ComplaintsforVillage Capital & Investment, LLC
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Complaint Details
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Initial Complaint
11/12/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Resolved
I keep getting emails from this company regarding a payoff request. I am not doing business with this company and don't know if these emails or a scam. I'd like for them to look into this and stop emails to myself and my staff.Business response
11/21/2024
Dear ***** **********,
We acknowledge receipt of your correspondence submitted to the Better Business Bureau, dated November 12, 2024. You have raised concerns regarding email communications allegedly sent by Village Capital & Investment LLC to **********************************
After a thorough review, we were unable to locate any records associated with ********************************* in our database. Furthermore, we have no record of any prior contact with you before receiving this complaint.
To assist in resolving this matter, we kindly ask that you forward the emails in question to our ************************** at ************************************************************** This will help us better understand the source of the information and take any appropriate steps based on our findings.
If these emails originated from a third-party organization, we recommend reaching out to them directly to request removal from their mailing lists.
Should you have additional questions or require further assistance, please feel free to contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST, or via email at **************************************************************
Sincerely,
Corporate OfficeCustomer response
11/21/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
***** **********Initial Complaint
11/06/2024
- Complaint Type:
- Billing Issues
- Status:
- Resolved
On October 4th, 2024 i refinanced my home loan from account # ********** to account number ********** with *********************************************. I had made a payment on the first account on 1 October 2024 in the amount of ******* as scheduled per the loan terms. Upon signing of the documents on the 4th I noticed the original loan payoff did not reflect the new payment made, and called ***** ******* my loan officer with Villiage Capital to inquire whether documents needed to be adjusted or if a refund would occur. He advised that a refund would occur once the account was settled. It is now November 6th and I have attempted to contact the loan officer, and Village Capital to resolve the discrepancy. I have been unable to reach ***** *******, and was advised by customer support to reach out to him because "there are no notes indicating the refund"Business response
11/12/2024
Dear ***** *****:
We are in receipt of your correspondence addressed to the Better Business Bureau, dated 11/06/2024. You stated that Village Capital & Investment LLC has not issued a refund from the refinance. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:
As part of our standard procedure for all VA and FHA loans, Village Capital & Investments LLC holds any remaining funds in the designated escrow account for 20 business days after receiving the payoff amount. This is located in the ************************************ Rules & Policy Subpart C ******* subsection (b). This period allows us to ensure that all potential insurance and tax bills are fully settled. Once we have verified that all obligations have been cleared, the remaining funds are then released and mailed to the borrower via check.
After reviewing the original loan ending in #****, we noted that the funds from the escrow account were pulled on October 28, 2024, and subsequently issued a check for $3,916.61 on November 4, 2024, which follows the 20 business day allowance. This total includes both the remaining balance in your escrow account and your October payment of $2,348.24.
We appreciate your patience and understanding in this matter. If you have any further concerns or questions do not hesitate to contact us.
We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or email us at ***********************************************************************************************************.Sincerely,
Corporate OfficeCustomer response
11/12/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
***** *****Initial Complaint
11/04/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I have been calling for over a month about my escrow check after paying off my loan. I was told several lies about the check. First was it was sent to another company. Then it was it was mailed out on Oct 22 then I was given multiple different dates. I requested after all the lies that the check be cancelled and sent to us overnight. That was refused. I called back 3 times today Nov 3 about my escrow check I discovered online the check was done on 9 /24/2024 and had not received it. Today I asked for a supervisor and was refused. They finally got me a supervisor on the third call and I requested the check be cancelled and overnighted once again they agreed to investigate the check but it would take ***** days to get to me. I said no I want the check overnighted and was told no you can not get it overnight.Business response
11/06/2024
Dear ****** & ****** ******:
We are in receipt of your correspondence addressed to the Better Business Bureau, dated 11/04/2024. You stated that Village Capital & Investment LLC has misinformed you of the status and location of the escrow refund check. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:
As part of our standard process, refund checks are issued within 20 business days after a loan is paid in full, then handed over to the mail courier, which typically takes 7-10 business days for delivery, though timing can vary.
Your loan was paid in full on September 9, 2024, and the refund check was issued on September 24, 2024, to the address at ************************************************************. On November 1, 2024, we were informed by you that the check had not arrived within the expected timeframe. When we followed up with you on November 5, 2024, we learned that although the check had been delivered, it had already been voided due to the delay.
