Mortgage -- Trouble during payment process -- Complaint #5913224
Complaint Overview
Complaint ID: 5913224
Company: Interfirst Mortgage Company
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Ohio
ZIP Code: 440XX
Date Received: 2022-08-24T12:00:00-05:00
Date Sent to Company: 2022-08-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I refinanced with Interfirst late last year XXXX. My home insurance was paid through XX/XX/XXXX with XXXX. I made three attempts with XXXX to obtain my insurance billing and never received it. XXXX has since admitted they can find no notes or record of the issue and just that I only called them. Because of the issue with XXXX, I obtained insurance through another provider on XX/XX/XXXX. XXXX notified Interfirst that my policy cancelled on XX/XX/XXXX. Interfirst is engaging in forced place insurance for the time period between XX/XX/XXXX and XX/XX/XXXX despite my interactions with them on this issue. I have just received notice that Interfirst is charging {$270.00} for insurance coverage worth {$330000.00}. My home appraisal which I paid for to obtain the Interfirst refinance is {$250000.00}. The loan balance is {$190000.00}. The insurance company that is providing the policy that is making pay 4x market rate is from a company called XXXX. By all appearances, XXXX is an affiliated company. This action can not meet any definition of reasonable for Interfirst to over value the worth of their loan investment and pad extra revenue for XXXX under the premise they are allowed to force retroactive insurance on a consumer. It not only is taking advantage of a situation I did not cause and also remedied in quick manner, but it is an obvious display of grift and corruption. Why does CFPB not protect consumers from such action? How is CFCB not stopping the practice of over valuing my home so a money lender and insurance company can grossly profit from an unfortunate mishandling of documents by my insurance provider? They are insuring nearly twice the amount of their actual loan risk which is not even a risk when it is past tense and they literally incurred no losses. It can only be grift to deliver pure profit to company at 4x the market rate for insurance. I want CFPB to force explanation of Interfirst 's relationship with XXXX? Why InterfirsXXXX has not sought competing bids? and why Interfirst is now valuing my home, for their own purposes and not mine, to be at {$330000.00}.
Frequently Asked Questions
What is Complaint #5913224 about?
Complaint #5913224 was filed against Interfirst Mortgage Company regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-08-24T12:00:00-05:00.
How did Interfirst Mortgage Company 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 Interfirst Mortgage Company?
Yes, visit the Interfirst Mortgage Company company profile at readthecomplaint.com/company/interfirst-mortgage-company 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.