Consumer complaint received 2019-04-30
Company: BROKER SOLUTIONS, INC.
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
On XX/XX/XXXX, I refinanced my mortgage loan to remove my PMI and to lower my total monthly mortgage payment. XXXX XXXX, XXXX # XXXX, from New American Funding assisted with my loan. 

On XX/XX/XXXX, I received an Annual Escrow Account Disclosure Statement with a {$1100.00} shortage Surplus charge. I contacted XXXX XXXX to clarify the charge and asked for details regarding the shortage/surplus. XXXX stated that charge was due to an increase in my property taxes and hazard insurance. I advised XXXX that I did not have any questions regarding those charges and that I understand my property taxes and my hazard insurance charges. 

During a period of 3 weeks in communicating with XXXX XXXX, he avoided my questions and did not give me a straight answer. I contacted XXXX XXXX, New American Funding CEO and co-founder, but she deferred me to XXXX XXXX, National Vice President MCL, to assist me with my account concerns. 
XXXX XXXX and XXXX XXXX, Customer Service Manager, were in constant communication with me. XXXX put me in contact with a minimum of 6 other  individuals within New American funding in conference calls. 
However, no one answered my questions regarding my shortage/surplus charges. Instead of answering and addressing my concerns, these individuals deflected the issue and focused on the hazard insurance and county taxes increase, instead of the real problem, which are the shortage/surplus charges. 

After numerous phone calls and speaking to many representatives, it became apparent that XXXX XXXX and XXXX XXXX and all individuals within New American Funding did not want to explain any details to my questions regarding the shortage surplus because it was due to the PMI. I assume that going forward, I will receive this annual account disclosure for my PMI in an annual payment of {$1100.00} or more. 
I refinanced my loan to lower my total monthly mortgage by removing my PMI. However, with the shortage surplus charges, my mortgage is back to the previous amount as is was before with XXXX XXXX, who was my original loan lender. In total, I paid {$13000.00} to refinance my loan with the objective of lowering my monthly total mortgage and to remove my PMI. XXXX was aware of my objective and claimed to formulate a loan to achieve it. Under this agreement, I proceeded with the refinance because I trusted and believed XXXX was going to help me. However, instead of helping me, XXXX, fraudulently misled me. Why would I spend over $ 13k to refinance a loan, only for my monthly bill to stay the same amount? The only difference is, instead of making payments to XXXX XXXX, my payments now are redirected to New American Funding. It does not make sense. This is the issue that many individuals whom I have spoken to from New American Funding are deflecting. 

Every individual from New American Funding that I have spoken with has questioned why I signed the loan documents, which is ridiculous. These individuals are implying that it is my fault, which illustrates that they do not understand my situation, nor do they want to help me. I signed the documents under the objective and terms XXXX, and I discussed. 

XXXX XXXX questioned why I didnt use my 3 days grace period to cancel the loan. XXXX is also deflecting and avoiding root issue and root cause. XXXX is seeking excuses to justify XXXX XXXX poor work ethics, when XXXX formulated my loan. XXXX deliberately misled me, and the New American Funding policies and practices have allowed this to occur. 

On XX/XX/XXXX I meet with XXXX XXXX and XXXX XXXX at their XXXX location to which they both ignored my request regarding Shortage Surplus charges and only spoke about Hazard insurance. XXXX and XXXX stated that they would have a serious conversation with XXXX, which implies they found other issues regarding the method in which my loan was formulated. 

After my meeting with XXXX XXXX, he called me and asked me to write a letter requesting what I want to settle and resolve the issues regarding my account. 
On XX/XX/XXXX, I email him and XXXX XXXX my letter. I requested a credit to my account with my closing cost expense with the amount of {$13000.00} On XX/XX/XXXX XXXX XXXX, Customer Service VP email me that she did not found any error and she closed my claim. I did not claim an error ; I claimed misleading/misrepresentation and unethical practices. All alone they did not deflect they cover up, this Miss XXXX policy to ruin people lives this is her version of being honest and decent. 

Also, I received an updated Annual Escrow account disclosure statement with new due date instead of XX/XX/XXXX; now will be XX/XX/XXXX according to the letter its because of property taxes payment, also they mail me a {$100.00} refund check. 

My claimed has nothing to do with my property taxes or hazard insurance. My claimed is in regard to PMI Shortage/Surplus charges, unethical and misrepresentation practices. 

After 4 months of intense discussions with New American Funding CEO, two VPs, and 4 Managers among other individuals ignoring my valid dispute, I have exhausted all avenues with New American Funding regarding this matter and am unable to find a solution to this matter. I am requesting a formal Complaint against XXXX XXXX XXXX # XXXX and New American Funding for unethical and dishonest practices. 

New American Funding is expanding and is in the process of opening new offices, with focus on XXXX community, as XXXX XXXX knows how vulnerable this community is and will be easy target for them to do what they have done to me. 

XXXX XXXX surround herself with XXXX  speaking professionals to accomplish her goal, the down side when customer experience undisclosed charges XXXX is no longer available their is their duty tricks by demanding English.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation