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PROCTOR LOAN PROTECTOR

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PROCTOR LOAN PROTECTOR Reports & Reviews (1)

- Marshall, TX, USA • Oct 18, 2024
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Mortgage Solutions Financial and their third party Loss Draft Department Proctor Loan Protector have refused to release funds provided to me by my insurance company to pay for the repairs to my home. The insurance claim is complete and this is the final installment of my payments to the contractor, but now that Proctor Loan Protector is involved they have withheld the funds without cause. All required information has been submitted, but they refuse to return the endorsed check to me. They do not return calls or reply to emails, and any attempt to receive an updated is met with unreasonable hold times that result in no answers or efforts on their part. The only logical reason for these inexplicable delays is that they are depositing the funds into an interest accruing account and attempting to purposefully delay the process as long as possible. Based on their litany of negative reviews online and with the BBB, I am not the only consumer who has been a victim of this unethical (and possibly illegal) activity. I encourage the CFPB to investigate both Proctor Loan Protector and this irregular business practice. While I can understand a mortgage company's right and responsibility to ensure that their property values are maintained, this exceeds any rational explanation of that process. The only conclusion at this point is that Proctor LP is exploiting consumers by creating an unnecessary process that, even when completed, has the malfeasant intent of delaying the release of funds as long as possible.

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