Arvest Mortgage
Reviews and Complaints

My original mortgage was sold immediately to Arvest in 2018. The process was barely noticeable other than the letter that stated Arvest was the new mortgage company. When it came time to refinance with better rates this year, I checked with Arvest and then Quicken Loans since I had a great experience with a refinance from a prior mortgage. I was actually surprised to find that Arvest came out with much better closing costs and negligible increased rate. Everything went very smoothly with Arvest. Jaime and her team were very knowledgeable, responsive and prompt with all communications whether by email or a phone call when appropriate. I had a two week camping trip planned with multiple stops out of state and the closing didn't quite happen before we left. But this was no problem. Jaime was able to arrange a notary within a 5 min drive from the second leg of our 4 leg trip. That's it. Simple process with great communication. I recommend Arvest.

My mortgage was immediately sold to Arvest after closing. they have been difficult to work with ever since. I use an auto pay through my bank so my mortgage was paid on the 26th of each month (for the next month). After 3 years of doing this they all of a sudden changed their accounting practices (that's the only way I can describe it) and took the payment on the 26th as an "extra" payment toward interest(!) for the previous month. So this put my mortgage in the "late" category which I found out when they sent me a collections notice with hundreds of dollars of fees attached. Took 3 months to straighten it out and they said they can only erase 2 months of fees. I asked them why I wasn't contacted and why sending a payment in 4 days early got them so confused. They were not helpful at all. I have a 28 year history of paying my mortgage with not 1 late payment. I'm in the process of refinancing with another company now just to get away from them.

I would provide a zero, or negative star option if that were possible. After closing, my mortgage was "sold" to Arvest Central Mortgage. I hate this about the mortgage industry, and that as a consumer, I have no say in who holds my mortgage. I have not had positive experiences with Arvest and would happily transfer my mortgage if I were able. Their systems are antiquated, and their processes are not supportive of joint borrower's who do not share joint accounts. My partner and I purchased our home together, both names are on the loan, but we cannot split the payment. When I contacted Customer Service to ask what our options were, we were told that their system would not accept or recognize partial payments and their recommendation was that one of us submit the payment and we settle up independently. Many other banking systems have the ability to accept split payments... It's 2021, update your systems and processes or sell my mortgage to a more competent mortgage organization.

First time as homeowner that a company did not pay (Arvest ) our home insurance premium on time. Our home insurance company been sending them emails and letters but sad to say, the due date comes and our home insurance policy will be cancelled because no premium payment at all. I called back and forth between the Mortgage Company and the home insurance. We are so disappointed and sad, this situation should not be happening. It is very stressful knowing you paid the mortgage on time and the home insurance was not paid. I was told by the rep of Arvest that payment was sent 11/17 but due date is 11/20 and the home insurance company of course will not get the payment by 11/20 because no enough time for it to process. Our mortgage company before is not from Arvest and we have no issues regarding policy payment. Arvest should have been in contact or communication with the home insurance company but instead, I have to reached out to Arvest. I just hope this situation will not happen again.

We recently completed a refinance of our home property with Guaranty Bank, who then promptly turned around and sold it to Arvest Central Mortgage Company. If ZERO stars were an option, that's what they'd get. Once we found out who our new mortgage was going to be with, we immediately did some research, only to read comment after comment about how this company will "fee" you to death. Boy, they were not wrong. I just got off the phone with Arvest after attempting to schedule biweekly payments of $400. I was immediately told that it would cost us $200 to initiate the process and another $3.50 PER DRAFT ($7 per months) for this payment option. We have done this with our last two mortgage companies, one being BofA, with no problems and no fees, so to say I was shocked and angry would be a gross understatement. If you have any choice in the matter whatsoever, STAY AWAY from this company. There are many other lenders out there who are able to provide better customer service that this institution.

