Consumer complaint received 2017-01-24
Company: BROKER SOLUTIONS, INC.
State: CA
Product: Bank account or service
Sub-product: Other bank product/service
Issue: Deposits and withdrawals

Complaint:
New American Funding, our mortgage lender has been holding a reimbursement check for water damages sustained to our XXXX home. 

After 32 days of holding our check, ( and collecting interest ) New American Funding continues to change the requirements and the process of releasing our check every time I speak to them. 

On XX/XX/XXXX we received a reimbursement check from XXXX XXXX XXXX to cover the costs of water damage to our home in XXXX, CA. The check was issued to my husband and I, AND New American Funding, the mortgage lending bank on our property. 

I called New American Funding on the same day at XXXX. to ask what was required to process this check. I spoke to XXXX and she informed me : 1. They requested we send the " endorsed '' check to them. 
2. They need the letter from XXXX XXXX stating the purpose of the check. 
3. They need a " Summary of Loss Statement '' 4. Copies of " Paid In Full '' invoices 5. Include our Loan number and send all documents to their Property Loss Department I compiled this information and sent it out the same day, XX/XX/XXXX by US Postal Service - Certified Mail. They received the documents and the endorsed check on XX/XX/XXXX. 

After returning from XXXX vacation and several phone calls later, I finally reached them on XX/XX/XXXX. I spoke to XXXX. He said they NOW required an " Updated Adjuster 's Report ''. I became very angry about not explaining this earlier and that they had not responded to me to explain this new requirement. I asked to speak to a supervisor. He said that is not possible. They will request a supervisor to call me. They would not give me a supervisor 's name or phone number. I asked them to call XXXX XXXX to get the required " Updated Adjuster 's Report '' since I was too upset to deal with them any further. 

In addition to this conversation, on the same day, XX/XX/XXXX, I sent an email to New American Funding on their website to make sure this information was on record. 

On XX/XX/XXXX at XXXX I received a recorded message from XXXX , a supervisor. She explained that NOW they needed the contractor 's information and additional required documents. They would be sending us a " Claim Dockage '' to be completed. We waited for the appropriate documents and never received them. 

After receiving no documents and no phone call, I called on XX/XX/XXXX. I spoke to XXXX. She said they still need the " Updated Adjusters Report ''. They NOW need a hold harmless letter from us stating we will not hold New American Funding responsible for liens on our property from contractors. We sent the letter out by certified mail on the same day. 

I waited to hear from the lender ... still no word. On XX/XX/XXXX I called New American and spoke to XXXX at XXXX. I asked for the status of releasing the check. He said they still needed the " Updated Adjuster 's Report ''. He would not connect me to a supervisor. He said they have not received the " Letter of Responsibility ''. He said after they have received all the documents, they will do a final inspection. This is the first time this was mentioned. I asked to be placed on the schedule for an inspection as soon as possible so that this issue could be resolved quickly. 

On XX/XX/XXXX, after my phone call with XXXX, I called XXXX XXXX XXXX, XXXX XXXX, at XXXX. to explain that New American Funding needs an " Updated Adjuster 's Report ''. She was not available so I left a message to call me. 

On XX/XX/XXXX, same day, I got a call from XXXX XXXX, a supervisor at New American Funding at XXXX. She explained to me that New American could release {$620.00} of the {$20000.00} check. I was informed the scheduler would call me within 24 - 48 hours to set up an inspection. I want New American to act in good faith and release the funds a.s.a.p.

Company public response: Company believes complaint represents an opportunity for improvement to better serve consumers
Company response to consumer: Closed with explanation