Consumer complaint received 2018-02-10 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: The J. G. Wentworth Company
State: FL

Complaint narrative:
XXXX XXXX XXXX XXXX Documents JG Wentworth was supposed to follow XXXX XXXX   guidelines for Cap and Extend after the 90 day forbearance without prejudice or negative effect on credit. They are falsely stating people were denied when they did not process the loan modifications at all. There Chief Compliance Officer doesn't even know what cap and extend is and told me I had to do a Uniform Borrower Assistance Form. That's just not true. It is the Mortgage Assistance Application for disaster victims that myself and all disaster victims, for which they hold mortgages, need to complete. I had to find it online myself on the XXXX XXXX website. I am attaching it. I submitted it to the company and you can see highlighted at the bottom is a place for them to have inserted their servicer name, website, address and fax number. It is blank because they never gave me the correct modification form. I received online correspondence that I was in default even though I made my XXXX and XXXX payment. JG Wentworth is forcing me and other disaster victims into default. 

I should be making payments towards my trial period, except they never processed my Cap and Extend properly. 

JG Wentworths Senior VP of Compliance, XXXX XXXX, from JG Wentworth had no idea what Cap and Extend was when I spoke with him on the phone on XX/XX/XXXX. He also told me that I had to do a UNIFORM BORROWER ASSISTANCE FORM. He attempted to intimidate me by telling me he knew who I was and I was on his radar. I called him back right after our conversation to get his email so I could send him the documents JG Wentworth was required send to us ( since he was clueless ), but he didnt answer and has yet to return my call. 

I got a response from JG Wentworth on XX/XX/XXXX. Employee # XXXX called me XXXX XXXX, XX/XX/XXXX. She stated, verbally, that my interest and principle were going to go up, so I did not qualify for the cap and extend. That is not a legal reason for denial. She incorrectly stated that a notice was mailed to me about why I was denied. That never happened. We figured out that she was talking about the online notice that I have attached. That notice has no letterhead, no date and no reason for denial. That is illegal. I requested a legal notice be sent, but never received one. For your convenience, I am attaching all of XXXX XXXX violations and breach of contract. I have watermarked my concerns and observations. The proper procedures are accessible on XXXX XXXX website. I spoke with the NACA 's Members ' Assistance Program. The representative could not believe anyone gave XXXX XXXX a mortgage license. He said they were loan sharks and that he thought the reputable mortgage companies were complying with the law. XXXX XXXX has not gotten back to me with a resolution. JG Wentworth does have a license in FL, Texas and CA, all hit by disasters. That really concerns me. 

I am a XXXX XXXX XXXX. I work hard. I am not a banker or a finance manager, yet I understand the financial tools put in place to protect XX/XX/XXXX hurricane victims and their mortgages better than my mortgage servicer. Their criminal actions are putting disaster victims ' houses, credit, equity, and health in jeopardy. If myself and others are illegally forced to complete the Uniform Modification ( they have already ruined our excellent credit ratings by illegally putting us into default ) our modified mortgage interest rates and payments will go up. They are actually legally supposed to decrease interest rates. JG Wentworth is lying to their customers. That is fraud. They are trying to bully their customers in order to make money off of them. They are ruining credit- that's liable. They are in breach of contract. They never followed the correct procedures to process my loan in the 1st place, committing illegal predatory practices. I am sure there are thousands of us they are doing this to. They have to be doing this to every disaster victim that applied for a Cap and Extend. They certainly didn't process the requests correctly or at all in my case. This is going to disproportionately affect minorities, the poor and the elderly who have already suffered from disasters. JG Wentworth is illegally making money off of victims and their hardships. They are going to put me into foreclosure proceedings this month, even though I have submitted to them the correct form from XXXX XXXX website and have made my XXXX and XXXX payments. 

I can't believe that on XX/XX/XXXX XXXX XXXX, JG Wentworths Senior VP of Compliance put into writing on the Consumer Financial Protection Bureau that I was denied a cap and extend because my interest rate would go up. That is just not a reason for denial according to Fannie Mae 's regulations. They need to lower my interest rate to 4 % see XXXX XXXX Modification Interest Rate Exhibit XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX made them give me a Cap and Extend on XX/XX/XXXX. 4 days before XXXX XXXX,. JG Wentworths Senior VP of Compliance, made his fraudulent statement to the Federal Agency. XXXX XXXX   XXXX! XXXX This company is incompetent. The Cap and Extend was not even done correctly. Nowhere in the language does it state that ( because of JG Wentworth 's error processing our loan ) that the forbearance period was extended from XX/XX/XXXX-XX/XX/XXXX. I was told verbally by a representative from XXXX XXXX on XX/XX/XXXX that they were going to take my XXXX and XXXX payments ( I made to be in compliance with the trial period I was supposed to be on ) and they were going to tack them on to the XXXX and XXXX payment during the 90 day forbearance period. She said that I am delinquent on my XXXX and XXXX payments. I am really tired of trying to get this bank to comply with the law. The two payments that I made should go towards the principal and escrow and we should not be reported delinquent on the XXXX and XXXX payments. I need a document from JG Wentworth clarifying that the forbearance period was extended to cover the period between XX/XX/XXXX-XX/XX/XXXX and that the payments they received during the forbearance will go towards the principal and escrow. 

