ComplaintsforThird Federal Savings & Loan Assn.

• Initial Complaint

  06/28/2024

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  Cease all communication. I have no business with Third Federal and am tired of the frequent postal spam.

  Business response

  07/01/2024

  Good Afternoon,

   

  The customer has been removed from our solicitation lists. Please keep in mind it can take 4 to 6 weeks to be completely removed from our solicitation lists. 

   

   

  Regards,

   

  Joi 

• Initial Complaint

  05/17/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  In early 2023, I communicated to Third Federal that I would be closing and paying off my Line of Credit ********** which I did on 7/17/2023. I was under the impression account had been closed until I learned on April 27, 2024 about $65 annual fee charged in March 2024. I would like to please request to Third Federal the Annual 2024 $65 Fee is waived and to please close my Line of Credit Account **********, specially because I think that Fee is for period from Mar 2024-2025. If the Fee is for past year Mar 2023-2024 then the 1st year I did not get the Annual Fee waived as promised since the 1st annual fee was charged and paid on March 2023 and only opened the account on Mar 2022. Talked to 3 Customer Reps on 4/26/24 and 5/10/24, getting different versions about if current Fee was for 2023 or 2024. Last conversation with a Supervisor said I did get 1st year Fee waived but did not want to explain if latest Fee was for 2023 or 2024 which I think is important for my claim.

  Business response

  05/22/2024

  Good Afternoon,
  I called and spoke with Mr. ***** regarding his BBB complaint. After researching the matter, it appears that Citizens was supposed to send a letter to close out Mr. ******* home equity line with Third Federal. I reviewed the customer's file and there's a note from 7/17/2023 indicating the loan officer never responded to emails sent to him regarding the close out of this home equity line of credit. I submitted a request to waive the annual fee of $65.00 due to the lack of a response from Citizens. Mr. ***** has provided me with a signed request to close his equity line of credit with Third Federal. At this time, we consider this issue to be resolved.

  
  Regards,
  
  Joi ******
  Customer Care Service
  
  

• Initial Complaint

  10/16/2023

  Complaint Type:

  Delivery Issues

  Status:

  Answered

  More info

  I purchased my home with Third Federal on July 31st and they were running a promo of receiving a $100 Home Depot gift card once everything was finalized. I have reach out to mortgage representatives every several weeks and I am told this is a marketing issue and I should receive my gift card soon. I still have not received it and I am told there is nothing more she can do. I would just like my $100 Home Depot gift card since you have my business and mortgage loan and was done on my side.

  Business response

  10/21/2023

  This letter is in response to ****** *****’s complaint filed with the BBB on October 16, 2023 regarding receipt of $100
  Home Depot gift card.
  Mr. ***** was working with Michelle at our Columbus Regional Office. The first set of gift cards were mailed to the
  current address on the loan application, **** **** ****** ****. Mr. ***** reached out and said he did not receive. A
  $100 gift card was then sent certified mail to his other address ** ***** *****. A notice was left for Mr. ***** on
  September 19, 2023 at the ***** ***** property. His gift card is at the Gahanna Post Office 246 Lincoln Cir Ste E
  Columbus OH 43230 under the tracking number ********************.
  Thank you for the opportunity to respond to this inquiry. If we can be of further assistance, please feel free to contact
  me through Customer Care Service by calling 216-429-5000 or 1-800-844-7333.
  Sincerely,
  Matthew H***
  Customer Care Service Manager

• Initial Complaint

  07/06/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I am missing a couple of automatic payroll deposits into the HELOC account I have with Third Federal. They keep telling me it was returned to the company I work for, but the company I work for says that they did not receive any returned funds. I keep getting a runaround from bank employees.

