Consumer complaint received 2018-06-28
Company: NATIONSTAR MORTGAGE LLC
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Dear Sir or Madam, XXXX XX/XX/XXXX, we refinanced our loan with XXXX. XXXX sold the loan in XXXX ( I believe ) to Mr. Cooper located at XXXX XXXX XXXX XXXX, XXXX, TX XXXX. Our loan no. with Mr. Cooper is XXXX. 
We have never missed or been late with any of our monthly payments with XXXX and Mr. Cooper. In fact, we have made additional principal payments each month with our regular payment of principal and interest. Each payment over the last 9 years has been successfully made via an ACH payment from my XXXX XXXX XXXX account. 
As our final payment is scheduled for XX/XX/XXXX, I contacted Mr. Cooper last week to discuss the final pay-off process. In a series of conversations with telephone representatives of Mr. Cooper at ( XXXX ) XXXX, I have been advised that the final payment can only be made via a cashiers check or a wire transfer even though the terms and provisions of my Promissory Note dated XX/XX/XXXX and my Deed of Trust dated XX/XX/XXXX expressly provide that payments under the Promissory Note shall be made " in the form of cash, check or money order '' ( please see the second paragraph of Section 1 of  the Promissory Note captioned " BORROWER 'S PROMISE TO PAY '' ) and payments " due under the Note and this Security Instrument shall be made in U.S. currency ( please see the first paragraph of the Deed of Trust captioned " Payment of Principal, Interest, Escrow Items, Prepayment Charges and Late Charges '' ). 
Neither the Promissory Note nor the Deed of Trust require any payment including the final payment to be made via cashiers check or wire transfer which is both an expensive and time consuming process. 
The Deed of Trust does provide in the first paragraph of the Deed of Trust captioned " Payment of Principal, Interest, Escrow Items, Prepayment Charges and Late Charges '' that in the event any " check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under this Note and this Security Instrument be made in one or more of the following forms, as selected by Lender : ( a ) cash ; ( b ) money order ; ( c ) certified check, bank check, treasurer 's check or cashier 's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity ; or ( d ) Electronic Funds transfer. As stated previously, we have never missed a payment or been late with a payment and XXXX and Mr. Cooper have respectively accepted each of our monthly payments via ACH transfer. 
Accordingly, Mr. Cooper can not legally require our final payment to be made via cashiers check or wire transfer. 
As I stated previously, I have discussed this situation with a number of telephone representatives of Mr. Cooper including XXXX XXXX XXXX, an XXXX  XXXX with Mr. Cooper, on XX/XX/XXXX, and XXXX XXXX XXXX on XX/XX/XXXX. 
Mr. Cooper 's representatives have consistently told me that since Mr. Cooper is now servicing our loan, Mr. Cooper has the right to specify the form of payment whether it is via cashiers check or wire transfer. 
Even though Mr. Cooper may be servicing our loan, they do not have the right to amend or modify the terms or provisions of our XXXX Note or our Deed of Trust without our written approval which we have not granted either in writing or verbally. 
As a result, Mr. Cooper 's requirements with respect to our final payment are both illegal and predatory and need to be stopped. 
I have requested a call back from Mr. Cooper 's legal department to discuss this matter further and I have yet to receive such a call back. 
In addition to this issue with the final payoff of our loan, I have experienced additional issues with Mr. Cooper as follows : 1. Final Loan Payoff Statement -- I requested a final loan payoff statement from Mr. Cooper and I requested the payoff be emailed to me. Mr. Cooper advised me that I could be charged {$25.00} to have the final payoff statement emailed to me. When I asked multiple telephone representatives at Mr. Cooper to advise me of the actual charge for the final payoff statement, they consistently informed me that they could not confirm the amount of the charge until after the email was sent. Clearly Mr. Cooper knows whether there is a charge for emailing a final loan payoff statement and it is my understanding that all lenders are legally required to publish their fees. Apparently, Mr. Cooper believes it is above the law and is unwilling to provide this information in advance of its actions. 
2. Deed of Trust Reconveyance Fees -- In light of my experiences with Mr. Cooper with respect to the form of final payoff of my loan and the cost of an emailed final loan payoff statement, I became quite suspicious of Mr. Cooper 's business practices. As a result, I asked them to delineate the fees and costs that they intend to charge us with respect to the loan payoff including the deed of trust reconveyance fee. Each of the Mr. Cooper telephone representatives advised me that they could not advise me of these fees and they would be specified in the final loan payoff statement. Once again, Mr. Cooper is unwilling to inform its customers of its fees and costs even though it is my understanding that Mr. Cooper and all lenders are required to publish their fees. 
As Mr. Cooper is modifying the terms and provisions of my loan and it unwilling to disclose its fees, I am compelled to file this complaint with the CFPB. 
It is my understanding that Mr. Cooper has a high number of complaints with the CFPB and I am dismayed that the Federal Government permits their illegal business practices. Mr. Cooper 's predatory lending practices needs to stopped.

Company response to consumer: Closed with explanation