Complaints

• Initial Complaint

  08/30/2023

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  Newrez is my mortgage company. They regularly send me junk mail unrelated to my mortgage that I never asked for and do not offer any way on their website or phone menus to opt out of getting this junk mail.

  Business response

  09/12/2023

  Hello, ************,
  
  Thank you for contacting Newrez regarding the multiple marketing materials you have received. We have opted you out of emails and mail for refinancing marketing materials. Please allow 10 days for the emails to stop. Additionally, please allow up to 12 weeks for direct mail to cease.
  
  We appreciate your patience during this process, and if you require any further assistance, please contact us at CustomerAdvocacy@NewRez.com, and we will be happy to assist you.

• Initial Complaint

  08/11/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  Same problem as I see others complaining about - trying to refinance and the company is incredibly unresponsive and keeps asking for the same documents repeatedly. We paid credit and appraisal fees, and our interest rate lock is about to expire. Would not go through this again.One of the most ridiculous documents they are asking for is our mortage statement - they are our current lender! And worse, when I try and download our current mortgage statement, I get an error from their web site.

  Business response

  08/31/2023

  August 31, 2023

  Dear *** ******:
  

  This letter is in response to your BBB inquiry dated August 18, 2023, which was forwarded to NewRez Customer Advocacy Team concerning the referenced refinance application. We
  appreciate your patience while we researched this matter thoroughly. 
  

  In your inquiry, you mentioned that the processing times exceed initial expectations, and there's a need for multiple documents which are being requested on multiple occasions.
  Our records reflect that you initiated a loan application on June 27, 2023, which was conditionally approved on July 5, 2023, but please note that conditional approval does not represent a commitment to lend, as all conditions must be satisfied. Moreover, during the underwriting review of the application, supplemental documents or information could be requested.
  

  Your loan is still in process and pending information from your employer and you. You have been in contact with the processor **** ********. Once these have been received your loan will be resubmitted for final underwriting.
  

  Should you have any questions or concerns, please feel free to email us at CustomerAdvocacy@Newrez.com or your processor **** ******** at john.simmons@newrez.com.
  Newrez firmly believes that your application was processed professionally and in accordance with all applicable laws, regulations, and industry guidelines.
  

  Sincerely,
  Customer Advocacy Team
  Newrez LLC

• Initial Complaint

  06/22/2023

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  Home was sold on 3/17/23 when VA mortgage was assumed and balance in escrow account was $5,620.32. Newrez bank attorney advised us that Newrez would issue a refund within 30 days. Over 90 days and no check was received and Newrez will not discuss or give any information since I do not have an account with them any longer

  Business response

  07/06/2023

  July 6, 2023 

  Dear *** ****,  
  

  NewRez appreciates the opportunity to respond to your Better Business Bureau (BBB)  complaint. In this complaint, you stated that didn’t remaining escrow balance of $5,620.32.  
  On behalf of NewRez we apologize we didn’t meet your expectations and apologize for any  inconvenience this caused. A check in the amount of $5,620.32 has been mailed to the address you  provided in this complaint. Please allow 14 business days for this to arrive via regular USPS mail.  
  

  If you have any further questions, please contact us directly at customeradvocacy@newrez.com and we will assist you. 
  

  Sincerely, 
  Customer Advocacy Team 
  NewRez LLC

  Customer response

  07/13/2023

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  Regards,
  
  *********************
  

• Initial Complaint

  03/25/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  If only there was a 0 star, worse experience I have ever had, never an answered call, returned vm, read email just pathetic, we got pre-approved with ******************* prior to looking at beach houses was then encouraged to give earnest money, did and next day they were like oh no maybe wait on that were not done with underwriting, once figured out back on track after losing our paperwork and re sending the exact same thing multiple times we were fortunate enough to miss our first closing on 3/3 which we were told 1 day prior, to now move it to 3/10 after then being drugged to the last possible minute we were once again guaranteed a closing and encouraged to get a cashier check for 150k made to attorney, at this point new people like ********************* or **** or even ****** began to talk to us since there were issues but most left you hanging like the others, we took kids out of school/ work drive 4 hours for a 9am close, 1 hour from arriving the call us now 7pm they are backing out because property is ineligible, a property we told them before we ever made an offer, our earnest money gone/ inspections gone/ we are even paying the electric bill at this place, do they return a call now, no they did say I'm sorry so that was nice

