Seterus Mortgage Complaint

Conventional fixed mortgage Settlement process and costs

Seterus Mortgage department,

Conventional fixed mortgage Settlement process and costs Minnesota

I am in the process of a refinance. All of my paperwork is submitted, and I have been approved. The new loan company, - Mortgage, is all set. The title company, - -, is all set. I was supposed to close today, - -. But the current loan holder, Seterus, has not issued the necessary payoff quote. - - made a request on - -, but it was denied because they did not use the internal Seterus form. They were never told that they had to use this form, even when on the phone with them. I was not notified of the denial. I have a secure email inbox on my Seterus account, and they did n't put a notice in there, only a notice that a fax request was received. So I submitted a payoff quote request online on - -. Upon submission, a note comes up that says give them up to - business days. But when I call, they tell me it *might* take - business days but maybe longer. All requests for expedited service are denied. Their communication has ranged from nonexistent to wildly unhelpful. I can only reach customer service reps by phone, and they will not escalate my request, saying instead that everybody has a story. '' I am told by many people in real estate that the practices outlined above by Seterus are highly unusual. I feel like my loan is being held hostage by a predatory lender.

Seterus customer in Minnesota
Jun 19, 2015

* Source: CFPB Complaint Database

Seterus response to complaint:
Closed with explanation

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