Consumer complaint received 2016-03-24
Company: NATIONSTAR MORTGAGE LLC
State: SC
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
Me and my husband obtained XXXX mortgages in XXXX with XXXX XXXX XXXX. We 've never had a problem with them or our payments being automatically withdrawn on time and then 2 years ago we were transferred/sold to NATIONSTAR. We were n't told until after we got information from Nationstar. About two months ago we received our maturity date letter saying that we have over {$8000.00} due on our maturity date for both of our properties in total. We 've never missed a payment at all we received our statements and we pay them and have never been late so we contacted Nationstar and we have been getting the runaround ever since until today. I Escalated until I could n't escalate anymore. After being told month after month that we will get something from the research department about our account because they ca n't seem to figure out why we had such a large payment due on our maturity dates, where it is supposed to be only one payment and then we would be done. All we got from research is the exact same thing we 've gotten before which is a promissory note that we have and been going by since XXXX which is 15 years ago. Then today ( XXXX XXXX, XXXX ) I get yet another supervisor on the phone and he says when a payment is not received on the exact date it is due, there is interest accrued on it daily. Mind you we mail in our payments because we did n't know what Nationstar was and we did n't want to give them our direct information like our routing and account number so we mailed a payment in. And like any other mortgage or homeowner we thought well our payment is not 10 days late its not even 3 days late so once they receive it we will be good to go. We received our statements and they did n't show anything past due or any late fees because we always made our mortgage payments either on the day or at the latest they 'd receive it on the due date and process it 2 days later. Our statements always show the same amount of {$770.00} on XXXX account and {$210.00} on another account so we thought oh we 're good to go we 're almost at our maturity date and we 're close to paying our accounts off! No such thing because they are saying when they received the payment a day or two late it accrues daily and they put that on the unpaid principal which is due on the maturity date. I asked why were n't we told this or why was n't it on the billing statements because IF WE KNEW THIS WAS OCCURRING WE 'D PAY IT SO IT WOULD N'T BE A BALLON AT THE END! WE NEVER SIGNED UP FOR A BALLON PAYMENT! We never had a problem with XXXX XXXX XXXX mind you, all of a sudden after we have Nationstar for two years now it 's a problem and we now owe {$8000.00} in total on both of our accounts so please tell me if this is fair because we never had this problem with XXXX XXXX XXXX we probably would have been owing {$20000.00} by maturity date if this was actually true but no its {$8000.00} because it happened in the last XXXX years when we started with Nationstar. We reached back out to XXXX XXXX XXXX and they said this is incorrect and it should be going by our payment schedule and should be honoring our agreement but Nationstar is n't honoring anything. They just want the money and definitely do n't care about how wrong they are doing us. Out of all the supervisors I 've spoken to and all the research department information this one supervisor comes up with this but no one else could figure out the issue. This is a huge problem.

Company response to consumer: Closed with explanation