To resolve this, we reissued the refund and sent it via ***** overnight priority on November 5, 2024. Please allow up to 48 hours for delivery.
We understand the frustration this delay may have caused and apologize for any inconvenience.
We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or email us at ***********************************************************************************************************.
Sincerely,
Corporate OfficeInitial Complaint
10/30/2024
- Complaint Type:
- Billing Issues
- Status:
- Resolved
I was having financial issues so I asked to pay half the payment for my mortgage now the company will not accept anything other than the full payment I have tried working with them for three months and all I get told is they will not accept anything but the full payment and are reporting to the Credit companies that I am almost 90 days behindBusiness response
11/04/2024
Dear ******* R ******,
We are in receipt of your correspondence addressed to the Better Business Bureau, dated October 31, 2024. You stated that Village Capital & Investment LLC has failed to work with you to bring your account current, and reported you to the credit agencies. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:
Thank you for bringing this issue to our attention. We understand how challenging financial difficulties can be, and were committed to assisting you the best we can.
On October 31, 2024, we reached out to see if you had contacted our *************************** After reviewing your account, we noticed that you have not yet applied for loss mitigation assistance. We have mailed the application for your convenience. Please complete it and return it using one of the following methods:
Email: ****************************************************************************************************
Fax: ************
Mail: *****************************************************************
Please note that credit reporting occurs on the first calendar day of each month. Therefore, any payments made after this date will be reflected in the balance for the following reporting period.
If you have a credit dispute, please reach out to ********************************************************* and they will respond to you via email after reviewing your account.
We value accurate credit reporting and are here to help address any concerns you may have. If you have any further questions, please dont hesitate to reach out.
We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or email us at ***********************************************************************************************************.
Sincerely,
Corporate OfficeCustomer response
11/04/2024
Complaint: 22494122
I am rejecting this response because:
I have never received anything from this company except to tell me that they are going add more late fees. When I call and try and make a payment on the backed pay I am always told they can not accept any but the full payment however if they would email me the information I will look into that
Sincerely,
******* ******Business response
11/06/2024
Dear ******* R ******,
We are in receipt of your correspondence addressed to the Better Business Bureau, dated November 4, 2024. You stated that Village Capital & Investment LLC has notified you that we are unable to accept a partial payment. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:
We apologize for any confusion caused by the information previously provided. Our goal is to ensure all borrowers fully understand our payment process.
Enclosed please find copies of your signed Deed and Closing Disclosure, which clarify that we do not accept partial payments.
All Village Capital & Investment LLC loans are due on the 1st of every month. This due date cannot be changed under any circumstance. We do offer a 15-Day ***** ******* The 16th of every month at 7:00pm PST is our deadline. Any payment received after the 16th at 7:00pm PST will incur a late charge.
Your payment history shows that most payments were received after the 16th of each month. To avoid late charges, we recommend making your payments before the ***** period expires.
To ensure you have the most convenient payment experience, here are several payment options available to you:
1. Over the phone with a $10.00 PBP (Paid By Phone) fee.
2. Automatic Monthly Withdrawals (ACH).
3. Manual 1-Time payment online through *** at **************************************************.
4. Auto Bill *** through their Bank or *************
5. Standard Mail-In payment.
We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or email us at ***********************************************************************************************************.
Sincerely,
Corporate OfficeCustomer response
11/06/2024
Better Business Bureau:
I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
Sincerely,
******* ******Initial Complaint
10/30/2024
- Complaint Type:
- Service or Repair Issues
- Status:
- Answered
I closed a loan through this company and never received my money, they promised today and it never happened, I want the money promisedBusiness response
11/08/2024
Dear **** ******.
We are in receipt of your correspondence addressed to the Better Business Bureau, dated October 30, 2024. You alleged that Village Capital & Investment LLC failed to provide you with the funds from the refinancing of your home. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:
We appreciate you bringing this to our attention. After investigating, we found that the wire was sent on October 30, 2024. Additionally, Lakeview Lending, the broker, received confirmation from Client First that the funds have been disbursed to you.
We apologize for the delay in processing your funds and appreciate your patience and understanding.
We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or email us at ***********************************************************************************************************.
Sincerely,
Corporate OfficeInitial Complaint
10/30/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
Subject: Unauthorized Account on My Credit Report Identity Theft Victim Complaint Details:I found an unauthorized entry from Village Capital & Investment on my credit report. As a victim of identity theft, I did not open this account.Opened: 10/30/2021, Account Number: ************* I request that this fraudulent entry be removed from my credit report.Business response
11/01/2024
Dear ********** *******:
We are in receipt of your correspondence addressed to the Better Business Bureau, dated
10/30/2024. You stated that you are writing to dispute an account on your credit report that
does not belong to you. In addition, you believe that the account in question was
fraudulently opened without your consent, with the Creditor being Village Capital &
Investment LLC. In regards to the complaint escalation, Village Capital & Investment LLC has
determined the following:
Village Capital & Investment LLC (Village Capital) is not the original lender under the
Note dated October 30, 2021 in the amount of $483,300.00. The loan was secured by a Deed
of Trust recorded on or about December 6, 2021.
Your loan was transferred from **************************** to Village Capital on
November 18, 2021, and then again transferred from Village Capital to Planet Home
*********** on July 5, 2023.Enclosed, you will find a copy of the Note, Deed of Trust, Closing Disclosure, Loan History
of payments from when Village Capital serviced your loan, and both Service Transfer
Letters.We believe that this response fully addresses the concerns outlined in your Better Business
Bureau correspondence. If you have any questions concerning this response or require additional
assistance, please contact our *************************** at **************, Monday through
Friday, from 5:00 a.m. to 7:00 p.m. PST or email us at ***********************************************************************************************************.
Sincerely,
Corporate OfficeInitial Complaint
10/30/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
I am writing to dispute an account on my credit report that does not belong to me. I am a victim of identity theft and have filed a report with the ************************ through *****************. The account in question was fraudulently opened without my consent.Details of the account to be removed:Creditor Name: Village ***************************** Opened Date: 10/30/2021 Account Number: ************* Balance: $483,300.00 Please investigate this account, remove it from my credit report, and correct my records.Business response
10/31/2024
Dear ****** ******* Jr:
We are in receipt of your correspondence addressed to the Better Business Bureau, dated 10/30/2024. You stated that you are writing to dispute an account on your credit report that does not belong to you. In addition, you believe that the account in question was fraudulently opened without your consent, with the Creditor being Village Capital & Investment LLC. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:
Village Capital & Investment LLC (Village Capital) is not the original lender under the Note dated October 30, 2021 in the amount of $483,300.00. The loan was secured by a Deed of Trust recorded on or about December 6, 2021.
Your loan was transferred from **************************** to Village Capital on November 18, 2021, and then again transferred from Village Capital to *********************** on July 5, 2023.
Enclosed, you will find a copy of the Note, Deed of Trust, Closing Discourse, Loan History of payments from when Village Capital serviced your loan, and both Service Transfer Letters.
We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or email us at ***********************************************************************************************************.Sincerely,
Corporate OfficeInitial Complaint
10/29/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
Money was taken out of my account for recent payment. I received a notice that my payment is late and needed. I called 10/23 and informed them I did on the 10/10. They said I didn't authorize it. I went back and forth between them and my bank to get this resolved. ****** (CV worker) was helpful and had me submit an email with proof that the money was taken out and I did not receive it again. I got another text asking for a payment 10/24. I called and spoke with ***. He was extremely rude and was not helpful and kept asking if I was going to make a payment and *** also told me the company reviewed my proof and denied my request for resubmitting the money back again so i can send it correctly. In the past this same company made it almost impossible for me to catch up after falling behind and attached an account to mine that I did not authorize, it was a one time payment. It really seems like this company is set up for people to fail.Business response
10/31/2024
Dear ***** ******,
We are in receipt of your correspondence addressed to the Better Business Bureau, dated October 26, 2024. You stated that Village Capital & Investment LLC has processed a payment that you authorized from your account. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:
We apologize for any confusion caused by the information you have received. Thank you for taking the time to discuss your concerns with me on October 29, 2024. During our conversation on that date, you mentioned that your bank had returned the funds.
