Complaints

• Initial Complaint

  04/10/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I closed on the purchase of my first home on 3/7/2022 and CapCenter provided the mortgage's financing. About a year later on 3/8/2023, I receive a call from **** (CapCenter employee) explaining that my annual premium for the homeowners' insurance policy (with Traveler's) is coming due but that a check was being sent to Traveler's to cover the premium. I was informed that I could ignore "past due" notifications from Traveler's because it can take time to send the check and process the payment. CapCenter later confirmed to me that it has a recording of this phone conversation. Throughout March, I ignored past due notifications from Traveler's per ****'s assurances. After a month of non-payment, Traveler's reached out to inform me that the insurance coverage will lapse soon due to non-payment. I called CapCenter to resolve the matter on 4/7/2023, only to learn that their story has changed. CapCenter now says that I'm solely responsible for paying the insurance premium, which was the opposite of what it said a month ago. CapCenter's deceptive and inaccurate statements to me on 3/8/2023 were shocking, disappointing, and jeopardized my insurance coverage as a new homeowner. Why is CapCenter advising customers to ignore "past due" notices from insurers and promising checks that it has no intention of sending? My view is that CapCenter should resolve this terrible mistake by doing what it originally promised and pay the insurance premium.

  

  Business response

  04/18/2023

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

  Thank you for taking the time to discuss your complaint with me.  While I'm glad that I was able to clear up that we do not advise clients to ignore past due notices and that we don't pay the homeowner's insurance premiums of our clients, I can understand how your conversation caused this confusion.  I appreciate your feedback and will use it to implement changes to avoid this in the future.

  Sincerely, 

  *************************

• Initial Complaint

  03/01/2022

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  Refinanced home mortgage with a cash out of $********* and closed on February 7, 2022. On February 17, 2022, spoke to Susan S******, Accounting Department Manager at Capcenter, she stated wire transfer was completed on February 11, 2022. I stated that the cash out was not showing up in my bank account. She asked if I wanted to have the wire transfer canceled and a checked mailed to my address and I agreed to getting cash out by check. She stated that the check would be mailed out by February 18, 2022. On February 24, 2022, spoke with Susan S****** explaining that I had not received a check in the mail. She stated that my bank had accepted the wire transfer and she could not cancel the wire transfer. I requested the wire transfer information so that I could get my bank to trace the wire transfer. She stated that she would get that information to me. Called Susan S****** on February 28, 2022, and left voice mail stating that I had not received the wire transfer information. She did not return my call. On February 28, 2022, emailed Sean D******, CFO of Capcenter, explained my situation in the email and requested the wire transfer information. Capcenter would not give phone number for Sean D******. On February 28, 2022, Sean D****** replied back by email and stated that he had escalated the request to expedite the information. On March 1, 2022, received email from Sean D******, he stated that they were still waiting for the wire transfer information. To this day, I still have not received the cash out payment of $********* or received the wire transfer information.

  

  Business response

  03/15/2022

  Thank you for your review. In the time since you submitted this review, we have been in contact with you, and you have confirmed that you received your wire on March 4. We initiated the cash-out wire to you on February 11, within the standard disbursement period for your February 7 primary residence refinance closing. Upon further research into the issue, we learned that our bank subsequently held your wire in accordance with its internal review controls. Although we diligently worked with our bank to expedite the wire's release, the review process took longer than expected. Again, we apologize for any inconvenience this delay caused you. Thank you again for choosing CapCenter.  

  Customer response

  03/16/2022

  
  I have reviewed the offer made by the business in reference to complaint ID ********, and find that this resolution would be satisfactory to me. I will wait for the business to perform this action and, if it does, will consider this complaint resolved. If the company does not perform as promised I can get back to you at: [email protected].
  
  Regards,
  
  ***** ***
  
  
  
  

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