Consumer complaint received 2016-07-01
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Loan servicing, payments, escrow account — 
Company: Caliber Home Loans, Inc. (AK)

My house flooded out causing damages that are in excess of XXXX. I am insured with XXXX XXXX. The insurance company issued a check in the amount of a little over XXXX to both the mortgage company and me. At that time it was my understanding that my mortgage company was XXXX and it was when I called to notify them of the loss at which time I was told that XXXX would simply endorse the check back to me so I could get the rapairs made. Two hours later XXXX contacted me back and told me that my mortgage had been sold to Caliber Home Loans. I then called them and told them what had happened. I was told to send them the check and that they would then send another appraiser over to make sure that XXXX XXXX had figured enough for the damages. I told them that I had agreed to do the job for what XXXX XXXX was paying to which I was informed that Caliber does not let " homeowner '' do their own repair and that it would take up to 5 weeks for them to have it appraised and get someone over to give a bid. I told them that I was a licensed contracter and I would make the repairs myself, at this time I was told that I would NOT be paid for any repairs made. I have made all the repairs with the exception of installing the carpet and the countertops. I have put out over XXXX total into my house at this time. Caliber has told me that I would have the total check sent to me and that if I sent a self addressed pre paid envelope for over night delivery that that I would have the check in 3-5 days. That was almost a month ago. I have been told this by numerous people yet at the same time everytime I talk to someone I get a different story. Last Thursday it was requested that I send them my receipts which I did. I was told I would get a check in 3-5 business days. TODAY I was told that a check for XXXX was sent out yesterday and that it would be up to 5 weeks before another one was sent. My house has no dining room, kitchen, master bedroom, dining room or master bathroom since XX/XX/XXXX and tomorrow is XXXX XXXX. This is totally unacceptable. My original paperwork from Caliber says that the only thing they will be doing is accepting the mortgage payments and all other parts of the mortgage agreement will remain in force. XXXX policy was to endorse the check back to the homeowner and let them get the job done either by themselves or a contractor of their choosing, THAT IS WHAT CALIBER IS SUPPOSE TO DO AS WELL, however they have point blank told me personally that they own my house and that I only pay rent on it. I asked them if they had contractors come give bids on my house and they bid morel than what XXXX XXXX 's quote was what would happen and they told me they would go to XXXX XXXX for more money, I then asked them if the bids came in less than what XXXX XXXX quoted, if I got the money back and I was told " NO, that 's our money ''. They seem to forget that I have personal losses involved as well, I have property that was damaged. I have paid out for the water mitigation and drying out, yet I get no money for that whatsoever. I 'm going on 90 days of having to live like this and put my money out of my pocket on this job, that is not right. The majority of contractors get money " up front '' before even starting the project and if I were a " preferred '' contractor of XXXX they would have made a single copy check to me as a contractor instead of a dual check to the contractor AND the mortgage company. I am due my money, they have received a proper invoice yet they fail to pay anything more than XXXX % when the project is at approximately XXXX %.