  Business response

  04/05/2023

  April 3, 2023 
  Dear *** *****: 
  This letter is in response to your BBB inquiry dated March 29, 2023, which was forwarded to  NewRez Customer Advocacy Team concerning the referenced purchase application. We appreciate  your patience while we researched this matter thoroughly.  
  In your inquiry you said that communication was poor and on the day of closing you were  informed that the condo project was ineligible.  
  Our records reflect that you initiated a loan application on February 2, 2023, which was  conditionally approved on February 7, 2023, but please note that conditional approval does not  represent a commitment to lend, as all conditions must be satisfied. Moreover, during the  underwriting review of the application, supplemental documents or information could be requested. 
  The loan application was rejected because the condo in question was deemed ineligible. This  was revealed when the condo association provided a questionnaire, which disclosed that the condo  project is currently involved in litigation and lacks adequate flood insurance. Despite the project's  requirement of $60 million in flood coverage, it only had $15 million. As the litigation is ongoing, the  loan must be declined in accordance with underwriting guidelines. The earnest money is not held by  NewRez. The appraisal was completed in good faith and therefore will not be refunded.  
  Should you have any questions or concerns, please feel free to email us at CustomerAdvocacy@NewRez.com. NewRez firmly believes that your application was processed  professionally and in accordance with all applicable laws, regulations, and industry guidelines.  
  

  Sincerely, 
  Customer Advocacy Team 
  NewRez LLC

  Customer response

  04/06/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because: I specifically showed you address of condo prior to even making an offer ************************* new exactly which condo so me as a customer don't even know about a condo questionnaire exists was encouraged to make offer I then being very **** gave a play by play to ******* that they accepted offer and required a due diligence of 5k, I was encouraged to give, then dragged thru an entire charade by you idiots that we would close all the way up to me getting a cashier check with encouragement from ******* and ***** of a 150k removing my kids and self from school / work to drive 4 hours away for a 9am close you idiots scheduled, I love your no response to me directly even tho I have now 10x, emailed 5x and just completely ghosted I love your care free attitude of oh well it happens, I'm a builder and would love to build you idiots a house and it to collapse on you and just say oh well conditions are likely, I'm young and have money so I will buy alot of houses in my lifetime, never with you *** I did end up buying a beach house in cash without you idiots, I want my 5k or I will sue you, still ********************* ************
  
  Regards,
  
  *********************
  

  Business response

  05/04/2023

  As previously stated in our response dated March 29, 2023. In your inquiry, you said that communication was poor and on the day of closing you were informed that the condo project was ineligible.  
  

  Our records reflect that you initiated a loan application on February 2, 2023, which was conditionally approved on February 7, 2023, but please note that conditional approval does not represent a commitment to lend, as all conditions must be satisfied. Moreover, during the underwriting review of the application, supplemental documents or information could be requested.
  
  The loan application was rejected because the condo in question was deemed ineligible. This was revealed when the condo association provided a questionnaire, which disclosed that the condo project is currently involved in litigation and lacks adequate flood insurance. Despite the project's requirement of $60 million in flood coverage, it only had $15 million. As the litigation is ongoing, the loan must be declined in accordance with underwriting guidelines. The earnest money is not held by NewRez.  

  NewRez firmly believes that your application was processed professionally and in accordance with all applicable laws, regulations, and industry guidelines.  

  Please note that we now consider this matter closed.

  Customer response

  05/11/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because: they can't just simply say they see this matter as closed so it is, they are the professionals I understand they found property to not be warranted but isn't that something they should look into prior to encouraging me to give a 5k due diligence,  giving me a closing date not 1 x but twice and telling me the exact amount I need to bring is 150k and me , my kids etc taking off work traveling 4 hours away, paying for hotel to be told oops hang tight we don't know if we can now close, this is your field of expertise,  as a builder can you hire me to build your house, pay me and then I build, it falls on you kills you and I say we'll I looked at the lot later and it's not perked for building I therefore  see this matter closed, now new rez guarantees you close on day they say or you get 5k, they missed my close 2x, next time shouldn't they check the condo questionnaire prior to encouraging customer to pay non refundable money, I as a non financial loan officer knowing nothing about underwriting didn't even know a questionnaire existed, at the end of the day there terms are bs this is a 300 unit condo with a multi million dollar hoa that has existed perfectly since 1985, they just messed up and have unprofessionally ghosted me since
  
  Regards,
  
  *********************
  

• Initial Complaint

  03/02/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Answered

  More info

  I file a home refinance application with newrez after they kept sending me mail with favorable refinance terms. When i file my application online where i almost completed or submitted the application the closing costs total almost $10K. For a 30 year fixed, it was estimated i would save $433.30 and will recover the cost in 6 months ($2,599 in refi fees). However, this does not take into account another $6K cost. The principal and interest was estimated at $841 / mos. I called newrez support trying to clarify where the other $6K came from. The agent told me it was escrow which their old IT system calculate towards my payment. I told him i pay property and insurance separately. He assured me it will be removed. He then proceeded starting a new application on my behalf which i am not told nor aware of. He finalizes the paper without my approval. The interest rate was higher than previously quoted when i started the application (6.375% / 6.667% APR). This is a bait and switch strategy. In addition newrez sold my refi request to third parties companies who bombarded me with calls on my personal cell phone. I did not authorized nor seek to refi with Rocket Mortage or any third parties. I request that newrez withdraw my application and STOP or retract of selling my information to third parties. This is causing SPAM calls nonstop to my phone.

  Business response

  03/17/2023

  March 17, 2023 
  Dear BBB for *** ****, 
  We are writing in response to the inquiry filed with the Better Business Bureau regarding the  
  refinancing offers provided by NewRez LLC, which was received on March 3, 2023. 
  Our records indicate that *** **** submitted an online loan application on March 1, 2023. ***  **** had concerns with the closing costs, pre-paid items, and escrow funds. ****** ***** explained that  the pre-paid items included escrows, which could be removed. After reviewing the disclosures, *** **** ultimately decided that the terms were not acceptable and chose to cancel the application. 
  Please be advised that the marketing materials *** **** received are general in nature and aimed  at encouraging potential applicants to explore their refinancing options. As per *** ****’s request to opt out of receiving marketing materials from NewRez LLC, we have removed him from our mailing list.  However, please note that it may take up to 12 weeks for the removal to take effect for direct mailing  purposes. 
  Should you require any further assistance, please do not hesitate to contact us at customeradvocacy@newrez.com. 
    
  Sincerely, 
  Customer Advocacy Team 
  NewRez LLC
  
  

• Initial Complaint

  02/06/2023

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  I called to see about deferring 1 payment after 2 years never being late on my mortgage they automatically put me thru to a person who told me they don't defer payments but he could get me refinance with cash out to fix my home pay bill exct. TOLD ME IT WOULD COST ME NOTHING!! Well after $20 credit check within 2 days I was getting multiple email and text saying my loan was pretty much going thru they sent out appraisal ask me to get a $150 termite inspection and I did and the next day they called me said the appraisal was too low and they can't do it!! I explained to them in the beginning there was no comps to compare in my area due to a hurricane there was no homes for sale... they kept saying no worries.. well I'm out $170 @ im in worse shape than before I started this!! They refused to refund me my money. I will never use this company again. I'm a veteran and I will look for a advocate and see if they can help me.

  Business response

  02/17/2023

  February 17, 2023 
  Dear *** *****: 
  

  This letter is in response to your BBB inquiry dated February 7, 2023 which was forwarded  to NewRez Customer Advocacy Team concerning the referenced refinance application. We  appreciate your patience while we researched this matter thoroughly.  
  

  In your inquiry you advise that you applied for a refinance, and you were informed there  would be no cost to you.  
  

  Our records reflect that you initiated a loan application on January 24, 2023, which was  conditionally approved on January 25, 2023, but please note that a conditional approval does not  represent a commitment to lend, as all conditions must be satisfied. Moreover, during the  underwriting review of your application, supplemental documents or information could be requested. As part of our underwriting review, an appraisal was ordered, but you were not charged for this  service. Also, an underwriting condition to have a current termite inspection was required.  Unfortunately, the appraisal value came in lower than anticipated, and the loan was withdrawn. On  behalf of the NewRez, we are refunding the $150.00 termite inspection fee if you can send us a copy  of the invoice (as communicated to you via email on February 13, 2023), and the $20.00 credit  reporting fee.  
  

  We regret the loan application experience did not meet your expectations. We appreciate the  opportunity to address your concerns.  
  

  Sincerely, 
  Customer Advocacy Team

  Customer response

  03/09/2023

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me. 
  
