Consumer complaint received 2021-04-17
Company: PENNYMAC LOAN SERVICES, LLC.
State: CA
Product: Mortgage
Sub-product: FHA mortgage
Issue: Trouble during payment process

Complaint:
XX/XX/XXXX Escrow Account Disclosure Statement : Requested hard copy Escrow Statement was not received after multiple calls requesting for a copy to be mailed. Every year, I had to make requests to receive hard copy Escrow Statement, however, there were always difficulties to receive these documents upon request.

Escrow paid Homeowner Insurance Premium {$1000.00} on XXXX, XXXX, however, I was charged {$1100.00} from Penny Mac and I paid on XX/XX/XXXX. I was forced to overpay {$32.00} without explanation and was not indicated in any Escrow Analysis Statement to calculate actual escrow balance.

Escrow Analysis History was not correct. I paid {$1500.00} is not reflected in last year Escrow Analysis Statement or any other Escrow Analysis Statement. Escrow Analysis Statement indicated {$1500.00}. There was an error of {$1.00} not explanation and was not indicated in any Escrow Analysis Statement to calculate actual escrow balance. 
Every Escrow Analysis Statement contain constant errors in recording actual Begin Escrow Balance. 

Request : 1. Requesting actual escrow account breakdown to account for the actual payments in every year payments of months of XXXX, XXXX, XXXX and XXXX. 
2. Need to calculate accurate Reserve Escrow Balance 3. Need to revise Escrow Analysis Statement 4. Requesting to receive hard copy Escrow Statement generated on XX/XX/XXXX. 
5. Requesting to receive revise hard copy Escrow Statement to be generated. 

Reasons : These four months are the transition period where the Homeowner Insurance changes to account of new Homeowner Insurance Carriers. 
These four months are the transition period where as recently as XX/XX/XXXX, where requests from me made to remove monthly default reserve. 
These four months are not accurately recorded in the previous year or the following year Escrow Analysis Statements. 


XXXX, XXXX Escrow Account Disclosure Statement : This year, PENNYMAC LOAN SERVICES , LLC made the changes, I pro-actively requested, however, on my XXXX, XXXX mortgage bill and online payment system, they AGAIN revert back to the original old, faulty increased amount which was concurred by PENNYMAC LOAN SERVICES , LLC that they will adjust and reduce. 
It is extremely time consuming and painstaking to keep track, reach their representative on phone and request these changes repeatedly. 

every year, i call and get the ecrow analysis revised because of errors such as added reserve to escrow etc. I am monitoring, tracking and reporting since XXXX. 
since last year PENNYMAC LOAN SERVICES , LLC moved the escrow analysis date and forced me to pay additional amount in their every year increase in the month of XXXX an d onwards. i have to be pro-active to make sure 1. i request escrow analy sis 2. PENNYMAC LOAN SERVICES , LLC do not send hard copy of escrow analysis even after i repeatedly requested. 3. i have to find errors and request every year to revise the escrow analysis i need to make sure PENNYMAC LOAN SERVICES , LLC correct their ways of conducting business with transparency and disclose information in timely manner. i request PENNYMAC LOAN SERVICES , LLC to revise once and for all their method of calculating escrow analysis to avoid this ongoing yearly challenge.

Company response to consumer: Closed with explanation