Mortgage -- Closing on a mortgage -- Complaint #8651528
Complaint Overview
Complaint ID: 8651528
Company: Spring Equity LLC
Product: Mortgage
Sub-Product: Home equity loan or line of credit (HELOC)
Issue: Closing on a mortgage
Sub-Issue: Changes in loan terms during or after closing
State: Virginia
ZIP Code: 23435
Date Received: 2024-03-28T12:00:00-05:00
Date Sent to Company: 2024-03-28T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
SpringEQ failed to follow up with documents I submitted as part of the application and loan approval process. Specifically a signed auto-deduction form with my account and routing number that requested additional payment to principal be added to monthly auto-payment. The loan went to closing with their XXXX XXXX XXXX XXXX XXXX XXXX ). At closing there was no sign in the forms of my previously submitted auto deduction with added principal. Instead the closing agent/notary asked me to fill out another, which I did with the added principal for monthly auto pays. After closing I began to get correspondence of notification of first and enduring payment from both SpringEQ and XXXX, still at the original monthly payment. I reached out to SpringEQ who denied they did anything wrong, even though they had requested and received my form otherwise, yet sending notices without added principal. They made many attempts to completely blame it on XXXX, said they gave XXXX the form, and it was their fault. They failed to ensure those documents made it to closing. I will be filing a separate claim against XXXX for them failing to honor the document I had to resign and submit at closing. Failing to properly process ( multiple times ) documents as part of closing, puts doubt on any of the closing documents as being properly processed and/or honored. They claimed to have reached out to XXXX and said I needed to call them to verbally confirm what I already signed, notarized, and submitted at closing. The number for XXXX was to an auto-helpdesk. SpringEQ washed their hands of issue that they contributed to and failed to make good on document they failed to ensure was possessed properly. They wasted my time and energy.
Frequently Asked Questions
What is Complaint #8651528 about?
Complaint #8651528 was filed against Spring Equity LLC regarding Mortgage specifically about Closing on a mortgage. It was received by the CFPB on 2024-03-28T12:00:00-05:00.
How did Spring Equity 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 Spring Equity LLC?
Yes, visit the Spring Equity LLC company profile at readthecomplaint.com/company/spring-equity-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.