New Century Financial

Complaint Experience

N/A

BCA's Summary and Analysis:

Complainants allege a variety of allegations concerning selling practices. billing and other service related issues that are typical in number and nature for this industry. Many complainants allege the company fails to credit payments made when loans are sold or transferred to other companies resulting in negative entries on credit reports. Other customers complain the company fails to honor referral incentives offered or that some loans are denied despite promises by loan officers that loans were already approved. In some cases customers complain that the actual loan agreement was written differently then previously discussed and they were asked to sign with promises of changes at a later date.~~The company has responded to most complaints by offering explanations asking customers to provide evidence of missing payments agreeing to remove negative entries on credit reports or in some cases refunds were issued for appraisal fees when loans were not funded. In a few cases the company's response did not address the complainant’s allegations and the responses were referred back to the company for further consideration

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