ComplaintsforNutter Home Loans

• Initial Complaint

  08/11/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I have been with James B Nutter since 2004 after I bought my very first house. My parents have had James B Nutter for over 30 years now and since they had no issues, when I had to refinance away from the builder’s mortgage company, of course I went with them. For 18 years I paid on that house, never missed a payment. Never had any issues. This year my husband and I sold that house and bought a new one. Of course, since we have had great service with James B Nutter, we stayed with them, even though we actually could have gotten a slightly better rate with someone else. I like to stay loyal to companies who have proven themselves. This week, a week after closing, I get a phone call from a woman with a heavy accent that I can barely understand. She states that my mortgage company, doesn’t name it, sold my mortgage to them at ****** ******* and I need to pay her. We all get the calls from those with foreign accents trying to defraud us, so I laughed and said, “My mortgage company would never sell my business. They never informed me they were, and I can’t see them selling out a 20 year customer with no notice. You’re a fraud” and I hung up. I then called James B Nutter to see if they know of any scams going on. To my shock I am told that yeah they sold my mortgage to another company. No they didn’t let me know at any point in the process of this loan that it would be a possibility and someone would call me. No call….. So I e mail ***** ******. He confirms yes, they sold my mortgage, they do not care if I am unhappy or was a loyal customer for 20 years, it is what it is. So I want to warn people, do not use James B Nutter. Nothing is worse than standing by a company and being loyal for 20 years and then being told basically * *** and we sold your mortgage to a company that has multiple class action suits

  Business response

  08/25/2022

  Dear Mr. ******,
  
  Please consider this to be the response of James B. Nutter & Company (the “Company”)
  to the complaint filed with your office on August 11, 2022. In the complaint, a borrower expressed
  concern that after closing on their loan, it was sold to “****** *******.” Additionally, the borrower
  claimed that they were not made aware of the loan being sold, until they received a telephone call
  from the new mortgage company. The borrower expressed the belief that because they had been
  long-term customers, the loan should not have been sold without their knowledge and consent.
  After reviewing the complaint, the Company is providing this response.
  
  To begin, it is standard practice in the mortgage industry to sell loans that have closed to
  other financial institutions. By selling mortgages, lenders have the ability to continue making and
  funding more home loans. The Company wants to state that if a loan is sold, this is not a negative
  reflection on the borrower or their payment history. Additionally, in the case of this borrower,
  both the Company and ****** **** ******* sent them a letter, informing them of the change in
  servicer. The notice also provides them with the contact information for the new servicer and
  where to send their monthly mortgage payments. While the Company appreciates their business
  and empathizes with their concern, it regrets to inform them that the loan will remain will ****** **** *******.
  
  Please know that James B. Nutter & Company places a high priority on handling consumer
  complaints, and we thank you for allowing us the opportunity to respond. If you have any further
  questions please do not hesitate to contact ***** ****** ** ***** ******** or via email
  ******************************** and he will be happy to speak with you.
  

  
  

  Customer response

  08/26/2022

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Assumed Answered]
  
  Complaint: ********
  
  I am rejecting this response because:
  
  Regards,
  
  ***** ****  

  Please review the attached letter.  No, I was not notified by James B Nutter of my loan being sold.  In fact in my e mails with ***** ******, in his prior 23 years James B Nutter has not sold their mortgages.

   

  From: ******* ****** ************************************ 
  Sent: Wednesday, August 10, 2022 5:04 PM
  To: ***** ***** ******************************
  Subject: Re: [Email originated outside **** *** ******* *******
  
  Ms. ****,
  
  I apologize.  I heard that you had called and were upset upon learning that your loan was sold to ****** **** *******, but was not told that you were expecting to be contacted by me.  For the previous 23 years that I have worked for Nutter Home Loans, we have not sold any loans to other companies.  Unfortunately, this year due to the volatility in mortgage rates starting at the end of February/beginning of March, a hard decision was made by upper management that for Nutter Home Loans to remain viable that we had to sell some of our loans that we were closing.  We had to do this because the rates we were offering at application had increased so much by closing that we were losing money on almost all loans that we closed for a period of time. 
  
  The origination department doesn't know upfront whether a loan is going to be sold or not, that decision is made after the loan is closed.  Unfortunately, your loan fit into the criteria established by upper management as a loan that we needed to sell.
  
