Consumer complaint received 2021-02-01
Company: RUSHMORE LOAN MANAGEMENT SERVICES LLC
State: NY
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
XXXX XXXX XXXX, XXXX. 
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NY XXXX Cell : XXXX XXXX XX/XX/XXXX Rushmore Loan Management Services Department of Consumer Affairs XXXXXXXX XXXX XXXXXXXX XXXX, CA XXXX XXXX : SECOND WRITTEN REQUEST Pursuant to CFPB Mortgage Loan Servicing Rules To Whom It May Concern : My name is XXXX XXXX, and I live at XXXX XXXX XXXX, XXXX XXXX XXXX, New York XXXX. I currently reside in this single-family home and intend to stay here. My Loan # is XXXX. 

In XX/XX/XXXX, my loan was transferred from XXXX XXXX XXXX XXXX to Rushmore Loan Management Services. I made my XX/XX/XXXX and XX/XX/XXXX payments of {$2600.00} to Rushmore Loan Management Services. On XX/XX/XXXX, I received my Annual Escrow Account Disclosure Agreement and Change of Payment Notice. It stated that my monthly mortgage payment was going to increase by {$570.00} per month as of XX/XX/XXXX because of Rushmores Escrow cushion policy, which is egregiously excessive. On XX/XX/XXXX, I spoke with the customer representative XXXX about the increase in my mortgage payment. His Employee # was XXXX. I am requesting that my loan payment be reduced as it relates to my escrow analysis to remove the cushion. Please note that this increase is excessive. My property taxes have only increased by {$120.00} per month for the XXXX Property Tax Year as a Town of XXXX resident. 

Since XXXX XXXX transferred my loan, Rushmore is increasing by {$570.00} per month which is excessive!!! And especially with COVID-19 it is unreasonable to have such a substantial cushion. On XX/XX/XXXX, I received a response to my request that effective XX/XX/XXXX, my payment would be {$2800.00}. 

Now as of XX/XX/XXXX, our new monthly payment amount is {$3100.00} which is the same issue again! On XX/XX/XXXX, I spoke with the customer representative XXXX about the increase in my mortgage payment. His Employee # is XXXX. I would like the escrow shortage similarly spread over 60 months and the escrow cushion removed. 

In addition, my principal payments are not being calculated and/or applied correctly. I would like that reviewed, as well and a copy of the modification documents from XXXX XXXX from XX/XX/XXXX. I believe that we have been making timely substantial payments, but still owe over $ XXXX. 

I am submitting this as a WRITTEN REQUEST because of the COVID-19 quarantine. Also, note that I am a NY homeowner and I will submit another complaint regarding Rushmore Loan Services regarding your servicing practices. Once my loan was transferred from XXXX XXXX to Rushmore Loan Management Services I have been inconvenienced regarding payment options ( i.e., bi-weekly automatic payments to align with my bi-weekly payroll ) as, well as this excessive increase. I would further note that I am currently unemployed, yet still making my monthly mortgage payments. I am also going to file this complaint with New York State Attorney General XXXX XXXX, the Consumer Finance Protection Bureau and the NYS Department of Financial Services. 

Please respond at your earliest convenience. I can be reached by phone at XXXX or by email at XXXX. 

Sincerely, XXXX XXXX XXXX, XXXX. 
XXXX XXXX cc : Consumer Finance Protection Bureau New York State Department of Financial Services Honorable New York State Attorney General XXXX XXXX

Company response to consumer: Closed with explanation