Consumer complaint received 2018-04-24
Company: Home Point Financial Corporation
State: IL
Product: Mortgage
Sub-product: FHA mortgage
Issue: Trouble during payment process

Complaint:
We have desperately been trying to get Home Point Financial to resolve this problem before our real estate taxes are due! Believing that our XX/XX/ mortgage payment had been lost in the mail ( it had not cleared bank ), we called Home Point Financial on XX/XX/XXXX and asked if they had received our check to which they replied that " no, they had not received it ''. We then made a duplicate electronic payment through our bank. The very next day, the original check cleared resulting in a duplicate payment. We contacted Home Point and they said that if we faxed them a copy of our banking activity which showed that both the check and electronic payment had cleared, they would reimburse us for the double payment in 5 business days. We faxed the bank proof on XX/XX/XXXX. Home Point did not issue a check to reimburse for the double payment as promised. Instead, they applied the additional escrow portion of the double payment to our escrow balance ( increasing escrow balance ) and applied the additional principle amount to our principle balance ( reducing the principle amount to be paid off ). Where the interest portion, {$610.00}, of this duplicate XX/XX/ payment went is a mystery to me. Home Point claims it went to the payoff which is ridiculous since they were only owed 2 days of per diem due to our refinancing of the loan with a new lender onXX/XX/XXXX. ( We refinanced the loan with a new lender on XX/XX/XXXX and Home Point was wired payoff funds onXX/XX/XXXX ). The amount of the payoff funds that they received was {$190000.00} although the remaining principle balance was only {$190000.00}. The difference after applying the release fee of {$57.00} and 2 days (XX/XX/XXXX settlement ) of per diem of {$20.00} x 2 days is {$470.00} which was also owed to us by Home Point. We filed two separate complaints prior to this one, and as a result have finally received our escrow balance, and a refund of the overpayment of our payoff. However, we have not received a refund of the interest portion of the XX/XX/2018 duplicate payment ( approx. {$610.00} ) Home Point claimed in their response to complaint no. XXXX that the payoff statement from ourXX/XX/XXXX refinance was reduced by this interest amount, but that is a false statement. They were paid in full plus some on XX/XX/XXXX and the only interest they are entitled to for XX/XX/2018 is {$40.00} ( already figured in the payoff ). {$610.00} represents a full month of interest for XXXX which Home Point Financial is not entitled to! 

In summary, we were owed {$3500.00} for Escrow ; we were owed {$470.00} due to the overpayment of the refinance payoff ; and we were owed {$610.00} which was the interest portion of the duplicate XX/XX/2018 payment. This totals {$4600.00} that was owed to us by Home Point. As a result of our filing 2 complaints, we finally received the following checks from Home Point : Check no. XXXX for {$3700.00} ; check no. XXXX for {$240.00} ; and check no. XXXX for {$130.00}. These checks total {$4100.00}. Therefore, we are still owed {$520.00}. 

Please Home Point, do the math, and then check your math when you respond to this complaint. My next complaint will be to the Illinois Attorney General if this issue is not resolved.

Company response to consumer: Closed with explanation