Mortgage -- Trouble during payment process -- Complaint #6454097
Complaint Overview
Complaint ID: 6454097
Company: Gateway First Bank
Product: Mortgage
Sub-Product: Other type of mortgage
Issue: Trouble during payment process
State: Texas
ZIP Code: 78108
Date Received: 2023-01-18T12:00:00-05:00
Date Sent to Company: 2023-01-18T12:00:00-05:00
Company Response: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
This issue pertains to my Secondary Home Improvement Loan - originated and serviced by Gateway Mortgage - a division of Gateway First Bank. This morning ( XX/XX/2023 ) I talked with a Gateway Mortgage representative named XXXX. He was about the least helpful associate I've dealt with in decades of working with Banks and Mortgage Lenders. My question surrounded why Gateway mortgage has been incorrectly applying the extra payment I started sending to them since last XXXX. Basically, they've been taking the extra payment and applying it ahead in a way that ensures they are receiving their interest payment. He told me that I did not need to make a payment until next XXXX!! Every other bank in the world takes that overage and applies it to the Principle- on the month it's paid. I am asking the CFBP to look at this suspect practice as it clearly violates Truth in Lending laws ( and I'm sure several other laws aimed at mitigating deceptive practices by large banks ). Moreover, XXXX said that he'd " submit a ticket and some supervisor would call me back in 24-48 hours ''. When I asked him for the ticket number for confirmation he said he couldn't give it to me. Beware of this company!! They do NOT keep customer service in mind and their practices are clearly something the CFPB should investigate. At this point, Gateway Mortgage has applied over {$600.00} to their own interest vs. buying down the principle of the loan. Again, this is a very deceptive practice and one that should be punished.
Frequently Asked Questions
What is Complaint #6454097 about?
Complaint #6454097 was filed against Gateway First Bank regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-01-18T12:00:00-05:00.
How did Gateway First Bank respond to this complaint?
The company responded with: "Closed with non-monetary relief". 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 Gateway First Bank?
Yes, visit the Gateway First Bank company profile at readthecomplaint.com/company/gateway-first-bank 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.