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FlyingPiggy

(3,738 posts) Tue Nov 19, 2024, 02:29 PM Nov 19

What's w these new mortgage lenders being so shady? [View all]

In the last 15 yrs my mortgage has been passed along to multiple mortgage lenders. And each one seems to be worse than the previous. This NewRez lender first contacted me stating I didn’t have homeowner’s insurance (I have it). State farm contacted them and let them know directly that I do in fact have insurance on my home. I now get a message that they are holding out $$ for homeowner’s insurance for me that they are about to pay FOR ME. Ugh. They do not have authorization to do any of this. Is there a place I can report them to?

21 replies

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Highlight:

What's w these new mortgage lenders being so shady? [View all] FlyingPiggy Nov 19 OP

CFPB WhiteTara Nov 19 #1

Better hurry. n/t Yavin4 Nov 19 #4

yep. Gone tomorrow. WhiteTara Nov 19 #7

I've filed a claim. This is shady as all get out. FlyingPiggy Nov 19 #15

Many Mortgage Companies Do That ProfessorGAC Nov 19 #2

Insurance? Really? getagrip_already Nov 19 #3

Yep! ProfessorGAC Nov 19 #5

Its common for years to escrow Ins & tax payments. But yours sounds different Callie1979 Nov 19 #6

At 71 years old, I have NEVER heard of a mortage company that DIDN'T include insurance and tax escrow fund Attilatheblond Nov 19 #8

I've owned home in three states obamanut2012 Nov 19 #9

I hate to tell you, it's "PITI". Principle, interest, taxes, and insurance. Intractable Nov 19 #10

I piti the fools.... lol getagrip_already Nov 19 #11

I can't answer. Sorry. I just print. Intractable Nov 19 #12

It was "PITI" with us - Principal, Interest, Taxes, Insurance hatrack Nov 20 #21

In all my experience w various lenders, not once has this been done. FlyingPiggy Nov 19 #16

And, We Experienced Tge Opposite ProfessorGAC Nov 19 #17

Even after you submitted proof of insurance? FlyingPiggy Nov 19 #18

We Didn't ProfessorGAC Nov 20 #19

The lender has a right to impound for insurance. Their investment needs to be protected. PeaceWave Nov 19 #13

There was ALREADY insurance. Proof was given to them. And they STILL collected money for homeowner's insurance FlyingPiggy Nov 19 #14

Its called Lender Placed insurance Pinkpenguin43 Nov 20 #20