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Business Profile

Mortgage Banker

CMG Financial

This business is NOT BBB Accredited.

Find BBB Accredited Businesses in Mortgage Banker.

Important information

  • Customer Complaint:

    CMG Mortgage Inc. came to BBB’s attention in February 1999. A review of complaints done in June 2025.

    BBB encourages consumers to review Mortgage Loans and for any questions or concerns, please reach out to CMG Home Loans at Contact Us.

Complaints

This profile includes complaints for CMG Financial's headquarters and its corporate-owned locations. To view all corporate locations, see

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CMG Financial has 224 locations, listed below.

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    Customer Complaints Summary

    • 115 total complaints in the last 3 years.
    • 37 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:08/01/2024

      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.
      We obtained a loan through CMG financial in June of last year. Our taxes and escrow were agreed to be a part of our monthly mortgage payments to sit in escrow and be paid out by CMG. We have just reached a year in this house and they have already missed an insurance payment that resulted in us losing coverage during hurricane *****. We were alerted by our insurance when we went to make a claim that CMG had never paid our balance. We have asked them to overnight the check to our insurance and the *** from CMG refused saying "we will send it by regular mail in 3-5 business days". We have been asking them to resolve this issue since July 15th when we were notified that we were without insurance coverage because of their negligence. They are unhelpful in resolving this matter and seem to have no urgency. We can not get a hold of anyone and its impossible to verify that they are or have sent the check. The money has already been taken out of our escrow but per our insurance has not been paid and we will lose our insurance. We requested the organization cash out our escrow for us to manage since they are not capable. I should have done my research on them beforehand. Unfortunately there are many stories like our online and we will never recommend them after this awful experience.

      Business Response

      Date: 08/20/2024

      Good morning BBB,

      Please see the attached draft response in reference to this matter.

      Thank you

       

    • Initial Complaint

      Date:08/01/2024

      Type:Customer Service 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 recently attempted pay my mortgage online and have been restricted by this company to making payments by mail only. This is very prehistoric and inconvenient considering how often I travel for work. If there was an issue with my payments CMG has not tried to resolve this with me by contacting me in any capacity. The agents informed me that this will be a 12 month restriction which is totally extreme. My payments have been made online for over 4 years and the options are limited to mail . I'm sure they will penalize me if there is an issue with mail or if it late but that will be disputed immediately upon those attempts of false statements.

      Business Response

      Date: 08/20/2024

      Good morning BBB,

      Please see the attached draft response and supporting documentation in reference to this matter.

      Thank you

    • Initial Complaint

      Date:07/18/2024

      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 was told that if I signed up for a program that they offered it wouldnt affect my credit.I was going to be a few days behind on my Mortage payment and the agent suggested this program. I asked multiple times and I was told by the agent that I had nothing to worry about. I would receive some automated calls but I should ignore them, so thats what I did. When I checked my credit report the next month I noticed I was 30 days past due on my Mortage. I called and they said I was given the wrong information. If I wouldve know this I wouldnt have done this programs and paid my Mortage a few days behind. I asked if i could write them a good will letter and they denied me. Ive been in good standing with my payments since opening my account with them. I have since paid my 30 day late Mortage and made arraignment with them to withdraw my next payment on the 25th of this month which will bring my account back to good standing with CMG financial

      Business Response

      Date: 08/07/2024

      Good afternoon CFPB,

      Please see the attached draft response in reference to this matter.

      Thank you


      Customer Answer

      Date: 08/08/2024

       
      Complaint: 22011799

      I am rejecting this response because:

      Sincerely,

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

    • Initial Complaint

      Date:07/15/2024

      Type:Billing 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 writing urgently to address inaccuracies on my credit report caused by the disclosure of my personal information to credit bureaus, resulting in significant financial and emotional distress.As stated in 15 USC 1681 Section 602, I have the right to financial privacy and expect my information to be treated confidentially.Additionally, under 15 USC 1681 Section 604(a)(2), a consumer reporting agency cannot share account details without my explicit consent, which I have not provided.The discrepancies associated with CMG MORTGAGE have negatively impacted my financial standing and need immediate correction.Compliance with 15 USC 1666(b) is also essential, as it prohibits creditors from treating credit card payments as late under certain conditions.For your reference, my account details are:Account Number: *************I request a thorough review of my account, prompt correction of the credit report inaccuracies, and strict adherence to federal laws governing my information.Failure to address these concerns promptly may result in legal action. I appreciate your immediate attention to this matter.Sincerely,***************************

      Business Response

      Date: 07/23/2024

      Good morning BBB,

      Please see the attached draft response and supporting documentation in reference to this matter.

       

      Thank you

    • Initial Complaint

      Date:07/11/2024

      Type:Billing 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.
      CMG financial is reporting me late on my credit report for Feb. 2024 when I in fact paid my mortgage on Feb. 26. My mortgage was not 30 days late and should not have been reported to the 3 major credit bureau's. I contacted them yesterday and was told they would not remove it. This late payment is causing me undo credit and financial issues and I would like this resolved immediately.

      Business Response

      Date: 07/18/2024

      Good morning BBB,

       

      Please see the attached draft response and supporting documentation in reference to this matter.

       

      Thank you

    • Initial Complaint

      Date:07/02/2024

      Type:Billing 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.
      we are recasting our mortgage loan this process started April 7, 2024. We paid $50,000.00 April 23,2024. We paid $250.00 processing fee. The signed forms were mailed to them on May 18th Certified Mail return receipt they received on June 3, 2024 no one did anything with it until the 10th of June. We received a letter mailed on April 25, 2024 saying the new payment was supposed to start June 1, 2024 for $879.02. Instead $1220.04 was taken. I have called and talked to various people trying to get this resolved but to no avail. The July 1st payment (today) still is showing the $1220.04 so they have put it on hold I have until the 15th of July to pay it without a penalty. I never pay my bills late. They are now saying that Maybe they will have an answer for me on July 24th which is after the grace ****** so I would incur a late fee or pay the $1220.04 again and they will try to flip the money onto the principle for both month they are only saying this. It is not in writing and they won't give it to me in writing please help me to get this resolved. They have everything they need to do this it is just on someone's desk. it is so frustrating.

      Business Response

      Date: 07/24/2024

      Good afternoon BBB,

       

      Please see the attached draft response and supporting documentation in reference to this matter.

       

      Thank you

    • Initial Complaint

      Date:06/10/2024

      Type:Sales and Advertising 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.
      Business requested that I purchase homeowners insurance for my home when my property was completely burned down due to fire. I am still in the process of generating plans for a rebuild and they are forcing me to purchase homeowners insurance. I have sent them paperwork showing that the home has completely burned down.

      Business Response

      Date: 06/27/2024

      Good afternoon BBB,

       

      Please see the attached draft response and supporting documentation in reference to this matter.

       

      Thank you

    • Initial Complaint

      Date:06/06/2024

      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.
      My homeowners insurance is impounded into my mortgage payment. CMG is responsible for making the payments to my homeowners insurance and keeping it current.In April, CMG didnt make this payment to my homeowners insurance. I received notifications from my homeowners insurance that the policy was about to expire, and reached out to CMG and was told it was taken care of. I even received email and physical mail from CMG saying my policy was reinstated and everything was taken care of.That was not the case. My homeowners insurance policy expired, yet iam still paying for the expired policy through my mortgage payment.Since April, *** contacted CMG over 20x, and requested to speak with a manager on 6 occasions. Once I was denied the opportunity, and every other time I was told I would receive a call back. It has been over 2 months now and CMG is yet to have a manager call me.In addition, it appears they added their own homeowner insurance plan, and that has caused my mortgage to go up $40/month.In summary, CMG didnt pay my home owners insurance policy, that Iam still currently paying for, then causing my policy to cancel, leading me with no homeowners insurance and no response from CMG for over 2 months

      Business Response

      Date: 06/18/2024

      Good afternoon BBB,

      Please see the attached draft response and supporting documentation in reference to this matter.

      Thank you

      Customer Answer

      Date: 06/18/2024

       
      Complaint: 21811782

      I am rejecting this response because: CMG information they provided is not accurate on several levels. Even in their own response, they provide a letter congratulating me on getting coverage, while simultaneously saying that I'm not covered.

      Since this complaint was filed even, I received a call from CMG on Thursday. We went over the issue for the 20th time, and I was told I would receive a call back that day. Which is yet to happen.

      CMG repeatedly points to the insurance policy not receiving payment and then expiring, yet they never acknowledge the payment is impounded into my mortgage, and this missed payment is due to their mistake. I have had two 3-way phone calls between CMG, and the insurance provider, at CMGs demand, both of which the insurance provider told CMG they are incorrect, and that the payment request was sent on time. Every phone call I have had with CMG, and the insurance provider, results in them pitting me against the other company, and sending me to clean up a mess I didn't make. This is extremely unprofessional.

      In summary, I have never missed a mortgage payment. Almost 3 months after this all started, and I'am yet to receive a call back form a manager despite asking for one specifically on 5 occasions. My impounded taxes and insurances fall to the responsibility of the lender paying them, but here I'am with no homeowners insurance, despite never missing a payment.

      The only option I have been ever given by CMG, was to pay out of pocket to get my policy reinstated, and then to be reimbursed another day. This is unacceptable to me. In no scenario should a consumer be paying out of pocket, twice, for the companies lapse. What if I didn't have $400 to shell out? Would I be told that I'm SOL on insurance since I can't cover the companies mistake until they pay me back?


      Sincerely,

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

    • Initial Complaint

      Date:05/24/2024

      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.
      To Whom It May ********* am writing to lodge a formal complaint on behalf of my client, ***********************, regarding a case of fraud perpetrated against him by ************************* of CMG Financial Home Loans.As *************************** real estate agent at Sonoran Vista Properties, I assisted him throughout a real estate transaction, during which the loan was approved with CMG Financial. ************** placed his trust in *************************, the branch manager for CMG Mortgage located at *******************************, believing that she and CMG Financial would safeguard his interests throughout the home purchasing process.However, despite ****************** initial trust and confidence in CMG Financial, it has become painfully clear that he has been deceived. *************************, representing CMG Financial, misled ************* into believing that the property he intended to purchase was warrantable by ****** ***,and consequently, he was persuaded to pay for an appraisal on the property. Shockingly, this payment was made before CMG Financial and ************************* undertook the necessary steps to assess the property's eligibility, which subsequently revealed that it did not meet ****************'s standards for warrantability.After ************** had already paid for the appraisal, CMG Financial, through *************************, notified him of the insurmountable problem that ****** *** would not approve the property. It has become evident that CMG Financial defrauded my client into paying $525.00 for an appraisal on a property that never qualified for ****** *** approval in the first place.**************, like any consumer, has every right to rely on the representations made by CMG Financial. When engaging in a significant financial transaction like purchasing a home Our attempts to resolve this matter directly with CMG Financial have been futile, I am now seeking your assistance from the Better Business Bureau to intervene and address this issue promptly.Sincerely ***************************** Sonoran Vista Properties

      Business Response

      Date: 06/04/2024

      Please see the attached response.

    • Initial Complaint

      Date:05/06/2024

      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.
      The mortgage I had with CMG was paid in full following the sale of my house in June 2022. I was sent the proceeds of the sale that amounted to $1300.00. A separate check was sent to me with the remaining escrow balance from an insurance payment of $6,000.00. The check was stolen, washed, and cashed by someone that was not me. I was told multiple times to submit an affidavit of forgery, which I complied with multiple times after abiding by waiting periods throughout 2022 and 2021. I filed a police report to no avail. My notarized affidavits of forgery have gone unanswered and the entire problem remains. I stead of fixing this problem CMG gives me the run around and just waited me out hoping I would go away. I want CMG to replace the stolen check since they can look in their records and see the check was not cashed by me.

      Business Response

      Date: 05/23/2024

      Good morning BBB,

      Please see the attached draft response and supporting documentation in reference to this matter.

      Thank you

      Customer Answer

      Date: 05/23/2024

       
      Complaint: 21675580

      I am rejecting this response because:
      1. CMG states they sent the Affidavit to the bank but did not state which affidavit (I have sent many) or when they sent it. 

      2. CMG states they did not find any evidence of mishandling of the documents I have sent, but what about the notorized copies I sent over the last two years that have gone unanswered after they were delivered.

      3. CMG has not provided the reasoning (re: documentation) they used to establish their position and instead rely on the consumer to ask for their documentation. I believe this is another attempt to leave my issue unresolved until I lose interest or give up 

      4. I want CMG to reissue the refund check as it was their duty to ensure I receive the funds, and they made no attempt to safeguard its transit.

      5. I want the documentation they used to substantiate their claim they did not mishandle my past affidavits.


      Sincerely,

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

    CMG Financial is NOT a BBB Accredited Business.

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