Consumer complaint received 2026-02-20 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: Park Place Finance, LLC
State: CA

Complaint narrative:
I am disputing the loan servicing and lender administration for a California residential construction loan administered by XXXX XXXX XXXX ( lender/administrator ) and serviced by XXXX XXXX XXXX XXXX XXXX ). This complaint concerns documented servicing errors, payoff delay, coercive extension/waiver tactics, inconsistent draw administration, and failure to provide complete servicing documentation supporting disbursements, lien waiver collection, and itemized fees.

Key facts and timeline : 1. Construction draw/inspection administration failures : Throughout the project, draw approvals relied on third-party inspection reports that contain repeated inconsistencies, minimal notes, and revised/updated draw reports after disputes were raised.

Draw percentages and line items changed without owner approval and without supporting documentation being produced ( change orders, receipts, labor backup, unconditional lien waivers ). 
After I raised discrepancies, the lender/administrator shifted to reallocation and soft cost reimbursement activity, but the reallocations did not match what I submitted and line items were removed/added or reallocated without clear approval trail.

2. Post-maturity inconsistency and selective enforcement : The lender/administrator represented that draws could not be released after the maturity date, yet a draw disbursement was made after maturity.

Later, a revised draw amount was withheld while citing maturity/insurance in a selective and contradictory way.

3. Payoff delay ( slow roll ) that inflated fees/interest and worsened default posture : A payoff was requested on XX/XX/year> and was not produced until XX/XX/XXXX ( approximately 22 days later ). 
This delay materially harmed the borrower by inflating interest/fees and restricting the ability to refinance/resolve the loan. 
4. Coercive extension / broad release of liability : Extension processing was conditioned on signing documents containing broad waiver/release language.

The communications and documents presented the threat of default fees/foreclosure if the waiver was not signed, even while disputes were pending. This is coercive and indicates bad faith administration.

5. Default notice while disputes and extension discussions were active : XXXX issued a written Notice of Maturity and Default dated XX/XX/XXXX demanding a payoff/cure amount by XX/XX/XXXX and threatening foreclosure consequences. 
Meanwhile, prior disputes remained unresolved and extension discussions had been ongoing. 
6. Formal Notice of Error and Request for Information : I submitted a formal Notice of Error and Request for Information under Regulation X ( 12 CFR 1024.35 and 12 CFR 1024.36 ).

I requested : complete payment/servicing history ; certified itemization of all fees/interest ; identity of the current creditor/owner of the loan ; copies of note/security instrument/assignments ; and complete documentation supporting construction disbursements, inspections, and lien waiver collection.

The lender/administrator has responded with conclusory statements ( e.g., our response stands ) rather than producing the requested servicing documentation.

7. Confidentiality / third-party forwarding concern : After I contacted XXXX, my correspondence was forwarded to additional third parties. I do not know the role of those parties. I am requesting confirmation of the current creditor/investor and all parties receiving my servicing information.

Requested CFPB assistance : Please require the servicer/lender to provide a complete, document-supported response to the Notice of Error and Request for Information, correct any servicing errors, and halt adverse action while the dispute and Reg X investigation are pending .

Company public response: Company disputes the facts presented in the complaint
Company response to consumer: Closed with explanation