Consumer complaint received 2022-06-04
Company: Freedom Mortgage Company
State: TX
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Question? I am not sure if I am required to include the loan # and based on my cybersecurity expertise. I would rather submit sensitive data differently. 

XXXX XXXX I closed on the property located at XXXX XXXX XXXX, XXXX, TX XXXX. The Loan and CD was done by XXXX XXXX XXXX XXXX XXXX address : XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, TX XXXX Phone : ( XXXX ) XXXX EM : XXXX NOTE : I will send a separate complaint about them. TAs they did not give 3 business days to review the XXXX and why I missed these issues in the XXXX place. I will also be filing XXXX complaints with the XXXX  XXXX. of XXXX & XXXX. ( the XXXX were handled poorly by a retiring staff member ) On or Before XX/XX/XXXX the SERVICER became Freedom Mortgage Corporation Address : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NJ, XXXX United States XXXX XXXX ( XXXX ) XXXX Website : www.freedommortgage.com This complaint is with the Mortgage Servicer the took over servicing the loan 5 business days later.

1. This was new construction and I didn't put 20 % down.

( So I guess they call that " forced escrow ''. ) 2. There was no PMI or XXXX in the loan. ( key for pushback to terminate escrow ) 3. KEY POINT - The property taxes & yearly assessments come from XXXX XXXX XXXX XXXX, TEXAS ( XXXX XXXXXXXX XXXX XXXX ) - they do not send collect taxes and the taxes are not due until XX/XX/XXXX of the following fiscal year. EXAMPLE : XXXX XXXX XXXX - Taxes XXXX XX/XX/XXXX XXXX. Freedom Mortgage - after taking over without my knowledge- they did not contact me at all - until they said I was late on a payment in XXXX KEY SIDE NOTES : *** XXXX XXXX XXXX ( XXXX ) committed to help adjust the " escrow amount '' after the FIRST XXXX XXXX XXXX XXXX. SINCE IT WAS NEW CONSTRUCTION and the escrow amount wasn't enough but we had no idea yet ) *** Will address the XXXX  issues in a separate complaint. 
- XXXX XXXX XXXX one from Freedom Mortgage contacted me to adjust escrow - They just sent a letter in XXXX of XXXX AFTER paying the taxes in Early XX/XX/XXXX without my knowledge. 60 days early.!!! DUE XX/XX/XXXX - Letter was received XX/XX/XXXX- The yearly Escrow Analysis never includes XXXX - The yearly Escrow Analysis is off sync with my TAX PAYMENT DUE DATE - They refuse to allow me to set-the date ( last 5 years )- They pay the XXXX XXXX XXXX days early as well 5. Then they send a HUGE escrow shortage estimate. I received 3 month into XXXX XXXX. 
{$12000.00} + 6. Then I agree to pay the " shortage in stretch payments '' they say will catch it up 7. Then they do it again - Pay the taxes in XX/XX/XXXX that aren't due until XX/XX/XXXX - AND pay my XXXX INSURANCE 60-90 days - so how would I even review the policy ** not sure when I gave them power of attorney to review, accept and pay my insurance policies- they continue to do this for 5 years- always a higher Shortage every year - refuse to change the pay date - if they set the pay date by the original date- I NEVER spoke to anyone - agreed to the pay date or even knew they paid - plus the XXXX 's are not correct- if got an IRS AUDIT - the Tax Bills Say XX/XX/XXXX and the IRS would flag XXXX saying you paid it the previous year to get the tax break in the wrong year. 

8.Then I try to terminate Escrow and they deny my request - saying I am not 80 % XXXX of the original Appraised Value at the time of sale. 
- BUT that's a PMI/LMPI rule for FHA loans XXXX Right? 
- I offered to get a new appraisal - they didn't respond - as understand it - this type loan - does NOT require escrow anyway - - the Lender- NOT the servicer asks for this condition in Higher Price loans- PLUS my house 's value is at least $ XXXX and I owe $ XXXX so this is bogus. 
- But they would surely take the current value for a REFI Which bring me to my last point. 

NOTE : I have spent XXXXXXXX XXXX XXXX XXXX XXXX XXXX  and dealt with every scam - Ponzi scheme. etc. So for 5 years been scratching my head as to why would they inflate " escrow accounts '' and never allow a customer to catch up .. HMMM XXXX. OK here goes - my suspicion of predatory Bank Practices - They do a yearly ESTIMATE! but they hold me to the AMOUNT - They have my/everyone 's complete credit information - They have advanced financial modeling and analytics software - They service XXXX XXXX Loans and they are " One of the nations largest non-bank mortgage lenders/servicers '' - They have to drive year over year revenue growth *** SO - They do the following - Inflate escrow accounts just enough to drop their customers credit scores a tier *** by stripping their liquidity with the BLOATED ESCROW i.e. the money they used to pay down monthly credit cards - then when the yearly assessments go out- they do a blitzkrieg REFI CAMPAIGN to they Loan Servicing Customers *** to REFI and FIX the perpetual shortage *** at a higher % rate because of their lower credit scores They have made my shortage higher every year- I paid what they told me should have caught it up after 5 years. The taxes and home owners insurance haven't increased 250 % every year. They have fluctuated maybe $ XXXX. ( only {$75.00} a month ) Every year when I get the Yearly Estimate- with a a higher shortage. I get pounded by calls, texts, and emails about a REFI! How can I pay what they say will rectify the shortage and NEVER be caught up - FOR FIVE YEARS ... I did the math - because they are either inept or their doing it on purpose. No other option.. 

I have stacks of docs over the last 5 years and will wait for you to tell me which ones you would like me to submit Lastly- I need to fix this ASAP - as I need to sell my house and buy another one ..and as I explained. They stripped my liquidity and I could have paid {$10000.00} towards debt each year... which my credit score would still be TOP TIER.

Please help

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation