ComplaintsforNewrez LLC

• Initial Complaint

  07/11/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I refinanced my mortgage with NewRez in January 2022. The purpose of my refinance was to combine my existing ****************** loan into my mortgage payment. My loan officer Joshua P********* informed me that once the refinance was processed I no longer had to pay the ****************** loan because it would be paid and it was included in my new mortgage payment. I received a $300 check following the refinance. I ask the loan officer what it was for and he informed me that it was left over from the former mortgage loan so I added into my escrow. I later discovered the NewRez never acquired the ****************** loan and I'm still responsible for paying it. I have reached out to Joshua P******** his direct report Mitchell H************ via email and have called NewRez several times to get this issue resolved and nothing has been done. I want the full amount needed to pay off the ****************** loan. It has been months since this incident has occurred and I will take legal action if this is not addressed as soon as possible. NewRez Loan: **********

  

  Business response

  07/22/2022

  Upon receipt of your BBB inquiry, we researched your most recent refinance.  We made contact with you on July 21, 2022 to explain that you had a rate and term refinance that did not include paying off any debts outside your mortgage. As courtesy, we will refund you by check in the amount of $1,576.77. Tthe check will be mailed under separate cover within the next 30 days. We consider this matter to be resolved.  If you should have anymore questions you may email us directly at [email protected].  

• Initial Complaint

  07/05/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I had a mortgage with this company, they sold it off to another end of 2020 I believe early 2021!!!!! Problem is I get constant refinance and junk mail from this company and have contacted their "contact us" on their website to stop the solicitation of such mail!! Like you sold me to another company!!! Stop contacting me!!Please have them remove my name from their mailings!!!!!! Totally ridiculous! Thank you!!!

  

  Business response

  07/11/2022

  Upon receipt of your BBB inquiry on July 5, 2022, we requested for your information to be removed from Newrez originations promotional marketing. Please note that it can take up to 12 weeks for direct mailings to be removed.   If you have any further questions, you may email [email protected].  Thank you for your inquiry. 
  

• Initial Complaint

  04/01/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  On 3/2/22 I spoke with ********************* NMLS#******* @NewRez to complete an application to Refinance my current home, **** took all my information as I completed signing documents through *** ****. and I received the welcome letter 3/7/22 and was set up on *** **** to sign additional documents as needed, the appraisal was completed, title company reached out on March9th for vesting information, I paid $100 dollars toward the appraisal fee that I was informed would be refundable. On 3/11/22 I received an email that my loan was approved. after that I have heard nothing else regarding my loan. I have called ****, sent emails and still as of 4/1/22 still no response, I called the title company ************ who advised me my file is closed and gave me other contact numbers to assist me and I still have no answer as to why my file was closed. At least tell me that so I can fix it. If this is the way this company does business this is not fair lending practice to obtain a consumers information and pull the credit and not give the consumer the reason as to why there being denied. and I had to find this out from the title company. I called today 4/1/22 and spoke with ***** the Jr processor who advised she will get a message to ***** manger She also advised the file was closed and not sure why. I just want to know why was I denied is that to much to ask as a tax paying citizen. I pray no one else experience this. Customer service is so hard to come by I hope this company value there customers a lot better than this, This is horrible customer service . I also want to make sure your not obtaining consumers information and miss lending them I am thankful I did not pay for the full appraisal to be treated this way with still no response on my refinance process that was approved and now file closed with no explanation. Thank you.

