Consumer complaint received 2024-01-29
Company: RoundPoint Mortgage Servicing LLC
State: SC
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process
Sub-issue: Payment process

Complaint:
I have recently called and requested corrections made to both the escrow account and the 30 day late payment reported on my credit history. The credit dispute was denied by RoundPoint recently, and I feel this was made in error as you will see in the chronological information provided below. There were payments incorrectly applied to the principal which did not correctly reflect the monthly payments made due to this error. We had this corrected once and communicated by phone frequently, but the issues were never resolved completely which resulted in the inappropriate reporting of a late payment and the recent denial of my credit dispute. 

Additionally, there have been issues with accounting of the escrow balance that remain unresolved despite several calls to have it fixed. Part of the issue with late payments occurred when the escrow was recalculated and the amount due changed by about {$40.00}. The escrow was incorrect because the property taxes were not paid correctly. We had written a will in XXXX and our property was made part of a trust at that point which resulted in the need to prove the property was our primary residence to receive the resident tax rate. The initial bill from property tax was for the non-resident rate and was paid by Round Point. The revised bill was then sent for the resident rate once the documentation was provided to the county tax collector and Round Point paid this balance in full as well, essentially paying taxes twice for one property. I confirmed with the tax collector that a refund was sent to RoundPoint for the overpayment. The overpayment credit is showing in my escrow balance of the account with a balance of {$3100.00} as of XX/XX/XXXX. However, for some unknown reason, an escrow advance was made on XX/XX/XXXX for {$1200.00} when the annual homeowners insurance of {$1500.00} was paid even though there was more than double that amount remaining on the balance of the escrow account. I received a XXXX with an incorrect amount of taxes paid on the property listed and called Round Point to have this corrected, but I received the same 1099 by mail several days later with no corrections made. Our escrow payment amount was changed due to these incorrect projections and we are on a catch up payment schedule to cover an underfunded account that has several XXXX dollars remaining in it. We have requested the escrow account be re-examined with no response or results for the past 2 months. 

Our mortgage was transferred to a new servicer ( RoundPoint ) late in XXXX and the first payment due with Roundpoint was set for XX/XX/XXXX. Three entire mortgage payments were made in XX/XX/XXXX to avoid any issues with late payment or payments incorrectly sent to the prior servicer. The last of these 3 payments was for the XXXX mortgage monthly payment and was not applied correctly. We contacted RoundPoint by phone on XX/XX/XXXX and were told the only balance due at that time was {$130.00} which was paid by phone during that call. The payment made on XX/XX/XXXX was also reversed from a principal only payment and applied to the XXXX due date during this call. The next payment was made on XX/XX/XXXX ( which was a few days late as it was due on XX/XX/XXXX, but certainly NOT 30 days late ). The amount due was {$2200.00}, which was received in full on XX/XX/XXXX. The next payment was on XX/XX/XXXX for the full amount due ( 2 days late ). Another payment for {$2200.00} was made on XX/XX/XXXX due to issues getting RoundPoint to realize we had already paid the XXXX balance due. Subsequent payments for the full amount due were made on XX/XX/XXXX and XX/XX/XXXX, so there is absolutely NO evidence that a 30 day late payment EVER OCCURRED. In the 6 months since our mortgage was transferred to RoundPoint, we have had a total balance due of {$11000.00} and we have paid {$13000.00}. We have never skipped a payment or made a payment 30 days late. We have paid early and RoundPoint has made mistakes on applying these payments correctly and were called and notified to make the correct adjustments, but a late payment was still reported to the credit bureau even though this was their mistake in applying payments and all monies were received within 30 days of the due date. 

IT IS OBVIOUS FROM THE TOTAL DUE AND TOTAL PAID SINCE THE LOAN WAS TRANSFERRED THAT I HAVE PAID {$2200.00} MORE THAN THE TOTAL DUE SINCE THE START OF THE LOAN. SO AFTER MAKING AN ENTIRE ADDITIONAL LOAN PAYMENT THAN WAS ACTUALLY DUE, I AM BEING ACCUSED OF 30 DAY LATE PAYMENTS?!?!? THIS IS RIDICULOUS, FRAUDULENT, AND AFFECTING MY ABILITY TO FUNCTION. ON TOP OF BRINGING THE ERROR TO RPS ATTENTION AND REPORTING THE ERROR TO THE CREDIT BUREAU, MY DISPUTE WAS DETERMINED TO BE UNFOUNDED. THIS IS WHOLLY AND COMPLETE INACCURATE AND BAD BUSINESS PRACTICE. I FEEL I SHOULD BE REPAID FOR THE SUFFERING THIS HAS CAUSED.

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