Complaints

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:08/09/2024

  Type:Order Issues
  Status:

  UnpursuableMore 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 got benind on paying my property taxes. I took a loan out with one company who sold my account to **********************, LLC. I have been paying monthly to Sombrero. When I looked theSombrero up on the BBB, it said that the business is closed. Before I send them another check, I need to know if this company exist or not.

• Initial Complaint

  Date:04/22/2024

  Type:Billing 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.

  On or around the end of March I received a letter from Sombrero Capital that they have hire Quality Loan Servicing to service my loan. This is a complete joke. It is now April 22nd and I have yet to receive a statement from Quality Loan Servicing and their website does not work. This has been handled in an extreme unprofessional manner. The people at both locations are rude and refuse to give consumers what they need in order to pay their debt on time. I want a detailed monthly statement showing the total loan amount -payments made and what is left on the account to pay along with the payment date. The monthly statement must include where to send the payments and if a consumer would like to pay online where to go.

  Business Response

  Date: 04/22/2024

  This complaint is against the wrong company. 

  Sombrero Capital previously serviced this loan. It was transferred to Quality Loan Servicing in ****** ***** at the end of March 2024. The lender who owns this loan decided to switch to Quality Loan Servicing. We have nothing to do with that company. Here is their phone number ************ and their email: ********************************. 
  . 

• Initial Complaint

  Date:03/19/2024

  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 have tried to call this company numerous times after my loan got sold to them from a different loan company in December 2023. I have had nothing but bad business client service each time I call I get nothing resolved they end up hanging up the phone on me without resolving send me a text claiming that I hung up the call. I really need to get something done with this company. I feel like they are loansharks and I need some help.

  Business Response

  Date: 03/19/2024

  We don't own your loan. We service your loan for the private equity firm out of ****** that owns it. 

  Email me and I will assist you: ***********************************

  Customer Answer

  Date: 03/20/2024

  Complaint: 21454402
  
  I am rejecting this response because:
  
  Regards,
  
  ***********************

• Initial Complaint

  Date:03/13/2024

  Type:Service or Repair 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.

  Getting information from Sombrero is very difficult. They are currently apparently attempting to take our property, weve paid thousands of dollars to bring the account current but they have reallocated most of our payments to fees instead of applying to our balance to ensure we arent paying on the principal. Whatever you do reconsider using this company work directly with the taxing agencies there interest rates and terms are predatory - no one answers the phone and when you speak to someone they cant provide insight or answers

  Business Response

  Date: 03/14/2024

  Thank you for trusting the BBB with your concerns about Sombrero Capital. 

  Sombrero Capital is not your lender. We are the servicing company for your lender, the Sombrero ****************** LLC. There is no shared ownership between us and your lender, even though they share the name Sombrero. 

  This account had fallen behind, well over 90 days, and incurred legal fees due to the foreclosure process starting. Unfortunately, legal fees had been incurred and the payments remitted went towards those charges first. That is a standard application of payments and it is detailed in the loan documents signed by this customer. The account is presently over 100 days past due. 

  I'll have a manager reach out to you. 

• Initial Complaint

  Date:01/05/2024

  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.

  Sombrero is a lienholder on my home. I had hail damage in June 2023. I received an insurance check for $21K to repair the damage. Sombrero is a co-payee on the check. I sent them the check and ************************* signed for the certified mail green card on December 5, 2023. Under the ***** Insurance Code *******, they had 10 days to tell me what I needed to do to release the funds. They never did. First contact was 22 days later when I called them to demand release of the money. They first denied getting the check, then said they mailed it to the investor, then said a supervisor was going to sign the check and mail it back to me, and then said the investor was going to deposit the money and pay the contractor directly. Problem is that Sombrero does not know who my contractor is and has never asked. When I asked ************************* how I can contact the investor to resolve this he said that I could not; I just have to wait for the investor to get around to calling me. I want ******* fixed.

  Business Response

  Date: 01/05/2024

  Thank you for trusting BBB with your issues with our company. However, this complaint is against the wrong company. We are the loan servicing company for your loan with the Sombrero ******** I, LLC ("lender"). We have no authority to do anything on the Lender's loans except service them. Your lender has instructed us to forward the claim check to them and they would reach out to you. We understand you spoke with the Fund Manager this morning and have come to an agreement. 

  Customer Answer

  Date: 01/09/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Regards,
  
  ***************************

• Initial Complaint

  Date:11/13/2023

  Type:Billing 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.

  So this company took over my loan from ***** Tax Property Loans in Dec. of 2022. I wasn't even aware of the loan taker until I went to pay my loan. I made a payment of ***** on September 13 of 441.01 then another on ******. and ****** and Now they are telling me that my loan is in default a they updated my interest rateto *****%. This is predatory practices. My rate has been ***** since 2017 when it was serviced by another company. Now since I have been complaining they have update my rate then one I asked they said they would have to get back with me on that and I haven't heard from them since.

