Complaints

This profile includes complaints for GMFS Mortgage's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  GMFS Mortgage

  7389 Florida Blvd STE 200A Baton Rouge, LA 70806-4657

  
• 

  GMFS Mortgage

  5411 Indian Hill Blvd Diamondhead, MS 39525-3324

  
• 

  GMFS, LLC

  4009 Vineville Ave STE B Macon, GA 31210-5040

  
• 

  GMFS Mortgage

  3830 Nelson Rd STE 300 Lake Charles, LA 70605-2453

  
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  GMFS Mortgage

  303 W Park Ave Rear D Greenwood, MS 38930-2920

  

The complaint text that is displayed might not represent all complaints filed with BBB. 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.

• Initial Complaint

  Date:08/12/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  On 5/20/24, I received a letter from GMFS (mortgage servicer) that I was short $2,938.94 in my escrow account (we recently changed insurance companies). The letter stated that if I did not send them that money, my mortgage payment would increase. I mailed them a check that day. Subsequently, GMFS sent me a letter stating that on 6/1/24, *** ****** would be servicing my loan. I then called GMFS and they stated that they would send my check to *** ******; however, on 6/3/24, GMFS (who no longer serviced my loan at that point) cashed my check. I called GMFS (now shellpoint) sometime in June or July and spoke to them about this issue. They told me that they had 60 days to get the money over to *** ******. However, it has now been 60 days, and, according to *** ******, they do not have my money. GMFS is now owned by shellpoint and shellpoint tells me they can't help me because everything is now in *** ******'s hands. Shellpoint believes some of the money must have been applied to principal; however, my current loan payments are the exact same as they were with GMFS, and the check that GMFS cashed specifically stated in the memo that the money was for escrow shortage. Therefore, either way, GMFS/shellpoint misappropriated my money. Bottom line: GMFS/shellpoint has stolen almost $3,000 from me and I want my money back.

  Business Response

  Date: 08/13/2024

  GMFS reached out to both the previous server and the current mortgage loan servicer upon receipt of this complaint by *** ******* thru the BBB.   The new servicer (*** ******) provided the attached information showing the payment of $2938.94 was applied to the escrow balance on 5-31-24.  This eliminated any shortage.   On 7-1-24 the escrow balance was re-examined and a slight payment increase to account for the increase in insurance and or taxes was made to cover the escrows moving forward.   The monthly escrow payment was increased from $340.60 to $348.79.   We apologize for any inconvenience the transfer of servicing has caused *** *******.  Please let us know if we can provide any additional information to help resolve this issue.

  Customer Answer

  Date: 08/14/2024

  
  Complaint: 22128797
  
  I am rejecting this response because: this is the complete opposite of everything I was told by both *** ****** and GMFS/Shellpoint on 8/12/24. I have no idea who ******* ********* is, but on 8/12/24, I spoke with someone by the name of *** who told me he was working with GMFS to obtain the money from the check in dispute (I emailed him a copy of the front and back of the check on this date at [email protected] with the loan number and attn: *** in the subject). He said he would call me back in five days to update me on the situation. 

  Additionally, the numbers here do not make sense. When we changed insurance companies, the new insurance company (********** ********* *******) wanted ****payment up front for the entire year of 2024****. So, on 5/14/24, we cashed a check we received from ********* (our old insurance company) for $2,816.00, which I believe was money that ********* had already been paid through our escrow account with GMFS. Then, on this same day, we made **prepayment for the entire year** to ********** ********* ******* for $2,452.00. Then, on 5/20/24 we received a letter in the mail from GMFS stating that our escrow account was now short and that we had the option to **EITHER** A) send them a check for $2,938.94 **OR** B) have our monthly escrow payment increase to $348.79. So, we chose option A and mailed them a check that same day. So where did $2,233.11 go??? Because according to the letter I received from GMFS on 5/20, the check we wrote was the amount we needed to **keep** in our escrow account, otherwise--without increasing our payments--we would be short at the end of the year. That $2,233.11 certainly couldnt have gone to taxes because those are paid at the end of the year, and it certainly couldnt have gone to ********** ********* ******* because they already received $2,452 from us on 5/14, which covered homeowners insurance for the entire year. Thus, how did we magically lose $2,233.11, especially when GMFS directly told us that our payments would not increase if we sent the check? It almost looks like we're paying ********** ********* ******* twice?

  Additionally, with both *** ****** and GMFS, our escrow payments have ALWAYS reflected $340.60, not $348.79. *** ****** has never provided us any notification of this change and has apparently done this behind our back with no explanation whatsoever. Meanwhile, every other *** ****** representative has consistently told me the opposite of what is reflected in this email. It appears someone needs to give me a call and explain this situation to me because everything that has been stated in this response and its attachment completely contradicts all prior written and verbal correspondence from both GMFS and *** ******. 
  
  Sincerely,
  
  ***** *******

  Business Response

  Date: 08/15/2024

  GMFS reached out to *** ****** and asked for a further breakdown of the escrow analysis and shortage.   We also requested that *** ****** reach out directly to the borrowers to go over these figures to make sure everyone is in agreement.  Below is the response received from ** ****** regarding the breakdown.

  The $348.79 is the customer’s new base escrow payment from the prior servicer’s escrow analysis.  Due to the customer paying the shortage, their payment effective 7.1.24 would return to base escrow.  If the customer had not paid their shortage, it would have increased to $348.79 base escrow plus an additional $244.91 shortage spread, resulting in a total monthly payment of $1,698.91.  Please see GMFS Escrow Analysis statement dated 5.9.24 effective 7.1.24 attached.
  
  @****** **** Can you please have outreach made to the customer to explain?  Thank you!
  
  

   

• Initial Complaint

  Date:06/12/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  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

  Date: 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 Answer

  Date: 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

  Date:12/18/2023

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  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

  Date: 12/27/2023

  Please see the attached response provided by SLS, GMFS's subservicer.

• Initial Complaint

  Date:11/28/2023

  Type:Billing Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  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

  Date: 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
  
  Enclosure
  

  Customer Answer

  Date: 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

  Date:03/16/2023

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  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

  Date: 03/22/2023

  GMFS's complete response is included in the attached.

   

  Thank you!

  Customer Answer

  Date: 03/23/2023

  
  Complaint: 19611218
  
  I am rejecting this response because:
  
  Sincerely,
  
  ******* ******

• Initial Complaint

  Date:12/19/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  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

  Date: 01/04/2023

  Please see the attached letter.  Thank you!

• Initial Complaint

  Date:09/19/2022

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  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

  Date: 09/29/2022

  Please see attached response letter.

   

  Thank you!