ComplaintsforVillage Capital & Investment, LLC

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Initial Complaint
02/26/2024
Complaint Type:
Service or Repair Issues
Status:
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.
Reference Loan Number: **********. We paid $4,134.60 taxes on our property (address above) to the Hillsborough County ******* Tax Collector on 11/07/2023 for Acct #: ***********. ********************************************* also paid the taxes on 11/13/2023. The county refunded the overpayment to Village Capital on 12/26/2023. Numerous requests to ***********************, our Wholesale Sales Assistant, for Village Capital to refund the overpayment to us has been totally unsuccessful. He refused to escalate our request for a refund and would not give us the name of a manager or his manager, stating he did not have a supervisor or manager, to assist us in obtaining our refund of the tax overpayment. WE have been trying for two months to have Village Capital to refund our tax overpayment without any success. They owe us $4,134.60 plus interest.
Business response
03/06/2024
We are in receipt of your correspondence addressed to the Better Business Bureau Complaint, dated 02/26/2024. You stated that Village Capital & Investment LLC had withheld funds from a refund provided by your county. Village Capital & Investment LLC disputes all claims of withholding your tax refund stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

Village Capital & Investment verified that by the time our corporate office received the forwarded check from our tax vender ******, the process for your payoff had already begun. The tax refund was received on 12/26/2023. With any refund checks forwarded or sent to Village Capital, we cash the funds out and redisburse them under our own check to allow easier tracking of the refund. During the time we were about to disburse the funds, a payoff shortage was discovered so the funds were utilized in order to help finalize the payoff statement in a timely manner. After payment of the payoff shortage the remaining balance left to disburse was $3,497.16. Stated under the **** Regulation X, code *******, funds are provided and sent back to the borrower within 20 days excluding legal public holidays, Saturdays, and Sundays after the loan has been paid in full.

We made sure we worked closely with our ***************** to receive all the proper information regarding the refund. We received notice that the check was mailed out via ***** on 02/27/2024 in the amount of $3,497.16 and verified it was delivered on 02/28/2024.

We believe that this response fully addresses the concerns outlined in your Better Business Bureau Complaint correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.

Customer response
03/11/2024

Complaint: 21349892

I am rejecting this response because: Village Capital has not provided any documentation regarding how they determined we should not receive a full refund for the overpayment. There was no short sale so their should not have been a shortage. We refinanced the loan with VC on 31 Jan 2024 but they have not provided us any of the closing documents or a escrow statement regarding disbursing of funds.

Sincerely,

***********************
Business response
03/18/2024
We are in receipt of your correspondence addressed to the Better Business Bureau Rebuttal, dated 03/11/2024. You stated that Village Capital & Investment LLC did not provide documentation in regards to why your full escrow payment was not received. Village Capital & Investment LLC disputes all claims of lack of documentation stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

During the refinancing period, an escrow shortage was identified while finalizing the payoff. Upon investigation, it was determined that an overdraft occurred in the escrow account during the re-disbursement of funds returned by your county due to overpaid taxes. Upon receipt of the refund, it was credited back to your escrow account, elevating the balance from -$1,413.59 to $2,721.01. However, during the re-disbursement process, our cash department notified us of an overdraft resulting from the refund, leading to the discovery of an escrow shortage amounting to $1,091.34. Only $637.44 of the refund was utilized to address this shortage, resulting in a revised escrow refund of $3,497.16 from the initial $4,134.60.

As previously stated under the **** Regulation X, code *******, funds are provided and sent back to the borrower within 20 days excluding legal public holidays, Saturdays, and Sundays after the loan has been paid in full. Upon verification, it has been confirmed that the check was dispatched via ***** on 02/27/2024. Additionally, we have enclosed your Short Year Escrow Analysis statement, issued upon the completion of refinancing, along with a comprehensive copy of your escrow payment history dating back to November 2023.

We believe that this response fully addresses the concerns outlined in your Better Business Bureau Rebuttal correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.
Customer response
04/02/2024
Village Capital has never responded to our requests for them to explain various entries on our Escrow account transactions log such as: 1. What is the entry on the Current History Transactions form of $1,411.01 for partial settlement on foreclosed loan? (our loan was refinanced not foreclosed) 2. Why was $130.00 per month Service fee charged and not authorized by us or even notified us they were charging us each month? 3. Where is the entry on the Current History Transaction form for the $637.44 entry for the difference in the Tax overpayment of $4,134.60 and refunded to Village Capital and the $3,497.16, they refunded to us? 4. What is the $1,091.34 entry on the Transaction log coded as "Special reimbursement of Escrow advance funds"?
Numerous requests to Village Capital to provide us a complete copy of each document we signed at closing on 31 Jan 2024 have never been provided (as of 2 April 2024) and met with their employees refusing to take our calls or not respond to our email requests. They have instructed their employees not to talk to us. Our loan coordinator even refuses to respond to our inquiries and calls. A complete and thorough audit of our Escrow account by an independent agent is warranted. They will never admit or concede they have treated us unfairly and maybe illegally. They never provided us a final copy of the loan estimate and closing document/disclosure within three days of our application and closing document/disclosure within three business days before the actual closing date as required by Consumer ************************* (CFPB).
Business response
04/11/2024
We are in receipt of your correspondence addressed to the Better Business Bureau (BBB), dated 04/01/2024. You stated that Village Capital & Investment LLC is not providing you with your full escrow refund. Village Capital & Investment LLC disputes all claims of withholding funds and unfair practices stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

After thoroughly investigating your account, we confirmed the receipt of your tax refund by Village Capital & Investment on December 26th, 2023. For efficient tracking, refund checks are cashed and then reissued by us. At the time of receiving your refund, your escrow analysis showed a shortage of $3,173.80, which you opted to apply towards your payment. Consequently, this left your current escrow balance at a -$1,091.34. Upon adding the refund to your escrow account, the balance became positive at $2,721.01. However, when $4,134.60 was withdrawn from the escrow for the tax refund, it caused the account to fall to -$1,091.34. Due to this discrepancy being found during the payoff processing, the refund check was voided, and our escrow department provided the check over to our Cash Department.

Ultimately, only $637.44 was utilized to cover the payoff escrow shortage, leaving a remaining amount of $3,497.16 to be redistributed.

