Consumer complaint received 2024-07-27 00:00:00
Product: Mortgage — VA mortgage
Issue: Trouble during payment process — Loan sold or transferred to another company
Company: EQUITY LOANS LLC
State: ME

Complaint narrative:
I hope this letter finds you well. I am writing to formally express my concerns and demand the immediate release of my mortgage obligation due to multiple breaches of contract and violations of the Real Estate Settlement Procedures Act ( RESPA ). 

Background and Timeline : XXXX XXXX XXXX XXXX XXXX claims to have sent a " Goodbye '' letter, notifying me of the transfer of my mortgage to XXXX, effective XX/XX/2024. 

XX/XX/2024 : The " Goodbye '' letter was uploaded to my account, not within the required XXXX days before the transfer date, in violation of RESPA. 

XX/XX/2024 : Upon receiving my XXXX  XXXX payment, I attempted to make my mortgage payment, but the balance showed {$0.00}. 

XX/XX/2024 : XXXX claims to have sent a " Welcome '' email, which I did not open until XX/XX/2024. XXXX falsely stated that I opened the email on XX/XX/2024. 

XX/XX/2024 : I received a physical " Welcome '' letter from XXXX, again not within the required timeframe, in violation of RESPA. 

XX/XX/2024 : After being informed about the email from XXXX, I located it unopened and took a screenshot before opening it. 

XX/XX/2024 : XXXX denied my request for the originally signed loan documents, stating I must obtain them from XXXX. 

Violations : Equity Prime Mortgage ( EPM ) : Failure to Provide Timely Notice : The " Goodbye '' letter was uploaded to my account on XX/XX/2024, not within the required 15 days before the transfer date, violating 12 CFR 1024.33 ( b ).

Provision of Incorrect Contact Information : EPM provided a non-functional contact number for XXXX, delaying my ability to resolve the matter. 

Refusal to Provide Documents : EPM denied my access to the originally signed loan documents, which is a violation of my rights under RESPA and the Truth in Lending Act ( TILA ). 







XXXX : Failure to Provide Timely Notice : XXXX did not send a physical " Welcome '' letter until XX/XX/2024, well after the transfer date, violating XXXX XXXX XXXX ( b ). 

False Statements : XXXX falsely stated that I had opened the email on XX/XX/2024, which was not true, constituting deceptive practices under RESPA and the Fair Debt Collection Practices Act ( FDCPA ). 

Impact : As a XXXX XXXX XXXX  veteran with significant physical and mental health challenges, the mishandling of my mortgage transfer has caused me immense stress, sleepless nights, and XXXX. This situation could have jeopardized my family 's first true sense of home and stability. 

Additionally, as the XXXX XXXX XXXX XXXX XXXX XXXX, this ongoing issue has severely affected my business. I have missed multiple opportunities to participate in events that would have brought exposure to my brand due to the mental anguish and time consumed by addressing this problem. I should not have to focus on such a ridiculous problem, nor should I have to prove to a company their wrongdoings. I could never imagine being a business owner that attempts to cover up having done something wrong.

Company response to consumer: Closed with explanation