Complaints

This profile includes complaints for SWBC Mortgage Corporation's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  SWBC Mortgage Corporation

  2745 Dallas Pkwy Ste 310 Plano, TX 75093-8729

• 

  SWBC Mortgage Corporation

  9311 San Pedro Ave Ste 100 San Antonio, TX 78216-4459

The complaint text that is displayed might not represent all complaints filed with BBB. 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.

• Initial Complaint

  Date:06/04/2025

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  SWBC overcharged me by $256.52, they charged me $1,529.73 on May 1st when the payment amount should have been $1,273.21. They have not refunded me the excess money and it has been over a month and there has been no resolution or refund from ****. I have called them multiple times and each time they have given me a new date on when it would be fixed but, but every time I call back they claim they need more time. I would like to be given the money they overcharged me on.

  Business Response

  Date: 06/23/2025

  June 23, 2025
  
  Better Business Bureau
  ******- *******-*************
  ******************************************************************************************
  
  Re:      Case number: ********
  
  To Whom It May Concern:  
  
  We have received your correspondence dated June 4, 2025, pertaining to Case Number ********. We understand the borrowers concerns and take this matter seriously. We have conducted a thorough review of the circumstances cited in this case.
  
  Based on the information the borrower provided, we have reviewed their account and have resolved their concern. While we are unable to provide personal financial information, we have mailed a detailed response to the borrower which they will receive within 7-10 business days:
  
  We contacted the borrower to discuss the resolution ,however, we were unable to reach the borrower and left a message.
  
  We sent a direct response to the borrower advising the modification was finalized with a new payment effective May 1, 2025. However, a system error caused an overcharge, which was identified and flagged for correction. Payments were temporarily reversed and held due to the anticipated adjustment, but internal delays prevented the timely issuance of a refund.
  
  Despite safeguards to prevent credit issues, delays in communication and documentation impacted resolution. The account has since been updated, payments are being reapplied, and a refund will be issued along with tracking information once processed.
  
  Our review of the loan determined that a servicing error occurred related to recast modification. The borrower has a right to receive a copy of the documentation we relied upon to reach this conclusion. This documentation has been provided to the borrower for their convenience. 
  
  
  Should you have any questions regarding this matter, please contact me at ************.
  
  Sincerely,
  ******* *.
  Executive Resolution Specialist 

  Customer Answer

  Date: 06/23/2025

  I have reviewed the business response and accept this resolution. They have now credited the extra charge towards my principal which I am satisfied with.

• Initial Complaint

  Date:03/06/2025

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  My home was destroyed on January 8, 2025, by a falling tree. My mortgage company has assigned my claim processing to ****. The full payout from the insurance company of $260,991.13 was received by **** on 2/14/2025. They are responsible to payout 33% of the amount to me to begin work on repairs. They have sent only 28%, withholding $10,839. They said this is due to "missing money" from the insurance company. We have proven it is not missing money. We received direct payout from our insurance company for loss associated with other structures, not our home, and that money has been paid to our contractor for the rebuildimg of our pergola and walkway. Our contractor won't begin work on the main structure, our home, until we pay the 33% up front, and now has placed a lien on our home for the material purchases he's already made. **** has made it impossible to have our home rebuilt by witholding the necessary funds to get started. This is either gross incompetence or malfeasance. They've also made it nearly impossible to speak with anyone about this, as my "case handler" is never available when calling, has no voicemail setup, does not have an email and only returns calls while I'm working (3 returned calls in 3 weeks). Meanwhile, our family is homeless and they are finding ways to hold onto money that isn't theirs. This also seems to be a pattern of behavior based on other customer reviews.

  Business Response

  Date: 03/20/2025

  Dear *** or Madam:
  
  SWBC Mortgage Corporation, while having no direct connection to complainant or to the Complaint, requested from its affiliates relevant information concerning the subject matter of the Complaint.  Records provided in response indicate that the contested issues stated in the Complaint have been resolved.
  
  Sincerely,
  
  Legal Department

  Customer Answer

  Date: 03/29/2025

  I have reviewed the business response and accept this resolution. 

