ComplaintsforVanderbilt Mortgage & Finance, Inc.

• 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.

• Initial Complaint

  09/19/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  When changing banks for autodraft of our biweekly payment, we were told return forms to set everything back up for recurring payments by September 1st or payments would be removed from biweekly billing and would be monthly and higher than two biweekly payments as well. Returned forms in USPS priority tracked envelope, tracking says the forms arrived in Vanderbilts possession on August 24, 2023 at 8:04 am, which I am fairly certain comes before September 1st, 2023. Was told it was received too late and our mortgage payment will now be once monthly and for a larger amount due to them not receiving the forms in time. I informed Vanderbilt that the forms we sent were sent with tracking and that I am well aware they received them before the deadline. Vanderbilt refuses to remedy the situation and after our biweekly payments already went up earlier this year, I am unsure why it costs more to make a monthly payment than it costs to make biweekly payments. All we are requesting is for our account to be set back up for biweekly autodraft, as the forms we sent in ON TIME, states. As I told Vanderbilt over the phone, our HVAC system has not worked properly since we purchased this brand new mobile home with "brand new" HVAC system in 2015 so it is absolutely asinine to me, that we would pay even more to continue living in it. Vanderbilt is very well aware of the HVAC problems also I am sure, as we've had to file a claim on homeowners insurance almost every year since moving in until we finally gave up and bought window unit air conditioners. So again, all we are requesting is that they honor what they said, utilize the forms that they did receive in time and set our mortgage payment plan back up biweekly so that we can afford to keep living in and fixing our home that is and has been falling apart since we purchased it and moved into it. USPS tracking number for the documents they requested be returned is 9505510326863234218250 And shows it was delivered in Maryville, TN.

  

  Business response

  10/02/2023

  We would like to thank the customer for reaching out to us in regard to their biweekly draft removal and apologize for any inconvenience. The customer’s records are correct that VMF did receive the documents on 8/24/23 and were initially processed and assigned for review the same day. The draft information was reviewed by our research team on 8/25/23, however the information could not be changed within 2 business days of the next occurrence of the biweekly draft, and the form was not filled out in its entirety. Should the customer have questions about the form submitted, they are welcome to contact us. The biweekly draft information was removed per the customer request and an accompanying letter was sent on 9/1/23.
  In regard to the payment difference between a monthly and biweekly draft, a biweekly draft is scheduled for 26 installments versus 12 monthly installments per year. As a result, the monthly payment is more than double a biweekly payment amount.
  Based on the customer’s concern for the HVAC system, we would encourage them to reach out to their homeowners insurance company, as VMF is only the financing entity and are not responsible for home maintenance and/or repairs.
  We are able to set the customer back up on biweekly draft, provided they are able to complete and return the auto-draft form, which was sent on 9/1/23. We are happy to provide another form if necessary.
  Should the customer have any other questions/concerns, we invite them to contact us via phone at 1-800-970-7250, by email at , or by fax at 865-380-3418. Our hours of operation are Mon-Thurs 8:30-8:00EST and Fri 8:30-5:30EST. 

  Customer response

  10/10/2023

  
  Complaint: ********
  
  I am rejecting this response because:

  The form was not incomplete. When I called to make a payment and check in on the status of the drafting situation, I was told by a vmf representative that everything was "good to go" and that biweekly drafting would " resume on the week of 9/11/2023", (all those calls are recorded right? So, feel free to go back and listen to her tell me that) but I digress. We will be keeping it as is, at monthly payments, paid manually via vmf.com since Vanderbilt was "unable" to put it back as it was originally until the BBB got involved. I just wanted Vanderbilt to see that not all customers will tolerate the bs and that we do infact have recourse when you don't treat us honestly.
  
  Sincerely, 
  
  ******* ******

  

  Business response

  10/16/2023

  We are happy to provide the customer with more information if they would like to contact us about the specifics of what was/is necessary on the automatic draft form. Please contact Vanderbilt Mortgage & Finance at 1-800-970-7250, [email protected], or by fax at 865-380-3418 and we will be happy to assist you. 

