Consumer complaint received 2020-01-10
Company: AmeriHome Mortgage Company, LLC
State: IN
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
On XX/XX/XXXX, I purchased a new home with a conventional mortgage loan from XXXX XXXX XXXX. My co-borrower and I signed mortgage disclosure documents, but expressed SERIOUS concern to XXXX XXXX XXXX  regarding the monthly estimated property taxes. The disclosure said our mortgage would be {$1800.00} ( which was unaffordable to me ).  {$420.00} of this were due to estimated property taxes. We immediately expressed concern as this was over XXXX a typical tax amount for a home of that price. XXXX XXXX XXXX  said they could fix this but that it wouldn't take affect until XXXX. Unfortunately, a few days after closing, we received a letter that our loan was sold to a new Mortgage servicer named Amerihome Mortgage, LLC. 

We spoke with Amerihome. We immediately addressed our concerns with the inflated escrow amount. Amerihome stated that they determine tax amounts based on the most recent PREVIOUS homes tax bill, and because they had no previous bill, they used the amount from the disclosures. They stated if we provided the previous tax bill, they would do an escrow analysis and adjust the tax amount. 

We spoke to the tax assessor. The assessor provided Amerihome with our previous tax bill. In addition, they also provided Amerihome with several written statements accompanying that tax bill. The assessor also attached several other supporting documents ( 7 documents in total ) and asked for Amerihome to contact them directly if they had any questions. 

On XX/XX/XXXX, Amerihome concluded their escrow analysis based on the data the tax assessor sent. Amerihome determined that our monthly escrow amount would be reduced by {$420.00} dollars. The new monthly mortgage amount was {$1400.00}, effective XX/XX/XXXX. Much more affordable. Amerihome also stated that we would receive a refund check for {$1500.00} dollars to be received in XXXX days for overpayment into our escrow account. 

Our anticipated refund check of {$1500.00} dollars was in excess of our new mortgage amount, {$1400.00}. Based on Amerihome 's statements, we decided to spend our savings money on XXXX with our families and use the refund check, arriving late XXXX, for XXXX mortgage. 


On XX/XX/XXXX, we hadn't received our refund yet, so we called Amerihome again. 

To our surprise, we were told that a SECOND ( secret ) escrow analysis was completed on XX/XX/XXXX to reverse the decision of the first escrow analysis completed on XX/XX/XXXX. We were BAFFLED! Why would there be another analysis immediately after one was concluded? What new data had surfaced? Why we were never notified!? AND how could we have two investigations with the same compmay and the same documents, but have completely opposite results. It immediately seemed suspicious. 

When we asked Amerihome why did they do a second escrow analysis, they stated because the first was " audited '' and they did not like the outcome. At this point, it became obvious that Amerihome was working toward a calculated desired outcome and not toward a fair and equal process? 

Is it legal for Amerihome to repeatedly analyze escrow accounts until the amount is whatever they desire it to be? 

These are all questions that ran through our minds! 

When we asked about the refund check, Amerihome stated our check had been cut, but because of the second analysis was redeposited back into our escrow account and would not come to us. BOOM! 3 days before the mortgage is due, we now have XXXX dollars! Amerihome then states our monthly mortgage amount has INCREASED. IT IS NOW a whopping total of $ XXXX monthly. 

When we asked Amerihome for a third escrow analysis, to set things back straight, they stated that they legally only have to do one ( at the request of homeowners ) every 18 months. 

They then stated that if they were to do another as a " COURTESY '' that they now, not only needed a previous tax bill but also needed future tax bill. In other words, they needed a document that does not exist and can not be produced, as it was explained to us by the tax asssor and auditor in our county. 

At this point, it also became apparent that Amerihome was uncomfortable with outcome of the first analysis, reversed it, and then " moved the goal '' to something impossible to give it permanency. 

This is SHADY! We found out only 3 days prior to our mortgage being due that we had no refund. Ultimately, we had to take out a high interest rate loan to pay for our mortgage. When we made several attempts to speak with Amerihome about our issues, our calls were intercepted by a operational supervisor by the name of XXXX who refused to let us speak to a service leader or anyone in upper management with a fresh set of ears. We called several times and he intercepted every call so that this decision would not be seen by anyone with more authority. 

This is a total ABUSE OF POWER AND TRUST. 

CFPB please help us!

Company response to consumer: Closed with explanation