ComplaintsforVanderbilt Mortgage & Finance, Inc.

• Initial Complaint

  05/14/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Business agreed to accept my offer and then backed out on the offer

  Business response

  05/23/2024

  Thank you for reaching out to Vanderbilt Mortgage and Finance in regard to your concerns. Vanderbilt Mortgage and Finance was unable to locate an application with the provided information. For further assistance, we request that you contact us at 1-800-970-7250 so an application can be located. 

• Initial Complaint

  05/08/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  July 2009 I bought a 2009 Giles mobile home that was financed through VANDERBILT MORTGAGE AND FINANCE and In the contract they fraudulent claim under false pretense that the mobile home was a 14x56 when in fact it is actually a 14x42 and I brought this up to them when I bought the mobile home and they blew it off as a typo this mobile home is only valued at $6,880 assessment by City of Bristol Va I paid them $7,500 on May 7th 2024 and asked them to settle for that amount in full and consider the account paid to in full and release lean and title they are still asking for an additional $1,194 as payoff I have made them a fair offer and request to settle the account and consider it paid in full they sold home to me under false pretense

  Business response

  05/30/2024

  Mr. ********* provided a lump payment to VMF on May 7, 2024.  These funds were insufficient to completely pay off the balance on the loan.  VMF had previously made no indications or entered into an agreement with Mr. ********* that it would accept a settlement for less than the balance of the loan.  This payment posted in accordance with our payment waterfall which advanced the due date and applied a large portion of funds to the principal balance. 
  
  VMF was unable to make arrangements to accept less than the balance due in light of its investor servicing guidelines and was unable to re-purchase the loan from GNMA to make any other arrangements concerning the balance. VMF has been in contact with the customer and Mr. ********* paid the loan off on May 28, 2024. 

  Customer response

  05/30/2024

  
  Complaint: ********
  
  I am rejecting this response because: I under no circumstances said there was an agreement to accept less on loan I plainly stated issues was blatant fraud on part of Vanderbilt Mortgage regarding size of mobile home which is 14 foot smaller than stated and charged in contract which is fraud,,, I however did pay loan in full so I can be done with this fraudulent company and will tell everyone the fraud that Vanderbilt perpetrated upon me
  
  Sincerely,
  
  ***** *********

• Initial Complaint

  04/18/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Vanderbilt failed to pay the mobile homes taxes for the year 2022. This resulted in our mobile home being sold at a tax auction in 2024. Now Vanderbilt expects us to pay back the mobile home taxes for 2022 and 2023 within 12 months, resulting in a $650 increase in escrow over the next 12 months. Vanderbilt is not attempting to work with us to alivieate the significant increase in mortgage due to their mistake. We cannot afford the amount requested. Simply increasing the amount of time required to pay back the taxes for 2022 would solve this problem.

  Business response

  05/09/2024

  Vanderbilt Mortgage and Finance apologizes for the issues the customer has experienced with the escrow process. We have been in contact with the customer and are working to resolve the issue. We are working to extend the tax repayment term without any additional penalties to help alleviate the customer's concerns. Should the customer have any further questions, we encourage them to reach out to us directly at 1-800-970-7250.

• Initial Complaint

  04/16/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  On 1/29/2019 this home was put in ch.13 bankruptcy case by my husband. When the case was filed Vanderbilt Mortgage only put 61,000 which is the principal amount that we owed on the home, we was told that we would only have about $3000 worth or principal to pay. Over the 5 years we have paid Vanderbilt a total of 58,000 which was supposed to go to the principal and not the interest. One of the reps stated that we signed an agreement to pay the interest which we were never told that when we signed the contract. They took the money that we paid in ch.13 and applied it to principal and interest which it is not supposed to be twoards the interest at all, all was supposed to be applied to the principal according to the ch.13 paper. I would like for them to correct the issue and apply the funds correctly.

