Review and analysis of 98 consumer complaints against Franklin American Mortgage Company
Out of the 98 consumer complaints against Franklin American Mortgage Company Mortgage, 24% were disputed by the consumer (i.e. the consumer was not happy with how Franklin American Mortgage Company responded to their complaint) and 97% were processed in a timely manner. 4% of consumer complaints against Franklin American Mortgage Company resulted in the consumer receiving monetary compensation (e.g. money, cash reimbursement, etc.) and 5% resulted in non-monetary compensation.
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Franklin American Mortgage Company loan servicing, payments, escrow account May 23, 2016 - Had a storm hit my home, with tree falling on home, wind, hail damage to home, vehicles, pool, hotub. - - - - took almost 2 months to write check which is around - in total. While waiting for insurance company, I had to start repairs, hire contractors, pay contractors, and also did a lot of work myself, since I use to be a contractor and built homes. I paid for work, supplies, and contractors myself, out of pocket, and currently have paid -, somewhere around - in repairs out of my pocket. I received a check to me and Franklin American mortgage. I contact them about endorsi... |
Franklin American Mortgage Company application, originator, mortgage broker May 23, 2016 - I apply for a Mortgage Loan, I received Underwriting approval with 3 % down payment on a conventional loan. All of the sudden the bank ( Franklin American ) told me I will need - % down payment. They know I ca n't come out with that money because they have my bank statement. I am sure they did not like my loan maybe because of the area i 'm buying my house ( the dont want to lend money on that area ) my income or because the seller lost his house in Federal Court. Or maybe because I am pregnant and somehow they find out that. The Bank ( Franklin American ) allegedly found out the seller h... |
Franklin American Mortgage Company loan servicing, payments, escrow account April 21, 2016 - I have been in my home for 18 months. On - -, - the current servicer of my mortgage ran an escrow analysis that resulted in my monthly mortgage payment doubling from $1400.00 to $2900.00. This was reportedly the result of the - property taxes being grossly underestimated in the payment schedule presented to me. I have a 30-year conventional loan with a fixed interest rate. The new payment of $2900.00 is being imposed over 12 months in order to reimburse the - Escrow shortage and to make the - Escrow balance current. My finances will not allow me to make these substantia... |
Franklin American Mortgage Company loan servicing, payments, escrow account April 10, 2016 - I had to declare bankruptcy 5 years ago. I already had a mortgage with a local bank, but - bought my mortgage, then apparently gave it to their sister company, - ... Every month, - would PLACE insurance on my home. I NEVER had an uninsured home. Now I 'm checking my credit report, and it seems as if my mortgage was under my br, therefore they were being paid double. PLUS ... - it says my balance is - ... and I have still been paying each month ... I have called the - about - last year and now there is a class action lawsuits gains them .... I just want back what is mine, t... |
Franklin American Mortgage Company loan servicing, payments, escrow account March 30, 2016 - -/-/- we received a supplemental property tax bill from the county ( - County, California ) tax collector. We called customer care at our mortgage company, Franklin American, and the rep we spoke to said to fax them the bill and they would pay it out of the escrow account funds. We faxed it to the rep at ( - ) -, which we subsequently learned was the fax number for that representative and not a general company fax number. This supports our contention that the conversation took place, because we would n't have had that number otherwise. Anyway, we assumed that the bill would be ... |
Franklin American Mortgage Company application, originator, mortgage broker March 20, 2016 - - - - - Va - Dob -/-/- SS # - - has agreed to remove the unauthorized inquiry from my - credit profile franklin America -/-/- YOU Have MY ID Attached so do n't play that game of we do n't have your id on file you also have my utility bill you have my drivers license attached ... |
Franklin American Mortgage Company loan servicing, payments, escrow account March 8, 2016 - Franklin American Mortgage is neglecting my account causing me to pay more on my house payment every month for the past 7 months. Franklin American Mortgage made an error about 8 months ago. They pulled money from my escrow to pay my insurance. They sent the check to the wrong insurance company and the check was mailed back to my mortgage company ( this was stated by the first rep I spoke with after calling about my monthly payment increasing ). They never put the money back into my escrow. The Franklin American Mortgage Company then pulled out of my escrow 2 weeks later and paid the correct i... |
Franklin American Mortgage Company loan servicing, payments, escrow account December 15, 2015 - I paid my mortgage with Franklin American in full on -/-/2015. I have a $3400.00 escrow balance still with them. It has been 1.5 months and they are still holding my escrow money. When I contact them they say they will mail it but to this point I have received nothing. I am concerned they will keep my $3400.00. I am looking for help with getting my money returned to me. ... |