In reference to your concerns regarding the partial settlement IAO $1,411.01, the funds utilized in this transaction in no way came from the borrower. The partial settlement reflects on the account only for reporting purposes due to the fact that the payment listed is a payment Village Capital & Investment LLC handles directly with ****** ***. Therefore, the borrower is not involved in managing or responsible for this payment. As for your concerns regarding the Servicing Fee Amount, this amount is directed to the account and to ********************************************* as your lender for providing the needed services and attention to your loan. Attached within you will find the requested closing disclosure.

We believe that this response fully addresses the concerns outlined in your Better Business Bureau (BBB) correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.
Customer response
04/15/2024
Complaint: 21349892

I am rejecting this response because: Each response from Village Capital only restates their previous responses and does not provide documentation to "prove" they have handled our tax refund and escrow account in an acceptable and professional manner. They have apparently informed their employees to not talk with us when we call or answer our emails. Never-the-less, they state in their replies to BBB for us to contact them if we have questions or concerns. After many, many requests, Village Capital has still not provided one sheet/copy of our refinanced loan closing documents executed on 31 Jan 2024. They never provided required by law documentation three days prior to closing. In our account transactions log, an entry logged as a partial settlement of foreclosed loan of $1,411.01 they stated funds were paid to ****** *** and we were not involved in managing or responsible for a payment so why is it logged in our account transactions? Where is the documentation that authorizes a $130 per month service fee? Why $130 per month? Is that an arbitary amount not disclosed at closing? With the amount of interest we pay every month, why are they charging us a service fee? We are grossly overcharged for service they have provided which has been deplorable. We have still not received any documentation from Village Capital regarding the balance of our old loan escrow account. What happened to the money in our old loan escrow account? More questions than answers provided by Village Capital. Why does not someone with authority at Village Capital to resolve this complaint call us and answer our questions and provide industry approved accounting procedures documentation. We do not have unlimited funds to hire an attorney to fight a major corporation with attorney employees, so our only recourse is the BBB, Florida States *********************** or Consumer ************************* and the *********************** to try to and find an acceptaable resolution with Village Capital & Investments. They do not seem to want to find a consumer acceptable solution.

Sincerely,

***********************
Business response
05/16/2024
05/10/2024

COMPLAINT RESPONSE NOTIFICATION

Dear **************************** & ****************************:
We are in receipt of your correspondence addressed to the Better Business Bureau, received on
05/02/2024. You stated that Village Capital & Investment LLC has yet to provide you with
your full escrow tax refund. Village Capital & Investment LLC disputes all claims of
withholding funds and conducting unprofessional practices stated in the contents of the
above referenced complaint. In regards to the complaint escalation, Village Capital & Investment
LLC has determined the following:
As previously communicated to the Better Business Bureau, we received your tax refund on
December 26th, 2023, which was subsequently deposited into your escrow account,
resulting in a positive balance of $2,721.01. Following your request to return the tax refund,
our ***************** withdrew $4,134.60 from the escrow balance account, which
unfortunately brought the escrow account back into a negative balance of -$1,091.34. After
deciding to redistribute the tax refund, our payoff department came forth and advised us of
an escrow shortage discovered during the payoff processing.
Ultimately, the escrow shortage was in the amount -$1,091.34 but only $637.44 was utilized
from the refund, leaving $3,497.16 to be returned to the borrower.
Regarding your inquiry about the transaction labeled as partial settlement for $1,411.01,
it's important to clarify that these funds were not sourced from the borrower. This
transaction is documented solely for administrative purposes, as it involves a payment
handled directly between VCI and ****** ***. Your involvement or responsibility in this
matter is not required. In response to your inquiries regarding the Servicing Fee Amount,

1

as mentioned before these funds are redirected to Village Capital and the loan itself for
providing the necessary services and attention to the account.
Enclosed within is a copy of the closing disclosure that was provided to you at closing.
We believe that this response fully addresses the concerns outlined in your Better Business
Bureau correspondence. If you have any questions concerning this response or require additional
assistance, please contact our *************************** at **************, Monday through
Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.
Sincerely,
Special Servicing Agent
Special Servicing Department
Village Capital & Investment LLC
Customer response
06/03/2024
Village Capital did not satisfy our request for a full refund for a double payment of taxes and their employees would not even communicate with us stating they could not discuss our concerns due to an active investigation. We are not in agreement that they did everything they could to resolve the issue and deal with us in good faith. They have not fully complied with the law and have charged us excessive amounts for servicing our account without prior notification or authorization. I no longer trust them and will refinance our loan as so as possible so that we no longer have to deal with a company that is not trustworthy. Their escrow transactions log is filled with non-essential info not pertaining to our account. They should be investigated by a federal agency that has the power and authority to assess fines for not compliance with federal statutes. They never provided copies of our closing documents three days prior to closing and after numerous requests never provided copies of our closing documents. We had to obtain the closing documents from the settlement company two months after closing. What kind of company willfully disregards legitimate requests from their clients for closing documents??
Business response
06/06/2024
Dear *************************** and ***************************

We have received your correspondence addressed to the Better Business Bureau, dated 6/4/2024. You mentioned that Village Capital & Investment LLC owes you a refund for a double payment of County Taxes. In response to your complaint regarding the funds owed to you.Village Capital & Investment LLC has reviewed the matter and determined the following:

After reviewing your account we notice that when you refinance your loan with Village Capital & Investments, LLC there was a shortage in escrow. We issued a check on 2/26/2024 in the amount of $3,497.16, which is the difference of the $4,134.60 for your County tax refund.

We appreciate the trust you have with Village Capital & Investment, and thank you for refinancing your loan with us.

We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.
Initial Complaint
02/20/2024
Complaint Type:
Customer Service Issues
Status:
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.
This company doesnt return phone calls and the website doesnt work to try and make payments online. The is causing issues that will hit my credit score and it a priority to get payments setup with the company. I have waited on a call for an hour and left messages with no call back to help resolve the issue.
Business response
02/26/2024
We are in receipt of your correspondence addressed to the BBB, dated 02/19/2024. You stated that Village Capital & Investment LLC is not easy to get in contact with . Village Capital & Investment LLC disputes all claims of being difficult to be reached stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

After a thorough investigation, Village Capital & Investment LLC reached out to you on February 12, 2024 and February 15, 2024. Both times voicemails were left. You were again contacted via text message on February 20th, 2024. Two more phone calls were placed to you on February 22, 2024 and February 23, 2024, both times voicemails were left for you.

