Mortgage company / Loss Dept.
Wow, where do I start? I was happy with my Citi Mortgage Account, and then all of a sudden, against my will, I am told Nationstar "bought out" my loan from them. A few months later I had a flood in my home. The Flood Insurance company (Travelers) was wonderful to deal with, but they had to put Nationstar as a payee on my settlement check. I was forced to sign the check for over $20, 000, and send it to Nationstar, to be redistributed back to me in increments, pending inspections of the repair work in progress. I was forced to hire my contractor with no down payment provided, then wait for the first check for all the supplies he needed to make the repairs. Well, I waited and waited, and had to call many times and explain the situation, NEVER spoke to the same person twice, and was told they were only following their "procedure". The flood happened in October of 2017, and the home was unlivable for four months while I waited for the checks to finally come. I lost 4 months of rent payments and had to pay mortgage for an empty house. Then when I was TWO days late for one of the payments, they actually had a collection agency call me!!! Even though there was a 20 day grace period, they harassed me until the received my check. They made my life miserable and it is still not re-rented as of March 2017.
I don't think anyone just chooses Nationstar for a mortgage company, they are in the business of buying out loans from other banks and "servicing" them. When and why did we lose our right to choose what companies we do our business with?? It's incomprehensible to me that such a huge decision such as what mortgage company we deal with can be made by corporations, against our will, !