![Not BBB accredited](https://m.bbb.org/terminuscontent/dist/img/non-ab-icon__300w.png?tx=w_120)
ComplaintsforSierra Pacific Mortgage
Need to file a complaint?
BBB is here to help. We'll guide you through the process.
Complaint Details
Note that complaint text that is displayed might not represent all complaints filed with BBB. See details.
Initial Complaint
07/22/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
Started the process of a loan assumption September 2023, the company cashed the check for pre-clearance in October 2023. Since then, we started contacting the company around January, just simply asking for an update. Every single phone call is met with someone saying they will have someone from the assumptions office contact us and it's now been 7 months of phone calls with no resolution. Now, the company is transferring the loan to another servicer in two weeks. If they do that, they are keeping the application money and they process will have to restart.Business response
08/02/2024
Hello,
I apologize for the delay, this is a VA loan, and the non-veteran is wanting to assume the loan. Unfortunately, this VA loan is not assumable, and we have asked for an official letter from the servicer of the loan to provide to the client, and also refund them the fee. we will upload the letter as soon as we receive it.
Initial Complaint
06/20/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
I scheduled a consultation with ***** (of Sierra Pacific) for a possible addition to my electric solar panels. He was supposed to come out June 17 between 8 and 10 A.M. I called Sierra Pacific at 9:55 A.M. to check his ETA. The scheduler said he was running late and would be at my house between 10 A.M. and 1 P.M. I came home from my vacation 1 day early to be available for our scheduled appointment. I expressed my disappointment that I wasn't called and asked to speak with a manager. After waiting on hold, the scheduler returned to the phone and advised me that a manager would call me shortly. I even expressed my concern that I would not receive that call and the scheduler reassured me that I would. Unfortunately, I have not received a call from any manager. With cell phone availability, I am extremely frustrated and disappointed with the lack of regard for my time. There isn't any excuse for this lack of consideration.Business response
06/21/2024
Hello,
We have received this notification however, unable to locate a file under this name or address, please provide a loan number so we can investigate further. Thank you.
Customer response
06/21/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to my concern, and find that this resolution is satisfactory to me.Initial Complaint
08/16/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
Since July 5th 2022 I have been following their process to remove the *** from my mortgage by paying them to obtain a ***. A *** will show my LTV is between 50% and 60% according to Open Door and Zillow. Their required LTV to remove *** is 75% or less. I called and requested the *** per their instruction. They charged me the wrong amount for the *** over the phone. They sent me a refund check with no explanation. I called them last week on August 10th so then they escalated the issue. No one called me back. I called them again today August 15th and was given no alternative but to wait for the call from the escalation from upper management. Meanwhile they continue to collect $307 per month in *** that should be removed.They want me to give up trying. I will not.Please assist with moving this forward so I no longer need to throw away $307 a month. Thank you.Business response
08/16/2022
Hello, Sierra Pacific Mortgage ****** has received the attached complaint and is actively researching the issue with our sub-servicer ********** we will provide a formal response as soon as we have the data.Business response
08/25/2022
Please see the attached response letter to this complaint and let us know if any questions,Initial Complaint
07/05/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
Sierra Pacific eSierra Pacific erroneously reported a late mortgage payment on my credit report for December 2021. I contacted them and they admitted the error however despite me following up with them multiple times they still have not corrected this error.Business response
07/05/2022
Sierra Pacific mortgage gas received the attached complaint and is contacting our sub-servicer for the details, will provide a forma response within the BBB's 10 days requirement.Business response
07/15/2022
PLEASE SEE ATTACHED BUSINESS RESPONSE:
Initial Complaint
07/05/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
