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Central Mortgage Funding LLC complaints

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29777 Telegraph Road, Suite 3090
Southfield, MI 48034 | Get Directions

(833) 302-1032

https://centralmortgagefunding...

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Total Amount in Dispute:
$255,000.00

Total Amount Settled:
$0.00

Complaint Experience

100%

Complaint Resolution Index (CRI)

Complaint Resolution Index (CRI) Explained The Complaint Resolution Index (CRI) is an indicator on how responsive a company is in addressing and resolving customer complaints brought to their attention by BCA. If they are considering doing business with the company, consumers can use this indicator to forecast the likelihood of having their issues addressed if a problem arises. CRI measures the company's customer satisfaction abilities through BCA’s complaint mediation process.

A variety of factors are considered when calculating CRI. This includes how quickly a company responds to complaints, the number of complaints against a company, whether the company addressed complaint allegations, and the outcome of the complaints. CRI is just a subset of the overall rating for the company. Consumers are encouraged to take into consideration the company's CRI, their overall BCA letter rating and other relevant information about the company so they can make a well-informed purchasing decision.

BCA's Summary and Analysis:

Our complaint history for this company shows that the one complaint brought to the company’s attention was responded to and given proper consideration.

Complaint Closing Statistics

1 complaints against Central Mortgage Funding LLC closed in last 3 years.

Complaints	Type of response
0	Making a full refund, as the consumer requested
0	Making a partial refund
0	Agreed to make an adjustment
0	Refusing to make an adjustment
1	Refuse to adjust, relying on terms of agreement
0	Unanswered

1 complaints against Central Mortgage Funding LLC

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2/8/2024

RESPONSE: Refuse to adjust, relying on terms of agreement Amount in Dispute: $255,000.00 Amount Settled: $0.00

Customer Complaint

1/25/2024

I was sought out by Central mortgage for a New day VA refinance loan. I requested that if I was to go through with the process, that the loan needed to be done in the same fashion as my existing loan (escrowed). The loan closed 2 weeks later than presented, and caused me undue financial stress. Then almost a week after I received my checks, I was called and told there was an issue and then I haven't been communicated with since. I keep texting and sending emails without follwup communication. Then I got an email from UWM that set a video on how to setup my payment plan. 1) wasn't told that I was originally dealing with a broker, 2) the video had shown me where my loan wasn't escrowed. I called the UWM and explained the situation and they are setting up the escrow for the loan, but I have no idea how much that is going to increase my monthly payment. As a veteran I find this very disturbing and this brokerage (Central mortgage funding) should not be allowed to function under such an inability to perform the tasks they claim they are able to do.... when filing for loans, let alone VA loans... should be a stress free process.... I have never felt so dismissed when doing any business transaction, extremely unprofessional. Resolution Sought I would like to see that Central mortgage be held responsible for everything outside the scope of what was told to me that was going to be accomplished by the use of this New Day Loan.

Company Response

1/29/2024

Hello, After reviewing your refinance process with Central Mortgage Funding, LLC, we have found that your appraisal came short and that you needed to bring cash to close. At that time, you had let us know that you did not have enough funds to pay your mortgage let alone bring cash to close. The disclosures we provided you had shown that you were not escrowing on this refinance and you had signed these disclosures. All the disclosures we provided had UWM as the lender from the initial disclosures to the final disclosures. Also, we lowered your rate than what you were currently at and we also lowered your total monthly obligations. Yes, the mortgage payment has increased but we paid off majority of your debt to lower your monthly obligations and to put you in a better place financially. If you have any questions please feel free to contact Central Mortgage Funding, LLC and we can address any of your concerns or questions.

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