ComplaintsforColonial Savings, F.A.

• Initial Complaint

  04/11/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  While dealing with late payments my account was downgraded to only being able to pay with certified funds, I was never notified, after speaking with a representative they new my address was incorrect for years but did not update.The payment methods on their site are not accurate and all literature that the provided in regards to payments had zero information. A financial institution should not be able to extract more money in late fees for those that are first experiencing payment issues and not providing the correct and accurate ways to pay funds

  

  Business response

  04/19/2022

  please see response

  Customer response

  04/21/2022

  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,
  
  *********************

  

  Business response

  05/02/2022

  Please see attached response.

• Initial Complaint

  03/29/2022

  Complaint Type:

  Delivery Issues

  Status:

  Resolved

  More info

  Please refer to the letter that has been uploaded.

  Customer response

  03/30/2022

  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. I have received a call from Yue at CU Members mortgage  following up with my complaint to the BBB, and I have a check coming via Fed EX. Thank you for your assistance.
  
  Regards,
  
  *****************************

• Initial Complaint

  02/23/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  We paid off our mortgage Nov 2, 2021 and our Satisfaction of Mortgage has not been filed. We have been lied to by representatives of the company regarding them filing the Satisfaction. We have spent numerous hours speaking with representatives with no resolution

  

  Business response

  03/07/2022

  We have received your most recent correspondence in our office on February 23, 2022. It is our goal to provide excellent customer service, and we sincerely apologize that our service did not meet Mr. ******* expectations. After reviewing the account, we have prepared the following response.
  
  When a loan pays off the Release of Lien is prepared and mailed to the County for recording, and as we advise in our payoff statement and paid in full confirmation letter. Releases are prepared in the order in which loans are paid off and we process them as efficiently as possible. Due to the ******19 pandemic, we have experienced unusual delays in processing release of liens as a result of increased volume, reduced office hours, and adhering to strict safety protocols.
  
  Please be advised that Mr.******* release was escalated by a supervisor and was sent to the county on January 10, 2022. The check that was sent for recording fees was never cashed and the recorded document was never returned to us. On February 23, 2022, we sent a new Release document via Federal Express with tracking number: **** **** **** which reflects that it was delivered to the County on February 28, 2022. As of March 7, 2022,we have not received the recorded release from the County. We will send the release document to ********** as soon as it is received from the County. A copy of the release that was sent on February 23, 2022 is enclosed for your review.
  
  Please feel free to contact us with any additional questions. Our representatives can be reached Monday through Friday, 8:00 am to 5:00 pm CT at **************.
  
  Sincerely,
  
  Customer Advocacy Team

• Initial Complaint

  01/26/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I am a new customer of your ********************** servicing business.Two months while making my first mortgage payment, I had a problem with Colonial online payment system. When I input payment information and clicked submit, the system didnt respond , then I clicked submit again and my payment was processed. However, when I checked my bank account next day, there was a duplicate payment. I called your mortgage customer service and requested the duplicate payment to be reversed since it was resulting in negative balance in my account. I was told to my surprise that It was my fault and they couldnt help me. But I was able to work with my bank to reverse the duplicate payment. However, I was charged a $50 by Colonial mortgage for insufficient money in my bank. I called the customer service again and explained the situation but to no avail. I was told it was my fault and I have to pay the $50.I think it is wrong to charge me $50 fee when 1) this was an error originating from Colonial online payment system and 2)There was no payment due when my bank reserved the duplicate payment at my request .

  

  Business response

  02/09/2022

  We have received your most recent correspondence in our office on January 26, 2022. After reviewing the account,we have prepared the following response.
  
  Mr. Daars first payment was due on December 1, 2021, in the amount of $2,026.40. On November 30, 2021, ************ set up a one-time payment to draft the same day, with a confirmation number of **************. ************ attempted to set up a second payment to draft on November 30, 2021, however the system gave him an error message as it does not allow for two payments to be set up with the same draft date. ************ set up another one-time payment on November 30, 2021, to draft on December 1, 2021,with a confirmation number of **************. A copy of his payment history is enclosed for your review.
  
