Mortgage -- Trouble during payment process -- Complaint #6630075
Complaint Overview
Complaint ID: 6630075
Company: Valon Technologies, INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Texas
ZIP Code: 770XX
Date Received: 2023-02-28T12:00:00-05:00
Date Sent to Company: 2023-03-28T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
What happened : On ( XX/XX/XXXX ), I Spoke with a supervisor regarding my insurance. I explained that I was able to find a lower insurance premium that I would like to purchase. This insurance needs to be purchased directly from us. We were told that he would allow us to purchase this insurance but we needed to complete a form so they could approve it. We ask if we could go ahead and purchase this policy because it is only valid for that day. He gave us permission to purchase this policy. Now we received an email communication stating the removal of the insurance from escrow was declined. We already spoke on the phone regarding the 80 % XXXX from initial purchase. He said he would approve it for the exception of the insurance but not the property tax. We agreed and he said he would send us the form and we could go ahead and purchase the insurance that day. I asked several times to make sure we were clear about the decision to purchase the insurance. There is a recording of the conversation. I feel I was misled, and wrongly informed to go ahead and proceed to buy the insurance. In XXXX, Valon was late in paying my property tax, and XXXX XXXX kept contacting us and sending us notice with late penalty fees. We had stress during this time caused by this issue. In my experience the idea behind an escrow account is to eliminate these issues from the customer. However, this was a very stressful event for my husband and myself. I still have the letters from XXXX XXXX stating that our payment has not been received. We were very upset, and nothing was done in return to make up for this stressful event that was clearly Valons fault. The only thing we received was an apology.
Frequently Asked Questions
What is Complaint #6630075 about?
Complaint #6630075 was filed against Valon Technologies, INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-02-28T12:00:00-05:00.
How did Valon Technologies, 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 Valon Technologies, INC.?
Yes, visit the Valon Technologies, INC. company profile at readthecomplaint.com/company/valon-technologies-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.