  Business response

  04/25/2024

  Vanderbilt Mortgage and Finance apologizes for the confusion our customer has experienced through the Bankruptcy process. Vanderbilt has been communicating with the customer and has provided documentation for further clarification. We are unable to discuss specific details on a public forum, however we encourage our customer to reach out to us directly should there be any additional questions or concerns. Vanderbilt can be reached at 1-800-970-7250.

• Initial Complaint

  04/12/2024

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Homefirst Agency was unwillingly chosen for me by Vanderbilt Mortgage. I was not involved with choosing my coverages with this company. Through my own personal investigation I have deducted that this company is willfully and maliciously over insuring customers without the customers knowledge with the help of Vanderbilt Mortgage. Any attempt by customers to lower such things as personal property insurance level are rejected by Homefirst Agency with the blessing of Vanderbilt Mortgage. Any attempts by the customer to reach out to the underwriter of the policy Assurant and file a complaint are ignored by Assurant. Homefirst Agency, Assurant and Vanderbilt Mortgage have banded together in an attempt to overcharge customers by pushing unauthorized insurance products on unknowing customers. When asked by the customer to change coverages the customer is then mislead to believing that the coverage has been changed, but refused evidence of the change. Notice of refunds are also information that is unknown to the customer. I will be reaching out to the appropriate government agencies to report these individual companies and address the situation that I have personally experienced.

  Business response

  05/01/2024

  We apologize for the confusion our customer has experienced with the Originations process. Vanderbilt is unable to choose insurance policies for a customer per federal regulation. Vanderbilt also does not control or have visibility on any insurance company internal policy. Our records show that we have spoken with the customer as of 4/18 and provided updated information to them. We encourage the customer to reach out to us directly at 1-800-970-7250 should there be any additional questions or concerns. 

• Initial Complaint

  04/10/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  My account has inaccuracies with payment history and payments. I have documentation from the organization that the account is current , yet it’s being reported as late or missing to credit bureaus. I recently just got denied from a loan I needed due to how it looks to lenders. My credit is shot and filing disputes aren’t resolving anything. At this point, I think they’re doing it so myself and my brother can never refinance for a better interest rate. My brother never got contacted back either when I called Vanderbilt to see what happened regarding the discrepancy.

  Business response

  04/11/2024

  We appreciate the customer reaching out to us with their concerns. Vanderbilt has performed an investigation per the customer's request and has determined that all information has been reported accurately. Vanderbilt is compelled by the Fair Credit Reporting Act to report accurately each month on a monthly reporting cycle. VMF reports the previous month's activity each month, and it can take 5-7 business days for the credit bureaus to reflect the information. If the customer has any further questions, they may reach out to get more information. We encourage the customer to reach out to us directly at 1-800-970-7250 should there be any additional questions or concerns.

• Initial Complaint

  03/22/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  On March 13th I called in and inquired about my balance due to me making 6 months of payments. I was not due until June 2024, I paid up 6 months so my next payment wasn’t due until December 2024. After speaking to the representative on March 13th she offered to reallocate 2 months of payments to the principal so that my balance could be lowered to around 6k. I said yes that would be great. She said she put in the request and it would take a couple of days to reflect. I have been checking ever since on my portal and I’m only seeing one reversal and now my next due date is October. I’ve called numerous times I keep getting brushed off saying they see it and give it time on my portal to show. Today I spoke with *** who seemed to not even be listening to what I called in about she pretty much got me off the phone within 2-3 minutes. I am really confused and upset. I am out of work right now and I do not have any time for payments being missing. I need answers.

  Business response

  04/04/2024

  Vanderbilt Mortgage and Finance has been in communication with customer and sent documentation for further clarification. Unfortunately, Vanderbilt Mortgage and Finance is unable to discuss further details of the request on a public forum; however, we encourage the customer to reach out to us directly at 1-800-970-7250 should there be any additional questions or concerns.