  On December 3, 2021, one of the payments was returned by his banking institution as insufficient funds (***).As a part of our process a letter was sent to ************ to inform him of the returned payment and a fee was assessed to his account in the amount of $50.00.As a one-time courtesy we waived the *** fee. It is our goal to provide excellent service and we sincerely apologize that our service did not meet Mr.Daars expectations.
  
  Please feel free to contact us with any additional questions. Our representatives can be reached Monday through Friday, 8:00 am to 5:00 pm CT at **************.
  
  Sincerely,
  
  Customer Advocacy Team

• Initial Complaint

  01/11/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  1. Colonial Savings FAILED to apply payments correctly. 2. COLONIAL FAILED to properly explain the covid forebearance and as a result; I missed the opportunity of an addition 6 months assistance. 3. COLONIAL FAILED to disclose and assist me for the *** program of TX. I have asked several times for a call back since Sept. 2021 and NO ONE PHONES TO ASSIST. 4. I have a loss and no one phones, again, countless calls and promises of manager will phone back. ********************* is collecting a HUGE OVER INFLATED salary on OUR mortgage backs and does NOTHING to provide solutions, and ZERO customer service! RESOLVE POST HASTE! ********************** has been informed TIME IS OF THE ESSENCE, knowing to ignore my calls, I miss deadlines and opportunity, NO PROFESSIONAL, NOT ACCEPTABLE!

  

  Business response

  01/27/2022

  We have received your most recent correspondence in our office on January 11, 2022. It is our goal to provide excellent customer service, and we sincerely apologize that our service did not meet **************-Perrys expectations. After reviewing the account, we have prepared the following response.
  
  As to **************-Perrys assertion that payments are not applied correctly, please note that we received funds to pay toward escrow on July 1, 2021; August 2, 2021; October 25, 2021; and January 4, 2022. All of the escrow only payments have been properly applied.
  
  On September 1, 2021, ************************ set up a one-time payment with a ******** Service Agent, however that payment was returned due to incorrect account information due to agent processing error. On October 1, 2021, she spoke with a Loan Counseling Supervisor in order to determine the cause of the returned payment. The supervisor advised that the routing number was not processed correctly, and she offered to take a replacement payment. A payment was set up, however, it was never drafted due to a system error.
  
  On October 25, 2021, ************************ spoke with a ******** Service Supervisor who took a payment in the amount of $2,760.63 to replace the payments that had not drafted plus draft an escrow payment. On December 3, 2021, ************************* set up a one-time payment in the amount of $920.21 to post toward escrow however, that payment was returned due to incorrect account information due to agent processing error.
  
  ************************* first contacted us regarding the CARES Act forbearance plan on June 10, 2021 and has been on the forbearance plan since that date. Please note that while on the forbearance plan, ************************* is not obligated to pay any funds toward the escrow account as the payments are on a forbearance plan. As of January 26, 2022, the forbearance plan is in place until March 31, 2022. Based on the initial start date of the forbearance plan, **************-Perrys account is eligible for a total of eighteen (18) months of forbearance plan protection. She should contact us in March 2022 to advise us if the hardship has been resolved so that we can assist her with post forbearance options.
  
  As it relates to **************-Perrys concerns regarding any Homeowners Assistance Funds (HAF), programs are administered by the individual states and municipalities. ************************* will need to contact her local municipality for assistance with any HAF funds which may be available to her. We will assist with providing the funds administrator any information to expedite the process. ************************* should call our ************************** at ************** to request assistance with any HAF applications.
  
  As to **************-Perrys hazard insurance claim, please note that we received claim funds on September 29, 2021.Per investor guidelines, we must monitor/inspect the completion of the repairs and the release of funds to ensure the mortgaged premises are repaired sufficiently. The initial draw was released on October 11, 2021, and a subsequent draw was sent on December 8, 2021. The final draw was sent on January 18, 2022. The ********************* can be reached at **************.
  
