CENLAR Warning! Can CENLAR Validate Your Mortgage Debt? Probably Not!

Steve Dibert, CEO of internationally-renowned mortgage fraud investigation firm MFI-Miami, announced today that MFI-Miami has discovered serious flaws in the way CENLAR validates debt owed by homeowners. As a result, MFI-Miami has issued a CENLAR Warning to homeowners. 

MFI-Miami CEO Steve Dibert:

Homeowners need to request their complete mortgage transaction histories from CENLAR Mortgage and review them. If there is missing information or if something doesn’t look right, they need to contact a lawyer or a properly trained mortgage fraud expert immediately!

MFI-Miami has examined nearly 50 transaction histories from mortgage loans currently serviced by CENLAR since 2015. Nearly 30 of these contained serious accounting flaws in the transaction histories. These flaws would call into question the amount homeowners owe on their mortgages. Additionally, MFI-Miami’s team of Forensic CPAs have described CENLAR transaction histories as everything from a mess to a trainwreck.

These flaws also include 5-year and 10-year gaps in the transaction histories. They also include conflicting payoff figures on payoffs dated the same day. As well as transaction histories with fictitious and inflated payments made to local taxing authorities.

Steve Dibert also said:

There is a definite pattern of impropriety going on here. I find it odd that one of the largest mortgage servicers in the US can’t do the basic 5^th-grade math required to calculate an accurate payoff on a mortgage. 

Homeowners Sue CENLAR Over Forced-Placed Insurance

In 2013, Thomas M. Curtis filed a force-placed insurance lawsuit against CENLAR FSB and its associates in April 2013. Curtis claimed the company illegally force-placed insurance plans on his Florida property.

According to the lawsuit, Curtis purchased a second home located in West Palm Beach in December 2008 using a home loan through Freddie Mac. This mortgage was then serviced by CENLAR FSB.

Curtis bought homeowners insurance required under the mortgage. Consequently, he renewed every year without allowing the policy to lapse. However, Curtis received a letter from CENLAR in October 2012. CENLAR stated he was required by the terms of his mortgage agreement to buy wind insurance, which his current homeowners’ insurance did not include.

Curtis then filed a lawsuit against CENLAR. Curtis stated in the suit that wind coverage was not specifically required by his mortgage. He also stated CENLAR had accepted his insurance policy for the prior three years. Following Curtis’s refusal to purchase wind coverage, CENLAR purchased a policy that included wind coverage on his behalf at an annual premium of $7,512.91. CENLAR later billed Curtis’s by attaching it to his escrow account. 

Call MFI-Miami today to learn more at 888.737.6344