|
11280959
|
2024-12-26
|
Struggling to pay mortgage
|
Mortgage
|
|
| Issue |
Struggling to pay mortgage
|
| Timely |
Yes
|
| Company |
SERVICEMAC, LLC
|
| Product |
Mortgage
|
| Sub Issue |
Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2024-12-26
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-12-26
|
| Company Public Response |
Company has responded to the consumer and the CFPB and chooses not to provide a public response
|
| Complaint What Happened |
I was behind on my mortgage, and requested a modification in XXXX, 2024. I was approved a 3 month trial in XXXX of 2024. When I received my new loan the terms 40 years, had increase, the interest payment was increase and the tax and insurance days to sign and notarize the forms or would be cancelled. I felt intimidated. I first tried the portal they have, XXXX XXXX XXXX portal. But it was closed. So I sent a letter on XX/XX/year>, stating concerns about this new mortgage. That they wanted me to sign quickly and return. The first one I mailed out XXXX day delivery. No response from ServiceMac. Then I sent out the second following another set the XXXX of XXXX. Still no response. So on XX/XX/XXXX, I sent another one out. Today, they called me, I asked them did they receive the letter, they said no. So I asked to speak with a supervisor in loss mitigation and they took a long time, asking what the letter stated. I kept asking them did they receive any letter, then they said they did. I asked when did they. I requested a timeline for when my concerns will be reviewed. They couldn't say and told me they don't negotiate mortgages. That is when I told them, I wanted my HUD counselor on the phone. To hear the conversation and to speak on my behalf. I was giving him approval.
|
| Consumer Consent Provided |
Consent provided
|
|
|
6265574
|
2022-12-01
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
SERVICEMAC, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2022-12-01
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2022-12-01
|
| Company Public Response |
Company has responded to the consumer and the CFPB and chooses not to provide a public response
|
| Complaint What Happened |
In XXXX I received a bill from Servicemac for my monthly mortgage payment. My usual payment was about {$1000.00} monthly. However, I receive a new bill in the amount of {$39000.00}.
I called in XXXX and spoke with a representative who stated that it was a clerical error and it should be fixed by the next month.
In XXXX I receive the bill for {$39000.00}. I spoke with a tax department supervisor XXXX on XX/XX/24 who was going to have this issue escalated and it was supposed to be fixed in XXXX business days.
I followed up on XX/XX/XXXX s/w XXXX who explained that the money put into the escrow account had been refunded and the issue would be solved the next businesss day.
I receive another bill in XXXX for {$39000.00}. On XX/XX/XXXX my husband called again and spoke with XXXX ( XXXX XXXX XXXX XXXX XXXX XXXX ).
We have not been given any clear explanation what caused the delay in solving this huge discrepancy on our account.
|
| Consumer Consent Provided |
Consent provided
|
|
|
11210666
|
2024-12-19
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
SERVICEMAC, LLC
|
| Product |
Mortgage
|
| Sub Issue |
Trying to communicate with the company to fix an issue while managing or servicing your loan
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2024-12-19
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2024-12-19
|
| Company Public Response |
Company has responded to the consumer and the CFPB and chooses not to provide a public response
|
| Consumer Consent Provided |
Consent not provided
|
|
|
6110795
|
2022-10-20
|
Trouble during payment process
|
Mortgage
|
|
| Tags |
Servicemember
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
SERVICEMAC, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2022-10-20
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2022-10-20
|
| Company Public Response |
Company has responded to the consumer and the CFPB and chooses not to provide a public response
|
| Complaint What Happened |
Company : ServiceMac For XX/XX/XXXX, my mortgage has suddenly increased by {$110.00}. When I called customer service they informed me that it is because my school taxes increased. They did not.
Then they told me there was an escrow evaluation done in XXXX and they determined that there was an escrow shortage of {$810.00} which I would have to repay in order to get caught up and not face another shortage. They said they sent me a letter in the mail. They did not. I always open mail from ServiceMac. I did not receive an email either. And in fact, when go on their website monthly to check things out and to make a payment, there is NEVER an escrow shortage.
I got a supervisor on the phone who said he will send me the escrow evaluation to my email so that we can discuss the shortage together. Wherever it says " Escrow Shortage '' the amount is {$0.00}. I told him he is actually making my case for me seeing as there is no, and never was, an escrow shortage.
He then tells me that my CURRENT escrow account has a shortage for the taxes that will be coming up. I log into my ServiceMac account to find that there is actually a decent surplus in my escrow account.
