ComplaintsforVanderbilt Mortgage & Finance, Inc.

• Initial Complaint

  07/11/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  Had to take over my mother's mortgage when she died in a car crash she had been paying since 2006, when I took over the loan with in 90 day I discovered that she was 3 years behind on property taxes so I tried to work an arrangement with Vanderbilt and to my knowledge I had for them to pay the whole amount of 7160.19 after them saying my payment would increase from 981 . A month to 1164.77 they said till the loan was paid off so I agreed cause it was due to go to the tax sale I later find that the only paid one year then here come the the next year of taxes and the proceeds to tell that it was due and I need to pay them I had already told them that my mother left several bill and no insure and me being disable that I was having enough of a problem paying the new payment so they paid again and my payment went up to 1387.77 a month to find out that they had not made the tax payment then on May 31st osage sheriff posted on my door that my property was to be sold on the June 13 sale I contacted Vanderbilt on the first of June fought with them over the fact of them not paying all the taxes I had accumulated huge penalty finally the gave me no choice but to accept another increase 1678.19 a month so i sign the extention on the loan on june 6 i had to pay my monthly payment and a 550 extention fee and they would pay them all on the Friday before the sale June 10 they had still had not paid them I call Vanderbilt they gave me some kind big run around like I had never call and made any kind of arrangement which I had done still with no resolve so on Monday the morning of the sale I contacted the osage tax to find that had not paid Tha taxes and my property would be for sale now I find that my propertyhas been sold and no one from Vanderbilt has even attempted to contact me I find didn't pay the taxes is when a risk assessment for Vanderbilt couldn't find the house now I am going to lose my property this will put me and my daughters and 3 grandchild homeless

  

  Business response

  08/17/2022

  Business Response /* (1000, 5, 2022/07/21) */ When the contract securing the loan in question was signed, the mortgagor did not elect to enroll into an escrow agreement for property taxes. Due to this, the customer is responsible for making any and all property tax payments on the subject property. The only customer signed on the loan passed away in August of 2020, which is when Mr. began taking over payments on the subject property. VMF entered into an extension agreement to postpone payments in effort to allow Mr. Swift to pay the past due taxes on the home. VMF attempted to advance funds necessary to cover the outstanding tax balance, but the checks were rejected by the county tax office in order to move forward with the tax sale. Due to the taxing authority having superior lien when taxes are past due, VMF is unable to offer any type of remedy for this sale. Consumer Response /* (3000, 7, 2022/07/23) */ (The consumer indicated he/she DID NOT accept the response from the business.) when I took over the note I was to succeed the note and sent in several time the paperwork to do this and and on the payment extention iwas under the impression buy the paperwork I received which I did include show that I had received the advancement paperwork and sign and returned them in plenty of time to prevent my mother's property going to sale and they tried to lowball the tax office and if Vanderbilt would have sent the poper amount as per the agreement that I signed then it would have been OK and if they would keep to there agreement I could still pay back the individual that paid the taxes on the sale all Vanderbilt would have to do is forward the funds to the county treasurer to pay the agreed back taxes as the advance contract I signed with a additional fee of 10% plus the cost of advertisement I could still get my mother's property back of all the mo ey I had to give them to get the payment advance and the amount of my.incresed payment and with Mr being disabled and on a fixed income which Vanderbilt has know this fact since my mother passed away cause this is why that the paid the minimal amount on the taxes three different times which each time incresed the amount I had to pay each month three different times so no the didn't give me payment extention to help me pay they made three different essrow advancement arrangements and they were to pay the taxes and then when they dropped the ball they just stop talking to me and refuse to do the right thing and help me get this my mother's property back to me Business Response /* (4000, 9, 2022/07/28) */ Mr. indicates that he took over the note, however the Successor in Interest application was never completed. VMF required a driver's license and proof of the ownership transfer of the home from the deceased VMF customer to Mr.; this was never received. In response to the complaint about the advance paperwork, VMF contacted the county clerks office and was advised of a redemption amount necessary to prevent the home going to sale. This amount was paid by VMF but was rejected by the tax office. The advance letter was sent based on funds being pulled to pay the taxes. This letter became null once the check for the taxes was returned and funds applied back to the loan. Additionally, VMF attempted to pay the fully owed tax amount, which was also rejected by the county as the tax sale had completed. An additional advance letter was sent at the time of the full tax payment, but since the check was also voided, the letter is null and funds were applied back to the loan. VMF was alerted that the county recorded the deed from the tax sale on 6/14/22 thus removing ownership of the loan from VMF. VMF also does not assess any type of fees (specified here as "10% plus the cost of advertisement) associated with payments of advances or other non-contractually referenced fees. If this fee was one assessed by the county treasurer, VMF would not have the ability to waive this. VMF expresses apologies to Mr., but took several measures to prevent the home going to sale. VMF granted Mr. a 3 month extension (by not requiring mortgage payments for that 3 month period) in effort to allow him to pay the past due taxes or make acceptable arrangements to prevent the home from going to sale. Due to the home not being set up on an Escrow Agreement for property taxes, the borrower or property owner is responsible for all property taxes.

