ComplaintsforCardinal Financial Company, Limited Partnership

• Initial Complaint

  02/21/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  We are closing on a loan for a house and we are supposed to be closing on the 23rd of February which is now less than 3 days away and we still have yet to receive a final closing disclosure with the correct amount and the lender has charged us more than we were supposed to be charged for appraisal fees

  

  Business response

  02/28/2024

  Hello,

  Please find attached Cardinal Financial's response to BBB case number 21323439.

  Best regards,

• Initial Complaint

  02/20/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  The reason we used Cardinal Financial for our mortgage is because they had a loan recast option and we needed to remodel our old house before selling it. We were told several times that we could re cast our loan payment when the old house sold and that this would remove *** from our payments. 7 Months after we got our home loan with cardinal, we sold our old home and paid $167,000 towards our mortgage putting our mortgage loan to valve at 40% of the appraised valve well below the 80% required to remove ***. They will not remove the *** from our payments, and we have been fighting with them for months to get it removed. They are now telling us we must pay them for another appraisal (they just appraised the home when we got the property in July). They are stating they need another appraisal to verify that the loan to valve ratio is under the 80% ***** (It is at 40% according to the appraisal they just did in July). On top of this they are now telling us our loan payment cannot be recast and with no reason why. We have spent hours and hours on the phone being transferred from department to department with no answers. We have sent emails with the same generic responses that our loan is not eligible for a recast at this time with no explanation why or what needs to be done. We have sent faxes and received letters back with the same generic response. I have been transferred to another 3rd party company DMI and Special Loans Departments and everyone just transfers me around saying someone else should be able to tell me what is going on. I have been on the phone with cardinal over 20 times now for several hours at a time and still have no answers as to why they can't re cast the loan and the *** still has not been removed even though they just appraised the house.

  

  Business response

  03/04/2024

  Please see attached business response. 

  Customer response

  03/04/2024

   
  I am rejecting this response because:
  All it is is a letter saying they would look into it and will respond by the 12th. I will let you know if problem has been resolved by then. 

• Initial Complaint

  02/09/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  We have a mortgage with Cardinal Financial that is managed by the ***********, ** office. We moved from the residence in October 2023 but still own our home. I was able to update our homeowners policy with Cardinal via email and all went well. However, I have been unable to get the company to change our mailing address to our new address. I have followed their instructions and submitted the appropriate paperwork in writing to make the change at least 5 times over the past 4 months. Approximately every 2 weeks I receive the same letter (at my new/current address) indicating it is critical that I follow the steps again to update my address. There is either a completely incompetent process in the *************************** or someone is intentionally harassing us. I would like for this to be corrected so that I will stop receiving these letters. I would like for Cardinal to confirm that they have my correct address on file. I will be moving in the future/prior to the mortgage being paid off and do not want to have to go through this process more than once.

  

  Business response

  02/22/2024

  Hello,

  Please find attached Cardinal Financial's response to BBB case number 31368705.

  Best regards,

• Initial Complaint

  02/05/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  HI, i have a complaint against Cardinal Financial Company, i don't believe i was treated fairly and I'm sure there are laws, bills, codes like Title ****************************** On March of 2023, my home mortgage went in default, my father passed away and i had to apply for the hardship program. On May 10, 2023, the loss mitigation department received my application package back, and i was notified by phone, by a Cardinal financial representative that: "This wont hurt your credit, as long as you are in ************************** you don't have to make mortgage payments until a decision has been reached, it wont be reported to your credit report, it's like we freeze your account until then". I said ok and went on about my life. The next letter i received from them was on August 18, 2023 explaining that "i did not respond to them within 14 days and i no longer qualified for any other option but one" which was the partial claim. Cardinal and i both have these communication records but they failed to send me a notice, letter within that time frame giving me those other options. On August 28, ********************************************************************* that my credit would not be affected after the date i went into review with the loss mitigation department. Received a letter saying my payments would resume on October 01, 2023, but in September they sold my loan to another company, then they reported to my credit report as "Missed May, June, July, and August and in September they closed my account with all of those missed payments" I've tried to resolve it with them but they keep saying they no longer have access to my account, its no longer theirs. Im sure there's an Act, Code, somewhere that can resolve this issue with either correcting it or deleting the account completely from my credit report if not accurate. I would very much appreciate if you could help me in any way, this is hurting my ability to obtain credit and financially help my family. Thank you

  

  Business response

  02/20/2024

  Please see attached response from the business. 

