Consumer complaint received 2018-07-10
Company: FRANKLIN AMERICAN MORTGAGE CO.
State: VA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Earlier this year I was notified that my escrow payment was to be adjusted and my mortgage payment amount would increase unless I paid the shortage of {$2000.00}. I contacted Franklin America to discuss how the situation and to ask how to pay the shortage electronically. I was told to submit the payment and indicate that it was for the escrow shortage in the memo field. On XX/XX/XXXX I made the payment as indicated. Franklin America applied payment incorrectly to my mortgage payment ( which wasn't due until XX/XX/XXXX ) in the following manner. {$210.00} ( Principal ), {$600.00} ( Interest ), {$420.00} ( Escrow ) with the remaining {$820.00} ( Additional Principal ). On XX/XX/XXXX when I paid my payment XX/XX/XXXX they applied {$1100.00} to additional principal. On XX/XX/XXXX when I realized their error I called and after discussing it with the agent she indicated that she understand what needed to happen ; however, she would have to have the research dept. investigate and they would contact me. On XX/XX/XXXX after not hearing from anyone I called back. 

Talking to a second agent she indicated to me that the research dept. had marked my request as completed because the 1st agent had not provided detailed information on what needed to be done. She also indicated that the research dept. had called me and left a voice mail. I have voice and my voice mails are sent to my inbox. I did NOT received any voice mail from Franklin America. After a lengthy discussion the 2nd agent read me back the request that would be sent to the research department, she also indicated that it could take up to 8 days for my issue to be resolved. She also indicated that the research dept. would call me to confirm that my issue had been resolved. 

Hearing nothing on XX/XX/XXXX I called a third time speaking to a 3rd agent. I waiting several minutes for her to read over the notes from the previous conversation with the 2nd agent. She then started to tell me that they never received the {$2000.00} payment in which I had to explain to her how her company applied it as if it were two separate payment ( {$1200.00} & {$820.00} ) on the same day. After a heated discussion she once again put me on hold for an extended period of time to either investigate or to stall not sure which. When she got back on the line all she could tell me was that my request was still being investigated. She was absolutely helpless and totally incompetent. I spent over 30 minutes on the phone and she could not tell me anything. Just that my request was still being investigated. 

On XX/XX/XXXX or XXXX I called requesting to speak to a supervisor because my request had still not be resolved, nor had I anyone from the research dept. contacted me yet, and they had assessed me with a late fee. The supervisor waived the late fee and was finally resolved my issue. He also indicated that the 1st, 2nd and 3rd agent should have been able to resolve my issue when I previously had called and apologized for the mishandling of my issue. He not only resolved the issue but was able to tell me with the corrections would be posted to may account. However, I was not told nor did I expect to receive a delinquency notice. AT NO TIME WAS MY ACCOUNT DELIQUENT FRANKLIN AMERICA WAS ADMINISTRATIVE INCOMPETENT. Therefore, I want Franklin America to send me a written apology acknowledging their error.

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