Consumer complaint received 2023-10-24
Company: PLANET HOME LENDING, LLC
State: FL
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage
Sub-issue: Application denials

Complaint:
XX/XX/XXXX Dear XXXX XXXX XXXX, I am writing to formally express serious concerns and to seek immediate rectification regarding the handling and servicing of my mortgage loan by Planet Home Lending , LLC. 
Unreceived Notice of Offer : Your letter dated XX/XX/XXXX, served as my initial introduction to the offer of {$67000.00}. This is particularly concerning considering the emphasis the Consumer Financial Protection Bureau ( CFPB ) places on clear and timely communication between lenders and borrowers. Under the CFPB 's Regulation Z, 12 CFR 1026.20 ( c ), lenders are mandated to provide consumers with clear and timely disclosures regarding the terms of agreements. I was devoid of this critical piece of information until recently, which I believe is a breach of my rights as a borrower. Consequently, I insist on receiving explicit details on how this offer was disseminated : the delivery method used, the address targeted, and if a signature or any acknowledgment was required. Given this significant lapse in communication, I firmly believe I should be given the opportunity to revisit and potentially act on this offer now. 
Servicing Transitions and Notification Issues : The consistent and seemingly abrupt shifts in the servicing of my mortgage may not only be concerning but could also be in violation of the Real Estate Settlement Procedures Act ( RESPA ). If the required " goodbye '' and " hello '' letters were not communicated effectively during these transitions, this might be indicative of a RESPA breach. 
Erroneous Reporting and Payment Handling : My unwavering commitment to maintaining a timely payment record, notably XXXX XXXX, XXXX, starkly contrasts the derogatory marks I've discovered on my credit report. This discrepancy may be a violation of the Fair Credit Reporting Act ( FCRA ). The mishandling and unwarranted rejection of my payments further raise concerns about potential RESPA contraventions. 
Foreclosure List Concerns : The inclusion of my loan on foreclosure lists, particularly given the aforementioned communication lapses and potential legal discrepancies, is deeply unsettling. The CFPB 's past actions, such as its stance against institutions like XXXX XXXX in XXXX, underscore the potential legal ramifications of flouting mortgage servicing rules. 
Potential Legal Claims : Reflecting on the points raised above and my sustained efforts to maintain transparent communication despite the myriad of servicing transitions, I'm led to believe there could be potential claims under state consumer protection laws, breach of contract, and common law tort claims like negligence. 
XXXX XXXX and XXXX : The cloud of ambiguity surrounding the loan modification process demands a meticulous review. I call for a comprehensive exploration of the terms and the potential for a new modification or refinance that genuinely respects and upholds my rights as a borrower. 
In conclusion, I anticipate not merely a superficial acknowledgment but a holistic, XXXX, and immediate solution that guarantees the protection of my rights as a consumer. The overarching legal framework is meticulously designed to ensure equity, transparency, and protection for borrowers. It is paramount that Planet Home Lending , LLC, aligns with these norms. 
I await your detailed and actionable response. 
Sincerely,

Company response to consumer: Closed with explanation