Mortgage -- Closing on a mortgage -- Complaint #5303695
Complaint Overview
Complaint ID: 5303695
Company: Money Source, INC., The
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Closing on a mortgage
State: California
ZIP Code: 94565
Date Received: 2022-03-09T12:00:00-05:00
Date Sent to Company: 2022-03-09T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am working with XXXX XXXX XXXX on refinancing my current home. Our current servicer, The Money Source ( TMS ) has been giving me so much grief about obtaining the correct payoff quote. We requested the payoff letter ( attached ) on XXXX and to this day have not received a payoff letter with the correct numbers. We were hoping to close last week but because they have given me the runaround, all my other creditor payoff quotes have become or soon will expire. I have been assessed late fees from my credit card companies, and surely will be reported as having late payments to the major credit reporting bureaus. Not only this- the reason TMS is refusing to update the payoff letter is because they are claiming I owe them roughly $ XXXX for a partial claim that HUD has ( and has paid off ) on my home. In XXXX I applied for a forbearance on my mortgage loan because I lost my job due to the COVID pandemic. In XXXX, I started working again and began making payments. The amount that I did not pay during the forbearance period went into a partial claim with HUD or XXXX. I signed the documents and have notarized copies ( attached ) of the promissory note and deed with states this. However, TMS will states that I owe them for the partial claim. The title company that I'm working with received a payoff letter from HUD/XXXX which states I owe them for the partial claim. I just want to refinance and finally be done with TMS - they are the worst company in the history of companies. They never call me back when I ask. And I've asked them since XX/XX/XXXX to take care of this partial claim issue. They've told me that it was taken care of and I believed them, only to be fooled. I was in the phone yesterday for 2 hours trying to resolve this issue. A supervisor did not want to come to the phone. First they said all supervisors were helping other customers and towards the end of my call, I asked for a supervisor again and the rep told me all supervisors were in a meeting but she promised to request a call back from a supervisor. This is what they say each and every time I call but I NEVER receive a call back. I have to be the one to call.
Frequently Asked Questions
What is Complaint #5303695 about?
Complaint #5303695 was filed against Money Source, INC., The regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2022-03-09T12:00:00-05:00.
How did Money Source, INC., The respond to this complaint?
The company responded with: "Closed with explanation". The response was not 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 Money Source, INC., The?
Yes, visit the Money Source, INC., The company profile at readthecomplaint.com/company/money-source-inc-the 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.