Several unsatisfied members of complaint forums are speaking out against financial companies because they believe that most of these firms are solely trying to obtain money from them through fraudulent transactions. There is certainly a huge misunderstanding that has been created against these major financial companies who have been in the business for over a decade. Thus, a correction should be made in order to clear the issue, and to provide sound financial guidance to consumers who are searching for the best financial solutions. Let us take for instance the issue of Cenlar mortgage company.
What is Cenlar?
The Cenlar mortgage company subservice loans in all of 50 states. This means that the company is knowledgeable in all loan laws per state for them to stay in business for over 40 years. It must be emphasized though that Cenlar only subservices loans and they do not compete with other loan companies which clearly implies that your loan package will only be with Cenlar if your original loan company went under.
What are the Common Reasons for the Complaints?
If all reviews from numerous individuals were to be accumulated, there are three reasons for the dissatisfaction.
Primarily, there is a lack of efficient communication between the customers and the company itself. In one post found in a forum, the complainant said that he has never missed a mortgage payment and has always been happy with the way his mortgages were paid – with taking the full amount towards the payment, leaving the rest towards the principal. But without prior notice, Cenlar suddenly shifts his collection process so the customer is pushed into a scenario that is completely new and perhaps confusing. So in order to avoid dissatisfaction, one tip is to give enough leeway for communication letters, phone calls or emails to be sent out and received prior to the implementation of changes.
The second common reason for the bad review is the fact that there are some customers who associate bad claims and customer service with off-shore employees. In one negative review against Cenlar mortgage, the reviewer noted that corrections to the account were not made because “…the call center in India is not qualified…”
Another complainant wrote that the response to an email he sent started off with the line “Dear Customer”. And for that customer, perhaps he was looking for a more personalized reply to his query instead of a generic email message that may not completely address his unique concerns. Lastly, another reviewer wrote that he was told a different story by a different representative every time he called in with the same issue. With that said, it becomes obvious that proper training of all representative of this international firm should be in place. Issuing company-wide memos are also needed in order to make sure that all employees are aware of company updates; thereby reducing the chances of poor customer experience.
However, the core of these complaints is the alleged wrong documentation of Cenlar mortgage payments. According to reviewers, their monthly payments were either lost in the mail or were undocumented and results to them being transferred to a collections agency that affects their credit score. And this is very important because the American market is a credit market.
Why Cenlar is a NOT Scam
Cenlar mortgage is regulated by the Federal Office of Thrift Supervision and that means that it is a legitimate company operating within the boundaries set by the agency and the state. Hence, Cenlar is subject to Class Action Lawsuits if there are enough bases for official complaints. Cenlar customers need its mortgage services in order to keep their houses and maintain their credit scores. With these two reasons alone, it can be strongly established that Cenlar is not another fly-by-night firm.
However, the reviews that Cenlar mortgage has received are not all bad. There are also a good number of happy customers who were able to keep their homes and their credit worthiness. The only change that needs to be done, then, is to better company communication and to make sure that all customer service representatives are always at their best.
If you are in need of reliable mortgage loan services do not be afraid to try Cenlar. After all, the firm provides numerous financial advantages that will certainly benefit you.
