Universal American Mortgage Company, LLC Mortgage Complaint

Universal American Mortgage Company, LLC Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account New Jersey

On - -, 2015 I closed on a mortgage loan from the Universal American Mortgage Co to purchase a new home. I advised the mortgage company representative that I would likely payoff the mortgage in the near future and inquired if there were any prepayment penalties or expenses. I was assured there were not any of these. When I closed on the sale of my former home on - -, 2015 I called the company and asked for payoff information to payoff the mortgage on -/-/2015.. I did not receive the requested information and after several calls submitted an email. I finally received a call advising of the following : 1. My loan had been sold to a loan servicing company to be effective - -, 2015. 2. I could not payoff the loan until I had submitted the -/-/- payment to the original company. 3. On - -, 2015 I would then need to call the new company - The - - - to arrange for payoff. This decision or possibility was never disclosed during the loan process and will require me to pay over an extra month of interest.