Applied for it as a refi, did lower monthly payment, BUT after the processing of the loan was over their responsiveness nose-dived considerably and their online account access in non-existent. I had no idea that you could NOT view your account with them online. They do have a website, but Carfinance merged with Flagship credit who is now servicing their loans, when you go the website to make a payment as a Carfinance customer there is NO CUSTOMER ACCOUNT PORTAL! They give you a link to click on to make payments and your options are an online payment via Western Union quickpay, Moneygram, or you mail in a payment from your back or manually write a check, THAT'S IT! You do get a bill every month but it is NOT an itemized statement. It does NOT show you how much of your payment went to principal and how much went to interest or what your current cumulative balance due is. Good luck trying to get an itemized statement by calling customer service, just NOT going to happen. I highly recommend to NOT finance with this company whatsoever. RUN from them!
We had a very bad mortgage and the servicing rights were sold to Round Point from Flagstar Bank. We went to court with Flagstar, Queens Park Oval Assets and Round Point in Houston, Texas for Statutory Mortgage Fraud and Wrongful foreclosure and won the case. Round Point, Flagstar and Queens Park refuse to accept the judgement of the court which deemed the Deed of Trust, Mortgage and Promissory Note wer not enforceable and awarded the property to us. The case was settled in April on 2014 and is now turned over to the Department of Justice. Round Point is not a good company to do business with.
PennyMac is about to foreclose on my home. I tried getting a lower payment, couldn't. Ultimately I had to choose, medical care or home. I chose medical care. Now I am getting well but faced with "how to find a home, rent or otherwise, with bad credit and pets. PennyMac did try to help me. The laws and investers controll a lot of the actions of all lenders. Just because they cant help you in your time of need, does not mean they did not care. They listen, searched for options, and worked hard on my behalf. For that I give them a 4. I took 1 star away because they made an error on my streamline refinance that caused my house payment to increase by $900 a month and left me without options. Their error, I paid the price.
I started off with a low credit score and the loan officer took the time to not only explain my credit but became my mortgage credit coach. She walked me through the steps and the process. It took about a year to get my credit to where I could get a loan. Talk about commitment. Now in new home and I'm my own landlord. Thank you new American funding!