Consumer complaint received 2021-12-14
Company: RUSHMORE LOAN MANAGEMENT SERVICES LLC
State: FL
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Trouble during payment process

Complaint:
Rushmore Management Services supplied no number or name in order to contact and discuss the previous complaint. I had no other options but to file another in response to their inadequate response. The following will break down each of their " reasonings '' based on their review. 
First, it's correct, they received the loan from XXXX XXXX XXXX XXXX. in XXXX, which at this time Rushmore should have sent correspondence to both the County/State and Insurance company to ensure proper dispensing of escrow when each was due. Per each NOTICE OF ASSIGNMENT, SALE, OR TRANSFER OF SERVICING letter that is sent when a loan is transferred- the document states the loan does not transfer to Planet Home Lending until XX/XX/XXXX. Therefore up until XX/XX/XXXX, Rushmore was responsible for the loan. 
Wording in document states : The date that Rushmore will stop accepting payments from you is XX/XX/2021. If your payments are being automatically drafted from your checking or savings account, this service will be discontinued. 
Also, they state we were late with paperwork, again, this is their responsibility as an escrow holder and should have been processed when they received the loan from XXXX XXXX, now trying to maneuver out of responsibility to state the insurance documents were never transferred to them and still showed XXXX XXXX in XXXX is unconscionable. They state a letter was sent, was this sent just to us or the insurance company as well? Should have been both but, they needed us to do their work for them. We did not receive said letter but did speak with an individual ( can't remember whom ) but they did not make us aware of the change in lienholder name. Probably didn't recognize it or because it was moving on didn't care, doesn't matter. This should have been done in XXXX. We also showed verification of an email where we mailed the document on XX/XX/XXXX, they could easily have called the insurance company and rectified the solution. Pursuant to Florida Statute, Title 33, Chapter 501.137 - " Every lender of money, whether a natural person or an artificial entity, whose loans are secured by a mortgage on real estate located within the state and who receives funds incidental thereto or in connection therewith for the payment of property taxes or hazard insurance premiums when the funds are held in escrow by or on behalf of the lender, shall promptly pay the taxes or insurance premiums when the taxes or premiums become due ... '' Also, " If the lender, as a result of neglect, fails to pay any tax or insurance premium when the tax or premium is due and there are sufficient escrow funds on deposit to pay the tax or premium, and if the property owner suffers a loss as a result of this failure, then the lender is liable for the loss ; except, however, that with respect to any loss which would otherwise have been insured, the extent of the liability shall not exceed the coverage limits of any insurance policy which has lapsed. '' Rushmore attempted to blame us for the lapse and late billing, this states they had ample time to take care of the insurance bill, also, our escrow account at the time shows we have the funds ( even so, they would have to make up for it ). 
From here, Rushmore failed to notify XXXX XXXX and is attempting to shove this off on them. At least partial responsibility should be placed here. We have no insurance at this point, our roofing claim has been denied as we have no insurance. The Statute also states " If the lender violates paragraph ( a ) and the premium payment is not more than 90 days overdue, the insurer shall reinstate the insurance policy, retroactive to the date of cancellation, and the lender shall reimburse the property owner for any penalty or fees imposed by the insurer and paid by the property owner for purposes of reinstating the policy. 
( c ) If the lender violates paragraph ( a ) and the premium payment is more than 90 days overdue or if the insurer refuses to reinstate the insurance policy, the lender shall pay the difference between the cost of the previous insurance policy and a new, comparable insurance policy for a period of 2 years. If the lender refuses, the lender is liable for the reasonable attorneys fees and costs of the property owner for a violation of this section. '' Now, I recognize they are no longer our lender, however, they can work with our current lender to straighten this out and pay. Both for the insurance policy at the end of this year, and the following 2 years and stated, along with the roof. 

Should someone like to speak with me and come to some sort of conclusion of respect I am inclined to do so. Not providing a name or phone number and simply the 888 number is extremely disrespectful. I have now also filed with the Federal Trade Commission and the Florida Department of Financial Services.

One other item, due to Rushmore 's paperwork, XXXX XXXX did not send the payment. This begins with Rushmore not sending the insurance company the change in lender information.

Company response to consumer: Closed with explanation