I have mortgage with Arvest Central Mortgage company for few years now. They sent me so called escrow analysis raising 200 dollars up each month. when I did math from my end based on the the transitions they provided on phone multiple times, the difference was only $14 altogether. I have been trying to resolve this issue and called them multiple times. spent hours and hours each, day they didn't want to come to the point to solve the issue. they just beat around the bush and confuse people. When I told them I need the actual information (specific transactions with date and amount for the year 2019 and 2020 and I notified her that she was being recorded. The lady just hung up the phone. So, I feel like they are may use some numbers to confusing and cheating the customers. Or some of them are unqualified, untrained and don't know what they are doing. But we (the customers) shouldn't be the victims of their ignorance. Therefore, I would request ComplaintsBoard.com to get into that and find out what they are actually doing

AWFUL! These people should not be in business! I purchased a home with Guaranteed Rate who immediately sold my loan to this garbage company. I've had it 6 months now. I have my payments sent to them directly from my banking bill pay with a minimum of 8 days to spare for them to cash them before a late fee hits. Every single month I've had to call them to find my money, every single time i get the "i'm emailing our cashiers department to locate your check" line. The last 2 months they haven't cashed my check until 13 days after having received it! Once the rep found a check for my amount for a different bank/account and was like "oh so this isn't yours then?" They just have checks laying around is what it sounds like, it's beyond RIDICULOUS! I have asked to speak to the Cashiers department and was told they don't take calls, RIDICULOUS! I've had several mortgages, this is the worst experience of all of them (and I've had some pretty crappy ones). I'm refinancing, can't deal with this incompetence anymore. Don't do business with these people, they SUCK!

My loan was sold to Arvest without my knowledge. I have never in my life been late on a mortgage payment to this investment property or my own property. However, due to their late reporting and my being out of town, I did not know my loan had been sold until Arvest called me. I immediately paid what they said I owed. They got the loan transferred on June 5 - wrote a letter which arrived weeks later when I was out of town- and finally called and applied my payment on July 9 and reported me late to the credit bureau. I called many times to explain what had happened - that I was not late on purpose and there should be some grace period for a loan being sold out of nowhere. I was told repeatedly by them they would not report me, that they understood and in fact it was against the law for them to report me to the credit bureaus in this circumstance. Yet it is on my credit report as 30 days late so they did in fact turn it over as late.
Be very careful with this servicer because they probably get extra stars for marking people as "late" over there. Perhaps they are wringing their Grinch hands each time.

I just read the reviews here. It seems there are five stars and one star. The descriptions seem to refer to two completely different companies. We are in the middle of a refinance with Arvest. Our existing mortgage is with them. Had I read these reviews before the loan application, I may have hesitated, but I trust my own direct experience with them more than reviews by others. My experience has been like the five star reviews. Our loan was sold Arvest shortly after we created it with Guaranteed Rate in 2016.. The transfer smoothly. I went online set up online set up an account, ACH payments without a hitch. We have changed insurance carriers, that change was made without an issue. Communications have been exactly as one would expect. Our current application was the best mortgage or refinance experience I have ever had. Our rep answered every question instantly, accurately and completely. Appraisal fees were waived, and required documentation was minimal. We have not closed, so if things go haywire, I will be back to take my swipes at them, but I doubt that will happen. One final observation is that many of the most negative reviews revealed as much about the reviewer as this company. Clearly, some of these folks just don't understand how things work and have a chip on their shoulder.

Our loan was sold one month after our refinance unfortunately a few months later my husband passed away my name was not on this mortgage because it was done very quickly as a refinance and we had no idea he was going to pass away He passed away June A few months later my checking account of 30 years was hacked Bank of America does not write letters any more concerning fraud so you just have to explain it Bank of America does not write letters any more concerning for our account so you just have to explain it The Bank of America manager said it would make sense that they would reverse it I made over 50 calls to this mortgage company and they will not reverse $25 NSF charge even though I'm paid ahead four months The checking account had to be frozen at one in the morning and a new one opened at which the mortgage payment was paid When the account was first set up We did not receive a bill I was trying to set it up online again several calls were made to the mortgage company they kept saying wait until you get a bill so therefore there was a late charge they reversed it and their policy is one time in life they will reverse a charge I found this unacceptable I've never heard of them and I would never use them if I had my choice unfortunately they on my loan and they were not reversed the $25 charge from my account being hacked which was not my fault I even went into the Bank of America and spoke to a manager and he said they should reverse it but they won't

My review is almost identical to all of the other negative reviews given to Arvest Central Mortgage! We closed on our home's refinance on Thursday, June 18 with Atlantic Bay Bank, Jim Smith, loan officer. Jim and the staff at Atlantic Bay are all wonderful.

