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Interest Rate ReductionRefince Loan!! (IRRRL)
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Loan Origination and processing was very smooth and uneventful. The ability to review all of the disclosure forms online and interact with them here at home was WONDERFUL!!! Then the FUN began, as it appears that the different departments within the mortgage division don't talk or share info with each other. I was told by my processing agent not to send in this months payment, as it would alter all of the loans financial information that was being processed. This lead to being called, text messaged and emailed by the collections department wanting this months payment. I called several times and advised that I was in the process of doing a refinance on this loan, with NationStar and that I had been told to not make this payment, as it would alter the new loans financial info. They stated that they had no info on this and that I still needed to make the now overdue payment. I called my loan processor and was informed that I should disregard the collections request, that there would be no negative info sent to the credit bureau, which would really mess up my credit score. It seems that the departments within this division do not talk or share information, even if it would tend to alleviate unnecessary stress for their clients. I find this really SAD! The phone calls, text messages and letters continued right on up through funding. Still waiting to see if delinquency info is sent to credit bureau. Then yesterday I received a demand letter from the NationStar insurance department indicating that my wind and hail policy had expired and that if I didn't provide new policy info immediately, that they would purchase it for me and that I would have to pay them for this cost. I called my loan agent about this new development and she did a conference call with me to this department, to try and resolve this issue, as my policy was just paid through my escrow account in February of this year for the next year (as this now being only May). Within 10 to 15 minutes this issue was resolved and was informed that I should disregard this new notice. I thanked both agents for their actions and time, but this is just another issue of departments not sharing info that can negatively affect a relationship with your business.
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