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Complaint Details
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Initial Complaint
06/12/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
I’ve had GMFS as a lender for almost a full year. I’ve never had any issues and have always paid my payment on time. I paid this current months payment and it shows on their website but I’ve been told I’ve not paid it. I don’t have the money to pay a double payment and I can’t get any clear response or resolution from anyone. I take my credit and late fees very serious and I’m trying to be transparent but I’m not getting any help.Business response
06/17/2024
GMFS has confirmed that your payment posted to your account on 6/13/2024. Your loan is paid current at this time. Your next payment is due on 7/1/2024.Customer response
06/17/2024
Complaint: 21838456
I am rejecting this response because: They did not fix the issue. I just paid double so I wouldn’t be charged a late fee . They still owe me a months mortgage so my next payment shouldn’t be till August. This is ridiculous
Sincerely,
******* *****Initial Complaint
12/18/2023
- Complaint Type:
- Billing Issues
- Status:
- Answered
I was currently called for active duty service, during this time the adjustment to my income caused to get behind on some of my bills. I scheduled the payment 11/21/2023 and somehow it corrected to the 12/1/2023. There Is a 10 hour time differences from where I'm at in the middle east and back in the US. When I called them 12/18/2023 after they reported me for being 1 day past 30 to the credit bureau I was told there is nothing they can do.Showing absolutely no understanding for my situations, there is multiples days I go without having the luxuriou of talking to my family sometime I go weeks on end without connection the internet so it's hard to makes sure my bills our always on time. note i've never once asked this company to un report something to a credit bureau. Is this the way this company treats their servicemembers' if so then why would anyone want to do business with this company?Business response
12/27/2023
Please see the attached response provided by SLS, GMFS's subservicer.Initial Complaint
11/28/2023
- Complaint Type:
- Billing Issues
- Status:
- Resolved
This company has repeatedly mishandled my escrow and has been an absolute nightmare to deal with for my mortgage. They paid out an incorrect insurance policy, despite having been sent the new policy declaration page which caused an extreme escrow shortage, which I then had to wait for a refund check from my previous insurance company before I could pay down. When I asked to spread the escrow shortage over five years as is allowed per their policy, I was told it could not be done. This is the second escrow shortage in as many years that this company has assessed on my property. I will be refinancing as soon as humanly possible to get away from this garbage company. Almost every interaction I have had with their customer service reps both in escrow departments insurance departments and payment departments have been rude and unhelpful. I myself used to be a mortgage loan officer, and would never have treated my clients like this. Knowing everything that I know and being able to navigate this system is the only reason that I haven't had a worse experience with this company. However, I do find it funny that anytime I mention that I actually know the mortgage industry and used to work in it, the attitude of the representative completely changes and gets mildly better. all in all, I would never work with this company again, and I am horrified that they are allowed to do business like this.Business response
12/07/2023
Dear ******* ******,
Specialized Loan Servicing, LLC (“SLS”) is writing in response to a dispute that you filed with the Better Business Bureau (“BBB”) with regard to the servicing of the above-referenced mortgage account. We understand that by filing a dispute with the BBB, you have authorized us to upload a copy of our response to the BBB website. SLS has partnered with GMFS LLC (“GMFS”) to service your mortgage and will be acting as the servicer on behalf of GMFS.
SLS records indicate that an insurance disbursement in the amount of $4,835.92 was made to ******* ******** ********* on July 31, 2023. The policy was cancelled on August 7, 2023. On December 6, 2023, SLS confirmed with the insurance company that a full refund was issued to you on August 18, 2023.
SLS records further indicate that an insurance disbursement in the amount of $4,692.00 was made on September 11, 2023. An additional insurance disbursement in the amount of $4,692.00 was made on September 12, 2023. Both insurance disbursements were made to ******** ********* ******** ***. On December 5, 2023, SLS confirmed with the insurance company that a refund in the amount of $4,692.00 was sent to you on September 27, 2023.
