Consumer complaint received 2020-03-05
Product: Mortgage — VA mortgage
Issue: Trouble during payment process — 
Company: GUARANTEED RATE INC. (MD)

We closed on our house on XX/XX/XXXX and I was provided two payment coupons for payment to Guaranteed Rate Inc . Both the XXXX and XXXX payments were submitted timely and have been cashed. On XX/XX/XXXX, I received a mortgage statement from Guaranteed Rate ( not selling the loan, so servicing team ) assigning me a new loan number and demanding payment on both XXXX and XXXX and demanding payment be made within 1 day, by XX/XX/XXXX. The statement showed my account past due. The statement also showed that it took them 60 days to post my escrow closing payment. I called the company immediately and provided details about my account including details of the checks, dates, amounts and dates cashed. The customer service representative said he made notes on my account and would put a hold on my account until the end of XXXX. 

On XX/XX/XXXX I received additional notification that my account was being reported to a collection agency. I called the collection department and nothing had been noted on my account from the prior call - no hold, no notes of the payment information, anything. The woman in collections did make notes on the account. She also said it was my responsibility to send in copies of the cancelled checks as well as the temporary payment coupons because she could see no payments in the system under either of the two account numbers associated with my account. If it was my responsibility, why don't I just self service my own loan. Because this impacts my credit and financial stability, I will do what I need to do to fix the situation. 

On XX/XX/XXXX, I went to the bank and got official images of the XXXX and XXXX payments ( front and back ) and I sent to the collections department a detailed letter, the two temporary coupons and the check images. I followed up with a call to the collections department and they told me not to worry about it, it would eventually work itself out and I could go online to monitor my account. They also said the collection letter was an automated system generated letter and I could ignore it. They also advised that I could monitor my account online and provided the website. When I tried to set up an online account, my computer 's firewall said it was not a safe or secure website that could be trusted. 

I understand in the mortgage industry, many mortgages are sold to servicing companies, but with the digital age, it should not take this long. Additionally, because my loan is not actually being sold, there is no excuse for a delay in the set-up. I closed with Guaranteed Rate and Guaranteed Rate is my servicing company unfortunately. I have spent more than 15 hours on the phone with them and providing information to them that should already be within their purview. And to have their customer service representatives tell me don't worry about the correspondence because it will work itself out. I am sorry, my stellar credit is something I strive and work hard for. To have some non-trained, unknowledgeable person tell me it isn't a big deal is unacceptable. 

This company is abysmal at best. They were a partner with the relocation company my company used. I have escalated this to the relocation company and they are addressing with their supply chain team and reconsidering whether or not they want to continue this partnership. 

No one should use Guaranteed Rate Inc . They can provide low rates because they have untrained, inexperienced people doing the work, which reduces their overhead and gives them a market advantage on rates they can offer.