Mortgage -- Trouble during payment process -- Complaint #5706612
Complaint Overview
Complaint ID: 5706612
Company: Security Service Federal Credit Union
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Colorado
ZIP Code: 80238
Date Received: 2022-06-24T12:00:00-05:00
Date Sent to Company: 2022-06-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
We are closing on the sale of our home and, as a part of that, the title company requested the payoff from our mortgage lender. They are trying to charge is a {$1600.00} prepayment penalty because we closed on the refinanced loan less than 36 months ago. However, their monthly statement listed the prepayment penalty as " None '' and they never verbally disclosed the prepayment penalty with us at any time during the loan process. It is also not included in the language of the Note or Deed of Trust ( although apparently we did sign a disclosure that neither of us remember being disclosed ). We believe the failure to list the penalty on the periodic statements is in violation of the CFPB rules on this topic.
Frequently Asked Questions
What is Complaint #5706612 about?
Complaint #5706612 was filed against Security Service Federal Credit Union regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-06-24T12:00:00-05:00.
How did Security Service Federal Credit Union 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 Security Service Federal Credit Union?
Yes, visit the Security Service Federal Credit Union company profile at readthecomplaint.com/company/security-service-federal-credit-union 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.