Key issues: Delay in settlement | Recovery of repayments | Inaccurate information | Mortgage | Loan servicer
Summary of the outcome:
We found that the consumers’ claims had not been established. This is because the FSP did not delay the discharge of the consumer’s loan or the refinance. Furthermore, the FSP did not attempt to recover the repayment of the consumers’ loan in an inappropriate manner as it provided notice and informed the consumer that it would lodge a caveat if the amount as not repaid.
Summary of Determination
The Determination affirms the position set out in our Review dated 28 April 2016 and specifically notes:
1. The FSP:
2. The FSP has also:
Follow this link for a full copy in PDF >> Determination | 22 July 2016