ComplaintsforMGC Mortgage, Inc.

• Initial Complaint

  08/11/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I fell on a serious hardship and fell behind on my payment 1 month due to my child's funeral expenses. My car is broken down, AC gone out in the home and other issues. I have no extra funds to get anything fixed. I reached out to this company in Prayer to get some assistance on resolutions that will be for long term fix. I sent in all paperwork, hardship letter everything they asked from me. I explained everything in the paperwork and application I submitted. This company over looked everything I stated in my hardship letter and denied me payment deferments, denied me to lower my interest rate and/or lower my monthly notes. Instead I was told to stop paying all my other bills so I could pay this one and to not have any emergency situations. I have no vehicle to get to work I have to pay someone to bring me back and forth our AC is out in our home and it is 100 + in ***** and miserable for my family to sleep at night. Instead of this company working with me to find a long term solution they offered me to pay 2 x the amount I am paying now which is over $1000 a month. Why would you expect me to pay 2 x what I am paying now when I am in a hardship financial bind. This company does not care about the customer at all. They made it clear to me only thing they are worried about is making sure they get their money. This company makes is very hard to get any type of assistance when you need it and do not care about anything else you have to do. I been in my home for over 19 years and I tried going to another company to get away from this one and I am being told I have no equity in my home which is very fishy and I do not understand why nor the other company do not know what is going on at all either. Every year I am faced with the same situation and instead of this company helping me with a resolution that will be long term they are only wanting to raise my payments and put more financial bind on me every year for their own greed. This company is horrible no hearts no care.

  Business response

  08/29/2023

  Hello,

  Attached is the response that was sent to the borrower on August 29, 2023.  MGC has resolved the issue directly with our borrower and considers the matter closed.

  Thank you,

  Customer Service

• Initial Complaint

  02/18/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I received my escrow money from M, G. C. Mortgage company *************************************************************************. My wife passed away in July of 2022. They put check in my name and my wife's name. I had to return it and asked to have it put in my name only because bank would not cash it This was in October of 2022. I have mailed several letters to them asking what is the problem. I have had no response. It has been 5 months. I am very upset that this company would do this. I hope you can resolve this issue. Thank you

  Business response

  05/16/2023

  Hello,

  Attached please find a copy of our response for your review. 

  Sincerely,

  Customer Service

• Initial Complaint

  12/09/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I purchased my home in **** and MGC Mortgage bought my mortgage from my lender about 5 years later. During the pandemic I was approved for forbearance. When the forbearance ended I resumed paying my monthly mortgage in January 2022. MGC Mortgage accepted payment and then informed me that I had to complete a Loss Mitigation packet. I called MGC Mortgage and explained to them that I have had NO contact with the ex who I had purchased the home with in **** since **** and had no idea where he was. I was told that the modification would be based solely on my income. I completed that packet and returned to MGC. Approve April 2022.. Finally the paperwork arrived asking for me to sign. The paperwork also requested that the other borrower sign also, even though the modification was approved solely on my financial situation. I immediately called MGC Mortgage. I was told to have the co borrower sign a Quit Deed Claim, even though I explained that i had no idea where he was! I hired a lawyer to assist. My lawyer sent in the modification agreement with my signature and a letter explaining the situation and explained that he would be assisting me in trying to locate the co borrower in order to remove his name. No response from MGC. In August MGC accepted first payment over the phone. Received nothing stating modification was not in effect. Then I receive docs from MGC lawyer stating that they were accelerating my loan and would execute foreclosure in Jan 2023. I called and was told it was due to the missing signature. State programs were suggested. I immediately applied for HAF on 9/16. HAF has been trying to onboard MGC mortgage since September. I receive updates from HAF stating that MGC has not onboarded so they cannot process my application. I am incurring late fees and the foreclosure is still on for Jan 2023. I have called numerous times, nobody seems to be able to help. Emails have been sent to escalation department and promised call backs in 24- 48hrs- no response.

