Consumer complaint received 2017-08-13
Company: RoundPoint Mortgage Servicing LLC
State: VA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
RoundPoint Mortgage Servicing Co. XXXX XXXX XXXX XXXX, NC XXXX IS MY MORTGAGE COMPANY SMARTER THAN A 5TH GRADER? WHATS THE ISSUE? In a nut shell my mortgage company, RoundPoint Mortgage, drained my entire escrow account in XX/XX/XXXX, refused to admit in doing so, refused to inform me in writing, refused to make correct per their written welcome letter ( after they assumed my existing mortgage ), and a failure to correct my escrow account even after owner funds were received. Wow So nothing has gone right. Lets explore the details. What Happened? In XX/XX/XXXX RoundPoint Mortgage Servicing Co. assumed my mortgage. RoundPoint issued a welcome letter which stated, If your monthly payment currently includes escrow for taxes this will continue without interruption. XX/XX/XXXXRoundPoint issued a check for XXXX and stated there was an overage in my escrow account and were required by law to issue back those funds. In XX/XX/XXXX, RoundPoint issued a letter stating my escrow account has a shortage of XXXX and that I either paid that amount back or they will increase my mortgage. What Happened Next? On XX/XX/XXXX I called and asked to speak to manager. I was placed on hold for ( 2 ) periods at 10 minutes apiece and later disconnected. Then my request to speak to a manager we refused. Second attempt I was on the phone for nearly 2 hours in-which no RoundPoint representative could explain definitively what the problem was from. I was informed that the problem most likely was from an increase in my County Tax by {$3000.00} from XX/XX/XXXX. RoundPoint requested that I send them a copy of my payment history for the past year.
RoundPoint also requested that I send them a copy of my county tax bill. To Recap : Instead of identifying the problem within that 2 hours the representative told Me to research the problem after my day at work and e-mail him back the next day. My Research : As insulting as that was to tell me to provide them with documents it actually was a fascinating exercise. My county tax never increased a dime let alone XXXX as RounPoint claimed. I am convinced that RoundPoint knew what the issue was but refused to tell me on the phone ( hence being placed-on-hold multiple times ). RoundPoint internally provided their own Account Projections in XX/XX/XXXX. and determined at that time that I should only pay half of the county tax for XX/XX/XXXX year ; which projected an overage in my escrow account which they mail back to me. So to Recap : The account projections is their annual check ; in-which, they had all the information they needed from when they assumed my loan in XX/XX/XXXX. It is not a secret that County Tax is paid twice a year. In fact, I had to call RoundPoint on 2 separate occasions prior to this issue because I receive a letter from my local County that I was delinquent paying my taxes. RoundPoint told me on the phone if they were short any amount that they would remedy. Furthermore, its so hard to realize that County Tax could increase XXXX in one year and that would be their excuse to me is unethically. I called the next day XX/XX/XXXX, and I spent another 2 hours  explaining what the problem was and not the other way around. RoundPoint refuses to allow me speak to a manager. I had to explain that County Tax never changed and that RoundPoint failed to log in the yearly County Tax. RoundPoint failed to admit to an accounting error. Failed to recognize their own welcome letter that stated my contracted escrow will, continue without interruption. Poor Business Ethics : One respresentive with RoundPoint finally admitted that they failed to log in the County Tax correctly ; however, I was still responsible to pay {$2400.00}. for their accounting error. No other business would tell a customer that they had to pay for their accounting error 6 months later. No other business would tell a client to do their own research. No other business fails to tell the truth when a customer calls. No other business would fail to bring a manager to the phone. No other business would issue a letter stating that your escrow will continue without interruption, after they assumed a contract, and then not take Any Responsibility once an error was discover from their behalf. My Financial Hardship : I signed a legal contract when I purchased my home and that mortgage amount is a solid part of budget. After RoundPoint assumed my original mortgage they changed the legal terms of my contract to reflect their accounting error.
RoundPoint violated my mortgage contract.
RoundPoint has placed me in a financial hardship and I have no confidence that they will be able to correctly determine my escrow in future years.
RoundPoint never issued any changes to escrow in writing other than a letter stating I have a shortage amount and I have 4 weeks to make a decision. This accounting error has put my entire family of XXXX in a financial hardship ; including mental stress and anxiety. Conclusion : This is a simple 5th grade math error on account of RoundPoint Mortgage Co. ( County Tax / 12 months ) ; in-which, they had all the information they needed from when they assumed my legal mortgage contract. RoundPoint assumes no responsibility and has forced me into a financial hardship. How many countless others are affected by a similar issue ; which is why I have provided this open letter to be issued to so many other sources. Even after RoundPoint sent a XX/XX/XXXXa letter telling me that if I paid the escrow shortage in full then my monthly mortgage would revert back to the original amount prior this account debacle. However, our XX/XX/XXXX our latest statement was still incorrect for the monthly amount even after our escrow check had cleared. I had to call once more to verify that RoundPoint received our check and ask why my mortgage payment was incorrect. After a half hour on the phone they acknowledge the receipt and payment of my check but would not send a receipt or just and e-mail letter to verify that the check would be applied to my escrow shortage. Leaving me on rely on the word of a customer representative. How could this be acceptable after the lengthy problems I have had with RoundPoint Mortgage. This does not foster trust with me, the homeowner, nor does it demonstrate fiscal responsibility with my mortgage contract, taxes, and money. I have owned two other homes and never once did I have to call the mortgage company to request that they pay my county tax on time or to deposit additional funds due to their mishap.

Company response to consumer: Closed with explanation