• Initial Complaint

  Date:02/14/2025

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  They do not respond. My wife called and sent a request through their message center. I would like an escrow analysis and a contact person to see if we can have the insurance payment removed. We have asked how to remove our insurance from our escrow. Their message center says they will respond with ********************************************************************** any message we have sent for that matter. We called in January to get my escrow analysis and we sent a message asking who to speak to re the removal of our insurance so we can pay it directly - that was on 2/8/25 - still no response. Also, April 2022 I received his 100% disability from the military. It took them until January 2023 to respond and remove the property taxes from our payments - meaning we had to keep paying for 8 months a bill we did not owe because they would not respond.

  Customer Answer

  Date: 02/28/2025

  Good afternoon,

  I did receive a response but I believe the response to be lacking in correct information. They denied my request to have the escrow removed on my account based on the *** not meeting the 80% or less rule. However, it is my understanding that the loan-to-value (***) ratio is a measure comparing the amount you are financing with the appraised value of the property. To my knowledge they have not conducted or paid to have my home appraised. The letter does not state that I have that option - which to me is misleading because I would not have an issue having it appraised as I know the *** is way under 80%. These practices are detrimental and just plain wrong and misleading. I have attached a copy of their denial letter.
  

  Business Response

  Date: 02/28/2025

  BBB
  ***************************
  ****************
  
  Re:      Case number: ********
  
  To Whom It May Concern:  
  
  We have received your correspondence dated February 14, 2025, pertaining to Case Number ********. We understand the borrowers concerns and take this matter seriously. We have conducted a thorough review of the circumstances cited in this case.
  
  We contacted the borrowers to discuss the resolution on February 26, 2025; however, we were unable to reach them.
  
  Our review of the loan determined that no servicing errors occurred related to the request for an escrow waiver. The borrower has a right to receive a copy of the documentation we relied upon to reach this conclusion. This documentation has been provided to the borrower for their convenience.
  

  According to our records, the borrowers were approved for a tax exemption in 2022, for the 2023 year, that would take effect with the 2024 bill, which would have been received in August 2023
  In December 2023, the tax lines were changed to reflect the tax exemption.

  
  We received a secure message from from the borrower on January 6, 2025, as well as on January 8, 2025, inquiring when they would receive an escrow analysis and what the escrow shortage was. Our records show these messages were replied to and advised that the loan was scheduled to have an escrow analysis performed in February 2025. We also provided the escrow shortage amount.

  
  We received a secure message from the borrower on February 8, 2025, as well as on February 14, 2025, inquiring as to how to waive their escrow account and a reply was sent on February 19, 2025, providing detailed instructions as to how to submit the escrow waiver request.

  
  We subsequently received the escrow waiver request, which was reviewed on February 25, 2025. Our records show that an escrow analysis was completed on February 25, 2025. Please allow 7 to 10 business days to receive this correspondence in the mail

  Business Response

  Date: 03/10/2025

  March 10, 2025
  
  
  Better Business Bureau 
  ******************************************************************************************
  
  Re:      Case number: ********
  
  To Whom It May Concern:  
  
  We have received your correspondence dated March 3, 2025, pertaining to Case Number ********. We understand this correspondence is a rebuttal of our previous response dated March 3, 2025. We previously provided the complainant with a letter that addressed their complaint.
  
  Based on the information provided by the borrower, we have responded to them separately. We informed the borrowers that the escrow account requirement cannot be removed with a new property valuation,as the investor/owner of the loan will not consider it. Escrow waivers for this loan program are based on the original appraised value, using the current valuation of the property would be allowed if the loan had Private Mortgage Insurance (PMI), which this loan does not,
  
  Should you have any questions regarding this matter, please contact me at ************.
  
  Sincerely,
  Mykkallinn *******
  Executive Resolution Specialist
  
  

• Initial Complaint

  Date:03/10/2024

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Absolute worst mortgage company to try and resolve anything with. I have tried for weeks to get an answer regarding a partial release of lien. I have been unable to list my property for sale due to the lack of communication. Apparently there is no phone number or department to talk to. I have both mailed and emailed the application and information more than once. Calling to check on this is nearly impossible as the people on their end have no real idea of what I am talking about. They constantly want to verify and offer nonsense help that does not pertain to my questions.I need an answer to my request for partial release of lien as soon as possible.

