Is Greentree Mortgage a trusted company?

Answer 1

"After a brief time researching the company, I've come back with an overwhelming "yes" to this question. Everything I've found about the company is about how people have been with the company for decades without a problem, and how helpful they've been."

I would like to see your research footnotes and references for the above answer. It is extremely vague and unsubstanciated.

Consumer Affairs: 1 Star BBB Rating: F

Articles Regarding Third Party Servicers and GT Complaints / Lawsuits: Just Use Google

My personal experience with GreenTree Mortgage (took over servicing my loan from Country Wide) GreenTree Mortgage purchased my mortgage from Country Wide approximately two years ago. While the customer service folks are friendly ... I hit a hardship just as I was finalizing a HARP refinance to reduce my payments by $1000.

They declined my HARP loan "just for the interim" because they couldn't verify my property type.

Less than month after that, I was no longer qualified due to the hardship (during the HARP refinance process, I resigned from the company listed in the loan documents; and wasn't given no change or time to update it)

Upon requesting a one month deferment to resolve the issues, my request was denied; and the pre-foreclosure notices started flooding in. I began receiving calls from approximately 50 unique numbers, so it was impossible to track who I was speaking with.

Every representative said that they took notes of our conversation and our potential solutions; however: upon writing or following up .. the notes were gone.

Per my estate attorney - they had also sent an "artificial" notice of default, via certified mail, stating that they could not speak with me to mediate. I stated that I wanted to work with them; providing them with my attorney information; but the calls kept coming and the attorney received no such mediation call.

Also per my attorney "GreenTree Mortgage is one of the worst servicing companies their firm has had to work with".

My credit was in the high 700s, and try as I might to reach a representative; my credit report now lists delinquencies / default and has plummeted into the low 600s.

GreenTree Mortgage were amiable as long as the minimum payments came in (for almost 8 years straight). As soon as there was a resolvable hardship, including a death in the family, they became utterly apathetic and unresponsive.

And though they stated in their letters that I "had options"; it turned out my only option was to provide proof of 3 months of DTL income (equally $180k year) in order to restructure the loan.

The house is worth less than $250k.

Your own experience my vary. I would recommend staying away, personally and if you end up working with them: be 100% SURE you get everything and writing and have job stability and that everyone in your family is in perfect health.

My answer: Avoid GreenTree Mortgage at all costs.

My real estate attorney's answer: Avoid them like the plague and find a new servicer ASAP if you find yourself working with them.