ComplaintsforSWBC Mortgage Corporation

• Initial Complaint

  03/22/2024

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I am looking to file a gap insurance claim and have requested a list of the required documents. Every time I try to speak with a live representative I get put in a loop of automated messages. The automated message asks for a list of nine documents to process my claim and has the option of having a list sent to my email. I sent the email on Monday and I have yet to hear a reply. I tried calling SWBC's main customer service line which again put me in the automated message loop. In other words, there is no user friendly way to file a gap insurance claim. I suspect this is a way to deter customers from filing valid gap insurance claims. I have called the number and repeated the automated list of documents to try and file the claim despite the above-described challenges. However, I have no live person to speak with to ask questions on how to obtain said documents. The document list includes a complete list of payment history, principle and interest. It also asks for gap contractor waiver. Without having a live human to answer your questions some of these documents are very challenging for an ordinary customer to locate or know how to obtain. Again, I suspect this is a strategy create a disincentive and deter people from filing valid gap insurance claims. All I am asking for is a live human to speak with to file my valid claim and for some guidance from the company, which SWBC has not done to date.

  Business response

  03/28/2024

  On March 26, 2024, **** called the borrower and left a voice mail requesting the borrower call back and provided the borrower instructions on how to reach a live representative to file a GAP claim. **** also sent via email to the borrower a list of documents required to file a GAP claim with the named parties from whom the borrower may request the documents and provided the contact phone number, facsimile, and email address for the **** GAP Claims department. 

• Initial Complaint

  08/17/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  State Farm incorrectly sent a refund check to SWBC Mortgage for an overpayment on my ********************** SWBC Mortgage cashed this check instead of returning the check. SWBC states they did not receive this check and they cannot help me. State Farm provided proof that SWBC was mailed the check and the check was cashed. SWBC is withholding $634.00 from me.

  Business response

  08/23/2023

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

  We can certainly understand the frustration this situation has caused you.  We do not see that you have a current loan or a prior loan with SWBC Mortgage so trying to find any information or track the receipt of the check is difficult.  Can you provide a copy of the canceled check or something that will help us with our search?  Also, since we have no record of you being a customer, if State Farm issued the check to us in error, it's concerning they're not taking ownership of the error. You should not have to **** down your money if they sent the check to a company that has absolutely nothing to do with your current mortgage. If you need further assistance, you can email me directly at ******************. 

  Sincerely,

  ***************************
  Sr. Compliance Manager

  Customer response

  08/23/2023

  Complaint: 20480852
  
  I am rejecting this response because: I reached out to ***** directly via email, this case is not completed. Pending *****'s response. 
  
  Regards,
  
  *************************

  Business response

  12/19/2023

  Please see attached. Thank you. 

• Initial Complaint

  07/12/2023

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  My household was financially impacted by *****, resulting in a mortgage forbearance. During the forbearance period, SWBC reported negatively to the credit bureaus which they explicitly agreed not to do. While the company has acknowledged the error, it remains unresolved. We are since at the end of the forbearance period and have been working to get back on track with payments; however, SWBC representatives have been unhelpful and rude. I am concerned about the impact this apparent lack of competence will have on our home security. In the most recent exchange:7/12/23, 9:44am SWBC Employee # ****** I asked for the status on my repayment plan, the representative asked if I'd signed my loan modification paperwork. I explained that I haven't received any paperwork. He put me on hold and, when he returned, told me there is no paperwork required, just a decision from the underwriters. I asked when I can expect that decision to which he responded that volume is high and he can't say. Meanwhile I'm receiving collection calls from SWBC about my account.I asked if this pending decision and the forbearance period were showing on my account notes. He suggested that I ****** the word forbearance, then hung up on me. This is my third call to SWBC over the last 30 days, and I receive varying advice with each call. This is unacceptable service and a precarious situation for me and my family.

  Business response

  07/25/2023

  July 25, 2023
  
  
  Better Business Bureau
  *******************************************************************************
  
  Re:      Case number: ********
  
  To Whom It May ********  
  
  We have received your correspondence dated July 12, 2023, pertaining to Case Number ********. We understand the borrowers concerns and take this matter seriously. We have conducted a thorough review of the circumstances cited in this case.
  
  Based on the information the borrower provided,we have reviewed their account and have resolved their concern.   While we are unable to provide personal financial information, we would like to share the steps taken to resolve the borrower's issue. Here is a summary of our response and any new information (if applicable): 
  
  We found that the borrowers credit report is accurate.
  We reviewed the call on July 12, 2023 and found that the call was placed on hold and then disconnected abruptly. We assured the borrower that providing unmatched service to our borrowers is our top priority and we are always disappointed when a borrower is not satisfied with our service. The borrowers concerns have been taken seriously.
  The borrowers loan was approved for a streamline recovery standalone partial claim. The borrower will receive more information for the partial claim terms under a separate cover.
  