• Initial Complaint

  09/12/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I signed a contract loan number 885252. My mortgage amount is $443.96 Due 20th month. always on time, paid extra month, requested them to put towards to principal. started asking them to correct my name and address t . moved into my manufactured home 9/1997. Started requesting on regular monthly basis for correct title. I am ******** ****** and the home on the title has always been at so the title should show this. It does not. I asked where the extra money I have paid extra for over 15 years where is the money because my amortization shows it's not on anything. Requesting this information repeatedly I had certified 4 letters and sent many other letters starting 3 years ago I asked for a signed original signature document, I still do not have any of this and they have sent a letter in return of what simple interest means, then sent 3 more of that letters then sent why and who they can send my personal information too. They finally sent 9/7/23 history showing some of the extra payments and it shows this money went to an escrow. From 2005-9/23 I requested repeatedly where is this money? I still cannot get information. I requested **** *********: a manager to return my call back last week 3 times and once today. Shes always on the phone and no return call back and still no history information from 1997-2005 and I have held my mortgage since June which now I received a default notice certified. I called to get this information, still have no information of where my extra $4.000 is. I started paying this loan Sept 1997, now they show bad credit because THEY will not comply with my request. This has lowered my credit score because of them also. They also charged on records a $10.00 for my loan was returned and I even called and gave an automatic debit of my new credit information. They are trying to nickel and dime me. Now I have until September 22,2023 to pay but they will not supply me this information.

  

  Business response

  09/22/2023

  We would like to thank our customer for reaching out with the concerns addressed here.  As the customer is aware, Vanderbilt Mortgage and Finance, Inc. (VMF) did not originate this loan.  It was originated by a company, Ford Housing Finance Services, to which VMF now has a Power Of Attorney since acquiring the loan in 2005.  We can attest that the original title, which shows the name of the originator of the loan, does contain the customer's correct name and home location and information.  VMF will retain the title until the loan is satisfied, per the contract.   
  In order to address the pay history on the loan, VMF can only provide a pay history since we took custody of the loan and cannot attest to anything prior to the servicing start date of May 2, 2005.  We believe that we have provided the customer with sufficient pay history, when asked.  We have performed a review and have determined that no funds have ever been applied to escrow, and no escrow is established. Additionally, as this loan was originated as a simple interest loan, the payments are processed on the date received and credited towards the outstanding principal and interest. 
  Should the customer have any questions about any recent pay history that they feel is not accurate, we encourage the customer to respond back to our correspondence team requesting specific months of inaccuracy.  If the customer would like a copy of their original contract or an additional pay history, we are also happy to provide that.  We can be contacted at 1-800-970-7250, by email at [email protected], or by fax at 865-380-3418. 

  Customer response

  09/29/2023

  I was never given this follow up. I’m not sure why it was not sent to me.

   

  This is my response. 
  the title is not in the appropriate name and address. I have requested proof for years. 
  

  the representative seen on history the extra money I paid went into a escrow and was immediately taken out. 

  I do not see where my extra $4,000 is that I paid for my home. 
  please provide me documents showing where the extra went too.

   

  ******** Burton 
  

   

  

  Business response

  10/06/2023

  Vanderbilt Mortgage and Finance, Inc. has reviewed the response from the customer and would like to reiterate that the title will be sent in the customer's name once the loan is fully satisfied, per the contractual agreement.  Until the loan is paid out, VMF will retain the title. The title currently has the customer's name as well as the name of the original lender when the loan was created.  Should the customer need the title to have a different name listed, they can get it changed at the DMV with appropriate documents when the title is released to their custody for recording.
  
  As previously reviewed, there is no escrow account for the loan. Funds have never been applied to an escrow account due to an escrow agreement not being established at origination of the loan. 
  
  VMF researched the missing $4000 claimed in this response.  Throughout VMF’s research, we have not found any instances of payments of that amount during the time span of a reasonable period of months.  Should the customer believe that proof of these payments needs to be provided to us, we are happy to review. We have sent the customer a 12 month and recent pay history to demonstrate our application of funds. 
  
  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] and we will be happy to assist you.

• Initial Complaint

  08/28/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Vanderbilt Mortgage repossessed our mobile home in April 2019. We have still been getting bills for the property taxes for the home from our local Sheriff's office. The land did not go with the home and so we should not owe any taxes on the mobile home since its been moved and sold to another customer. But we have paid the taxes to keep from getting our names in the paper for unpaid property taxes.

  

  Business response

  09/08/2023

  *** ******t - Thank you for reaching out to us with the information you have provided in regards to the tax bills you have been paying. Unfortuntaly, Vanderbilt Mortgage and Finance cannot control how the County taxes property; however, you should be able to to visit the local assessors office to notify them that the home is no longer on the property. We suggest providing proof that the home has been moved when having future bills corrected and requesting a refund.
  
  We hope that this response adequately addresses your concerns. If you have any further questions, please feel free to reach out to us at 1-800-970-7250. Thank you for reaching out to us! 

*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. ↩