  Customer response

  02/24/2024

   
  I am rejecting this response because: the issue was not resolved. When I entered the loan mitigation process with cardinal financial I was only 30 days past due on my account, during this process they sold my account to another ********************************************* and left me with a 120+ missed/late payment account. I request that it either be deleted from all 3 credit reports, or make corrections to it to only 30 days late and 120+. All of our conversations were recorded, they should have a confirmation that it would not have affected my credit. I cant even get a $500.00 credit card, besides the 580 credit score, lenders see me as extreme high risk because of what cardinal financial did to my credit report. ************* a new HVAC system, no company will work with me because of those 120+ late payment, Cardinal financial should give me a loan to get that HVAC system at a decent rate since theyre the reason why I cant get a loan anywhere else. Thank you!
  
  

  

  Business response

  02/29/2024

  Please see attached business responses.

• Initial Complaint

  01/31/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Cardinal is a terrible company almost my insurance was canceled because Cardinal does not make the payments. I explained I have another mortgage and I would like to change just the day to make the payments. It is a answer I got I do see that you are enrolled into auto payments on the first of every month. At this time, you can set up automatic payments with up to 5 delay days following the payment due date. As such, the latest draft date available is the 6th of each month, or the next business day if this draft date falls on a weekend or holiday. This is a system limitation and we are not able to modify it at this time. I am sorry for any inconvenience or confusion this may cause.I do apologize, but I am not able to change the due date of your monthly payment. Per your signed Note, payments are due on the first of the month with a 15-day grace ****** following the payment due date. If an outstanding monthly payment is not received by the end of business hours on the 16th of the month, or the following business day if the 16th is on a weekend or holiday, a late charge will be assessed.You may submit a written dispute to our ******************* at one of the following:Mail Stop ************************************************************************************************** Fax Number: ************** Email: **************************************************** Please include your loan number on your inquiry, and enclose all relevant supporting documentation available to you. This information will disappear when this chat has ended. As such, you may wish to copy anything you would like to reference in the future.

  

  Business response

  02/14/2024

  Hello,

  Please find attached Cardinal Financial's response to BBB Case number 21225574.

  Best regards,

• Initial Complaint

  12/20/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  We have attempted to settle this matter with the internal research department but have received no response. **** # ********** We bought a home through cardinal on 08/31/23 and were told our first payment was due 10/01/23. In September we received a letter dated 09/19/23 informing us of a loan transfer and telling us to make all future payments to the new servicer, ********** We recognize there was a typo with the year (****) but otherwise accepted the document as fact. On 10/02/23 at 9:14am we called Cardinal, after speaking to ********** because ********* told us we could not pay them. Cardinal told us at this time we had a zero balance and did not owe any money. Even though Cardinal is now denying it being apart of our file. As a result, no payment was made for the month of October as neither loan servicer agreed to accept payment. Since then we have received inaccurate bills from Cardinal and loss mitigation correspondence. We have paid our mortgage to **** care on 11/01/23 and are in good standing with them. I spoke to a ********* #WCK in the collections department and tried to come up with a solution for this problem, that Cardinal caused, but she refused to accept any payments beyond a payment in full. Cardinal failed to collect the Oct 1st payment when it was offered to you and has since failed to send accurate documentation reflecting our balance. Cardinal misrepresented our loan transfer date and now ******* stated she sees no record of the original letter dated 09/19/23. Cardinal has threatened to make a delinquent report to our credit bureau which we intend on disputing. We are willing to make payments towards the October payment, but cant pay it in full. We are also willing to have this amount added to the back of our current loan. However we feel because Cardinal has made such grievance errors in dealing with our account the debt should be waived and any delinquent reports made should be rescinded.

  

  Business response

  01/02/2024

  Hello,

  Please find attached Cardinal Financial's response to BBB case number 21034924.

  Best regards,

  Customer response

  02/21/2024

   
  I am rejecting this response because:

   

  We bought a house with Cardinal in September 2023. Soon after, they transferred our loan to ********** On Oct. 1st, 2023, we attempted to make our first payment to Cardinal, and they refused to accept it. Our Loan was transferred and we began making payments to our new servicer. Cardinal then began contacting us through their collections department. I filed a BBB complaint at that time. I was finally informed the representative we spoke to on Oct. 1st mistakenly told us a payment was not due because we apparently had two loans, and only 1 had a payment due. We were never told about the two loans until after the BBB complaint. However throughout the process, the representative from Cardinal named ***** who was supposed to be helping us stopped returning my calls and never gave me a resolution to the issue. Throughout this whole time Cardinal refused to accept payments towards the reported debt. Now, on Feb 1st 2024 Cardinal has made a delinquent credit report for this debt. Again, we called today to pay this debt and Cardinal again has refused to accept payment. It was stated our loan was officially transferred on Jan 30 2024 preventing them from accepting payment. Why did Cardinal report this debt to our credit and then refuse to accept this payment? Why did ***** refuse to resolve the last BBB complaint? I want the delinquent credit report retracted immediately.

