ComplaintsforSierra Pacific Mortgage

• Initial Complaint

  08/16/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Since July 5th 2022 I have been following their process to remove the *** from my mortgage by paying them to obtain a ***. A *** will show my LTV is between 50% and 60% according to Open Door and Zillow. Their required LTV to remove *** is 75% or less. I called and requested the *** per their instruction. They charged me the wrong amount for the *** over the phone. They sent me a refund check with no explanation. I called them last week on August 10th so then they escalated the issue. No one called me back. I called them again today August 15th and was given no alternative but to wait for the call from the escalation from upper management. Meanwhile they continue to collect $307 per month in *** that should be removed.They want me to give up trying. I will not.Please assist with moving this forward so I no longer need to throw away $307 a month. Thank you.

  Business response

  08/16/2022

  Hello, Sierra Pacific Mortgage ****** has received the attached complaint and is actively researching the issue with our sub-servicer ********** we will provide a formal response as soon as we have the data.

  Business response

  08/25/2022

  Please see the attached response letter to this complaint and let us know if any questions,

• Initial Complaint

  07/05/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Sierra Pacific eSierra Pacific erroneously reported a late mortgage payment on my credit report for December 2021. I contacted them and they admitted the error however despite me following up with them multiple times they still have not corrected this error.

  Business response

  07/05/2022

  Sierra Pacific mortgage gas received the attached complaint and is contacting our sub-servicer for the details, will provide a forma response within the BBB's 10 days requirement.

  Business response

  07/15/2022

  PLEASE SEE ATTACHED BUSINESS RESPONSE:

• Initial Complaint

  07/05/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Contacted *********************** on June 16th and applied for a mortgage loan (FHA). Was required to submit all documents (employment, W2, insinuating circumstances letter of explanation, assets, etc.) to ensure there would be no problems with underwriting if a pre- approval would be provided. Got the pre- approval the same day and was told that everything looked great. ***** also provided reassurance to both my real estate agents (selling and buying) that there would be no issues after they asked him several times due to selling and buying at the same time. Immediately, my current home sold within 3 days and I along with my family completed the moving out process with the understanding that nothing would go wrong and we'd remain on schedule to close July 22nd.June 25th, ***** sends a text inquiring about child support payments which were clearly being deducted from my paychecks which we discussed and he reviewed and now there are issues with my DTI and the application overall. He admitted to missing that when reviewing my documentation. He dropped the ball!July 2nd, I receive an update that underwriting approved my loan and is currently preparing documents for closing (attached). This prompted me to upload proof of homeowner's insurance. Moments later, ***** calls to advise that they're unable to move forward with my application and there were no exceptions to be made point blank period. Now my home is sold and I've moved out with my kids and I might lose the home of my dreams if I don't find alternative financing within 3 business days. I failed to mention that after ***** dropped the ball, he completely ghosted me until the day he delivered the bad news. Sierra pacific is the builder's preferred lender and I'm very disappointed and stressed that I could lose my current home and the home of my dreams due to a lack of work ethics and knowledge. Also, ***** texted that he was verifying documents and information with underwriting prior to providing the pre- app

  Business response

  07/05/2022

  Sierra Pacific Mortgage ******** has received the attached complaint and will do our investigating on the issue and respond as soon as we have the information. 

  Customer response

  07/06/2022

  I am rejecting this response because no one has contacted me regarding this matter, therefore, I don't believe their intent is to resolve the issues at hand.
  

  Business response

  07/06/2022

  Under the BBB rules we are allowed 10 days to prepare and respond to the complaint, we will be notifying you.

  Customer response

  07/08/2022

  I am rejecting this response because the truth isn't being disclosed.
  
  *********************** requested all documents prior to providing pre-approval since he was advised verbally of the chapter 7 and debts upfront before pulling credit and proceeding (call recorded by *****).
  
  The child support payments were clearly displayed as a deduction on my paystubs and should've been missed. Attached are text messages where ***** admitted to dropping the ball. My suggestion is this, If you can't attend your kids sports events and work collectively, then don't it.
  
  The monthly child support payments are $558 and not $613.
  
  Regarding the extenuating circumstances, ***** verbally stated that he'd contact his underwriter to ensure that the documentation provided would suffice and he said they approved and from there, immediately provided the pre-approval (call recorded by *****).
  