  Business response

  07/20/2023

  This letter is in response to ******* *****’s complaint filed with the BBB on July 6, 2023 regarding two separate
  payroll direct deposits intended as payments for his home equity line of credit.
  Third Federal received the monies on April 14, 2023 and May 31, 2023 that Mr. ***** is referencing and the funds
  were rejected/returned to US Bank (his employer’s bank) on the same day. Third Federal is working with Mr. *****,
  his employer (RSM) and US Bank to resolve this issue. Trace numbers of Third Federal’s return were provided to US
  Bank to assist in locating the funds.
  Thank you for the opportunity to respond to this inquiry. If we can be of further assistance, please feel free to contact
  me through Customer Care Service by calling 216-429-5000 or 1-800-844-7333.
  Sincerely,
  Matthew H***
  Customer Care Service Manager

• Initial Complaint

  06/19/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I was shocked to find out that my loan doesn't include Home Insurance which I had to pay out of my pocket. Then after just over a year my mortgage payment was increased by $1,834.98 - $1,641.14 = $193.84 Increase??????????????????????? I can't afford it. Account History Mortgage Loan ***** Selected account Mortgage Loan ***** Change the selected account Balance$133,149.17 Date Description Amount Balance 05/01/2023 Loan Payment $1,641.14 Principal$1,136.84 Interest$269.72 Escrow$234.58 $134,288.27 Date Description Amount Balance 06/01/2023 Loan Payment $1,834.98 Principal$1,139.10 Interest$267.46 Escrow$428.42 $133,149.17 All this without prior notice. They just went into my bank account and took the increased mortgage doubling the Escrow from $234.58 to $428.42 With this increase of $193.84 x 12 = $2,336.08 annually. I just can't afford it. With the current financial situation in the country and no salary increase. Where am I supposed to get all this extra money? I am asking BBB to look into the situation and help me out. It looks like they want me to surrender my property to them when they know I cannot afford it. Account Details TypeMortgage Number********** Interest rate2.390% Term: 10yrs. I thought I had a good rate at that time. But after finding out that I had to pay the Home Insurance out of my pocket and with this sudden increase. I would have been better off staying where I was before. Again, I'm am asking BBB to help me out not to lose what I worked for so hard to achieve. Thanking all in Advance. Mr. ******* ***** *** * * ** ******* ** ***** *******.*****@ngc.com Home Insurance @ Liberty Mutual Policy Balance Frequency Payment method What you pay *** * * ** ******* ** ***** ***************** $592.00 Monthly Checking ***** edit Autopay $74.00 on 06/15/2023 Pay Please help me Thanks Again, ******* *****

  Business response

  06/26/2023

  This letter is in response to ******* *****’s complaint filed with the BBB on June 20, 2023 regarding increase in his payment due to escrow. 
  Mr. *****’s homeowners insurance expired Feb 15, 2023. Third Federal attempted to contact Mr. ***** to provide updated homeowners insurance via letter on Feb 24, 2023, March 27, 2023 and April 11, 2023. Additionally, phone calls were made to Mr. ***** on April 4, 2023 and April 19, 2023. We received no response from Mr. ***** so Third Federal placed insurance on his property thus increasing his monthly payment. 
  
  I attempted to call Mr. ***** and both of his phone numbers have full voicemail boxes. Third Federal’s insurance can be removed with proof of updated insurance from Feb 15, 2023 going forward. Mr. ***** can upload his insurance at thirdfederal.providemyinsurance.com, email to [email protected] , via mail to PO Box 39068 Solon, OH, 44139, or via fax 877-795-3670. 
  
  Thank you for the opportunity to respond to this inquiry. If we can be of further assistance, please feel free to contact me through Customer Care Service by calling 216-429-5000 or 1-800-844-7333. 
  
  Sincerely, 
  
  Matthew H*** Customer Care Service Manager 

  Customer response

  07/05/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
  
  

  *******,

  DECLARATION sent to Third Federal and haven’t heard back from them.

  Thanks & Happy July 4^th

  Mr. *****

   

  From: *****, Jack [US] (ES)
  Sent: Tuesday, June 27, 2023 9:40 AM
  To: ************************ ************************
  Cc: Jack ***** **********************
  Subject: Disclosures My Peris Home Insurance

   

  Policy

  ****************

  *** * * ** ******* ** *****

  Premium

  $888.00

  Period

  02/15/2023 to 02/15/2024

   

  ATTN: Mathew H***

  Customer Care Service Manager

  
  Regards,
  
  ******* *****
  
  
  
  
   

  Customer response

  07/12/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
  
  

  07/05/2023

  THIRD FEDERAL SA DES:LOAN PMT ID:XXXXXXXXXX**** INDN:*****, *******... View/Edit

  Other Payment

  -$1,834.98

  Third Federal SA DES LOAN for the 2^nd month still withdrawing excess amount from my account for self-imposed Home Insurance even after receiving my Perris Home Insurance Declaration.

   

  
  Regards,
  
  ******* *****
  
  
  
  
   

  Business response

  07/12/2023

  This letter is in response to ******* *****’s complaint filed with the BBB on June 20, 2023 regarding increase in his payment due to escrow. 
  
  Mr. *****’s homeowners insurance showing coverage from Feb 15, 2023 to Feb 15, 2024 was received on July 6, 2023. There is a $1,060 credit to the escrow account on July 6, 2023. Additionally, Mr. ***** will be receiving a surplus check of $217.05. An analysis of the escrow account will be performed later this month and will change the August 1st payment to $1,641.17. 
  
  Thank you for the opportunity to respond to this inquiry. If we can be of further assistance, please feel free to contact me through Customer Care Service by calling 216-429-5000 or 1-800-844-7333. 
  
  Sincerely, 
  
  Matthew H*** Customer Care Service Manager 
  
  

• Initial Complaint

  04/20/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  Third Federal is putting obstacles in the way of making loan payments. While trying to pay off my HELOC loan I received an error saying that I was paying too much and had reached the monthly maximum for online payments. There is no information on their help pages referencing this, other than to call their office. I call into their office. and they tell me I can't pay my loan online or by phone, I have to mail in a check. They say it is to prevent fraud for some reason. So I mail in a check and they lose it and claim they can't find it. Now I'm in limbo with an uncashed check for a large amount of money. I call in and now they tell me they can't find it but I can make phone payments, just not online ones. They are purposefully making it difficult to pay off their loans to continue to collect money, that is dishonest and shady. I'd like my check check cashed and to be able to pay off my loan in a timely manner so i don't have to pay additional interest or deal with this shady business again.

  Business response

  05/15/2023

  This letter is in response to ****** ******’s complaint filed with the BBB on April 20, 2023 regarding paying down his
  line of credit.
  
  Mr. ****** is working with the Customer Service mgmt. team to navigate the business of paying down his home
  equity line of credit as he sees fit through our online banking and telephone portals.
  Thank you for the opportunity to respond to this inquiry. If we can be of further assistance, please feel free to contact
  me through Customer Care Service by calling 216-429-5000 or 1-800-844-7333.
  
  Sincerely,

  Matthew H***
  Customer Care Service Manager

  Customer response

  05/15/2023

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  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. 
  
  Regards,
  
  ****** ******
  
  
  

• Initial Complaint

  04/19/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I have applied for a HELOC with Third Federal and also currently have one with Third Federal (Current application is for replace existing HELOC, as they advertised a lower rate). However, they initially stated that my debt-to-income ratio was high and provided a lower counter offer. After providing my tax returns, they indicated that my rental income was not considered and was actually negative. I have asked to see their debt-to-income calculation sheet to ensure that all information is correct. I have calculated my own debt-to-income ratio, which is significantly lower. I would like Third Federal to share their calculation spreadsheet with me so that I can verify their calculations. Our income has increased significantly since the last HELOC application, and I strongly believe that there is no issue with our debt-to-income ratio. I suspect that they are double counting rental expenses, monthly rental payments, depreciation, and other factors. I would like another underwriter to review our application and calculate the correct debt-to-income ratio. Additionally, I would like them to share their calculations with us so that we can verify their accuracy.

  Business response

  04/28/2023

  This letter is in response to ****** **********’s complaint filed with the BBB on April 19, 2023 regarding loan approval
  for his home equity line of credit.

  There was an error with Mr. **********’s calculation of debt to income ratio. This error has been corrected and Mr.
  **********’s application was approved for the amount he applied for. Mr. ********** please accept our apologies and
  we look forward to keeping you as a customer.
  
  Thank you for the opportunity to respond to this inquiry. If we can be of further assistance, please feel free to contact
  me through Customer Care Service by calling 216-429-5000 or 1-800-844-7333.
  

  Sincerely,

  Matthew H***
  Customer Care Service Manager

  Customer response

  05/01/2023

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  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. 
  
  Regards,
  
  ****** **********
  
  
  

• Initial Complaint

  04/17/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  On April 3,2023 my wife ****** and I signed the paperwork where Third Federal Savings and Loan Association of Cleveland agreed to lend us $50,000. The loan would be a 2nd mortgage on our home in Jacksonville, FL. On the Closing Disclosure statement the Disbursement Date is April 7,2023. All through the loan application process and final closing everything seemed normal. Until we find out that Third Federal Savings and Loan Association of Cleveland isn't going to keep their end of the bargain and pay us $50,000. Today as I write this it’s April 17, 2023 and we’ve yet to receive the proceeds from the loan. By failing to disburse funds on April 7,2023 Third Federal Savings and Loan Association of Cleveland is in violation of their own agreement.

  Business response

  04/25/2023

  This letter is in response to ******* ********’s complaint filed with the BBB on April 17, 2023 regarding the receipt of
  his funds on his second mortgage.
  
  Mr. ******** was working with our North Palm Beach office manager, Theresa G***** and it was determined funds
  were received on April 17, 2023, the day the complaint was filed.
  
  Thank you for the opportunity to respond to this inquiry. If we can be of further assistance, please feel free to contact
  me through Customer Care Service by calling 216-429-5000 or 1-800-844-7333.
  
  Sincerely,

  Matthew H***
  Customer Care Service Manager

• Initial Complaint

  09/27/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I applied for a Heloc with Third Federal on Sept 9th. Based off my income along with the requested paystubs and verification, I was given a pre-approval, an appraisal and an acct# on Sept. 12th along with minor conditions to be met, such as HOA statements, mortgage statement and tax. All documents were submitted on Sept. 20th. Additional documents were requested and submitted on Sept. 26th. On Sept. 27th, I was contacted via phone to tell me that I was denied due to the fact that my income did not qualify me for the amount requested. Mind you that this amount was no where near half of the total equity amount. My credit history and score are great. I then asked the question, “what amount do I qualify for?” As I was okay with the idea of a lesser amount and the answer was no amount. This makes absolutely no sense to me. I now feel as though this bank just simply chose not to do business with me but on the basis of what. I then asked what did I have to make to qualify for the amount requested and the loan officer Stephanie ****** hesitated and then gave what appears to a bogus amount. How could I be initially pre-approved with the same income and two weeks later after ALL my documents and paperwork was submitted, I’m now denied based on income. I would like a manager review of my documents and loan file, as I given multiple pieces of documentation that was lost on some occasions and I have proof of all email communication as it relates to my file.

  Business response

  10/04/2022

  Hi ********, 

  A member of Third Federal management has left 2 messages with you in attempts to work with you. Please call back Derrick *****
  Phone: ************* 

   

  Thank you 

  Matt 

• Initial Complaint

  06/14/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I signed the HELOC Loan with Third Federal S&L on Jan 04, 2022, and since, I haven't received any follow-up documents or letters in the mail from Third Federal. On April 6th, 2022, for the first time, I received a phone call from Third Federal Finance Dept notifying me my payment is more than 30 days late and was reported to the Credit Bureaus. I was very worried and immediately make a balance statement payment just to be sure I'm not behind in my payment. The teammate was so knowledgeable and professional, she was so helpful in providing instructions on how to create and set up a new Third Federal account to make my monthly minimum payment and when it is due. I have a supporting document (please see attachment) and it's appeared that Third Federal mailed all of my documents to an Insufficient Address, that's the reason I never received those documents. The undelivered mails were later returned to sender by the US Postal Services.

  Business response

  06/23/2022

  June 23, 2022
  Better Business Bureau
  2800 Euclid Avenue 4th Floor
  Cleveland, Ohio 44115-2408
  Attn: Kristie Angel
  RE: BBB ID # ********
  I am writing in response to Mr. ***’s complaint filed with the BBB on June 15, 2022 regarding Third
  Federal reporting him 30 days late on his line of credit payment. After further investigation, we have
  decided to correct and remove the 30 day late reporting with all 3 credit bureaus. Corrections have been
  sent to Experian, Equifax, and TransUnion with an expected timeline of completion of July 2, 2022.
  The late charge will be credited back to Mr. ***’s account along with his address now being correct in our
  system to avoid future missed mailings.
  If we can be of further assistance, please feel free to contact myself by calling 1-800-844-7333.
  Sincerely,
  Matt H***
  Customer Care Service Manager

*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. ↩