  We contacted the borrower to discuss the resolution with the borrower on July 19, 2023. However,we were unable to reach them. 
  
  Our review of the loan determined that no servicing errors occurred related to the credit reporting. The borrower has a right to receive a copy of the documentation we relied upon to reach this conclusion. This documentation has been provided to the borrower for their convenience. 
  
  Should you require additional assistance, or wish to dispute the outcome of our review, please contact us in writing at SWBC Mortgage, PO Box *****, *****, ********** 08628.
  
  Should you have any questions regarding this matter, please contact me at ************.
  
  Sincerely,
  **************************
  ***********************
  Executive Resolution Specialist

• Initial Complaint

  06/09/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  We have 4 lending companies fight for our business and we went wth SWBC. One of my questions was PMI early pay of and other was making payments in the manner I want, bi-monthly. I was told not penalties on getting a PMI off early and we would get a credit for our buy down. And for payments there is not an issue in bi-monthly payments. This is in fact not true. I found this out after setting up my payments to do just that. Apparently, SBC rejects a partial payment ( discouraging additional amounts toward the principal, clearly). So, what ramifications if I have emails stating from your employees that this would be allowed and now you state I am not allowed? We have a clear issue if the company is stating false information to win business. Please inform me how we should clear this up. Further more due to my payment being rejected you all called me from a debt collect department and your employee hung up on me. I verified only two things but refused to continue verifying any information without knowing what the phone call was about. This is when your company choose to Hang up on me your new customer. We are off to a very terrible start.

  Business response

  06/28/2023

  Good evening, 

     I am confirming receipt of the complaint. A response will be issued within 10 business days. Thank you

  Customer response

  07/10/2023

  Complaint: 20165878
  
  I am rejecting this response because there was solution furthermore no one has reached out to me from SWBC. My July payments have been rejected AGAIN! And not only now has the 4 person who has called me to collect payment stated there is a "SPECIAL FORM" I must fill out if I want to pay in increments. This is even more troublesome. Why has this solution ONLY NOW been offered? Why can they not set it up over the phone but instead have to MAIL the paper work to be filled out? All of this thus far looks like a "***** fargo" strategy making it difficult for the consumer to pay and quick to attempt to set the consumer into a delinquent path.  
  
  Regards,
  
  ***********************

  Business response

  08/07/2023

  We are confirming receipt of ******************** additional comments.  ************************ will review and provide a response in 10 business days.

  Customer response

  08/08/2023

  Complaint: 20165878
  
  I am rejecting this response. They are repeating this tactic/ SWBC/ this is the second time they stated they are reviewing and will get back within 10 days. I would urge them to respond carefully NEXT TIME. 
  
  Regards,
  
  ***********************

  Business response

  08/10/2023

  We understand your recent concerns regarding the rejected partial payments and the issues you've encountered. We truly appreciate your feedback, and want to assure you that we are committed to resolving this matter to your satisfaction.

  
  Please be aware that at the closing of your loan you were provided the Closing Disclosure that clearly states partial payments are not accepted. Additionally, we've taken several steps to communicate with you about this situation. Our records show that we sent you letters on four separate occasions (June 1, 2023, June 30, 2023, July 5, 2023, and August 1, 2023) explaining why your partial payments were rejected and providing guidance on how to rectify the situation.

  
  On July 7, 2023, we also reached out to offer assistance through our budget drafting program, which is designed to help customers like yourself make the intended partial payment while adhering to our policies.

  
  We also want to apologize for any confusion or frustration you may have experienced in our attempts to contact you via telephone. Our commitment to privacy laws requires us to verify your identity for your protection. We understand that this may be a slight inconvenience, but it's essential to ensure the security of your personal and financial information. To move forward and address your concerns, we kindly request that you provide the necessary security information when our servicing center reaches out to you. Once we verify your identity, we will be able to assist you more effectively and resolve any remaining issues.

  
  We value your business, and we're determined to ensure a satisfactory resolution to this matter. Your satisfaction is important to us, and we want to ensure that you have a positive experience with our services.