  *************** never got upset and actually continued to try and find a resolution before being ghosted by *****.
  
  During ***** verbal delivery of the decline, my wife barely said two (2) words and not once did she get upset as stated in your rebut. ***** spoke directly to me (call recorded by *****).
  
  ***** reasons for denial included a student loan payment being missed last year which was inaccurate.The missed payment was from 2018. And the *** which he failed to provide after several requests of inquiring. He specifically stated that because of the late payment that there was nothing that could be done but if it was just the *** we could've worked something out (call recorded by *****).
  
  As of yesterday, my auto loan was refinanced reducing my payments to $725.
  
  Again, I know that you want to believe that your employees are doing no wrong and that the consumer is just upset, but I've got all the facts and proof.
  
  This transaction has caused me to lose my current home because of poor workmanship. Therefore, I'm requesting you take a look at the attachments provided to this response and take time out to listen to the recordings of the 3 phone conversations had with ***** that I can't attach.
  
  I'm an honest consumer and want a fair opportunity to be reconsidered.
  
  Thank you,
  
  *********************
  

  Business response

  07/13/2022

  As described in the letter provided by our chief compliance officer, unfortunately we are unable to approve the loan application due to the *** guidelines.

• Initial Complaint

  06/10/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  When Sierra Pacific purchased my loan in November of 2022, they did not pay my property taxes via escrow until March of 2023, nearly 5 months late. They sent me a letter in February that $4098 was being sent to me via check for a surplus in my escrow account. I have not received that check. And now, after paying over $1000 a month for the past 4 months into my escrow account, my balance only shows $223 dollars. There is something way wrong with this picture. I have called them rectify it, but I am getting the same run around as I did when asking them to pay my property taxes. I feel that their outsourced people on the phone are incapable of handling this issue, and every time I call them I have to update them and tell me story over and over again. I wish interest rates were lower so I could just refinance and change my mortgage company because so far, my relationship with Sierra Pacific has been awful. I am sending this information to my broker and will share it with anyone who asks me about financing in the future.

  Business response

  06/13/2022

  Hello,

   

  Sierra Pacific Mortgage ******* has received this complaint and is gathering the facts and will respond to the complaint as soon as possible. We must obtain information from the sub-servicer of the loan and apologize for the inconvenience.

• Initial Complaint

  06/06/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  ********************* Mortgage Loan Originator was aware that we had an accepted Contract to purchase a primary residence located at *************************************************, requiring a mortgage. We had already received the pre approval letter. The closing date is June 10, 2022. On June 3rd ********************* located at the ************************************************************** office and ***************************** the retail processor for the same location have requested the same information multiple times. They continue ask for the same documents which can only mean they have been hacked, lost all of our personal information. This is a major security leak. They have lost all of the multiple pages of documentation needed for a loan closing. Everything a person would need for identity theft. Credit Reports, copies of birth certificates, naturalization documents, credit card, loan line of credit and banking information, social security numbers, tax, W-2s, 1099s etc. The will fail to complete the loan closing on time which results in multiple costs as we are relocating from out of state. We will need new living arrangements. The property is not likely it will close on time. It's entirely likely that we will lose our ******* money. The cost of inspection reports, appraisals, flights to and from ************, **. I have attached some of the emails with show requests for the same information and a sample of the documents I've sent. Requests for the same documents were sent on May 6, May 13th. There is not a specific category for desired resolution, but it would include additionally the cost to refund all of our expenses from their failure to complete the process. As well we would require Identity Theft protection for minimum of 10 years.

  Business response

  06/06/2022

  Hello,

  Thank you for the notification regarding this issue, we will start our investigation and provide a response as soon as possible.

  Customer response

  06/08/2022

  I am rejecting this response because:

  I contacted the company regarding my issues.  They did not protect my information by using protected encrypted contact.  It was just over regular email.  Secondly an error on their part resulted in them pulling my credit repeatedly causing a drip in my credit score.  I have a mortgage loan closing and because of issues on their end the mortgage won't close.  I can be sued by the seller.  They haven't declined which causes a major issue on my credit report and furthermore I can't  apply to another mortgage company to close on the purchase while this application remains open. I repeatedly asked them to just tell what it was they were looking for.  Instead they just kept pulling the credit report on all three bureaus.  On June 10th I will be homeless because I have no house to move into  and I've sold my house.  I will have to find expensive short term accommodations.  If the issues were to be that I didn't quality for that amount of a loan then they never should have preapproved for that amount after  I repeatedly provided information asking for any answers they needed that would prevent the account from going through. I would never have made that offer, paid for two inspections, plus an appraisal and paid an ******* deposit that cost me $5008 for the official check and airplane tickets to fly in to give them the funds directly in their hand since I was told there was no other way to make that payment.

  
  

  Business response

  06/13/2022

  Hello,

  Please see attached response letter from our Chief Compliance officer.

• Initial Complaint

  05/04/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I secured a loan with this company in November of 2021. They provided me with contacts to an outside company that secured me a homeowners insurance policy. They then gave me a payment rate of $955 per month. I had regular contact with my loan care officer throughout the entire process. Starting in January, SPM started sending me letters stating I did not have homeowners insurance and if I did not secure my own, they would add theirs on. I spoke with my loan care officer who assured me that this was a glitch in their system and that he would take care of it. Months later, in March, I receive a letter stating that they had added their insurance onto my account and would be charging me for this. As a result, my payment would go up almost $300 a month. I spoke with my loan care officer again, who told me he was no longer with the company. I no longer have a contact with the company besides their corporate number. I checked with my initial insurance company who assured me that I still had coverage and that had never changed. I spoke with SPM/LoanCare and provided proof of my insurance multiple times and they assured me they would fix the issue. Its now 5 months later and nothing has been done to fix it. As a result, I will have to pay a higher mortgage rate next month or incur penalties. This is absolutely ridiculous as I have provided proof of homeowners insurance multiple times to them via their online portal and the insurance company itself.

  Business response

  05/04/2022

  Hello , 

   

  Sierra Pacific Mortgage Company has received the attached complaint, we are working with our servicing department to find the root cause and will respond back as soon as possible.

• Initial Complaint

  04/14/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  After we purchased our new home through Sierra Pacific Mortgage in January 2022, we sold our previous home in February and began the recast loan process. Initially we were informed by SP staff that we would NOT have to pay our mortgage loan for the months of March of April because of the significant amount of our recast deposit amount ($100,000) and that our new payment would not be due until May 1, 2022. Then we were told we needed to pay the original March payment of appx. $2000, and then the third time we were told completely contrary info. that we now owed them the March and April payment, for unspecified reasons. Upon our multiple attempts for making complaints, we were basically told, "we're sorry this happened," with no further info. or explanation. We find this completely unacceptable which resulted in undue stress and financial burden to our family due to their inconsistent information given and due to our initial budget being formulated based on their initial, incorrect and inconsistent information. We are now considering legal action and would like further advisement; thank you.

  Business response

  04/14/2022

  Sierra Pacific mortgage ****** has received the client's complaints and also has received a direct email from client. We are actively investigating the issue and will respond back with a formal response as soon as servicing provides their information and resolution.

   

  Thank you

  Customer response

  04/22/2022

  I am rejecting this response because:

   

   the issues has not been resolved 
  

  Business response

  04/22/2022

  Hello, we understand and apologize for the delay, our servicing department is almost done with their research and a letter to client is being drafted to send. Sierra Pacific utilizes sub-servicers and that is the reason it is taking a little time to complete this.

  Customer response

  04/22/2022

  I am rejecting this response because: I am rejecting this response because: it has been months that we have been patiently dealing with their inconsistencies, unprofessionalism, inaccurate info., and unacceptable response time, and now they expect us to wait even longer for a written response; typical of this company. 
  

  Business response

  04/22/2022

  Please see attached response letter, we believe the company has resolved the issue as detailed in the attached letter..

  Customer response

  04/25/2022

  I am rejecting this response because: they are continuing to not take responsibility for their consistently false information previously provided to us; we know what was said no matter what they claim otherwise.  We were told inconsistent and inaccurate directives on numerous occasions, IE: we would not have to pay March and April's mortgage, then only pay for March's mortgage and then finally that we owed both.  This company is shady. unprofessional and irresponsible and there are many other similar, negative incidents reported on Yelp and the BBB site that prove this.  It it unacceptable for this company to continue practicing this pattern of irresponsible behavior, especially when dealing with our finances and livelihood.  And his is why we are pursuing legal action and are seeking reimbursement for unneeded financial and emotional stress caused by their poorly ran organization. 
  