• Initial Complaint

  07/08/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  NOTE: Vanderbilt Mortgage & Finance is Dba Silverton Mortgage. I was working with, website link here: https://silvertonmortgage.com/nashville/ I locked a rate with Silverton mortgage on 1/27/22 for 180 days while building a new home. I had reached out to the MLO who, informed me, that he had cancelled my loan because I had evidently told him I was going with a different lender. This is not true. I never once told them after 1/27/22 that I was going with a different lender, in fact, I had no contact with the MLO from Silverton until 7/6/22. Not only did he cancel my loan without my request, consent, or any other reason he lied to my face and told me I called him in February to alert him. This, too, is false. I parsed phone records from February from my provider and found no phone call to or from the MLO at Silverton. I parsed emails to him, the last one I sent was 1/27/22 when I signed the 180 day rate lock disclosures. I had finally contacted his manager and he had attempted to fix it, stating he has never had anything like this happen in the 3 years he has managed the branch. This entire process has been stressful enough dealing with renting, landlord being pushy, construction delays, flaky timelines from the builder, and the cherry on top is a completely inept MLO. I understand we all make mistakes, but not only is the MLO not owning the issue he is lying to attempt to get around it. There is no paper trail regarding me allegedly wishing to cancel the loan, and the MLO is attempting to fabricate one to avoid consequences. Even if this is resolved in my favor this complaint should be taken seriously by Silverton Mortgage. Not only could this MLO cost me tens of thousands of dollars, the stress from this is completely unnecessary and should have been avoided entirely.

  

  Business response

  08/17/2022

  Business Response /* (1000, 5, 2022/07/19) */ Vanderbilt Mortgage and Finance, Inc. D.B.A Silverton Mortgage received your credit application on Jan. 19, 2022 and issued related disclosures on Jan. 21, 2022. The rate was locked beginning on Jan. 27, 2022 and was valid through July 26, 2022. VMF provided a Loan Estimate (LE) detailing this information. After the rate lock was issued, contact with you ceased and as of Feb. 16, 2022 there were outstanding documents missing which prevented the underwriting step from being completed. Because you indicated that you no longer wished to pursue the application process, the application was cancelled on Feb. 28, 2022. No further contact between our company and you until July 8, 2022. Since the application is effectively cancelled, we can no longer use that application, but we are happy to restart the application process if you choose. We regret any confusion or hardship resulting from the cancellation. VMF DBA Silverton also responded to a related CFPB complaint on 7/18/22.

• Initial Complaint

  06/01/2022

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  On 4/12/2022 a payment was made in the amount$16451.00. On account 768207. This paid off my mobile home. I was supposed to receive my title within 10 business days and a reimbursement of an insurance check in the amount $4200.00I have been going around and around with Vanderbilt. When I called about it they were saying I still owed $550.00. They never did say anything about that 500 when I made the full payment. I called and told them to take the 550.00 out of the insurance check they owed me. Til this day 05/31/2022 I have not heard from them or received anything from them. Please help

  

  Business response

  06/24/2022

  Business Response /* (1000, 5, 2022/06/13) */ VMF has worked with the customer to complete the payoff and have provided the correct refund after the payoff was processed. We apologize that the customer felt there was unnecessary delay in the payoff and refund process, but VMF took all necessary steps to ensure the accuracy of the payoff and the refund calculations. The customer has been contacted to confirm the receipt of the refund. Consumer Response /* (2000, 7, 2022/06/13) */ (The consumer indicated he/she ACCEPTED the response from the business.) I have received the check and title by FedEx 3 days after I reported it to the BBB

• Initial Complaint

  04/27/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  For the last month I have dealt with Vanderbilt Mortgage and Finance in an attempt to purchase a mobile home we have reached the stage of pre approval but each time Vanderbilt Mortgage and Finance has denied the home in question based on policy's that aren't written or told to the consumer The first home fell through and we where given multiple reasons from it had a door to it had an addition for the reason why they would not process the loan on it the second property we attempted to purchase they denied due to another "policy stating that they won't process a loan if it's a business to individual sale I have asked to see these policy's in writing and I have been been denied and told that they are internal policy's only and that Vanderbilt does not have to tell the consumer or list these policy's Vanderbilt Mortgage and Finance has shown a complete lack of ethics morals and transparency in the way they run there business I feel like I have been discriminated against and taken for a ride by this company when they had no intentions of ever helping us purchase a home