  Business response

  05/18/2023

  MGC responded to the Borrower by letter on January 12, 2023 and February 24, 2023.  MGC believes that all of the issues raised in this complaint were addressed in that correspondence and considers the matter closed.

• Initial Complaint

  11/22/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  My home was damaged during Hurricane **** MGC Mortgage wants me to endorse my insurance claim check to them and they say they will release it in thirds back to me and only after I pass some made up inspection that they are demanding. My roof needs to be repaired and if I cannot use my insurance proceeds I will never be able to fix my roof because 1/3 of the claim amount will not cover repairs and no contractor is going to do work without payment. MGC Mortgage is a predatory lender and I have had nothing but problems with them from the beginning.

  Business response

  06/12/2023

  Hello,

  Attached please find our response to ****************** which was mailed to her on 6/9/2023.  MGC believes the response fully addresses the issues raised in complaint and we consider the matter closed.

  Regards,

  ***************************, AVP

   

  Customer response

  06/15/2023

  I am rejecting this response because:   I sent MGC over $47,000 in checks and although they state that they have sent me a check for $5,000, I have not received anything. 

  Customer response

  06/15/2023

  The $31,000 check that I sent was incorrect which is why the insurance company put a stop payment on the check. However, the replacement check was sent to MGC and received by them. It was deposited on May 25. For them to act like they dont have it is disingenuous. I cannot complete any repairs on my home because they wont send me my own money. Although they state that they sent me a $5,000 check, this is absolutely false. I do not have any of my insurance funds.

  Business response

  07/12/2023

  Hello,

  This complaint was closed before we had a chance to thoroughly investigate the borrower's June 15th rebuttal to our initial response.  Attached is the response to the borrower's rebuttal that was mailed to the borrower on 7/11/2023.  Please **** this case as resolved and closed.

  Thank you,

  ***************************, AVP

  MGC Mortgage, Inc.

  Customer response

  07/12/2023

  I am rejecting this response because:   They do nothing but cause problems. They said they mailed a check on June 8, which can take 15 days to receive. So if on June 15 I still havent received it, that would be fine since it can take up to june 23, which it did. Now they are canceling the check I received and I have to wait again to do any repairs on my house and its been 10 months since the storm. MGC is a joke of a company.

• Initial Complaint

  11/08/2022

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  I asked for a loan modification in 8/2021,it took 10 months for paper work to arrive in 6/2022 when it arrived it had my previous married name, I could not get the papers notarized because that is not my name (I sent my divorce decree to mgc 10/2012)this was verified 11/1/22 by a MGC employee. Resending the papers took another month or two now the problem was the amounts due with paper work was 4xtimes the original amounts. It was not my fault that the name was incorrect! I'm simply asking for the original amount be honored. I continue to call MGC to be put on hold log periods of time, promised call backs that don't happen or threatened that I must sign and pay $10,000 or be denied, I am still receive documents with the wrong name! I would like for them to refinance, loan mod or whatever it takes so that the original amounts on modification papers is honored. See the attached pictures of the amount difference, I was told after receiving the second packet to wait for a call back (*******)to resolve the amount difference.

  Business response

  04/22/2024

  The attached response was sent to the borrower today, April 22, 2024.  We consider this matter closed.

  Customer response

  04/24/2024

  I have reviewed the business response and accept this resolution. 

