Mortgage -- Applying for a mortgage or refinancing an existing mortgage -- Complaint #4749739
Complaint Overview
Complaint ID: 4749739
Company: Guaranteed Rate INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage
State: New York
ZIP Code: 11694
Date Received: 2021-09-23T12:00:00-05:00
Date Sent to Company: 2021-09-23T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have refinanced our mortgage for a property I own in XXXX RI in XXXX of XXXX. The mortgage was refinanced through a company called Guaranteed Rate ( XXXX ). Our lender prior to that has been XXXX XXXX. Once the refinance went through the mortgage was immediately sold to XXXX. It took XXXX two ( 2 ) months to set up our account during which time we made two payments to Guaranteed Rate using temporary payment coupons. I can provide copies of processed checks for those payments. I can also provide a screenshot of our statements from the previous lender, XXXX, showing that those statements end in XX/XX/XXXX as well as a screenshot of our statements from the current lender, XXXX, showing that those start with the XXXX statement ( due date XX/XX/XXXX ) to demonstrate the gap during which payments were made to Guaranteed Rate. The issue is XXXX says they have no records of those two payments being remitted to them. They sent us a 1098 with 10 months worth of payments and interest because thats what theyre saying we paid. The Guaranteed Rate representatives I spoke with said it looked like the money got stuck in your system somehow which is why we have not received a 1098 from Guaranteed Rate for those payments. After a couple of months of back and forth received a 1098 from Guaranteed Rate showing the interest from the two missing payments and now a representative I spoke with says it does in fact look like the money was never remitted. Problem is I started getting a run around from every representative I spoke with after that. After over 2 month of emails and questions going unanswered they unilaterally closed my ticket with no resolution or refund and the only option they're now offering me is to start a new ticket and the process of looking into it again. To summarize XXXX is still saying they never received those payments and now we have the 1098 from Guaranteed rate for them which means that they did and the money is stuck in their system. This means that Guaranteed Rate is holding two payments in the amount of {$2100.00} each for a total of {$4200.00} I would like to get those payments refunded so I can apply them to our mortgage directly with our new lender but I am getting no feedback or responses from anyone
Frequently Asked Questions
What is Complaint #4749739 about?
Complaint #4749739 was filed against Guaranteed Rate INC. regarding Mortgage specifically about Applying for a mortgage or refinancing an existing mortgage. It was received by the CFPB on 2021-09-23T12:00:00-05:00.
How did Guaranteed Rate 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 Guaranteed Rate INC.?
Yes, visit the Guaranteed Rate INC. company profile at readthecomplaint.com/company/guaranteed-rate-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.