• Initial Complaint

  05/02/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  We built our house. after 4 years we had to refinance according to the all in one construction loan contract we had in place. We chose SWBC to do this. We also asked for equity out of our home at that time. They gave ** a ***** Home Equity Cashout (***** Home Equity Security Instrument) lien. So instead of the amount we asked for they gave ** an equity loan that encompassed our mortgage and the amount asked for. Which means there is no way to pay off the equity loan as there is no delineation between the mortgage and lien. Our home is now valued at 65% percent above what we currently owe. We were looking at buying a second home for retirement and using the equity in our home to do so. but because the way this mortgage was set up, the entire mortgage is a lien. To make matters worse you cannot, in *****, take out home equity loan or HELOC (second lien) if you already have a ***** cash-out loan in place. For ** to change this we would have to refinance our home to an interest rate that would be more than double at this point, which is unacceptable for anyone to do. So even though we have one mortgage and one payment and a ton of equity in our primary residence, the way SWBC structured the deal made our equity in this house completely useless. On the closing disclosure it is marked as a conventional loan but on the ***** Home Equity Security Instrument they have the full mortgage and cash taken out as one number making it seem as though I took the entire amount as an equity loan which is not the case. Also, at the top of the disclosure page there is a handwritten '*'. What does the * stand for?

  Business response

  05/12/2023

  Good afternoon, 

     We have received the complaint and are in the process of reviewing the history.  You will receive a response by 05/19/23.  Thank you

• Initial Complaint

  02/13/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  SWBC is the worst bank I have ever dealt with. They are impossible to get on the phone. I have faxed them and messaged them many times with no response. My property has never had a lapse in insurance and they bought and are charging me for insurance and are making it impossible to correct this problem. I am going to refinance with another bank. That is how bad they are.

  Business response

  02/16/2023

  Good afternoon, we have received this complaint and are in the process of researching and drafting a response.  A full response will be recevied on or before March 3, 2023. Thank you

• Initial Complaint

  02/06/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have had nothing but issues trying to get my payment adjusted due to me being 100% disabled through the military. I have submitted a form showing I lm required pay $0 for property taxes. You can look up through bell cad as well. However Im being told I only qualify for partial tax exemption. This is because before I was rated 100% I applied for the homestead exemption. Then once I got my rating I submitted for the 100% military disabled exemption and this is where I have run into MULTIPLE issues. I have called and messaged countless times and have yet to have anyone resolve this issue that should not be this difficult. I finally reached someone in the escalation department because I have had enough. Im worn out trying to get this taken take of. They told me I need a bill from the county. I called the county and they told me they dont give bills out and if they did it would be at the end of the fiscal year. They said I wouldnt get a bill since Im tax exempt and the form they sent me which I uploaded into the portal is all they ever give to veterans to give to their mortgage companies. I uploaded this already. Why in the heck is this so difficult. I am continually paying taxes the last few months that I am exempt from! Is this how yall treat veterans? I am normally a very reasonable man, but the amount times I have had to call to get a simple fix resolved is beyond frustrating. SWBC has dropped the ball too many times and I will never refer this company to any family or friends.

  Business response

  02/15/2023

  February 15, 2023
  
  
  
  BBB Corporate Office
  1805 ***************************** Ste 100
  ******, ** 78754
  
  Re:      Case number: ********
  
  To Whom It May ********  
  
  We have received your correspondence dated February 6, 2023, pertaining to Case Number ********. We understand the borrowers concerns and take this matter seriously. We have conducted a thorough review of the circumstances cited in this case.
  
  Based on the information the borrower provided, we have reviewed their account and have resolved their concern.   While we are unable to provide personal financial information, we would like to share the steps taken to resolve the borrower's issue. Here is a summary of our response and any new information (if applicable): 
  
  The borrowers loan was updated with their tax exemption.
  A refund was issued to the borrower due to an overage in their escrow account.
  
  We attempted to contact the borrower to discuss the resolution on February 14, 2023 and were not able to make contact.
  
  Should you have any questions regarding this matter, please contact me at ************.
  
  Sincerely,
  ***************************
  ***********************
  Executive Resolution Specialist
  