  Regards,
  
  *********************
  

• Initial Complaint

  01/20/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I am a disabled veteran, single mother, and the Buyer in VA loan assumption #*********** with NewRez/**********. The Seller is also a disabled veteran. On 11/1/22, I submitted all requested documents, including a Uniform Residential Loan Application (URLA) and proof of income and assets to ********** Assumptions. On 11/10/22, ********** Assumptions said the package was submitted to NewRez for underwriting. On 11/28/22, NewRez loan officer advised I needed to submit documents again, including a new URLA, because he had not received everything from ********** Assumptions. I immediately submitted everything again. On 12/19/22, NewRez loan processor emailed "You are conditionally approved". I immediately provided everything requested in the conditional approval. On 1/5/23, NewRez loan processor emailed "your loan application has been conditionally approved". I immediately provided everything requested again. On 1/12/23, NewRez loan processor emailed "I have received an updated conditional approval". I immediately provided everything requested again. As of 1/19/23, I am still awaiting final approval. I have submitted many documents two and three times. I have been "conditionally approved" three times in one month. I complied with every condition immediately. We opened escrow in October 2022. It's now late January 2023, and two disabled veterans and their families are being denied the timely use of VA benefits by NewRez/**********. Proof of NewRez conditional approvals 1 to 3 are attached.

  Business response

  01/24/2023

  January 24, 2023 
  Dear *** ********, 
  This letter is in response to your Better Business Bureau inquiry dated January 20, 2023, which was forwarded to NewRez Customer Advocacy Team concerning the referenced assumption application. We appreciate your patience while we researched this matter thoroughly.  
  In your inquiry you advise that you feel that you have provided everything requested to  complete your refinance, but Newrez is asking for additional information.  
  Our records reflect that you initiated a loan application on November 28, 2022, which was  conditionally approved on December 19, 2022, but please note that a conditional approval does not  represent a commitment to lend, as all conditions must be satisfied. Moreover, during the  underwriting review of the application, supplemental documents or information could be requested. 
  On behalf Newrez we apologize for delays in processing your loan application. Per the title  company you are scheduled to close your loan on January 26, 2023. If you have questions about your  closing please reach out to your loan officer Lacey H*** ****@newrez.com or at ###-###-####. Newrez firmly believes that your application was processed professionally and in accordance with all  applicable laws, regulations, and industry guidelines.  
  

  Sincerely, 
  Customer Advocacy Team 
  Newrez LLC

  Customer response

  01/25/2023

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.  However, the response is factually incorrect in that I initiated an application on November 1, 2022, with NewRez affiliate **********. The response fails to address the initial one-month delay while my application went from ********** to NewRez.
  
  Regards,
  
  ***************************
  

• Initial Complaint

  01/13/2023

  Complaint Type:

  Order Issues

  Status:

  Answered

  More info

  In August 2020 my husband ************ refinance our home. We have a copy of our closing documents from our loan that was refinance with Newrez in August 2020. The ones Newrez destroyed.. I have all the emails between ****************** and loan officer ******************** the ones who exploited Newrezs incompetence. Newrez closed on our house and then breach our contract and didn't tell us the truth. Because Newrez was trying to hide the fact that they closed on a house that had a lien on it from **************** that we didn't have a clue about because why would our pool company put a lien on our house 10 weeks after we bought it when they took my payments directly out of my account. There was no miss payments. Newrez tried to shift the blame on my husband **** and alleged he didn't report the pool that I bought that is in my name that I made the payments threw with my own separate account and paid the pool off and took the lien of our house. I'm not on the loan. Therefore what's on my credit don't reflect my husbands credit. That's a problem for Newrez. Newrez used from what they say (canceled reference loan) my husband signature from a canceled refinance loan and emailed it to *************** asking for a payoff quote. ************** with **************** contacted me when Newrez emailed him wanting a payoff quote using my husbands signature. Newrez forage my husbands signature. Newrez then started harassing my husband for payments specifically the August & September of 2020 mortgage payments after he closed on his refinance. My husband received bills for his newly refinance loan and old loan. Because of the harassing calls from Newrez demanding payments my husband became extremely stress of going without a mortgage payment so he gave in and made the August & September payments over $3,000. For three weeks after my husband made those payments he was harassed on a daily basis by Newrez stating they never received his payment. Newrez was trying to hide the breach of contract so of course they put my husbands money in a separate Newrez account until they figured out how to fix their big screw up. Since our issue was hired up then your representatives they didn't have a clue where my husbands money was and that's why they were harassing him for payment. Even Senior Sales Manager ********** emailed me asking for payment. The same payment my husband already made. What's he got to do with it? Senior Counsel ****************** emailed me for payment. How the h*** did he get involved? Because there was a breach of contract on Newrez part. Because Newrez had proven to us time after time they were all incompetent my husband stop making payments and started putting his mortgage payments in a separate account to prove my husband had his mortgage payments all along but no way in h*** was he going to give anymore money to Newrez until they got their **** together. Because of this Newrez continued to harass my husband for payments and then threatened us of foreclosure. My husband had no choice but to sign the motification with Newrez or Newrez was going to take our dream farm. The home that we put $65,000 down on. That we built up and Newrez illegally tried to take it away from us. We never had a problem paying anything of ours was just looking to save some money while the pandemic was going on. We have proven there has never been a issue in our finances. My husbands refinance was Never recorded. I still have the copy Newrezs notary left us the day he closed on the new refinance. ******************** confirmed in her email to me that Newrez had destroyed the copies they had. Then Newrez sells our loan off right after my husband signs the mortification. How convenient. Newrez breach the contract, made several fraudulent acts towards us, lied, cost us thousands, emotional stress from h*** for the past 2 1/2 making us think we were going to loose our home for Newrezs incompetence. Newrez commitment fraud against us.

