Complaint #1305518 submitted on 03/27/2015 relating to Kyanite Services, Inc.. Complaint relates to Mortgage FHA mortgage - Loan servicing, payments, escrow account .
Complaint was submitted via Web and sent to the company on Friday 27th March 2015.
The collection agency ( Seterus ), failed to advise me that my mortgage statement would be mailed to me late ( XX/XX/XXXX ). The mortgage payment is due XX/XX/XXXX. Late payment date is XX/XX/XXXX.
I called Seterus XX/XX/XXXX, to verify that they sent my mortgage statement to my address. According to the representive for Seterus ( XXXX XXXX ), Seterus discovered incorrect data on customers mortgage statements and that mailing would be delayed. I asked XXXX XXXX why Seterus did not advise it 's clients about this problem to avoid late fee 's and damage to credit scores. XXXX XXXX told me that Seterus is not responsible in advising clients of this issue. I than filed a complaint with Seterus on this issue and I asked to talk to a supervisor.
The supervisor I talk to was, XXXX XXXX for Seterus. According to XXXX XXXX, " Seterus is not required to send mortgage statements to it 's clients. If the client has an account set up, the client can access account on-line and find out what thier payment is. " According to the Dodd-Frank Act, XX/XX/XXXX ; The new rules are designed to protect consumers by : providing borrowers with better information about their mortgage loans providing borrowers with assistance if they are having difficulty making mortgage payments, and protecting borrowers from wrongful actions by mortgage servicers.
The new rules require mortgage services to : Send Periodic Billing Statements.
The mortgage servicer must provide a written monthly mortgage statement to the borrower.
-The statement must show : the amount currently due ( including how much will be applied to principal, interest, and escrow ).
-The total of all payments received since the last statement-How prior payments were applied-Transaction activity-Partial payment information-Fees or other charges to the account-Account information ( such as the outstanding balance and interest rate ) -Contact information for the servicer and housing counselors, andinformation regarding delinquencies ( if you 're behind on payments ).
| Company | Kyanite Services, Inc. |
| Complaint ID | 1305518 |
| Date Received | 03/27/2015 |
| Product | Mortgage FHA mortgage |
| Issue | Loan servicing, payments, escrow account |
| State/ZIP Code | AZ 850XX |
| Consumer Consent | Consent provided |
| Company Public Response | |
| Company Response To Customer | Closed with explanation |
| Submitted | Web 03/27/2015 |
| Result | Timely Response: Yes, Consumer Disputed: No |
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