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Initial Complaint
01/17/2025
Complaint Type:
Customer Service Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
My mortgage company failed to make my downpayment for my homeowners insurance. At the time there was over 2300.00 $ in my escrow account. I requested they call me, and provide me an explanation of why they failed to make the payment on time! Why should I have to make the payment myself to my insurance agent! I never received the phone call or the explanation! They have now sold my mortgage to another lender! I have never been late paying my mortgage, always paid more than the minimum! They have sold my mortgage to avoid an explanation! Yes I am furiated/angry over this!
Business response
01/20/2025
GMFS did provide a response to Mr. ******* regarding his HOI payment several weeks ago. This response came from our servicing manager Mr. *** *********
Mr *******,
We received the renewal notice on 10/28 for the policy 112308 for the period 12/01/2024 to 12/01/2025. Check number ******* was sent to ********* ******** ******** ********* **** on 11/4/2024. This check, a bulk check, along with the reconciliation of other ********* ******** policy holders payments was sent on 11/04/2024. This was check number *******. This was communicated to your agent **** ****** on 12/2 at 10:42 AM.

*** ********
SVP GMFS LLC
7389 Florida Blvd Suite 200A Baton Rouge, LA 70806
************
Initial Complaint
01/15/2025
Complaint Type:
Customer Service Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
I bought my home in 2022 with GMFS and my mortgage has been sold almost three times. I fell on hard times in 2023 and now am currently in the deed in lieu of foreclosure process with ****************** but I got a notification in the mail from GMFS that my loan is being sold AGAIN to ********** ******** *******. This is going to cause me significant problems as I have spent the last 6 months fighting back and forth with ********** to finally get to the deed in lieu of foreclosure process so that I can get rid of the financial burden that owning a home I can no longer afford is causing me. To say I am frustrated with the amount of times my mortgage has been sold AND the inconvenience of this upcoming transition is an understatement.
Business response
01/15/2025
GMFS uses what is called a "sub-servicer" for our payment collection. When Ms. **** closed her loan the sub-servicer used by GMFS was called SLS (specialized loan servicer). So the first instance of the loan being sold was most likely just a notification that GMFS was using SLS for the loan servicing and not the loan being sold. However we do understand Ms. ****'s confusion on this because it has caused concern for many other borrowers in the past. The second notification the borrower received was a transition of sub-servicers from SLS to **********/******. Once again, this was not an indication of the loan being sold, but a transfer of who Ms. **** would send her payments to. This change was completely out of GMFS' control because the sub-servicer (SLS) was purchased by **********/ ****** in early June of 2024. All loans being serviced by SLS were automatically transferred to the new sub-servicer (**********/******) at that time. However, GMFS still owned the loan. This brings us up to today where the borrower received a notification of a sale to **********. This truly is a sale of the entire loan. GMFS is currently purchasing ourselves out from our parent company. In order to do this, we needed to raise capital by selling off our portfolio. Unfortunately, all of our loans will be sold over the next few months, including Ms. ****s. We apologize for the inconvenience this has caused Ms. **** and we do feel bad for the financial burden she is currently experiencing. GMFS' hopes that Ms. ****'s financial situation is turned around in the very near future.
Customer response
01/15/2025

Complaint: 22813141

I am rejecting this response because:
The explanation and apology does nothing to remedy the inconvenience that this could potentially cause me.
Sincerely,

****** ****
Initial Complaint
01/14/2025
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
Last year due to late payments on the account GMFS Specialized loan servicing did not pay my yearly property tax, I however paid them out of pocket, and have been fighting with them since last year in March to get refunded my payment that I made. I was told they were not an outgoing call center so no one could call me back with an update, however, that is ridiculous. I simply would like my Tax payment applied to my account or sent back to me via check as soon as possible.
Business response
02/03/2025
GMFS has reached out to our sub servicer to provide the pay history on the account. GMFS received the attached response from the sub servicer (*****************) along with a copy of the pay history on the loan. We hope this solves the problem for the borrower and GMFS apologizes for any inconvenience this has caused.
Customer response
02/03/2025

