Cenlar FSBReviews of cenlar.com

$125 annual fee for a HELOC account. Impossible to pay for this unknown fee if you have autopay. Terrible customer service. Every month the monthly statement lists this fee as "Total fees charged since last statement" as if the fee was accruing every month. Extremely confusing all around and ultimately just feels like they are trying to bilk their customers out of a little extra $125/year.

The worst company I've ever dealt with nobody knows how to calculate payments on an equity loan when you make a payment on the principal they misquote you ,I paid 90% of my equity loan it only went down 40% thats not what cenlar quoted me now they say there's nothing they can do about it

My HELOC was fully paid and closed July 21, 2020, and they still have an active lien on my property that they refuse to release and will not talk to me about. They swore originally, they released it and I sent them proof they had not (I am unable to refi, sell my home or get a HELOC because of this). I have called, written, emailed, and faxed all to no avail. I am now having to get an attorney. They do not seem to care that they are violating RESPA and they clearly have no intent to release a lien they have no rights to hold. This has to have been one of the most frustrating interactions I have had. So, now I am off warning others, stay away from CENLAR!

This should be a no-star review. It has taken over 70 calls from my wife and I to resolve 2 out of three issues. The CSR's are not knowledgeable about whatever process of theirs has completely malfunctioned. There is no way to effectively escalate issues even though they often involve large sums of money. CSR's will never let you speak to a "supervisor" instead promising a call back within 48 hours. You will be called back less than 20% of the time and the person you speak with will never have the authority, agency, or access to address your issues. After instructing me to send them insurance claims checks to endorse and send back they decided to withold the funds until AFTER the contractor repairs are complete. All contractors here demand 50% up front. They lied and told me this was due to Federal regulation which has been proven false. I have agreed to submit the work on the claim to any inspection they would like. They have rejected my insurance adjuster's worksheet three times and my insurance adjusters have said that they have never seen anything like it in 20 years. CSR's will pretend to "loose connection", contradict one another, and willingly admit that there is no complaint process that you can participate in. I would not let this outfit manage a lemonade stand. In less than two years I have spoken to: Denise 2198 Hung 2550 Cashana 7254 "Service Excellence" (not making this up) Mary David K60 Akie 3723 Cody Jennifer L04 Katelen EZ9 Julissa 86724 Valerie VYG Dawn C39 Manuel MOL Henry Patricia C22 PePearson Judy 3JV Linsey LMLMT Alexandra 96755 Yanciana Cashana 7845 Carla 473401 Quentyn 45552 Kevona (likes to pretend that she can't hear your call) Linda Paula M. Debby Nicole (Supervisor) Sharon

I just spoke with a rep (Abdul (refused to give me his last name)) on 1/28/22 before 9:30am. He was in a bad mood and rude from the moment he picked up a phone. He continued to be unhelpful and disrespectful throughout the call. I asked him multiple times if I could speak with a supervisor and he refused and continued to be disrespectful. After my 5th ask to be transferred to a supervisor he transferred me instead to another rep. (Is it legal to keep a customer from speaking with a supervisor after they request one???) Luckily this other rep (Justice Bethel Emp# lmjwb ) Had a great attitude and genuinely tried to help me. He didn't give me the information or outcome that I was hoping for, but he had a good attitude and treated me like a human. He deserves all of the credit in the world. I am in the market to refi my home loan and because of my conversation with Abdul, I am no longer exploring options to do so with Cenlar. I wish i would have read all of these reviews before getting a loan from them. I Hope this review saves someone else from getting the same experience. If a company has this much of your money they should treat you better. Be smart, look elsewhere.

Original mortgage from Jan 1988 was sold to Citibank. In 2005 we took out an equity line with them. The original mortgage was paid off in 2007. In November 2019 the equity line was transitioned to CENLAR by CitiBank. In July 2021 we wanted to pay off the equity line. We increased our payments to bring the balance down, CENLAR blocked us from making online payments and automated phone payments. We had to speak to a representative to make final payments over the phone and make the loan balance zero. The last 2 payments were applied to ESCROW, which we didn't have since this was an equity loan. Multiple calls were required to clear that up. They provided no explanation as to why they did that. We requested a payoff statement from CENLAR. In the payoff statement they included a charge for Corporate Advance of $12,723.54. This charge was never provided on any statements, on the 2019 and 2020 1098 Tax form, or credit reports for other loans, etc. Not included in the 2021 1098 which states the balance due on the loan as zero. We have asked numerous times for explanation of the charges, but CENLAR stated it was for flood and hazard insurance with no evidence. We sent them a letter from State Farm in which they state we had insurance from 1987 date of contract to purchase the house continuously thru the time they falsely charge us for force placed insurance. Every time we speak with them, we get a different answer, different amounts and contradicting information. Is it ethical for a company to send out statements with one balance then have a hidden fee they expect you to pay with no documentation or proof they paid for these duplicate wasteful charges on your behalf? Seems like fraud to me. Now they want proof of current flood insurance even though the loan balance is zero and the equity line of credit is technically closed; we cannot draw from it. We have been dealing with this nightmare since June 2021. CENLAR is extremely difficult to deal with and customer service is useless to help. If your loan gets transferred to CENLAR, get another lender ASAP. Worst company we have ever dealt with. DO NOT DO BUSINESS WITH CENLAR, you have been warned!

I would give Cenlar Zero Stars, if that option was available. My Large Principal Reduction Payment made on 12/01/2021 was both Posted a Day Late to my HELOC Account (A Deliberate Overcharge by Cenlar), and the payment was Misallocated between Principal Reduction and the routine scheduled Automatic Checking Account Debit for the Third Week of December. Cenlar acted in a manner 100% beneficial to the Bank, at my expense. A previous inquiry (Last Year) about the Annual Membership Fee (By Telephone) ended with the Bank's Representative hanging up the telephone, and thus prematurely ending the conversation. As I have previously said, Citibank played a Very Dirty Trick on its customers, when our HELOC Accounts were transferred to Cenlar without our prior Knowledge or Consent. This One Star rating also applies to Citibank, for their undesirable actions and Consumer Unfriendly Behavior. Allen J. Frankel 12/16/2021

Paid off our loan. They are taking way to long to reimburse our money kept in escrow. Was told 20 business days to cut a check and then expect 2 weeks for mailing. When texting with agent was told that is the policy and cannot be changed. This is not their money to hold on to for over a month. Bad customer service 😞