Business Profile
Financial Services
Midwest Loan ServicesThis business is NOT BBB Accredited.
Find BBB Accredited Businesses in Financial Services.
Reviews
Customer Review Ratings
1.54/5 stars
Average of 11 Customer Reviews
Want to share your experience?
Leave a ReviewReview Details
Review fromColleen M
Date: 11/04/2024
1 starPoor service and lots of confusion ...I'm currently dealing with a missing $8500.00!! from my escrow account because my loan was transferred from roundpoint to midwest...what a nightmare!Review fromJoseph M
Date: 08/19/2024
1 starDo not use their Bi-weekly payment service. It seems like a scam. You are essentially giving them a one time gift of $75 and an annual gift of $60 to have the privilege to make an extra one month payment by the end of the year. I was under the impression that payments would be applied as sent to justify the extra fees but, it does not. They will not refund your money when you ask to revert back to monthly due to their pointless program.Review fromKa G
Date: 08/09/2024
1 starKa G
Date: 08/09/2024
Hate. My loan was just sold off to this servicer from RoundpointRoundpoint was great for me. Called these people to figure out how to pay additional into my escrow because my city taxes increase annually. Not allowed? TF you mean Im not allowed?!?!Ugh. They said set up a separate savings. Or you can just let me pay you.Midwest Loan Services
Date: 08/14/2024
Thank you for your review. We are sorry for your frustration as it relates to your Escrow account. The *********** Settlement Procedures Act (RESPA) does regulate when funds can be made towards your Escrow account and likely this is the culprit. If you are willing to give us a chance to explain this in more detail, please call our toll-free line at ************** and request to speak with a supervisor. One of our supervisors will be happy to explain this in more detail.Review fromToby W
Date: 08/09/2024
1 starToby W
Date: 08/09/2024
Terrible company. Do NOT under any circumstances work with these people.My account was transferred to this company which was not my choice and they are absolutely horrible. There is no way to pay these guys, and they cannot be contacted to pay them.Midwest Loan Services
Date: 08/14/2024
We are very sorry to hear that you are experiencing frustrations with Midwest Loan Services. Please know that payments can be made on our website (midwestloanservices.com), by mail, through our IVR *************) or by selecting our *************************** when you call in. Our **************** team would be happy to assist you with payment processing. Additionally, you could also try contacting us via email at ****************************************** and we would be happy to assist you. Please feel free to request to speak to a supervisor so that we ensure that we address your concerns.Thank you, MLS Customer RelationsReview fromDana L
Date: 03/03/2024
1 starTerrible - Midwest Loan Services = Terrible.. Do Not Patronize. Terrible Outfit.Review fromDA S
Date: 11/10/2023
1 starDA S
Date: 11/10/2023
I am trying to pay off a large part of my mortgage loan. The money was wired to Midwest Loan Services and my financial institution got a confirmation that the money was accepted by Midwest. However, Midwest Loan Services only posted 10% of the money wired to pay my mortgage loan, and I was told by the first Midwest Loan Services rep that Midwest Loan Services only received the 10% amount. I went back to my financial institution and they showed me the confirmation that Midwest Loan Services received AND accepted the full amount of funds. I then called up Midwest Loan Services and emailed them the confirmation of their receipt from my bank, and I was told that the remaining 90% would be put towards my mortgage loan tonight and it would show up tomorrow. I am wondering whether someone tried to steal 90% of the payment? I asked if it was a typo but Midwest Loan Services said it was some glitch in the system. I think I deserve more of an explanation, because it was a huge amount of money that went missing.Midwest Loan Services
Date: 11/20/2023
Thank you for bringing this to our attention. As discussed via email with you, our findings upon researching your concern were that the agents you spoke with provided incorrect information to you. We are very sorry for the inconvenience and any stress that this has caused. We have met with our agents to ensure they are familiar with this process and to ensure they understand the frustration they caused. We have confirmed that your full payment has now been processed as intended and effective-dated appropriately. Once again, we apologize for this error. Thank you.Review fromJean K. S
Date: 11/06/2023
5 starsJean K. S
Date: 11/06/2023
I spoke to ******* who was outstanding. She was able to help me with my account online.I was frustrated and needed assistance and she walked me through the process with patience and understanding. Thank you for your kindness.Midwest Loan Services
Date: 11/07/2023
Thank you for your review of the service that ******* provided to you during your call.Review fromKJ M
Date: 10/21/2022
1 starKJ M
Date: 10/21/2022
Midwest bought my loan from my bank, not my choice, and I am completely shocked at their level of incompetence. Although I always pay my mortgage on time, they reported my account 6 months past due to the credit bureaus dropping my score from a 790 to low 500s! WTH???!!! After hours and hours of my time spent attempting to contact and correct, I was told they didnt know how this happened. What?! It took hours of me proving to Midwest that they had falsely reported late payments to the bureausfinally, they corrected by sending letters to bureaus explaining their mistake. Oh, but hot doesnt end there. Because at this point, I had absolutely no trust in this lending institution Ive made the next six payments in full. Shortly after, I started getting phone calls from the collections department. Once I finally was able to get them on the phone I was told that I was past due on my mortgage only to see again that they reported late payments to all three bureaus dropping my score again back into the 500s. Same process all over again. Once corrected after hours and hours and hours of me pursuing their mistake. And it doesnt stop there. I was then contacted by the collections department saying I have late fees due because of my missed payments throughout the year. At this point all I can do is laugh or they might drive me crazy. Again, it took hours of me proving that they were at fault and there shouldve never been any late paymentsat this point theyre harassing me with their incompetence and lack of ability to even run a business. Two years of this!!! This company needs to be investigated.With this level of incompetence, I knew I could not be the only one with this type of experience. This is not a one time mistake, this is obviously a cancer running wild through the company at the customers expense.Midwest Loan Services
Date: 11/16/2022
A letter of explanation of the complaint was mailed to the borrower on November 16, 2022.Review fromS. B.