Funds in the amount of $1,000.00 were received on November 16, 2023 and applied to the escrow shortage. Additional funds in the amount of $5,000.00 were received on November 16, 2023 and were also applied to the escrow shortage.
An updated escrow analysis was completed on December 1, 2023 which includes an escrow shortage spread of 55 months. The escrow analysis has an effective payment date of December 1, 2023 and is enclosed for your reference.
Please be advised if the refund amounts sent to you are provided to SLS, an updated escrow analysis can be completed to potentially lower the monthly payment obligation further.
SLS strives to ensure courteous and expeditious handling of any servicing issues which may arise during the time that your loan is serviced with us. Please understand that we handle all borrower comments and concerns with the utmost consideration. We regret to hear you were unsatisfied with the servicing of your account.
If you have any questions regarding this information, please contact Customer Care toll free at *************** Monday through Friday, 6:00 a.m. until 6:00 p.m. MT. We accept calls from relay services. We provide translation services for individuals who indicate a language preference other than English. Se habla español.
Sincerely,
*****, teller #11107
Customer Care Support
GMFS
EnclosureCustomer response
12/08/2023
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID 20927954, and find that this resolution is satisfactory to me. I was well aware of the details of your mishandling my insurance policies, as well as the initial shortages your employees were never able to explain. My complaint was regarding both your mistakes and your employees lack of empathy or attempts to rectify the situation.I just wanted to make the world aware of your poor business practices and your employees poorer attitudes. I will continue to do so in other avenues until rates lower and I can be rid of your company via a refinance, but this complaint can be considered settled for now.
Sincerely,
******* ******Initial Complaint
03/16/2023
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
With incredible frustration and disappointment and failed attempts to negotiate the terms of my loan agreement in good faith. I expressed my desire to no longer move forward in pursuing a conventional mortgage loan with GMFS to finance the sale of the property. Before completing Fannie Mae’s home loan education course, I was not provided any information regarding the debt-to-income ratio for the financed portion, later confirmed at forty - eight percent or any information to consider the affordability. This would cause unnecessary hardship for my family and likely result in foreclosure after entering the agreement for the aforementioned property and acknowledging my concerns. I was assured that a number of loan products and options were available to consider and negotiate a more reasonable payment despite the loan amount. However, only the terms of conventional loan financing were disclosed and presented in writing, eliminating other loan financing options even after expressing my desire to obtain such financing, including a housing assistance program I qualified for. As a result, the obscurity of details to properly consider all financing options has prevented further negotiation and agreement on the loan terms. I can only assume why. The appointment for the appraisal was scheduled for 3/14 and paid, but after talking with my realtor, I learned that the appraisal had been canceled by the LO. The lending practices mentioned above have also resulted in unnecessary and additional unforeseen expenses for my family to secure safe and permanent housing. Now the seller is threatening an imminent civil suit. These practices have caused an unnecessary and avoidable stress response that has impacted my entire family. Please understand my efforts to exhaust every option to resolve this with the lender, but none have been successful. I am being coerced into a deal with the seller by my loan officer because of false information and failed promises.Business response
03/22/2023
GMFS's complete response is included in the attached.
Thank you!
Customer response
03/23/2023
Complaint: 19611218
I am rejecting this response because:
Sincerely,
******* ******Initial Complaint
12/19/2022
- Complaint Type:
- Billing Issues
- Status:
- Answered
I claimed my homestead exception at the end of September and immediately submitted the appropriate paperwork for my escro/payment to be reduced. I followed this up with multiple phone calls that could never reach ** because of the unreasonably long wait time exceeding thirty minutes. No change was made to my billing and at the end of November I finally reached someone in customer service that acknowledged that the paperwork had been received but no action taken. She said that my payment would change immediately and would reflect on Decembers payment. The system will only allow me to make the higher/original payment still, so I called ** again on December 19th. The gentleman who spoke with me used a twisted set of reasons why my payment would not update until January and showed no concern for being accountable for what the previous rep said or that my submission has been sitting around for almost three months now. That’s terrible customer service in my opinion and I don’t like that they are impacting my finances.Business response
01/04/2023
Please see the attached letter. Thank you!Initial Complaint
09/19/2022
- Complaint Type:
- Customer Service Issues
- Status:
- Answered
We paid our mortgage on 08/30/2022. We have been trying to catch up with it due to financial hardship. We recently submitted payment to the mortgage company on 08/19/2022 this was for July 2022 mortgage payment. However one of the payments were returned due to insufficient funds. Once I was notified about the returned payment, I contacted GMFS immediately to let them know I paid from the wrong account via phone and email. Informed them that I will re make the payment from the correct account which is what I did. The company took the payment then once we made the August 2022 payment on 08/30/2022 the payment was accepted. However, I notice after a couple days it wasn't applied to my account. Contacted the mortgage company and the representative informed me they will sending the payments back due to us having sent in payments that were returned. The mortgage company informed us at that time we have to send certifed funds to them for the next 6 months. Okay, I didn't make fuss about it. My husband and I just said okay once they send us the funds we will go ahead and make the payment . We pay our mortgage from 2 different accounts. The total mortgage amount is $1638.85. However there is a late fee, so the total amount we gave them on 08/30/2022 was $1655.00 . One payment was $833.00 and the other $832.00. Now both payments was suppose to be returned to us by 09/15/2022. Only one payment has been given back and that is for the $833.00. The 2nd payment of $832.00 was sent to my bank but was told by the mortgage company to release the returned payment on the 09/25/2022. Which is not what was told to us via phone and email. Both payments were suppose to be returned by 09/15/2022 not only one payment. Contacted the mortgage company once again left message for Alicia Mills supervisor there at the mortgage company. Her phone number if needed is 720-348-8687. The only thing we want is for the 2nd payment of $832.00 to be release to me so we can make our August payment.Business response
09/29/2022
Please see attached response letter.
Thank you!
Initial Complaint
04/06/2022
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
April 4, 2022 I received an alert from Experian and Transunion about a hard inquiry from Credit plus and GMFS was listed . I attempted to call GMFS and left a voicemail. I did not authorize a inquiry for this company. I also filed a police report as Experian recommended for this matter. Experian did an investigation quickly. I noticed my last four is close to another social possibly listed by name . The inquiry was deleted from Experian. Trans union is wanting me to contact credit plus. I also emailed the inquiry department for credit plus no response . Trans union won't delete unless a deletion letter is obtained from credit plus. I called equifax I was shocked when no new inquiry was on my profile. If a mortgage lender made an error and caught it before running equifax that is very unprofessional to not inform me or return my phone calls. I am having a difficult time with my work schedule trying to run behind credit plus in order to receive a deletion. I'm disgusted and irritated because I did not authorize any of this. I'm extremely upset . I understand we make human errors but this was an urgent matter due to a lot fraud and identity theft going on.Business response
04/28/2022
Business Response /* (1000, 5, 2022/04/14) */ Thank you for submitting your concerns to allow us an opportunity to respond. We have reviewed your complaint and after internal review, we have determined that your credit report was pulled in error. We have notified the credit reporting agency of the error and have asked them to remove the inquiry. It may take up to 30 days for this removal to reflect on your credit report. Please don't hesitate to reach out should you have any questions or concerns.Initial Complaint
03/10/2022
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
