Consumer complaint received 2018-09-22
Company: RoundPoint Mortgage Servicing LLC
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
We closed on an investment property in XXXX, TX in the beginning of XX/XX/2018. The original loan was for $ XXXX. The escrow should have already been set up at that point to cover all insurances, including flood insurance for the year. The original lender XXXX XXXX sold our mortgage to RoundPoint Mortgage in XX/XX/2018. 

RoundPoint on more than one occasion demonstrated terrible communication. They did not have various documents ( they kept asking for things over and over again via mail ), and did not acknowledge our new account until right before XXXX 's mortgage was due. This is relevant because they then over paid the flood insurance to FEMA in XXXX. They sent them an extra {$6200.00} from our escrow. 

RoundPoint did not inform me of their mistake. It was in fact, my insurance broker 's office ( XXXX XXXX ) who called me and told me that the mortgage servicing company had paid the flood insurance twice. FEMA sent us back an overpayment check. RoundPoint then sent me a statement in XXXX claiming escrow for the year was going to be short, and that for XXXX we were going to have to either send them {$10000.00}, or our monthly mortgage was going to increase by + $ XXXX/month. 

I called them and asked 1. ) Why was the flood insurance double paid?, and 2. ) How can the escrow be that much off when the loan is only a few months old?  Their response was literally, " these things happen '' and " you'd be surprised how often this sort of things happen. '' They gave no reason why the flood insurance was handled so poorly, or why the escrow was still apparently $ XXXX off from what was calculated for closing only a few months before. 

I have trouble getting them on the phone ( I'm on the XXXX coast, their offices on the XXXX coast ), and the website login doesn't give access to much account info at all. I sent the FEMA overpayment check back to RoundPoint to be put specifically into escrow but they have not informed me of any changes yet. I logged onto their terrible web interface and I see that the monthly mortgage has now been recalculated. 

So, in essence this is what happened : XX/XX/2018, close with a monthly mortgage payment of {$1700.00}. 
XX/XX/2018, loan sold to RoundPoint. 
XX/XX/2018, RoundPoint over paid flood insurance. 
XX/XX/2018, Round point says we were going to have to either send them ~ $ XXXX, or our monthly mortgage was going to increase by $ XXXX/month. 
XX/XX/2018, I get the FEMA overpayment back into escrow with RoundPoint. XX/XX/2018, RoundPoint recalculates our monthly mortgage payment to be {$2100.00}. 

Why are we being asked to pay ~ {$300.00} more a month when we only closed last XXXX? Why are they not taking responsibility for their mistake? I don't understand how the terms of the loan can change this much. I'm not sure what action to take now. 

Thank you, -XXXX XXXX

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