Washington Federal Mortgage Complaint

Conventional adjustable mortgage (ARM) Loan servicing, payments, escrow account

Washington Federal Mortgage department,

Conventional adjustable mortgage (ARM) Loan servicing, payments, escrow account Texas

I have an adjustable rate mortgage with Washington Federal. On the change date they did not calculate the new rate per the terms on the contract. I have reached out to them 3 times with no forward progress on the issue. They can not produce a copy of the loan docs. I have a copy of the loan docs. The rate should be capped at 4 %. They raised the rate to 4.875 %. There is a line on the loan docs that is titled ; LIMIT ON INTEREST RATE CHANGE ; and it states ; The interest rate I am required to pay on the change date will not be greater than 4 %.

Washington Federal customer in Texas
Aug 04, 2016

* Source: CFPB Complaint Database

Washington Federal response to complaint:
Closed with explanation

Consumer disputes how Washington Federal handled their complaint

Created with Highcharts 4.2.3Washington FederalComplaint HistoryComplaints9/201312/20136/20147/201410/201411/20143/20154/20157/20158/20153/20166/20168/20161/201700.250.50.7511.25Source: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3Washington FederalLoan servicing, payments, escrow account100.0%Closed with explanationSource: Consumer Financial Protection Bureau
Created with Highcharts 4.2.3National AverageLoan servicing, payments, escrow account2.3%80.3%4.0%5.8%1.1%5.1%1.2%0.2%ClosedClosed with explanationClosed with monetary reliefClosed with non-monetary reliefClosed with reliefClosed without reliefIn progressUntimely responseSource: Consumer Financial Protection Bureau

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