  Business Response

  Date: 11/13/2023

  ****************, thank you for trusting BBB with your issues. Again, as I communicated to you over the weekend and this morning, Sombrero Capital does not own your loan. We ************** it. Our client, the Sombrero ***************** I, LLC ("the Fund") owns your loan. At the Fund's instruction, default interest was triggered. We have reached out to them for an official response. They are consulting with their legal counsel and have promised to respond shortly. 

  We are sorry for the inconvenience, but we will reach out to you directly to resolve this issue. 

• Initial Complaint

  Date:03/15/2023

  Type:Billing 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 had a tax loan with another company and in December of 2022 they sold the loan to sombrero capital. On my statement from December to February everything was good until march statement suddenly a 500 dollar in charges was added and they said that it came from the other company and they told me to call them because those charges came from them so I did and they couldnt find anything about those charges I called sombrero and they told me that they will look where those charges came from and they will call me back as soon as possible but they never did and even the manager told me the same thing and I havent received any call from them so I assume that they remove the charge but whenever i pay a payment those are still there and also they be changing their policy for example on the email it written that I need to make the payment before the 16 to avoid the late fee but on the website its says to avoid the late fee pay it before the 11

  Business Response

  Date: 03/15/2023

  We appreciate the BBB assisting this customer to get his questions and concerns resolved. We take these very seriously. Please allow me to address. 

   

  Sombrero Capital, LLC is the loan servicing company for this loan. In December 2022, our client acquired loans from FYP, LLC (dba Texas Property Tax Loans). The loan servicing transfer data provided wasn't perfect. The data was missing certain ancillary information that required our company to pull each file and update as soon as possible. As a safety measure, we imported the data with conservative estimates and wen't through each file to properly reflect terms signed by the borrower(s). 

   

  This customer mentions two concerns:

  1. Grace ****** changing; and,

  2. $500 charges that he isn't aware of ever incurring

   

  I've attached:

  1. Loan Documents - please see page 1, item 2 where there is a 10 day grace ****** from the 1st for this borrower to remit their payments timely in order to avoid a late fee. We initially imported the data with a 15 day grace ******, but recently updated our software to accurately reflect the terms signed. 

  2. 2 invoices from FYP's attorneys supporting the $500 in charges. 

  3. Pay History

  The grace ****** changing to accurately reflect terms signed should be no issue. We are going to waive any late fees incurred Jan, Feb, or March 2023 to appease this customer. 

  Again, as the loan servicing company, we don't profit or lose from the $500 of legal fees inherited from FYP, LLC. We are in touch with their representatives to ensure the validity of these charges. We understand the supporting invoices were incurred due to a prior delinquency, but we will ask them to review the account and see if they wish to reimburse these charges. We will update the customer directly as that concludes.  
  

• Initial Complaint

  Date:10/19/2022

  Type:Product 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 entered into a contract with this ********* financial institution TLT FINANCIAL SERVICES LP starting on July 17, 2017 but it's part of a claim today 2022. The contract was a loan for $13,594.00 approximately. I submitted a deposit with this institution and instructed the company to setoff the loan. The Company refused to setoff the loan and has not acknowledged the deposit. When I requested a refund of the deposit or access to deposit, still no response. The statutory requirement for this transaction and my claim is stated in the ***** Business and Commerce Code/secured transactions Sec. 9.102.(66)"Promissory note

  Customer Answer

  Date: 10/20/2022

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Regards,
  
  ***************************

  Business Response

  Date: 10/31/2022

  It appears the complaint is resolved. 

  Business Response

  Date: 01/23/2023

  **************, 

  This is an outlandish complaint and is without any legal merit. A few quick points for you to consider:
  

  1. Your tax lien loan was sold Feb 2018 to ********************* LLC - you can contact their servicer *********************************************** in ****** *****. 

  2. The laws and rules that govern this industry can be found is: ***** Tax Code *****, ***** Finance Code Chp 351, and the ***** Administrative Code Title 7, CHP 89.

  3. Your original tax lien loan was for $13,593.59 and you never made a payment to us while we owned your loan from July 2017 through Feb 2018. If you recall, you took out a property tax loan in July 2017 to pay over $11k in property taxes to Tarrant County, plus Tarrant County Court Costs of nearly $1200. Your property was going to be foreclosed on by the Tarrant ***************** and we saved your property from being foreclosed. We helped you, paid the property taxes and you signed a loan and promissory note to make payments in the amount $234.13 per month starting October 2017 (copies of the signed documents attached). 

  4. Attached is the letter you are referring to that was sent to me and received around August 2018 (months after your loan was sold). In your letter, you claim you are due $27,187...which is a preposterous claim.

  5. Attached you will also find the loan documents you signed in July 2017. I looked up the "code" you referenced in the letter, you feel as though we deceived you for our gain and you believe we are guilty of embezzlement or theft. I question your state of mind because that is an extremely outlandish claim.  Mortgages, tax liens, and notes sell all the time. See page 16 of the Signed Documents. Just above your signature, we disclosed (even though we don't have to) that we reserve the right to sell your note. 

  You are filing complaint(s) against the wrong company, and further you are making claims without legal merit. I highly suggest you hire a ***** State Bar accredited attorney to advise you because your claims are without merit. 
  

  I wish you the best, 

  *******************