Multiple phone calls have been placed to you without any returned communication. Village Capital & Investment LLC has multiple ways in which you can make contact with. You can give our *********** a call at ************ which has representatives ready to take your call Monday through Friday 5AM-7PM PST. Village Capital & Investment LLC can also be reached at ******************************************************.

We believe that this response fully addresses the concerns outlined in your BBB correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.
Initial Complaint
02/20/2024
Complaint Type:
Billing Issues
Status:
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.
Village Capital has added a RBP payment of 3 thousand plus and no one at this company can give me an explanation why was this added on all of sudde . This was not part of my initial agreement with my original mortgage company who sold my loan off to village capital. I have been calling with no luck of an explanation or supervisor call back as ****** from VC said. Since moving with this company my mortgage has gone up 307 dollars. I was just approved for my homestead last month and now for my new annual escrow they want to add a RISK BASED PRICING based off what? When did they acknowledge me they were gonna pull my report to add this on to my escrow. I'm always on time with my payment. What was the reason for this to be added on to my contract and where did I'm sign to this. Now I'm short on my escrow wanting me to give them a check of 3k.
Business response
02/26/2024
We are in receipt of your correspondence addressed to the Better Business Bureau Complaint, dated 02/15/2024. You stated that Village Capital & Investment LLC applied mortgage insurance onto your account when transferred over from your previous lender, which caused your monthly payment to increase. Village Capital & Investment LLC disputes all claims of adding mortgage insurance causing an increase in the monthly payment stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

After further investigation, Village Capital & Investments LLC determined that the increase regarding your monthly payment was not caused by mortgage insurance (MI or MIP) but was indeed due to us overpaying for the 2023 taxes disbursement. This year when it came to paying out your taxes, we originally disbursed the amount $11,737.48 since we had yet to verify your tax exemptions for the year 2022 and forward. Your escrow account was scheduled for the annual analysis that is performed to determine whether your escrow account results in an overage or a shortage. This is determined by any increases or decreases there were within your taxes or your homeowners insurance. This year, your escrow analysis resulted in a shortage in the amount of $3,229.45. The minimum required balance needed in your account was at least $3,103.82; your escrow balance at the time of the analysis was -$125.63.

After we verified the tax exemptions, the information was updated and corrected on your monthly payment based on the tax disbursement, which overall ended up being $8,112.60. The county then sends a check back to the borrower with the overpaid funds. We always advise borrowers to place these refunds back into escrow to help bring the balance back up after an overpayment. Whether you chose to place the funds in your escrow is solely your decision in the end, but with the result being a shortage, you have two options of either paying the amount in full or the shortage has already been divided over 12 months and $269.12 has been added to your monthly payment.

Mortgage insurance is required by the *** to protect the account against any losses if the borrower defaults on mortgage payments. Borrowers have the option of requesting for MI to get removed but if the request is denied, mortgage insurance will continue to be placed upon your account until the proper removal requirements are met. Within you will find attached your first payment letter as well as a copy of an escrow analysis provided from Change Mortgage, showing details of MI being paid with them previously as well.

We believe that this response fully addresses the concerns outlined in your Better Business Bureau Complaint correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.

Customer response
03/11/2024
I have reviewed the mailed letter by you and village capital. What I do not understand is why did they add more than 3k to my annual escrow and why name it "RBP" on the estimate. I don't understand how being short ************************* more than 3k the next. Where does this risk-based pricing show on my contract or where in my contract that you mailed to me can I see this explained. I will just pay what I have to pay since I was the one who applied for the homestead thinking this would help my mortgage; yet my mortgage has increase more than 200$ a month since getting sold out to village cap. Thank you.
Business response
03/18/2024
We are in receipt of your correspondence addressed to the Better Business Bureau, dated 03/11/2024. You stated that Village Capital & Investment LLC has applied mortgage
insurance onto your account, which caused your monthly payment to increase. Village Capital & Investment LLC disputes all claims of adding mortgage insurance causing an increase in the monthly payment stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

Upon thorough review, it has come to our attention that mortgage insurance (MIP/MI/RBP) was previously handled by your former lender and has since been transferred to Village Capital & Investments. This year, a shortage of $3,229.45 has been identified. Each escrow account maintains a minimum required balance to address potential shortages, as observed during our analysis. At the time of assessment, your escrow balance was -$125.63, falling below the required minimum balance of $3,103.82. The shortage was calculated by subtracting the required balance from the reflected amount, resulting in a deficit of -$3,229.45. This shortage is attributed to a refund issued by the county due to an overpayment in taxes. While we recommend depositing such refunds into the escrow account to rectify negative balances, the decision ultimately lies with the borrower.

In cases where refunds from either the county or homeowners insurance result in a negative balance in the escrow account, we advise depositing the funds back into the account. However, the borrower retains the freedom to decide how to utilize these funds. Escrow shortages can be addressed by either paying them in full or spreading the amount over 12 months to ensure it is settled before the next annual analysis, conducted in January. We have provided both your Short Year Escrow Analysis statement, detailing payments made through escrow with your previous lender, and a recent escrow analysis from us, reflecting the same payment amounts.