Franklin American Mortgage Company loan servicing, payments, escrow account November 28, 2015 - I had set up my mortgage on auto-pay as I knew work and the holidays would be crazy. However, it slipped my mind. So when the -/-/- bill came in, I paid it online. There was no notation on the bill, or warning on the home or payment page that our loan was on auto-pay. This seems very irresponsible of a company to not warn customers a payment has already been made and a warning of overpaying, especially when it is a significant amount - it is misleading and an incorrect representation of the account. Our auto loan and credit cards companies provide the notifications, so how are they not he... |
Franklin American Mortgage Company loan modification,collection,foreclosure November 25, 2015 - I hired a Real Estate Company that specialize in doing short sales to initiate a short sale request to my mortgage company, Franklin American Mortgage - was on -/-/2015.Franklin American has given misinformation and has been completely unwilling to assist in this matter since starting the process, even though they claim this is an option they make available to homeowners going through a Hardship. In the last year, I have lost my job and been separated from my wife. I am currently trying to find a new job but have been unsuccessful so far. The reason for my complaint is simple, i believe t... |
Franklin American Mortgage Company loan servicing, payments, escrow account November 23, 2015 - Purchased home in - 2013. Bought specifically for potential equity position in rapidly growing and valuable area. Put 5 % down knowing that in a few years my home would be worth enough to justify PMI removal. After requesting PMI removal in - this year, it was denied because I had - late payment while I was out of the country and my servicer did not have online capabilities and I could not phone. they would not waive this late. Due to this late, I was instructed to start the process again in - this year. The only method of contact for my servicer 's PMI department is email. They ha... |
Franklin American Mortgage Company loan servicing, payments, escrow account October 10, 2015 - I sold my home on - - 2015. I spoke with my Lender, Franklin American Mortgage co, multiple times before closing and was given different answers and the same thing happened after closing. Multiple issues include : the title companies check does not match what was deposited into my account that the mortgage co has listed and I was told I would receive a refund but never did. 2nd. the title company was given the closing payoff for -/-/2015 but should have only had the one from -/-/2015 and as the instructions state on the payoff statement I would just add - give or take if p... |
Franklin American Mortgage Company loan servicing, payments, escrow account October 8, 2015 - I was divorced - 2014. Because of my divorce, I suffered financial hardship. I applied for a loan modification. As part of the loan modification process, I submitted my divorce decree, copy of my quit claim deed, and supporting income to show I qualified for the loan. I was approved for an FHA HAMP Modification Loan with ONLY my signature. The divorce decree stated that I would need to have my ex-husband 's name removed from the loan. I was told by the lender that after the modification was finalized then I could fill out the appropriate paperwork to assume the loan. Now, I am being told by... |
Franklin American Mortgage Company loan modification,collection,foreclosure July 19, 2015 - I was decieved by Franklin American Mortgage company. They gave us terms that were really good on the actual principal and interest to draw us in to choose them, but were n't forthcoming and transparent about how they configured Escrow as required by the Dodd-Frank act of Tila ( 2014 ). They were quite aware of my financial situation, but ignored it. When I complained about them deceiving us, they ignored me again. Because of this, I will lose my credit and my home. What Franklin American claims is that Escrow is simply taxes ( $ - + insurance $640.00 ) and for me this is approximately $ ... |
Franklin American Mortgage Company loan servicing, payments, escrow account July 7, 2015 - My mortgage loan, serviced by Franklin American Mortgage Company was SOLD to another mortgage company WITHOUT ANY NOTIFICATION to me. They sent me my bill due on - -, 2015, and I sent in a check at the end of - as usual. On - - ( today ) I got a bill from another mortgage company, - - just a bill with no notification of mortgage sale. That bill is now late. I got absolutely nothing from Franklin, and nothing from -, until today, - -. I called Franklin to complain, they said - letters were sent out on - -, - and -. I DID NOT receive ANY of these letters... |
Franklin American Mortgage Company loan servicing, payments, escrow account June 18, 2015 - Franklin American Mortgage company advised that I needed additional flood coverage, which I purchased and my insurance Co. sent a fax stating I had the extra coverage. FAMC maintained they did n't get the fax so I had my insurance co, send a - fax. FAMC admits they received that fax and they posted it on -. I received my - house payment bill and it showed that I owed an additional $48.00 for insurance which FAMC said it purchased on my behalf. I called FAMC and complained about my bill and the lady looked up my account and advised me they had mad a mistake and not to pay the extra ... |