ComplaintsforValon Mortgage Inc

• Initial Complaint

  05/31/2024

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  I received notice of delinquent taxes by **** on May 18, 2024. I could not understand when the mortgage has an escrow. I called Valon on Monday, May 20, 2024 at 8:23 am and was told the issue should be resolved in 1-3 business days but probably sooner. I called back on Thursday, May 23, 2024 at 9:42 am. During this call, I was asked for a copy of the notice but was advised that was not needed since the representative could pull up the information online. He said I had an open ticket and should be resolved within the next 1-5 business days. I called Friday, May 31, 2024 because another 20% penalty would be added the next day. The representative told me they had reached out to the tax office and I had an open ticket. I "reached out" to the tax office and was advised half the taxes were paid and $2,780.78 because of penalties was now owed. I went to the tax office and paid to avoid further penalties. I am now requesting a credit to my account of $2,780.78 and really, I should receive another $319.90 because had Valon done their job, I would not be paying penalties and interest and missing time from work to do their job. So really more is owed, but that is all I am asking for because I cannot get time back.

  

  Business response

  06/27/2024

  Dear *********************************, 

  We appreciate your patience during our review of your concerns, and we would like to provide you with a detailed explanation of our findings. 

  Please see our findings below: 

  When the servicing of your loan was transferred to Valon Mortgage in October 2023, the tax parcel information was set up in our servicing system, which included only parcel ***** but not *****-1. When the tax bill became due in November 2023, we sent a payment from your escrow account of $2,907.48 to Rockwall Central Appraisal District (CAD) for parcel *****. The Valon Mortgage tax team did not receive a delinquent tax bill and was under the impression that the taxes were paid for your property. 

  Thank you for bringing to our attention that the additional parcel, *****-1, associated with your property had not been paid. We apologize for the delay in responding to your initial request. 

  On May 29, 2024, you called us after speaking with the county, and they advised that there were two parcels associated with your property, which included one for yourself and one for **** and ***************************. On June 13, 2024, Rockwall CAD confirmed for Valon Mortgage that there are 

  two parcels: ***** and *****-1. The tax department has added the additional parcel to your account to rectify this for future tax payments. Valon Mortgage will now run an escrow analysis to update the escrow account. Due to parcel ***** being listed as confidential with Rockwall CAD, the county was unable to provide any information regarding that parcel. If you have information that shows that someone else is paying for the ***** parcel or that parcel is not included in the mortgage, please provide that to us so your monthly payment can be adjusted. 

  Valon Mortgage will reimburse you for the penalties you paid in the amount of $319.90. That is being processed. 

  Valon Mortgage, **** 

  NMLS ID: ******* | valon.com

  *************** 

  ********************************** 

  ******************* A-150 

  *******, AZ 85044 

  Should you have any questions or concerns, please write back, email us at ************************************ or call us at ************. 

  Sincerely, 

  Valon Mortgage, ****

  
  

  
  

  Customer response

  06/28/2024

  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me.  I will wait for the business to perform this action and, if it does, will consider this complaint resolved.
  
  Regards,
  
  ***********************
  
   
  

• Initial Complaint

  09/15/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Valon mortgage purchased two insurances (hazard insurance and lender's insurance) on behalf of me without notifying me and they DID NOT send any information or reflect the charge in any places. I believe they did this to a lot of victims like me and it could be a class case.I called them 3 three times to resolve it and they didn't respond.

  

  Business response

  09/20/2022

  Hello, 

  
  Thank you for your patience while we investigated your complaint. We appreciate your transparent feedback about the issues you faced with us. We take these concerns very seriously. 

  
  We identified the root cause of this issue was due to inaccurate information provided to us during the transfer of your loan. We also acknowledged that we had an opportunity to provide you with a better experience after reviewing the internal procedures used during this experience. The feedback that you provided along with the investigation of this review will ensure that you and other homeowners do not have this experience in the future.
  

  To confirm, you were not charged by us for lender-placed insurance and we provided a cancellation notice regarding this policy on 09/17/22. We also found that the previous servicer did charge you for lender-placed insurance. We have requested a refund of this charge  with the proof of the insurance that you provided us. We will provide you with an update once we receive their response. 
  

  Thanks again for your transparent feedback! We will be in touch soon regarding an update from our conversation with the previous servicer.
  

  Please let us know if you have any questions.   
  
  
  

  
  

• Initial Complaint

  08/24/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  My mortgage was moved to Valon a few months ago, in the last two months I've been receiving letters that I do not have the right insurance on my property required for the mortgage, I've had a mortgage for 8 years with this property with a master insurance policy that covers everything "all-in" for the building without issues. I followed the instructions provided TWICE and and submitted my insurance policy documents to Valon, they did not sen any confirmation when I did so. I even sent them an email, with it as an attachment. In the last week, I get a letter saying they purchased insurance on my behalf and are charging me over $3000 a year for this service. I have tried multiple times to call them, use the number they provided but can not contact a single person in their insurance servicing center to resolve this issue. The number leads to dead ends, it either hangs up on me, or puts me on a never ending hold as it "looks up my loan". I know Valon has their own insurance company and this feels like a complete an utter scam to me. I am stuck in this situation and have no idea how to get a resolution here. I'm using all means to get in touch with them but can not speak to a human being or get any response from them.