Complaint: 22810865

I am rejecting this response because:
Payment was not made directly to GMFS, it was made to EBR sheriff tax department, and I sent in proof of tax payment to an online portal.
I have added proof on my end.
I was supposed to repaid that amount, which i do not see on the pay log.
Or if it is on their, can someone mark it and resend?.
Sincerely,

******* ******
Initial Complaint
11/19/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
GMFS is attempting to fraudulantly charge me for me for homeowners and flood insurance for a condo that I already pay HOA fees for those services. I called their servcie department, and was basically told that this is my problem to fix, not theirs. I was told to upload supporting documents to their website, which keeps timing out when I try to access my loan. I have tried for several days. I am attaching proof of both flood and homeowners insuarance, which I offered to send the young lady when I spoke to GMFS service department. She insisted that I can only upload the documents to the website, which isn't funcitoning. I feel like I'm being scammed.
Business response
12/05/2024
GMFS reached out to the subservicer to investigate this complaint. Late yesterday we received a request from the subservicer (**********) to allow them until 12-13-24 to fully investigate and review the insurance on the building and residence and compare it to the amounts already paid by the borrower and what (IF ANY) is still due. GMFS will continue to follow up on this until the correct information is provided to the borrower
Initial Complaint
11/12/2024
Complaint Type:
Service or Repair Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
On June 25, I made a payment of $2149.89 To GMFS for my July mortgage payment, This was a recurring payment made same day every month. My mortgage was sold to ** ****** beginning June 1. I realized too late that the payment needed to be changed to ** ****** as they are new servicing company. I was not worried because the paperwork from GMFS advised if during the first 60 days of the transition any payments came to them, they would be automatically transferred. Upon getting a bill from *** ****** with a past due amount on it, I tried to called *** ****** for help. I was told not to worry, it would be transferred to them, but they had 60 days to get it to them. On 8-25 the payment had not been transferred so i called GMFS to talk to them about the situation. However, they no longer recognize me as a customer from my loan number or telephone number. They give no other option to connect to a live person and disconnected the call. I have called *** ****** for help and they are very reassuring that they know what to do and will call me back on specified dates, but nothing has happened as yet. I am now getting late payment notices and calls from them. It is now FIVE months since the payment was made and don't know what to do about this. My bank has checked the payment and show it was paid to GMFS, I have never been late making a mortgage payment, but I am not able to make the payment again just because they won't transfer it to the new mortgage company. My loans have been sold before and I have never had this kind of trouble.
Business response
11/29/2024
GMFS has reached out to *** ****** to make sure all payments received by GMFS have been properly accounted for and that *** ****** is in possession of them. As of this morning, we have not gotten a response from *** ******. GMFS will continue to follow up with *** ****** until this matter is resolved to the borrowers satisfaction. We apologize for any inconvenience the sale of the loan has caused the borrowers.
Initial Complaint
10/22/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
My mortgage statement recieved in August stated $654.83 due on Sept 1, 2024. I sent $660.00 which was recieved on 9/13/24 by their servicing company **********. This was within the grace period. ********** did not apply the payment to my mortgage stating different reasons every time I called. First I was told that my payment increased on 9/2/24. On another call I was told that they sent the statement by mistake not showing the increase that they had sent a letter about 2 months or so before. I knew that my payment was going to increase at some point due to my insurance premiums were higher but I pay my mortgage by the statement sent to me. The Sept statement showed the new payment amount of $721 and change due Oct 1, 2024. This was paid on time also. Due to them not applying the the the $660 payment to Sept 1 statement which was paid in full as per the statement sent to me they applied the Oct payment to Sept and are now charging me late fees. All payments were paid as per the statements sent to me by their loan servicer **********. I should not be charged any late fees and nothing about a late payment should go on my credit report.
Business response
11/06/2024
GMFS has reached out to the sub-servicer ********** when we received this complaint and copied them on exactly the borrower was having. Today, the subservicer contacted GMFS and asked for a 1 week extension on the response Until 11/13/24). The reason they need this time was " we have not arrived at a resolution for the inquiry submitted on 10/21/24. GMFS apologizes for the delay in getting an answer to the borrower and the Better Business Bureau. We will stay in contact with ********** over the next 5 business days until we are provided a better explanation and hopefully resolution for this issue. GMFS takes these complaints very seriously and we will work with our subservicer until a final answer is provided. We apologies to the borrowers for this inconvenience.
Customer response
11/12/2024