   

  Correction to a credit report
  

  
  

  

  Business response

  02/28/2024

  Hello,

  Please find Cardinal Financial's response to the BBB Rebuttal Case 21034924.

  Best regards,

• Initial Complaint

  11/21/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  We are trying to make principal curtailment payment on October 24th, and it was rejected by the bank with a vague reason " need to validate the name". Even though we have confirmed all the wiring details with the Cardinal before proceeding. we made several calls for inquiry and was told to wait for 20 business days in order for them to resolve the issue. On Nov 6th, we called again and was told that there should be result on Nov 17th, but then no one called to offer the result. Every time we tried to wire payment to them, they charged us a fee for the wiring process. They need to refund us the wiring fee given that it is their fault in this situation.

  

  Business response

  12/01/2023

  Hello,

  Please find attached Cardinal Financial's response to BBB case number 20900805.

  Thank you,

• Initial Complaint

  10/03/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Our home mortgage (**********) was being serviced by Cardinal Financial, prior to it being sold to another lender in August 2023. During this time my husband, a 100% total and permanent disabled Veteran, lost his job due to Covid and we had to go into forbearance in February 2023. While in loss mitigation, Cardinal reported a negative hit to our credit 4 times, despite the fact that this is federally protected during the forbearance period. This was particularly frustrating because we were in the process of trying to come out of forbearance and exploring other options when our credit scores were so low, was near impossible. Each time we would call Cardinal to ask for this to be resolved it would take weeks. Even though this was the fault of Cardinal, our case was never escalated or expedited and every time we would call we would be told that we would simply have to wait. We did not know our loan was being sold to another lender until it was already with the new company and now we are having to start the loss mitigation **************** again. But once again, Cardinal's ******************* reported a negative hit to our credit right as the loan was sold and to this day has not removed this from our credit report. I just spoke to someone at Cardinal for the third time and begged to be transferred to a supervisor in the ******************* or have my issue escalated and was told, again, that there was nothing they could do and I would have to wait.

  

  Business response

  10/13/2023

  Hello,

  Please find attached Cardinal Financial's response to BBB case number 20685226.

  Thank you,

• Initial Complaint

  10/02/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Our home was lost in a fire 8/1/23 We received a total lost insurance claim check in the amount of 192k When we tried to cash the check it was rejected because CF needed to endorse the check as well.We paid $68 to have the check sent overnight to the company they received the check between 8/24/23 - 8/28/23 ( doc. 1 proving they had the funds and allocated it)(They record phone calls)Against my wishes they applied the funds into escrow. ( trying to force us into rebuilding ) The initial pay off statement was good until 8/28/23 When we spoke with them again on 9/7/23 (Not knowing what had transpired because that was not the discussion that was had)They informed us of what they did and that we needed to send a written letter stating what we initially wanted done ( payoff mortgage) they then said it would take **** business days 10/2/23 we have yet to receive the remaining balance of the insurance claim and the mortgage has not been paid off When we call and spoke with several different departments in a span of 3 hours The representative would only state I can not advise We are being forced to pay an additional mortgage for the month of September plus interest fee daily estimating total of $1366 On top of emotional distress of not being able to move forward with our lives The original payoff statement was from 8/14/23 when we first initiated the payoff the company told us we need to request this form to pay off the mortgage We want to settle for the original payoff amount $158, ****** And not be forced to pay for September ( because it should have been paid off )And to be sure the September payment dont affect my credit

  

  Business response

  10/16/2023

  Hello,

  Please find attached Cardinal Financial's response to BBB case number 20684873.

  Thank you,

• Initial Complaint

  10/02/2023

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  For the past, 2-3 months I have requested for my billing statement to be sent to my personal home address. Ive received copy of the August statement dated August 1, 2023 (due on September 1, 2023) on September 30th. I dont have access to my email address so Im forced to use the companys pay by phone service. This service costs $ **** per use.Im requesting my billing statements to mailed to via the postal service.

  

  Business response

  10/11/2023

  Hello,

  Please find attached Cardinal Financial's response to BBB Case number 20682012.

  Thank you,

  Cardinal Financial Consumer Advocacy Team
  Cardinal Financial Company, Limited Partnership | NMLS 66247
  ********************************************************************************-7204
  *******************************************

   

*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. ↩