Product: Mortgage

I am writing to document several issues with my mortgage ( account XXXX ) while it was serviced by The Money Source ( TMS ), and lack of resolution on their part for two months after they transferred servicing. 

On XX/XX/2020, we received noticed from XXXX XXXX  informing us that the servicing of our mortgage would transfer to them from The Money Source effective XX/XX/2020. We received no notice of this change from TMS. In addition, we did not receive a statement/bill for XXXX payment from TMS. 

Upon receipt of the letter from the new servicer, we made the XXXX payment to XXXX XXXX. In addition, we went online to the TMS website to cancel our payment. However, in attempting to log in to the TMS platform, the system displayed a notice that our account was no longer valid. Given the error message that the account XXXX no longer existed, we made the logical conclusion that they canceled the previous scheduled payment. On XX/XX/XXXX, the XXXX XXXX  appropriately withdrew the XXXX payment. On XX/XX/XXXX, TMS inappropriately withdraw {$460.00} ( equivalent to a months payment ). 

On the morning of XX/XX/XXXX, after several aborted calls due to extremely long hold times, I spoke with TMS Customer Care agent XXXX and informed her of the unauthorized withdrawal by her company. XXXX request that I email her a evidence of the inappropriate withdrawal, which I provided. XXXX told me that the payment would be forwarded to the new servicer. Given the payment was not authorized, I requested a refund, that the refund be expedited, sent electronically, and that the refund included a goodwill payment or interest for the time the money was improperly held. I was then told that I would receive a call back prior to the end of the day with an update on my request. I received no such call back. 

On XX/XX/XXXX and XX/XX/XXXX, I sent follow up emails asking for an update and received no response beyond an automated email confirming receipt. 

On XX/XX/XXXX, I spoke with TMS Customer Care agent XXXX about my situation. Upon reviewing the notes on my account, XXXX informed me that they had no record of a refund request being submitted. I then asked to speak with a manager. After several minutes of holding, I was told that no managers were available and that one could call me back within 24-48 hours, which I stated was unacceptable and that I would continue to wait. After greater than 30 minutes of waiting, I was finally connected to a manager, XXXX. 

In speaking with XXXX, he noted that TMS system showed that I had been mailed statements in XXXX, XXXX, and XXXX, as well as a transfer of servicing letter on XX/XX/XXXX. None of these 4 documents ever made it to our mailbox. In addition, the mortgage was not finalized until XX/XX/XXXX, so no XXXX statement would have been mailed. XXXX then told me the servicing was not transferred until XX/XX/XXXX, that TMS had forwarded the payment at that time, and therefore could not issue me a refund. 

On XX/XX/XXXX, I finally received an email response from TMS, which stated that they saw I had called and been taken care of. I promptly responded noting that the issue had not been resolved and requested evidence of the wire transfer from TMS to XXXX. 
On XX/XX/XXXX, I sent another email to TMS following up on my request and received a response on XX/XX/XXXX which noted We are still working on a resolution. We should have an update from our boarding team very soon. 

On XX/XX/XXXX, I followed up again via email and asked for resolution no later than XX/XX/XXXX. This request went unanswered. 

On the evening of XX/XX/XXXX, I sent an additional follow up. This request also went unanswered. 

On XX/XX/XXXX, I sent an additional follow up. I received a response on XX/XX/XXXX, which provided clarification on Escrow Refunds. This was irrelevant to the issue and further, there is no escrow on the loan. I responded same day, reiterating the request for documentation of the wire transfer from TMS to XXXX. 

On XX/XX/XXXX, I sent a final email noting that we would pursue legal action against TMS if the issue is not resolved in the short term. 

On XX/XX/XXXX, I called and spoke with TMS Customer Care agent XXXX, who was helpful but unfortunately provided no good information. XXXX informed me that TMS had withdrawn the money from my account, but had no record of where the money currently was. 

I then found the contact information for XXXX XXXX at The Money Source on their XXXX page, where she had invited people who had posted issues to contact her directly. XXXX did call me back that day, and the following week we connected and she noted that the transfer had finally been made to XXXX XXXX. 

The money ultimately was not reflected within our account at XXXX until XX/XX/XXXX, a full two months after it was inappropriately withdrawn. In summary, TMS made an unauthorized withdrawal from our account, held it hostage for two months, and did not mail a transfer notice as required, nor monthly statements.