Starting today, my mortgage has been transferred over to Caliber from Flagstar. So far I have had no issues with Flagstar ..wondering how Caliber is..anyone has any experience with them? So far I have not been enrolled online as Caliber mentioned my papers are still in process of being transferred.
aznshadoboy77 said: Did they transfer the servicing too? My mortgage was transferred / sold twice, and servicing didn't change - the change was relatively transparent to me. Just had an extra tax form to file.
Yes servicing was also transferred. Flagstar said all future loan payment arrangements will be cancelled as of today 7/1.
My mortgage was transferred from Flagstar to Caliber (formerly Vericrest Financial) effective 6/1.
One caution: My "goodbye" letter from Flagstar stated that Vericrest would use the AutoPay info on file with Flagstar to make the 6/1 payment and that I had to set up AutoPay with Vericrest to ensure that subsequent payments were made. Prior to 6/1, I set up AutoPay with Vericrest and confirmed that it would be effective with the 7/1 payment.
Vericrest/Caliber did not draft the 6/1 AutoPay. I was on vacation when it should have happened, so I didn't notice right away. I got a letter from Caliber that my June payment was late. Called them and was told that AutoPay info transferred to them only if I had submitted info to Flagstar via fax/mail. If I signed up for Flagstar's AutoPay online, the information was not transferred. They did initiate an ACH draft that day for the 6/1 payment and did not charge a late for or an ACH fee.
I was told the first 60 days after the file is transferred you will not be charged late fees per federal guidelines. They expect to have snafu's during the transfer. Suggest signing up with their Caliber on line account, so you can check the payments versus calling in. Also if you are making principal payments or any payments different from your normal payment, have Caliber pull the funds from your checking account as you can instruct C. how to apply the payment. . DO NOT send them a check or payment from your checking account and assume they will apply it correctly.
For those who's account got transferred. I finally got a bill in the mail and I created a account online to look at the details. Anyway in the paper bill and online, They do not have a section in there for paying extra on the principal. All they have is other payment.
It seems like caliber home loans does not want you to pay the bill off early.
Okay, I called Caliber Home loans and received an explanation. They are a servicing company until sometime in August, therefore they can't do the same things as banks, since they are not a bank until September or late August. The principal payments can be still made, but by a different method.
Check into the Caliber Home loan website. DO NOT CHECK INTO YOUR account!!! Now hit the following keys: Home:current customer:customer service, bill pay, then the blue print enrollment form, the 4th PARAGRAPH gives you instructions for principal reductions. If this is too hard, just wait until September and it will be a lot easier. But if you are clamoring to make a extra principal payment the above should take care of it.
Very convoluted, but I went through this with them on the phone.
For the first 60 days of the transfer, there will be no late fees. You should call Caliber on their toll free number and give them your current or "old" Flagstar account number and ask for the "new" Caliber number. I sent my first payment in by check to Caliber, certified mail with a letter. Stating my old Flagstar number and the new Caliber number, so there would be no confusion. I also asked for a receipt. The other receipt of course is the cashed check if you have the ability to review the cashed checks in your checking account.
Seems like Flagstar is slowly shrinking itself. I opening up a couple of Flagstar accounts online years ago for sign up bonuses and have used them since. They sold all of the branches in my state, but my account is still with them since it was opened online. Their rates have been good and I have received good auto insurance through their partners. I am wondering if it is time to start looking elsewhere. Since they don't offer a service to deposit via smart phone, we already opened an account with another bank for quick and easy deposit needs (like our FSA checks and other hard checks that we get).
Since they are based in Michigan and it seems that they are slowly withdrawing to Michigan... and things are going so well there economically, it may be time to jump ship... who knows. Any ideas or concerns from others in that regard?
Dus10 said: Since they are based in Michigan and it seems that they are slowly withdrawing to Michigan... and things are going so well there economically, it may be time to jump ship... who knows. Any ideas or concerns from others in that regard?
I did, a few months ago. There was a perfect storm of nonsense back in March/April: 1) They sold my mortgage (to Selene Finance); 2) They cut the interest on my Savings from .45% to .05% (a 90% reduction); and 3) disabled my ATM card for "lack of usage." When I complained on their FB page, they were unresponsive and ended up blocking me.
It's as if they were trying to lose my business. So, I obliged. I would encourage you to do so as well.
Working with Caliber Home Loans has been an absolute nightmare. I was purchasing a townhome from this lender. The agent assigned to me lied to me from the start. He was going to get me a lower interest rate than another home loan co. NOT SO. Actually it ended up being higher. The agent had no idea what he was doing. When I gave him all of my documents, I asked if there was going to be an issue with my income. He assured me there were no problems. Four days before closure, I was informed they needed more documentation and my income was an issue. My agent was fired 1 day before the closing. At that time, the company asked documentation that I had already provided. They also wanted me to give them $5000 more for the down payment. I was not willing to provide them with more documents nor more cash. I lost my $1000 earnest money because we couldn't close on the 27th. I paid $400 for a new appraisal. I gave the agent my debit card to pay for it. When I pulled up my bank account on August 23rd, they had debited another $50 my account without my permission. When I questioned my agent, he explained it was expedite my appraisal. If he had ordered it in a timely manner there would have been no need. I cancelled my account out of concern they would debit another bogus fee.
DO NOT enter into a contract with Caliber Home Loans.
Just received a email from Caliber. If you wish to make a principal only payment, since their normal payment coupons do not seem to allow this. Use the following address:
Caliber Home Loan, Inc. Attention: POP P.O. Box 272556 Oaklahoma City, OK 73137 You can confirm the above address by calling Caliber at 800-401-6587. Have your loan number ready to talk to them however.
Cabiler is terrible. I was transfered from Flagstar to Caliber also and sorry I was. Their web site is rinky dink, you can't do anything like you could as far as things like setting up addl princ payment amounts. No detailed payment break down info on line. I tried to get my statements on line after three months of payments and the page that was supposed to do this just kept returning the initial page. I called them cause I needed some detail for a meeting with a financial advisor and the could only fax a copy within 48 hours or mail one. What a joke. I own 6 properties now and many others over the years, have never seen such a terrible mortgage service web site. Clearly a bunch of bafoons running Caliber Home Loans. If you are just looking to get a loan, don't go to them. Too many red flags with this company. Flagstar btw is awsome.
Absolute nightmare...mortgage trf to Vericrest, then name changed to Caliber. We were in the process of attempting a short sale in Feb 13. Took a couple of months, then the change took place. Were assured by both Flagstar and Vericrest that all the info would be transferred to Vericrest. That didn't happen; ultimately SS wasn't approved and we decided to go the Loan Modification route; again told by Vericrest (now Caliber) that the info they had would pretty much be OK; just had to provided a couple of new forms. Ha...then the nightmare began. Form after form submitted to them by overnight mail, then emails with attachments. They don't return many calls, so if I didn't follow up at least weekly, had no idea what was happening. Finally, last week I was told by 'someone' that they had all the information they needed and the analyst/underwriter had all the information they needed. Just got back from a week out of town and in the mail is a letter saying loan modification was disapproved because we had failed to provide required information. WTF. Now I will call them tomorrow and attempte to find someone in their food chain higher than the one answering the phone to see what is going on. If I get the chance, I'm running away from this outfit as fast as I can. I truly don't know how they can stay in business. DON'T GO THERE FOR ANYTHING IF YOU CAN AVOID IT!!!
Caliberhomeloans are highly qualified parasites with C- rating at BBB and my personal experience with them confirms this fact. Totally Careless, impudent to impossible extent behind the mask of politeness they will keep overcharging you, take interest from principal extra-payments you make etc. You have to control them closely and double-check every single transaction. They cannot be trusted. Calls do not work with them. They will tell you what you want to hear over the phone and do nothing and then pretend they've never heard about the issue. After several emails and after you begin threaten them they will eventually correct the balance and next month everything starts again. These are the type of idiots for whom to die is and easy escape. Neither prison nor killing is sufficient punishment for the people with their attitude. Unfortunately this the only way the clean the society from these parasites. T. Lashkov
My mortgage servicing rights were sold by Chase to Vericrest, now Caliper. What a Nightmare. I was behind two payments on my mortgage at the time Chase sold the rights to the mortgage. Vericrest accepted my first payment. When I attempted to make my next payment the next month, they refused to take the payment and threatened me with foreclosure if I did not bring the mortgage current, in full at that moment. They terrorize me by telephone and are attempting to steal my home. I am in Connecticut, they are in Oklahoma and have no local office and won't accept my payments. I have too much equity in my home. This is the problem. They want to steal every penny I have worked for that I have tied up in my home. This company is run by former slimy Countrywide executives. Beware. Runway. Protect yourself. Their employees are ignorant and paid bonuses to steal from you. I feel stranded.
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