We have thoroughly reviewed the information you provided regarding your account with ********************************************* & Investment LLC. On October 9, 2024 you authorized a payment of $796.03 for your monthly obligation. However, on October 11, 2024, we received a notice from our cashiering department that the payment had been reversed due to non-sufficient funds (NSF) in your bank account. ********************************************* never actually received those funds.
Unfortunately, we are unable to return funds to you since the bank never sent the payment to Village Capital & Investment. Please note that the dates when funds are withdrawn from your account and when they are posted to our records may not always align perfectly.
We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or email us at ***********************************************************************************************************.
Sincerely,
Corporate OfficeInitial Complaint
10/23/2024
- Complaint Type:
- Sales and Advertising Issues
- Status:
- Answered
I started ******** 9/1/24 shortly after I started getting VA loan offers from various lenders all referencing Village Capital stating Your VA Loan with Village Capital and Inv. Has been tagged as eligible to access certain benefits through your VA Guarantee. I am not a Veteran. I called Village Capital and they could find nothing in their database under my contact info. I asked them to stop this. I just got another one today from Independence home loans. Can you please have Village Capital stop contacting me and have them stop tagging other lenders who are reaching out inquiring about a VA loan.Business response
10/29/2024
Dear *** ****,
We are in receipt of your correspondence addressed to the Better Business Bureau, dated October 22, 2024. You stated that Village Capital & Investment LLC has been contacting you with unwanted solicitation and providing your information to other companies. In regards to the complaint escalation, Village Capital & Investment LLC has determined the following:
Thank you for your time on October 28, 2024. We apologize sincerely for any frustration caused by the multiple messages you have received.
Despite thoroughly investigating the information you provided to Village Capital & Investment LLC, we were unable to locate any records of you in our systems. Prior to receiving your complaint, we have never been able to contact you or share your information with anyone else.
To remove your name from their mailing lists, we recommend contacting these companies by phone, email, or letter.
We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or email us at ***********************************************************************************************************.
Sincerely,
Corporate OfficeInitial Complaint
10/18/2024
- Complaint Type:
- Billing Issues
- Status:
- Answered
I recevied a statement in the mail a couple weeks saying that my mortgage payment was going from $980 to $2200 by Novemeber 1st. When I called I got jolted around from 4 different people and was on the phone for 1 hour and 45 minutes. There was people saying that my escrow account was negative $11,000 because there has been no money going into it. I pay $305 every month out of my mortgage that goes into my escrow account for the last 4 years. They said they did not run an anaylis report for the last 3 years. I have called, email, and sent a message on the portal and no one is getting back to me and when I do call they run me around to different people and the other day one lady hung up on me. It is at the point where I may have to get legal involved in something does not get fixed. There is no way I can afford $2200 for something they messed up on. They tried to say my taxes have gone up and I called and my taxes have not changed for the last 3 years. It is starting to fustrate me as no one is returning my phone calls, emails or messages and nobody can give me a straight answer. All they say is they can stretch out the $11,000 over 36 months and my mortgage would be $1500. I said I am not paying extra for something because you guys messed up.Business response
10/23/2024
Dear ****** R. *****,
We have received your correspondence to the Better Business Bureau, dated 10/18/2024, regarding your concerns with Village Capital & Investment LLCs escrow analysis. You mentioned that clear information was not provided regarding the increased monthly payment due to the recent escrow analysis that was performed on the account. After reviewing your complaint, we would like to provide the following clarification:
We humbly apologize on behalf of the representative that mentioned no money was going into your escrow account. We can confirm that part of your monthly payment was going into escrow.
However, the calculations were based on outdated information provided by the previous lender. As a result, the actual expenses were higher than estimated and there was no escrow analysis conducted in subsequent years. A breakdown of the situation is provided.
Your loan is subject to an Escrow Analysis every September, however, no Analysis has been conducted on your account in the last four years due to the following reasons:
In September 2020, the loan was newly boarded, we did not conduct Escrow Analysis during the first 60 days of boarding.
In September 2021, the loan was over 60 days delinquent, so the escrow analysis was skipped for that year.
In September 2022, the loan remained more than 60 days delinquent, and the analysis was skipped again.
In September 2023, the loan was still over 60 days delinquent, resulting in another skipped analysis.
