Consumer complaint received 2015-12-12
Company: Ditech Financial LLC
State: TX
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
We did a refinance in the first quarter of this year. The amount that was put into escrow ( which was quite high at the time ) was based on taxes for 2014. As it turns out, the appraiser gave us an appraisal that was a lot lower than the assessed value on the tax rolls. After the closing we saw the numbers that the escrow amount was based on and realized that the taxes would be going down if we applied to the appraisal district for a reevaluation. This was done and the property was inspected and the assessed value was lowered to {$280000.00} ( down from the previous year 's assessment of {$490000.00}. I calculate this to be a reduction of a little less than 50 % and assumed the taxes would be adjusted accordingly. I conveyed this information to them and they advised that until they received the final appraisal and subsequent billing statement for the taxes they could not do anything to adjust the escrow. In addition, we changed our casualty insurance provider on our property and lowered the premium by about the same proportion. I received a statement for taxes due approx XX/XX/XXXX. totaling {$3800.00}. I forwarded this information to them because they said they had not received it. I have information from the appraisal district showing that they had received the statements. On XX/XX/XXXX they show that they paid {$2400.00} of the taxes due, leaving a balance owed on taxes of {$1400.00} which is the parcel that includes our home ( homestead ). At this point there is a balance of {$3600.00} in the escrow fund. The previous month, because I had decided to exclude the payment of casualty insurance to be made from escrow funds, they arbitrarily decided to increase my escrow payment from {$880.00} to {$1000.00}, each month. So, if I continue to send them Principle, interest and the escrow amount of {$1000.00} for the additional months of XX/XX/XXXX and XX/XX/XXXX I will have an excess of {$4600.00} in the escrow account. The reason we refinanced was so that we could try and pay off back taxes and reestablish our credit. This is becoming increasingly difficult to do when we must contribute even more to our escrow account of {$1000.00} when there are ample monies available at this time to take care of the obligations they must pay in taxes. Quite frankly, we feel violated by this company, Ditech, ( formerly Greentree ) considering the fact that there is much more than enough monies to meet their obligations for taxes owed. In speaking to the company that manages their escrow payments ( XXXX, out of XXXX ) they seem to intimate that they need to hold back enough monies to make a payment to the casualty insurance company, XXXX XXXX XXXX. I checked with XXXX XXXX XXXX this afternoon and they assured me that the only thing that Ditech has received from them is a " mortgagee notification '' which spells out the coverage that is on the property and in no way mentions any premiums that Ditech must pay at any point. I realize that they have just been bought out Greentree, who was the previous mortgagee, and that there may be some confusion in the different departments, however they should have worked out changes in procedures and processing. Each time I have called the escrow department I have received different and conflicting instructions on how and when I can request a review of the analysis. At this point it seems like it will be done at the point that it is the most convenient and advantageous for them. I am getting very leery of this company and how my account will be processed in the future, considering the XXXX + reviews of their company which have been published and which as far as I could surmise were almost all derogatory. There was no response from DiTech in a inquiry that was sent from the escrow servicing company ( XXXX ) to them and I assume that they will try and collect the {$1000.00} escrow payment for XX/XX/XXXX and XX/XX/XXXX.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with non-monetary relief