He then tells me ( excuse # 3 ) that my taxes must have gone up. While we are on the phone, I log into the XXXX XXXX website and find the taxes paid and projected on my actual house. They increases a teeny bit between XXXX and XXXX. Then he tells me that their escrow projections are based on XXXX taxes. I click on XXXX and my taxes are actually going down next year.
What this mortgage company is doing is charging bogus fees to hardworking homeowners by tagging on " projected '' escrow fees at the end of the year thinking no one will notice or think to check their taxes. I suspect, that once they do this to a XXXX XXXX XXXX customers, they'll make interest on the money so they can make their projected budget.
In my entire adult life, I have never once had an escrow shortage on a mortgage and I have owned a home for 20 years. This practice is shady and they know it. And in fact, they tried to pull this last year by raising my payment more than $ XXXX. They admitted it was an escrow evaluation error.
Please do something about this. I will be contacting the FTC as well, and any news outlets I can find that will take this story on and bust them for these shady practices.
|
| Consumer Consent Provided |
Consent provided
|
|
|
6813424
|
2023-04-08
|
Problem with a credit reporting company's investigation into an existing problem
|
Credit reporting, credit repair services, or other personal consumer reports
|
|
| Tags |
Servicemember
|
| Issue |
Problem with a credit reporting company's investigation into an existing problem
|
| Timely |
Yes
|
| Company |
SERVICEMAC, LLC
|
| Product |
Credit reporting, credit repair services, or other personal consumer reports
|
| Sub Issue |
Investigation took more than 30 days
|
| Sub Product |
Credit reporting
|
| Date Received |
2023-04-08
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-04-08
|
| Company Public Response |
Company has responded to the consumer and the CFPB and chooses not to provide a public response
|
| Complaint What Happened |
Dear CFPB officer, I have contacted both your department & the company ( XXXX ) this month and I was being confirmed by the company, there had been NO credit reporting late for 30 days. Due to that, my credit went down to 128 points while I am in the process of refinancing another home.
Today, I have reported that XX/XX/2023 payment has been recorded late which is clearly NOT the correct case. I have sent screenshot of my credit monitoring page to show that later reported on my credit.
I therefore am asking you to remove this credit reporting from my credit. Thanks!
|
| Consumer Consent Provided |
Consent provided
|
|
|
5819321
|
2022-07-28
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
SERVICEMAC, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2022-07-28
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2022-07-28
|
| Company Public Response |
Company has responded to the consumer and the CFPB and chooses not to provide a public response
|
| Complaint What Happened |
Please cross reference this with complaint XXXX XXXX against XXXX.
I have a mortgage that was just transferred ( a second time by the way since the loan closed XX/XX/XXXX ) to ServiceMac on XX/XX/XXXX from XXXX Mortgage. XXXX had the loan transferred to them XX/XX/XXXX, so they held it about 4 months. The loan was originated through XXXX Bank -- and is a XXXX XXXX XXXX XXXX XXXX The property address is in XXXX XXXX XXXX. It is a rental condo unit and I do NOT reside there, I rent it. I have paid all of my loan payments on time since loan inception ( {$1300.00} principal and interest/ {$46.00} XXXX XXXX XXXX ). The total payment has been {$1400.00}. In addition, I voluntarily typically add {$500.00} per month in extra principal. My mortgage contains a mortgage escrow waiver addendum that does NOT allow the lender to pay property taxes or condo unit property/liability insurance. The only thing they can escrow is the XXXX unit flood insurance. My complaint is XXXX, communications are lacking and an escrow re-calculation that is improper. I am not receiving any communications about loan transfers since the loan keeps getting sold to different servicing companies. All 3 companies should be aware that I do NOT reside in the unit, and that I live in XXXX They were provided with my address and contact information at closing, in the loan closing documents. As an example, I signed up for auto pay in XX/XX/XXXX after I was unable to make my XXXX payment to XXXX. Through website trial and error, I finally discovered ServiceMac as my new loan servicer. Shortly after discovering ServiceMac was my new mortgage servicer, I signed up for the auto pay option which was for the {$1400.00} noted above, plus additional principal of {$500.00}, total payment {$1900.00}. Days later l received a notice XX/XX/XXXX that my new payment was {$2600.00}, plus additional principal {$500.00}, or {$3100.00}. No explanation was given for the change in monthly payment {$1400.00} to {$2600.00}. a whopping increase of {$1200.00}, or {$15000.00} annually. I called both servicers ServiceMac and XXXX and was told XXXX redid an escrow