  Business response

  01/20/2023

  Thank you for contacting Newrez.
  
  Based on our research, we have determined that this issue was previously addressed in November 2020.  Please see attached letter dated November 2, 2020.
  

  Customer response

  01/26/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because: Newrez/********** please explain to me why my husband received this email requesting payment when my husband made these payments three weeks prior and Newrez refused to acknowledge it repeatedly sending emails for payment and calling my husband on a daily basis for payments he already made? Can Newrez explain to me why they closed on a house that had a lien on it before informing my husband before closing and then keeping the truth of what happen from us for weeks after closing? Why your customer service repeatedly gave us different reasons as to what might of happened? Can Newrew explain why they used my husbands signature from a cancelled refinance loan and emailed it to **************** for a pay off quote? 
  
  
  Regards,
  
  *************************
  
  
  
  
  
  
  
  
  

  Business response

  03/21/2023

  Thank you for contacting Newrez.
  
  Based on our research, we have determined that this issue was previously addressed in November 2020. 

  Customer Advocacy

  Customer response

  03/23/2023

  [To assist us in bringing this matter to a close, you must give us a reason why you are rejecting the response. If no reason is received your complaint will be closed as Answered]
  
   Complaint: ********
  
  I am rejecting this response because: We are requesting a 250,000 settlement due to Newrezs illegal acts towards us after my husband refinanced his loan with Newrez on August 4th, 2020 and Newrez tried to cover it up with incompetence, lies, and fraudulent acts. Newrez cancelled my husbands refinance after closing and didnt inform us until a month later. Newrez fraudulently used my husbands signature that was on his closing contract with Newrez 3 months later and emailed it to ****************. This is fraud. As you can see from ******* email to me she admitted to using my husbands signature that was on a voided contract. Theres never a good enough excuse for using someones signature that was on a voided contract 3 months later. Complete fraudulent acts by Newrez. Then Newrezs attorney emails me wanting to settle and then emails me later stating he sees no errors after our request for a $525,000 settlement. Oh there was plenty of errors with fraudulent acts. As you can see this was NOT resolved. Newrez is lying. Again trying to cover up their fraudulent acts towards us threw BBB. 
  
  Regards,
  *************************
  

• Initial Complaint

  11/22/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  Short version: Consistent miscommunication, employee turnovers and underwriting mistakes make this a lender to avoid. On the day of closing they told us we were DENIED after giving the "Clear to close." Long version: Applied for a Home Equity Loan with New Rez. Promptly submitted all documents and paid the appraisal and credit score fee. After multiple delays and the need to restructure the loan several times on New Rez's end we were offered a closing amount much less than what we were initially approved for. We accepted the amount and were cleared to close by New Rez. The morning of closing, the notary did not show up. Neither our processor or anyone involved at New Rez answered our calls. We had made schedule adjustments with work to accommodate the closing. The loan officer at New Rez called me and explained that the loan was denied at the last minute due to our debt to income being to high, the loan amount, and the fact that the property against which the loan was secured was paid off. How is having a paid off property a problem?? I read this as discriminatory against clients who do not offer the most lucrative payoffs New Rez desires. I believe New Rez has determined that it is not profitable to lend us a small amount because they are afraid they won't get as much money back in interest on a small loan. All this while greedily taking appraisal and credit score fees during these difficult economic times and not even having the courtesy to notify us that--contrary to what we were told--the closing was not going to happen. This is another example of a big company taking advantage of consumers. Really disappointing.