• Initial Complaint

  02/06/2023

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I recently purchased a home using SWBC mortgage in June of 2022. Right before thanksgiving the house was completely lost due to fire. During the process of the insurance claim I decided to purchase a new home because it would be a faster route to stability for my children. I recieved the checks from the insurance and in a more than timely manner ( I assumed any issues would be on the insurance end), and called the insurance claims department for further instruction. I was told an address in ********** to send my check to the loss drafts department. I was told to also send a hand written letter of intention. A few days later when I called to check on the receipt of the checks I was told over and over by man representatives that the checks were never received. After days of trying to track them down they finally found that they were recieved and shipped to a different department that I was told they were not suppose to be sent to. Originally I was told that 10 days after receipt of my checks I would receive the remaining funds. This miss-placement of the documents set me back a week. I was also told the reason for this was that I never sent in a letter of intention which was hand written and sent in the same envelope. So I wrote another and sent it in to the online protagonist I was told to send it to. However once I had received receipt of delivery of my document last from the postal service I had put an offer in on a home and set a closing date based on the 10 day timeline plus time for the money to be received and processed on my end. When I called back in to check on the new letter I was told again they had never recieved it. Apparently I was now given the wrong portal to upload it to. So I again uploaded now two copies of this letter. Im the meantime I was given now a 30 day timeline instead of the ten day. I asked for a manager and was given them a fifteen day timeline which I was assured would most likely be shorter because I had already requested the payoff docs I needed. I began to call daily because I was getting all different timelines but after I spoke with this manager I reset my closing date based now off the fifteen day timeline I was given by this resolution manager. The next day I received an email giving me now a 20 business day timeline from that day on. I called back and spoke with another person explained this all over again and was basically told too bad. I was told that there would be a request put in to expedite the funds but when I called back the next day the same man told me he wasnt going to put the request in like h said because it wont help. I then the next day was given a new timeline which I have begun to keep proof of should I need an attorney for losing the sale of this home.

  Business response

  02/16/2023

  Good afternoon, We are in receipt of this complaint and are in the process of researching and drafting a response. You should receive a full response from us on or before 02/23/2023

• Initial Complaint

  12/28/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Bought a home using SWBC. Insurance was immediately dropped so I went and got my own better and more expensive insurance. SWBC still collected for the original insurance in escrow. They found out I had different insurance and said there was a shortage in the escrow though I have been paying out of pocket. They refuse to review this and refund money that was collected in escrow for the original insurance. Now with the shortage in escrow my mortgage has increased by 115 dollars roughly a month even though I pay the insurance. I asked them to review I have sent letters made phone calls to them had the insurance fax info even to them contacted the title company and have been told by SWBC that I can pay the shortage even though insurance is up to date and they would be collecting for my current (paid) insurance and hopefully in a year on my next mortgage audit they will see what happened and refund me. Thats their response basically yes we understand, no we wont do anything and hopefully in a year of you over paying it will all work out and youll get your money back. SWBC representatives have yelled, put words in my mouth, been unprofessional towards myself and ***** even offered the advice to me to not pay my mortgage. Unacceptable period. All the info is there for them they need to correct this refund my money and adjust my mortgage. I can provide my payments to the insurance if requested as I am unsure about uploading them here and my privacy.

  Business response

  01/09/2023

  Good morning - We are still researching the complaint and drafting a response.  We will have our response to you by 01/19/23

• Initial Complaint

  12/14/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I have been dealing with the SWBC ********* services, loss draft department. I suffered damage to my property during hurricane *** and SWBC is the division my mortgage company, ********** Mortgage, uses to control ********* money disbursements. I sent the initial email to them and attached all requested information on Nov 7, 2022. I sent, via ****** the insurance check to ********** Mortgage on Nov 7 ***** they had received it and cashed it for $70,000 plus. There is a formula they use and my first installment should be $40,000 and when 75% of the work is done, verified with their inspector, I receive the rest of the money. The entire process is slow rolled and as of today Dec 14 ***** I have received no money. I received a phone call from SWBC saying my signed affidavit attachment was graining( unclear to read, which when I opened the file I read it just fine) and could I resend the attachment as a PDF which I did on Dec 2, 2022 and I have not received any check or heard back from ****. I am out of pocket for $10,000 so far and essentially at a standstill until I receive the check to make a large payment to the roofing company. I spoke to **** today Dec 14***** and they said they would research and call back in a day. Why couldn't I get an answer over the phone when I called? The process has been slow rolled and is completely unsatisfactory for the consumer.

  Business response

  12/22/2022

  The complained of delay was due to an unreadable document initially received from the Complainant. SWBC contacted the Complainant who provided a readable copy,allowing SWBC to remedy the situation.

  Customer response

  12/23/2022

  Complaint: 18571730
  
  I am rejecting this response because: Attached are both copies I sent SWBC, one dated on Nov 8,2022 in which  the attachment is clearly legible and the other dated  Dec 2, 2022 in which 12 days went by without a response until I filed a complaint. I did receive my initial lost draft check for $40 K which I do appreciate but I am not accepting their response as an adequate reason for the delay
  
  Regards,
  
  *****************************

*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. ↩