recalculation a mere week before they sold the loan to ServiceMac to service starting XX/XX/XXXX. They indicated they had to redo my escrow to account for my property taxes and insurance ( I informed them that I have a waiver of escrow included in my loan so I pay my own property taxes, my own condo unit homeowners policy, and I rely on my XXXX XXXX to pay for the building property and flood insurance ). The only thing ServiceMac and XXXX as mortgage assumers were authorized to escrow and pay ( barring my default/failure tor pay my tax/insurance obligations- which is NOT the case since this loan has only been in existence for 7 mos ), was the required XXXX condo unit flood insurance. As a requirement to close on the loan XX/XX/XXXX, that flood insurance was paid by me in full and that policy does not expire until XX/XX/XXXX. The escrow analysis sent to me by ServiceMac shows a flood insurance disbursement for {$3600.00} issued XX/XX/XXXX by XXXX, then an insurance refund of - {$2800.00}. This apparently resulted in a negative escrow balance for a payment that should never have been made. I was told this was a lender placed flood policy. I requested that the flood disbursement be credited back to my escrow account in full and I requested a copy of any bill or document that was used as a basis to justify this erroneous payment made from my mortgage escrow balance. I also requested an explanation as to how they came to the conclusion that increasing my monthly payment by {$1200.00} was justified. I also requested confirmation that prior months additional principal payments of {$500.00} were indeed credited to principal and nothing else. Instead of responding, I am receiving communications that ServiceMac blames XXXX, and XXXX has yet to respond to my requests.They answer the phone and say they want to help, but have no answers to provide. Despite having the flood insurance binders and in force policy information for both the condo unit and the XXXX XXXX flood policy at mortgage closing XX/XX/XXXX, and knowing that the current mortgage payment amount excludes taxes, excludes property insurance, and excludes the master flood, and that the unit flood does not renew until XX/XX/XXXX, they re-calculated the escrow improperly anyway and have thus far refused to refund and credit back to my escrow bank forced placed flood insurance. I also sent them the master unit flood renewal that my monthly condominium fees pay for through the master association. I view this as potential escrow miscalculation, and I do understand mistakes are made, but this is a substantial amount of money. How these changes can be made, even if they were a mistake, should have been noticed to me with an explanation, in addition to a 2nd mortgage servicing company transfer. How can you expect people to even know where they are to send their payments absent notice and explanation? Thank you.
|
| Consumer Consent Provided |
Consent provided
|
|
|
5254314
|
2022-02-23
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
SERVICEMAC, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2022-02-23
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2022-02-23
|
| Company Public Response |
Company has responded to the consumer and the CFPB and chooses not to provide a public response
|
| Complaint What Happened |
**BACKGROUND** I closed on this property on XX/XX/XXXX - my payment has been {$3100.00}, breakdown is as follows : XXXX XXXX XXXX : {$1700.00} Escrow : {$1300.00} - ( XXXX at $ XXXX and insurance at roughly {$120.00} p/m - {$1000.00} for tax as my loan was underwritten to pay about $ XXXX in true property tax ).
In XXXX the " True taxes '' were {$12000.00}. However, the town tax collector gave ServiceMac , LLC a tax bill iao {$4400.00}, as the previous owner 's " Aged '' exemption, in the amount {$5000.00} was applied to my XXXX tax bill by the Town. All this time, I have been paying my full mortgage payment, as broken down above.
In XXXX, my tax bill came and it was the " true tax '' amount, plus the {$5000.00} Aged exemption, as a pro-rata charge from XXXX, increasing my taxes to $ XXXX, temporarily, to pay back the prior year 's exemption.
I am a mortgage industry professional and understand how/why these things happen. The below is my issue with the servicer.
**ISSUE** ServiceMac has misplaced escrow funds in the amount of {$7400.00} when they should have had enough funds to cover the first and second tax payment for XXXX as I have been contributing {$1000.00} per month in taxes since the loan originated.
On XX/XX/XXXX XXXX XXXX, a Customer Resolution Specialist with ServiceMac , LLC advised : " When the account transferred to us the balance was {$5100.00}, but an initial error occurred that resulted in the balance showing {$12000.00}. The disbursement of {$7400.00} was to correct the escrow balance. '' - - - XXXX is incorrect. I had been paying {$1000.00} a month in tax escrows and ServiceMac only paid the taxes in the amount of {$4400.00} for XXXX, as well as having an escrow balance of over $ XXXX when the loan originated. There should have not been any adjustment to the escrow balance.
