Consumer complaint received 2022-03-02
Company: BSI Financial Holdings, Inc.
State: WI
Product: Mortgage
Sub-product: VA mortgage
Issue: Trouble during payment process

Complaint:
We received a notice from XXXX Mortgage dated XX/XX/24 approving our loan modification request. Our loan was in an approved forbearance during the pandemic. The same day we received a letter from BSI that our loan was transferred and they are now our loan servicer. The next day we received a certified letter stating our loan was in default and we had 30 days to catch up or we would be foreclosed on.The loan terms and amount due was not even the same as what was on file with XXXX. 

I notified BSI of the errors and concerns the same day the letters came by calling customer service. The person I spoke with said that they were still waiting on paperwork from XXXX and to disregard anything we receive. I continued calling seeking assistance as time went on because we never received updates, only letters reminding us we are in default. Our concern has grown that BSI has the documentation showing they have notified us but no one in return is acknowledging our pleading efforts to help us. 

I was informed in XXXX that we have a loss mitigation rep assigned to us that we should work with, XXXX. I called XXXX constantly and sent many emails begging for help. I never received a call back and only received an ask for the XXXX paperwork dated XX/XX/24 and eventually an email telling us to re-fill out the loan mod paperwork. I replied asking why we were being asked to do this, expressed our concern and explanation. I got none. 

We received a letter XXXX stating we have another new loan rep, XXXX. I called XXXX and left a voicemail with our concern and hope that someone can finally help us. She called me back and demanded payments for our loan back to XX/XX/XXXX. I expressed my concern and stated we will not be considered in default due to their issues. XXXX stated that she is our new loan rep because they have been overwhelmed with figuring these things out and they split up the work ( that cant be my problem ). XXXX asked me for the same paperwork I sent to our prior rep, XXXX, and said she'd discuss with underwriting but stated we must make our payments back to XXXX. She also advised to make a XXXX and XXXX payment. 

As of today, XXXX we still do not have a resolution. I spoke to the VA since this is a VA backed loan and they informed me that BSI needs to be offering us a new loan modification and that someone should be discussing our options with us. To be clear, the XXXX paperwork dated XX/XX/24 was a letter approving our request stating we would get a letter in the mail to sign off on. We never got that letter nor signed anything. 

We have sat for 5 months compounding $ XXXX in interest on a loan that has been non-existent to us. I tried making payments in the portal and our information is not recognized. XXXX told me to call and make a payment but we are not comfortable blindly calling our banking information to someone to process {$2500.00} considering the issues we have been through. XXXX also asked why I didnt call XXXX  to make a payment and I tried- when I called it stated our loan was closed and we needed to work with BSI moving forward. 

Another concern is that we were seeking to do a VA streamline refinance in XXXX and have been unable to because of these issues. We are now losing thousands of dollars because of being locked into a loan we have no access to. 

In reading the CFPB regulations, BSI has been out of compliance in many ways. When I initially notified them that the terms they sent to us were incorrect, we did not get a timely response. That was 5 months ago and we are still sitting. They did not contact us within 36 days to discuss our loan modification options. 5 months later we STILL have not been given our modification options. I am sure there are more violations but I can not spend more time on my own pulling back these layers. We need help to resolve this

Company response to consumer: Closed with explanation