Mortgage -- Trouble during payment process -- Complaint #5304292
Complaint Overview
Complaint ID: 5304292
Company: Mr. Cooper Group INC.
Product: Mortgage
Sub-Product: Other type of mortgage
Issue: Trouble during payment process
State: Kentucky
ZIP Code: 420XX
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: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Hi there, Im writing in regards to my loan # XXXX for property located at XXXX XXXX XXXX in XXXX, KY XXXX. I have multiple payments which have been incorrectly applied and this appears to be a reoccurring issue that Id like resolved and a permanent solution in place. All of my former servicers offered an automatic bi-weekly payment feature. For this, I chose the day of the week and how much Id like to pay each transfer, or each month. My regular payment is just under {$700.00}, so Id always simply round up to {$700.00} total each month, with each bi-weekly transfer being for {$350.00}. From my understanding with your ticket # XXXX, the only bi-weekly automatic payment is for the day code of Friday with the 3rd transfer in a month being allocated to principal. I do not agree to these terms as I simply want to make a {$350.00} payment every other week, totaling 26 payments, or 13 months worth of payments in one years time. I also do not want the day to be on Friday. Currently I have an automatic bill p ay setup through my bank, where {$350.00} is electronically sent every other week. However, doing this it appears each of my payments are not correctly being applied as half payments, then after the second payment, being applied as that months payment. Please advise how we can accommodate my request to make bi-weekly transfers that are applied correctly, either with my bill pay payment, or with your transfer form/system. Thanks so much!
Frequently Asked Questions
What is Complaint #5304292 about?
Complaint #5304292 was filed against Mr. Cooper Group INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-03-09T12:00:00-05:00.
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.