Complain about a product or service

Nationstar Mortgage

André of North Tustin CA (11/22/08)
Had anadjustable loan with them. Tried to refinance when the rate went up, they denied me, but took exactly 90 days so they could charge me prepayment penalty if I went somewhere else. Which I did, they tried to get me back then with a fixed loan and their actual closing costs were 300 % of my actual loan. Their message to me was I need to pay money whether I stay with them or leave them. They deceived me, tried to lock me in my adjustable and run me through foreclosure, they took advantage of their situation. Tried to talk to them, they offered to repay half of the penalty only, and last time I sent a letter they totally ignored me and sent me back an answer from a different company pretending they do not know me nor my file.

When I refinanced my house i wanted some extra cash to remodel the house. Did not plan of penalty, as a result half my house is remodeled, the other half is still pending with damages needing to be repaired, apparent mold, unhealthy situation affecting our health, and a lot of anxiety, a stressful family situation.

Anne of No. Carver MA (04/09/08)
Two weeks ago we try to pay off a home loan we had with Nationstar Mortgage who had evidently bought the original loan from Centrex.) After receiving a call that we were overdue, I spoke with several different service representatives all of whom told me that they had not received the check. I finally spoke with a supervisor (Chandra) who told me that they had sent the check back to us because anything over $5000 had to be a certified bank check and that we would not have included our Prepayment Penalty. I told her that we did not have a prepayment penalty. Knowing that we would pay off this loan early, we had specifically asked that question ( I had my notes used during the interview) and had been told no. She told me that there was such a penalty. I asked to speak to the Customer Service Dept. Manager.

Mr. Derek Taylor took my call. He once again told me that all their morgages had a prepayment penalty and that if I looked through my contract I'd find it. I once more explained that we had questioned the agent about this and he had assured us there would be no prepayment penalty. He said that he could not take my word for it and that he could go by nothing other than the contract. When asked if I could speak to his supervisor he informed me that he was the only one who could help me. Then, he said he would review my contract and get back to me within three business days which would be on Monday, April 8th. Needless to say, he has not returned my calls. Since then I have sent an email to the customer service representative but have yet to receive a reply.

My husband and I have since reviewed the contract and did find a prepenalty clause ... one that states that there MAY be a prepenalty fee and that we are to discuss that with our agent... which of course we did. In all probability, we might have signed that paper feeling we had done our part in our negotiations.

Another complaint that we had against the company was that we have never received our home appraisal documents. Again, I have to admit that after I sent a letter requesting it (within the thirty days as per our contract) and several phone calls, I did let the matter die... Thinking back on it now, I should have realized then that we were dealing with a company that was going to be a problem.

Please be very careful dealing with this company. They are obviously one of those mortgage companies that are practicing deceitful tactics and ploys in order to get your business.

Besides the fact that we are paying the prepenalty payment (only $155.99) we have not really suffered any real damages. It is more the principal of being treated in such a manner that is so irksome and also the chagrin of having been so stupid to believe that we were being careful consumers dealing with reputable agents.

Kristen of Pittsfield NH (06/24/07)
My husband and I refinanced with Nationstar in Feb 2004. At that time our credit was a little shaky and we were told in order to fix it, we could get an adjustable rate mortgage and with in 2 years refinance. Our mortgage loan originator, Joseph Conway, at the time advised us that at no given time could our rate go up more than 1% in years time.

This past year we have had several financial difficulties due to the economy. My husbands job fluctuated in pay for several months and we fell behind. We made several attempts to make a mortgage payment in a half to Nationstar to save our house, but we were informed 4 weeks ago that our first mortgage was going adjustable in July and our mortgage payment would go up more than $400.00 our rate from 7% to now 10.55%.

I called Nationstars' Fannie MA refinance division in hopes that they may be able to help with the ARM problem. The first person I spoke to about refinancing call me back several days after putting in paperwork and tole me that there was nothing they could do, that my husbands score was 7 points away from refinancing and they could not help. I got a call about a week later from a woman named Ebony who also said she was from Nationstar's refinance department. I told her that we had already spoken to someone and they had told me that they could not help us. She explained to me that she was from ANOTHER refinance department within Nationstar and she really thought she could help.

I told her that if they could not refinance us we would most definitely have to let the house go to foreclosure. She contacted me for several days to get information, and they one day I received a voice mail stating that she could not help, but that we needed to make the mortgage payments for another year before they could help us. At this point our house is heading into their legal office and will be going to foreclosure. I am amazed at how many lenders have done this sort of thing to people and I can see right now why foreclosures are at an all time high. The bank would rather sit on a house that they are not going to be able to sell rather than help the homeowner make things work.

We are losing our home.

Sheila of Shawsville VA (01/19/07)
We were looking to refinance a double wide (14,000 owed). Funds were going to college and remodel. We were preapproved, even with a 4 yr old bankruptcy. Underwriters approved loan, title search was done, we paid 350.00 for appraisal. We were then told as a formality loan application needed a V.P. signature and paperwork was Fed-Exed to Dallas and back. In the beginning our credit score was 616 and dropped to 608 searching for terms. We were called by Brian and told loan was denied for 30 days, to allow our score to come up 12 points. Yea right!! We were lied to and information was misrepresented. I have spoken to V.P. of Nationstar about resolution (refund of 350.00), we'll see what happens.

We have since declined offers thinking we had been approved, we are physically out 350.00. Due to our credit score being lowered by searching options we will now have to wait many months for our score to go up to qualify for another loan. This will now impair our ability to prepare for our son to attend college. This is not to mention the stress and mental anguish of being scammed in such a way.

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