Consumer Complaints
There are over 12 complaints on file for E MORTGAGE MANAGEMENT, LLC. Dated between 2019-10-19 and 2016-12-21.
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Complaints Page 1
2019-10-19
VA
Applying for a mortgage or refinancing an existing mortgage
Mortgage: Conventional home mortgage
Complaint: I received a promotional mailing from E Mortgage Management LLC ( XXXX, NMLS # XXXX ) that made extremely misleading, borderline deceptive claims about the savings I would get from rolling a credit card balance into my mortgage. The mailing contained a table showing my projected monthly payments " Before '' and " After '' combining a credit card debt with a mortgage, in large bold font. However, in smaller, not-bold font, the " After '' payment amount was labeled " P & I Payment. '' As a result, this table compared my principal, interest, taxes, and insurance monthly total ( " Before '' ) to a new principal & interest monthly total WITHOUT taxes and insurance ( " After '' ), which would of course be lower. Underneath the table, large bold text says " You Save {$410.00} Per Month In This Example '' and " That's {$5000.00} Per Year! '' which while technically true, is misleading because it excludes the taxes and insurance that would still be required. This mailing was labeled XXXX on the front and labeled XXXX on the back. Here 's other identifying info for this company from the back of the mailing : E MORTGAGE MANAGEMENT , LLC DOES BUSINESS AS " XXXX XXXX '' IN DELAWARE, NEW HAMPSHIRE, NEW JERSEY, PENNSYLVANIA, MARYLAND AND CONNECTICUT. XXXX XXXX IS A DIVISION OF E MORTGAGE MANAGEMENT , LLC. XXXX XXXX XXXX, XXXX XXXX, XXXX XXXX, NJ XXXX. NMLS LOC ID : XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with explanation
2018-10-29
Tampa, FL
Closing on a mortgage
Mortgage: Conventional home mortgage
Complaint: I began working with E Mortgage Management on XX/XX/XXXX for a mortgage. There were many delays ( the first one due to the seller, all others due to EMM 's errors, delays ). I locked in a rate with XXXX XXXX, VP of Retail Sales, in early XX/XX/XXXX. Apparently, EMM applied at least 4 rate lock extensions without ever consulting with me. I was never told about the extension, I was never told about the fee, and we did not come to an agreement about the date the extension would end. I found out about the rate lock extensions twice : XX/XX/XXXX & XX/XX/XXXX, when they sent disclosure statements. Obviously, the XX/XX/XXXX closing didn't take place ; due to EMM errors and delays. On XX/XX/XXXX, I received a change of circ*mstance document that stated " Rate extended. Lender credit changed from {$990.00} to {$0.00}, and an origination fee of {$990.00} appeared ; Points changed from {$0.00} to {$430.00}. '' I received those documents at XXXX XXXX on a Friday and was unable to view and sign the documents immediately because I was driving. They " rushed '' to get me the disclosure documents because we were supposed to close the following Tuesday. EMM 's delays had put me at risk of losing this home, so I was under duress to sign that day. Obviously, that Tuesday 's closing didn't take place, and after many more delays, I received another disclosure doc on XX/XX/XXXX for a XX/XX/XXXX closing. Again, under the gun to get this mortgage closed so I didn't lose the house and my deposit. I again reached out to XXXX about the fees and his response on XX/XX/XXXX at XXXX XXXX was this : " I have an email into my lock desk. You are reading my mind. I am hoping I can get this worked out today so I can have a portion of the lock extension fees refunded post-closing. I may need your help to make this happen. I will call you in a few minutes. '' He suggested I send an email complaint to him about the rate lock extension fees, which I did on XX/XX/XXXX. I never heard from him again. I reached out to EMM 's President & COO XXXX XXXX on approximately XX/XX/XXXX to try to resolve the issue and get a refund of the {$2100.00} total. His assistant arranged a call for XX/XX/XXXX. We discussed the rate lock extensions, the surprise they were to me, the fact that I was never informed of the fees, the fact that I had been watching rates during my mortgage process and may not have agreed to them in the first place, and he assured me he would look into things further on the EMM side and get back with me Monday XX/XX/XXXX. As of today, I have not heard from him. I am hoping you can resolve this and have my {$2100.00} refunded to me. From your website tips : " If you decide to get a rate lock, you should make sure your rate lock agreement is long enough to cover the time until you close on your loan. If you are concerned that your rate lock period might be too short, ask your lender about switching to a longer rate-lock period now. '' and " Your Loan Estimate will state whether or not your rate is locked but it will not provide you with information about how much it would cost to extend the rate lock, how much you are paying for the specific rate lock time frame, or whether you could pay more or less for a different time frame. You should ask about those details. '' Because these 4 rate lock extensions were not discussed or disclosed to me prior to them taking place, I was not able to either inquire about the length of the extensions or the cost for them. EMM 's practices were not consistent with their " customer for life '' motto or their service I can count on promise. This was not my first rodeo. It was my third mortgage, so I know what to expect and what's just bad practices and company mistakes. So much more went into this horrific experience, but the bottom line is they did not handle these lock extensions appropriately, legally, and in good faith. And I'm the one paying for it.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response Closed with monetary relief
2018-06-26
Friendly Valley, CA
Trouble during payment process
Mortgage: Conventional home mortgage
Company Response: Closed with explanation
2018-01-25
Gervais, OR
Struggling to pay mortgage
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2017-09-07
Bridgeport, CT
Applying for a mortgage or refinancing an existing mortgage
Mortgage: FHA mortgage
Company Response: Closed with explanation
2017-08-03
PA
Applying for a mortgage or refinancing an existing mortgage
Mortgage: FHA mortgage
Complaint: I WAS TOLD BY XXXX XXXX THAT I WOULD N'T BE CHARGED FROM MY CREDIT CARD UNTIL I SIGNED AN APPROVAL. WELL OF COURSE AS SOON AS I GAVE HIM MY CREDIT CARD, I WAS CHARGED THE NEXT BUSINESS DAY. I HAD A HOME APPRAISAL DONE, I WAS TOLD BY MY AGENT THAT I NEEDED {$150000.00} APPRAISAL TO GET THIS DONE. MY LAST XXXX APPRAISALS WERE AS FOLLOW ; XXXX {$170000.00} XXXX {$170000.00} XXXX {$160000.00}. WERE IN A SELLERS MARKET, THE BEST ITS BEEN IN XXXX YRS. AND I GET LOW BALLED BY {$54000.00}? AND THIS IS AFTER I HAD MY WHOLE BATHROOM DONE, A NEW ROOF, ETC. THEY TOOK MY MONEY AND THEY KNEW I WAS NEVER GETTING A LOAN.THEY HAVE THE MAIN OFFICE IN XXXX XXXX NJ XXXX AND AN OFFICE IN XXXX NJ, XXXX.
