Consumer complaint received 2018-03-13
Company: CARRINGTON MORTGAGE SERVICES, LLC
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
Carrington Mortgage Services LN XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX CA XXXX On XX/XX/XXXX we started a short sale with Carrington Mortgage Services ( CMS ). On XX/XX/XXXX CMS claimed their XXXX came in at $ XXXX and they countered the buyer to that price. We sent to CMS the Contractors Bid and the Home Inspection Report for them to review for a Value Dispute. CMS responded by countering the buyer even higher at $ XXXX. 

Keep in mind that the Contractors Bid called out $ XXXX in damage to the home, and that does not include the severe issues to the foundation ( See Home Inspection Report, attached ) which will require an engineers report and bid. When you provide evidence to a lender that there is $ XXXX in damage to the home, as well as severe foundation issues, ask them if their XXXX agent took that into account which they refuse to answer, and they respond by countering even higher than they did before, it becomes readily apparent that CMS makes up their own values. 

It is obvious that Carrington is refusing to review the extensive damage to the property so that they may do a deed-in-lieu ( which by the way is NOT possible as there is a 2nd TD on the property, though CMS claims they negotiate these with the 2nd TDs all the time ) in order to be able to transfer the file to their retail division which will collect money on the real estate side by listing and selling the property themselves. Refusing to give an appropriate value for the property in order to prevent the short sale from taking place is FRAUD. They are doing this in an attempt to defraud their investor and their own client, and the fraud is happening on many levels within CMS. 

This is NOT the 1st time this EXACT COMPLAINT has been made against CMS. Not only are there thousands of other people that have filed complaints for these exact reasons, but we too have already filed complaints against CMS for these same reasons. Please see attached CFPB complaints : # XXXX, # XXXX, and # XXXX. 

I am sure CMS is going to attempt to lie to you, the CFPB, regarding the fraud they are committing. We are getting sick and tired of lenders telling us that they outright LIE to the CFPB, then laugh at us for thinking the CFPB would help. 

1. Carrington forecloses on properties for their own gain, and defrauds their investor out of a valid payoff of their loan 2. Carrington forecloses on properties so they may transfer the file to their retail division which will collect money on the real estate side by listing and selling the property themselves Please read # 2 again CMS HAS THEIR OWN RETAIL DIVISION THAT WILL LIST AND SELL PROPERTIES TO THE BENEFIT OF CMS. THEIR ONLY GOAL IS TO FUNNEL ALL THE LOANS THEY SERVICE INTO THEIR OWN COMPANY FOR THEIR OWN FINANCIAL GAIN. 




We know that CMS has no intention of reviewing this property for a short sale. They never did. They instead want to foreclose on this property and send it to their real estate division which will collect money on the real estate side by listing and selling the property themselves and get paid a commission for the sale. THIS HAS BEEN THEIR GOAL FROM THE BEGINNING.

1 ) We are requesting the CFPB fully investigate CMS and their real estate division because we know from past experience that the actions they are taking are widespread in XXXX California. Their goal is to further profit by selling the home themselves within their own real estate division. 
2 ) We want a copy of the XXXX done, as per ECOA guidelines see attached. 
3 ) We want an appropriate market value accepted for this property and an approval of the short sale at this market price.

4 ) We want Carrington fined the maximum penalty of $ 1XXXX dollars for continually and purposely committing FRAUD against this homeowner, and since they are defrauding borrower, the investor, and the community, and therefore are not fulfilling their servicing obligations. 
5 ) This is not the 1st time this exact complaint has been made to the CFPB. Carrington, in fact, has done this exact thing with many other homeowners.

We will be copying this complaint to the Bureau of Real Estate as well as the States Attorney General on this complaint.

Company response to consumer: Closed with explanation