• Initial Complaint

  01/17/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Jan 8, 2024: VMF illegally processed a payment of $630.44. I did not authorize this transaction. I also incurred a $32.00 overdraft fee. VMF had a sales rep and manager admits to the mistake verbally and in writing but refuses to refund me the money. I've been lied to and taken advantage of. I have email to prove their malicious wrong doing which also includes an apology from them but no intention to rectify their illegal actions.

  Business response

  01/31/2024

  Vanderbilt Mortgage and Finance, Inc. would like to apologize to the customer for any inconvenience caused. We have been in communication with the customer and the issue was resolved on 1/26/24. Thank you for reaching out to us and should there be any additional questions or concerns, please reach out to us at 1-800-970-7250, or or by fax at 865-380-3418.

• Initial Complaint

  01/11/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  My account was in default status as of November 2023 an the bill I got in the mail said pay $3,296.66 so when I called to pay it the balance then changed from $3,296.66 to $4,668.85 to be reinstated they put a block on my account so I paid $3900 an was told to pay $800 by January 1, 2024 so my balance went from $763 to $1,463.48 I called today to pay $1,000 on it before the 16th because the 16th of the month will add another payment for February 1st an I couldn’t do that they block me from paying it through my bank account, money gram, an etc… the man said they needed $1500 to reinstated but in the meantime they was sending me the $3900 back since I didn’t pay by January 1st 2024 an to hold on to the $1,000 because when the 16th of the month comes it’s gonna be more fees added then when I called back to talk to someone else the lady said I should receive my check by January 10/11 2024 an told me to gather more funds so the loan can be reinstated mind you I just reinstated my loan in December of 2023 now on January 9, 2024 my portal with Vanderbilt is stating that I owe $1,463 but they don’t want the $1,000 I’m giving them they wanna wait until a new bill come an keep adding to bill an I’m sick of it ( keep telling me to gather more funds instead of taking the $1,000 ) the new balance would only be $463 left… Then when I ask when are they refunding my money the lady said oh it hasn’t gotten that far yet an you still have time to gather more funds to make it $1500 but the man Blake stated they was sending me my money back in the form of a check an i don’t think that’s right when I called to pay $1,000 i don’t want my account to be back like it was an I’m not trying to lose my house! Please help I’m tired of Vanderbilt not taking the payment when I’m trying to pay it they either saying gather more funds or your account is blocked an you gotta pay this for it to be reinstated! I was out of work for hip replacement surgery an tried to get help but they denied it also!

  Business response

  01/23/2024

  Thank you for reaching out about your concerns, Vanderbilt Mortgage and Finance apologizes for any confusion experienced. Vanderbilt’s records indicate that we attempted to work with the customer in October of 2023 and continued to work with the customer through December of 2023. Vanderbilt is unable to accept any funds but the full cure amount once a loan is in an accelerated status. Vanderbilt worked with the customer to resolve the account issues in January of 2024. Vanderbilt is unable to provide specific amounts and dates on a public forum, but would be happy to discuss with the customer. Thank you for reaching out to us and should there be any additional questions or concerns, please reach out to us at 1-800-970-7250, or  or by fax at 865-380-3418.

• Initial Complaint

  01/05/2024

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I have had my mortgage raised 3 times since buying mobile home in 2021. I have showed proof I am tax exempt from 2022 and 2023 and they are still saying I have a negative 1000 plus that I owe them for the escrow not having the money in it to cover all taxes paid for 2022. The taxes they paid were not correct because I was considered exempt after they were paid but I have yet to get Vanderbilt to correct it. They will not lower my payment. I was paying 1171.53 and they moved payment to 1560.11. They have not adjusted my payment due to tax exemption.

  Business response

  01/17/2024

  Vanderbilt Mortgage and Finance would like to advise the customer to reach out to the county in regard to any tax exemptions or disputes. Unfortunately, Vanderbilt Mortgage and Finance is unable to discuss further details of the escrow account on a public forum. Thank you for reaching out to us and should there be any additional questions or concerns, please reach out to us at 1-800-970-7250, or [email protected], or by fax at 865-380-3418.

*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. ↩