Unfortunately our mortgage was quickly sold to Arvest Central Mortgage Company and we totally agree with Linda O. If you offered ZERO STARS we would give Arvest Central Mtg. a big fat ZERO. Once again we are referencing Linda's comment because I feel the same way. We also went online and researched our new mortgage company only to find negative reviews, after negative review. Today I called Arvest Customer Service and spoke to a pleasant woman. First I wanted to confirm that they had received the paper work I sent them last week requesting auto semimonthly (twice a month on the 1st and the 15th) payment drafts from our Wells Fargo checking accountant. She asked me if I was aware of the fees that are involved with this arrangement. There is a fee of a couple of hundred dollars to set up the process and an additional fee per automatic draft. We have always used this method with all of the other mortgage companies we have dealt with. Not only for paying our mortgages, but also to pay our car & motor home loans. We pay our utilities, phone bills, etc. with auto pay and there are NO FEES! Anger, disbelief and disappointment and nothing we can do...except paying the loan off, which they would probably charge an early pay off fee and we would have to win the Virginia Lottery in order to have the funds to pay off the loan.

I agree with most of the other reviews. If I could leave ZERO stars I would! This company is a joke and I don't know how they stay in business---oh wait yes I do, they charge fee on top of fee and have a run around explanation for everything which NEVER clarifies anything! One customer representative tells you one thing, the next tells you something completely different and then an even different thing is done! Everything told to us is contradicted. For example: One person told me they "were obligated" to pay our taxes when I called to question why our property taxes had been paid by them. Fought and fought and ultimately they had already paid the taxes.. just to look the next month and they had been refunded the tax money back from the county! NO ONE EVER NOTIFIED US OF ANY OF THIS! And now today I call and they tell me "we are not obligated to pay your taxes". Same is true of our homeowners insurance. I was instructed to provide them with our policy and they wouldn't put their own coverage on. We did so. Now today I am being told that they are required to pay our insurance and have been taking money for escrow for that. AGAIN NO NOTIFICATION. They will not let you make partial payments to make a full payment throughout the month; if you owe they won't accept any money unless it's the full amount. They create escrows without notification and then change the escrow amount without notification again! And they are allowed 30 days for any responses...yet require you to pay your payment on time or get late fees. Sorry, you're not getting my money until I get an explanation and I WONT pay the late fee!

We refinanced with Arvest who was holding our mortgage that was sold to them. The first phone call went well and they stated they already had most of our information and that we would have not needed to supply it again since they were holding our existing mortgage. Our thinking was a simple verification of information. This was not the case at all. The fact is, we had to send some information to them THREE times. In the end,they dropped the ball and did not pay our balances off as we were led to believe, and we had to do all the final leg work. The process has taken close to two months from the first phone call and we are still finishing up. They are friendly to you on the phone-a positive one star-and act like they want to help but in the end they did not deliver what a good mortgage company should have done. Like taking care of everything from start to finish. I have used several mortgage companies in the past. Arvest is the very worst experience I have ever had. I would not use them again. They say one thing to you and then do the unexpected like finding a envelope on my porch, full of checks in it thinking it was all taken care of after we closed. Someone could have picked up this envelope and we would have never known what happened. No signatures for delivery? No correspondence or verbal we would get them sent to us. We now have to print statements (per title company's instructions included with the checks), and write out envelopes with addresses we have to look up, as well as pay for all of the stamps. We assumed they were taking care of it, as they said they needed our statements for the mailing addresses for the payments.

Totally agree with the other reviewers, I wish there was a negative star to assign to this company. I've been a customer to several mortgage banks and this one is so bad it does not look like a real bank. These are the main issues I've identified in only 2 months with them, yes like others my mortgage was sold to this ghost company and nothing we can do about it. - $5 fee for online payments from your checking account ! That is a $60 a year fee just for paying on time. - No option for paying an additional amount to your principal, if you pay an extra they automatically add it to the escrow. - No option to save your login credentials on your private computer. - Customer service agents don't know anything about anything. I contacted them via website about these issues and this was the answer: "Thank you for contacting Arvest Central Mortgage Company (ACMC). When using your personal bank's bill pay service, please be advised that notes & memos do not come over with the payment. Due to this, if you send an amount that is $100 less than, or any amount greater than the regular monthly payment, the funds will be applied as payment first. We encourage you to monitor your account online to ensure additional funds were credited as intended, and if any changes are required you are welcome to email us or give us a call. You may also mail a physical check, please list your loan number and include a note "for principal only" or "escrow only" and mail it to ..." In the XXI century, in the age of artificial intelligence, that I need to write a paper check or call them every month to add money to my principal. Simply amazing! Pleading God everyday that they sell my mortgate quickly to a real bank.