  Business Response

  Date: 03/12/2024

  Good morning, 
     I am confirming receipt of this complaint, it typically takes our servicing department 10 business days to respond.  This is the first time we have received this complaint, and the complaint shows it was filed 3/10/24. Why are we receiving a notice stating we have not responded? 

  Customer Answer

  Date: 03/15/2024

  I spoke with SWBC on 3/11/24 and was told my paperwork had not been received. I said that I probably needed to get my lawyer involved, suddenly my emailed information had been found and would be looked at on 3/12/24. I called back on 3/13/24 and was told it was still in the task cue. I called again today on 3/15/24 and was told that they had received a blank application from me. I have email confirmation that the information was received on 3/5/24. I also have conversation through their online message board that all pages were received. The representative today said he would email that department and let them know. He also informed me that this could now take another 30 to 90 days. It is imperative I get an answer quickly. This is a VA loan and we are in desperate need of selling our home.The only hold up is finding out if we can have a partial release in order to keep one acre of the property.  It would be terrible if a foreclosure were to happen and the use of the VA loan in the future is ripped from the person who earned it.

  I really do not understand why a yes or no answer can not be given. They say it is a case by case. Either the company does or does not allow a partial release of a lien. 

  Business Response

  Date: 04/01/2024

  Better Business Bureau
  *****************************************************************
  
  Re:      Case number: ********
  
  To Whom It May ********  
  
  We have received your correspondence dated March 10, 2024, pertaining to Case Number ********. We understand the borrowers concerns and take this matter seriously. We have conducted a thorough review of the circumstances cited in this case.
  
  We have provided the borrowers with the process and turnaround time of a partial release request. We understand that the borrowers are attempting to sell a portion of the mortgaged property, we are unable to ***** an approval until we have a clear understanding of the request.  We have advised the borrowers that this process can take between 30 to 90 days for completion.   
  
  Should you have any questions regarding this matter, please contact me at ************.
  
  Sincerely,
  ****************
  Executive Resolution Specialist, Sr.
  

• Initial Complaint

  Date:01/11/2024

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I literally get no answer each time I get connected to an agent on their chat; called and was sent to insurance IVR that says my loan # is not correct then went through 20 minutes of phone tree prompts to be disconnected. I need to deposit a refund from former homeowners company; my new company Travelers has sent them a bill but they have not paid it. I need to speak to a human who can HELP ME and so far that is impossible.

  Business Response

  Date: 01/23/2024

  Re:      Case number: ********
  
  To Whom It May ********  
  
  We have received your correspondence dated December 18, 2023, pertaining to Case Number ********. We understand the borrowers concerns and take this matter seriously. We have conducted a thorough review of the circumstances cited in this case.
  
  Based on the information the borrower provided, we have reviewed their account and have resolved their concern.  We have confirmed the insurance payment was made.  While we are unable to provide personal financial information, we would like to share the steps taken to resolve the borrower's issue. Here is a summary of our response and any new information: 
  
  On December 18, 2023, we spoke to the borrower via online chat and they made the insurance refund payment via a one-time mobile application payment. We received the new insurance information in November 2023 and overnighted the payment in December 2023. Per tracking information, the payment was delivered to the new carrier on December 22, 2023. Additional review of the loan shows that the borrower was originally covered under Liberty Mutual. This policy was effective from April 23, 2023 - April 23, ****. The renewal for this policy was disbursed from the escrow in April ***************************************************************************** review, the borrower switched insurance carriers mid-term and did not instruct our insurance team to pay the policy. Due to a full policy being paid with in a 12 month period, our process is to not update the loan with the information unless otherwise instructed by the borrower. Our insurance team was not notified that a premium was due until the December 18, 2023 contact with the borrower.  
  
  Our review of the loan determined that no servicing errors occurred related to insurance issues. The borrower has a right to receive a copy of the documentation we relied upon to reach this conclusion. This documentation has been provided to the borrower for their convenience. 
  
  Should you require additional assistance, or wish to dispute the outcome of our review, please contact us in writing at SWBC Mortgage, PO Box *****, *****, ********** 08628.
  
  
  Should you have any questions regarding this matter, please contact me at ************.
  
  Sincerely,
  ********************
  Executive Resolution Specialist