  

  Business response

  06/06/2022

  Business Response /* (1000, 5, 2022/05/09) */ We apologize for the confusion our customer has experienced with the home financing process. The original application for Mr. was received on 4/6/2022. The applicant is currently approved for financing with Vanderbilt Mortgage and Finance, Inc. Mr. has been advised that the homes that he wanted to finance did not qualify for financing based on our lending criteria. He was also advised that the information regarding not being able to finance certain homes was available on the website. Mr. is still approved for financing and can move forward if a home is found that meets the criteria for Vanderbilt Mortgage and Finance, Inc. Consumer Response /* (3000, 7, 2022/05/10) */ (The consumer indicated he/she DID NOT accept the response from the business.) The terms of financing are not clearly outlined on the website nor are they told to the consumer when they are preparing to finance with this company furthermore when asked to see the policy's of this company I was refused and told they are internal policy's and I would have to cut through there corporate red tape before I would see them and to top it off Vanderbilt now owes me $500 for my deposit Plus another $100 in application fees for the two property's they have caused me to lose as well as causing my family to become homeless in the process and just genuinely not caring Business Response /* (4000, 9, 2022/05/11) */ We sent refund to the customer on 5/2/2022 of $500. We have no record of receiving any additional funds from the customer. The customer submitted 3 different homes for us to review for financing and unfortunately none of them met our financing criteria for the Direct Lending programs. Within the Direct Lending group we do not finance mobile homes with additions added, park models or home sold by a business. There is reference on our website VMF.com under Frequently Asked Questions that would be good source for him to review. Look under Direct Lending under Frequently Asked Questions.

• Initial Complaint

  03/21/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I have consistently begged Vanderbilt Mortgage to refinance my mobile home loan because I cannot afford the payment because of my circumstances change when the loan was originated from income reduction. I have asked to add 6.5 more acres to the property as collateral to refinance. I continue to receive letters of denial from Vanderbilt Mortgage stating they reasonable believe that I can pay the large sum monthly amount of $500. I recently had to get a 17,000 loan to complete maintenance on the mobile home because of the poor manufacturing of the mobile home for with the monthly payments are $420. I would and need to have the mobile home refinanced to a payment of about $300 a month to finish paying off the loan. I'm an trying to finish paying this debt off. I'm begging for help in refinancing with collateral.

  

  Business response

  04/12/2022

  Business Response /* (1000, 5, 2022/03/29) */ We are very sorry for the frustration that has experienced regarding her refinance inquiry. Unfortunately Vanderbilt does not offer refinance options at this time. We did put account through our formal assistance request process and it was determined that her debt to income ratio, as well as her housing ratio indicate that the home at it's current payment is affordable. In addition, we have extended four extension offers over the life of the loan in an attempt to ease any temporary financial hardship. does have the ability to reach out to other lenders to look at refinance options. We encourage to reach out if she has any further questions. We can be reached Mon-Thursday 8:30 - 8:00, Friday 8:30-5:30 EST at 1-800-970-7250. Thank you

• Initial Complaint

  03/08/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Fell on hard times and was trying to figure out a way to make payments. I filed an application for assistance with this company back in January. Was told it could take up to 30 days. Didn't hear anything back from them until a sheriff knocked on my door with a court summons. I reached out to Vanderbilt and told them the situation and they were adamant that they called and sent emails stating that they reached out to me. I have call logs from my carrier and email logs proving there has not been any correspondence from this company. Then I proceeded to speak with the supervisor Natalie who stated that I needed to come up wit $3000+ within 24 hours so they can "look" into helping me get assistance while being extremely condescending. When I asked for record of their responses and emails that were supposedly sent to me, she stated that it was basically not going to help. Anytime I asked a question about when I attempted to make a payment back in January, she pawned it off on another department even though my account had been in her department since December.. then she kept threatening to disconnect the call when I asked her to make sense of it. She finally stated that my account had been blocked from making payments so now I have no clue where any of my money went.. This company is irresponsible and blames it either or you or another department.

