Mortgage -- Trouble during payment process -- Complaint #7154983
Complaint Overview
Complaint ID: 7154983
Company: Valon Technologies, INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Arizona
ZIP Code: 863XX
Date Received: 2023-06-22T12:00:00-05:00
Date Sent to Company: 2023-08-01T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
Valon Mortgage bought my loan at the end of XXXX. ( Loan # XXXX ) Without notice, they set up an escrow account and paid for liability insurance, which I had already paid. I never authorized an escrow account for this loan. I have been paying the mortgage on this loan for over thirty years without an escrow account. I have independently paid for my own insurance and taxes on the property throughout the time I have owned it. I was told today by Valon customer service that Valon paid for liability insurance on my property, and that it was a mistake. I was also told that Valon would carry a negative balance on my escrow account unless I help them get back the funds they sent to XXXX XXXX in error. Here 's my complaint : a ) I did not authorize an escrow account, but they opened one anyway ; b ) they made a mistake by paying for an insurance policy that I already carried ; c ) they will not fix their mistake, but require action from me to help them receive their funds back. I should also note that the insurance they purchased was from XXXX XXXX, the very insurance carrier I have used for decades to cover the property connected to this loan.
Frequently Asked Questions
What is Complaint #7154983 about?
Complaint #7154983 was filed against Valon Technologies, INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-06-22T12:00:00-05:00.
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.