Consumer complaint received 2020-05-01
Company: RoundPoint Mortgage Servicing LLC
State: PA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
I had a mortgage with XXXX XXXX XXXX, but unfortunately, they sold it to Round Point Mortgage sometime early XXXX. I have been paying in {$2000.00} with XXXX  XXXX XXXX, and that continued to Round Point Mortgage. But I received a letter dated XX/XX/XXXX stating my monthly payment has been increased to {$2600.00} ( 30.6 % increase ) to offset escrow difference. I attached the mail for reference. As a panicked and frustrated customer, I called the customer care on XX/XX/XXXX and asked for an explanation. They said my total escrow disbursal for XXXX - XXXX is {$8100.00}, of which there is an additional unaccounted {$3700.00}. I don't have a letter from the county regarding that amount as tax. The customer representative suggested the baseline is the previous year 's tax collection, but when I asked about the record of that, they don't have anything. When I send the tax statement from the county, they said it  was a mistake on their end. They requested another escrow analysis on XX/XX/XXXX. 

I became more suspicious and lost trust with them, so I decided to remove escrow from them and decided to pay it myself. So Round point customer representative asked to send escrow removal form, and I posted that on XX/XX/XXXX. But after several follow up I received a letter on XX/XX/XXXX stating that they denied Escrow removal because Loan to  value ration should be higher than 80 %. 

The customer service team is not appropriately trained to follow up with this, and I called customer care again on XX/XX/XXXX, but they still don't have escrow reports received. On XX/XX/XXXX, I called customer care again and a customer representative named XXXX, who was very rude and making fun of my questions and never allowed me even to speak. When I asked further, he said I owe Round point Mortgage an amount of {$1300.00} towards XXXX - XXXX, which I believed. I requested to record the line myself and gave consent to do so. He said the previous company ( XXXX  XXXX XXXX ) has  never selected the cushion, which was a complete lie because the cushion chosen by XXXX  XXXX XXXX was two months escrow payment of {$750.00}. It was the second lie from them because when I looked at my Escrow balance, my account was never negative, and it was sitting at a balance of {$950.00} at the end of XXXX XX/XX/XXXX after paying my insurance of {$1200.00} and city tax {$1000.00} of XXXX. 

I paid the {$1300.00} on XX/XX/XXXX, and my escrow balance became {$2200.00}, and my only escrow payout in XXXX is my school tax in XX/XX/XXXX as {$3100.00}. The monthly escrow payment increase is {$450.00} from {$370.00}. Round Point mortgage new escrow analysis suggested I pay {$560.00} escrow monthly and chosen by a monthly payment of {$2200.00}, but since I paid an advance of {$1300.00}, then option 2. Under option one, after all, taxes and insurance payment, Round point mortgage would have an escrow balance of {$3700.00} by XX/XX/XXXX and with option 2,  {$3100.00}. There are only two options and is clearly planned to collect more payment from the customer and keep in their escrow account. 

I have called the customer executive on XX/XX/XXXX and asked for an explanation, but they were unable to give a definite answer to escrow balance. 

I have done some analysis myself and suggested two more options as per attachment. I could pay lesser than last year after paying the advance of {$1300.00} and would still sitting comfortably {$1400.00} based on my choice 4.

I also recommended option 3, where my monthly payout remains unchanged after paying a {$1300.00} advance amount. As a customer, I would like to keep my hard-earned money in my account so that I can use for my need. 

I humbly request help from Consumer financial protection bureau to protect my right and get my monthly payout down or keep it at the same. I also request an explanation from Round point Mortgage, who has been doing the same thing for several customers to stop these unethical practices.

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