James Darnell

Review of myCUmortgage

Please READ, READ READ! First of all, to be fair, ...

Please READ, READ READ! First of all, to be fair, for the first 7 years of our mortgage{2013-2020} "myCUmortgage" deserves a 5 star rating, but then the true nature of their business shined through! In June 2020, we reached out to "myCUmortgage" to potentially take advantage of the Forbearance Program under the Government written "CARES ACT" in relation to COVID-19. We asked what was entailed and if there were any surprises upon post Forbrearance. "No", we were told, "no surprises and no balloon payments", etc!. We were also told that there will be no fees nor penalties and that the suspended payments will go to the back of the loan, ok. Even Marc Moreland{early stage default manager} in an e-mail told me that the suspended payments would go to the back of the loan, ok. We were assured that the pre-COVID monthly mortgage payment would resume upon post-Forbearance and that the suspended payments will go to the back of the loan, ok. Hey "myCUmortgage", we understood that the back of the loan meant extending it out, plain and simple! But.... after subsequent paperwork was sent to us that contradicted what was told to us via phone call, we called again for further clarification. We kept being told to ignore the paperwork and that we were covered under the Covid-19 forbearance plan, ok. By this time we are into September and this specific trained agent said that in order to put the suspended payments to the back of the loan, that a loan modification had to be done! Hmmmm! That also explains why the payment feature on our profile was disabled! I had reminded this "myCUmortgage" agent again that no one had mentioned anything about a loan/mod from the begining and there was every opportunity to fully disclose that to us. I had mentioned that Wells Fargo and B of A are being summoned to Congress for the plethora of complaints in regards to those antics that "myCUmortgage" are also using. My personal bank who was the "loan originator" was alerted and they too were alarmed. Also, I reminded the "myCUmortgage" agent that all phone calls to "myCUmortgage" have been recorded from the beginning and that I will be filing a case with the FTC. Phone line magically dropped and less than a week later in September we received documentation in the mail of an automatic approval for another 3 months of suspended payments{Oct-Dec} which we did not authorize btw! If there is no response by myCU to this post then that shows guilt. If myCU spins this information then I'm curious how. My advice: You may trust a debt collector until you don't so beware and be careful!