Consumer complaint received 2020-06-16
Company: Caliber Home Loans, Inc.
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
In mid-XXXX, after hearing that XXXX work/income could be impacted from the pandemic, XXXX called Caliber Home Loans to get information on deference of payments. When listening to options on the Caliber phone site, he opted for getting information on the program, and on pushing that option, recd the message Congratulations, you are now in the Forbearance Program! I asked if we were going to get any information about what that means and he said the message did not elaborate at all. 
[ It was later verified by a manager, Ms. XXXX XXXX, that yes, there was a flaw in the phone option system initially, not only automatically putting people in the program, but there was no Opt-out option. She told us that had been corrected. Conversation XX/XX/XXXX ] Point 1 : We were put in the Forbearance Program by Caliber Home Loans without request to do so! 

On XX/XX/XXXX, we spoke to a young man who explained that yes we were in the Forbearance Program which was a 3-month program and we should get back to them sometime in XXXX to look at our options. 
[ We were informed in a call way after the XXXX, that we had an option to pay our Escrow Account during those 3 months ~ very good idea as part of the program ~ but we were not informed ] Our Number 1 concern at the time of this call was the impact Forbearance would have on our credit. We asked this question repeatedly, and were told NO, repeatedly. 
Consequently, we thought okay, maybe this is an advantageous program that can buffer us in case XXXX salary was impacted. 

A few days later, we received alert/notification that our Credit had been hit with new information. On immediately reviewing, we saw that all three bureaus had Impacted by disaster and Forbearance documented on the reports. 
Huge problem! Any investor or financial institution looking at consumer financial standing instantly knows this reporting means we are not making consecutive payments ; and making consecutive payments is crucial to investors/financiers. Since we are currently working a business venture with financial partners, this is a disaster. 
Point 2 : Were were told more than once by a Caliber agent, that the Forbearance Program would not negatively impact credit! This is not the truth. 

Panic! And after talking w/financial mentors, we were advised to get out of the Forbearance ASAP, and get it off our credit reports! 

On XX/XX/XXXX, we talked with XXXX XXXX, a Caliber manager, who explained what we needed to do to get out of the program. We scrambled and within days, paid the 2 mortgage payments for XXXX and XXXX over the phone to assure they were applied, and as per Ms. XXXX advice, requested a letter asking for documentation that we were out of Forbearance. The accounting went well, including the XXXX payment, however documentation showing we were no longer in the Forbearance Program was/is not forthcoming! 

Litany of work to get a letter from Caliber stating we are out of Forbearance : XX/XX/XXXX ~ talked with XXXX, Supervisor # XXXX, told letter coming and if a problem, ask for Manager XXXX, or XXXX XX/XX/XXXX ~ talked with XXXX, Agent # XXXX, said she would request a letter be drafted to remedy the Credit Reporting and call XXXX back Unknown date ~ talked with XXXX, Manager # XXXX, told letter was coming with correct verbiage XX/XX/XXXX ~ talked with XXXX, Agent # XXXX, who told us the account showed the Forbearance being closed and referred us to a letter that says only that " we requested to be out of the program '' ~ not that we are out of Forbearance. 

XX/XX/XXXX ~ talked with XXXX, Agent # XXXX ( very helpful ) who said a request could be put in to get this reporting off the credit reports and it would take 5 days to process. 

XX/XX/XXXX ~ talked with XXXX, Agent # XXXX who transferred us to XXXX, Agent # XXXX who after 10 minutes and multiple requests, transferred us to XXXX, Agent # XXXX who refused to assist and put us on hold ; then talked with Agent # XXXX said letter coming with correct verbiage [ During this time, we did receive letters from Caliber HOWEVER, they were/are the same form letter stating only : you were approved for a Forbearance Plan, however, you subsequently requested to withdraw. 
and proceeds to inform us that we need to make our payments ( letter attached ). NO WHERE do these letters state that we are out of the Forbearance Program! ] XX/XX/XXXX ~ Talked with XXXX, Agent # XXXX. Finally, someone seemed to fully understand the language we needed! We went over it 3 times : It needs to state that we are Not in the Forbearance Program and our account is fully up to date. 
XXXX shared that since the Caliber Forbearance Plan was a 3-month plan that all documentation was around the 3-month period ; subsequently, we WERE NOT OUT of the Plan until the end of XXXX ~ BUT she said she would take us out right now! And, that a letter from Caliber, stating exactly that would be coming electronically within 48 hours, and the hard copy of that would arrive in 3~5 days.

Did not happen. The same form letter, stating that we requested to be withdrawn from the program arrived via email..the SAME letter that is not addressing our needs and not providing any remedy to our mortgage profile/credit standing! 

Today, XX/XX/XXXX, called Caliber once again. After speaking with XXXX, Agent # XXXX, I was transferred to XXXX, Agent # XXXX. This is my takeaway from that call : 1. After explaining my concerns and reiterating the many conversations we have had with the company, her primary concern seemed to be gathering dates, names and agent numbers of the people that provided information. 
2. She had a hard time addressing my concerns, especially the discussion with XXXX as she was very explicit about what she could send. Ultimately XXXX said, Caliber could not generate a letter saying we are out of Forbearance. That letter does not exist as part of the company. All letters go through their legal department and there is not one that says consumers are out of the program. ( We suggested she go to legal and have them vet another letter since theres an obvious need! ) 3. About things we were told, i.e. this will not impact your credit, the system was flawed when you were put in by mistake, Caliber will investigate sending a letter to the credit bureaus ; She did not address beyond asking for information about who said what, and what was their agent number. ( This made me uncomfortable as my objective was NOT to throw people under the bus! Most agents were empathic and helpful! ) 4. She referred to a XX/XX/XXXX call from XXXX XXXX multiple times where she says we were told nothing could be done to change the language of the letter. As seen by the litany of conversations listed above, we were told multiple times that this could be done! And that requests were in to generate a relevant letter. 
Point 3 : This experience with Caliber Home Loans has been confusing, damaging, frustrating, and time-consuming! We have been given completely contrary information and have acted on this information to our detriment!

Company response to consumer: Closed with explanation