• Initial Complaint

  02/23/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  My home mortgage is through Sierra Pacific Mortage. In January 2022, I payed my mortgage via the automated system. Apparently, the payment did not go thru. I was not aware of this. I was never notified by Sierra Pacific Mortgage that they did not receive the payment. I made my February payment via the automated service. It stated my usual monthly payment of $1911.73. After making my payment, I got a call from Sierra Pacific Mortgage on 2/17/22 on a line that clearly identified the company as the caller. The caller stated they were calling to see if I wanted to refinance my home (*************************). He *** me that he would see what the could offer, put together a package and email me my options. That evening, he emailed me stating that they could not refinance my home because my credit score was "too low" Surprised by that, I went to Experian and pulled my report. How horrified I was to see that Sierra Pacific Mortgage had reported me to the credit bureau as being more than 30 days passed due. I called no Monday 2/20/22, to speak with a supervisor. The woman who answered, wouldn't give her name, insisted they had notified me. I reiterated to her that at no time had I received any calls, messages, emails, texts or letters from them. She then asks me if I had received my tax statement or letters regarding refinancing. I told her that only got monthly statements. She said "I'll email it, but nothing we can do" I asked, why no emails were sent. No response. I asked for the number that they called from to notify me of the missed payment, to which she replied "WE USE SPAM NUMBERS".I asked her what I owed, (Expecting my usual monthly *** of $1911.73, plus the late fees). She went on to tell me that my mortgage payment had increased to approx. $2300. I wasn't notified of this either.( fixed mortgage). Her reply, Neg. Escrow/Incr. tax/HOI. They had wrong info on file for HOI /Warranty. Records not updated.My credit ruined. As a result, other creditors closed my accounts.

  Business response

  02/23/2022

  Sierra Pacific Mortgage ** has received the borrower complaint and is investigating the issue with the servicing department, will provide a response as soon as we have confirmation from the servicing department.

• Initial Complaint

  12/13/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I purchased a home in January of 2021 using Sierra Pacific Mortgage company. I had a horrendous experience with the mortgage lender whom I used, *******************. I could go into detail on many levels about his unprofessionalism, rude and immature text messages from him, etc. He caused NUMEROUS issues throughout the closing process like forgetting to do things he had agreed to do, promising to change certain costs and then going back on his word, etc. He made several promises that he did not keep and never had a real explanation for it, instead saying things like "I never said that" or "you misunderstood me" all while I had already had messages and emails from him to prove otherwise. If enough characters were allowed in this box I would provide many more examples. The biggest issue, though, was that he provided the title company with the wrong home insurance company to send my annual premium to. This was a company I had NEVER heard of, spoken to, or inquired with, and there are numerous emails and texts of me providing the correct insurance company who I had committed to. The check was sent to the wrong company, and I resolved the issue myself when I realized this in February. Although my insurance agent provided proof to the company, they charged me for home insurance out of my escrow account claiming I did not have it even though my online account showed the correct policy. Since then, my **** has been higher than it should be due to this, and my credit score affected. I have sat on the phone with them for 3-4 hours every week since June, explaining the entire situation again from the start, and have received differen advice and answers from several associates. I have now recieved a foreclosure notice even though I have paid everything I ACTUALLY owe. After countless hours spent going back and forth, they adjusted my credit score back to what it originally was, admitting that ALL of this was THEIR mistake- BUT they still sent this letter, and my **** is STILL WRONG!

  Business response

  12/13/2021

  Hello,

   

  Sierra Pacific Mortgage Company has received the attached complaint, we have asked the loan servicer to investigate the issue and respond back as soon as possible. 

• Initial Complaint

  11/30/2021

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I was contacted by my County that my *********************************************** collections. I contacted Sierra Pacific in September to rectify this situation as they were responsible to pay them out of my escrow. I was told it could take up to 2 weeks for the investigation. After the 2 weeks was up I contacted them again and at this point I was told they concluded they were at fault. They told me they were going to overnight the check and there was nothing I had to do. That proved to be completely faulty information. I contacted my county and collection agency to see if it was rectified which to my surprise it wasn't. I contacted them again and had to explain everything over again, once again told they were handling this ASAP. Well they didn't... I contacted them numerous times since, asked to speak directly to supervisors which once again required the entire story and they would "look into it". I spoke to supervisor ****** and when I called back again and asked to speak to her I was told there was no way to talk to her but they would put me through to a supervisor.... This has happened close to a dozen time. Yesterday I was told once again they were going to overnight the check. Only to call today and be told they DO NOT overnight checks ever and best case would be handled by Dec 6th. I have been lied to over and over and over again. This is impacting my credit, impacting me refinancing, and will impact my county accepting 2021 taxes that are due Dec 1 which will put me right back in this circle of frustration with this untrustworthy, unreliable and fraudulent mortgage company. I have a closing to refinance this property set for Dec 5th which cannot happen until they do what they are supposed to have done months ago.... Attached is a letter from them dated Oct 19th saying they would handle this

  Business response

  11/30/2021

  Sierra Pacific Mortgage ******* has received this complaint notification and has asked the servicing department to review and respond ASAP.

  Customer response

  12/01/2021

  I am rejecting this response because: I have been told this NUMEROUS times already that it will be handled ASAP, I will be contacted ASAP. It is currently 1PM and obviously this ASAP is going to end up with the same outcome as the previous dozen times. 
  

  Business response

  12/01/2021

  We apologize for the delay, we will respond within the required due date. 

  Customer response

  12/01/2021

  I am rejecting this response because:
  They went from someone will contact you ASAP to we will within the required time, Same excuses I have gotten repeatedly for months from them... I asked for a manager or above to contact me, not the service **** that has provided me zero help or honest answers the multiple times I have already spoken to them and they couldn't even complete that.

  Business response

  01/06/2022

  Hello,

   

  This client also filed with CFPB and we resolved the issue and reported to CFPB as well. This is resolved, see attached

   

  We are not able to upload to your files anymore

  ******************* Deputy Chief Compliance Officer **************Phone ************************ **************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************************

  
  

  Customer response

  01/07/2022

  I am rejecting this response because: First of all I paid the $648 in penalties occurred by you guys in order for me to close and get away from disaster of a company you guys have proven yourself time and time again. When I am refunded you money with actual dollars and not promises or some ***** delivery receipt which I had asked for repeatedly and told you guys can't do that I will accept this answer but not until then. As far as you guys not finding any fraudulent pieces I am not surprised so I would ask you, What would you call being lied to repeatedly about checks being disbursed, overnighted over 90 days to " repair " an issue you created (which by today January 7th 2022 has not been) would you call that proper business, normal business, legitimate business, morally correct business? I'll wait.... Your documents provided show a complete timeline of failure on your part to handle the situation. The phone logs will provide a complete timeliness of the flash information and lies brought by you guys, will also show the initial talk in September how we had to explain how the funds and payment were your responsibility to pay which required a 2 week investigation. That brings us to Oct and here we are.... So to say you find no merit of fraud, actually look at what's right in front of you.
  

  Business response

  01/19/2022

  January 14, 2022 ********************************* *********************************** Re: Loan number XXXXXX3692 Dear *********************************: We received correspondence regarding concerns you submitted to the Better Business Bureau. We are committed to providing exceptional service and seek to resolve your concerns accordingly. The purpose of this letter is to provide you with a response to the issues raised in your correspondence. We are glad we were able to answer the various questions posed in your previous letter. In your more recent correspondence, you have not raised any new issues, but seem to inquire again regarding the same matters. You have indicated that you were lied to repeatedly regarding the disbursements of the tax payments. Please note that LoanCare takes such allegations very seriously and does not engage in unethical practices. The information that was previously provided regarding the delay of tax payments being sent out was accurate information. We regret if anyone you spoke with in **************** was unaware that the ***** tracking information is not isolated for internal use and can be provided once available. LoanCare is committed to delivering the highest quality of service and appreciate the feedback that *** be further reviewed. Please be advised, the $30.00 administrative fee refund was disbursed on January 12, 2022 and mailed to your address on record. We have enclosed a copy of your Account History. You indicated that you paid $648.32 penalties. Please contact Louisa ***************** to request a refund for the duplicate payment that you made as we previously confirmed that the check sent by our ************** via ***** tracking number ************ was delivered on December 21, 2021, and LoanCare has not received that payment back; therefore, Louisa County would have to issue a refund to you. If you have further questions or concerns regarding this matter or would like to request additional documentation used in our research, please contact me in the Office of the Customer at *****************************, Monday through Friday from 8:00 a.m. to 5:00 p.m. Eastern Standard Time,. Sincerely, ****************** Office of the Customer Enclosure

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