Refinancing to Eliminate Seterus (PMI, loan, interest rate, approval)

[classy8655]

[b][/BI am in the process of refinancing and finally ridding this horrible alleged servicer provider, Seterus hopefully out of my life however they are trying diligently to prevent me to,
claiming i have missed payments. I have records clearly showing electronic online payments automatically for 9 years and have never missed a single one. They keep changing the months when speaking with a seturus rep. The new mortgage company only goes by what they tell them even with documentation clearly exhibiting monthly on time payments. the entire system is a joke.]
Has anyone ever had a similar experience?

[SmartMoney]

Originally Posted by classy8655

[b][/BI am in the process of refinancing and finally ridding this horrible alleged servicer provider, Seterus hopefully out of my life however they are trying diligently to prevent me to,
claiming i have missed payments. I have records clearly showing electronic online payments automatically for 9 years and have never missed a single one. They keep changing the months when speaking with a seturus rep. The new mortgage company only goes by what they tell them even with documentation clearly exhibiting monthly on time payments. the entire system is a joke.]
Has anyone ever had a similar experience?

They are well known for being difficult. Little trick they are known for, instead of providing payoffs like most of the world, they require a wet signature on payoff requests. Make certain you know what they need to provide a payoff. They would never tell the title company their request for payoff was not acceptable. They would wait until a call came in. Then, besides wet signature, the would only accept payoff request via USPS (wet signature).

I cringe when they are the lender being paid off.

[Modification Specialist]

Originally Posted by classy8655

[b][/BI am in the process of refinancing and finally ridding this horrible alleged servicer provider, Seterus hopefully out of my life however they are trying diligently to prevent me to,
claiming i have missed payments. I have records clearly showing electronic online payments automatically for 9 years and have never missed a single one. They keep changing the months when speaking with a seturus rep. The new mortgage company only goes by what they tell them even with documentation clearly exhibiting monthly on time payments. the entire system is a joke.]
Has anyone ever had a similar experience?

No Pun - ever do a mortgage modification or go late? Have seen many times after late payments mortgage servicing switches over to Seterus. Larger banks do this regularly to attract larger investors, removing default loans of their books by changing the servicing.

Refinancing now? What is your new lender mentioning about late payments? They have your credit report. Depending if you had any lateness's and when, late payments can tabulate higher interest rates.

What you can do is request a loan history from Seterus to compare their records with yours. Once you identify any mistakes, can then prove your case with your bank records.

Another $00.02 - your should review your credit report for free at annualcreditreport.com You wont see your score, but you can see if there is anything that is derogatory which can be disputed.

Good Luck..

.

[SmartMoney]

I think what is going on with the OP is the credit report and his documented proof do not agree, creating an impossible situation for a loan approval for their refinance. The new lender cannot get a DU and Seterus will not correct their records. Forget Seterus is in violation of the FCRA, filing a complaint doesn't get you refinanced.

What is your loan to value? Can you refi without PMI? Did you go with a portfolio lender for your refinance? If you need PMI (don't have 20% equity), you are fighting a tough battle. But if you do have the equity to avoid PMI, do seek out a portfolio lender, someone that will accept your proof of payment in lieu of favoring the credit report.

Mod Specialist is concerned there's an underlying reason for the late payments - a prior, old past due payment, never caught up, creating rolling lates, possibly with a lender before Seterus. How long has your mortgage been with Seterus? Check with how the dates line up.

In any event, file a complaint with CFPB. Be sure to mention the falsely reported latest have cost you irreparable financial loss, making it impossible for a refinance (even while pursuing the refi and close on a refi if you get it through). Why mention damages? CFPB has collected so much money in fines, it's being paid out to consumers. (I just received a $58 check from Citibank as part of a credit card settlement I had no knowledge of).

https://www.consumerfinance.gov/complaint/

[Modification Specialist]

Smart Money... Well Said..