Contacted *********************** on June 16th and applied for a mortgage loan (FHA). Was required to submit all documents (employment, W2, insinuating circumstances letter of explanation, assets, etc.) to ensure there would be no problems with underwriting if a pre- approval would be provided. Got the pre- approval the same day and was told that everything looked great. ***** also provided reassurance to both my real estate agents (selling and buying) that there would be no issues after they asked him several times due to selling and buying at the same time. Immediately, my current home sold within 3 days and I along with my family completed the moving out process with the understanding that nothing would go wrong and we'd remain on schedule to close July 22nd.June 25th, ***** sends a text inquiring about child support payments which were clearly being deducted from my paychecks which we discussed and he reviewed and now there are issues with my DTI and the application overall. He admitted to missing that when reviewing my documentation. He dropped the ball!July 2nd, I receive an update that underwriting approved my loan and is currently preparing documents for closing (attached). This prompted me to upload proof of homeowner's insurance. Moments later, ***** calls to advise that they're unable to move forward with my application and there were no exceptions to be made point blank period. Now my home is sold and I've moved out with my kids and I might lose the home of my dreams if I don't find alternative financing within 3 business days. I failed to mention that after ***** dropped the ball, he completely ghosted me until the day he delivered the bad news. Sierra pacific is the builder's preferred lender and I'm very disappointed and stressed that I could lose my current home and the home of my dreams due to a lack of work ethics and knowledge. Also, ***** texted that he was verifying documents and information with underwriting prior to providing the pre- appBusiness response
07/05/2022
Sierra Pacific Mortgage ******** has received the attached complaint and will do our investigating on the issue and respond as soon as we have the information.Customer response
07/06/2022
I am rejecting this response because no one has contacted me regarding this matter, therefore, I don't believe their intent is to resolve the issues at hand.Business response
07/06/2022
Under the BBB rules we are allowed 10 days to prepare and respond to the complaint, we will be notifying you.Customer response
07/08/2022
I am rejecting this response because the truth isn't being disclosed.
*********************** requested all documents prior to providing pre-approval since he was advised verbally of the chapter 7 and debts upfront before pulling credit and proceeding (call recorded by *****).
The child support payments were clearly displayed as a deduction on my paystubs and should've been missed. Attached are text messages where ***** admitted to dropping the ball. My suggestion is this, If you can't attend your kids sports events and work collectively, then don't it.
The monthly child support payments are $558 and not $613.
Regarding the extenuating circumstances, ***** verbally stated that he'd contact his underwriter to ensure that the documentation provided would suffice and he said they approved and from there, immediately provided the pre-approval (call recorded by *****).
*************** never got upset and actually continued to try and find a resolution before being ghosted by *****.
During ***** verbal delivery of the decline, my wife barely said two (2) words and not once did she get upset as stated in your rebut. ***** spoke directly to me (call recorded by *****).
***** reasons for denial included a student loan payment being missed last year which was inaccurate.The missed payment was from 2018. And the *** which he failed to provide after several requests of inquiring. He specifically stated that because of the late payment that there was nothing that could be done but if it was just the *** we could've worked something out (call recorded by *****).
As of yesterday, my auto loan was refinanced reducing my payments to $725.
Again, I know that you want to believe that your employees are doing no wrong and that the consumer is just upset, but I've got all the facts and proof.
This transaction has caused me to lose my current home because of poor workmanship. Therefore, I'm requesting you take a look at the attachments provided to this response and take time out to listen to the recordings of the 3 phone conversations had with ***** that I can't attach.
I'm an honest consumer and want a fair opportunity to be reconsidered.
Thank you,
*********************Business response
07/13/2022
As described in the letter provided by our chief compliance officer, unfortunately we are unable to approve the loan application due to the *** guidelines.
Initial Complaint
06/10/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
When Sierra Pacific purchased my loan in November of 2022, they did not pay my property taxes via escrow until March of 2023, nearly 5 months late. They sent me a letter in February that $4098 was being sent to me via check for a surplus in my escrow account. I have not received that check. And now, after paying over $1000 a month for the past 4 months into my escrow account, my balance only shows $223 dollars. There is something way wrong with this picture. I have called them rectify it, but I am getting the same run around as I did when asking them to pay my property taxes. I feel that their outsourced people on the phone are incapable of handling this issue, and every time I call them I have to update them and tell me story over and over again. I wish interest rates were lower so I could just refinance and change my mortgage company because so far, my relationship with Sierra Pacific has been awful. I am sending this information to my broker and will share it with anyone who asks me about financing in the future.Business response
06/13/2022
Hello,
Sierra Pacific Mortgage ******* has received this complaint and is gathering the facts and will respond to the complaint as soon as possible. We must obtain information from the sub-servicer of the loan and apologize for the inconvenience.
