Consumer complaint received 2019-11-07
Company: Ocwen Financial Corporation
State: MA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
My initial complaint was filed on XX/XX/2019, complaint # XXXX requesting information from PHH Mortgage Services. The did answer one of my questions by admitting they made a mistake but have still not agreed to correct their error. My complaint was not fully answered. I have tried numerous time to speak to XXXX XXXX   the gentlemen handling the case. He has never returned any of my phone calls even though it was suggested in the many correspondences received from PHH that he would be available to talk. The facts are, as of XXXX XXXX there was a suspense balance on my account in the amount of {$1300.00} which I attempted to apply to my XX/XX/2019 mortgage payment. In their response PHH agreed to this balance but, stated " Records indicate that during the service transfer from Ocwen to PHH the suspense balance in the amount of {$1300.00} was inadvertently applied towards the unpaid principal balance They further saud. '' We strive to provide each customer with the utmost in customer care and professionalism and are sorry to hear of any unsatisfactory experience you may have had. We sincerely apologize for any inconvenience you may have encountered as result of this matter. '' The inconvenience was PHH reported me 30 days late to all credit reporting agencies and caused a 31 point drop in my credit score.My request was this amount be combined with my payment of {$1100.00} to satisfy my mortgage contractual obligation of {$2400.00}. PHH in all these months neglected to tell me about this inadvertent application of my funds. From XX/XX/XXXX to today I have been attempting to get my money applied the way I requested. The fact that PHH or Ocwen inadvertently allocated my funds would indicate they have the power to reverse this error and do as I requested. During this process my monthly payments have been all past due. I need my money being applied as I requested and PHH to contact all the major credit reporting agencies that I was never  late. 

Also, my complaint requested proof that I was credited for {$5000.00} XXXX which was approved on XX/XX/2019. On the statement I received I do not see the deduction. I am requesting proof that I received the {$5000.00} credit. On XX/XX/2019 I received confirmation of Modification of Promissory note making my new mortgage payment {$2100.00} and unpaid principal of {$330000.00}. On XX/XX/2019 there was an adjustment of XXXX {$7900.00} XXXX, see copy of statement supplied by PHH. My question is why did my loan principal increase by this amount? 

None of the questions I asked were answered to my satisfaction. In their response the excuse for not applying my funds as I requested their response that they made an inadvertent mistake. My request is they correct the mistake and apply my funds as I requested. When it comes to my my money an inadvertent mistake is not an acceptable result and can easily be reversed by a ledger adjustment, which would credit my money to my mortgage payment and increase my principal by the same amount. Finally, my request for missing principal adjustment of {$5000.00} and a detailed explanation as to the reason the loan principal was increased by {$7900.00} after the loan modification was approved and my mortgage monthly payment adjusted.

Company response to consumer: Closed with explanation