  We have reviewed our notes and call records and determined that several different supervisors and a manager have made telephone contact with ************************* since September 2021 to resolve her issues.
  
  Should you have any additional questions or would like to request documentation, representatives are available to assist you Monday through Friday, 8:00am to 5:00pm CT by calling *************.
  
  Sincerely,
  
  ******** Advocacy Team

• Initial Complaint

  01/05/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  On February 17, 2021, our house suffered major damage from Winter Storm Uri. After months of battling our insurance company and supply chair shortages, we are now at the point of rebuilding our home. Unfortunately, Colonial Mortgage does not want to help with that process. Our journey on this claim started around April 22nd when Colonial received our first check from insurance in the amount of $44,984.96. We submitted all paperwork in a timely fashion, but did not hear back from them until mid-July when they finally cut the first check to us for $40,000.00. We kept those funds in savings until our insurance claim was looked at in further detail. At the end of July (5+ months after the damage), we finally made progress with insurance and they sent another check for $118,487.84 which Colonial received on 8/10/2021. (The total claim from insurance will eventually be $230,606.01.) During this time, we started working on finalizing details with our contractor. In mid-October, our contractor was ready to start work, but we had not received any more funds. We paid our contractor $42,627.49 at this point. You will notice this is more than the $40k we initially received and now they needed their funds for HVAC work and plumbing and electrical. On 11/18/2021, Colonial once again asked for the Public Adjuster's report and we sent it as requested. despite them having it in their file on 7/12. On 11/28, I followed up on our request for more funds. Colonial, for reasons unknown to us, needed insurance to give permission for them to release funds. Our insurance adjuster had never had to do this before and thought the request was odd but went ahead and said it was ok on 11/29. On 11/30, Colonial sent $13,946.02. However, now we had paid $86,430.79 ($32,484.77 above what Colonial has sent to us). To speed up this reading and see the rest of the story, see the full complaint attached.

  

  Business response

  01/19/2022

  We have received your most recent correspondence in our office on January 5, 2022. It is our goal to provide excellent customer service, and we sincerely apologize that our service did not meet Mr. ******* expectations. After reviewing the account, we have prepared the following response.
  
  Per our records, we were initially contacted by **************** on April 13, 2021 in reference to his property loss claim exceeding $40,000.00. Claims of that size require monitoring and a scheduled release of funds to ensure the mortgaged premises are repaired sufficiently. A copy of the claims packet mailed to **************** is enclosed. Please note that the disbursement schedule is based on funds received from the insurance company and as repairs and inspections are completed.
  
  On April 26, 2021, we received a check in the amount of $44,984.96 and your initial claim documentation, however the Adjusters Report was not included. The required Adjusters Report was received on July 8, 2021 which initiated the claim process and a disbursement in the amount of $40,000.00 was issued based on the disbursement schedule. On August 11, 2021, we received an additional check in the amount of $118,487.84 along with the Adjusters Report, however due to the  Adjusters Report being completed by a third party, this required verification with the insurance company. An agent in our ********************* attempted to call the insurance company to verbally verify the third party Adjusters Report and left a message.
  
  On September 30, 2021, we were able to verify with the insurance company that Adjusters Report was accurate.Once the report was validated, we initiated contact with the authorized third party, ************** Services, to inquire if the property was ready for an inspection to proceed with the additional claim disbursements. ************** Services returned the call on October 7, 2021 and advised that the property was not ready for an inspection.
  
  On November 30, 2021, we reviewed the claim and determined that we had received a total of $163,472.80 and our initial disbursement of $40,000.00 only represented part of the initial draw as it was less than 33% of the total amount of funds received. On November 30,2021, we disbursed funds in the amount of $13,946.02 to bring the total initial disbursement to $53,946.02. In order to release additional funds, we would need to receive an inspection reflecting at least 33% completion.
  
  A property inspection was requested by ***************** on December 22, 2021. The inspection was completed on December 28, 2021 and we received it on December 30, 2021. The percentage of work completed was only 25%, however, a Supervisor approved the release of $27,780.38, which represents 50% of the total claim funds received to date.
  
  In order to have the subsequent draw checks disbursed, **************** will need to contact us to schedule inspections. Upon our receipt of inspection reports, which reflect repairs completions, additional funds will be disbursed.
  
  Please feel free to contact us with any additional questions. Our representatives can be reached Monday through Friday, 8:00 am to 5:00 pm CT at **************.
  
  Sincerely,
  
  Customer Advocacy Team

  Customer response

  01/22/2022

  Complaint: 16427831
  
  I am rejecting this response because:

  
  

  The response from Colonial is a bit quizzical as all it really does is provide similar dates to what was in the initial complaint.  It does show the disconnect that we are experiencing when trying to discuss our situation with them.

  
  

  To date, we have paid our contractor $101,904.59 of a $227,045.55 claim.  Colonial has received the Public Adjuster/Insurance report multiple times, but they continue to only look at the funds they have received.  Since Colonial has released a total of $81,736.40, that means we have currently paid out of pocket $20,168.19.  We are fortunate that we have the means to provide these funds (although we are now paying interest on debt owed/losing interest on savings funds).  We are concerned about how Colonials other customers fare, because we know they have not shown much compassion to us.

  
  

  I also question if they know how a house has to be rebuilt following such a loss.  We gave them our contractors draw schedule.  Obviously a lot of these upfront costs are going to  be demolition, prep work, and securing materials during unprecedented supply chain issues.  These things do not always translate into a completion percentage.

  
  

  Clearly insurance is not going to release the depreciated funds until work is complete.  Colonial is steadfast in that they will not release any more funds until they see 50% complete.  At this point, almost 1 year since we lost our home, we are looking at figuring out how to pay the remaining $125,140.97 out of our own funds.  I have to question what Colonials motive is to continue holding funds instead of getting their collateral repaired.

  
  

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

• Initial Complaint

  12/20/2021

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Good morning. I received a notice a few months ago that my escrow account was short and that my mortgage payment would need to go up and/or I owed the shortage. The reason for this is that the title company and closing agent did not include half of the taxes I pay into the escrow charges - they were figuring my payment out based on about $2,000 instead of about $4,500. I refinanced in the spring for a decreased interest and a shorter term loan. I was told that the payment I would be expected to make was going to be around $1,200 and the escrow amount would be about $200. The correct amount - and the amount that I was paying with the same company on my previous loan was $400. My mortgage amount should never have been quoted to me as $1,200 - it should have been $1,400. If that was what I would have been presented with before the whole refinancing, I would not have refinanced. As it is, $1,400 would be a stretch for me. The $1,600 that they are asking for until I catch up to where I was supposed to be is not possible for **** have emailed the company through their portal (screenshots attached of contacts on 11/12, 12/06, 12/08 and another on 12/8). I also emailed the two agents I was working with (screenshot attached) and got no response.They called me and agreed that it was an oversight on their part but the only help they offered to me was to let me pay $1,500 over 24 months, which is also too much for me and probably would be charging interest as well. I am including the final closing and my latest statement, which shows the change in escrow from $199 last month to $559 next month.I believe that at least part of the $3,600 I paid in closing costs should be returned to me in the form of back escrow and that I should begin paying the amount that would have been correct in the first place. If there would be a way to get my total payment closer to $1300, that would be more doable for me. They were not helpful when I asked them to work with me on this.Thank you.

  

  Business response

  01/05/2022

  We have received your most recent correspondence in our office on December 20, 2021. It is our goal to provide excellent customer service, and we sincerely apologize that our service did not meet ******************** expectations. After reviewing the account, we have prepared the following response.
  
  We have reviewed the Preliminary Fee Summary and initial Closing Disclosure which were provided to ****************** on May 14, ******************************************************************************************************** the amount of $1,450.71. When the final Closing Disclosure was prepared the real estate taxes were not included in the estimated escrow payment. Copies of the fee summary and closing disclosures are enclosed for review.
  