Initial Complaint
06/06/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
********************* Mortgage Loan Originator was aware that we had an accepted Contract to purchase a primary residence located at *************************************************, requiring a mortgage. We had already received the pre approval letter. The closing date is June 10, 2022. On June 3rd ********************* located at the ************************************************************** office and ***************************** the retail processor for the same location have requested the same information multiple times. They continue ask for the same documents which can only mean they have been hacked, lost all of our personal information. This is a major security leak. They have lost all of the multiple pages of documentation needed for a loan closing. Everything a person would need for identity theft. Credit Reports, copies of birth certificates, naturalization documents, credit card, loan line of credit and banking information, social security numbers, tax, W-2s, 1099s etc. The will fail to complete the loan closing on time which results in multiple costs as we are relocating from out of state. We will need new living arrangements. The property is not likely it will close on time. It's entirely likely that we will lose our ******* money. The cost of inspection reports, appraisals, flights to and from ************, **. I have attached some of the emails with show requests for the same information and a sample of the documents I've sent. Requests for the same documents were sent on May 6, May 13th. There is not a specific category for desired resolution, but it would include additionally the cost to refund all of our expenses from their failure to complete the process. As well we would require Identity Theft protection for minimum of 10 years.Business response
06/06/2022
Hello,
Thank you for the notification regarding this issue, we will start our investigation and provide a response as soon as possible.
Customer response
06/08/2022
I am rejecting this response because:
I contacted the company regarding my issues. They did not protect my information by using protected encrypted contact. It was just over regular email. Secondly an error on their part resulted in them pulling my credit repeatedly causing a drip in my credit score. I have a mortgage loan closing and because of issues on their end the mortgage won't close. I can be sued by the seller. They haven't declined which causes a major issue on my credit report and furthermore I can't apply to another mortgage company to close on the purchase while this application remains open. I repeatedly asked them to just tell what it was they were looking for. Instead they just kept pulling the credit report on all three bureaus. On June 10th I will be homeless because I have no house to move into and I've sold my house. I will have to find expensive short term accommodations. If the issues were to be that I didn't quality for that amount of a loan then they never should have preapproved for that amount after I repeatedly provided information asking for any answers they needed that would prevent the account from going through. I would never have made that offer, paid for two inspections, plus an appraisal and paid an ******* deposit that cost me $5008 for the official check and airplane tickets to fly in to give them the funds directly in their hand since I was told there was no other way to make that payment.
Business response
06/13/2022
Hello,
Please see attached response letter from our Chief Compliance officer.
Initial Complaint
05/04/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
I secured a loan with this company in November of 2021. They provided me with contacts to an outside company that secured me a homeowners insurance policy. They then gave me a payment rate of $955 per month. I had regular contact with my loan care officer throughout the entire process. Starting in January, SPM started sending me letters stating I did not have homeowners insurance and if I did not secure my own, they would add theirs on. I spoke with my loan care officer who assured me that this was a glitch in their system and that he would take care of it. Months later, in March, I receive a letter stating that they had added their insurance onto my account and would be charging me for this. As a result, my payment would go up almost $300 a month. I spoke with my loan care officer again, who told me he was no longer with the company. I no longer have a contact with the company besides their corporate number. I checked with my initial insurance company who assured me that I still had coverage and that had never changed. I spoke with SPM/LoanCare and provided proof of my insurance multiple times and they assured me they would fix the issue. Its now 5 months later and nothing has been done to fix it. As a result, I will have to pay a higher mortgage rate next month or incur penalties. This is absolutely ridiculous as I have provided proof of homeowners insurance multiple times to them via their online portal and the insurance company itself.Business response
05/04/2022
Hello ,
Sierra Pacific Mortgage Company has received the attached complaint, we are working with our servicing department to find the root cause and will respond back as soon as possible.
Initial Complaint
04/14/2022
- Complaint Type:
- Product Issues
- Status:
- Answered
After we purchased our new home through Sierra Pacific Mortgage in January 2022, we sold our previous home in February and began the recast loan process. Initially we were informed by SP staff that we would NOT have to pay our mortgage loan for the months of March of April because of the significant amount of our recast deposit amount ($100,000) and that our new payment would not be due until May 1, 2022. Then we were told we needed to pay the original March payment of appx. $2000, and then the third time we were told completely contrary info. that we now owed them the March and April payment, for unspecified reasons. Upon our multiple attempts for making complaints, we were basically told, "we're sorry this happened," with no further info. or explanation. We find this completely unacceptable which resulted in undue stress and financial burden to our family due to their inconsistent information given and due to our initial budget being formulated based on their initial, incorrect and inconsistent information. We are now considering legal action and would like further advisement; thank you.Business response
04/14/2022
Sierra Pacific mortgage ****** has received the client's complaints and also has received a direct email from client. We are actively investigating the issue and will respond back with a formal response as soon as servicing provides their information and resolution.
Thank you
Customer response
04/22/2022
I am rejecting this response because:
Business response
04/22/2022
Hello, we understand and apologize for the delay, our servicing department is almost done with their research and a letter to client is being drafted to send. Sierra Pacific utilizes sub-servicers and that is the reason it is taking a little time to complete this.
Customer response
04/22/2022
I am rejecting this response because: I am rejecting this response because: it has been months that we have been patiently dealing with their inconsistencies, unprofessionalism, inaccurate info., and unacceptable response time, and now they expect us to wait even longer for a written response; typical of this company.Business response
04/22/2022
Please see attached response letter, we believe the company has resolved the issue as detailed in the attached letter..Customer response
04/25/2022
I am rejecting this response because: they are continuing to not take responsibility for their consistently false information previously provided to us; we know what was said no matter what they claim otherwise. We were told inconsistent and inaccurate directives on numerous occasions, IE: we would not have to pay March and April's mortgage, then only pay for March's mortgage and then finally that we owed both. This company is shady. unprofessional and irresponsible and there are many other similar, negative incidents reported on Yelp and the BBB site that prove this. It it unacceptable for this company to continue practicing this pattern of irresponsible behavior, especially when dealing with our finances and livelihood. And his is why we are pursuing legal action and are seeking reimbursement for unneeded financial and emotional stress caused by their poorly ran organization.Initial Complaint
02/23/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
My home mortgage is through Sierra Pacific Mortage. In January 2022, I payed my mortgage via the automated system. Apparently, the payment did not go thru. I was not aware of this. I was never notified by Sierra Pacific Mortgage that they did not receive the payment. I made my February payment via the automated service. It stated my usual monthly payment of $1911.73. After making my payment, I got a call from Sierra Pacific Mortgage on 2/17/22 on a line that clearly identified the company as the caller. The caller stated they were calling to see if I wanted to refinance my home (*************************). He *** me that he would see what the could offer, put together a package and email me my options. That evening, he emailed me stating that they could not refinance my home because my credit score was "too low" Surprised by that, I went to Experian and pulled my report. How horrified I was to see that Sierra Pacific Mortgage had reported me to the credit bureau as being more than 30 days passed due. I called no Monday 2/20/22, to speak with a supervisor. The woman who answered, wouldn't give her name, insisted they had notified me. I reiterated to her that at no time had I received any calls, messages, emails, texts or letters from them. She then asks me if I had received my tax statement or letters regarding refinancing. I told her that only got monthly statements. She said "I'll email it, but nothing we can do" I asked, why no emails were sent. No response. I asked for the number that they called from to notify me of the missed payment, to which she replied "WE USE SPAM NUMBERS".I asked her what I owed, (Expecting my usual monthly *** of $1911.73, plus the late fees). She went on to tell me that my mortgage payment had increased to approx. $2300. I wasn't notified of this either.( fixed mortgage). Her reply, Neg. Escrow/Incr. tax/HOI. They had wrong info on file for HOI /Warranty. Records not updated.My credit ruined. As a result, other creditors closed my accounts.Business response
02/23/2022
Sierra Pacific Mortgage ** has received the borrower complaint and is investigating the issue with the servicing department, will provide a response as soon as we have confirmation from the servicing department.
*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. ↩
BBB Business Profiles may not be reproduced for sales or promotional purposes.
BBB Business Profiles are provided solely to assist you in exercising your own best judgment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles.
When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.
BBB Business Profiles generally cover a three-year reporting period. BBB Business Profiles are subject to change at any time. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.
As a matter of policy, BBB does not endorse any product, service or business. Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
Customer Reviews are not used in the calculation of BBB Rating
Customer Complaints Summary
17 total complaints in the last 3 years.
2 complaints closed in the last 12 months.