  

  Business response

  04/13/2022

  Upon receipt of your BBB inquiry, we escalated your concerns to our sales team.  The sales team was unsuccessful in reaching you by phone to discuss your denial.  We could not accommodate your request to refinance your loan at this time. Your appraisal value came in lower than expected, so we could not pay off all the monthly debts to meet the approved Debt to Income (DTI) tolerance levels for the investor.  We will not be refunding your $100.00 that you paid towards the appraisal.  The appraisal was performed and was emailed to you for your records.  If you should have any further questions, you may email us directly at [email protected]

  Customer response

  04/24/2022

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

  I am rejecting this response when there was no debts to be paid off. I was looking to take out the equity of $20K. I should have been advised of this and maybe counter offered the cash back amount.  and why wasn't I as a consumer advised of this to see if it could have been resolved or re negotiated. This company did not even let me know this until 3 weeks after the appraisal was completed. I would not think this is fair lending practice, then to say I would get my $100 back if the deal did not go through to now get a slap in face to stay now my $100 is not refundable. As a Realtor I would not recommend any new home buyer that's selling or buying a home to please not do business with this company.
  
  Regards,
  
  ***************************

  

  Business response

  05/13/2022

  As mentioned previously, our sales teams had tried several times to reach you to explain the denial and answer any questions.  The appraisal was completed, and the market value came in considerably lower. We could not re-work the file due to the lower value on the appraisal. The loan application decision was within 11 days of the appraisal dated (March 17, 2022),and an adverse action notice was issued on March 28, 2022.  You may contact Newrez Sales Manager ********************* directly at ************ or **************@Newrez.com to discuss any further questions you had regarding the denial. 

• Initial Complaint

  03/23/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have my mortgage with this company. I reached out to them to do a cash out refinance. They requested some paperwork from my wife and me. I submitted the info they requested of me, as recent as this past Saturday, 3-19-22. I've tried, as well as my wife, have reached out to them either via email or phone call. Now they will not respond at all, so I don't know where I stand. According to their website everything has been submitted that they requested. Also I asked them if they could include the fee for the appraisal in the loan and I was told that they would do that. The guy I emailed with on Saturday said they denied the request after I was told they would do that. I'm at a loss now, and don't know what else to dos since they will not commit with me.

  

  Business response

  04/19/2022

  Upon receipt of your BBB inquiry, we escalated your concerns to our processing team.  Our processing team has been unsuccessful in reaching you to discuss your concerns; however, you sent an email to your mortgage loan officer advising that you wanted to cancel the loan at this time. We will accommodate this request.  If you should need anything further, you may email us directly at [email protected]. 

• Initial Complaint

  03/23/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  On Dec 7, 2021, my daughter and I reached out to NewRez about refinancing. I already have a mortgage with this company and believed they would be best to handle refinancing. Mortgage Consultant, ************, was very aggressive and persistent. She kept calling us saying we had to lock in the loan rate or it would increase. She sent an email on Dec 13, requesting proof of pension income, SSA award letter, photo ID, and credit card to order the appraisal.We complied, but were hesitant about paying the $525 appraisal fee. **** assured us we would get this back in closing. We then received emails on Dec 15, and Dec 17, respectively, stating the loan was in process and to provide info about accessing our portal.On Dec 20, we got the appraisal. It took a month to get the report, though. During this time we spent a lot of time calling and emailing to learn the application status. On Jan 21, 2022, we got an email and phone call that the loan was in approved status. We then received 2 more emails from **** on Jan 31, to let us know, I should have some information on your file today. And, *********** I was able to restructure your file.Sadly on Feb 7, **** sent this email: Hello *******,I hope you are well. Underwriting just reviewed your file again. Unfortunately, the home appraised value is causing the Loan to Value to come it at 97%, even after I made changes to your file. At this time the file is recommended for denial. I will reach out by phone as well.So, basically we wasted 2 months of our lives with the lies, (we were told and it was written that we were approved). Time is money! Speaking of which, we lost $525 for an appraisal fee. We respectfully request NewRez to promptly refund that $525 appraisal fee. THANKS!

  

  Business response

  04/14/2022

  On behalf of Newrez, we apologize that we could not approve your refinance for the terms you were seeking.  The appraisal was completed and sent to you for your records.  Newrez will not be accommodating your request for a refund.  If you should have any further questions, you may email us directly at [email protected]

  

  Business response

  05/19/2022

  While we regret the loan application experience did not meet your expectations, our response remains the same.  We respectfully decline your request for the appraisal refund, we have no further commentary to provide.

