In December, I made three payments: one for December, one for January, and one for February, all on different days. However, the payment for February was returned due to insufficient funds, and they withdrew the amount again, taking $95.00 and applying the rest of my February payment to principal and escrow. Upon contacting them, I was instructed to pay the $95 NSF fee, and they assured me that the full February mortgage payment would be applied afterward. They mentioned it would take 24 hours and that a note was made to reflect my request. After 48 hours, I followed up, but nothing had changed. They had instead applied the $95 to principal. The new representative informed me that a request needed to be sent to apply it to NSF, which would take another 24 hours. This whole situation began on January 7, and as I write this on January 21, two weeks have passed with no resolution. This is unacceptable, and I shouldn't have to monitor these companies. They need to fulfill reasonable customer requests promptly. Consider a company that values its customer relationships more.
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Newrez is a leading mortgage lender and servicer dedicated to providing a customer-first experience and helping homeowners throughout their homeownership journey. Newrez offers industry-leading servicing capabilities for owned MSRs and for third-party clients, as well as a robust origination model with presence in the retail, wholesale, correspondent, and consumer direct verticals. Newrez’s mission is to champion homeownership – the company helps clients achieve their homeownership goals through a wide array of products and services. Newrez was established in 2008 and is headquartered in Fort Washington, PA. NMLS #3013.See more
