Consumer complaint received 2023-12-26
Product: Mortgage — VA mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: Guild Holdings Company (TX)

I am writing to submit a comprehensive complaint against Guild Mortgage Company, outlining a series of significant grievances related to my mortgage account. The issues I am highlighting encompass payment processing errors, assumption request denials, threats of foreclosure, potential UCC violations, suspected securities fraud, and a lack of responsiveness to document requests. Additionally, I am formally requesting compensation for the period during which our requests have gone unanswered, and I am seeking remedial measures to address the ongoing challenges we face.

Payment Processing Errors : On or around XX/XX/2023, I discovered a payment processing error initiated by my bank, XXXX. The bank 's internal error halted all payments from processing through my account. By the time the issue was rectified, Guild Mortgage had attempted to process the funds, leading to rejection due to a fraud alert on the account. Simultaneously, our names were removed from monthly financial statements.

Assumption Request Denial : Guild Mortgage denied our assumption request, despite a court-ordered removal of XXXX XXXX XXXX name from the title. The denial lacks substantive explanations, and Guild Mortgage attempted to coerce me into signing another application for credit by stating it was an assumption request application. The application clearly had language that ties to request for credit or refinancing. They intended to have me sign the security instrument and sell it on the secondary market. This was snot a credit or refinance transaction. 

Violated UCC Article 9 - Secured Transactions : discrepancies in the filing of a UCC financing statement as there is no UCC filing in database which means Guild has no security interests in our mortgage security. Guild has no claim to our security. A search with the Secretary of State revealed that neither my name nor XXXX XXXXXXXX XXXX name is listed as debtors in the UCC database for the mortgage security, potentially indicating UCC violations.

Misrepresentation and Threats of Foreclosure : Guild Mortgage sent a delinquency notice threatening foreclosure without proper legal notice, even though Texas law dictates a XXXX waiting period after delinquency. Further the notice was not sent certified mail or in proper legal format so the notice is null and void. 

UCC 1-308 Reservation of Rights : We do not waive our reservation of rights under UCC 1-308 .

Securities Fraud and False Reporting : Guild Mortgage may be engaging in securities fraud by intentionally misreporting loan status to investors and trading our security in the secondary market without notification.

Guild mortgage has violated UCC Article 8 - Investment Securities if our mortgage has been bundled and sold as part of a securitization process.

Key Guild Mortgage Personnel and Interactions : XXXX and XXXX from the loan department and customer service were contacted in early XXXX to address the removal of our names from monthly statements and the internal error. Despite our efforts, discrepancies persisted, leading to confusion and contradictory information.

Details of Conversations : Guild service customer service representative indicated on XX/XX/2023 that an internal error was occurring within Guild Mortgage, resulting in a blank statements being issued. A paper statement was promised but has not been received to date. 

XXXX XXXX, the manager over assumptions, was involved in the assumption request denial process. Communication with her ceased abruptly after our request for written clarification. XXXX XXXX is Assumption Dept representative. We we asked for clarification of n denial why I still have not received notice yet had XXXX days to appeal, why was no address given on XXXX document to appeal and why I was being asked information that aligned with application for credit or refinancing I also reiterated that per their XXXX month request to show I managed the mortgage security payment on my own, I superseded that by paying mortgage soley by self for over a year. Guild have also violated language fraud statutes.

Reports to Loan Department Representatives : In our interactions with Guild Mortgage 's loan department representatives, conflicting information was provided regarding the removal of our names from the security instrument. Despite the loan officer stating that he would make note of it as to why we have not paid, he began to attempt to pressure us into loan counseling or some sort of repayment plan versus the issue being addressed as to why we have not paid our mortgage security. On or around XX/XX/XXXX, I receive notice from his department that we are in default of of mortgage security which should not be the case if he entered into notes the problem with paying and how it was due to our names being removed from the mortgage security. and not paying our mortgage security. acknowledging the error, attempts were made to pressure me into signing a credit request, potentially for secondary market dealings.

Request for Compensation and Remedial Measures : I formally request compensation in the amount of {$1900.00} for every month our requests have gone unanswered. This amount includes inconvenience, mental frustration, and the exacerbation of our mental and physical XXXX. Both my husband and I are XXXX veterans, and this situation has added undue stress to our lives. We also request any other compensation as a result of us reporting the mortgage abuse and findings as a result of.

I request that no foreclosure process be initiated, and no further payments be required until all requested documents and security status are corrected. This is crucial to ensuring a fair resolution to our ongoing challenges.

Additionally, I urge an investigation into XXXX XXXX XXXX XXXX XXXX XXXX XXXX and all the investors involved in this security, including those participating in residential mortgage-backed security ( RMBS ) practices. This is necessary to ensure transparency and accountability in the handling of our mortgage account.