As per the ServiceMac 's pay history - When I made my XX/XX/XXXX mortgage payment - my escrow balance was {$12000.00}. On XX/XX/XXXX - the loan service transferred to ServiceMac - XXXX XX/XX/XXXX there was an escrow adjustment in the amount of {$7400.00}, which then adjusted my escrow balance down to {$5100.00}. This was the servicer 's admitted error for which they have not corrected and subsequently raised my monthly payment by almost a thousand dollars.
Additionally, ServiceMac sent me a {$5800.00} check and then canceled it with no notice - you will see this accounting error on the payment history. No remaining issue, other than negligent accounting practice.
The attachments will show the correspondence with XXXX XXXX, as well as a complete payment history for the life of the loan. I have also attached the town 's tax bills as reference.
|
| Consumer Consent Provided |
Consent provided
|
|
|
7064237
|
2023-06-02
|
Incorrect information on your report
|
Credit reporting, credit repair services, or other personal consumer reports
|
|
| Tags |
Servicemember
|
| Issue |
Incorrect information on your report
|
| Timely |
Yes
|
| Company |
SERVICEMAC, LLC
|
| Product |
Credit reporting, credit repair services, or other personal consumer reports
|
| Sub Issue |
Account status incorrect
|
| Sub Product |
Credit reporting
|
| Date Received |
2023-06-02
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-06-02
|
| Company Public Response |
Company has responded to the consumer and the CFPB and chooses not to provide a public response
|
| Complaint What Happened |
I just checked my XXXX credit report & it is showing the Mortgage account owned by Servicmac are 60 Days Payment late. This is not correct, and I am attaching my bank statement to show that the account was never " 60 days Late ''. This incorrect credit reporting is now hurting my score and went down XXXX points.
|
| Consumer Consent Provided |
Consent provided
|
|
|
6720794
|
2023-03-20
|
Applying for a mortgage or refinancing an existing mortgage
|
Mortgage
|
|
| Tags |
Servicemember
|
| Issue |
Applying for a mortgage or refinancing an existing mortgage
|
| Timely |
Yes
|
| Company |
SERVICEMAC, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2023-03-20
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-03-20
|
| Company Public Response |
Company has responded to the consumer and the CFPB and chooses not to provide a public response
|
| Complaint What Happened |
Dear Investigation officer, I have been paying mortgage from the same bank account for last 1 year and the money was available, but the payment was bounced & marked for 30 days late. I have reached out to the company & they have given me a runaround for the last 3 weeks without any satisfactory answer. I have submitted to show the bank statement that the money was available but as of now there is no result.
|
| Consumer Consent Provided |
Consent provided
|
|
|
7845704
|
2023-11-13
|
Applying for a mortgage or refinancing an existing mortgage
|
Mortgage
|
|
| Issue |
Applying for a mortgage or refinancing an existing mortgage
|
| Timely |
Yes
|
| Company |
SERVICEMAC, LLC
|
| Product |
Mortgage
|
| Sub Issue |
Negative impact of inaccurate appraisal
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2023-11-13
|
| Submitted Via |
Web
|
| Company Response |
Closed with monetary relief
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-11-13
|
| Company Public Response |
Company has responded to the consumer and the CFPB and chooses not to provide a public response
|
| Consumer Consent Provided |
Consent not provided
|
|
|
6724780
|
2023-03-20
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
SERVICEMAC, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2023-03-20
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-03-20
|
| Company Public Response |
Company has responded to the consumer and the CFPB and chooses not to provide a public response
|
| Complaint What Happened |
{$10000.00} was withdrawn from our escrow account on XX/XX/XXXX to pay school tax by Servicemac. Despite the fact that we paid this money into our escrow on time and it was removed from the account by servicemac, they failed to send this money to the tax office. I was informed of servicemac 's failure to deliver the tax funds by the tax office via mail on XX/XX/XXXX and on the same day contacted both the tax office and servicemac. This communication was made via phone and email.
The tax office confirmed that the money withdraw from our escrow account was never paid to them by servicemac and this resulted in a late payment penalty.
On XX/XX/XXXX I received notice via email from servicemac that they acknowledged that the tax payment was never sent to the tax office despite the fact that this money was withdrawn from our escrow. Please see the email copied in full from servicemac below.