  

  Business response

  04/19/2022

  Business Response /* (1000, 5, 2022/03/22) */ On March 7th called in and spoke to a Vanderbilt Mortgage and Finace, INC("Vanderbilt")Representative.. advised that she did not received any correspondence related to an extension on her loan. The Vanderbilt Supervisor advised. of the balance owed and that all information regarding the possible assistance options was mailed, dates Vanderbilt attempted contact via telephone and email. The Vanderbilt Supervisor discussed multiple phone calls were made in an attempt to advise. of the approved assistance on her loan. The Vanderbilt Supervisor advised. that the extension offer had now expired.. proceeded to advise that she did not have funds to resolve the past due balance.. then asked if she had the option to sell the home back to Vanderbilt. The Vanderbilt Supervisor explained a voluntary surrender and offered. relocation assistance.. called back on March 8th to advise that she has decided to surrender the home back to Vanderbilt and agreed to accept the relocation assistance. Consumer Response /* (3000, 7, 2022/03/30) */ (The consumer indicated he/she DID NOT accept the response from the business.) The representative did NOT advise of dates that they tried to contact me. I have even offered to send in call logs to verify that I had not received any calls from them. I asked in an email for all possible emails sent out to me and I have yet to receive anything prior to me reaching out for assistance. Also asked for correspondence after the voluntary surrender of the home was sent and was told I would receive a phone around 3/21/22 to ensure the document was received but instead I have only gotten knocks on my door from the sheriffs office stating that there's a court date.

• Initial Complaint

  02/28/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Sold our house. Closed 12/17/2021. Was to be issued funds from escrow account and monies left over from sale price. $602 & $1716. Checks issued, deposited into bank then returned to maker. Contacted Vanderbilt at least 7 times. Dates get pushed out everytime. Have caused severe overdraft fees for me and still no resolve from them. Just more dates to issue. They issued them cancel, the checks sent back to them and my account gets severely overdrafted. Need monies they owe me and overdraft fees resolved by then due to they're irresponsibility handling this matter. It's been over 2 months! On Feb 2 was told 7-10 business days. On Feb 14 same story. Today was told Feb 25 checks have been "approved" to send once again. But (the supervisor I spoke with today) see's no information on dates of reissue. I'm at a loss and totally irritated. This company has been less than professional and knowledgeable all the way thru this whole transaction since the beginning of the sale of our home. The people that bought our home are financed with Vanderbilt also. Practically everyone involved oN Vanderbilts and we're chaotic and confusing to say the least. They acted as if they didn't know laws, rules and regulations at all through out the whole time. Was exasperating to say the least to get information correct. Closed on Dec 17 .. Jan 10 received a call from them wanting our January payment to them ON THE HOME WE SOLD AND CLOSED ON. How does a business of this size not know this??? At this point I just want what is owed to me and overdraft fees corrected. The A+ score they have isn't earned as far as I'm concerned. Thank you

  

  Business response

  04/04/2022

  Business Response /* (1000, 5, 2022/03/11) */ We apologize for the confusion our customer has experienced with the payoff process. VMF received the payoff funds on 1/14 and began processing the two refunds mentioned by the customer. The smaller of the two disbursements was issued on 1/28 and the second was issued on 2/1. We were contacted by Mr. ***** on 2/1 and advised of a different address that the refunds needed to be sent to. The address was updated to reflect the correct address and the second refund was mailed to the correct address. On 2/7, we received the first disbursement back in return mail and a request was sent to reissue to the correct address. We were contacted by the customer on 2/14 who inquired about the initial disbursement check and were informed that VMF was processing the reissue. On 2/15, both of the checks were stop-paid in order to reissue, one of which was incorrectly cancelled. We sincerely apologize for the oversight. We communicated with the customer once again on 2/17 and advised that both checks had been cancelled and that we were processing the new refunds. On 2/18, the customer contacted us to state that they had deposited the larger disbursement on the advice of their bank and that the funds had returned. VMF communicated with the customer again on 2/23 and was advised that the refunds were still processing to release. We were contacted by the customer on 2/28, who escalated and spoke with a supervisor in Customer Service. The customer was advised that we would expedite the refunds and mail to the correct address. The refunds processed on 2/28 and 3/1, and checks were sent to the correct address as provided by the customer. We contacted the customer on 3/2 to advise of the refunds being issued and advised the customer to send proof of overdraft and that we would review for reimbursement. We received the information on 3/8, and are currently reviewing. We will follow up with the customer as soon as we have resolution. Once again, we sincerely apologize for the oversight and the frustration it resulted in for our customer. We invite the customer to contact us should there be any additional questions or concerns at X-XXX-XXX-XXXX.