• Initial Complaint

  06/09/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Our original loan was sold to MGC. Once MGC took over the Loan the problems started.We have made timely payments from the beginning but get charged late fees because MGC post late. During the pandemic we requested forbearance.My business was reduced because of stay at home orders.We were granted a forbearance for three months starting March 2020. Then again granted an extension after two request till March 2021.We were told that all payments under forbearance will be tacked on the end of note. When our Forbearance ended, we started paying our mortgage on 4/1/2021. Our first payment was 1400.00. When I called they agreed to accept that payment.The next month and every month since we have paid the full amount of 3800.00(13 payments ) . We call MGC constantly as to why our payments are not being posted, when they are clearly cashing our checks(have their records of checks cashed as well as our bank receipts) They keep adding late charges to our account.We call and get the run around.We can't get an answer as to why they are not posting our payments.Recently we received a foreclosure letter stating that we need to pay our whole mortgage off or 62,800 to come current.How are we in foreclosure when we have been making payments? Called the foreclosure dept and was told by Carol that according to their records they have no record of our payments MGC has not forwarded our Payments nor informed them that we are paying.Seems that MGC is the investment group and Dovenmuehle Mortgage is the server of the loan. MGC is predatory in it's actions. When we called MGC, we were told were had a forbearance plan to January 2022, then to March 2022 which is a lie because we never requested or signed off agreeing to be put on a two year forebearnce.The customer rep kept saying " Okay you never received notices, forget about that let's move forward just fill out Loss mitigation packet." The Dovenmuehle requested that we send all records to them. FEDS need to investigate MGC practices.

  Business response

  08/04/2022

  Business Response /* (1000, 5, 2022/06/24) */ To Whom It May Concern: We are in receipt of the *****************'s Complaint, which was received in our office on June 13, 2022, in regard to the above referenced case # XXXXXXXX. MGC Mortgage, Inc. ("MGC") is the master loan servicer for the Loan which is sub-serviced by Dovenuehle Mortgage, Inc. ("DMI") on behalf of MGC. The Loan is currently due for January 1, 2021. An Acceleration Letter was sent to the Borrower on May 19, 2022. The Loan was referred to our local attorney on May 20, 2022, in order to initiate foreclosure proceedings. A copy of a reinstatement quote and payoff quote good through July 14, 2022 are enclosed. Should the Borrower require updated figures they can contact foreclosure counsel. Please contact the following law firm for further information regarding this loan: Stein, Wiener & Roth LLP 1400 Old Country Rd. Suite 315 Westbury, NY 11590-0000 Phone No. 1-516-742-1212 In his complaint, the Borrower stated that he was told he was placed on a two year Forbearance ending in March 2022 which he did not agree to. Our records reflect the Loan was placed on a COVID-19 Forbearance Plan beginning March 1, 2020, through May 31, 2020. A Forbearance Agreement dated April 20, 2020 was sent to the mailing address on file. A copy is enclosed for your records. After the initial three-month Forbearance period, the Borrower requested and was granted multiple Forbearance extensions for a total of 13 months Forbearance covering March 2020 through March 2021. The Borrower was not on Forbearance between April 2021 and March 2022. The Borrower also stated in his complaint that he was told that the Forbearance Payments would be deferred until the Loan matures. The Forbearance Agreement dated April 20, 2020, explained that once the plan expired the Borrower needed to either: bring the Loan current, work with the Lender to obtain another workout plan, or pay the Loan in full. Beginning in March 2021, regular attempts to contact the Borrower to discuss post-forbearance options were made but all attempts were unsuccessful. The first documented contact with the Borrower after the Forbearance ended in March 2021 was on February 7, 2022. If the Borrower would like to determine what current loss mitigation options are available to him, he will need to submit a complete a loss mitigation application for review. A Loss Mitigation Alternative Program application was sent to the Borrower on May 17, 2022 and a copy is enclosed with this letter. The Borrower complained that payments made since April 2021 have not been posted to his account in a timely manner. When partial payments are received they are placed into a suspense account ("suspense") until there are sufficient funds to make a complete payment. Our records reflect we received a partial payment of $1,400.00 on April 8, 2021 and another partial payment of $3,800.00 on May 12, 2021, both of which were placed into suspense. On June 7, 2021, those payments along with additional funds from suspense were posted to the Borrower's account as the February and March 2020 payments. Enclosed is a copy of the Borrower's payment history from January 1, 2020, to June 20, 2022. The accounting includes, but is not limited to, the payments made by the Borrower and how those payments were applied. We received a payment for $3,819.00 on June 6, 2022, after the Loan was referred for foreclosure. The payment was returned to the Borrower on June 20, 2022 because the amount is insufficient to reinstate the loan. Once a loan is referred to foreclosure, we are unable to accept partial payments. The Borrower has the option to reinstate the loan to bring it current or pay the loan off in full. If the Borrower is unable to reinstate the loan or pay it off in full, they can submit a Loss Mitigation Alternative Program application to determine if they are eligible for loss mitigation assistance. The Borrower also complained that his account continues to accrue late charges. Late charges are assessed per the terms set forth in Paragraph 6 of the Note. A copy of the Note is being provided for your records. Late charges were not assessed between April 2020 and January 2022 while the loan was in COVID-19 Loss Mitigation status. Should Mr. ***************** have any questions regarding the Loss Mitigation process, please have them contact our Loss Mitigation Department at 1-866-397-5370. While we believe that this response fully addresses the issues raised in your complaint, if you require further assistance, please do not hesitate to contact our Customer Service Department at 1-877-471-7888. Sincerely, Default Litigation Specialist CC: Mr. *****************