" Good afternoon XXXX, Thank you for your email. Good news! Progress is being made regarding the payment of the delinquent taxes.
We are in receipt of the tax letter you attached and have uploaded it to your account. Please know we have verified with the taxing authority that they have not received payment for the taxes from XXXX. We also confirmed the delinquent base amount is {$10000.00}, and a penalty in the amount of {$1000.00}, making the total payoff amount of {$11000.00}. Please know the penalty of {$1000.00}, is being paid by ServiceMac.
Please be advised the tax payment is being sent to the Receiver of Taxes in the form of a check via XXXX. The XXXX tracking number is XXXX XXXX XXXX. Please know the taxes have been updated on the account and an escrow analysis will be completed to update the payment.
I sincerely apologize for the inconvenience and frustration this matter has caused.
Please know we appreciate your business and value you as a customer. I hope you have a great weekend!
Warm Regards, XXXX '' On XX/XX/XXXX servicemac withdrew an additional {$10000.00} from our escrow account claiming that this was to pay the XXXX taxes even though they had already withdrawn {$10000.00} for XXXX taxes on XX/XX/XXXX and never sent it to the tax office. Furthermore, servicemac canceled the XXXX shipment and did not send the check to the tax office as they indicated they would do in the above email. At this point, Servicemac has withdrawn {$20000.00} from our escrow and all of this money is missing. They have not paid any money to the tax office. The amount that was suppose to be paid in XXXX is {$10000.00}. Again they withdrew this amount twice from our escrow and did not send any of this money to the tax office. At this point the money has been taken by servicemac and is missing.
We have made all mortgage and escrow payments in full and on time. The money was fully available in the escrow account funded by us to pay the taxes. Servicemac took the money out of the account and now {$20000.00} of our money is unaccounted for and our taxes have still not been paid.
Servicemac has been grossly incompetent or fraudulent in the management of our escrow.
We paid the money to them on time and despite the fact that they removed the money from our account, never paid the taxes. Having the escrow managed by servicemac is a liability as their carelessness has resulted in the delayed payment of taxes and resulting late fees. Furthermore, despite notifying them of this issue they have failed to rectify it in a timely fashion and now have taken double the amount of tax due from the escrow and still have not paid the taxes. In addition, they have repeatedly lied and even went so far as to give me a Fed ex tracking number which was suppose to be a shipment with the check to pay the taxes and then canceled the shipment without notice.
|
| Consumer Consent Provided |
Consent provided
|
|
|
6440259
|
2023-01-15
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
SERVICEMAC, LLC
|
| Product |
Mortgage
|
| Sub Product |
FHA mortgage
|
| Date Received |
2023-01-15
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2023-01-16
|
| Company Public Response |
Company has responded to the consumer and the CFPB and chooses not to provide a public response
|
| Complaint What Happened |
We closed in the purchase of our home i XXXX, XXXX. Since then our loan servicer has changed twice. We are required to escrow our property taxes, PMI, school taxes and home owners insurance. In XXXX XXXX New York our school taxes are due XX/XX/2022. Our taxes went unpaid, in the amount of : {$3100.00}. They were not paid as of XXXX XXXX so i called customer service and was assured it was an oversight and they would be paid. In XXXX we received our property taxes, now, including the school taxes and late fees, and our property taxes which are approximately {$890.00}. I again notified our mortgage Company. Who paid both the school- which will be rejected- because the taxes are included on the property tax. I have several issues : 1. I contacted the loan servicer by email, phone and no one understands what im talking about. 2. i should have to pay late fees that were the fault of the servicer. 3. I have received zero explanation 4. Now, because they dont understand how taxes should work, they have over escrowed us by {$5000.00} for the XXXX year-and thats not correct. It increases my monthly payment and will directly influence my ability to pay.
|
| Consumer Consent Provided |
Consent provided
|
|
|
5819374
|
2022-07-28
|
Trouble during payment process
|
Mortgage
|
|
| Issue |
Trouble during payment process
|
| Timely |
Yes
|
| Company |
SERVICEMAC, LLC
|
| Product |
Mortgage
|
| Sub Product |
Conventional home mortgage
|
| Date Received |
2022-07-28
|
| Submitted Via |
Web
|
| Company Response |
Closed with explanation
|
| Consumer Disputed |
N/A
|
| Date Sent To Company |
2022-08-16
|
| Company Public Response |
Company has responded to the consumer and the CFPB and chooses not to provide a public response
|
| Complaint What Happened |
I have a mortgage that was just transferred ( a second time by the way since the loan closed XX/XX/XXXX ) to ServiceMac on XX/XX/XXXX from XXXX XXXX. XXXX had the loan transferred to them XX/XX/XXXX, so they held it about 4 months. The loan was originated through XXXX XXXX -- and is a XXXX XXXX XXXX product . The property address is in XXXX FL XXXX. It is a rental condo unit and I do NOT reside there, I rent it.
