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Business Profile

Mortgage Banker

Watermark Home Loans
BBB accredited business seal
BBB Accredited BusinessA+Rated by BBB

Complaints

Customer Complaints Summary

  • 8 total complaints in the last 3 years.
  • 2 complaints closed in the last 12 months.

If you've experienced an issue

Submit a Complaint

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

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Complaint status

Complaint type

  • Initial Complaint

    Date:11/29/2023

    Type:Order Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I am not liable for this debt with WATERMARK AT *****************. I do not have a contract with WATERMARK AT *****************. They did not provide me with the original contract as I requested.

    Business Response

    Date: 12/01/2023

    Hello,

    This appears to be a case of mistaken identity.  We are Watermark Capital Inc, dba Watermark Home Loans, and have no affiliation with Watermark at *****************. 

     Watermark at ***************** is a corporate relocation site.  When I conducted a quick online search, the following came up - ************************************************************************************************;

    This customer needs to deal directly with ********************** at *****************, or *************************, a division of AKcorp *** to resolve any issues.

    Please confirm this matter is closed.

    Thank you.

  • Initial Complaint

    Date:08/16/2023

    Type:Service or Repair Issues
    Status:
    Answered
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I sold my deceased mothers house and watermark mortgage holds the loan. My mother passed suddenly without a will, beneficiary, or executor. My sister and I are her sole heirs. We are located in ******* and the house is in *******.I need Watermark to release the payoff information to the new buyer and their mortgage company.Watermark refuses to release the payoff information to myself or my title agent because we cannot complete their successor of interest form, which requires that I be name my mothers executor.I am not the executor but have the following documents (which legally allowed me to sell the house in **)- Affidavit for transfer of title to real property (case #: pb2023-000888)-warranty deed for the property (*************************************************************************)-my mothers death certificate and copies of her id -copies of my id All of these documents have been sent to Watermark multiple times. They never acknowledged receiving them and have failed to return calls, refuse to use email, and wont say where they are sending the successor of interest form (which I havent received). We put the home up for sale June 27th and sold the house July 5th, they have not returned any calls or responded when the real estate agency and the title company notified them the house is up for sale.Myself and my title agent have spent hours on the phone with watermark and have been transferred to 6 different supervisors, none of which can come up with a solution or provide the payoff information.I am now in danger of the buyer backing out of the house sale and having to continue paying the mortgage. Watermark has had no issue cashing checks in my name for 13 months. (Loan #**********)

    Business Response

    Date: 08/17/2023

    Hello.  Watermark Capital's Servicing Manager ********************* reached out to the customer yesterday.  It is our understanding they spoke and are working towards resolving the matter at hand.  Please let us know if this matter has not been resolved to your satisfaction.  Thank you.

  • Initial Complaint

    Date:02/05/2023

    Type:Customer Service Issues
    Status:
    Resolved
    Resolved:
    The complainant verified the issue was resolved to their satisfaction.
    Unresolved:
    The business responded to the dispute but failed to make a good faith effort to resolve it.
    Answered:
    The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
    Unanswered:
    The business failed to respond to the dispute.
    Unpursuable:
    BBB is unable to locate the business.
    I have a mortgage loan through Watermark Capital, **** I received a letter from a 3rd party ************************** claiming that I needed to send ************************ updated information on my homeowner's insurance policy. However, the letter received from ************************ looked like a phishing attempt / scam to acquire my personal information, so I ignored the request. Since my mortgage lender has my contact information (email, phone, address) I assumed I would be contacted directly if they were lacking information from me. Eventually, ************************ took out an additional homeowner's insurance policy on my property that I did not approve. I would like to file a complaint against Watermark Capital for not upholding their end of an agreement, should they be lacking information from me I would be notified. I have a relationship with my mortgage lender (Watermark Capital) and I would be happy to share information with them at their request. I WILL NOT send personal information to a 3rd party company that I don't trust about the coverages or value on my personal property. If Watermark Capital is contracting with a 3rd party to collect information, then I need to be notified DIRECTLY by Watermark Capital. If Watermark Capital does not have necessary information from me, I need to be contact DIRECTLY to resolve the issue. Now I have an additional unnecessary $2,000 homeowners insurance policy taken out on my home that I did not approve. I plan to also file a complaint against ************************ for taking out an insurance policy without my permission when I already had one in place. I do not have a relationship with ************************, therefore I will NOT share personal information with their company. Watermark Capital is at fault for this situation due to insufficient communication. I fear I am not the only person mixed-up in this fraudulent strong-arm billing tactic.

    Business Response

    Date: 02/09/2023

    Hello.  Watermark is working directly with the loan Servicer TMS to determine what occurred and why. The matter is currently being researched and we expect a response by 2/15/2023.  In the meantime, Watermark's Servicing Manager, *********************, has left several messages for the customer.  Thank you for your patience while we collect the facts.

    Customer Answer

    Date: 02/10/2023


    Better Business Bureau:

    I have reviewed the response made by the business in reference to complaint ID ********, and it appears the situation has been resolved in a professional and courteous manner.  I consider this BBB complaint closed. 

    Regards,

    ***********************************

     

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