Consumer complaint received 2022-05-21
Company: Caliber Home Loans, Inc.
State: IN
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Trouble during payment process

Complaint:
I had done a FHA XXXX XXXX XXXX signed and sent back XX/XX/XXXX. I was on covid forebearance for a year before that and was resuming payment to start XX/XX/XXXX for a set amount per the agreement. I have not been able to send in payments via their website and still have not been able to do so since the information on there is incorrect regarding my payments and I was told it won't allow me since I'm behind. But when I call in each time, I have to wait over an hour or so to even speak with anyone. When I asked why the new payment owe monthly is not reflected, they said it is because they are behind. It's been 7 months and they have not processed my partial claim agreement. This is unusually for a company to take this long to reconcile an account and get it up to date on their system and to show on the statements going out to me. 

I've been sending in my payments via my bank through billpay to be sent to them. The amounts is different on my statements and for one month, they had put funds in a suspense/unapplied account and I got a letter saying I still owe funds. When I called, I was told to only pay a particular dollar amount per the letter and per the representative on the phone and they will pull money from the suspense account to make it whole one payments so I sent in the difference for XXXX. That amount owed is different than what was on the partial agreement. They said since I now have this amount owed that went to the back of the loan, I will never be able to have extra funds go to the principal. So all those months that I started paying back, any extra amounts were not being applied however I did not see it showing on the statement as to where the extra funds went. 

As of XX/XX/XXXX statement that I received, I noticed transaction activity and I called in about it on the XXXX. The description read " Payment Reversal ''. All the payments I have been making since XX/XX/XXXX went into unapplied/suspense funds account. This is alarming to me so I called in. I was told they are still working on my payments and it will be applied accordingly. The dollar amount she stated I still owed because of the different payment set on the partial agreement is not enough. So I need to send in more money to have them finish their processing of the partial claim reconciliation. I asked her when was somebody going to notify me? I had to call in to know what was going on when I saw payments not being applied. She said she does not know. 

I was told my payment from another representatives is a smaller amount but then my statements are showing something else that is different from what the rep stated and from what the partial agreement states. They are all conflicting amounts and information is not consistent for what I should be paying. 

This company is inadequantly handling my financial incorrectly. They should have taken care of the partial claim agreement in a timely manner but they have not, it's been 7 months. 

What I am concerned about is : 1. Why are my payments not being posted accordingly? I have over $ XXXX in unapplied/suspense account as of today. 
2. Why is it taking them this long to modify my partial agreement and get it on their system to be reflected so I know what the actual amounts? 
XXXX. Whatever my monthly payment should be, it should be reflected accordingly on their website and on the statements so that I am not considered late on my payments due to the inconsistency amounts being given and stated on the web and representative. 

Name of the company is Caliber Home Loans

Company public response: Company believes complaint represents an opportunity for improvement to better serve consumers
Company response to consumer: Closed with explanation