Company Response: Closed with explanation
2017-06-08
Spring Hill, FL
Closing on a mortgage
Mortgage: FHA mortgage
Company Response: Closed with explanation
2017-05-05
Ehrhardt, SC
Struggling to pay mortgage
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2017-03-27
Discovery Bay, CA
Application, originator, mortgage broker
Mortgage: Other mortgage
Complaint: My husband received a letter from Mortgage Management offering him a {$280000.00} loan against my home. He is not on the title or loan on my home. So I called the XXXX phone number but no answer. Shortly after I received a call from XXXX Alabama regarding my attempt to contact them regarding this letter. I asked how they could be offering money against my property to anyone. Also how many more letters did they send out with my property address on it. The man assured me that it was not fraud. But it sure sound like that to me. I also called XXXX to be removed from their list. - No luck there as well.
Company Response: Closed with non-monetary relief
2017-03-06
Chambersburg, PA
Credit decision / Underwriting
Mortgage: Conventional fixed mortgage
Company Response: Closed with explanation
2016-11-04
South Florida, FL
Settlement process and costs
Mortgage: Conventional fixed mortgage
Complaint: the original loan offer was not what was on the closing statement. I was pressured to sign at the last hours before my previous mortgage payment was due. The facts of the new mortgage were never disclosed to me. EMORTGAGE added a point to the closing costs and manipulated the escrow to make it seem like the payments would be lower.
Company Response: Company believes it acted appropriately as authorized by contract or law Closed with non-monetary relief
2016-10-26
Wesley Chapel, FL
Application, originator, mortgage broker
Mortgage: Other mortgage
Company Response: Closed with explanation
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As an expert with extensive knowledge in the field of finance and mortgage management, I've had the opportunity to delve into various aspects of the industry. My expertise encompasses not only the intricacies of mortgage processes but also an in-depth understanding of regulatory bodies, consumer protection laws, and the dynamics of customer-company interactions within the financial sector.
Now, turning our attention to the information provided in the article about consumer complaints against E MORTGAGE MANAGEMENT, LLC, it's crucial to dissect the key concepts involved:
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Consumer Financial Protection Bureau (CFPB):
- The complaints mentioned are filed with the Consumer Financial Protection Bureau (CFPB). The CFPB is a regulatory agency that oversees financial institutions to ensure consumer protection and fair practices in the financial services industry.
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E MORTGAGE MANAGEMENT, LLC:
- This company is the subject of the consumer complaints. It operates in several states, including Delaware, New Hampshire, New Jersey, Pennsylvania, Maryland, and Connecticut. The company does business under the name "XXXX XXXX."
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Mortgage Types:
- The complaints involve various types of mortgages, such as conventional home mortgages, FHA mortgages, and other types. Each type of mortgage has specific terms, requirements, and regulations.
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Misleading Promotional Mailing:
- One complaint details a promotional mailing from E Mortgage Management LLC that is alleged to be misleading. The consumer mentions deceptive claims about potential savings by rolling a credit card balance into a mortgage. The discrepancy lies in the comparison of total monthly payments before and after combining debts, where the "After" payment excludes taxes and insurance, making it appear lower.
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Rate Lock Extensions:
- Another complaint revolves around delays and errors in the mortgage process, specifically related to rate lock extensions. The consumer alleges that the company applied multiple rate lock extensions without proper communication, leading to surprise fees and changes in terms.
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Issues with Appraisal and Closing:
- There are complaints related to appraisal discrepancies, with one consumer feeling undervalued in a seller's market. Other issues involve surprise fees, changes in lender credits, and origination fees during the closing process.
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Communication and Customer Service:
- Several complaints highlight communication issues, lack of transparency, and unmet promises from company representatives. In some cases, consumers express dissatisfaction with the company's responsiveness to their concerns.
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Resolution and Responses:
- The article mentions that the company responded to some complaints, either choosing to provide a public response or closing the case with an explanation. In some instances, monetary relief was provided.
It's important to note that these summarized points provide an overview of the consumer complaints, and a comprehensive analysis would require a detailed examination of each case, considering the company's responses and any subsequent actions taken.
