Mortgage -- Closing on a mortgage -- Complaint #5591930
Complaint Overview
Complaint ID: 5591930
Company: Cmg Financial Services, INC.
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Closing on a mortgage
State: Alabama
ZIP Code: 360XX
Date Received: 2022-05-21T12:00:00-05:00
Date Sent to Company: 2022-05-21T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
Case XXXX ( re : CMG loan XXXX ) closed because the company provided an explanation. However, they still have not explained why interest continued to be calculated during the period of covid relief. The junior lien paid to HUD and the payoff to CMG was over XXXX, {$12000.00} more than my original loan. I had XXXX late payments and was assured that using the covid relief would not harm me in any way when I agreed to the program. Here is an excerpt of the company 's response to my original claim : " The first payment was for {$8000.00}, this covered XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX installments. x The second payment was for {$6900.00}, this covered XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX installments. x The third payment was for {$2700.00}, this covered XX/XX/XXXX and XX/XX/XXXX installments. In addition, there was a contractual payment in the amount of {$1300.00} in the non-interest bearing ( suspense account ) that applied for the XX/XX/XXXX installment. On XX/XX/XXXX, the principal balance was {$170000.00}. '' Please reopen my complaint and insist upon a full explanation of their interest accrual process - my original loan was for XXXX ( Loan No. : XXXX Original Loan Date : XXXX Original Loan Amount : {$180000.00} Loan Type : FHA FHA/VA/MI No XXXX : XXXX Investor No. XXXX XXXX XXXX ) but my payoff when we sold the home, was XXXX to CMG and XXXX to HUD XXXX over XXXX! They could not have followed the correct terms for interest accrual if in fact, they were truthful when they offered the covid relief program. Thank you so much for your assistance.
Frequently Asked Questions
What is Complaint #5591930 about?
Complaint #5591930 was filed against Cmg Financial Services, INC. regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2022-05-21T12:00:00-05:00.
How did Cmg Financial Services, 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 Cmg Financial Services, INC.?
Yes, visit the Cmg Financial Services, INC. company profile at readthecomplaint.com/company/cmg-financial-services-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.