ComplaintsforGuidance Residential LLC

• Initial Complaint

  09/02/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Due to the extreme price increases in homeowners insurance, my mortgage payment went up by almost $800 a month in less than two years. As a result of this I reached out to Guidance Residential, who claims to be Halal which in my opinion is false advertising because they sell the loan to US Bank which I was never made aware of. Besides that point I reached out asking if there was any type of an assistance program. They then steered me in the direction of what they call their MAP program. Which stands for a mortgage assistance program. During this program I was told to make four separate trial payments which I had to call in every single month. I never missed a single payment and I always called way ahead of time to make the payments. After the trial. They gave me a new lowered monthly payment. I called multiple times to make sure that everything was in order. Not one person from Guidance or US Bank ever reached out to me, I was the one calling them making sure that my car was in good standing. I was told repeatedly that everything is fine. I then go to apply for a business credit card and I see that I have two delinquent payments on my credit report showing that I was late paying my mortgage in a very high amount. This is incredibly false reporting to the credit agencies and it dropped my credit score into the high 700s now to the mid-500s. Making it almost nearly impossible to try to get a car or a new business credit card. False information should never be reported to the credit agencies, especially after I called 100 times making sure that my account was in good standing and they reassured me that it was. I demand that they take those delinquent payments off of my credit report because it is 100% false.

  Business response

  09/26/2022

  March 8, 2022

  Dear

  Your request for loss mitigation* options has been carefully considered. Details regarding the determination of the review can be found on the communication provided with this notice. 
  The consumer reporting agency that provided information that influenced the decision in whole or in part was ******* ******** *********. 
  The consumer reporting agency played no part in our credit decision and is unable to supply specific reasons why the action was taken. You have the right under the Fair Credit Reporting Act to know the information contained in your credit file at the consumer reporting agency. You also have the right to obtain a free copy of your consumer report from the reporting agency, if you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the report is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency. Any questions regarding such information should be directed to the consumer credit reporting agency below: 
  ******* ******** ********* 
  **** ******* *******, Suite *** 
  West Des Moines, IA ***** 
  ************ 
  *******.com 
  We also obtained your credit score from ******* ******** ********* and used it to make our credit decision. Your credit score is a number that reflects the information in your credit report. Your credit score can change depending on how the information in your credit report changes. 
  ****** *********'s credit score was *** on 02/17/2022. ******* FICO Score 5 scores can vary from 334 to 818. The key factors that adversely affected your credit score were: 
  • PROPORTION OF BALANCES TO CREDIT LIMITS IS TOO HIGH ON BANK REVOLVING OR OTHER REVOLVING ACCOUNTS 
  • NUMBER OF BANK OR NATIONAL REVOLVING ACCOUNTS WITH BALANCES 
  • AMOUNT OWED ON REVOLVING ACCOUNTS IS TOO HIGH 
  Federal Equal Credit Opportunity Act 
  The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal Agency that administers compliance with this law is the Bureau of Consumer Financial Protection, 1700 G Street NW, Washington, DC 20006. 
  your relationship manager, ******** *****, at *********** (************) ext. ******* from 7 a.m. to 7 p.m. CT, Monday through Friday. You may also contact a mortgage assistance point (MAP) representative at **********.com. 
  

  Sincerely, 
  Customer Assistance 
  
  *Loss mitigation refers to foreclosure alternatives such as forbearances, modifications, account restructures, short sales and deeds-in-lieu of foreclosure. These options may vary depending upon investor participation and approval. 
  

• Initial Complaint

  09/10/2021

  Complaint Type:

  Customer Service Issues

  Status:

  Resolved

  More info

  Right before two weeks of closing time, the appraisal was ordered by them with the wrong selling price that caused a $10k difference even though my contract with the selling price was uploaded on their portal a month ago and my account executive (******** **********) was notified verbally and via text messages. They admitted that this is their fault but wanted me to pay the $10k difference. That leaves me no choice but to go to another lender 6 days before my closing date. I wasted the $ 575 appraisal fee and months of time also pain and panic that caused the whole family at the very last minute. With the other lender, I had to spend another $1500 for a super urgent appraisal order. I would like my $575 and credit run fees of $50 Total of $675 returned.

  Business response

  10/13/2021

  October 13, 2021  
  

  Dear *** ****** 
  

  This letter is in response to the correspondence that we received from the BBB  regarding the complaint ID listed above.  
  

  The Account Executive that was assigned to this contract is no longer with Guidance Residential, and after we have completed a thorough review of all the documentation that we have on file, it has been determined that not all the actions were completed in a timely manner.  
  

  Guidance Residential will therefore refund the full cost of the Appraisal Fee, and as an  act of good faith we will also refund the full amount of the Credit Report Fee. The total amount of the refund (please see attached receipts) will be $584.00 
  

  We are truly sorry for the inconvenience this may have caused *** ******* and his  Family. If he has not received the refund within the next 2-3 weeks, please do not  hesitate to contact me at the email provided below. 
  

  Very truly yours,  
  

  Jacqueline ** W****** 
  Senior Compliance Analyst 

  Customer response

  10/27/2021

  Hello,
  
  I did not accept the response made by the business to resolve this complaint and I mentioned the reason in my reply by uploading the supporting document. They have now corrected it and I have received my expected credits. I would like to accept their resolution but don't see anywhere to accept it. Please let me know what can be done to mark this complaint as resolved.
  
  Thanks,

*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. ↩