The Cap and Extend paperwork that JG Wentworth sent me is missing the modified interest rate of 4 %. The trial payment is using an interest rate of 4.1250. That is not right. XXXX XXXX XXXX & XXXX XXXX XXXXXXXX It's also missing important post trial period loan modification terms, such as the length of the loan. I really need a competent mortgage company. Thanks for all your help. 

I spoke to JG Wentworth employee # XXXX yesterday XX/XX/XXXX. She informed that that JG Wentworth did not have to abide by the XXXX XXXX modifications set forth on the XXXX XXXX   website. She told me that JG Wentworth did not have to provide me with any terms of the modification ( the interest rate and the term of the loan ) in the Cap and Extend Modification Document that they issued to me onXX/XX/XXXX. I literally told her to go to the XXXX XXXX website and look at what they needed to provide to disaster victims. She pressured me to accept a modification without any terms on the phone. I will not be a victim of this fraud. They are knowingly misrepresenting the truth, providing false and misleading information, in order to induce me to act to my own detriment. JG Wentworths Senior VP of Compliance, XXXX XXXX, lied in his response to the Consumer Financial Protection Bureau, providing the Federal agency false representation of a material fact. I have provided you with that documentation. They are criminals, taking advantage of people who have been hit by a natural disaster. This is overt breach of contract, negligence and fraud. They are engaging in criminally deceptive, predatory practices. They have lied to me repeatedly and tried to force me into a choice between foreclosure or signing their bogus documents. They are intentionally obstructing the legal process to obtain a Cap and Extend. We would like to sign our Cap and extend, but we need the correct documents. I sent XXXX XXXX email accepting the Cap and Extend with the 4 % posted standard modification interest rate and 40 year term, but that is not who processes my loan. I am attempting to send it directly through XXXX XXXX for approval because JG Wentworth is incompetent and will not follow the law. The two payments that I made in XXXX and XXXX need to be applied to the principle and the escrow. JG Wentworth needs to correct and recalculate my trial period payments. They need to remove the late fees and the inspection fee. 
If XXXX XXXXe continues to allow JG Wentworth to do this to people, they are culpable. This is truly causing me pain and suffering and has consumed hundreds of hours of my time. Please sanction and revoke JG Wentworths license and give their victims a competent and trustworthy servicer. We are not the only people they are doing this too. 

" Soliciting a Borrower for a Cap and Extend Modification for Disaster Relief The servicer must mail the borrower a Streamlined Modification Trial Period Plan Notice Evaluation Notice ( Streamlined Modification Post-Disaster Forbearance Trial Period Plan Notice ) within five days of the servicers decision to offer a Cap and Extend Modification for Disaster Relief if the mortgage loan satisfies the requirements described in Determining Eligibility for a XXXX XXXX Cap and Extend Modification for Disaster Relief and Determining the XXXX XXXX Cap and Extend Modification for Disaster Relief Terms. '' It is supposed to have the terms and interest rates. XXXX XXXX XXXXXXXX Paragraph 2 of Evaluation Notice STREAMLINED MODIFICATION POST-DISASTER FORBEARANCE TRIAL PERIOD PLAN NOTICEdocument states Proposed Modification Terms If you successfully complete the Trial Period Plan by making the required payments, you will receive a modification with an interest rate of [ ENTER POSTED STANDARD MODIFICATION INTEREST RATE ] %, which will be fixed for 40 years from the date the modification is effective. If we determine that the unpaid balance of your Mortgage is more than 115 % of the value of your home, you will be eligible to have up to 30 % of your principal balance deferred, and the deferred amount will not be subject to any interest rate charges. Moreover, the deferred principal amount will not be due and payable until the earliest of ( i ) the end of the 40-year term of the modified mortgage, ( ii ) the interest-bearing balance of your loan has been paid off, ( iii ) any sale or transfer of your interest in the property, or ( iv ) a refinance of your mortgage loan. 

If you do not want to modify your mortgage loan into a 40-year fixed rate loan, and believe that you can afford a monthly payment that is equivalent or almost equivalent to your current monthly principal and interest payment amount and would rather keep some of the existing terms of your loan, please read the first Frequently Asked Question below, and contact us immediately at [ SERVICER PHONE NUMBER ]. 
XXXX XXXX XXXX I want a competent mortgage Servicer. This has been really stressful. Its the 3rd time this co. has majorly messed up my mortgage. Twice they made duplicate payments to homeowners insurance companies. One time they paid it to two different companies, which was a disaster. I didnt realize for 6 months until they re-amertized the escrow raising my mortgage payment hundreds of dollars. JG Wentworth didnt want to pay me back until I complained to the state of FL. This company is incompetent and just causes me major headache after major headache. Also, their customer service is terrible and the people that run it are rude and unethical. I hope someone address this large scale problem. 
Sincerely, XXXX XXXX Complaint made against XXXX XXXX XXXX XXXX XXXX Customer Service Department XXXX. XXXX XXXX XXXX, NJ XXXX ( XXXX ) XXXX

Company response to consumer: Closed with explanation