Consumer complaint received 2019-07-02
Product: Mortgage — FHA mortgage
Issue: Trouble during payment process — 
Company: LAKEVIEW LOAN SERVICING, LLC (LA)

On XX/XX/XXXX my home, in XXXX, LA, was totally destroyed by a tornado. 

Subsequently my insurer, XXXX XXXX, issued me a check ( copy attached ) for payment of my policy in full {$330.00}, XXXX I received the check on XX/XX/XXXX and called the mortgage service company, Lakeview Loan Servicing , LLC ( LAKEVIEW ) of  XXXX, SC. 

LAKEVIEW directed me to the website of XXXX ( XXXX  ) where I created an account and read through the instructions. I was immediately struck by how vague everything seemed and was disinclined to endorse my $ XXXX check without at least asking someone else how this is supposed to go. Not one person I spoke to - my neighbors, attorneys, bankers, mortgage people - had any experience other than the mortgage company endorsed the check and gave it back to THEM. Finally on XX/XX/XXXX I signed the check and send it overnight. 

But I was stymied. There was literally no one to talk to that could tell me anything beyond the script in front of them. My first call to XXXX on XX/XX/XXXX was to request some forms ( attached ) which they required. I spoke to XXXX, she was very nice and explained that website wasn't working right and for me to wait a day or two and try again. When I asked her to email me the forms she said, " We don't do email. It's too risky. '' She offered to email the forms. It took over two weeks for me to receive them. Meanwhile in a few days I was able to download the forms a filed to receive a payment to pay my Architectural fees. So far nothing. 

My bigger issue, than trying to get {$20000.00} for the architectural fees, was the {$100000.00} or so that represented my equity - funds they were holding beyond my mortgage balance. I got nowhere. I did have one phone rep ( not XXXX ) tell me " It is illegal for us to keep that money ... '' as if the fact that it was illegal automatically meant they wouldn't do it. I laughed out loud at her. 

I spare you the rest up until today. Today, I took a different approach. I called my original mortgage broker and told him I need the name of their general counsel so my attorney could name them in my suit. In a few minutes I received a phone call from XXXX XXXX, CFO of XXXX XXXX, XXXX, NMLS LOC ID # XXXX T : XXXX XXXX | XXXX XXXX XXXX F : XXXX XXXX XXXX E : XXXX W : XXXX Mr. XXXX was very attentive and sensitive to my situation. His suggestion was that I file a complain with CFPB. He also provided me with the information of the LAKEVIEW CEO : XXXX XXXX, XXXX XXXX, XXXX, XXXX XXXX XXXX  XXXX XXXX, XXXX XXXX, XXXX XXXX, FL XXXX Tel:XXXX So here we are. 

In terms of timeline Mr. XXXX called me while I was having lunch with my wife around XXXX XXXX. He followed up with an email at XXXX XXXX and promised " Well try to reach out through our channels. '' Shortly after his email I was on the phone with CFPB 's rep XXXX XXXX. She walked me through your process. While I was on the phone with her, I looked at the XXXX website again and discovered an entry - not there before lunch - that my claim had been escalated for " REVIEW '' on XX/XX/XXXX, last Friday. Less than 30 minutes later I checked again and happily discovered that my check had been " APPROVED. '' By XXXX they had posted a XXXX   tracking number. Mr. XXXX said he had not influenced LAKEVIEWs actions. I think that is unlikely. 

So what next? I am still XXXX. According their website they will issue {$40000.00} immediately, 50 % at some interim point and the rest upon final completion and acceptance. Zero detail on what " interim '' is or what " final completion is. '' At this point I've only been promised the funds that are lawfully mine ( and unlawfully held for a month ) although I can presume I'll have them tomorrow. As they are unlikely to send certified funds I'll likely have to wait for collected funds before I can use them. 

It's clear to me in order to rebuild my house I will have to pursue construction financing on my own. This is unacceptable as I continue to make mortgage payments while they are holding my money at zero interest.