MCAP Variable Mortgage Consumer Reviews

I have had a mortgage with MCAP for over 7 years, I suffered a stroke. They have been 0 help and continue to take payments out even though I sent them doctors letters and documents proving I was taking home 75% less income because of the stroke. 2 mths in and they are still processing if they can help. They amount of stress may cause me to have another stroke. I have never dealt with suck poor customer service or even just subhuman behaviour. Mehdi the case manager needs to be fired and should never deal with people. STAY AWAY FROM MCAP. Keep this has a record, because there handling may actually kill me.

Not competitive products, horrible customer service, excruciating fees please do yourself a favor and do not, DO NOT give your business to this company.

Avoid like the plague. Mortgage increased from $3,400 during the signing, became $3,700 in the first month, then $3,900 a second month and $4,500 the third month. They made it soooo hard to apply for the mortgage, always asking for new documents only to trap us in this mess. Thieves!

Make sure you comb through your contract with a fine-tooth comb. I was told I needed a co-signor, so I found one. When we went to sign documents 3 days before possession, my co-signor was on the title. It was not too late for me to run and find a new lender, so now my co-signor is on the title. To remove them after a certain amount of time is costly, about $2000-3000.
I also looked at refinancing and going back to the bank, but too bad for me, I was put into an arms-length agreement which you can not get out of unless you sell your home, and not to the family. This was also never explained to me upon applying for the mortgage. Be careful if taking a mortgage here!!!!

MCAP has charged me twice outside my regular mortgage payments without notifying me during my mortgage with them. The first time it took me 2 different emails to 2 different representatives, where I got 2 different answers. When they admitted their error, they advised they would correct it on the following payment date. However what they did was they reduced my payment by the amount of the error, and this amount was not reduced off my Principal. Not only had they charged me in error, but they also did not reduce my Principal by the amount of their error, therefore making me incur additional interest for successive mortgage payments based on their mistake. The second time was charged and I have yet to hear a response to why I was changed. My mortgage is over with them now and they have not refunded me my money and have not replied back to me. Also, one of their renewal account managers was the agent assigned to my renewal process. He provided me inconsistent information from 2 months prior to my renewal date, and when I requested for a new renewal account manager through MCAP's general inquiry email, he was notified and followed up with me with a very defensive tone that only he was able to help me with the renewal process. When I finally decided not to renew with MCAP and requested a discharge letter, he phoned me asking why I would prefer to pay legal fees to renew my mortgage with another lender? (Legal Fees? why would I need to pay legal fees to renew with another lender) It was a tactic he was using to scare me which was completely false! He then asked why I was choosing to leave MCAP, and I had advised him that I was getting inconsistent information during the renewal process, and then he got extremely defensive. Given my experience with other mortgages in my lifetime, I've never had such an immature representative provide me with service. Never have I had a renewal agent ever use scare tactics against me. This one seems uneducated and unprofessional. Given that MCAP doesn't provide alternate representatives upon request is also a major gap in their customer service. On top of that, not getting a response to my inquiry on unknown charges and not refunding it is just theft. Don't use MCAP, it's just not worth your time and sanity.