Consumer complaint received 2016-06-23
Company: Caliber Home Loans, Inc.
State: CA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
*PLEASE HELP, WRONGFUL FORECLOSURE SALE SCHEDULED IN ONLY 7 DAYS* Dear CFPB representatives, I 'm writing this letter to request your assistance in stopping my wrongful foreclosure sale that is scheduled for next week on XXXX XXXX, XXXX ( 7 days away ). 

Caliber Home Loans is calculating my financial input values incorrectly for the sole purpose of denying me for mortgage assistance and I have proof to back up my statement. I tried to resolve the issue internally with XXXX but they continue to violate the law and my rights by wrongfully denying me for mortgage assistance. 

I have outlined in this request for assistance all of the egregious and abhorrent issues with regard to the wrongful and prejudiced Request for Mortgage Assistance denial dated XXXX XXXX, XXXX. 

*WRONGFUL AND PREJUDICED RMA DENIAL DETAILS* ( Reason for Denial ) We are unable to offer you a Loan Modification because your loan to value ratio ( LTV ) must be over XXXX % to be eligible ( Issue w/ Denial # XXXX ) Completely Bogus! Caliber provided a loan payoff amount ( see attached ) for {$580000.00} and set property value at {$570000.00} per the attached BPO provided by. The denial states that my LTV is less than XXXX %, which disqualifies me for assistance but the calculation is INCORRECT! My LTV is over XXXX % ( see attached ) based on the data provided by Caliber alone. 

( Issue w/ Denial # 2 ) Caliber is conveying that they are calculating the LTV using only the unpaid principal balance of {$390000.00} from the payoff statement listing the payoff amount of {$580000.00} described as " PAYMENT DUE TO RELEASE LIEN '' by Caliber. The actions of Caliber are not only unfair and abusive but that are also in direct violation of both state and federal law, making their actions also illegal. The LTV calculation is defined as follows by XXXX : " The LTV ratio is calculated as the amount of the mortgage lien divided by the appraised value of the property, expressed as a percentage. For example, a borrower taking on a {$92000.00} mortgage to purchase a home appraised at {$100000.00} would have an LTV ratio of XXXX % ( XXXX/XXXX ). '' Based on the definition and example above, Caliber would use the lien release amount of {$580000.00} ( see payoff statement ) as the L value in the LTV ratio with an accompany property value of {$570000.00} as the V value, which would make the LTV over XXXX % ( XXXX % ) and put me in the " underwater '' category, thereby qualifying me for mortgage assistance. Caliber 's denial and perpetuation of foreclosure are wrongful and illegal! 

( Issue w/ Denial # 3 ) Caliber calculated my LTV using only the unpaid principal balance of {$390000.00} and the property value of {$570000.00} to deny me for mortgage assistance. If Caliber will agree to take {$390000.00} to payoff the loan and if my property value is {$570000.00}, I already have multiple offers to refinance my loan with almost XXXX % equity per Caliber 's calculations and denial. 

Therefore, please halt the foreclosure proceedings immediately to give me an opportunity to refinance my home over the next 30 days away from Caliber for the amount of {$390000.00} ( the unpaid principal balance ) ( Issue w/ Denial # 4 ) I should still be eligible for MHA HAMP Tier 2 based on the false inputs that were used to calculate the new payment amount presented in offer from XXXX XXXX. I never defaulted on MHA HAMP Tier 2 TPP payments nor did I default on a MHA HAMP Tier 2 loan modification, which means that I remain eligible for MHA HAMP Tier 2 presently. Caliber never completed an escrow analysis for this mortgage loan to determine if there was a shortage and the exact shortage, which means that the escrow shortage payment of {$500.00} per month CAN NOT be validated. I should have the opportunity to apply for MHA HAMP mortgage assistance at this time based on the unethical and fraudulent MHA HAMP Tier 2 loan modification offered in the past by Caliber.

Company response to consumer: Closed with explanation