This is my review of Arvest Central Mortgage Company and the refinance of my home loan with them completed in October . They are the holders of my original mortgage loan so there was no change in mortgage lenders for me. The refinance allowed me to go from an adjustable to a fixed loan with some cash equity taken out. The process from start to finish, applying for the loan until receiving final payment check took about 5 weeks.

The loan process was done entirely online with Arvest Central Mortgage Company and their chosen title company and with no physical contact between me and them. The only physical contact I had during the loan application process was a mobile notary who came to the house with final closing documents that needed signatures and verification of recipients.

I worked with three Arvest Central Mortgage Company representatives and three title representatives and did this entirely online using email and the Arvest app. During the loan application process Arvest Central Mortgage Company requested many documents from me that needed scanning on my part and then attachment to my emails which was then sent back to them.

F.Y. I . If you do not have a home computer, scanner, or a way to FAX than you may have to do this at copy store.

The loan process was rather lengthy with many emails going back and forth to the various representatives that were requesting documentation.

The representatives I worked with were all polite and considerate to my needs with regards to the information they needed to complete the loan process.

I felt that Arvest Central Mortgage Company took many precautions to prevent online hackers, thieves, and all around bad guys from stealing my information and thus disrupting my loan process with a failure to complete.

Digital online security measures are a must in this age of hackers and I feel Arvest takes their online security very seriously.

In conclusion I feel that the Arvest Central Mortgage Company representatives and the title company representatives did a very good job working with me during my loan application process.

This is absolutely the worst company to deal with ever. My loan was sold to them. My initial interaction with this company was 3 months after they acquired my loan in the form of a letter stating I had to purchase flood insurance within 45 days or they would purchase from me due to being in a flood zone. WE AREN'T IN A FLOOD ZONE. I had to supply all of this documentation just for the representative to tell me "Oh, it looks like we made a mistake, sorry." Customer service is off to a great start threatening their customers with a $2,500 increase to their homeowners insurance. Fast forward a few weeks and we receive notice that we will be charged $5 unless we sign up for auto draft monthly, so we did. Next month rolls around, no auto draft completed. I call the company and ask "Why" the phone representative tells me "because you're ahead on your payments, we can't auto draft until your payment is due." I let her know that we pay ahead to save interest and want to continue doing so. She then tells me this can't be done, the only option we have is to go into your bank account and create a bill pay. She then removes my account from auto draft (allegedly). 2 days later I receive a call from a different representative "I just wanted to call you and let you know that we are capable of doing what you requested." I never authorized them to place me back on their auto draft system now that I have them set in my bill pay. Next month comes around, 2 charges! 1 from my bill pay, and the other their auto draft. In a shocking turn of events, still awful service from this company. I call my bank and create a stop payment, which triggers a phone call from Arvest stating "well your payment was only applied to principle so if you don't pay you will be counted as non-payment." At this point, I'm beyond over trying to pay your company. I have other properties and have never struggled to pay a company. I'm now going through a re-finance just to get away from this horrible company. It took you all 6 months to create such a poor taste that I have agreed to add more money onto my loan just to get away. You all should be ashamed of the business model you have and how your representatives have minimal knowledge in assisting customers. If customers were able to choose their banking institutions, you would be out of business.

Company illegally and mistakenly put my mortgage in default. My mortgage was transferred to this servicer as of [date]. Under federal law, during the 60 day period following the effective date of the transfer of the loan servicing, a loan payment received by your old servicer on or before it's due date may not be treated by the new servicer as late. I did not receive a bill from Arvest in [month], but did receive one from my old servicer, so mailed my [month] payment to my old servicer. In early [month], Arvest called me and asked if I needed help financially with my loan as I hadn't made a [month] payment. They also mailed me a new bill for two months - [month] and [month]. I explained I had already mailed the [month] check to [old servicer] and was waiting to see if it would get forwarded and cashed. They asked me to please mail (or pay by phone or online for fee -no thanks) the [month] and [month] total to them. They assured me they wouldn't cash the first check sent to [old servicer]. On [date], they first cashed the small [month] check, then the next day cashed the [month] and [month] check. They have received THREE MONTHS OF PAYMENTS IN TWO MONTHS. And today I receive notice that my loan is in default after 44 days of no payments. This could affect my credit and needs to be resolved immediately.