We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.
Initial Complaint
02/15/2024
Complaint Type:
Service or Repair Issues
Status:
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.
In April of last year, my loan that closed in March was transferred to a loan servicer along with my escrow balance. I made 1 payment to the first servicer which included escrow dollars. They made a tax payment. In May of last year, Village Capital became my loan servicer. I made my payment which included escrow dollars in May, and Village Capital says they paid a tax payment in May and August. (This would have been 3 tax payments made in 2023) In January 2024, I noticed my mortgage payment was going up $300+ per month and I called Village Capital. They said it was because of a $3700 escrow shortage. My taxes went up $300 per year ($25/month) and my insurance did not go up at all. There should not have been a $3700 escrow shortage. The tax office says there were only 2 payments made and they would have returned the 3rd payment. Village said I should contact the previous servicers which I've done. I have not had anyone from Village call me to address this issue. When I call, I'm on an extremely long hold, I'm told no supervisor or escrow person is available and I have to wait for a call back which has not come since I was told to reach out to the previous servicers. This issue was identified to Village January 29 and I am still waiting. When I call in and finally do get an answer, even though there are notes in the system from the previous calls, the person taking the call is not helpful, telling me what I've already been told, says no one can get on the phone to help me and I have to wait. Today **** was extremely rude on the phone telling me other people were ahead of me and I need to wait my turn. I'm frustrated with the lack of response, have a high deal of anxiety regarding my mortgage payments and how my money is being handled and accounted for and would like this issue resolved immediately. Thank you!
Customer response
02/19/2024
According to *** Mortgage's Accountant, the *** made my first 2023 tax payment on 5/5/23. Then forwarded my remaining escrow of $2254.91 to Village Capital. Village Capital is saying they made 2 tax payments but according to my county clerk, the second payment Village Capital made would have been returned. The escrow shortage that they are claiming and charging to me by raising my mortgage payments is not accurate. I have received statements from both of the previous mortgage servicers substantiating this information but have received nothing from Village Capital.
I have called in to Village Capital, they advised me to contact the previous mortgage servicer which I have done. I continue to call Village Capital and am told to wait for someone to call me back which has not happened since February 5,2024.

Business response
02/26/2024
We are in receipt of your correspondence addressed to the BBB, dated 02/15/2024. You stated that Village Capital & Investment LLC has incorrectly calculated the funds in your escrow account. ********************************************* & Investment LLC disputes all claims of mishandling your escrow account stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:
After investigating, an analysis was run on your escrow account on January 17, **************************************************************************************************************************************** the amount of $3,746.53. That shortage amount was then taken and divided up by 12, reflecting an increase of monthly payments in the amount of $312.21, which would have brought your new monthly obligation to $2,954.87. This is done so that your account balance is not under the minimum required balance.
On March 23, 2023 you signed your Closing Disclosure, which states that Your property costs may change and, as a result, your escrow payment may change. Furthermore, the Initial Escrow Disclosure Letter states that This is an estimate of activity in your escrow account during the coming year based on payments anticipated to be made from your account. These documents have been enclosed for your review.
A property tax refund was received on February 16, 2024 in the amount of $3,176.57 and was applied to your escrow account, along with a 24 month extension that was applied to your monthly payment resulting in a new monthly obligation payment in the amount of $2,690.16.
Please be advised that your property taxes and insurance premiums can change from year to year. Your escrow paymentand with it, your total monthly payment will change accordingly.
We believe that this response fully addresses the concerns outlined in your BBB correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.

Customer response
02/26/2024

Complaint: 21298718

I am rejecting this response because: IT IS ALL LIES! What actually happened is you (Village Capital) didn't receive all of my escrow as detailed in the closing documents. Instead of following up to understand why, you attempted to make 2 tax payments, 1 of which was rejected by my tax assessor. The funds from that rejected check were not returned to my escrow account. 5 months later when you performed an escrow analysis, you determined the escrow would be short even though my taxes only went up 25 dollars per month and my insurance didn't increase. You did not investigate the reason for the shortfall and instead took the easy path to customer dissatisfaction and increased my payment. After 4 weeks of my due diligence, my escrow has been restored and my payment reduced accordingly so that I'm only paying for the additional tax increase and not the 300+ per month that your analysis predicted to cover the non existent shortfall.

Sincerely and done with you ASAP,

***********************
Business response
02/29/2024
We are in receipt of your correspondence addressed to the BBB, dated 02/26/2024. You stated that Village Capital & Investment LLC has misplaced funds in your escrow account. ********************************************* & Investment LLC disputes all claims of mishandling your escrow account stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

After conducting an investigation, we found that when your loan was processed, it was based on the assumption that taxes were to be disbursed in May 2023, in the amount of $3,005.58. Your previous servicer, **** ended up paying out those taxes. As a result, there was a shortfall, and an escrow disbursement of $170.99 was made on May 15, 2023 to cover the difference. A copy of your escrow disclosure statement is enclosed so that you can see these amounts reflected.

Due to the event of your previous servicer paying out your taxes, your loan was boarded with the escrow account in the amount of $2,425.90. When your escrow analysis was run, it was predicted that your account would fall below the minimum required balance. That shortage amount is taken and divided by 12, reflecting an increase in your monthly obligation payment. This is done so that your account does not fall below the minimum required balance. A property tax refund check was received after your analysis was run, and was disbursed back into your escrow account. Your new monthly obligation payments have been updated to reflect this.

We believe that this response fully addresses the concerns outlined in your BBB correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.

Customer response
03/04/2024
Is there a way to close this case out without accepting the response from the Business? How will this display to the public? Will they be able to see the original case details and my response to the first reply from the business?
Customer response
03/04/2024

Complaint: 21298718

I am rejecting this response because: Is there a way to close this case out without accepting the response from the Business? How will this display to the public? Will they be able to see the original case details and my response to the first reply from the business?

Sincerely,

***********************
Initial Complaint
02/15/2024
Complaint Type:
Service or Repair Issues
Status:
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.
This is my 3rd time having to dispute to the credit bureau after Village Capital falsely reporting to the credit bureau the status of my account and them later correcting it. They have put my funds in suspense several times after paying by ACH instead of applying them to my loan after receiving them causing false reports and extra late fees. They only accept mailed forms of payment or ****** sent my check in on FEB 2nd 2024 by two day priority mail through **** to the pay by mail address on the billing statement. They require you send it to a PO BOX that they dont not regularly check also causing extra late fees. They are scamming consumers in every way they can. I asked them to put in a task to search for my check and was told it takes 3 business days. They told me they dont process task on Friday so its actually 4 business days. It has now been 14 days and I have not received an update. Their call times to speak to someone is *************************************************************************************************** anyway. Im exhausted with Village capital and their consumer negligence and fraudulent late fees. They should be closed down. This company is a nightmare.
Business response
02/26/2024
We are in receipt of your correspondence addressed to the Better Business Bureau, dated 02/15/2024. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

Payment for February 2024 has been received and marked as paid, you are currently due for the month of March.