• Initial Complaint

  05/06/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I sent in paperwork to become the Successor of Interest and the mortgage company had me on there as the Successor of Interest for about 3 weeks. Then said they had a system error that removed me as the Successor of Interest and didn't know how long it would take to be corrected. The home was also put into foreclosure the same time I was removed so now I am unable to get information as to how to become the Successor of Interest and what is going on with the foreclosure. We received a notice of acceleration letter from the mortgage company. I was told that to be the Successor of Interest I will need to send in my photo Id, the death certificate, and my name on the deed. I sent that information in several times.

  Business response

  07/05/2022

  Business Response /* (1000, 7, 2022/05/26) */ Hello, We have attached a copy of our response for your review. Thank you

• Initial Complaint

  04/21/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  MCG mortgage sent me a letter advising me I had a balloon payment due on August 1, 2022 they acquired the loan from a company I have no knowledge of I looked through the documents I have and it shows that I have maturity date of 2037 not able to get any paperwork confirming their information This is is a 2nd math & has been transferred several times

  Business response

  06/14/2022

  Business Response /* (1000, 7, 2022/05/10) */ Hello, We have attached a copy of our response for your review. Thank you

• Initial Complaint

  01/11/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I have been calling MGC Mortgage for the past week (Dec 27 - Jan 11) requesting my 2021 payment history and to have their system updated to grant me online access. No one can provide a solution. I have made over 10 calls and no one can assist me.

  Business response

  03/09/2022

  Business Response /* (1000, 7, 2022/02/09) */ This letter is in response to a BBB complaint received on January 14, 2022, with the above referenced case number. Our records reflect that this loan is a discharged, non-reaffirmed, Chapter 7 Bankruptcy debt. The Customer Review seeks the 2021 payment history, access to the online account, and an unspecified correction to their credit report. MGC Mortgage, Inc. ("MGC") takes all complaints by its customers with the upmost seriousness and provides the following response. A copy of the Customer's 2021 Payment history is being sent via separate cover. As for access to the online account, unfortunately, please be advised that we do not offer online access to loans discharged in a bankruptcy because the online payment option may be construed as an attempt to collect a debt, and therefore, a violation of the discharge order. For informational purposes only, borrowers in Bankruptcy proceedings can voluntarily submit payments by mail or through our pay-by-phone system. With regards to the credit reporting. Our records show that we are not reporting your loan. We may select which credit bureaus we report information to, if any, and we may elect to begin or end reporting at any time. As of the date of this letter, MGC Mortgage chooses not to report to any credit bureaus. Should credit reporting begin in the future, we would be legally obligated to report accurate payment receipt dates to the bureaus we furnish information to. While we believe that this response fully addresses the issue raised in your inquiry, if you require further assistance, please do not hesitate to contact our Customer Service department at X-XXX-XXX-XXXX.

• Initial Complaint

  12/06/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  Unable to get documents from 1994 where they stated we did a loan on a house we rented. Every time we call no answer. Recording just refers me to another company and still can't get any information regarding this matter.

  Business response

  02/02/2022

  Consumer Response /* (2000, 5, 2021/12/08) */ Issue resolved

*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. ↩