  Business response

  12/07/2022

  December 7, 2022 

  Dear *** ********,  
  

  This letter is in response to your inquiry with BBB that was received on November 23, 2022. In  your complaint, you stated you were attempting to obtain a Home Equity line of Credit. During this  process, you stated that communication was not efficient, there were multiple delays with the loan  application, and you had to provide documentation. You also requested an appraisal refund. 
  

  Newrez takes great pride in our relationships with our clients and takes allegations of potential  discrimination very seriously. It is our policy that all consumers and customers are treated without regard  to race, biological sex, sexual orientation, gender identity, color, creed, religion, national origin, marital  status, familial status, age, disability, military or veteran status, receipt of public assistance, or any other  protected status. 
  

  Our records reflect that you initiated a loan application on September 15, 2022, which was  conditionally approved on October 3, 2022, but please note that conditional approval does not represent a  commitment to lend, as all conditions must be satisfied. Moreover, during the underwriting review of the  application, supplemental documents or information could be requested. 
  

  Upon review, it has been determined that your initial loan application was not properly structured.  When calculating your debt-to-income ratio (DTI), we did not include the subject property monthly  payment. Once this error was discovered, it increased your DTI substantially. Please note that you  cancelled your loan application on November 21, 2022 
  Newrez has refunded the appraisal fee of $550.00 and the Credit reporting fee of $20.00 as a  courtesy. This was processed on November 23, 2022 and takes 7-10 business days to reflect on your  credit card. 
  

  On behalf of Newrez we apologize we are unable to meet your refinancing needs currently. If you  have any further questions, please contact us directly at customeradvocacy@newrez.com and we will assist  you. 
  

  Sincerely, 
  Customer Advocacy Specialist 
  Newrez LLC

• Initial Complaint

  10/27/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I contacted NewRez regarding a refinance and was transferred to Brian W******, a loan consultant. While talking to him, i was told i would not have to pay the Mortgage payment for September. The process moved on and i did everything they asked me to do and made it through to closing. The date for the closing was scheduled for Sept 28th. Because of a computer glitch, i was told the closing was pushed back to October 3rd. I received another call telling me the closing had been pushed back again to October 5th because of the Newrez computer system. The closing took place on October 5th with an attorney. All documents were signed. Several days later, i was told i needed to pay the September mortgage payment which i immediately did. Several days after getting no response by email, i received a call telling me that my paperwork went to management and my loan refinance was canceled. I was told Brian W****** was supposed to call me about my loan but he never did. I sent Brian W******* an email demanding an explanation but never received an answer. Still have not heard anything about why/how my loan was canceled AFTER it was closed. I'm very disappointed with Newrez and how this all happened. Also, in the middle of the process, Caliber Home Loans which is also NewRez transferred $525 without any type of authorization from my bank account. I received the money back after calling and complaining but it was also blamed on a computer glitch.

  Business response

  11/17/2022

  November 16, 2022 
  

  Dear *** ********,  
  

  This letter is in response to your inquiry with BBB that was received on November 4, 2022. In your complaint you stated you were attempting to refinance your loan officer Brian W*** told you  not to make a payment for September. You also indicated that you were closing on September 28th and the closing date was pushed out to October 5th and ultimately resulted in a denial of the refinance.  
  

  Please note that all contractual mortgage payments are due up until the funding date on any  new loan. Your estimated loan closing date was September 28, 2022, but the scheduled closing did  not occur until October 5, 2022. Upon our final underwriting review, it was revealed that your  September payment on your existing loan had not been made. The late payment resulted in the denial  of your application. Your appraisal fee of $525 was refunded back to you on August 17, 2022, as a  courtesy. 
  

  While we regret the loan application experience did not meet your expectations, we did not  find any information suggesting that you received disparate treatment during the loan application  process. We appreciate the opportunity to address your concerns, and should you have any questions  you may email us at CustomerAdvocacy@Newrez.com.  
  

  Sincerely, 
  Customer Advocacy Specialist 
  Newrez LLC

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