Mortgage -- Trouble during payment process -- Complaint #7879636
Complaint Overview
Complaint ID: 7879636
Company: New York Community Bancorp INC
Product: Mortgage
Sub-Product: Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process
Sub-Issue: Payment process
State: Washington
ZIP Code: 98374
Date Received: 2023-11-20T12:00:00-05:00
Date Sent to Company: 2023-11-20T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I only have 7 days each month to make a principal only payment on my HELOC loan. Flagstar Loans takes my autopayment on the XXXX of the month and then they process my monthly bill on the XXXX They only allow principal only payments between the XXXX XXXX XXXX so I'm unable to pay towards my principal between the XXXX through the XXXX every month. They, however, charge daily interest on my principal balance while not allowing me to pay it down with extra payments during the month.
Frequently Asked Questions
What is Complaint #7879636 about?
Complaint #7879636 was filed against New York Community Bancorp INC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-11-20T12:00:00-05:00.
How did New York Community Bancorp 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 New York Community Bancorp INC?
Yes, visit the New York Community Bancorp INC company profile at readthecomplaint.com/company/new-york-community-bancorp-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.