  Customer response

  06/01/2022

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

  NewRez employees have lied to me and my daughter. The loan Officer specifically stated the loan was approved. This is both in writing, and over the telephone.

  This is serious. This is totally wrong and concerning 

  And since NewRez is my current mortgage company, the disrespect and blatant lies hurt much more. The company scammed me to believe my refi was approved, and charged me $500 to get an appraisal, claiming I would get the money back at closing.

  This is fraud. I was already approved for the loan its in writing. 

  I am 83 years young, physically challenged, and living on a fixed income. Every nickel matters That's why I believed the refi offer was a great way to go. 
  

  NewRez needs to refund my $500 appraisal fee. I would provide more reasons why, but typing this on a phone is challenging on itself and the screen said I only have 30 minutes to write.

  For the sake of humanity and all that is good, please refund my $500. The amount of money requested will surely not break the company's bank. Not refunding, will break the company's trust with current and potential customers.

  THANK YOU again for your reconsideration. Keep making it a dynamic day, staying smart, safe, and sane. As always,

  ”Expect…Receive…Be…A Blessing!

  ~*************************

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

• Initial Complaint

  02/16/2022

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  I have new res loan company has my mortgage holder they contacted us to refi in November of 2021 we started the process paid $800 for appraisal after 3 months of going through this....they have asked us for repeated documents over and over and over we've given them everything on time over and over and over and all of the sudden they won't return phone calls and the more I call the more they don't answer and then all the sudden the guy just got tired of talking to me and said that he wasn't going to finish my refi I have the right to finish my application and I'd like to speak to the loan officers manager. And see documentation of decisions made

  

  Business response

  03/02/2022

  Upon receipt of your BBB inquiry (February 25, 2022) your concerns were escalated to our processing and sales teams.  Per our sales team, your concerns were already escalated and resolved.  Your loan was approved and closing was scheduled for February 28, 2022.  Thank you for your feedback, and if you should need anything further, please email us directly at [email protected].  
  

• Initial Complaint

  02/01/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I currently have a mortgage that was sold to NewRez a few years ago. I contacted NewRez in October to start the process of refinancing my home. I was attempting to switch to a 15 year fixed instead of my current 30yr. after providing all required information and documents I was approved to refinance in my name alone with a POA, after hearing nothing for over a month from the title company, they decided they weren't accepting my POA New Rez contacted me and went back and forth a few times discussing my lack of faith in them and their process because of lack or communication and miscommunication. Decided to proceed but with a new title company, find out my file had been handed off due to maternity leave, was told erroneously that I had to find my own title company. worked all that out, they found another title company and messaged me they were waiting to hear back from the title company. Weeks went by and I inquired about the status of my loan to be told that the woman no longer had my file and couldn't help me that I would need to reapply and she included remarks again that were erroneous about my POA. I asked for the contact information for ********************* the COO so that I could provide all of my emails and documentation to show him the **** show people working there are doing to people. Twice I asked for the contact information to file a complaint and my emails went unanswered. This company has wasted 4 months of my time jerking me around for no reason other than to collect more interest fees for these wasted months. I can not find contact information for anyone in the leadership that is accurate. I will refinance with another company as soon as possible to get away from this scam of a mortgage company. People need to be held accountable. I did everything I was asked to do in a timely manner only to waste a significant amount of time on something that is time sensitive to me.

  

  Business response

  02/09/2022

  Upon receipt of your inquiries, Newrez Sales Management spoke to you about your recent refinance application experience.  On behalf of Newrez, we apologize for any delays or lack of communication you received.  We understand that your are working now with another lender, and do not request anything further from Newrez.  Your inquiry is of record, and we thank you for your feedback.  If you should need anything further, you may email us directly at [email protected]. 

