Consumer complaint received 2025-07-18 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: GUARANTEED RATE INC.
State: IL

Complaint narrative:
On XX/XX/XXXX and XX/XX/XXXX, my mortage company ( Guarenteed ) Rate ( services by XXXX XXXX  charged two {$25.00} fees for when an electronic payments were not processed by my bank. There is a {$50000.00} per day limit that I was unaware of. They waived one of the fees and I paid the other {$25.00} fee and rescheduled the payments to be under the limit. 

Unfortuantely, despite the next series of {$50000.00} payments scheduled on XX/XX/XXXX and XX/XX/XXXX, and with only one payment being allowed to be submitted per day on the Rate servicing site, Rate processed 2 payments scheduled XX/XX/XXXX, resulting in one being declined. I was again charged a {$25.00} fee due to the amount being over the limit. 

I called on XX/XX/year> to discuss the {$25.00} fee Rate charged for the payment submitted on Monday, XX/XX/XXXX and surprisingly was told to email the " proof '' from my bank this payment was " over the limit '', so I did that, but XXXX still declined to provide any credit. I am confused why they tried to process {$100000.00} in a single day since they indicate the daily limit must be under this amount. 

Previous submitted payments had staggered the debits out to subsequent days, and the payment posting date never previously matched the debit date. Normally the payment is applied to my account on the indicated day and is debited from my account a day or two later. This debit process is handled by Rate internal systems that have no control over. I feel that, as a customer, the internal working mechanisms should not be my concern- but even if it is, I have no control over when a series of ACH payments are submitted on the same day. 

It seems like on XX/XX/XXXX, their system began debiting payments ACH payments much faster - no one at the call center seemed to know what changed. Also, as a customer, I don't feel this should be my concern.

After reviewing the fee schedule ( attached ), I do not see anything indicating there would be a fee for any ACH payments that are over the limit fee. There is a fee for non-sufficient funds, but as provided via email, that was not the problem here. I was also unable to find anything in my mortgage documents substantiating this fee. I requested from RateXXXX that they provide the loan information to furnish this agreement, but they were either unable or unwilling to do so. At the same time, they also refused to provide necessary credits. 

Filing this complaint to request a refund of {$50.00} for improperly charged fees, categorized as " late/other ''. Please note that the payments were not late and were intended to pay down my principal balance outside of my regular mortgage payment. 

I have attached copies of the " Over the limit '' e-mails provided by my bank, XXXX, also provided to Rate/XXXX I am also including a copy of the fee scheduled provided by RateXXXX as well as the ledger on my account statement.

Company response to consumer: Closed with explanation