Consumer complaint received 2025-04-16 00:00:00
Product: Mortgage — Other type of mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: NEW YORK COMMUNITY BANCORP INC
State: FL

Complaint narrative:
There are separate issues with this loan. First I was mailed a physcial statement dated XX/XX/year>2025 stating my interest plus escrow payment was a total of {$4100.00}. This was paid on line using the XXXX site on XX/XX/XXXX. As of XX/XX/XXXX the amount had not been dedcuted from my bank account and the amount to pay also now shows a different amount of {$4600.00}. There is no way to pay the amount of the statement. This has happened in the past and it took XXXX well over three weeks to correct.

This is a one time close construction loan. Despite that I was asked for additional documents to close out the loan on XXXX XXXX. The documents were supplied on XX/XX/XXXX. My last conversation with the representative converting the loan indicated the final draw had to have been processed in order to convert the loan. 

The final draw was requested on XX/XX/XXXX by the contractor. On XX/XX/XXXX the lender indicated that a line item needed to be adjusted. It was done by the contractor on XX/XX/XXXX. Then on XX/XX/XXXX we received another message from the lender that the mirrors were not in, despite the contract specifically stating the mirrors would be supplied by us the homeowners. The contractor immediately replied same day as such. On XX/XX/XXXX the lender responded they have sent an exception with no response. On XX/XX/XXXX the contractor asked for an update to the draw request. They received a response that a specialist would be with them shortly. Later that day we received notice the draw was approved and it should be received in 2-3 days. However, the lender was now going to hold back {$2000.00} for painting. I responded on XX/XX/XXXX the painting was done and that the entire final draw should be processed. I received a response same day from the lender that it will be revised ASAP. We then received an email later on XX/XX/XXXX the the draw for {$47000.00} would be processed in 2-3 days. On XX/XX/XXXX, we no funds being received the contractor and I in two separate emails asked for a status of the final draw. On XX/XX/XXXX the lender responded " Note : Due to system updates, XXXX XXXXXXXX, was temporarily unable to fund draw disbursements from XXXX to XXXX. XXXX has confirmed the disbursement blackout period is over, and theyve started disbursements as of this morning. The wire should be initiated very shortly. XXXX be sure to follow up with them as well to request a rush on this file. '' On XX/XX/XXXX I emailed the lender asking the status of the wire for the final draw. A response from lender the same day was the wire approval was being completed that day. On XX/XX/XXXX the final draw was still not received by the contract. I once again asked for a status and requested the federal wire id confirmation number. The lender responded they are checkin on the status of the funds at the it was approved the previous Friday. On XX/XX/XXXX I called the lender and spoke with them and asked to speak with someone that could confirm the wire would be sent out. I followed up that call with an email. I received a voice message back from another lender reprsentative stating in was requested on Friday and that it would take 3 days. As of XX/XX/XXXX the wire was not received by the contractor. 

Lastly, it has been communicated to me that if the final draw was not paid by XX/XX/XXXX, I would be responsible for another month on interest only payment and that this would delay the process to convert my loan to permanent. I believe these are calculated delays on the part of the lender to postpone the final draw in order to collect another month of interest only payment. Additionally, the lender has been irresponsible, at best, in the billing practices and physical statements differ from what is online and then you are not able to pay the physical statement amount on line. 

These are not the only issues I have had with XXXX. At every draw request there have been needles delays on their end in providing payments to the contract. We would receive a notice stating the draw would be processed in 2-3 days only to get another message on the XXXX day stating the lender needed another pieced of information before processing the draw. This happened multiple times and every draw request which lead to a delay in contract and hence having me to pay prolonged interest only payments due to the negligence on the part of the lender.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation