Consumer complaint received 2015-03-25
Product: Mortgage — FHA mortgage
Issue: Loan servicing, payments, escrow account — 
Company: Caliber Home Loans, Inc. (NY)

After numerous attempts, I have not been able to get information from Caliber Home Loans regarding the final payment process ( draw ), and loan finalization, on my FHA XXXX loan. 

These delays in providing information on the final payment process and loan finalization have prevented the contractor from getting paid in a timely manner ( in an FHA XXXX loan, the bank pays the contractor ), prevented me from being reimbursed thousands of dollars that was outlayed at loan inception in order to maintain the Loan-to-Value ratio, and has prevented me from being able to refinance this loan with a different bank at current lower rates. 

TO REVIEW -I have an FHA XXXX loan, initiated on XXXX XXXX, XXXX, originally contracted with, and financed by, XXXX XXXX XXXX XXXX XXXX. XXXX XXXX, XXXX, MI, XXXX. 

Despite the fact that the loan was unfinished and work remained to be done, on XXXX XXXX, XXXX, the loan was sold to Caliber Home Loans, XXXX XXXX XXXX, XXXX, TX XXXX. 

At that time, due to a lack communication from Caliber Home Loans, and their refusal to fulfill my request for current account information after 2 months and several requests, I filed a complaint against Caliber Home Loans on XXXX XXXX, XXXX. ( CFPB Complaint Number # XXXX ). That delay caused the contractor to file a lien against my house. 

CURRENTLY -In late XXXX XXXX, the contractor finished the required work, and an inspection was done. The FHA/HUD inspector has also not received replies to his email inquiries. 

On Tuesday, XXXX XXXX, XXXX, I emailed my contact from XXXX, a third party advisor to Caliber Home Loans, who had been involved with this XXXX loan after the transfer, and was familiar with process, and I requested guidance on how to proceed with the final payment process ( draw ), and finalization of the loan. 
On Friday, XXXX XXXX, XXXX, I received some details from the representative, which he CC 'd to the Caliber Home Loans contacts, and who indicated that aside from the few details he provided, he would not be able to assist further, as he was no longer with that company. 

On Tuesday, XXXX XXXX, XXXX, having not received a reply from Caliber Home Loans to that email string, I emailed my XXXX contacts of record at Caliber Home Loans, requesting information on how to proceed with the final payment process and finalization of my XXXX loan. ( see attached email copy ) Having not received a response by Thursday, XXXX XXXX, XXXX, I sent another email to XXXX Caliber Home Loans contacts, referencing the original request to finalize the XXXX loan, and asking that they provide a response to ensure that I was emailing to the correct address, and that they remained the contact people. ( see attached email copy ) On Friday, XXXX XXXX, XXXX, I received an email response from XXXX of the Caliber Home Loans contacts, who apologized for the delay, saying that he would look into the account and call me with the details. ( see attached email copy ) Roughly a week later, on Thursday, XXXX XXXX, XXXX, still having not received any information, I again emailed Caliber Home Loans, requesting the information necessary to finalize the loan. ( see attached email copy ) Later that day, I received a phone call from the Caliber Home Loans contact, who said that the bank had partnered with a new third-party company ( XXXX ) to assist them in administering XXXX loans. He indicated that he would review my loan with XXXX of their representatives, and contact me the following day, Friday, XXXX XXXX, or by Monday, XXXX XXXX, XXXX at the latest. 

Having not heard from Caliber Home Loans by Wednesday, XXXX XXXX, XXXX, I emailed them again, asking for information on how to proceed with the final payment process. ( see attached email copy XXXX As of today, Wednesday, XXXX XXXX, XXXX, I have not received any information, on how to proceed with the final payment process and finalize the loan.