Consumer complaint received 2022-07-22
Company: PARAMOUNT RESIDENTIAL MORTGAGE GROUP
State: MA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
I closed on my home in XXXX XXXX and moved in the same day. It took XXXX closing dates and the delay cost me an additional {$2500.00} in storage and movers. Under 4 months of residence in my new home, this PRMG raised my mortgage from {$1900.00} to {$2400.00} which is {$500.00}. Their explanation was that it was an escrow analysis. I explained to the mortgage customer service representative that my taxes and insurance had not risen but instead decreased and I have never missed a payment to date. None of the representatives would provide me any info for their tax department and some even said there is no access to any legal staff or tax department by customers. The Paramount Residential Mortgage Group PRMG collected XXXX months ' of my taxes before even paying taxes to the town I reside ( as it is paid as part of my mortgage XXXX XXXX = {$2500.00} ) ) I want to know that right exists that allows a mortgage company to increase mine and any client 's mortgage payment 27 % with unproven claims. I called the company XXXX times with no resolution and I was given scripted answers with no follow-up. This company 's actions have caused undue difficulty for me in this recession. I suggested PRMG reach out to the Town Assessors office as my quarterly escrow was {$950.00} and {$3800.00} annually yet PRMG raised my escrow 100 % to {$7600.00} annually. The FCRA gives me the right to know what law is in place in this industry that allows unfair injustice. I have all the documents available to prove that this is illegal and unfair and i respectfully ask the CFPB to thoroughly this company 's unfair and unjustified increase of my escrow and their tactical delays in paying timely escrow to the city. Cities do have policies & laws that allow them to place a lien on private properties for late and overdue escrow payments. PRMG is also exposing my property to these risks. Thank you for your service and response.

Below is my email and documents sent to the number and email given to me by PRMG employee - I received no response Resolving my incorrect XXXX XXXX XXXX & payment Inbox XXXX XXXX XXXX Attachments XX/XX/XXXX, XXXX XXXX to XXXX, me Hi I am requesting a review and correction of my mortgage escrow that was inaccurately increased in XX/XX/XXXX. I took occupancy of my new residence on XX/XX/XXXX. I'm frustrated as I have never missed a payment. The XXXX of XXXX fiscal year is XXXX to XXXX and my tax es here is XXXX XXXX year or just over XXXX  XXXX with the tax rate being {$11.00}. To increase my taxes thru an undue & inaccurate analysis from {$3800.00} to {$7600.00} in XX/XX/XXXX is not only illegal but inappropriate especially since I have only resided in the home XXXX plus months when XXXX did this hasty analysis. It is quite clear you multiplied {$1900.00} XXXX XXXX to get your inflated assessment of {$7600.00}. However {$1900.00} represent XXXX XXXX XXXX XXXX XXXX  ' taxes. My Insurance and the XXXX tax rate have never changed so to raise my taxes 100 % to XXXX is illegal. Please provide ANY written laws or grounds that legally allow PRMG to feel justified in raising my mortgage payment 25 % unlawfully to {$2400.00} per month. It is my right to request this information. If your company had waited and done the analysis it would have provided accuracy, clearer information to you, possibly and better customer satisfaction. 

I have called your company 4 times to resolve this to no avail. ( Thank you XXXX XX/XX/XXXX for the notes on my account and professional efforts- XXXX call ) On the XXXX call with XXXX XXXX ( on XX/XX/XXXX ) she had to escalate my request to speak with a XXXX in the tax department. I got XXXX XXXX who only handles escalations. Nobody knew the XXXX XXXX Phone, fax, or email except for XXXX. That is absolutely unacceptable and reflects poor service or info training and a waste of any customer 's time. His directive for me was to email/fax my concerns and information to the tax department and allow for a XXXX hours review/response. Fax : ( XXXX ) XXXX & XXXX I have attached information from XXXX XXXX - the Principal Assessor for the Town of XXXX for your review. in her hopes to explain the PRMG error. She is available by phone if you so chose to reach her at ( XXXX ) XXXX or check XXXX - My insurance that you have on file is paid in full with no changes to the bond. I will repeat again in saying there has been no change to the town tax rate of {$11.00} Please review my escrow and return my contracted payment to {$1900.00} promptly and refund all overcharged amounts. 

Failure to address this matter promptly will direct me to lodge complaints to the Consumer Financial Protection Bureau - CFPB and HMDA as I feel my rights have been violated. It is PRMG responsibility to protect their mortgage clients by following national guidelines and not frustrate clients ' trust, and mortgage relationships. Thank you for reading this email and doing what is appropriate Respectfully XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation