Consumer complaint received 2015-05-01
Company: Seterus, Inc.
State: DC
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
XXXX XXXX, 2015 Re transfer of my home mortgage loan from XXXX to Seterus Incorp. 

I want to advise the Consumer Financial Protection Bureau of a problem with transfers of mortgages from one service provider to another. 

I am suffering huge economic harm because XXXX transferred my home mortgage to Seterus effective XXXX XXXX, 2015, but Seterus has no record of my loan number or of my SSN. My property is for sale and I have a buyer for my property, but I can not sell my property b/c Seterus who is now services my loan according to XXXX has no record of my loan. I am afraid that I will lose the sale of my property b/c XXXX has transferred my loan effective XXXX, 2015 to Seterus, but Seterus does not have my loan number or my SSN in their system. 

I think the CFPB should require that the consumer always has a contact for their loan and that the transfer of a loan can not be completed until the new servicer has all of the information in their system and the consumer 's account is completely set up and tested. This happened to me the last time my loan transferred from XXXX XXXX to XXXX. My loan payments to XXXX were not deposited. Then I received notice from XXXX that I was 60 days late on my mortgage. Eventually XXXX credited my late fees, but I believe they never removed these late payments from my credit score. I expect this is about to happen again. 

XXXX 

On or about XXXX XXXX, I received a letter from XXXX stating that my mortgage was being transferred to Seterus effective XXXX XXXX, 2015. 

On XXXX XXXX, 2015 I phone XXXXXXXXXXXX confirm. An XXXX rep advised me that my mortgage was in fact transferred effective XXXX XXXX, 2015 to Seterus and provided me with the XXXX number to contact Seterus about my loan. Call this number and listen to the script. They admit to having no record of the loan. 

I called Seterus, but could not speak to a person about my mortgage which is current b/c Seterus has no record of my mortgage either by my XXXX loan number or by my SSN. 


The recording that played when I first called Seterus is as follows : If you have recently received a welcome package from Seterus and are a recently transferred loan .... To cont press XXXX to enter your loan # press XXXX to enter your SSN. I entered my SSN. I could n't find that ssn ; please enter your ssn I 'm sorry I could n't find that ssn, once again please enter your ssn. 

If you recently received a welcome package notice that Seterus will be the new servicer of your mortgage loan please press XXXX otherwise please press XXXX. 

To allow us to better serve you we encourage you to visit our web site At this time we are still receiving information from your prior service provider and are unable to speak to you about any loan details. 
As soon as we set up your account we will send you a welcome package. We will also try to contact you by phone. 
We expect this to happen by the XXXX of the month. If you do n't hear from us by then, call back and we should be able to help you then. 

Once we have received all of the information from your prior servicer we will set up your account. 

Thanks Then the phone disconnects.

Company response to consumer: Closed with explanation