Consumer complaint received 2022-09-19
Company: RUSHMORE LOAN MANAGEMENT SERVICES LLC
State: MO
Product: Mortgage
Sub-product: FHA mortgage
Issue: Trouble during payment process

Complaint:
Back at the beginning of the Covid epidemic, I became XXXX  and was unable to work because of XXXX. I went into the Covid forbearance sometime in XXXX and began making payments again in XXXX of XXXX after the final extension of my forbearance was finished. 

Fast forward to XXXX or XXXX of XXXX. I was told that there was a program through FHA that would lower my P & I by 25 %, if I did this " modification ''. I decided that was a pretty good idea since I wasn't that far into my mortgage and saving money is always a good idea. ( Time went by, after several inquiries about it, the only thing I was told is that " it was in underwriting '' ). It was about this time that I was told about a program though XXXX  in Missouri that they could pay all or a portion of the forbearance money to help out homeowners, so I applied. My application was approved, and the process was that XXXX  would contact the servicer and get the information, send them a check and they would apply that amount to my account. It was at this point that everything became clear that something wasn't right at Rushmore. 

In XXXX, I noticed that there was a payment for {$4100.00}. on my account ( see attached screenshot ). I assumed it was the payment from XXXX. I didn't question the amount at the time, it was a gift and I appreciate every gift I am given. However, I did not receive anything in the mail from XXXX  or Rushmore about this payment so, I went to the website for XXXX  and looked it up. I was shocked to see that a total of over {$5600.00} was sent to Rushmore on my behave ( see screenshot ) and not the {$4100.00} credited to the account. So, I called both XXXX  and Rushmore. 

I asked about the payment credited and why it was considerable different than what was sent, why there was no correspondence from them about the payment and I demanded an accounting of the funds. I was informed that the nearly {$1600.00} discrepancy was for " Corporate advances ''. I asked for a definition of corporate advances and was informed " it could be many things '' and that was all the explanation I was given. I asked to speak to a supervisor and was told that " there was phone issues, and I wasn't unable to be connected ''. Within the next 2 days, I called back and unfortunately was put in contact with the same CSR who not only laughed at my concerns, wouldn't put me in touch with a super. They left me no choice but to contact FHA. 

The rep at FHA gave me several educational avenues, including definitions of corporate advances, Covid forbearance modifications, etc... and WOW, then I really knew something was wrong. I eventually spoke with a super at Rushmore who informed me that I the " Covid modifications all included a " reset '' of the mortgage ( what he failed to tell me was, my mortgage was 442 months, not the 360 or 480 months noted in the FHA explanations? There was NO partial claim filed ( I checked my SIP account ) so, why not and where did the {$5700.00} claim to XXXX  come from? I did NOT receive the 25 % deduction in my P & I, as a matter of fact, my payments went UP, and when I asked for a copy of the modification ... I still don't have it. And here was the best, the lady from Loss Mitigation informed me that the : '' corporate advance '' was from XXXX when I closed on my house! ) Furthermore, on my " home page '' of my mortgage, there is deferred interest for almost {$14000.00} yet, Rushmore said its over {$16000.00}. What is that and why do they see something different than I do? 

I am sure I am missing some details of this debacle, but it is twisted. I feel that there is something wrong with the process of the Covid modifications not to mention the funds made available to homeowners through various state programs like XXXX  that Rushmore is taking advantage of. If they are doing this to my account, I've no doubt they are doing it to others.

Company response to consumer: Closed with explanation