• Initial Complaint

  02/21/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  In January I submitted a preliminary application (to get preapproved) for a mortgage. The credit score determines the loan terms. Having a good idea of what my credit score is, I submitted the application. Had I any idea that Vanderbilt would literally lie, I would NOT have submitted the application. This means that Vanderbilt obtained my application and initiated a credit inquiry based on false pretenses (a form of fraud). I'm enclosing a copy of the exact email that was sent to me from Ms. Brittney Bridgeman of Vanderbilt on January 18th. As you can see, she says Vanderbilt strictly goes by TransUnion credit scores, and that because my credit score is 660, I am ineligible for more favorable terms. To be clear, this was no error on her part, as she sent this email in response to me calling and trying to find out how it was my credit score could have moved up at the other two bureaus, but gone down at TransUnion! So she was well aware there was a discrepancy with the score she was telling me I had. So on January 18th, Vanderbilt explicitly told me in writing (see the enclosed email) that my TransUnion credit score is 660 to disqualify me from more favorable loan terms. On February 4th, I ordered my own credit score from TransUnion. See the enclosed copy of my TransUnion credit score. There's no way my credit score shot up 100 points between January 18th, which was the date of Brittney Bridgeman's email to me, and February 4th, which is when I ordered my score. Vanderbilt is literally caught lying about my TransUnion credit score to offer less favorable terms. This means the inquiry to my credit report was based upon deception. I didn't consent to Vanderbilt pulling my credit to lie about my score. Why pull a credit report/score if you're going to lie about it anyways? With this kind of dishonesty, Vanderbilt had no business pulling my credit report in January or the first time in 2021. Vanderbilt needs to retract this.

  

  Business response

  04/04/2022

  Business Response /* (1000, 5, 2022/03/08) */ Vanderbilt is in the process of addressing Mr complaint via the CFPB complaint that was submitted as well. More information will be provided through that avenue. Thank you! Consumer Response /* (3000, 7, 2022/03/16) */ (The consumer indicated he/she DID NOT accept the response from the business.) VMF completetely sidestepped the issue, which is they lied about my credit score, and therefore pulled my credit based upon fraud and deception. Nor have they taken any steps to correct this. Their refusal to address this will only result in me taking them to court. So they may want to fix this ASAP.

• Initial Complaint

  01/11/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Vanderbilt Mortgage Account Number: 1389671 Upon review of my credit report, I found Vanderilt Mortgage still reporting late payments for the months of July and August. I have been told by numerous agents, supervisors, and representatives in the legal department of Vanderbilt Mortgage that they would remove those late payments. This removal was contingent upon me actively serving in the military and the sole provider for my household during COVID in July and August of 2021. These late payments have not been removed per what was told to me. The legal department advised me to send in a copy of my military orders as proof of my service. I have sent my orders in twice and still have not gotten the July and August late remarks removed. The legal department then advised me to write a letter to the BBB. Please assist me in having this removed as I am at risk of maintaining my security clearance with the United States Army. I have attached a copy of my orders.

  

  Business response

  02/08/2022

  Business Response /* (1000, 5, 2022/01/25) */ We apologize for the confusion our customer has experienced with our credit reporting process. We have thoroughly reviewed account and have found no indication of any promises of removal being made. We have responded to multiple requests and also mailed letters on 11/11/21, 11/17/21, and 1/21/22 advising that our reporting was accurate and we were unable to change it. VMF has also reviewed the customer's military status and has determined that all benefits are being provided as our customer was active military upon origination. We apologize for any inconvenience this may cause, and invite our customer to contact us if he would like additional copies of the responses provided. We can be reached at 1-800-970-7250 Monday - Thursday 8:30 AM - 8:00 PM (EST) and Friday 8:30 AM - 5:30 PM (EST).

• Initial Complaint

  01/06/2022

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  This company has pulled my credit without my authorization. I have not purchased a home I have not applied for a loan. I did NOT authorize them to pull my credit. My credit score has now dropped because of these inquires. I have put a fraud alert and a freeze on my account because I have recently been hit with several hard inquires from loan and financial company which again I DID NOT authorize. I would like them all removed please.

  

  Business response

  02/03/2022

  Business Response /* (1000, 5, 2022/01/17) */ Vanderbilt Mortgage has conducted a review of the complaint and has confirmed receiving a completed and signed credit application authorizing Vanderbilt Mortgage to pull and review credit. This application was submitted through our online website on 5/6/2021. Based on this finding Vanderbilt Mortgage is unable to remove the credit inquiry but can submit a written request to receive a copy of her application to Credit Services Application Entry 500 Alcoa Trail Maryville, TN 37804.

*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. ↩