Payment for November 2023 was satisfied on 12/05/2023 marking it ***** days delinquent.

We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.

Customer response
02/26/2024

Complaint: 21298100

I am rejecting this response because: Date in portal reflects the wrong payment date for Januarys payment. I have filed a dispute with the credit bureau and received a follow up stating it was found Village capital made a mistake and put the wrong date. Village capital also removed my fixed rate in the remarks section of my credit report and will not respond when asked to correct it. My loan has not changed or been refinanced and remains a fixed rate according to my contract. This needs to be corrected as well as the correct payment date for my January payment. Also, a check was mailed February 2nd to the ** BOX listed on the monthly statement to pay by mail. It was not picked up from the ** BOX (WHICH IS IN ** BUT THE COMPANY IS IN NV) until the 20th causing another late fee. They do not check the ** BOX regularly causing many consumers monthly late fees. They do not have a physical address in NV where you can send a check to be signed for. This company is a predatory lender. I currently have 3 letters after filing disputes of them falsely reporting due to them holding funds in suspense and not applying them to the account after being directed to. Also BE AWARE THEY DO NOT COMPLETE ANY TASKS FILED ON FRIDAYS! I was told by customer service they dont consider Friday a business day.

Sincerely,

*****************************
Business response
03/04/2024
We are in receipt of your correspondence addressed to the Better Business Bureau, dated February 27, 2024. You stated that Village Capital & Investment LLC has failed to apply your mortgage payment and falsely reported information to the credit bureaus. Village Capital & Investment LLC disputes all claims of failing to apply mortgage payments and inaccurate credit reporting stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

After reviewing the activity and notes on the account, we have found that Village Capital & Investment LLC has had multiple phone calls with you. During these calls, it was explained that in order to fully research the checks you've mailed, it would be helpful to have the check number and the location it was mailed to. However, on these occasions, you either disconnected the call with customer service or became verbally abusive, leading to the call being disconnected.

You mentioned that we only allow payments via the ***** P.O. Box; however, we offer several ways to meet your mortgage obligation. Moving forward, you can utilize the following payment methods: make payments by phone at **************, through our secure online portal, or via mail (ensuring inclusion of your loan number on the check).

For Overnight Payments:
Village Capital & Investment, LLC
*********************************************************************************

Mailing Address:
Village Capital & Investment, LLC
P.O. Box 679118
******, ** 75267-9118

Regarding your claims that incorrect information was sent to the credit bureaus, we have investigated this matter. All information regarding credit reporting is accurate, and your interest rate on your loan was never changed nor reported as being changed. Village Capital & Investment LLC does not accept partial payments. Payments received for less than the total monthly payment will be applied to the suspense account until the full payment is received. This information was communicated to you during a previous phone conversation with one of our representatives. Village Capital & Investment LLC would like to clarify that we do operate business transactions from Monday through Friday. Contrary to your statement, Fridays are indeed considered operating business days.

We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.

Customer response
03/08/2024

Complaint: 21298100

I am rejecting this response because:
You deny falsely reporting when clearly my status should not be unknown you previously stated I am current and due for March please correct my payment history as of today 03/08/2024 it is still incorrect and being falsely reported as unknown. Also Id like to add that I was never verbally abusive. There mustve been a language barrier between your representatives being that the majority of them dont speak English very well and dont seem to understand what I am asking or how to help with the problem. Additionally there has been multiple occasions where I made the second half of my partial payment to then be applied to my loan as a full payment and it never reflected on my account as paid which caused me to call back and find the full payment still sitting in the suspense account and not applied causing it to be late. Additional photos will follow. Please feel free to release ALL calls weve had to the BBB Im sure it wouldnt benefit Village Capital.
Sincerely,

*****************************
Customer response
03/13/2024
Still being reported in unknown status for months January and February while admitting I am currently due for March is inaccurate.
Business response
03/18/2024
We are in receipt of your correspondence addressed to the Better Business Bureau, dated March 5, 2024. You stated that Village Capital & Investment LLC has falsified credit reports. Village Capital & Investment LLC disputes all claims of inaccurate credit reporting stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

The statement you received in February 2024, indicating your account was current and on time, pertained to the previous month, January 2024. Please note that all credit reporting reflects the previous month's status. As of February 11, 2024, credit reporting for February had not yet occurred, as Village Capital & Investment LLC allows borrowers until the 15th of each month to make a payment before applying any late fees or potential credit reporting. You were reported as ***** days late for the month of February 2024 because your payment was not satisfied until March 5, 2024. The credit reporting you currently see reflects the month of February 2024. March credit reporting has not been processed. However, as of the date of this notice, we have not received a payment from you for March 2024.

We would also like to inform you of the various payment options available to you. You can make payments by phone at **************, through our secure online portal, or via mail (ensuring inclusion of your loan number on the check).

For Overnight Payments:
Village Capital & Investment, LLC
*************************************************************************** 89074

Mailing Address:
Village Capital & Investment, LLC
P.O. Box 679118
******, ** 75267-9118

We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.

Customer response
03/18/2024

Complaint: 21298100

I am rejecting this response because: As previously stated, it is now March 18, 2024, meaning that ********* payment has now been paid for over 30 days. There has been the 15th of February as well as the 15th of March to report ******* and February as paid. March has not been processed but ******* and February should have been reported accurately as paid. They have been reported BUT not correctly because it states "unknown" but in your previous response and in the portal, YOU state they are paid. Please fix this issue upon receipt of response or I will have an attorney advocate on my behalf for inaccurate reporting and refusal to correct after multiple attempts to resolve the matter with you directly. ******* and February are still in an unknown status which is inaccurate. You are not addressing the correct month or problem. All responses to this matter will be documented and used in the court of law. In addition, you may want to add the overnight payment address to the village capital website and billing statement instead of just using it as an option in BBB responses.