  Regarding the phone call, I am unsure as to why they called you so quickly.  We didn't sell the loan to ****** **** ******* (***) until 8/8, we hadn't even had time to get the letter stating that we had done this out to you.  You will also be receiving a letter from *** shortly explaining that your loan is now with them.
  
  I know this explanation doesn't make it any better or lessen any anger that you may have towards Nutter, but I just wanted to explain why the decision was made this year to sell some of the loans that we are closing. 
  
  Thank you,
  
  

  ***** ******

  Attached is also the letter from James B Nutter advising they sold my mortgage to JAMES B NUTTER.  So an all around crappy way to handle a treat a 20 year customer.

  I will continue to leave reviews and do my part to keep people informed not to use James B Nutter.

  Business response

  09/02/2022

  James B. Nutter & Company's response has been uploaded.  

  Please consider this to be the response of James B. Nutter & Company (the “Company”)
  to the follow-up complaint filed by the borrower on August 29, 2022. The borrower made an
  initial complaint on August 11, 2022, in which they expressed dissatisfaction with their loan being
  sold to another lender. In turn, a response was sent on August 25, 2022, in which the Company
  gave details regarding the sale. However, the borrower rejected the response, and in a second
  complaint included an email from Mr. ******* ******, the Director of Loan Originations, sent to
  the borrower after the sale was completed. After reviewing this second complaint, the Company
  is providing this response.
  
  As stated above, with the second complaint, the borrower provided an email sent to them
  on August 10, 202. In it, Mr. ****** wrote that it had not been the Company’s practice to sell
  loans after closing. However, both Mr. ******** email and the Company’s initial response both
  indicate that loans are sold after closing, in order to provide funds to lenders, so they can continue
  originating home loans. Additionally, Mr. ****** wrote that the decision to sell the loan occurred
  after it had closed, and this why she was not informed of the action, during the loan application
  process. The email also stated that the Company sent the borrower a letter, informing her of the
  sale, and that ****** **** ******* would also be sending one. The Company regrets that the
  letter came after the sale, and will follow up to see if this type of information can be provided to
  borrowers in a timelier manner.
  
  Even though the Company did not act inappropriately when it sold the loan to ****** **** ******** it does regret any undue anxiety or stress the sale may have caused them. As stated in the
  previous response, the selling of loans after they have closed is not a negative reflection on any
  borrower, nor does it mean the Company does not or did not appreciate their business. The
  Company wants to state that it thoroughly vetted ****** **** ******* to ensure that it follows
  all investor guidelines for loan servicing. While the borrower would like her loan to be bought
  back from ****** **** *******, the Company regrets to inform them that the loan will remain
  with their current servicer.
  
  Please know that James B. Nutter & Company places a high priority on handling consumer
  complaints, and we thank you for allowing us the opportunity to respond. If you have any further
  questions please do not hesitate to contact ***** ****** ** ***** ******** or via email
  ******************************** and he will be happy to speak with you.

• Initial Complaint

  01/31/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I have repeatdely asked them to stop, yet this predatory business continues to send me junk mail. NO MORE MAIL FROM THEM!

  Business response

  02/11/2022

  Please the response from Nutter Home Loans. 

  Please consider this to be the response of James B Nutter & Company (the “Company”) to the
  complaint filed with your office on February 1, 2022. In the complaint, ***** **** wrote that after
  requesting multiple times, he continued to receive unsolicited mailings. As such, they requested that the
  Company cease any further communications to him. After reviewing this complaint, the Company is
  providing this response.
  
  On February 1, 2022, the Company complied with the request and added ***** *****s name,
  property address, telephone number, and electronic mailing address (as listed in the request), to the
  Company’s opt-out database. The Company regrets any inconvenience these mailings may have caused,
  and will review its opt-out policy to ensure that requests are being processed in a timely manner.
  Additionally, the Company wants to state that in its business practices, it follows all federal and state
  regulations and has an A+ rating with the Better Business Bureau of Kansas City.
  
  Please know that James B. Nutter & Company places a high priority on handling consumer
  complaints, and we thank you for allowing us the opportunity to respond. If you have any further questions
  please do not hesitate to contact ***** ****** at ***** ******** or via email
  ********************************.

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