Consumer complaint received 2021-04-21
Company: RoundPoint Mortgage Servicing LLC
State: TX
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
The servicing on my loan was sold/trasnferred to Roundpoint in XX/XX/2021. My homeowners insurance policy was due on XX/XX/XXXXst. Luckily, I was in the process of refinancing and was waiting to see the payment clear so I was checking daily and the payment for my insurance never left the escrow or posted so I called and asked. At first, I was told it couldnt be paid because I was refinancing and a payoff had already been provided. I explained to multiple people that the explanation they were providing made 0 % sense given my escrow balance should have nothing to do with my payoff total and yet no one could give me any further explanation. Finally, about the fourth person I spoke with told me the reason the insurance wasnt paid was because they didnt have the information on file to make a payment. The woman spoke with my agency and was provided all the documentation needed. The following day, I received a call once again telling me that they couldnt make the payment because I was refinancing. At this point, I told them I told them just to make the payment and they did. As a side note, I spoke with the company I am refinancing with who agreed that escrow payment should have no bearing on my payoff estimate. On XX/XX/XXXX, a payment was supposedly sent out to the address the insurance agency provide. I watched for 15 days and the payment never posted to my insurance account. On about day 10, I called Roundpoint and was told that it had been sent and they provided me the address they sent it to, which was the correct address. So I continued to wait. On day 15, I called Roundpoint once again. On this occasion, I was informed that while the address they had previously told me is where it was supposed to go, the check had actually been coded incorrectly and sent to the wrong address. At this point, a stop payment was going to be issued. The stop payment was supposed to be issued on XX/XX/XXXX. I was told it could take a few days for the money to show back up in my escrow. As of XX/XX/XXXX, the money was still not back in escrow so I called. I am now being told the check cleared ; however, my insurance agency still doesnt have the check. No one apparently thought it would be a good idea to check on this given the issues with the account either. I believe someone at Roundpoint should be responsible for figuring out where my money is. 

On top of the above, I had called the week of XX/XX/XXXX to let Roundpoint know that we had signed all the documents on refinancing and the load would fund XX/XX/XXXX. I explained the payment for the payoff included the XXXX payment so we didnt want to make an XXXX payment but wanted to ensure I wouldnt be assessed a late charge or have any negative impact on my credit. I was assured we were all good expect the XXXX payment was taken from our account. 

As it stands, Roundpoint basically has $ XXXX of my money. While my escrow only shows $ XXXX due to the XXXX payment, it is missing my insurance payment that I had to ultimately pay myself. No one seems interested in actually helping me locate the rest of it or making sure I get my money back timely. 
I have never had an experience this bad with a mortgage company before.

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