Sincerely,

*****************************
Business response
03/29/2024
We are in receipt of your correspondence addressed to the Better Business Bureau, dated March 18, 2024 . You stated that Village Capital & Investment LLC has falsified credit reports. Village Capital & Investment LLC disputes all claims of inaccurate credit reporting stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

Village Capital & Investment LLC has updated your account to reflect the satisfaction of the January 2024 and February 2024 payments. However, it's important to note that credit reporting will reflect that the payments were received late, as required by law. Credit reporting is based on when payments are received, not solely on whether they were satisfied. Despite receiving your payment for March on March 25, 2024, please be aware that if there is another reversal for insufficient funds and this payment is not properly reapplied before April 1, 2024, you may be subject to credit reporting for March as well.

Thank you for your additional clarification regarding the timing of payments and its impact on credit reporting. We understand the significance of adhering to credit reporting guidelines based on payment timing relative to the due date.

It's crucial to understand that neither you nor any 'credit repair' company or credit repair organization has the right to have accurate, current, and verifiable information removed from your credit report. The credit bureau must remove accurate, negative information from your report only if it is over 7 years old. Bankruptcy information can be reported for 10 years.

Credit reporting is based on the timing of payments relative to the due date, not the date of contact or request. As your payment was made after the due date for the month in question, we are unable to make adjustments to your credit report. We appreciate your understanding of these limitations and assure you that we are committed to accurately reflecting payment statuses and other relevant information in accordance with industry standards and regulations.

Regarding your claim that Village Capital & Investment LLC does not have the *********, ** address listed on our website, this is incorrect. The *********, ** address has always been listed on our website in the payment options section. To locate the address, please visit www.Villagecapital.com, go to the top right corner, and click on "make a payment." Under this tab, you will find "payment options," which includes mailing a check to the *********, ** address. Your payment options were also clearly outlined in the previous correspondence sent to you on March 18, 2024. A screen grab of our website will be included with this correspondence to assist you in finding the payment options via our website.

We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.

Customer response
04/03/2024
Company is lying they havent reported anything Ive been in unknown status since January 2024. I am current and they wont report is correctly.
Customer response
04/03/2024

Complaint: 21298100

I am rejecting this response because: The account in the Village capital portal reflects the account as current. You are in fact still reporting the previous months in an unknown status to the credit bureau. It has not been reported as late. It states unknown which is a lie because in your previous response you stated it has been paid. You are not addressing the issue, instead you are deflecting the issue of inaccurate reporting to the payment being late. The payment being late for those months could and should have been reported as late not unknown and should reflect the current amount owed. There has been plenty of time to correct this and as previously stated my attorney will be in contact with village capital.

Sincerely,

*****************************
Business response
04/05/2024
We are in receipt of your correspondence addressed to the Better Business Bureau, dated April 3, 2024 . You stated that Village Capital & Investment LLC has falsified credit reports. Village Capital & Investment LLC disputes all claims of inaccurate credit reporting stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:
Village Capital & Investment LLC reiterates its commitment to conducting all credit reporting activities meticulously and in strict compliance with the Fair Credit Reporting Act (FCRA). Following your initial complaint in February, our team has extensively reviewed your account and its associated payment and credit reporting history multiple times. We can affirm that there have been no instances of erroneous reporting linked to your account.
The adverse reporting you continue to contest falls within our rights as a Data Furnisher, and is in accordance with standard credit reporting practices observed by many mortgage servicers and lenders. It is important to note that credit reporting reflects payments as of their original due date; hence, any delay in payment beyond 30 days from the due date is subject to reporting to the credit bureaus.
To avoid late charges and prevent further credit reporting, timely submission of mortgage payments is crucial. Regrettably, Village Capital & Investment LLC has consistently received payments from you more than 30 days late, and there have been instances of payments being reversed due to insufficient funds. Should you require assistance, we encourage you to reach out to our loss mitigation department to explore available options.
As previously communicated, engaging a credit repair attorney will not result in the removal of accurate, current, and verifiable information from your credit report. Negative information may only be expunged by the credit bureau if it exceeds a period of 7 years.
In summary, Village Capital & Investment LLC remains steadfast in its commitment to maintaining accurate credit reporting practices pertaining to your account. Any deviation from this standard would contravene ethical business principles, which we hold in the highest regard.
We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.
Initial Complaint
02/13/2024
Complaint Type:
Service or Repair Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
My mortgage was originally with ***************** the first payment was made to them. The notice of transfer I received stated that our loan was sold to Village Capital and payments are effective 2/1/2024 to them. I have never been able to access my account with ********************************************* to make a payment, so I called and was told there was an issue with the onboarding of our loan because Village Capital was expecting the first payment to be transferred/made to them; however, **************** has no legal obligation to transfer that payment. I made a payment (over the phone) to Village Capital on 2/1/2024, yet that money has never been taken out of my account. I was told that a supervisor would call back that same day, never got anything. I received a threatening letter stating my mortgage was in default and at risk of foreclosure/reported to the credit bureau on 2/9/2024 (dated 1/30/2024), so I called that evening. After much resistance from the call center representative, I was transferred to someone else who couldnt help but was able to contact a supervisor. Due to it being a Friday evening, no supervisor was willing to assist me and I was told they would call me back Monday 2/12/2024. No call. I called today 2/13/2024 and was on the phone with a representative for an hour trying to get in touch with a supervisor (or someone who can help). I began growing frustrated when no one could assist me and requested names of all the workers associated/working with this issue so I could start taking the steps I need to legally resolve this issue. Upon my request, I was hung up on. This is ridiculous especially as a first time homebuyer. Please help!!
Customer response
02/16/2024
I finally received a call back from **** whom I spoke with on the first of February. He told me that village capital on boarded our mortgage in error and that NFM lending has my mortgage. I contacted NFM lending and they have 0 information on my mortgage. They said they do not have our Mortgage. I am at my ***** end. I don't understand how this can be happening.
Customer response
02/21/2024
I received another call back from village capital. This time from destiny who said my mortgage was with another company. I spoke with northpointe again today and assured me it was with village capital. It has been 21 days and they still can not rectify this issue. This is beyond negligent.
Business response
02/26/2024
We are in receipt of your correspondence addressed to the Better Business Bureau, dated 02/13/2024. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

We reached out on 02/23/2024 with an attempt to collect payment due to unprofessional language and threats of legal action made against the borrower a resolution was unable to be made. Payments can be made online or by calling at ************.

In regards to payment made with the previous servicer for the month of January you would have to contact them with information regarding when and how they sent the payment for the month over to us as we are not in receipt of the payment.

We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at 1-************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.

Customer response
02/26/2024

Complaint: 21287216

I am rejecting this response because: You have failed to answer or address any concerns and i believe you did not look at the documents we uploaded. we have spoken with the **************** and they have sent documents stating that you are not getting Januarys payment as you did not take over the loan until the end of January. Also, you did not address how two of your employees stated that my loan was with another lender. I was going to pay until the man told me it was for Januarys payment. This is completely unacceptable. We are waiting for norhpointe to send over the actually documentation from the transfer of my sale between the companies involved. Northpointe is going above and beyond for me to get this matter addressed, while on your end you are doing nothing. why cant you get ahold of northpointe and figure out who is in the wrong instead of placing it on me considering the documentation i have uploading saying you dont take over my loan untill february 1st? we also filed a complaint with the **** and they will be looking into this matter as well. Have you looked at my documentation or have you not? Also since two of your employees told me you dont have my mortgage, explain to me how that is even possible?

Sincerely,

*****************************
Customer response
02/29/2024
I received a call on 2/28 from a supervisor confirming my January payment to my previous mortgage company WAS IN FACT A CORRECT PAYMENT AS YOU DID NOT NOT OWN MY MORTGAGE UNTILL FEBRUARY 1ST. I was able to make my February payment with no issue.I still want clarification on how 2 employees told me my mortgage was with another lender and also I want noted that the only reason this issue was resolved was because I contacted my previous mortgage company and told them how much of a nightmare it has been dealing with you. THANKS FOR NOTHING.
Business response
03/05/2024
We are in receipt of your correspondence addressed to the Better Business Bureau (BBB), dated 02/13/2024. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

Upon thorough review of our records and communication with ***************** it has come to our attention that there was indeed a misunderstanding between Village Capital & Investment LLC and **************** regarding the payment schedule.

We acknowledge that a discrepancy occurred when determining the due date for your first payment with Village Capital & Investment LLC. After rectifying the situation, we have updated our records to reflect that the first payment was due as of February 1, 2024.

As of now, we have ensured that your account is current and the next payment is due for April 1, 2024.

We sincerely apologize for any inconvenience or confusion this may have caused you. Our aim is to provide exceptional service, and we regret falling short of your expectations in this instance.

Should you have any further questions or concerns, please do not hesitate to reach out to us at ******************************************************* Our team is dedicated to addressing any issues promptly and ensuring your satisfaction.

We believe that this response fully addresses the concerns outlined in your Better Business Bureau (BBB) correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at *******************************************************

Customer response
03/05/2024

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

*****************************
Initial Complaint
02/13/2024
Complaint Type:
Service or Repair Issues
Status:
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.
Good afternoon, This is *********************** and *************************** we reached out to our ************************************************** (LMS#******) about the mistake that this company has done that has extremely impacted myself, and my husband's credit . We have tried reaching out to them multiple times. We have also reached out to the main office more than six times. No one is making the effort to actually help. After our last email on Wednesday Feb 7th with *********************, he stated that someone was taking care of this issue not including the previous week conversation where ********************* also stated someone would be calling us and we have yet to receive a phone call . it seems as though they have not been working on anything . In fact, the matter got worse as an additional late payment for February was added to our credit report, dropping our credit score, once again, dramatically even worse than the first time.We were told by ********************* multiple times that our January payment was not due until closing in which we paid at $2,335 at closing and that our next payment would not be due until March 1 . We followed all of your instructions and this was the outcome. Since the last email you sent on February 7 we have tried calling Village Capital. We have tried leaving messages and we have tried emailing as well as calling the office more than six times and no one is any help we even had a lady mock me and my wife saying that they dont give out two free months of mortgages. Our phone calls are supposedly recorded so there should have no issue bringing that phone call up if it comes down to it . We think that was unprofessional and also this matter is not a joke as this is affecting our lives because of the area of work we are in. We also have not received any paperwork or any proof or anything at all about our closing . Thank you very much and we will be waiting on a response/phone call.
Business response
02/21/2024
We are in receipt of your correspondence addressed to the Better Business Bureau, dated 02/13/2024. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

Payoff was pending as on 02/05/2024 making you responsible for Januarys payment to be made before 02/01/2024. Due to payoff being made on 02/13/2024 it marked you ***** days delinquent for the month of January.

We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.

Customer response
02/27/2024
The Village Capital & Investment company has finally been able to get in contact with the credit bureaus to remove the late payments. Our credit scores have been adjusted but we have not received any paperwork confirming our refinance with the company. Now, there is a lean on our house for another correction they did not make with the previous mortgage agreement. We have still been trying to get in contact with someone but have been unsuccessful.
Customer response
02/27/2024

Complaint: 21286229

I am rejecting this response because: The Village Capital & Investment company has finally been able to get in contact with the credit bureaus to remove the late payments. Our credit scores have been adjusted but we have not received any paperwork confirming our refinance with the company. Now, there is a lean on our house for another correction they did not make with the previous mortgage agreement. We have still been trying to get in contact with someone but have been unsuccessful.

Sincerely,

***************************
Customer response
03/06/2024
We received a letter from Village ******* stating false information, which is the information that is being fed to the Better Business Bureau. We have proof that our refinancing process started December 20 we were told by ***** dockstander (loan officer ) that we were not to pay Januarys payment until closing, which is exactly what we did. Our next mortgage payment after that was not due until March 1, which was paid weeks in advance. The information stated in the letter is false information and needs to be corrected as soon as possible, we have tried emailing this company calling multiple times week after week till this day no one has responded back to us. ***** has been emailed multiple times and he has also not emailed back. We have all of our closing paperwork from when we refinanced. Again, this company is not telling the truth. They are only saying what they want the Better Business Bureau to hear. They need to fix this issue as soon as possible before a lawyer gets involved.
Business response
03/11/2024
We are in receipt of your correspondence addressed to the Better Business Bureau, dated February 27, 2024. You stated that Village Capital & Investment LLC has inaccurately submitted negative credit reporting. Village Capital & Investment LLC disputes all claims of inaccurate credit reporting stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

In accordance with our prior communication, your payoff was in a pending status as of February 5, 2024. Therefore, you were responsible for the January 2024 mortgage payment.

As of the date of this correspondence your loan has now been paid in full. All relevant documents have been dispatched to the property address on record.

We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.
Initial Complaint
02/09/2024
Complaint Type:
Service or Repair Issues
Status:
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.
I fall behind on my mortgage i was not explain i was going to have a lien i got multiples fifferent miss information *** when i asked for a supervisor called me and was already with the attitude told me he was going to cancel to be able to pay at the end of my mortgage contract and told me now after the agebt before told me i owed ***** told me i needed to pay 8000 and that they should of had not taken my payment to start paying again. I do not want to be contatct it by ***** i need another mananger or supervisor told me they sent me a letter on the 2/6 today is the 8th impossible to have received the letter and told me the application went out yesterday.
Business response
02/19/2024
We are in receipt of your correspondence addressed to the Better Business Bureau, dated February 8, 2024. You stated that Village Capital & Investment LLC has failed to inform you that the partial claim would be a second lien on your home. Village Capital & Investment LLC disputes all claims of failing to properly inform borrowers of loss mitigation procedures stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

On February 8, 2024, our ************************** at Village Capital & Investment LLC received a phone call from you during which you verbally accepted the terms of the partial claim. Our representative thoroughly reviewed the partial claim details with you and addressed all your questions. During the conversation, you mentioned that you were unaware of the impending foreclosure, to which our representative explained that we had attempted to contact you through multiple channels, including calls, texts, emails, and **** notifications, regarding the delinquency.

Additionally, on February 8, 2024, a supervisor called you as per your request, to further discuss the partial claim. During this call, it was reiterated that accepting the partial claim would result in a second lien on your property. You were also informed that you had the option to reinstate without signing the partial claim package. By this time, the previous representative had already accepted payments, and you were assured that your account would be current by March.

We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.
Initial Complaint
02/07/2024
Complaint Type:
Service or Repair Issues
Status:
Resolved
The complainant verified the issue was resolved to their satisfaction.
I have not received my 1098 as of today, 2/6, to file my 2023 taxes. I would appreciate a prompt response to this matter to avoid a delay in filing my federal and state income taxes.
Business response
02/19/2024
We are in receipt of your correspondence addressed to the Better Business Bureau, dated February 8, 2024. You stated that Village Capital & Investment LLC has failed to inform you that the partial claim would be a second lien on your home. Village Capital & Investment LLC disputes all claims of failing to properly inform borrowers of loss mitigation procedures stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

On February 8, 2024, our ************************** at Village Capital & Investment LLC received a phone call from you during which you verbally accepted the terms of the partial claim. Our representative thoroughly reviewed the partial claim details with you and addressed all your questions. During the conversation, you mentioned that you were unaware of the impending foreclosure, to which our representative explained that we had attempted to contact you through multiple channels, including calls, texts, emails, and **** notifications, regarding the delinquency.

Additionally, on February 8, 2024, a supervisor called you as per your request, to further discuss the partial claim. During this call, it was reiterated that accepting the partial claim would result in a second lien on your property. You were also informed that you had the option to reinstate without signing the partial claim package. By this time, the previous representative had already accepted payments, and you were assured that your account would be current by March.

We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.

Customer response
02/20/2024

Complaint: 21256561

I am rejecting this response because: they provided a response to someone else's inquiry. I was simply asking about when I would receive my tax statement, which I have received now albeit it wasn't mailed until after the required 1/31/24 cutoff. Based upon others' reviews of this company this is a perpetual problem.

Sincerely,

***********************
Business response
02/20/2024
We are in receipt of your correspondence addressed to the Better Business Bureau, dated February 6, 2024. You stated that Village Capital & Investment LLC has not allowed you access to your 2023 1098. Village Capital & Investment LLC disputes all claims of withholding tax documents from borrowers stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

On January 31, 2024, Village Capital & Investment mailed out all 1098 forms via ***** In addition 1098s are available through our secure online portal.

We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.
Customer response
02/20/2024

Complaint: 21256561

I am rejecting this response because forms were not mailed by 1/31/24 as required. They were issued after the fact and I do consider the matter resolved. But would like the record to reflect that the timeline for required mailing was not met and was acknowledged by Village Capital representative when I last called asking about it.

Sincerely,

***********************
Business response
02/29/2024
We are in receipt of your correspondence addressed to the Better Business Bureau, dated February 21, 2024. You stated that Village Capital & Investment LLC has failed to mail your 1098 in accordance with federal law. Village Capital & Investment LLC disputes all claims of failing to mail 1098s in accordance with federal law stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:

After reviewing the recorded phone call with a representative of Village Capital & Investment LLC, it appears that there was a misunderstanding. The representative mistakenly stated that the 1098 form was mailed on February 7, when the intended statement was that it should have been received between February 7 and February 14. It is important to clarify that all ************************************* before January 31, in compliance with federal law.

The representative has been informed of the correct timelines regarding the mailing and receipt of the 1098 forms to prevent similar confusion in the future.

As of the date of this written communication, you do have access to your 1098 documents.

We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.

Customer response
02/29/2024

Better Business Bureau:

I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.

Sincerely,

***********************
Initial Complaint
02/06/2024
Complaint Type:
Customer Service Issues
Status:
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.
Me and my wife recently bought a new home last Sept. Village capital was our old mortgage company, they have closed our portal for the account, and have withheld the single piece of paper we need to file taxes the 1098. We were thinking of refinancing with them, but have resolved after many many attempts to obtain a single piece of paper not to. A paper that was ******** days ago
Business response
02/14/2024
We are in receipt of your correspondence addressed to the Better Business Bureau (BBB), dated February 6, 2024. You claim that Village Capital & Investment LLC has not dispatched 1098 forms via mail. Village Capital & Investment LLC disputes all claims of unethical practices stated in the contents of the above referenced complaint. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:
As of January 31, 2024, all 1098 forms were dispatched through **** and made accessible on our online portal. Furthermore, Village Capital & Investment LLC conducted an additional step of emailing a copy of the **************************************** our records.
We believe that this response fully addresses the concerns outlined in your Better Business Bureau (BBB) correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or e-mail us at ******************************************************.

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