Caliber Home Loans - I believe the site is designed to create late payments and force buyers to stay at usurious rates.
I have had MANY mortgages, maybe 20, besides with Caliber. I never had a late payment ever except, when I didn't just plain didn't have the money.
I have never had an account that was as difficult as this to make payments successfully, because of the site itself. While every month is a struggle (at 7.1%), I have managed to have the money in my possession by the last day of the month every month. Yet when I go to pay, there is always something wrong with the site. And guess what, 30 days does not really mean 30 days.
It means the last day of the month regardless of the number of days. There is nothing in the contract to tell you that. There is no law that says that is the way 30 days (late) is to be interpretted. Between the 28 day month of February, the site being down on critical days, not being to even GET a log in page, I have made 3 out of my last 13 payments in such a way that it was ultimately posted late (On the first day of the following month it was due.
They used to send an email to confirm that you had set up a payment. They stopped doing that, and now when my last payment didn't ever go through, I had no way of knowing why not, and I was not aware until the beginning of the following month when the money remained in my checking account. I now have a new 30 day late. I believe the number of days it takes them to process an online payment, the amount that the site is down (or fails to authorize payment) is by design to keep an owner failing, and from being able to refinance.
Each time they give me a late, it guarantees them another $12,000 of additional interest above the rate which I would qualify for with a different lender with the only variable being if I had no lates. One of their employees admitted that the site could not handle the large volume of traffic it receives on the more busy days of the month. Note that the last business days in Oct to make an on time payment for the 15th and/or the 30th, the site is down. There is a record of me being online in the site, adding a new checking account to the site with which to make the payment.
I pressed all the correct "Next" icons. but I did not notice I never received a confirmation.
It can not be legal to have a site that is designed to assist you in failure when there are such massive ramifications. I can not believe that this is just poor web design.
Product or Service Mentioned: Caliber Home Loans Mortgage.
Reason of review: poor website design, perhaps intentionally and capabilites. .
Monetary Loss: $18000.
Preferred solution: lates removed. .
I liked: Stay away from this company.
I didn't like: Money is more important than people, No way to contact a supervisor or manager directly, Lack of follow through, Rudeness of most cs people, Turn around time on document recovery.