Consumer complaint received 2020-12-19
Company: LD Holdings Group, LLC
State: AZ
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Loandepot, I don't understand why you couldn't help me the first 6 times I asked, I gave you every chance to prevent this complaint. 


On Saturday, XX/XX/XXXX I realized I was being over charged on my mortgage by {$130.00}. I reached out to the loan servicing department via email to get this resolved. 

Below you will find the exact correspondence between XXXX, XXXX representatives & I. 

I received a response via email from XXXX XXXX XXXX Tuesday, XX/XX/XXXX saying " Hello, I apologize, it appears that at closing taxes were at a higher projected amount possibly because the previous owner had an exemption. I show that we have updated the projected tax lines to show the correct amount that has been paid. I will send this request to our main servicing center to have the monthly payment updated. 

Thank you, '' At this point, I figured the issue was resolved however that wasn't the case when I received my mortgage statement on XX/XX/XXXX for the XXXX payment reflecting no changes to my monthly payment. 
There was a refund check issued to me for the overage in the account but if the payment doesn't change I will continue over paying and just be in the same spot I am now. 

On Thursday, XX/XX/XXXX I sent a message to loandepot on the online servicing website saying " It has occurred to me I am overpaying on my escrow account by {$130.00} per month. 

Let me know what part of my calculation below is incorrect or reduce my monthly payment accordingly and issue a escrow refund check of the overage ASAP. 

{$440.00} monthly escrow payment X 12 months = {$5300.00} {$77.00} monthly homeowners insurance policy X 12 = {$920.00} {$130.00} monthly private mortgage insurance X 12 = {$1500.00} {$95.00} monthly property taxes X 12 months = {$1100.00} {$5300.00} {$920.00} - {$1500.00} {$1100.00} = {$1600.00} annual overcharge / 12 = {$130.00} overcharged per month '' I also followed up on the email correspondence on Thursday, XX/XX/XXXX sending the following message via email directly to XXXX XXXX XXXX XXXX at loandepot. XXXX XXXX " XXXX & loanDepot, Escalate this email to your manager to take action and rectify this error immediately. 
XXXX manager, if you cant make the changes requested below, escalate to your supervisor to call me and discuss XXXX. 

Send a new mortgage statement reflecting the correct total monthly payment and remove the {$30.00} payoff statment prep fee. 

The XXXX payment was not updated and I was once again over charged by {$130.00} for the 5th time. 
The mortgage statement for the payment due XX/XX/XXXX does not reflect any changes either. 
It does however reflect a refund check of {$700.00} but thats not the main issue at hand here. 

I shouldnt have to keep following up about this and wasting my time for your error and failure to make the correct updates after I brought this up the first time. 

I attempted to resolve this matter on the phone just now however, after waiting for 25 minutes on hold, the person who picked up couldnt even speak proper XXXX, let alone assist me. 

I understand loanDepot is growing fast and everyone is busy but I really expected your hiring requirements to be more than checking for a pulse. 

Regards, '' After 5 days with no response, on Tuesday, XX/XX/XXXX I followed up with another email this time including To : XXXX XXXX XXXX ; XXXX ; Customer Care XXXX ; Compliance XXXX ; XXXX XXXX XXXX ; XXXX XXXX XXXX ; Servicing XXXX Cc : Servicing XXXX ; XXXX ' XXXX saying " loanDepot, I can and will not continue to be neglected and overpay on my mortgage. Your lack of response and action has me in a position with limited options. 

If I do not hear back from someone, today XX/XX/XXXX by XXXX PST. my next action will be to file complaints with the CFPB, XXXX and Arizona Department of Financial Institutions. 

For those unfamiliar with the matter, review the email correspondence below to get caught up. 

Regards, '' Within 1 hour, I received a quick response from XXXX XXXX XXXX saying " Hello, I have escalated this issue and I am currently awaiting a response, which I should have shortly. The taxes were disbursed iao {$570.00}. I have requested first that the payment be reflecting that amount in the monthly payment. I will keep you updated with the information I receive. 

Thank you, '' I have yet to hear anything from XXXX XXXX as of today XX/XX/XXXX. 

On XX/XX/XXXX I received a response from XXXX XXXX on the online servicing message portal to my message sent XX/XX/XXXX referenced above. The response said " Dear XXXX XXXX, Thank you for your recent email regarding your escrow account. According to our records, your escrow review was processed on XX/XX/XXXX. We have different tax amounts than you. 
PMI XXXX XXXX XXXX XXXX XXXX TOTAL XXXX XXXX XXXX R.E. TAX XXXX XXXX XXXX R.E. TAX XXXX XXXX XXXX HAZARD XXXX XXXX XXXX XXXX XXXX XXXX Effective XX/XX/XXXX your premium is {$1700.00}. 

Did you know? You can sign up for email notifications on your account.? My Notifications? is a notification service that will notify you when your monthly payment has been received, taxes have been paid ( if applicable ) and when your insurance premium has been disbursed ( if applicable ). 

To sign up/enroll in? My Notifications? and take advantage of the services it has to offer, simply click? Starting now, we? d like to give you less? from the Dashboard. 

If you have a question and would like to speak with a representative, you can initiate a Chat session by? Live Chat? or send a secure message by selecting? Ask a Question?. 

Thank you for giving us an opportunity to be of service to you. 

Sincerely, XXXX XXXX '' This is conflicting information from XXXX XXXX 's initial response saying " I apologize, it appears that at closing taxes were at a higher projected amount possibly because the previous owner had an exemption. I show that we have updated the projected tax lines to show the correct amount that has been paid. I will send this request to our main servicing center to have the monthly payment updated. '' Today XX/XX/XXXX, I responded to XXXX on the online portal asking for a copy of the bill she is using to get that information.

Company response to consumer: Closed with explanation