• Initial Complaint

  01/31/2022

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  NewRez is my current mortgage servicer. I shortened maternity leave just so we could finish our cash out refinance we started 10/2021. $850 payment to have an appraisal performed, I asked my loan officer Bill B****** if we could order ourselves for less$ and he said we had to order through them. I explained we were having a hard time with the funds considering I just had a child& recently went back to work. He responded with "just use one of the credit cards we’re paying off. Thanks, Bill" Obliged thinking they'd have my best interest at hand, I used the credit card to pay for the appraisal 12/20. 12/28 still had not heard from anyone to schedule. I finally contacted them & told I had to wait to because they "were behind" with other appraisals and ours wasn't due until 1/11. Finally met with our appraiser on ?, waited until 1/11 "the due date" for an update &got the response "I'll get to yours tomorrow." 1/12 we received a closing disclosure for "Appraised prop value of $434,900'' w/ a closing date of 1/25 & a disbursement date of 1/31. We signed the disclosure and had heard nothing. I tried calling/email multiple times. 1/14 email stated "The report was uploaded on the 12th, however, there are some changes/revisions needed before it can be released. We are currently waiting for the appraiser's response." So not only was appraiser hard to get a hold of, but was late in submitting AND it wasn't submitted correctly. $ we didn't have in the first place for absolute garbage service & if I had the funds I would get another done by a company that has more respect for their clients! I called &emailed Bill multiple times. After being left In the dark for 5 DAYS I received an email response from him saying our loan has been denied because of our debt to income ratio! I have never been through such an unprofessional experience. Its been extremely stressful & now I'm further in debt because of an appraisal I paid for that was in other words promised to be paid back!!

  

  Business response

  02/14/2022

  On behalf of Newrez, we apologize that we could not accommodate your request for a cash out refinance at this time.  We will accommodate your request to refund you the appraisal fee in the amount of $850.00.  We will mail a refund check to you within the next 30 days.  If you should have further questions, you may email us at [email protected]. 

  Customer response

  02/14/2022

  [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

  01/27/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I started a refinance in 9/2021. If finally closed in 12/15/2021. They still have $3,944.00 of my funds. The check was written out of escrow to a credit card that I do not have a balance as I had Paid them off. I have requested a new check be issued to me or a credit card I do have a balance. I have spent over a month with no results. I need my money.

  

  Business response

  02/16/2022

  Newrez is unable to accommodate your request for a refund.  The payoff funds check was already cashed by *****.  You will have to seek a refund from *****.  If you should have any further questions, please email us at [email protected]. 

  Customer response

  02/25/2022

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because:
  The only reason ***** cashed the check, after weeks of trying to work with REZ and the title company to reissue the check, was to help me receive the funds.  ***** had to cash a check that was not intended for them, with no debt owed them, and then credit me.  This is sloppy business and although I am grateful for *****'s great customer service, it does not change the poor service from NewRez.  My current issue is resolved but I would not want another person, less tenacious, become victim to this company.
  
  Regards,
  
  *********************
  

• Initial Complaint

  12/20/2021

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  My husband and I requested several times to stop sending us refinance junk mail. We were assured we would be taken off the list. We even went as far as sending the request in writing via certified mail and I have the signed receipt. I just received another letter today. This letter has my mortgage balance, my interest rate and years remaining on my mortgage. One of these notices was misdirected to my neighbors house and I firmly believe this is non of my neighbors business and also a form of harassment to receive these on a monthly basis. I have requested to stop receiving these mailers via telephone request and certified mail and yet still they keep sending them.

  

  Business response

  01/03/2022

  Upon receipt of your BBB inquiry on December 28, 2021 , we requested for your information to be removed from Newrez originations promotional marketing. Please note that it can take up to 12 weeks for direct mailings to be removed.  If you have any further questions, you may email [email protected].  Thank you for your inquiry. 
  

*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. ↩