Complaint / review text:
Today i will be filing a complaint against midland mortgage with the new federal consumer banking agency. Like many others' complaints i've seen on this website and rip-off, i was a victim of citimortgage selling my mortgage to midland mortgage. First, when i received notice from both citi and midland, there was nothing on the envelop stating "important information about your mortgage" or "do not destroy -important information". The notices of the change of servicers came in what looked like junk mail.in fact when i opened the midland material because it came before the citi material, i immediately went to the internet to begin my research. And i did not like what i read. Pissed off consumer was 4th entry on the web so i read it first!!!
Anyone that has been down this road must do the following:
1. Be sure to send the declaration page of your homeowners' insurance so midland cannot stick you into a higher insurance pool. Also if you escrow for taxes and insurance, send your last escrow statement from citi to midland so midland will know your homeowners' insurance is paid.
2. When your payment stub arrives, write a letter to your attorney general, hud, office of the comptroller of currency, and better business bureau and midland's president ken clark. Send this letter registered to the grand avenue, okc address. (you can get the exact addresses off the internet)
3.in your letter complain about how little information about your mortgage payment is contained on midland's stub compared to citi. You should be able to see principal and interest, taxes, insurance and how each payment is applied every month.
4. Complain about how difficult midland mortgage's phone system is to navigate. The constant rambling information from one option to the next make it impossible to talk to a live human being. For working people this is a nightmare. For people suffering financial hardship it drives you to drink!
5. Let it be known there are only 50 customer service people to serve thousands of loans. Even if 1% of loans are troubled this is sorely insufficient staffing.
6. Write about the lack of authority midland staff has to make an important decision in resolving your issue.
7. Explain the repeated fees, inaccuracies in calculation of your loan, and how payments are misapplied.in my case, not only was the amount per month was calculated inaccurately but so was my escrow account. Therefore do the math. If you bank elsewhere for your household accounts take your escrow and monthly statement to your other banker for assistance.
8. If you refinance as i am, refuse to pay the fees for moving your loan for refinancing.
9. Also complain about midland mortgage customer service staff told my refinancer midland could not give them payoff info without my authority. This is not the standard of practice in the banking business nor is charging a fee to release this information.
10. Finally, file a complaint with www.consumerfinance. Gov. I promise together we will bring forces to bear on midland and possibly even may bring them under the microscope of the federal government.
Everyone out there no matter your circumstances must be heard. Military and va people especially make the consumerfinance. Gov. Aware of your status. If you are senior citizens make your status known. If you've lost your job or in ill health, make that known. One person cannot effect change but many voices demand change. Good luck