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Updated almost 6 years ago,

User Stats

12
Posts
1
Votes
Yoram Aharony
  • Real Estate Consultant
  • Cleveland OH
1
Votes |
12
Posts

Loanadministrations.com or Cenlar

Yoram Aharony
  • Real Estate Consultant
  • Cleveland OH
Posted

I have recently bought a bunch of properties and worked with 3 banks, two of them ended up sending my loan to an administrative company that is terrible. This means that they do not service your loan after you close on the property and another company does that. In my case i ended up with a really bad one. Their service is sloppy and their phone lines are busy and they made so many mistakes in handling my account. They also have an old way of communication for example you can not email them document. You can only fax documents and they have 400 people that are relying on a very bad system the records very little information so you end up talking to different customer support people that can not really help if you need help and that ask you to fax them a print screen of the website if you have a question about a page on the website. Bottom line have your mortgage broker write you an official letter that your loan does not ends in the hand of Cenlar which they call online loanadministrations.com. You will not remember to thank me if you listen to my advise but you will regret and remember this post very well if you don't. Anyways...I feel i have to share this information. I wish someone had told me this before started with my loan process.  Btw, look at their consumer affair report to make a point :) https://www.consumeraffairs.com/finance/cenlar-central-loan-administration.html

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