  ******************** first payment for this refinanced mortgage loan was on August 1, 2021 and her escrow payments were in the amount of $198.88. On August 11, 2021, we disbursed funds in the amount of $2,471.21 to pay the school taxes that were billed for this property.On October 18, 2021, ******************** escrow account was analyzed and her payment increased from $1,242.19 to $1,602.40 effective with the January 1, 2022 payment. ******************** escrow payment increased from $198.88 to $405.59 and a shortage was determined in the amount of $1,842.00. ****************** has the option to pay that shortage in full to reduce her payment to $1,448.90 per month,which is Option 2 on the escrow analysis statement. A copy of the escrow analysis statement is enclosed for review.
  
  Please be advised that real estate taxes are a separate debt from the mortgage loan, although ******************** escrow account collects and pays those taxes as a part of the mortgage loan,the taxes are the sole responsibility of the homeowner and we will not reimburse or credit any funds to ******************** escrow account.
  
  At ******************** request, we can assist by spreading the shortage amount of $1,842.00 across 24 months, 36 months, 48 months, or 60 months to help reduce the monthly payment. We have detailed her monthly payments options below should she choose to pay the shortage in full,or request a spread of the shortage.
  
  Please feel free to contact us with any additional questions. Our representatives can be reached Monday through Friday, 8:00 am to 5:00 pm CT at **************.
  
  Sincerely,
  
  Customer Advocacy Team

  Customer response

  01/10/2022

  Complaint: 16378782
  
  I am rejecting this response because:
  

  
  

  I had been with Colonial for five years prior to the refinance. They have always handled arranging my payments for the correct escrow and my taxes have not changed. This was a clearly avoidable miscalculation. I was very open and clear with the agents handling the refinance - as a single mom, I was very wary of getting in over my head - which is where I now find myself. This error was made by Colonial and it put me in this very difficult position. I feel that I should be at least partially compensated through a refund of my closing costs.
  

  
  

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

• Initial Complaint

  12/01/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  They sent me a letter saying they needed a copy of the insurance provided by the **** I contacted them once with the info for the *** (who will not provide me the info but says they will provide it to them if they contact them). They obviously didnt do that and sent me another letter asking for the same thing this time instead of calling I thought I should get it in writing to prove I provided the information. They refuse to communicate. Their customer service message center insists you call the **** number wait on hold for exorbitant amounts of time then to be told a supervisor will call you back (who never calls back) They are impossible to work with and go out of their way to make it impossible to prove you have tried to provide the requested information. I want a direct e-mail or physical address (if they would like to pay for postage) of someone I can communicate with in writing. I have been forced to take time off work to call their customer service number only to not get a resolution or a promised call back. Additionally I am pretty sure this is a ADA ********* some people have disabilities that wont allow them to talk on the phone. I will also be reporting this as an ADA *********.

  

  Business response

  12/22/2021

  We have received your most recent correspondence in our office on December 12, 2021. It is our goal to provide excellent customer service, and we sincerely apologize that our service did not meet Mr. ********* expectations. After reviewing the account, we have prepared the following response.
  
  A supervisor in our Insurance Department has reached out to the insurance agency for the condo association on December 14, 2021 and on December 21, 2021 and faxed written requests to obtain evidence of insurance, however as of December 21, 2021, we have not received the requested insurance policy. Additionally, the supervisor has called ******************* and left him a voice mail. Evidence of Insurance should be sent to Colonial Savings F.A., *******************************************************. The Insurance Department can be reached at **************.
  
  Please feel free to contact us with any additional questions. Our representatives can be reached Monday through Friday, 8:00 am to 5:00 pm CT at **************.
  
  Sincerely,
  
  Customer Advocacy Team

• Initial Complaint

  12/01/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  This loan was paid in full in June 7, 2021. I have called several times to find out when they will send release of lien and record it with the county. This is by far the longest I have ever waited for a bank to record the proper documents. If this is not recorded soon I will file a lawsuit. Waiting this long is a crime. Your customer service reps are useless Last rep spoken to is 12/1/21 hung up on me when I asked for a manager. Still No Release of lien given. "Can't provide a ticket number" cannot provide ANY CUSTOMER SERVICE. Ask for a manager and get hung up on. THESE PEOPLE SHOULD BE BARRED FROM GIVING LOANS!

