Consumer complaint received 2022-09-23
Product: Mortgage — Other type of mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: MIDFIRST BANK (NY)

Background : During the XXXX  while my loan was on forbearance XXXX sold my mortgage to XXXX XXXX. I have always made my mortgage payments when one  was due and am currently up to date. 

Every experience with XXXX XXXX  has been horrible. At best they are incompetent but I fear there could be something else in their business practices that requires further investigation. 

Issue 1 : XXXX XXXX  informed me I was eligible for a loan modification. The first document they sent me had my name as well as my Tenant in XXXX ( XXXX ) listed as borrowers. They were clearly trying to add liability for the loan to someone that was not on the original loan they bought. I informed them this document was unacceptable and XXXX would not sign it. 

Issue 2 : They provided me with an updated loan modification document that still required my tenant in common to sign in all areas I needed to sign. The document still called my tenant in common a borrower. All that was added was something that looked like it was added by an intern saying " XXXX is not liable for this mortgage ''. They still required her to sign everywhere as a borrower, referred to her as a borrower but put in 1 line to make whether she was liable questionable. We consulted a lawyer who said it was the worst document he had ever seen and that she should not sign the document. 

At this point to complete the modification I paid for a " Quit Claim Deed '' to be processed to remove her name from the deed so she would also be removed from the loan document. Given the stress of this process I was happy to mail in the completed documents and confirm with their customer services that everything was complete. I was relieved to finally be done with their incompetence and questionable business practices Unfortunately this week ( XX/XX/21 ) I received a call from them that the documents I submitted had been rejected. Finally XXXX XXXX  admitted the error was caused by them. They confirmed I had done everything correctly and that their underwriting had caused the error. They demanded I re-sign all the documents within 2 days to correct their errors. They would not promise me any compensation for the time and stress they have caused me. They would not promise the person that made the error on their end would be punished. In the end because of their mistake I had to suffer the lost time and anxiety. Given the proven incompetence and questionable business practices outlined in Issues 1 and 2 I will not need to spend hours reviewing and signing the document in order to get the modification approved and XXXX XXXX  admits fault yet will not suffer any negative consequences of their actions. 

I have written on many review websites about this experience but I assume XXXX just buys Mortgages and does not care how they treat their clients or about their awful reviews since the clients do not choose them and have no way out. 

This is why I have turned to the government agencies to hold them accountable. I strongly encourage you to review whether this company should be permitted to purchase loans and treat other people in the same manner they have treated me. I did not choose this company and now am stuck with their questionable business practices, inept customer service and horrible management for 30 years.