Mortgage -- Trouble during payment process -- Complaint #6595749
Complaint Overview
Complaint ID: 6595749
Company: Planet Home Lending, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: North Carolina
ZIP Code: 27615
Date Received: 2023-02-20T12:00:00-05:00
Date Sent to Company: 2023-02-20T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I received the attached letter from my mortgage servicer. It states that as of XX/XX/22 my flood insurance was " cancelled, expired or was unacceptable '' and that force placed insurance would be obtained ( at great cost ) unless replacement or renewed coverage was secured. This is 100 % wrong, apart from being upsetting and disruptive to me, my XXXX president and our insurance agent. I called the mortgage servicer this morning ( Planet Home Lending ) and when pressed, the servicer 's rep admitted that they took over servicing on XX/XX/22 and did not have our insurance documents. They said they received nothing from the lender. Instead of asking for a copy of the insurance policy, they instead sent this erroneous, threatening letter and caused unnecessary work and concern for several people. Planet Home Lending should be reprimanded or sanctioned for the misstatements made in the letter, as our building 's insurance policy is and has always been in force. I will be sending a copy of our master condo policy to the servicer ( now that I know what actually is needed ) but would like to see steps taken so no other borrowers receive such a letter with these false claims.
Frequently Asked Questions
What is Complaint #6595749 about?
Complaint #6595749 was filed against Planet Home Lending, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-02-20T12:00:00-05:00.
How did Planet Home Lending, LLC 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 Planet Home Lending, LLC?
Yes, visit the Planet Home Lending, LLC company profile at readthecomplaint.com/company/planet-home-lending-llc 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.