  

  Business response

  12/16/2021

  We have received your most recent correspondence in our office on December 12, 2021. It is our goal to provide excellent customer service, and we sincerely apologize that our service did not meet Mr. *********** expectations. After reviewing the account, we have prepared the following response.
  
  When a loan pays off the Release of Lien is prepared and mailed to the County for recording. Releases are prepared in the order in which loans are paid off and we process them as efficiently as possible. Due to the ******19 pandemic, we have experienced unusual delays in processing release of liens as a result of increased volume,reduced office hours, and adhering to strict safety protocols.
  
  Please be advised that your release was escalated and was e-filed on December 10, 2021. A copy of the recorded release is attached for review.
  
  Please feel free to contact us with any additional questions. Our representatives can be reached Monday through Friday, 8:00 am to 5:00 pm CT at **************.
  
  Sincerely,
  
  Customer Advocacy Team

• Initial Complaint

  11/18/2021

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  Failure to communicate seems to be a standard practice today with Colonial. After 21 years + of being a faithful, loyal customer with a mortage (and 0 late payments), Colonial failed to record my overseas military mailing address last year when a home loan was refinanced. Colonial sent a premium increase letter to my property address (not my military mailing address). While I continued to make the payments on time, they did not reflect the increase. Colonial then started charging late fees because of their error and then sent in a bad-credit rating. All of this despite the fact that my military mailing address had been given to them well over a year ago when I refinanced requiring paperwork to be mailed to me.Now Colonial will not answer the question of when they are going to reverse the bad credit rating score they made in error. I have emailed and spoken on three or four occasions to Colonial on the phone from my Asian location. I have elevated the matter to the program supervisor. ********************** is not providing me any answers to my question regarding when the bad credit notation will be reversed.It seemed a good idea to try reaching her this way. I look forward to getting my answer from Ms. ** and Colonial. 21+ year customers deserve better service.

  

  Business response

  12/03/2021

  We have received your most recent correspondence in our office on November 18, 2021. It is our goal to provide excellent customer service, and we sincerely apologize that our service did not meet ****************** expectations. After reviewing the account, we have prepared the following response.
  
  ****************** loan originated on June 15, 2020 and he provided a mailing address that was different than the property address, however, his mailing address was setup in our system as the property address in error. As a result, ****************** annual escrow account disclosure statement was mailed to the property address. We received funds to complete ****************** September 2021 payment on October 29, 2021 and his October 2021 payment on November 9, 2021 and as a result these two payments were reported as 30 days past due to the credit reporting agencies.
  
  On November 3, 2021, Mr. ************ to a supervisor in our *************************** and she determined that the mailing address was not correct and that the late fees and negative credit reporting would need to be reviewed. A request was opened to update the credit reporting for the September 2021 and October 2021 payments to reflect not reported and that was completed on November 17, 2021. Additionally, the late fees for September and October have been waived. We sincerely apologize for the inconvenience that this caused ******************. 
  
  Please feel free to contact us with any additional questions. Our representatives can be reached Monday through Friday, 8:00 am to 5:00 pm CT at **************.

  Sincerely,
  
  Customer Advocacy Team

  Customer response

  12/11/2021

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is only partially satisfactory.  I appreciate Colonial's admission for being the source of the problem and their apology.  They failed to address the bad credit entries and the efforts they are making to reverse them.

  
  

  In the same faithful and timely spirit that I have serviced my account for 21+ years, I think it is fair to expect that Colonial apply the same timeliness and diligence in getting the bad credit entries reversed.

  
  

  Thank you in advance and I look forward to a full resolution.
  
  Regards,
  
  *****************************

  

  Business response

  12/28/2021

  Please see attached.

*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. ↩