ComplaintsforAlcova Mortgage, LLC

• Initial Complaint

  03/23/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I had a mortgage with Alcova Mortgage and sold my house, which closed on December 21,2021. I made my last monthly payment on December 3, 2021 and I am owed 798.80 according to Alcova. This is what was left from my payout that should be returned to me. I contacted them January 12th and spoke to ******** and she said that I should have my money by January 16th. When it didn’t come, I called back on February 1st and spoke to *****  And she said that it was sent to my old address (the house that was sold) so she said they would send my money to my new address (**** *** ***** ******** ** *****). It never came. Long story short, I have called over 11 times and spoken to several different reps along with supervisors and the story is the same each time. I also had my ***** ******** friend and local mortgage rep with Alcova for help but to no avail, on the mortgage company’s part in Virginia. I also asked if they could direct deposit the money like many customers pay their monthly mortgages but their answer was they don’t do that. I asked if they could overnight my 798.80 and was told they would do that and that I would get a call between 11:00-12:00 the next day with a tracking number by ******* . (Supervisor). This was on 3-14-2021. When I called back because no one called me that day I was informed that they don’t do that and when I asked to speak with ******* . and the call was put through to her extension, she hung up on me. I am beyond frustrated and this should of been resolved long before now. I just want the money that is owed to me from Alcova Mortgage *** ****** ****** *** ******** ******** ****** Please help me get this matter resolved promptly. Best Regards, ****** ********

  

  Business response

  03/31/2022

  To begin, ALCOVA deeply regrets that the Borrower’s escrow refund has been so delayed. Our investigation of this complaint confirmed that while multiple checks have been cut, none have been negotiated as of the time of this response.  A stop payment has been placed on the previously most recent; issued on March 16th.  A replacement was sent by USPS overnight mail on March 29th to the Borrower's P.O. Box. The tracking information confirms that, while delivery was delayed, it was fulfilled today.   Additionally, we offer our sincere apologies that some assurances were not carried out as promised.  Please be assured that the matter has been brought to the attention of ALCOVA’s Servicing Manager and will be used as a training opportunity. 

• Initial Complaint

  03/03/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  We set up auto pay using the online portal in December. The payment hadn’t come out when I checked on 1/3. The portal showed auto pay would start on 2/1 so I made a manual payment. On 1/4 two payments was taken, we called and was told a refund would be processed and would take 3 business days. Never got anything. Called again and was told 5 business days. Never got anything. 20 days later we called and said forget it to apply it to February. Was told that was done but nothing happened. We got debt collector calls for our payment. We called back in and was promised follow up. 5 different times. We was told they attempted to wire the funds and it came back and then changed the story and said our bank has the money. They told us to make a March payment since it has been ANOTHER month and they would apply a February payment. The associate lied and applied it to February instead of March so now we are told we owe another payment with a late fee. We have spoke to at least 8 different people who have provided completely different information. We just want this applied to our account. If this is not corrected we will be moving forward with legal action as the amount does not show applied to our account and we never got it back. That is theft.

  

  Business response

  03/11/2022

  ALCOVA’s investigation of this complaint confirmed that the Borrower established a recurring payment on December 21 that was set to draft on or around the first of every month. Since financial institutions are closed on January 1 for the New Year’s holiday, initiation of the draft did not occur the next business day, which was January 3.  Consequently, the manual payment made by the Borrower the same day caused a double posting.Several attempts have since been made to refund the additional payment. The first, sent on January 18, was not successful due to incorrect wiring instructions. Updated instructions were provided to ALCOVA on January 20 and the wire was resubmitted. Upon being alerted on February 28 that the Borrower still had not received the funds, research determined that the second set of wire instructions were also incorrect. A third attempt was initiated on March 3 (see attachment).Providing great service to every customer is ALCOVA’s top priority, so we take matters like this very seriously & offer our sincere apologies for falling short of this goal.  Please note that the late fee has been removed.  The loan currently reflects a due date of April 1, and an ACH (auto payment / recurring draft) is not set up for it at this time.  If you have any additional questions, please feel free to contact our Customer Care Center at ************ from 8 am to 9 pm ET, Monday through Friday, and Saturday 8 am to 12 pm ET, excluding major holidays.

• Initial Complaint

  10/11/2021

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  I setup my online account as directed by the email from Alcova Mortgage. I was shocked after I logged in to the account. The online account states my current payment is due on November 1st with the amount due of $388.09, and it also shows a current escrow balance of $310.50 which is incorrect. The closing document that I signed at *** ******* *** **** states the November 1st payment is $336.34 with no escrow. Alcova has made a huge unacceptable fraudulent error and it needs to be corrected ASAP.

  

  Business response

  10/12/2021

  We have received your correspondence regarding your loan payment and referred the matter to our Servicing Department. Please rest assured that ALCOVA’s internal policies require us to fully investigate any grievance we’re provided. This process is already underway and we will be in touch again soon. 

  Customer response

  10/15/2021

  I have reviewed the response 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. Regards, ******* *******

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