Complaints

This profile includes complaints for SWBC Mortgage Corporation's headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  SWBC Mortgage Corporation

  9311 San Pedro Ave Ste 100 San Antonio, TX 78216-4459

  
• 

  SWBC Mortgage

  213 Overlook Cir Ste A4 Brentwood, TN 37027-2703

• 

  SWBC Mortgage Corporation

  8500 Leesburg Pike Ste 406 Vienna, VA 22182-2409

• 

  SWBC Mortgage

  213 Overlook Cir Ste A4 Brentwood, TN 37027-2703

• 

  SWBC Mortgage Corporation

  4524 South WS Young Drive, Suite 101 Killeen, TX 76542

  

The complaint text that is displayed might not represent all complaints filed with BBB. 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.

• Initial Complaint

  Date:05/02/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  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

  Date: 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

  Date:02/13/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  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

  Date: 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

  Date:02/06/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  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

  Date: 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

  Date:02/06/2023

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  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

  Date: 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

  Date:12/28/2022

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  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

  Date: 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

  Date:12/14/2022

  Type:Customer Service Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  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

  Date: 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 Answer

  Date: 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,
  
  *****************************

• Initial Complaint

  Date:11/10/2022

  Type:Service or Repair Issues
  Status:

  ResolvedMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I have been dealing with the SWBC ********************* since March 2022. I suffered a major loss to my property and the SWBC is the division my mortgage company uses to control Insurance Money disbursements. Throughout the entire process, the SWBC ********************* has supplied me with false information regarding my claim with them. I have spoken with several representatives at the ********************* and they have all given me contradicting information. My property is still currently under construction and they are not abiding by the proper documentation supplied to them to make the correct disbursements, which has caused 3+ months of delays in completing the repairs to my property. From the start, the inspection process they utilize is very unclear and has several grey areas that they have been using to hold insurance money disbursements. I have made several attempts to get the issue resolved and I have tried to work with the ********************* and I have gotten nowhere. My file owner from the SWBC has been uncooperative and continues to supply with me false and inaccurate information. The employees continue to neglect my phone calls and they never follow up with me to provide me with updates regarding my claim. At this point, I have no other options and am unsure of a timeline for when any of these issues will be resolved. This is not only causing me stress and uncertainty but is also affecting my income from the property and delaying any sale of the property in the near future. I as the homeowner should not be the one who is treated with such disregard when all I want to do is fix my property and move on. The SWBC is very misleading and untruthful in how they conduct business. I have had several inspections conducted on the property by the SWBC only for the results to be inaccurate, yet they continue to spread misinformation and hold the funds to complete the project. Every phone conversation with the SWBC has been recorded by them.

  Customer Answer

  Date: 11/10/2022

  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 spoken with the business since this complaint and we have resolved the issues at hand.
  
  Regards,
  
  *****************************************

• Initial Complaint

  Date:10/11/2022

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  The mortgage company sent us a notice that due to increased property taxes we needed to EITHER a) send in a check with the estimated escrow shortfall OR b) increase the monthly mortgage payments. I immediately sent them IN FULL a check, which was chased, with the ************ shortfall amount. I continued to have the mortgage payments sent to them automatically from my checking account. In fact, I was paying EACH MONTH MORE than the payment amount. However, the company started MAILING checks BACK TO ME and telling my my payment was short. My husband and I called and called and CONTINUED TO point out to SWBC that they had made an error. They ACKNOWLEDGED receipt of the Escrow payment and that there was an error on their end. They CONTINUED TO ADD fees and penalties to our account, SEND US CHECKS BACK and REFUSE TO CONTACT US with resolution of THEIR ERROR. We have now sent them MORE MONEY but need all FEES and penalties removed and we would like a SIMPLE apology and assurance that they will not do this to anyone else. The unresponsiveness on what is CLEARLY THEIR ERROR is staggering. I hate to imagine what they do to vulnerable people. They really need to be stopped. I have never been so outraged at the way a company, clearly in the wrong, treats people. We have spent HOURS CALLING THEM and explaining the issue OVER AND OVER AND OVER again. They send us collection letters and call us..... Please help. We just want to make sure our fees are removed and that their most senior management, if those individuals have ANY common decency, apologize and assure us they will not do this to other members of our community.

  Business Response

  Date: 10/24/2022

  Tell us whOctober 24, 2022
  
  BBB ****************
  1805 *****************************
  Suite 100
  ******, ** 78754
  
  Re: Case number: ********
  
  To Whom It May ****************** have received your correspondence dated October 7, 2022, 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. 
  
  While were are unable to provide personal financial information, we would like to share with you the specific steps we took to resolve the issue with the borrower. In the letter we provided to the borrower, we explained:
  
  When an escrow shortage payment is being made, there are instructions listed on the escrow analysis that are to be followed to ensure the payment gets applied correctly.
  The instructions on the escrow analysis state that the payment can be made online under Make an Additional Payment or they can mail in the coupon on the escrow analysis with a check made payable to SWBC Mortgage and send to: ************************** ******************************** 07101.
  When we received the borrowers payment on April 20, 2022, it was received via third party automatic draft (ACH) with no payment instructions resulting in the payment being applied as May 1, 2022 monthly installment and the remaining towards principal.
  We received a call on June 13, 2022 from the borrower explaining that the payment that was made on April 20, 2022, was to be applied towards the escrow shortage and not as a payment. Due to an oversight, the proper task was not completed to have the payment reversed and applied to cure the escrow shortage as intended.
  Due to the escrow shortage not being cured as intended, the borrowers payment remained at the increased amount which later resulted in the borrowers payments being returned due to short payments being received.
  On October 7, 2022, we successfully reversed the April 20, 2022 payment and reapplied the funds to cure the escrow shortage. With the escrow shortage being cured, the borrowers monthly payment was reduced.
  As there was an oversight that occurred on our end on June 13, 2022, on October 11, 2022 and October 12, 2022, we waived the late fees that were assessed to the account. In addition to that, on October 14, 2022, we made a correction to the delinquent credit reporting that occurred on September 6, 2022 and October 5, 2022. A letter was sent to the borrower on that same day advising of the credit correction that occurred.
  
  On October 19, 2022, we attempted to make contact with the borrower however, we were unsuccessful.
  
  We consider this matter closed at this time. Although we were not able to confirm the borrowers satisfaction to the resolution, we were able to resolve their request. Should the borrower contact us further, we will communicate with the borrower directly at that time.
  
  Should you have any questions regarding this matter, please contact me at ************.
  
  Sincerely,
  
  Mykkallinn *******
  Executive Resolution Specialist y here...