Consumer complaint received 2020-06-29
Company: Village Capital & Investment LLC
State: IN
Product: Mortgage
Sub-product: VA mortgage
Issue: Closing on a mortgage

Complaint:
I was contacted by XXXX XXXX XXXX on XX/XX/2020 and asked if I wanted to refi my arm into a fixed rate at no cost to me. I reiterated to him the no cost to me part and he replied that there would be no cost to me to do this refi. I said ok and the process was started. Then the pandemic started in the middle of XXXX and it began to be hard to get my loan officer, XXXX XXXX, on the phone or by email. I mostly had been emailing him up to this point but I also had a cell number he had called me on a few times. In the middle of XXXX, around the XXXX, Mr. XXXX told me that the loan had been cancelled by someone at his office. I asked why and he said he didn't know. I told him that I was prepared to finalize the loan and was waiting on Village Capital to send the paperwork. He told me he would see what he could do about getting the paperwork to me and that the paperwork had to be signed by a certain date ( the paperwork says XX/XX/XXXX ). I signed this loan on XX/XX/XXXX against my wishes because I told the notary that the starting amount of the loan ( {$110000.00} ) was not correct. I knew I only owed around {$110000.00} for the house. The exact amount paid to the previous mortgage company by Village Capital was {$110000.00}. The starting amount for the refi new loan with Village Capital is {$640.00} more than what was paid to the previous mortgage company. When I tried to reach Mr. XXXX about this the week of XX/XX/XXXX, I could not get any reply to emails or phone calls. I finally around XX/XX/XXXX, called the 800 number for Village Capital and a rep told Mr. XXXX to call me. I explained to him about the difference in the loan amounts and how I was not to bear any costs in doing this refi. I also emailed this info to him and to his supervisor, XXXX XXXX. Mr. XXXX did not reply back until XX/XX/XXXX and never addressed the {$640.00} difference in the loans. I chalked this up to the cost of doing business after I could never get a reply from them on this. I then wanted to switch the insurance companies on the loan since I didn't like XXXX, the previous insurance provider. I switched the insurance to Travelers towards the end of XXXX and called/sent an email to Mr. XXXX and XXXX XXXX to show them that the loan needed to be recalculated as I had a new and cheaper insurance provider and had already paid the insurance through XXXX XXXX.. I knew the first payment on the loan was due by XX/XX/XXXX and wanted the paperwork to reflect the correct payment amount. I assumed that I would receive a new payment coupon but never did. When I went to make the payment of the principal and interest on Village Capital 's  website, the old amount was still showing and I knew that no one had updated the fact that I had already paid the insurance amount. I called customer service and made the principal and interest payment of {$500.00} on XX/XX/XXXX. Village capital started calling me the next Monday, XX/XX/XXXX saying I had not made a full payment. I told them I was not paying the insurance twice and sent an email again to the escrow department to show that the insurance was already paid. I have sent this copy of the paid up insurance four times since XX/XX/XXXX and Village Capital is still texting/calling me every day saying I have not made a full payment! Can you please get Village Capital to update this loan to reflect the paid insurance and also to tell me what happened with the {$640.00} difference that is showing in these two loans. If they had money left over, it should have come back to me!

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