Consumer complaint received 2017-04-18
Company: RoundPoint Mortgage Servicing LLC
State: CA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
This complaint is in regards to RoundPoint Mortgage  Servicing Corp.  of  XXXX  NC.   My mortgage was transferred t o RoundPoint ser vicing. This was in  XXXX     2017. I had   ( an d have always ha d )  an escrow account for taxes and insurance. Upon receiving notification that my servicing had been transferred I called RP 's customer service to ensure that I did n't need to do anything to make sure my insurance was being paid. They confirmed that they had my  XXXX  policy and everything was good. I called twice, and both times was assured that it was fine. I then received a check from  Roundpoint in  the amount of approximately {$800.00} for " overfunding of my escrow account ''. I called again because this number is very close to the cost of my insurance premium. They told me ( 3rd time now ) that my account had been over funded and my insurance was still good. They even confirmed the policy number. About a month later I got another letter from Roindpoint stating that I needed to call the insurance dept. I called, and they told me that a mistake had been made and that not only had they not contacted my insurance broker to update the loss payee when they took over my mortgage but they also did n't pay it so my insurance had been cancelled! I could not believe it. I called my insurance broker at  XXXX   XXXX  and they confirmed that Roundpoint had never reached out to them to update themselves as the lender and they had never remitted payment. So, unbeknownst to me, my home had been uninsured for the previous 45 days or so. On top of that, because the policy had been lapsed for over 30 days it was not able to be reinstated and had to be rewritten. In the meantime,  XXXX  had increased their premiums, so for the same coverage my policy went from $  XXXX  /year to  $  XXXX  /year.   Also, because of the lapse, my wife 's engagement ring ( which had always been a part of the coverage ) would need to be re-appraised. So not only did I lose my grandfathered premium, I incurred a 33 % increase in my premium ( which will now be every year ), I had to take a day off of work  and drive 2 hou rs to where I got the ring to have it re-appraised so it could be back to the policy. I spoke with the supervisor  (   XXXX   ) at RoundPoint 's in surance dept who has agreed several times that this was 100 % their error, and no steps have been made to make it right. I have spent hours and hours on the phone with my insurance company and RP, coordinating the insurance policy being re-written, making sure it got paid, getting the ring re-appraised, getting that info over to them, all so I could pay over $  400+/year  extra because they did n't bother to make the call and get the insurance paid. I Also lost days of work and had to pay for another appraisal. And this is n't a one time thing, I will now have to pay this increased premium every year AND my mortgage payment has now been increased because the escrow account is now underfunded, because my increase in insurance.  XXXX  a t RP h as told me that it will be reviewed by management but I have been getting the same response for weeks now with no resolution or offers to make this right. I do n't believe that it is fair for me to have to cover all of these expenses because  of ( admittedly ) so meone else 's oversight. I thank god that nothing happened to my home during the time that ( again, unbeknownst to m e ) I was un insured. Had there been a fire, or someone got hurt, or my wife lost our wedding right?? I did n't want to have to submit a complaint but I have given them several chances to make this right and feel I have been more than patient but this just is n't right.      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