  

  Business response

  08/26/2022

  Hello, 

  
  Thank you for your patience while we investigated your complaint. We appreciate the transparency about the issues you faced with us and apologize for the experience that youve encountered thus far. We take these concerns very seriously. 
  After reviewing the insurance information that we had on file, we identified an opportunity we made with the procedures we took in handling that situation. This investigation will aid us in ensuring that we provide homeowners like yourself, with a much better experience moving forward. 

  
  We can confirm that we will be canceling your lender-placed insurance with the certificate of insurance that you provided us in your email this past Friday. 

  
  We apologize that you have not been able to successfully contact us. Our customer support phone number is **************** and our customer support email address is ********************************** if you prefer to communicate via email. Were available Monday through Friday from 9 am - 8 pm EST. 

  
  We sincerely apologize for this experience. If you have any questions regarding the information provided in this letter, please reach out to us, were happy to assist.
  

  
  

• Initial Complaint

  05/27/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  As of May 1st, 2022, we have to ask Valon Mortgage to use the money we have i escrow and pay the insurance for our home. I believe they may be insolvent and not sure why they are not paying this, our insurance has been placed as lapsed and this is hurricane season. This company lies about everything and no chack has been sent so we had to pay the cost of our policy our selves even though they have taken the money each money and placed it in escrow.

  

  Business response

  06/02/2022

  Hello *****************************, 

  Thank you for your patience while we investigated your complaint. We appreciate you contacting Valon and being transparent about the issues you faced with us. We take these concerns very seriously.
  

  Please see our findings below:
  

  On 05/16/22, *************************** called in to our client experience team to get the status of the overnight payment request from 05/10/22. She was transferred to the insurance department for the information. There, she was advised that an escalated request for updated payment information would be submitted to the accounting department. It was agreed that more time would need to be given for the insurance company to receive the mailed payment. 
  

  On 05/18/22, an insurance team member confirmed for the accounting team that the request to make a payment for the ******** policy was approved. 
  

  On 05/20/22, it was determined that the payment was not handled per the expectations of our standard operating procedures, and the insurance team followed up with the accounting team clarifying the approval and asking that the payment be expedited. As a result, payment for the insurance policy was issued and was delivered on 06/01/22.
  

  Valon learned that you paid the policy premium and that additional fees were incurred by this payment being overnighted when this complaint was received. Valon will reimburse those fees via check.
  

  Becoming aware of the communication gap allowed for Valon to find a solution for our you while addressing and fixing the underlying existential issue resulting in the complaint. We are focused on championing homeownership here at Valon; part of that mission means we care deeply about the homeowner experience. We are grateful for the opportunity to improve our process and systems to mitigate situations like this from occurring moving forward, we are sincerely apologetic for the issue occurring in the first place. If any additional questions or concerns arise, we are ready and eager to assist.
  

  
  

• Initial Complaint

  03/17/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Our mortgage was sold to Valon in December 2021. Our payment with the original company was $2080.90, when Valon bought our loan they sent us a letter stating that in March 2022 our payment would change to $2900 because our escrow was short. I've been back in fourth with this company explaining that $2900 a month is unacceptable. I've contacted **************, they explained that our taxes haven't increased and our homeowners insurance hasn't increased either. Valon has only stated they can get our payment down to $2423.37. They are a new company who I believe they aren't aware of what they are doing. All they provide is "I'm sorry". This company needs to understand that they can't uproot people's lives by increasing their monthly mortgage payments by $900 a month with no real explanation. I don't want this to happen to another customer. We've been homeowners for over ***** and have had our mortgage sold before and even escrow shortages but nothing to this extent.

  

  Business response

  03/24/2022

  Hello *************************, 
  

  Thank you for your patience while we investigated your complaint regarding your escrow shortage and increase in your monthly payment. Again, we appreciate you reaching out to Valon and being transparent about the issues you faced with us. We take these concerns very seriously. 
  

  Please see our findings below:
  

  On 02/17/22, you spoke with a team member here at Valon regarding your concerns with the increase in your monthly payment. It was discussed that there was a shortage due to changes in your escrow. You expressed that this payment was not affordable and that you didnt agree. The team member advised that the account could be reviewed and another analysis done. The account was reviewed and another analysis was done. On the same day, an email was sent explaining that there was still a shortage and that it was spread over 24 months to make the payment more affordable. After a few more emails the escrow manager called to discuss the situation and explain that the original escrow was not collecting enough money to cover all the expenses and that created the shortage. The manager advised that we could attempt to get a refund from the title company but that there was no guarantee that would happen. 
  

  There was no refund received from the title company and on 03/23/22 the manager spoke with you and an agreement was reached regarding the analysis and spreading the shortage over a 24 month period. You also discussed the new payment amount and when it would be effective. Additionally, it was agreed to waive the late fees that were charged for the March payment being late due to this situation.  
  

  Your feedback is important to us and provides great value. We hope that you will continue to let us know how we are doing. If you have additional questions or concerns, please ask, were here to help. 
  

  
  

*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. ↩