Consumer complaint received 2018-01-11
Product: Mortgage — Reverse mortgage
Issue: Closing on a mortgage — 
Company: CIT BANK, NATIONAL ASSOCIATION (CA)

XXXX XXXX, XXXX Consumer Financial Protection Bureau Re : COMPLAINT Financial Freedom Reverse Mortgage Loan # XXXX Property : XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, CA XXXX Dear Sirs : My mother, XXXX XXXX, had a reverse mortgage with Financial Freedom. She XXXX XXXXy on XXXX/XXXX/XXXX and we decided to purchase the property. It was quite a feat just to get the pay-off amount from Financial Freedom and each month that passed meant another $ XXXX in interest payments TO Financial Freedom plus the HOA at my mothers house which is {$630.00} / month. Even my attorney mentioned how difficult this company is to deal with. 
Once we did get the pay-off amount ( {$210000.00} ), we paid it off. See letter from XXXX XXXX, Lien Release Representative, indicating the mortgage was paid in full on XXXX/XXXX/XXXX ( Attachment # 1 ). Youll note the handwriting on that letter. Those are notes from some of the times I called to try to get help. 
The property ( XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, CA XXXX ) is in a senior community and is a co-op. The legal document for this property is called a Membership Certificate. Financial Freedom has misplaced this document. I didnt even realize I need this document to present to the Board at XXXX XXXX in order to be accepted as a resident until we went there on XXXX XXXX, XXXX with our bank statements, tax records, legal document and credit scores and were told everything looked good, then they asked for the Membership Certificate. Our contact at XXXX XXXX XXXX is XXXX XXXX XXXX. 
Since XXXX I have made MULTIPLE phone calls to Financial Freedom ( only to get the Customer Service Department which notes that you call and supposedly forward your info to someone who cares and will get back with you.doesnt happen. ) I sent correspondence to XXXX XXXX since she was the one who authored the letter stating that they received the funds to pay off the mortgage in full on XXXX/XXXX/XXXX. Heard nothing back from her. ( Attachment # 2 ) I finally was told by a Customer Service person that XXXX XXXX in the Lien Release Dept. finally admitted they cant find the original and are working on getting an original copy -- whatever that means. 
I called on XXXX/XXXX/XXXX and the person I reached recognized my dilemma from a previous conversation ( I didnt even document that one I guess ) .she took pity on me, checked with a supervisor and advised me that the only way I would get anyones attention was to send a complaint letter. All my inquiries, emails, etc. didnt constitute complains, I guess! 
I sent the complaint letter on that same day, XXXX/XXXX/XXXX ( Attachment # 3 ). I got a response dated XXXX/XXXX/XXXX ( Attachment # 4 ) acknowledging receipt of my email.it was a letter, not an email.so unprofessionalthey stated that they forwarded my inquiry to XXXX XXXX, Escalations Specialist who would contact me within 1-3 business days. 
On XXXX XXXX XXXX sent a letter ( Attachment # 5 ) to my attorney, XXXX XXXX XXXX, refuting some of my facts. He states they discussed the Certificate with me on specific dates.which they did..BUT Im the one who initiated the phone calls and all I got was their Customer Service people..who, again, just documented the call in the computer and then who knows what happened to it. 
Youll see in the next to the last paragraph of XXXX XXXX letter he states that their Title Resolutions Team has obtained a copy of the original Certificate (? ) and is currently working with their title vendor to obtain the replacement. He states that IF the certificate was not issued in the next 30 days ( which would have brought us to XXXX XXXX, XXXX ), they would provide me with a written status update. The only updates I have received are as a result of ME CALLING XXXX XXXX XXXX!! Just another stall tactic! 
Please see my email dated XXXX/XXXX/XXXX to XXXX XXXX in response to his letter of XXXX to my attorney ( Attachment # 6 ). It indicates that according to XXXX XXXX XXXX of XXXX XXXX, a replacement Certificate will not suffice. The only two acceptable documents will be the original Certificate or a Lost Instrument Bond. I provided XXXX XXXX with the Insurance company name and agent who XXXX XXXX XXXX uses along with phone # and email address. 
I called XXXX XXXX after the XXXX XXXX and asked for an update. He has nothing new to offer me except for the fact that Financial Freedom WILL cover the cost of the Bond..Why wouldnt they??? So now Im just waiting for them to figure out how long its going to take for THEIR VENDOR to get this done!!! 
This is ludicrous and I cant believe these people are in business. Its one stall tactic after another. My mother owed {$52000.00} on her property when she took out the Reverse Mortgage. We had to pay {$210000.00} to pay it off. Thats no ones fault.my mother was XXXX when she XXXX XXXX and it was her decision to get the reverse mortgage. Seems it gained my mother a little over {$400.00} a month and COST over {$600.00} in interest each month. 
I JUST WANT THE MEMBERSHIP CERTIFICATE SO I CAN GAIN RESIDENCY IN XXXX XXXX. IF we decide to rent this property to recoup some of our money, I have to wait one year AFTER we become residents to do so.THUS, every month Financial Freedom is unable to provide  adequate paperwork to satisfy XXXX XXXX, is one more month well have to wait before we can rent the property IF we decide to do so. This has been an emotional roller coaster. Not only did I lose my mother, but have spent almost an entire year dealing with these inept ( or maybe just crooked ) thieves. 
PLEASE HELP! 
Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX XXXX XXXX XXXX