Cenlar Federal Savings Bank Mortgage Reviews

1.1 out of 5 stars
11 Reviews

From Borrowers in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

1.5 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.

May 08, 2017
One big headache.
Anonymous Borrower

I have never dealt with a company that has such terrible customer service. Every call to customer service resulted in long wait times on hold, "while they notate your account" 20-40 minutes later they get back to you but the result is you calling back 6 times at least to get the issue resolved. Often, I had to call the original mortgage lender to have his customer service reach out to a supervisor at cenlar and even then, the issue wouldnt be resolved until we called multiple times. Basic things that as account number changes or updated home insurance information that had to be linked to the escrow account.

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Feb 21, 2017
Good until I got locked out
Anonymous Borrower

Cenlar uses Loan Administration to allow its customer to use an online system.  The system is at its best outdated.   Long story short, it took them 2 weeks to give me online access to MY account after multiple emails requesting the account be unlocked since there were no number to call.  They unlocked the account but there were random security password that I have never set up to gain access.  After I exhausted all of my options, I called Cenlar and were given a runaround that they'll unlock it which the same thing happened.  After like 10 emails and two weeks later I was given access to my account.  

I don't mind them as a lender since I do automatic bank draft and everything seems to be fine.  

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Jan 23, 2017
Can they please be put out of business?
furious2017 Borrower

One start is way too generous! A month after closing on my mortgage with one lender, it was sold to Cenlar.  Even after multiple secure messages, faxes, phone calls, my property taxes have still not been paid.  I am about to go into arrears with my county tax office.  My account was set up with a bogus "Texas Dummy Payee" with some inflated tax amount which my payment is being based off of...it's not accurate and per my loan info online the next tax installment is due in the year 2025...wrong again.  Since they didn't pay my property taxes in the year of which they accrued in my escrow account, this has negatively affected my 2016 Federal Tax Return.  I have filed formal complaints with the Better Business Bureau, the Texas Dept of Savings and Mortgage Lenders, as well as contacted the lender who initially serviced my loan before selling it to Cenlar.  There is WAY too much money in my escrow even once they finally pay my taxes and homeowner's insurance.  I have had 4 houses and 4 mortgages with different banks and Cenlar is by far THE worst company ever.  They need to be put out of business for unethical business practices. 

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Dec 16, 2016
WORST Mortgage company EVER!!!
Anonymous Borrower

*WISH I COUDL GIVE NO STARS!* They have made the same mistake on my account THREE months in a row! and when I called a week ago they said they would return the double posting of my mortgage. I called today because they ACH never came through and they informed me that sent the check just yesterday (a week after I called) and there was nothing they could do to speed up the process. Even though I suggested an expidited check they said to cut a check it would take 4 days. That is ridiculous! This close to Christmas and I am waiting for nearly 1400 to go back into my account because they refuse to work with me on THEIR mistake! AWFUL company and I am looking into refinancing as I write! 

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Dec 12, 2016
Contractors BEWARE
Anonymous Borrower

After a hail storm in the Dallas area I was chosen to do the work on a $900,000 property.  Cenlar lied multiple times to the homeowner saying the first check would be sent for the work.  With that assurance I did $60,000.00 worth of work on the property.  5 times they told the homeowner that a check was being mailed and 5 times came up with a new excuse not to send funds.  The work is now 98% complete and I have not received one penny from these worthless crooks.  If you have them for a mortgage co good luck getting insurance work done on the property.  Don't call me!

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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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