Consumer complaint received 2019-01-18
Company: Capital Markets Cooporative, LLC
State: WI
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Our loan was bought officially in XX/XX/XXXX from another lender. We had {$4100.00} in our Escrow per Closing Disclosure. When this lender took over the loan our escrow balance was only at {$720.00}. This is because previous lender sent 2 wires of money to this lender from our escrow to cover our estimated XXXX taxes which was {$3800.00}. So our initial Escrow of {$4100.00} + {$390.00} ( XXXX Escrow payment ) - {$37.00} ( Mortgage Insurance ) - {$3800.00} ( amount this lender received in wire transfers ) equals the {$720.00} Escrow Amount per the " Initial Escrow Amount Disclosure Statement '' that this lender has on file. The problem is that this lender never credited that {$3800.00} that they received in money wires from old lender from our Escrow account to cover estimated XXXX taxes. 

This resulted in old lendre paying XXXX taxes ( {$3700.00} was actual amount paid ) which put our Escrow account in the negative. This lender claimed to have " borrowed '' us money to cover XXXX taxes. Then it was not until XX/XX/XXXX that they increased our Mortgage Payments to {$1700.00} to make up for Escrow Payments. We called this lender regarding the missing money. We were told a note would be made along with a ticket being created and a Supervisor call back. None of the above was ever done. When we went to pay our XX/XX/XXXX Mortgage Payment we paid our normal {$1500.00} ( Technically paid {$1600.00} even ) it was considered an additional principal payment due to not covering the new {$1700.00} due balance. When I called regarding the missing payment I was informed of what happened by a teller. He was helpful in reversing the payment so it would be put towards the monthly mortgage and I had to pay to additional {$170.00} over the phone. I had explained we had a ticket in regarding the missing escrow. He said he could not change anything, only could write a note in our file. We now have a late mortgage payment in our history. 

From XX/XX/XXXX through now we have been paying the additional amount of money to cover Escrow. It has caused financial and emotional stress on my entire family. And since XX/XX/XXXX we have been calling this lender to try and get the issued resolved. We have never received a call back from a Supervisor. We have to re-explain the entire situation to every Teller that takes our call. Multiple tickets have been opened and supposedly resolved. Now this lender has paid our XXXX taxes and again put our Escrow in the negative because they refuse to acknowledge or credit our Escrow account the {$3800.00} that old lender wired them back in XXXX and XX/XX/XXXX. 

We contacted our old lender who provided us with all the proof of wires they sent to this lender from our escrow to cover our XXXX taxes. 

On XX/XX/XXXX this lender requested a total of {$13000.00} from old lender for 4 different loans to go towards escrow. Loan # 1 ( {$1400.00} ), Loan # 2 ( {$6700.00} ), Loan # 3 ( {$2000.00} ) and our loan ( XXXX ). On XX/XX/XXXX old lender wired that amount. 

On XX/XX/XXXX this lender requested a total of {$870.00} from old lender for XXXX different loans to go towards escrow. Loan # 1 ( {$190.00} ), Loan # 2 ( {$280.00} XXXX and our loan XXXX {$390.00} ). On XX/XX/XXXX old lender wired that amount. 

We want our money back, our mortgage payments readjusted to previous amount and for the late payment to be removed so it doesn't effect our credit or ability to remove PMI.

Company response to consumer: Closed with explanation