Village Capital & Investment

I am submitting this complaint for 2 reasons: 1) to increase awareness that Village Capital is the most unethical and unprofessional business in the mortgage banking industry and 2) to get reimbursed for the late fee my current lender imposed due to their lack of incompetence processing home loans. I received an advertisement letter and reached out inquiring to refinance (FHA streamline) my home back in April. There were several lenders reaching out. Initially, the Loan Officer, Stephen K, was responsive when it came to gathering the initial documentation to get this started. They ran my credit and told me not to pay my May mortgage. This refinance would process in May, I would not have a payment in June, and first payment would be due in July. They scheduled a day/time to send out a notary to finalize the documentation. I didn't get a call the day before to confirm the appointment, so I reached out to Stephen and he directed me to his assistant Kole S Kole confirmed a notary indeed would be coming. The next day came, no phone call, no notary. This proceeded to happen 3 MORE TIMES. Very frustrated, I reached out again. Kole stated they had not received the payoff statement from a previous lender, which is what he was waiting on in order to schedule the notary. He never bothered to coordinate the best time for me; I had to rearrange my work schedule to get on the phone with him several times to gather documentation that should have been gathered weeks ago (I was told they had all the info they needed). After all that was said and done, they confirmed yet another notary appointment. So, I waited again, and the notary did not show. So, I reached back out to Stephen and Kole again. NO RESPONSE from either. I emailed, called, and texted several times. I was getting concerned because it was already 5/21, and I needed to know whether or not to pay my mortgage. A late fee had already been applied, giving it was past 5/15 deadline. Because I did not get a response, by 5/24, I paid my mortgage. The same day, on 5/24, Stephen FINALLY replies stating he was "out of office." It seems unprofessional to not respond AT ALL to a client on such a time sensitive issue. Neither Stephen or Kole indicated they were out of office or had a delegate. At this point, I was fed up and told him that I do not want to proceed. I requested Village Capital pay my late fee given they put me through this "circus show" and wasted my time. He informed me that I NEED TO CALL my current lender and explain my situation and "sometimes" they will waive the fee. This is unacceptable. This late fee was applied to due Village Capital's loan officer and assistant and should be paid for by Village Capital. It is absurd they took all this time to obtain ALL MY PERSONAL information. I could have gone with another lender and had this processed by now. Stephen also proceeded to "inform" me that they are required to store my information in a secured way for 3 years. Buyer beware...if anything happens with my information over the next 6 months to 1 year, this will be the first business I contact. They do not understand how to process loans; I am confident they store information in the same manner.

STAY AWAY FROM VILLAGE CAPITAL Holding onto insurance claim check, forcing me during this trying time (pandemic) to pay for repairs upfront. STAY AWAY FROM VILLAGE CAPITAL & INVESTMENTS LLC I have an insurance claim check to have the hardwood floors on the first floor of my home replaced. The insurance check is made out to my wife and I plus Village Capital and Investments. I called Village numerous times at the beginning of July to see what I needed to do to obtain their endorsement on the insurance claim check. I was emailed a form that was a little hard to make sense of, so I called back at least two more times to Village Capital to get clarification on exactly what I needed to do on my end. I was told to simply send the insurance claim check (I didn't need to endorse it at that time) with an attached letter stating my name, loan number and property address. Also, I was instructed to include a prepaid overnight envelope for return shipping back to me. I mailed the insurance claim check, written letter stating my wishes and included prepaid return shipping envelope overnight to Village Capital on July 15. The information was received by Village Capital the next day July 16. I decided to wait until Monday July 20 before I called and checked the status and at that time I was told that my request and all documents have just made it to the Loss Draft Department and to give them 48 hours before I call back to check status. I called back on Wednesday July 22 and I was told that the check was sent back to me because Village Capital wanted me to endorse the check prior to them endorsing the check. I left out one part the check is almost $14,000 dollars and I've only been dealing with Village Capital for about two months, so I'm very hesitant to just sign over a check in that amount to a mortgage company that has already shown many inconsistencies on how they do business and relay information back to there customers. So I got the insurance claim check back on Thursday July 23 and it included a letter from Village Capital stating that I needed to endorse the check first before they will, however the letter referenced a husband and wife to whom I don't know and I have absolutely no dealings with. Yet Village Capital wants me to endorse a $14,000 dollar check (signing over my rights) when they pull a stunt like this. I sent Village Capital an email that evening stating that I need someone in management to call me as soon as possible to discuss this entire situation. By lunch time the next day no one from Village Capital had reach out to me so I sent a follow up email threatening to log a case with the complaintsboard.com if I don't hear back from management soon. So within a couple hours a customer service manager called me. The customer service manager did the best she could explaining there policy and apologizing for all of Village Capitals mishaps but it's simply not enough for me. I wanted these repairs to my floors done prior to my kids going back to school and Village Capital has totally screwed up my time line. So now I have deal with work, kids going back to school, contractors in my house, temporary lodging and the pandemic all at once because Village Capital wants to put the entire insurance claim check into there escrow account and collect interest on it rather than simply endorse it and send it back. Village Capital wants to release 1/3 of the funds upfront once we provide the Contractors W9 and there Contractors License. Then once the contractor is halfway finished I have to call Village Capital and they will schedule and send out a inspector to check things before they will release the second 1/3 of the funds. The final 1/3 of the funds won't be released until Village Capital schedules and sends out an inspector again for final inspection. So at this rate my simple hardwood floor replacement won't be completed until around October timeframe because of Village Capital's crazy policy. STAY AWAY FROM VILLAGE CAPITAL & INVESTMENTS