However, as of September 2024, the loan was less than 60 days delinquent, so we were able to perform the escrow analysis this year.
Over time, weve been using your escrow account to pay your taxes and insurance. These payments can vary because they are based on bills issued by agencies or counties that determine the amounts owed.
An email was sent to the email on file inquiring on whether or not you would like your Escrow shortage to be extended over the period of 60 months so that your monthly mortgage obligation would be more manageable, to which you declined.
According to your escrow analysis, your current shortage is $11,463.84. We take that amount and divide it by 12, which results in your monthly payment increasing by $955.32 per month. If you were to choose the 60-month extension, the shortage would then be divided by 60, resulting in your payment to increase by $191.06 per month.
If youd like to proceed with this extension, please notify us via email at ***********************************************************************************************************.
Enclosed please find the payment history, the tax history obtained from the country website as well as the escrow analysis.
We understand this situation may be frustrating, and we sincerely apologize for any inconvenience this has caused. Please know that we are here to assist, if you have any further questions or need additional support, don't hesitate to reach out.
We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or email us at ***********************************************************************************************************.
Sincerely,
Corporate OfficeCustomer response
10/23/2024
Complaint: 22439874
I am rejecting this response because: the emails I have received from Village Capital has just been about stretching the $11,009 out over 60 months. This company failed to communicate that they did not run an analysis report until now because I filed a complaint. Also nobody can seem to tell me what they are paying out on taxes and insurance. Things are not making sense and they want me to pay money as they failed with their communication.
Sincerely,
****** ***Business response
11/01/2024
Dear ****** R. *****,
We have received your rebuttal to the Better Business Bureau response we had initially provided, regarding your concerns with Village Capital & Investment LLCs escrow analysis. You mentioned that the response weve provided was not providing the reason as to why the account has an escrow shortage. After reviewing your response, we would like to provide the following clarification:
We understand how frustrating this situation is, and we want to help clarify what's been happening with your escrow account.
Background:
September 2020: Your loan was newly boarded. During the first 60 days, we do not conduct an Escrow Analysis. At closing, taxes and insurance were paid by the previous lender.
Subsequent Years: Because your account was over 60 days delinquent, we could not perform an Escrow Analysis in September 2021, 2022, and 2023. Here are the expenses for those years:
2021: Taxes: $3,507.52 | Insurance: $1,310
2022: Taxes: $3,484.24 | Insurance: $1,678
2023: Taxes: $3,442.34 | Insurance: $2,016
September 2024: With your account less than 60 days delinquent, we conducted an Escrow Analysis. The expenses will be: Taxes: $3,442.34 | Insurance: $2,150.
While we collected funds for escrow, the analysis couldnt be updated due to the accounts delinquency, leading to insufficient funds to cover expenses. The escrow account balances at year-end have been as follows:
2020: -$352.74
2021: -$2,300.47
2022: -$5,186.21
2023: -$9,908.93
As of 11/01/2024: -$11,463.84
Missed monthly payments have contributed to this shortfall. Because of the history of delinquency, we were unable to regularly analyze your escrow account, and ********************************************* has been covering the expenses.
We previously reached out about extending your escrow shortage over 60 months to ease your monthly payments. Initially, you declined this option, but in response to a follow-up on 10/31/2024, you accepted the proposal.
Your Options Moving Forward:
With Cushion: Your total shortage is $11,463.84, resulting in a monthly payment increase of $191.06, bringing your new total to $1,171.45.
Without Cushion: If we remove the cushion, the shortage is $10,530.31, leading to a monthly payment increase of $175.51, for a new total of $1,155.90.
Weve shared your payment history, tax history, and escrow analysis in previous communications. Bills from your insurance provider are also being sent to you for your records.
We sincerely apologize for any inconvenience and stress this may have caused. If you have further questions, please reach out. We're here to assist you.
We believe that this response fully addresses the concerns outlined in your Better Business Bureau correspondence. If you have any questions concerning this response or require additional assistance, please contact our *************************** at **************, Monday through Friday, from 5:00 a.m. to 7:00 p.m. PST or email us at ***********************************************************************************************************.
Sincerely,
Corporate Office
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Customer Complaints Summary
264 total complaints in the last 3 years.
109 complaints closed in the last 12 months.