067
Company: Mortgage Research Center, LLC
Product: Mortgage
Sub-Product: VA mortgage
Issue: Trouble during payment process
State: Virginia
ZIP Code: 22902
Date Received: 2021-08-27T12:00:00-05:00
Date Sent to Company: 2021-08-27T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
We wired a payment to Principal on our Mortgage for XXXX XXXX in the amount of {$7300.00} to XXXX XXXX on XX/XX/XXXX. XXXX XXXX did not apply {$7300.00} to Principal. Instead, VU divided that payment into 15 single principle and interest payments between XX/XX/XXXX and XX/XX/XXXX labeled as Monthly Payment, Unapplied Funds, or Additional Principal. Around XX/XX/XXXX, we found out the XX/XX/XXXX payment to Principal of {$7300.00} had not been applied to the Principal Balance because we had to do a call regarding a Refi on our Mortgage. As of today, XX/XX/XXXX, this major issue still has not been corrected. We have contacted XXXX XXXX numerous times. Our mortgage rep., XXXX XXXX, who has been excellent, opened several cases all of which have been escalated but to no avail. Whats worse, in the meantime, our Principal Balance on our Mortgage is far more than it should be, and we continue to pay higher interest payments, as a result of this grave error. This has been going on for 5 months, its unbelievable. One is left with the impression, that if our last name would have been XXXX, this problem would have never occurred. It does not take a month to resolve this issue. The payment mistakes are easy to see in our payment history and need to be reversed immediately into the Principal payment and apply as of XX/XX/XXXX. I will also include a screenshot of the incredible mess they caused. The interest charged on a higher principal needs to be credited to us immediately. And at the very least, a written public apology from the CEO must be issued. We are left with no other conclusion but that XXXX XXXX is oblivious to the impact its grave error has had on an XXXX XXXX XXXX family that has to move every 2 years or worse it is fine with our plight.
Frequently Asked Questions
What is Complaint #4668067 about?
Complaint #4668067 was filed against Mortgage Research Center, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-08-27T12:00:00-05:00.
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.