Date: 09/17/2022
1 starS. B.
Date: 09/17/2022
This company is a total fraud. They should be in jail. I have had no late payments for the last 20 years. In February, I made my payment as usual. They rejected it without notifying me. This appears to happen to many of their customers. I kept making my payments each month plus additional principle. The website indicated everything was fine. When they updated their website in August, I received a notification of a late payment. They recorded 6 months of late payments even though I have been paying hundreds of dollars in additional principle each month. I asked why they did not reach out to me and they had been calling someone else and giving them my account info. My credit went from 843 to a ************************************************ late fees. I have disputed the issue and hired an attorney. They should be in jail. Major PII violations. DO NOT USE!!!Midwest Loan Services
Date: 09/19/2022
**************************** ****************************************************** ************************** RE: Better Business Bureau Dear ****************************, Please accept this note as a formal response to the complaint you filed with the Better Business Bureau regarding the service you received from our company, Midwest Loan Services. After a full review of the mortgage account, I have confirmed that the February 2022 payment was not made until March 7, 2022. I see that you log on to the Midwest Loan Services website monthly to make the monthly one-time draft. According to our website access log, there was no access for February 2022. Each monthly statement from mid-February will reflect the next due date as the month prior, total due for the prior month and current month and a late fee assessed until you brought the account current on August 4, 2022. Per the phone conversation with ***************** your account was credited one late fee and the agent assisted in setting the account on a recurring auto pay forward to avoid future issues. Midwest Loan Services is required to report payments accurately, as received. I apologize that you have noted an unpleasant experience with our company as this is not our intention. If you need to discuss this further, please contact **************** at **************. Thank you ************************* AVP **************** & Special LoansS. B.
Date: 09/19/2022
Your statement is not true and you didnt contact or try to notify me of a problem. No emails, texts, calls, or letters. My attorney is reaching out regarding the matter.Review fromBee J
Date: 08/07/2022
1 starBee J
Date: 08/07/2022
I recently paid off my loan in full after 6 years of condo ownership. Working with the company has been great. I believe I mistakenly paid late once during the period of my loan. The call center employees are very professional.In the last few weeks, I have been wishing resolution for my loan closure and my escrow refund check. On july 20, you mailed my closing letter in full with the letter saying any applicable refund check would mail under separate cover. The next day, the 21st, the check was mailed. On July 30, I got the closing letter in my locked mailbox. It is common sense that two mailings a day apart would be received one day apart. It is now august 6, a week after the first mailing. Your call center has told me several times that the check was mailed. No one can explain why the check has not shown up. I asked for them to cancel the check and they refuse to do it until 3 weeks after the mailing. I also was not told about their wire transfer option. Additionally, they refuse to waive the wire transfer fee if I cancel the check. It is 2022, and they dont have direct deposit as an option. I wouldnt trust this company to do the right or ethical thing. As soon as your business is done with them, the assistance stops there and the blame is on everyone else but them.Midwest Loan Services
Date: 08/09/2022
Dear ************ Please accept this letter as our formal response to the complaint you filed with the Better Business Bureau (BBB) against our company, Midwest Loan Services, on August 7, 2022.As we know, your home loan paid off on July 6, 2022. Once a loan pays off, an array of required functions begins including the distribution back to homeowners of any remaining escrow overage. There is a 10-business day time frame to process all steps on a paid in full loan, which our company met. On July 20th, our company disbursed a check in the amount of $2,052.31 representing the remaining escrow funds and we mailed that to you, using the ***** on July 21, 2022. On August 2, 2022, our records confirm you called Midwest Loan Services and spoke with one of our **************** associates to find out the status of your remaining escrow overage. We advised you they were mailed to you on July 21, 2022.On August 5, 2022, you called our office back and advised our **************** associate that you still had not yet received this check and you now want us to stop pay and wire these funds back to you. We advised that we would do that however there is $25 fee associated with the wiring of funds. Because you did not authorize us to charge this amount, this was not completed.Subsequently, our **************** team, with my approval, agreed to waive the fee and wire these dollars back to you. When a complaint includes the type of negative commentary you included in yours, I personally review it. Please know that in reviewing the entire body of work carried out by Midwest Loan Services, I could not find any wrongdoing on our part. Should you have any further inquiries regarding your paid off loan, do not hesitate to contact our **************** Department.Regards, ************************, CMB President * ***
Midwest Loan Services is NOT a BBB Accredited Business.
To become accredited, a business must agree to BBB Standards for Trust and pass BBB's vetting process.
Why choose a BBB Accredited 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. BBB charges a fee for BBB Accreditation. This fee supports BBB's efforts to fulfill its mission of advancing marketplace trust.