Business ProfileforSierra Pacific Mortgage

I would not ever recommend doing business with Sierra Pacific Mortgage. The person I was working with during the purchasing process continually checked in with me to tell me the amount due on the day of closing and making sure I had that amount. On the day of closing, the amount went up by $50.00 first. Not a big deal. Then, the price went up several hundred dollars. Then, the price went up $4,600.00. This was all within one hour after months of telling me the closing amount. There is no way a person such as myself can check their figures. There is no way to know how much the transfer fees are; The recording fees; The title transfer fees. You cannot check to see if the extra money they charge you on the day of closing is legitimate. Fast forward three years.......I have been attempting to drop the *** on my home for several months. I have received letters from many other mortgage companies stating that I need to drop the *** because it is no longer needed on my home. Sierra Pacific Mortgage even sent me a letter saying that due to the appreciation of my home, I need to have more insurance coverage. I continue to be told by Sierra Pacific Mortgage that I cannot drop the ***. Today was the frosting on the cake.......I received a letter from Sierra Pacific Mortgage saying that I need to send them money so that they can personally appraise my home because it might have depreciated in value during the past three years. We have just come out of a Pandemic. We, as a nation, are experiencing the greatest home appreciation ever. Sierra Pacific Mortgage Company is apparently unaware of this?? I have recently had a market analysis done on my home. It appraises for $230,000.00 more than the purchase price. I honestly think they are aware of this. Sierra Pacific Mortgage is not an honest company. They will take advantage of you. They will not return calls or emails. They will send form letters again and again. They are impossible to work with.

Hello - There are legal requirements to remove the *** from a loan. the standard practice is a new appraisal to be requested. A letter of explanation was sent to the client by the servicer of the loan on March 23, 2022 advising the client of a new appraisal to establish the current property value and loan-to-value . There was a change of loan servicer from DMI to PHH in 2021. Notifications were sent then, we apologize for the inconvenience.