Consumer complaint received 2023-12-04
Company: Mr. Cooper Group Inc.
State: SC
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process
Sub-issue: Trying to communicate with the company to fix an issue while managing or servicing your loan

Complaint:
XXXX we had a catastrophic fire A check was sent to the mortgage company mr cooper for {$360000.00} which is being held to rebuild our home. 
I have submitted and confirmed receipt repeatedly of our insurance letter showing catastrophic total loss. XXXX repeatedly asked for my insurance worksheet, which is not needed since there is no repairs to the house. 
XXXXbuilders contract and blueprints were uploaded into their system XXXX I call was advised they had received the builders contract and blueprints and would request expediting my first draw check I should receive it five days to process the expedite five business days to receive the check XX/XX/ I called to check the status of the first draw check to pay my builder to rebuild my home and I was told the process has not even been submitted for review but they would submit it for an expedite review and issue me a check within five business days.

I spoke to a supervisor advising they had had my money since insurance had paid off my house for a total loss in XXXX. They had also had all documentation requested and provided for the last 20 days. Why have I not had my process for my first draw check, been submitted and approved, I was advised by supervisor XXXX that he would personally handle the matter and check to see where his systems had failed and his department and have me a check for my first draw. It would take three days to process the check request approval in three days to process the check and then the check would be overnighted so I should have the check i. XX/XX/XXXX 
XX/XX/ I called to check the status of the first draw check and was advised the process had not even been filed until XX/XX/ requesting approval for a check, I requested to speak to the supervisor XXXX who wasnt available. I spoke to a supervisor XXXX, who advised a question had come back of. How would I handle the outstanding balance which I advised insurance was giving me an additional reimbursement of the XXXX she said she would expedite this and would send an email and would follow back-and-forth eight hours and requested a expedite of approval in a check to be sent overnight. 
XX/XX/ I called, requesting the status of the first draw check and was advised it did not been submitted for approval or a request for approval. I requested to speak with supervisors XXXX or XXXX it was advised they were not available so I spoke with after sitting on hold for an hour supervisor XXXX who advised it takes a week to process a request for a check that had not been prior submitted and after a week they will see if thats approved then it will take another business week to issue a check. 
I do not understand how all documentation that was requested was provided Mr. Cooper mortgage company has had our money of {$360.00} issued by XXXX insurance company since XXXX. They have been provided all the information and they failed to provide our money to rebuild our house. Mr cooper mortgage company has delayed our build due to their inadequacy and failures in their systems. I continue to pay my mortgage to mr cooper mortgage company, and they have my money for my rebuild. 

As you can see from above, each time I call, I am told one thing or another and that it will be handled and it is not. Their systems failures, lack of documenting and handling funds appropriately and telling me my all documentation needed has been provided but failure to provide my needed funds to rebuild my house is inexcusable and very unprofessional. I do not understand how company can hold our funds for 25 days and do nothing I was repeatedly advised that the funds would be released since all documentation required was needed time and time again the request is not issued to submit approval for a request for a check. I do not understand how they have my money from my insurance payout of {$360.00} and XXXX still paying mortgage to them but I am not receiving payment back to rebuild my house We have a rental home which XXXX insurance is paying for only a limited time ; however, XXXX XXXX Mortgage Companya failure to provide my funds to rebuild my house in a reasonable manner of time has cause a concern that my house rebuilding is being delayed and we will not have a home for my family to live in while waiting for the rebuild.

Company response to consumer: Closed with explanation