Mortgage -- Trouble during payment process -- Complaint #6724775
Complaint Overview
Complaint ID: 6724775
Company: Chrysalis Holdings LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Florida
ZIP Code: 32246
Date Received: 2023-03-20T12:00:00-05:00
Date Sent to Company: 2023-03-20T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
NewDay USA was the servicer on my loan and did no pay my Home Owner 's Insurance, with XXXX, so it lapsed in XX/XX/XXXX. I was never informed by NewDay or XXXX, even though NewDay contacted me multiple times per week to encourage me to do a cash-out refinance at a higher rate. They sold my loan to XXXX XXXX later that year. XXXX informed me I didn't have insurance which I assumed was a mistake. I contacted the XXXX and they informed me the premium was never paid and it had lapsed. XXXX in the interim forced me into an expensive policy until I got new coverage. XXXX was no longer writing new policies in Florida due to hurricanes. I also had a multi-policy discount with XXXX. I struggled to find new coverage since I live in Florida and also had a lapse of more than 30 days. I ended up having to pay nearly twice as much for a policy and also pay the interim policy which was more than twice as much. No company involved would take responsibility or contacted me. NewDay said they contacted XXXX numerous times, but they didn't respond which I find hard to believe. NewDay said they were on the do-not-call list for XXXX as well and had to work through Fax. Additionally, I had refinanced with NewDay USA in XXXX. I told them at the time the RE taxes they were going to collect was low since it was new construction in XXXX and they would go up significantly. They insisted it wouldn't go up that year and they were collecting enough. In XXXX I got a letter saying the escrow was nowhere near enough to cover the RE taxes and my payment skyrocketed to collect for the next year and cover the previous year.
Frequently Asked Questions
What is Complaint #6724775 about?
Complaint #6724775 was filed against Chrysalis Holdings LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-03-20T12:00:00-05:00.
How did Chrysalis Holdings 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 Chrysalis Holdings LLC?
Yes, visit the Chrysalis Holdings LLC company profile at readthecomplaint.com/company/chrysalis-holdings-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.