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Cenlar Federal Savings Bank Mortgage

1.0 out of 5 stars
10 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

1 out of 5 stars

Customer Service

1 out of 5 stars

1 5
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These reviews were written by current and former borrowers in the last year.

Oct 27, 2016
Worst company I have ever worked with
Anonymous Borrower

This company is HORRIBLE.  In order to answer my questions about mortgage insurance, I have to send an email.. when I did that, it came back saying they would begin to look at the email in 3-5 business days, and will respond in 30 days by REGULAR Mail. What???  Worst customer service I have ever used and I wish I had another option other than refinancing so I didn't have to work with these goons ever again. 

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Aug 31, 2016
Legitimate company, but a total scam.
Anonymous Borrower

Worst customer service. Horrible bank to deal with. My loan was biught without mu knowledge or consent. Cenlar has completely different proceedures than any other bank I have ever delt with. Even my insurance company said that Cenlar is horrible. They even send payments back to you and then try to charge you a late fee for non payment. BEWARE!!! 

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Aug 22, 2016
Anonymous Borrower

I refied just to get away from CENLAR, they are terrible!

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Jun 28, 2016
are they legitimate?
Anonymous Borrower

It's been just over a month since I purchased a new house. The loan was transferred in the first week or so to one company and now, in the last few days, I have a collection agency calling for Cenlar. I called my mortgage company and, at first, they were unaware of Cenlar's existence. Now, yesterday afternoon I have a letter from them stating that I owe them 2 months in mortgage right with a letter that says they won't own my mortgage until next month. Are they legitimate, becasue this totally reeks of a scam?

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Jun 09, 2016
Anonymous Borrower

Horrible ! Cenlar should be banned from loan servicing !

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May 27, 2016
Buyer Beware!!

The list's of other peoples poor one star reviews here and on multiple websites including Consumer Affairs and BBB should have screamed the volumes of truth about this company, its people and their lack of operating with ethics and integrity.  If had only known they were going to sell my home loan to these hoodlums and been presented another loan processing option I would have taken it in a heartbeat.  

There has been an unabashed lack of business integrity and ethics along with a steady stream of dishonesty even with their supervisory level verbal commitments.  This behavior only begins to describe this company, its employee's and its officers belief that everyone else is going to be dishonest and try to take advantage of them, so lets treat them as if this is going to happen to us at any moment.  It's no wonder they treat you, the customer with such fear and disrespect.  Further, please don't show pity for their employees because by their mere continuing to be employed at Cenlar means they have swallowed the big pill of accepting and knowing they have silently but actively endorsed supporting their masters lack of ethical business behavior. 

Both myself and my bank have contacted Cenlar on multiple occasions to locate and return one "electronic" payment (not a check) which was sent to Cenlar after the loan had already been paid off and escrow funds were still in my account. Supervisor after supervisor in the investigative/expediting unit made promises to return funds after receiving the required confirmation of funds transfer, but they too moved their lips in agreement to get it sent back to me.  Their words all turned out to be fabrications as well. They responded they'd have their investigative unit get into the matter and respond in 3 days. This is the same story I heard at least 5 times.

Avoid this company.  The expression "if their lips are moving, they're lying" fully describes who they are and how they operate their business.  So, it's not if they will be dishonest its only a question of when and how they will treat you with disrespect and dishonor.  It's clear to me they are loyal to the wrong business principal, remain loyal first and foremost to their highest value proposition, greed and self-serving reward rather than serving the customer.  

Buyer beware!

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Mar 20, 2016
Mortgage Buyer
Anonymous Borrower

Cenlar is another one of these debt collection agencies. When my hometown bank faced federal charges for bad mortgage practices, they sold all their mortgages. Mine went to Cenlar. The statute of limitation for credit reporting in my state is 15 years, and I'm going to wait it out. These crooks aren't getting a cent. They can't even prove that they have a copy of my mortgage agreement on file, and now I am getting foreclosure notices? They'll lose if they take me to court and they know it. Thats why instead of doing the leg work to contact me, they call and harass my elderly parents - who are smart enough to not give up my information. These bafoons actually have my parents address as my last known address. I've had three houses since then. When I got my mortgage it was $150k, and now they say its paid down to $91k... It looks like my tennants have been making their payments on time, or the amount would not have changed much.

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Mar 20, 2016
Mortgage Buyer
Anonymous Borrower

Cenlar is another one of these debt collection agencies. When my hometown bank faced federal charges for bad mortgage practices, they sold all their mortgages. Mine went to Cenlar. The statute of limitation for credit reporting in my state is 15 years, and I'm going to wait it out. These crooks aren't getting a cent. They can't even prove that they have a copy of my mortgage agreement on file, and now I am getting foreclosure notices? They'll lose if they take me to court and they know it. Thats why instead of doing the leg work to contact me, they call and harass my elderly parents - who are smart enough to not give up my information. These bafoons actually have my parents address as my last known address. I've had three houses since then. When I got my mortgage it was $150k, and now they say its paid down to $91k... It looks like my tennants have been making their payments on time, or the amount would not have changed much.

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Feb 18, 2016
Loan was purchased without my knowledge.
Anonymous Borrower

Customer service is terrible. There is no one in charge.Anyone could answer the phone. They operate from a P.O. Box.Fax or Bank transfers which always cost the customer money...If you have an F.H.A. Mortgage you will pay the penalty for paying it off at the 1st of the month even if you are paying it off on the 2nd of this mont, you will have to pay oof for next 1st of month.

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Feb 09, 2016
Anonymous Borrower

i worst company ever.. cenlar bought out my mortgage company back in oct. i was informed by cenlar not to make my first payment until i received my first statement from them. when i finally got my bill in the mail the statement said it was already past due. when i called cenlar they kept me on hold 45 mins only to tell me it was nothing they could do to help me because they dont have any record of me talking to anyone there. JUST BOGUS!!! and on top of that cenlar reported on my credit delinquent. i am in the process of disputing the charges. PLEASE DONT WASTE YOUR TIME WITH CENLAR THEY WILL ME

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