Complaint: 22458571

Still waiting on response from GMFS Mortgage. Replying now because BBB closes the complaint if I do not respond in 7 days.I have reviewed my account online and adjustments have been made. I am still being charged 2 late payment fees of $3.40 each. As I paid $725 twice against a note of $721.60 the two overages of $3.40 should be applied to the principal not late fees. This needs to be adjusted correctly and nothing about late payments should go on my credit report.

Sincerely,

**** *********
Business response
11/14/2024
We received this response from our servicer last night

"The loan was suppressed from reporting September 2024 but I’ve updated it to reflect Current in the pay string, which will be transmitted to the CRAs in our next monthly file. This will take a few weeks for the CRAs to implement the change.

The credit screen reflects the 24 month pay string reflecting no late reporting. And I also dropped a comment when I updated September’s info on 11/5/2024."

So our servicer has identified the issue and will be sending the correction to the Credit Reporting Agencies with the next monthly data stream. As you can see be their response above, the last 24 months will reflect no late payments
We hope this will correct the issue for the borrower and again apologize for the inconvenience
Customer response
11/19/2024

Complaint: 22458571

I am rejecting this response because:
I am still being charged a $19.70 late fee per the attachments. It shows 2 late payment fees of $3.40 each being paid and that I still owe $12.90 late fee. There should be no late fees as all payments were made on time in the amounts sent to me on my mortgage statements. This needs to be corrected and the two $3.40 fees need to be applied to principal balance as I rounded my payments to $725.00. THERE SHOULD BE NO LATE FEES! I do appreciate you correcting the rest of the account as none of this was my fault but was all caused by your loan servicer **********. Please correct the problem with the late fee.
Sincerely,

**** *********
Business response
11/20/2024
GMFS reached out to our servicer upon receiving this rejection notice and requested the fees mentioned be waived. We receive the response below from our servicer this morning (11-20-24)
From **********

"I’ve waived the outstanding late fee of $12.90 and requested to have the paid late charges in the amount of $19.70 reversed and applied towards principal. I will monitor to ensure they are reversed."

GMFS once again apologizes to Mr. ********* for the inconvenience he has experienced over this matter. We hope this action will resolve the matter

Customer response
11/26/2024

Complaint: 22458571

I am rejecting this response because:
Please look at the attached payment history. I have never seen anything as confusing and stupid as this. According to my calculations I should have another $3.40 reduction in principal as my last payment was also $725.00. I never had any problems in the many years I have had a mortgage with GMFS until you switched to **********. Their customer service is horrible, they do not return calls or messages left online. Their employees are rude on the phone and have no idea what they are doing. They will ruin GMFS's good reputation. I am not just venting but am honestly trying to convey a serious problem to the management of GMFS.

