Consumer complaint received 2025-05-09 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Interest rate
Company: Mortgage Research Center, LLC
State: LA

Complaint narrative:
I am XXXX XXXX military in Louisiana. On XX/XX/XXXX, I submitted a SCRA ( Service-member Civil Relief Act ) Request for the Louisiana State Statue 29 ( not federal ). The state statue ( state provision ) is for my duration of service in the military because I am stationed in Louisiana since XX/XX/XXXX. I've been in since, XX/XX/XXXX until present day. The Statue states credit accounts should be at 6 % interest or less during the duration of XXXX XXXX. I have talked to XXXX XXXX customer service and My mortgage team about this but they have said the lack of knowledge they have on the subject. I also emailed them with A Statue 29 SCRA request with proof of my XXXX XXXX service and the statue letter with the details of the statue on XX/XX/XXXX. Benefit applying for : Louisiana Servicemembers Civil Relief Act Statute # : Louisiana Revised Statute Title 29:312 To Whom it may Concern, I was recently informed that under Louisiana Revised statute tile 29:312 ( Louisiana Servicemembers Civil Relief Act ) Im entitled to having my interest rate lowered to 6 % and that I can also get back payment for anything Ive paid over 6 % from XX/XX/XXXX. This is for individuals stationed in Louisiana. Ive been stationed at XXXX XXXX, LA since XX/XX/XXXX. So theres no misunderstanding, Im applying for this benefit under the Louisiana Statute and not the Federal. I understand the federal law limits me to debt accrued prior to service, but the Louisiana Statute does not. Thanks, and see below for full statute : Universal Citation : LA Rev Stat 29:312 312. Limits on creditor interest rates A. Notwithstanding any provision of law to the contrary, no creditor in connection with an obligation entered into on or after XX/XX/XXXX, shall charge or collect from a person, or spouse of a person, who is on XXXX XXXX interest or finance charges exceeding six percent per annum during the period that the person is XXXX on XXXX XXXX. B. Notwithstanding any provision of law to the contrary, interest or finance charges in excess of six percent per annum that otherwise would be incurred but for the prohibition in Subsection A of this Section are forgiven. C. The amount of any periodic payment due from a person, or spouse of a person, who is on XXXX XXXX under the terms of the obligation shall be reduced by the amount of the interest and finance charges forgiven under Subsection B of this Section that is allocable to the period for which the periodic payment is made. D. In order for an obligation to be subject to the interest and finance charges limitation of this Section, the person, or spouse of the person on XXXX XXXX, shall provide the creditor with written notice and a copy of the military or gubernatorial orders calling the person to XXXX XXXX and of any orders further extending XXXX XXXX, not later than XXXX XXXX XXXX days after the date of the person 's termination of or release from XXXX XXXX. XXXX Upon receipt of the written notice and a copy of the orders referred to in Subsection D of this Section, the creditor shall treat the obligation in accordance with Subsection A of this Section, effective as of the date on which the person is on XXXX XXXX. F. A court may grant a creditor relief from the interest and finance charges limitation of this Section, if, in the opinion of the court, the ability of the person, or spouse of the person, on XXXX XXXX to pay interest or finance charges with respect to the obligation at a rate in excess of six percent per annum is not materially affected by reason of the person 's service on XXXX XXXX.

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