Consumer complaint received 2021-06-08
Company: LD Holdings Group, LLC
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
***XX/XX/XXXX - Bought home, financed with LoanDepot . Escrow was setup to cover both regular and supplemental property taxes. 
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- ***XX/XX/XXXX - Sent supplemental tax bill to LoanDepot . [ Incident : XXXX ] 1st installment due XX/XX/XXXX - {$2800.00}, 2nd installment due XX/XX/XXXX also for {$2800.00} I sent it to the email their call center told me to send it to. XXXX -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- ***XX/XX/XXXX - I paid first installment of supplemental taxes myself because I only had automated response from LoanDepot, no confirmation. I took responsibility for giving them short notice. 
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- ***XX/XX/XXXX - LoanDepot sent me a check for overage in escrow. {$2900.00}. This check would have been for a " slightly '' lower amount if they accounted for supplemental taxes in their escrow analysis. Turns out, they did not do their escrow analysis correctly despite having both supplemental bill from me and also the funds to cover it. 
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- ***XX/XX/XXXX - Supplemental taxes were due and LoanDepot did not pay them. 
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- ***XX/XX/XXXX - I receive late notice from county. And I sent an email to LoanDepot ( call center couldn't answer this ) -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- ***XX/XX/XXXX - They issue another escrow overage check to me for {$2700.00} instead of paying the county. Notice that despite them sending me overage check in XXXX, they still had a significant overage in escrow. Only {$16.00} short, if they had paid it on time. Now there is an additional 10 % late fee of {$280.00} -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Considering I did my part by proactively sending the supplemental bills and also considering they clearly had the funds to pay for it, I am expecting loandepot to take responsibility for not paying the supplemental bill on time and I expect them to pay the late fee. But they argue there weren't sufficient funds which is just not true.

Company response to consumer: Closed with explanation