I have paid all of my loan payments on time since loan inception ( {$1300.00} principal and interest/ {$46.00} flood insurance escrow ). The total payment has been {$1400.00}. In addition, I voluntarily typically add {$500.00} per month in extra principal. My mortgage contains a mortgage escrow waiver addendum that does NOT allow the lender to pay property taxes or condo unit property/liability insurance. The only thing they can escrow is the Condo unit flood insurance.
My complaint is 2-fold, communications are lacking and an escrow re-calculation that is improper.
I am not receiving any communications about loan transfers since the loan keeps getting sold to different servicing companies. All 3 companies should be aware that I do NOT reside in the unit, and that I live in NY. They were provided with my address and contact information at closing, in the loan closing documents. As an example, I signed up for auto pay in XX/XX/XXXX after I was unable to make my XXXX payment to XXXX. Through website trial and error, I finally discovered ServiceMac as my new loan servicer. Shortly after discovering ServiceMac was my new mortgage servicer, I signed up for the auto pay option which was for the {$1400.00} noted above, plus additional principal of {$500.00}, total payment {$1900.00}. Days later l received a notice XX/XX/XXXX that my new payment was {$2600.00}, plus additional principal {$500.00}, or {$3100.00}. No explanation was given for the change in monthly payment {$1400.00} to {$2600.00}. a whopping increase of {$1200.00}, or {$15000.00} annually.
I called both servicers ServiceMac and XXXX and was told XXXX redid an escrow recalculation a mere week before they sold the loan to ServiceMac to service starting XX/XX/XXXX. They indicated they had to redo my escrow to account for my property taxes and insurance ( I informed them that I have a waiver of escrow included in my loan so I pay my own property taxes, my own condo unit homeowners policy, and I rely on my XXXX XXXX to pay for the building property and flood insurance ). The only thing ServiceMac and XXXX as mortgage assumers were authorized to escrow and pay ( barring my default/failure tor pay my tax/insurance obligations- which is NOT the case since this loan has only been in existence for XXXX mos ), was the required XXXX condo unit flood insurance. As a requirement to close on the loan XX/XX/XXXX, that flood insurance was paid by me in full and that policy does not expire until XX/XX/XXXX. The escrow analysis sent to me by ServiceMac shows a flood insurance disbursement for {$3600.00} issued XX/XX/XXXX by XXXX, then an insurance refund of - {$2800.00}. This apparently resulted in a negative escrow balance for a payment that should never have been made. I was told this was a lender placed flood policy. I requested that the flood disbursement be credited back to my escrow account in full and I requested a copy of any bill or document that was used as a basis to justify this erroneous payment made from my mortgage escrow balance. I also requested an explanation as to how they came to the conclusion that increasing my monthly payment by {$1200.00} was justified. I also requested confirmation that prior months additional principal payments of {$500.00} were indeed credited to principal and nothing else. Instead of responding, I am receiving communications that ServiceMac blames XXXX, and XXXX has yet to respond to my requests.They answer the phone and say they want to help, but have no answers to provide. Despite having the flood insurance binders and in force policy information for both the condo unit and the XXXX XXXX flood policy at mortgage closing XX/XX/XXXX, and knowing that the current mortgage payment amount excludes taxes, excludes property insurance, and excludes the master flood, and that the unit flood does not renew until XX/XX/XXXX, they re-calculated the escrow improperly anyway and have thus far refused to refund and credit back to my escrow bank forced placed flood insurance. I also sent them the master unit flood renewal that my monthly condominium fees pay for through the master association.
I view this as potential escrow miscalculation, and I do understand mistakes are made, but this is a substantial amount of money. How these changes can be made, even if they were a mistake, should have been noticed to me with an explanation, in addition to a 2nd mortgage servicing company transfer. How can you expect people to even know where they are to send their payments absent notice and explanation?
Thank you.
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Consent provided
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