Sincerely,

**** *********
Business response
12/04/2024
GMFS reached out to our subservicer Newrez/********** to provide a clearer explanation regarding the application and reversal of the charges appearing on Mr. *********'s mortgage statement. We have attached to statement and the explanation to this response.
We would like to clarify something for Mr. ********* as well. GMFS did not decide to change its servicing company. Unfortunately the servicing company used by GMFS (Called SLS), was purchased by Newrez/********** back in June of 2024. This appears to be when the issues with Mr. *********'s account began. GMFS has had ongoing conversations with Newrez/********** regarding the *********'s account in order to get the figures correct. Mr. *********'s comments are not taken lightly by GMFS and we are currently looking for better solutions regarding our subservicing partner. GMFS once again apologizes to Mr. ********* for the frustration and inconvenience this issue has caused him.
Initial Complaint
10/21/2024
Complaint Type:
Customer Service Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
My loan was sold by gmfs to ***** *****. Gmfs refuses to show the old mortgage account as closed. Now I have 2 separate open mortgages on my credit. This issue has persisted for months and is severely limiting my ability to utilize my credit.
Business response
11/04/2024
GMFS has sent the borrowers complaint to the sub servicer on this loan and asked them to remove the extra mortgage. We also are contacting the credit agencies to let them know about the issue and to make sure only 1 mortgage will be reported. GMFS is sorry for any inconvenience this has caused the borrower. It is our intent to correct this issue as soon as possible
Customer response
11/04/2024

Complaint: 22444576

I am rejecting this response because:
The loan is still showing double on my credit.
Until it is removed I will not be satisfied. I have spoken with GMFS months ago about this issue and it still has not been dealt with to my satisfaction. It should have never happened in the first place. GMFS is in clear violation of the FCRA for doing this to my credit.
Sincerely,

******* ******
Business response
11/11/2024
Once the credit agencies have been told about the error, it is possible the mortgage will not be updated by the credit reporting agencies until the next month's information is provided. This could be an issue with the repository (Experian, Transunion and Equifax. Or it may be because the credit issuing company that is being used has not updated the information.
I am going to follow up with my servicer to make sure that only 1 mortgage is being reported to the credit agencies. GMFS again apologies for the inconvenience the ******* ****** has incurred over this issue.
Initial Complaint
09/26/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
My correct Escrow amount was not transferred correctly when my loan was transferred to *** *******
Business response
09/26/2024
We have attached the pay history for the **** loan along with the escrow balances. I believe the borrowers may have misread the statement they provided for the complaint. The figure of $1773.63 the borrower mentions in the complaint was the amount of escrow payments made on their behalf. The escrow balance on the statement actually is the -614.78 a little higher on the statement. Because the balance was negative, when the loan was transferred, the payment was adjusted to account for the negative balance. We apologize for the concern this has caused the borrower. But we hope this helps clarify the escrow balance for them
Initial Complaint
09/04/2024
Complaint Type:
Customer Service Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
GMFS failed to pay my flood insurance out of escrow on time due to an error on their part. The error was corrected prior to my flood policy ending but they still failed to pay on time. My flood policy has since been canceled for non payment and when I contact GMFS to get the situation corrected, they refuse to help. They tell me they have 45 days to pay, but unfortunately my insurance company only gives us 30 days. I asked that they overnight the funds to the insurance company and they did not. I have the check number that was supposedly issued but the insurance company has still yet to recieve payment. It happens to be hight of Hurricane season and our house is on a river and now have no flood coverage because the mortgage company made a mistake and I can't afford to pay for the coverage outright.
Business response
09/05/2024
In response to the complaint above we have verified through the insurance agency that the Flood insurance premium has been paid and there is active flood insurance. We have spoken with Mrs ****** and informed her of this and apologized for the delay in getting the premium paid in a timely manner. Per our call she verified that the insurance company had notified her as well that the policy has been paid and is in force.
Initial Complaint
08/21/2024
Complaint Type:
Billing Issues
Status:
Answered
The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
GMFS sold my mortgage to *** ******. ******* *** bill pay sent a July 3rd payment to GMFS. GMFS never forwarded the money to *** ****** for credit with the new mortgage company. **** ****** says I need to contact GMFS. GMFS no longer answers their phone lines and has UNLAWFULLY KEPT A PAYMENT THAT DOES NOT BELONG TO THEM!!!
Business response
09/04/2024
GMFS reached out to the new servicer of the loan (*** ******) to provide a detailed explanation of the payments received or forwarded at the time of the transfer. We have attached their response. GMFS hopes this matches the information the borrower has in terms of their payments and apologies for any inconvenience has caused the borrower.

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