Arvest Central Mortgage is not processing my Mortgage which the company purchased from Pulte Mortgage, now I cannot close on the sale of my house. Arvest Central Mortgage purchased my mortgage on my home from Pulte Mortgage on 3/1. I was to close on the sale of my home on [insert date] located at [insert address] however Arvest has not processed my mortgage into their system so they will not provide a payoff letter to the closing agent. I have spoken to multiple customer service reps between 3/3 and 3/5 each time I have been given different responses to when they would process my mortgage and provide the payoff letter to the closing agent. I have been told it would be completed 3/5 in the early morning when it wasn't complete I called again and was a day or two then I spoke to someone else they said 4/1. I can't get a straight answer from them, and I cannot finalize the sale of my home due to their mismanagement of mortgage. I spoke with someone named [insert name] in their customer service department he stated they buy thousands of loans at once and cannot possibly input them into their system all that quickly. I really need help so we can finalize the sale of our home. Please help if you can. I don't know how this company is allowed to practice business in this fashion. Thanks for any help you can provide. [insert name] [insert phone number]

They paid my home owners insurance from my escrow but not my fire insurance. I had to pay it myself but can get the money back from impound. I live in California and my home is in a fire zone. Therefore, I have to have homeowners insurance and a wrap around fire insurance. They only paid one insurance and I received a cancellation notice from my fire insurance company California Fair Plan. I called Arvest and spoke to several employees everyday for a week and a half to get the bill paid from my impound. They said they had to make a line to that insurance. This took over 5 days and they still never sent payment. I spoke to Karen, Guermo, Saba, and then Anna in insurance who said she would call and promised to get the money to insurance before it cancels. There was no call and when I spoke to Saba this morning 7/1 the money was still not sent. Then she said there is a problem with the system not communicating with anyone else in the company including customer service and the online website. I had to pay the fire insurance on my own and then they said they won't pay me back from my impound that they make me have. So I pay monthly toward an impound that isn't paying my bills. I paid the amount owed to California Fair Plan. I want that money back from my impound that they failed to send out. I asked to speak to a manager several times and they always transfer me back to insurance. They won't let me escalate this.

Arvest Mortgage is requiring us to purchase flood insurance in a non-flood zone. Our loan was sold to Arvest a few months ago. We received a letter from them stating our flood insurance was cancelled and if we did not provide them insurance or a LOMA from FEMA within 45 days they would get it for us and deduct the amount from our escrow. I have contacted the NFIP who stated we are not even in their system. I was told to call FEMA, who also stated we are NOT in a flood zone. This is when I placed my first call to the mortgage provider asking them to please review this because their information is wrong. They "initiated a claim" and said to call back in a week and a half. I called back a week and a half later and was told my claim was "still in progress" but they still needed a LOMA from FEMA. Fine, but now they've wasted a week and a half of my time. The man also said we are in a different flood zone than what their letter said. The LOMA takes 60 days, yet they are going to charge for insurance I do not need in 45 days. I told them this and they said they would stop the notices until I got the LOMA. I thought this was fair and applied for the LOMA. Fast forward 2 weeks and I receive a "second and final notice" to provide flood insurance within 15 days or it would be deducted from my escrow. On the previous phone conversation I was told there would be 3 notices before insurance was applied, but I shouldn't have even received the 2nd one. I called once I received the 2nd notice and explained everything up to this point. The man puts me on hold, then comes back to tell me I'm right, we are not in a flood zone. They were given the wrong information by the previous lender. This was a blatant lie because we haven't been in a flood zone until these people showed up. I asked him to stop the process and not deduct the money, as we are now at least on the same page. He said he can't make any promises, but if they did deduct money it would be refunded. They have, at this point, admitted they are wrong, but still somehow can't stop the process of deducting money from my escrow for unneeded insurance. They filed another claim, but told me it could take longer than 15 days to complete. So far, they've done everything they can to put a roadblock in fixing a problem that is completely their fault while they take zero blame.