Consumer complaint received 2023-04-24
Company: NEW YORK COMMUNITY BANCORP INC
State: TX
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
For the XXXX  year, the servicer ( Flagstar ) miscalculated the escrow for the property. Starting in XXXX of XXXX, a new monthly payment was to start, to remedy the {$5600.00} shortage from XXXX. I was notified by mail after XX/XX/XXXX of the new schedule for XXXX. I make every payment for this mortgage approx 2 weeks prior to the due date ( 1st of every month ). Ex, payment for XX/XX/XXXX was sent directly from my bank around XX/XX/XXXX. Every payment for this loan has been done in this manner since the start. My payment for XX/XX/XXXX was applied correctly because the new amount was not started until XXXX of XXXX. My bank sent the payment for XXXX, on or about XX/XX/XXXX in the amount of {$1600.00} ( old amount before the deficiency ) because I did not receive notice of the new amount until after XX/XX/XXXX. The {$1600.00} payment was applied, but in such a way that shows I am delinquent every month. I was notified in XXXX that I was deficient and this was going to collections. I called Flagstar and was connected to their collections dep. They were able to identify that the deficiency did not start until XXXX. I explained the problem and we were able to find a {$450.00} deficiency in the amount they received for the XXXX payment and the one that was actually owed. I agreed and sent the additional funds so that I may be caught up and resume the {$2000.00} payment every month and not be considered late. Since this conversation and the additional funds sent, the problem has persisted and I am forced to contact Flagstar every month, talk to a new collections person ( XXXX was the last on XX/XX/XXXX ) and explain everything over. They take their time in tracing the payments and reluctantly admit that they misapplied the additional {$450.00} payment to catch everything up to the principal, and still show the FULL payment as late every month. Every month since XXXX, the payment I send on or about the XXXX gets applied to the same month it is sent, rather than the following month as it is intended. I HAVE NOT MISSED ANY PAYMENTS SINCE THE START OF THIS MORTGAGE. According to all the conversations with their collections department, no payment has been identified as missing. The only problem with any of the payments was the shortage for XX/XX/XXXX and was due to the late notification from Flagstar. I have since paid the extra {$450.00} to bring the account current and this was applied incorrectly. I receive no compensation for my time and effort every month when I have to call and effectively do their job for them. It is only a matter of time before they start reporting to the credit agencies that my payments are late and ultimately have a negative effect on my score. The incompetence shown regarding this issue is creating undue stress and is very time consuming for me, as well as generating more income for Flagstar in late fees assessed by them for their own neglect.

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