Consumer complaint received 2019-09-30
Company: Mr. Cooper Group Inc.
State: MI
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
ACCOUNT NO : XXXX DISPUTING FRAUDLENT ESCROW REVIEW STATEMENT We received Escrow Review Statement dated XX/XX/XXXX but we received it on XX/XX/XXXX ( Exhibit 3 ). Upon perusing the Escrow Account Projections for XX/XX/XXXX to XX/XX/XXXX, we noticed that your projections are erroneous and fraudulent which comes to us as no surprise. We have since contacted Mr. Cooper notifying them of the blatant fraud they are trying to perpetrate on us. Therefore, we are requesting a proper and honest review of the Escrow Account Projections for XX/XX/XXXX to XX/XX/XXXX while taking all related information into consideration because there is no evidence or reason to increase the escrow account. 

After an in-depth research and thorough examination of all related documents from the XXXX XXXX Tax Assessors office and past tax assessment documents it clearly shows that theirwinter tax projection payable in XX/XX/XXXX is totally outrageous and inaccurate. One can  clearly see that the exact amount of shortfall of {$3100.00} was plucked out of our XXXX summer taxes ( Exhibit 1 ). A fair projection number would have been XXXX winter taxes of {$1100.00} instead of XXXX summer taxes. Winter taxes for this home are always lower that summer taxes and it is always lower than {$1200.00}. 

There is no basis for their projection of {$3100.00} for XXXX winter taxes other than they are trying to scam us. They deliberately used XXXX summer tax amount to make their projections. This is preposterous and fraudulent. XXXX XXXX has never assessed us this much for winter taxes ever. According to the property tax assessment document ( Exhibit 1 ),  XXXX winter taxes was {$1100.00}, ( an increase of {$20.00} from XXXX ) ; XXXX Winter Taxes was {$1100.00} ( an increase of {$190.00} from XXXX taxes ) ; XXXX winter taxes was {$900.00} ( an increase of {$0.00} from XXXX winter taxes ). Given these actual numbers, one can safely say that there is no way XXXX XXXX Assessors office will ever double or triple our winter tax assessment like they did. Anybody with common sense could clearly see that Mr. Cooper 's fraudulent office is gauging us in retaliation for making a complaint to the Consumer Protection Financial Bureau for deliberately misapplying our XXXX Mortgage payment and we will fight it. 

Although, XXXX winter tax assessment is currently unavailable, one can easily assume that any increase or decrease would likely be minimal or within the normal increase or decrease range over the last 16 years ( Exhibit 2 ). Sixteen years is a good barometer to assess our winter taxes on this property. Besides, when I called the XXXX XXXX Assessors office on XX/XX/XXXX, they confirmed that based on the mill levy and the history of winter taxes for this home there is no way they will assess us {$3100.00} for XX/XX/XXXX winter taxes ( Exhibit 2 ). 

I urge you to request Mr. Cooper to please verify their projection numbers again based on past assessment and other relevant information. The information below proves that if our escrow account is projected accurately, we should still have a surplus in the account for XXXX. For the records, actual monthly escrow payment for XX/XX/XXXX to XX/XX/XXXX is {$570.00} monthly, which totals {$6800.00}. 

Less : Insurance {$1200.00} Summer Taxes {$3100.00} Winter Taxes {$1100.00} PMI ( {$92.00} x 12 ) {$1100.00} GRAND TOTAL {$6600.00} ACCOUNT BALANCE {$280.00} ( $ XXXX {$6600.00} ) *****Furthermore, their own actual numbers for the current year shows a surplus of {$320.00} ( Exhibit 3 ). This confirms that there is no shortfall in the escrow account. Based on the tax history on Exhibit 1 for this home the current surplus in the account is more than enough to cover any slight increase in our taxes and insurance. 

For the records, this scrupulous Company - Mr. Cooper has raised our mortgage payment three times since the account was sold to them a year ago. Upon my research, we are not the only victims to suffer fraudulent practices of overestimating escrow accounts by the ilk of Mr. Cooper so they can pad their investment accounts and make monies off their customers. In fact, we know that it is illegal for Mr. Cooper to hold that much money in an escrow account especially when there is no need. 

Clearly, their projections are false and preposterous. They are trying to gouge us and we are asking your agency to require them to prove that we have to pay {$3100.00} for XXXX by showing us the invoice. The only place they got that exact number of {$3100.00} was from XXXX Summer Taxes which is wrong or from thin blue air which doesnt exist. They were banking on us not doing our research or critically reviewing the document so they can take advantage of us but the point is we are ahead of the game. In fact we willing to pay the full amount of the winter taxes directly if that is the case once we receive the bill. 

Mr. Cooper who is deliberately taking advantage of financial illiterate customers to gauge and mislead them. We need these numbers rectified immediately and correct escrow statements issued. 

In conclusion, unless they have further justification and tangible evidence to increase our monthly payments due to shortage in our escrow statement then we hope you will order them to do the right thing. ( We have attached supporting documents for your information ). 

Sincerely, XXXX & XXXX XXXX Homeowners

Company response to consumer: Closed with explanation