Consumer complaint received 2018-12-31
Company: Ditech Financial LLC
State: NC
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Trouble during payment process

Complaint:
Ditech Financial : After Hurricane Florence damaged our home we were forced to move out until repairs are complete. Insurance adjustors provided detailed information of the damage and the estimated cost of repair. In addition, we obtained estimates for the repairs and provided this information to Ditech as requested. The insurance check was mailed to us and we endorsed the check and then mailed the check to Ditech as required by XXXX XXXX. The cost to remove the old wet material was {$10000.00} which we paid for out our pocket as Ditech would not provide the funds designated by the insurance company. Ditech was provided with lien wavier, XXXX form, receipts. I have canceled checks for proof of pay yet Ditech continues to stall. The roof on our home was replaced with all required documentation provided to Ditech, Ditech will not release the any of the money to pay for the roof repair requiring me to pay for the roof repair out of pocket, this protects the collateral - again the insurance company provided sufficient funds but Ditech will not release the funds. I provided all required documentation for roof repair to Ditech and yet they refuse to pay. Next in line is the company that will install insulation and repair the drywall, ( {$15000.00} estimate ). Upon completion of insulation and drywall repair, we have a flooring contactor lined up to repair the flooring ( XXXX ). The last repair after the flooring is the kitchen cabinets and appliances ( {$32000.00} ). XXXX and I have provided Ditech with the required information to release 50 % of the funds upfront yet Ditech continues to stall. XXXX and I never missed a mortgage payment, never missed an insurance payment, and for XXXX NC insurance is not cheap. My complaint about Ditech is customer service and concern that the company is going bankrupt with my insurance money in some account that they refuse to release. We have provided Ditech with so much information, it appears to be a cash flow problem for the company and they release funds based upon their specific need and not in the interest of the collateral. Every time we comply with a request for information Ditech adds more requests ( stall tactic ). I have canceled checks where payment was made in full to contractors out of my pocket and they still will not release the money owed to me from the insurance that I paid for solely. They are hiding behind a claim that they must protect their investment this appears to be an excuse and is not an accurate picture. We live in the home and the repairs completed must meet a high standard, mine. I actually own more of the home than Ditech - Ditech will not send a person out to inspect, will not meet with me face to face. If they truly wanted to protect their investment they would inspect in person and meet face to face. This company is corrupt at the core and in financial trouble. Their CEO claims that great customer service is a strategic plan to increase revenues and avoid bankruptcy .not an ounce of truth or the plan is being implemented poorly. What I need from this agency is to contact Ditech Sr. Management and investigate - this is occurring to many individuals in NC that use Ditech . Other mortgage companies and credit unions are sending out folks to inspect the work and make the required payments for repair -

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation