Consumer complaint received 2015-06-16
Company: WEICHERT FINANCIAL SERVICES
State: NJ
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
I started a loan modification process in XX/XX/XXXX with Weichert Financial Services. I never received any phone calls explaining the process or the steps. We completed the application and sat and waited. We received a trial modification payment document in XXXX XXXX. We made the payment within the month and multiple trial payments thereafter. Over the next five months, we never heard a word from loss mitigation, only the collection department with the lender. We finally received a letter in XXXX XXXX that our loan modification was denied due to insufficient documentation. We immediately called our representative, who failed again to return our calls and spoke with another representative who stated just to send in the missing documentation, which was sent in XXXX XXXX. A loan modification package was sent out XXXX to us, which we were never informed was approved or being sent to us. We were on vacation when the package came, therefore our neighbor had the package until we returned. We returned from vacation and the package received was already back dated. We called the lender and they stated we could still sign it. We took the package to a notary, who said they could not notarize a back dated package. We contacted the lender and they stated to send back the blank documents and they would send us a new package. After waiting a few weeks for the package, we called and were told that the package expired and we had to start the modification process again. We immediately started the process again and it was determined we had to go on a higher repayment plan rather than the modification we were previously approved for. Once the lender received our XXXX deposit, the representative never returned calls nor emails. The next week our loan was transferred to a new servicer and the previous lender would not answer questions or calls. The new servicer had corporate advance fees of XXXX and late fees of XXXX. We repeatedly called the old lender and our loss mitigation representative with again, no response. Finally called in XXXX XXXX and demanded to speak to a supervisor from loss mitigation, who assured us we should not have been charged late fees while going through the loan modification process and would call us back the next business day. A week and XXXX messages, XXXX loss mitigation representative and supervisor hanging up on us later and we were in the same situation that we had been in over the past year. The new lender ( XXXX ) was very demanding and we paid the loan current in XXXX XXXX and have been current since. We have sent XXXX different letters to the research department at Weichert Financial and have received generic letters with false information stating the representatives returned calls and emails, which were not returned. There was neglience on the part of the loss mitigation representatives and supervisors and numerous fees being charged that were not explained and are not accurate. We do not want another borrower to suffer the anguish that we experienced. The loan was never more than 60 days late and they also had the loan over 180 days late, causing financial stress to our credit. We asked them for a solution multiple times and now need to go a different route with a resolution.

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