Called to make our normal monthly payment of $1300, give or take a few dollars. Gave them verbal consent to withdraw the stated amount. No email confirmation was given like they usually do. Checked my bank acount today and saw that they drafted 2850.14! After speaking with an agent about this error, i was offered no explanation. This is criminal activity. They record all phone calls and this particular recording will be used in court to prove that they are illegally drafting money from my acount. Crooks!Business response
04/08/2022
Business Response /* (1000, 8, 2022/03/28) */ GMFS evaluated the consumer's account and confirmed that the payment was erroneously drafted twice. The duplicate payment was credited back to the consumer on 3/14/2022. We sincerely apologize for the error. This is not a typical customer experience and we appreciate the opportunity to make it right.Initial Complaint
02/15/2022
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
My mortgage was 1741 monthly and my tax and ins went up by 150 monthly so instead of increasing my note to 1893 my note is now 2313 monthly. I have left several messages with promises a manager would return my call and still waiting. They can never call you back same day like they promise or even return the call at all. When discussed 4 times with several reps over a 2 week period I am told they will do another analysis in July. I have been paying this inflated monthly for quite some time now and feel like they are just keeping my money. I want this resolved now not in July. I want to lower my payment now.Business response
03/01/2022
Business Response /* (1000, 5, 2022/02/16) */ GMFS uses a sub-servicer, *********** Loan ********* who performs all servicing related functions on behalf of GMFS. *** has reviewed the loans and provided the following facts 1. Mrs. ****** had a home owner's insurance policy with ***** *** with effective dates from 6/1/2020 - 6/1/2021. On 5/7/2021, *** received a cancellation notice from ***** **** At that time, *** sent a letter to Mrs. ****** notifying them of the cancellation notice and that any policy premium refunds would be send directly to the borrower. Any refund amounts should then be remitted to *** to avoid an escrow shortage. 2. On 6/4/2021, *** received an invoice from ***** *** for anew policy with a term of 6/1/2021 - 6/1/2022 and a premium of $4,383.12. This premium was paid on 6/4/2021. 3. On 6/14/2021, *** received an invoice from ******** **** Insurance for a policy with effective dates from 6/1/2021 - 6/1/2022 and a premium of $3,243.84. *** paid this invoice on 6/14/2021. 4. On 6/29/2021, *** received a cancellation notice from Access Home Insurance cancelling the policy that was paid on 6/14/2021. At that time, ***sent a notification to the ******* advising them of the cancellation and informed the that any premium refunds would be send directly to them. In order to avoid an escrow shortage, they were instructed to remit those funds to SLS. *** never received the premium refund proceeds from the borrower. As a result, there was an escrow shortage, which is why the ********* monthly payment has increased. If a lower payment is desired sooner than the annual escrow analysis review, the ******* have the option of paying the remaining escrow shortage in full. We trust that the details above address the escrow shortage. We appreciate the opportunity to provide these details. Consumer Response /* (3000, 7, 2022/02/17) */ (The consumer indicated he/she DID NOT accept the response from the business.) My note was 1700 and now 2350. As of today the shortage has been paid so you have your 3200 from the other company . My ins only went up 1000 for the year and taxes 75 monthly as per your office so if the difference after the 3200 is paid which it is as per your office how can my note go up 600 a month when the added ins and tax is only 175 monthly ??? You need to do a new analysis and redo my monthly payment for March and not a year later .Initial Complaint
01/05/2022
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
Gmfs sold my mortgage to pennymac well over a month ago and pennymac withdrew my funds for my mortgage out of my bank account.Even though gmfs no longer owns my mortgage they illegally withdrew mortgage funds out of my bank account yesterday too putting my bank account in the negative and making me unable to pay my bills.when they sold my mortgage they should have done away with the auto pay but they didn't. I spoke with a representative from gmfs yesterday who said my money would be reimbursed within 10 days. I emailed my loan officer today and she said they forwarded my money to pennymac. I told her they no longer owned my mortgage and shouldn't be touching my account.i called pennymac and they said gmfs didn't send them anything so I think gmfs is running some kind of racketBusiness response
01/17/2022
Business Response /* (1000, 5, 2022/01/06) */ GMFS sold this consumer's loan effective January 4, 2022. His draft with GMFS was set up to occue on the 1st of each month. Since the 1st was a holiday, the draft occurred on January 3, 2022, a day before the transfer became effective. Penny Mac did, in fact, draft his account as well. GMFS wired funds back to the consumer's account on Jaunary 5, 2022.
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Customer Complaints Summary
17 total complaints in the last 3 years.
3 complaints closed in the last 12 months.