Consumer complaint received 2020-11-03
Company: Specialized Loan Servicing Holdings LLC
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
CMC Funding, serviced by Specialized Loan Servicing, LLC purchased our loan from XXXX XXXX after one month into a new mortgage. The first payment was XX/XX/2020 and I had sent a check to XXXX XXXX. CMC Funding purchased the loan some time in late XXXX so XXXX XXXX sent the escrow ( {$4100.00} ) and first payment check ( {$1700.00} ) to CMC Funding. After numerous calls to CMC Funding to determine if the payments for the first months mortgage, XX/XX/2020 and the escrow had posted, they had not yet processed. Realizing I have 60 days by law for all postings to take place on transferred loans, I still wanted to be current so on XX/XX/2020 I made a payment for XX/XX/2020 of {$1700.00} and a principle payment of {$4000.00}. I contacted CMC Funding customer service and due to the account being so new the only option I had to make a no fee payment was by check or a one-time ACH transaction so I made the one-time ACH transaction. On XX/XX/2020 I found that CMC Funding drafted another {$1700.00} XXXX mortgage payment ) and {$4000.00} ( principle payment ). It took me numerous calls and messages from their portal to get in touch with anyone, this was especially suspect compared to more than ten mortgage companies I have dealt with over 30 years. Additionally, non-existence of any customer service level at all. When I spoke with the customer service agent and asked how a one-time ACH could draft twice over a ten day period, she had no explanation. I asked for a credit to occur and she validated that by executing a credit. She told me that she didn't know if it ] the credit would be by way of check or ACH and that if I could get on my banks letterhead that the funds left my account XXXX funding would expedite the credit faster, so I did that immediately. I followed-up for two weeks trying to get a human on the line to no avail, spent a total of 6 hours working on this at this point. I had also sent messages from their portal explaining the situation only to get back XXXX. replies, as follows ( I wrote ) " I'm following up on the status of my credit for {$5700.00}. I have been told numerous things by phone and still have not received it? Please let me know when and how the credit will be issued? The debit from my account was on XX/XX/XXXX and was told that if I submit a bank letterhead stating the funds left my account that the credit would be more expeditious, I did that. I'm still trying to understand why this happened and would like an explanation. I had an old one-time ACH set up for {$1700.00} for an XX/XX/2020 mortgage payment and a {$4000.00} principle payment make on the same transaction in XXXX when we were first getting establishes with you folks. It showed in your system at the time that the next payment would be in XXXX. Your system then extracted another {$1700.00} mortgage payment and {$4000.00} principle payment on XX/XX/XXXX? ", ( CMC reply 1 ) " Thank you for your inquiry. If the online portal is providing difficulty from setting up automatic payments we are here to assist. However, CMC is unable to set up call backs through our online inquiry. If you would like assistance with setting up auto pay, you may provide all the bank information with the desired draft date, once completed you will receive a letter of confirmation the mailing address on file. This will also be viewable through your online message center. You may also contact us at XXXX M-F XXXX MT., Thank you., XXXX XXXX Teller ID : XXXX '', ( CMC reply 2 ) Thank you for your inquiry. As of XX/XX/2020 a payment in the amount of {$5700.00} was credited as an additional principal payment. Please review the online portal through all transactions. Thank you. XXXX Teller ID : XXXX ''. The second response was confusing, I was expecting a credit and someone at CMC Funding inadvertently made a decision to apply the whole amount, ( {$1700.00} mortgage payment ) and ( {$4000.00} principle payment ) to principle? I was extremely upset at the lack of professionalism and suspect of their legitimacy as a mortgage company. That event lead me to file this complaint. I then spent another 4:23 hours trying to get ahold of someone and finally got to a supervisor who said she understood the mistake that was made and supposedly corrected it and that was on XX/XX/2020. At this point I have XXXX mortgage payment coming up so I told her to only credit my bank account the {$4000.00} principle payment amount and use the remaining {$1700.00} for XXXX 's payment. She claimed that the funds would go back into my account by way of ACH, I still have nothing showing in my account as of XX/XX/2020. I sent another message from their portal on XX/XX/2020 and no reply yet. I have a little over 10 hours invested in this ordeal and I find this company highly suspect in their business practices. Please let me know if I have any legal recourse, if so I will be glad to take this business to civil court for damages and hopefully you find criminal offenses that levy heavy fines and/or jail time for someone. If this happening to me, multiply that by XXXX 's.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation