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
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