Consumer complaint received 2021-03-18
Company: HOPE BANCORP, INC.
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
Bank of Hope Timeline XX/XX/XXXX Filled out Borrower Hardship Assistance Request Form. I received a call regarding my request but the terms were not helpful and I declined the program. 

My next statement I received in the mail reflected an Amount Due of {$0.00} as if I were enrolled in the program. I paid my mortgage on time as always. 

I am unsure how many of my statements arrived reflecting a balance for the regular {$3400.00} and how many arrived with a request for {$0.00}, but the statements were not consistent. 

XX/XX/XXXX XXXX XXXX mailed me a letter stating The mortgagee on your policy has not paid the premium due to keep your policy in force. Please make the payment below to void lapse in coverage. I was told my policy would be canceled effective XXXX XXXX if the balance was not paid. 

I called Bank of Hope and was unable to get the woman on the phone to understand my problem. I decided it was best to go through my insurance company and have them discuss with Bank of Hope. 

XX/XX/XXXX XXXX XXXX mailed a notice of new coverage effective XXXX. The policy was {$160.00} more than my old policy. 

XX/XX/XXXX Bank of Hope mailed a letter informing me According to our records, your hazard insurance policy is about to expire. We have reached out to your agent and/or insurance company and have been unsuccessful in obtaining a renewal or replacement policy. etc. 

Again, I phoned my insurance company. They assured me all had been rectified. That Bank of Hope must be behind on their paperwork as XXXX XXXX had indeed spoken with them about the issue. 

XX/XX/XXXX Bank of Hope mailed another letter informing me Because hazard insurance is required on your property, we plan to buy insurance for your property. 

I called my insurance company again. I began making myself a regular visitor to my local Bank of Hope branch complaining. Supposedly the issue had been handled. 

XX/XX/XXXX I received an Escrow Activity Summary from Bank of Hope. In XXXX of XXXX, Bank of Hope had sent {$2300.00}, the cost of my old insurance policy, to XXXX XXXX. In XXXX of XXXX, Bank of Hope also sent {$1900.00} to XXXX XXXX. I do not know what this was for. 

The Escrow Projection Summary reflected this extra money as part of the total amount for my Homeowner Insurance for XXXX. {$4300.00} for a {$2500.00} policy. 

XXXX XXXX sent me a check for $ XXXX the amount of the mystery check sent to them on my behalf minus the $ XXXX the difference between my old and my new policy. 

My new payments for my mortgage due XX/XX/XXXX are now {$3900.00} to reflect a homeowners policy amount that does not exist. 

I have walked into the local branch numerous times as their customer service is absolutely useless. The bank manager there sent an email to a XXXX XXXX who was tasked with figuring out this mess. He did not get in touch with me for a week because, as his message said, the email he received was in XXXX and he does not understand XXXX. Bank of Hope is a XXXX  bank. 

At the beginning of XXXX, I finally spoke with XXXX XXXX. He was very kind and seemed to understand my issue. He said he would figure it all out and get back to me as soon as possible. 

He did call back and I was unable to answer so he left a message with a contact number. I called this contact number at least 10 times and he was not in the directory, there was no operator available, and/or I was disconnected or the phone would ring once and give a busy signal after. 

I have not spoken to him since. 

I received my latest Bank of Hope statement. Instead of {$3400.00}, it says I owe {$3900.00}. This is absolutely incorrect. 

I received my latest Bank of Hope statement. Instead of {$3400.00}, it says I owe {$3900.00}. This is absolutely incorrect. 

I was finally able to get in touch with XXXX XXXX on XX/XX/XXXX. He assured me he would work on my issue and get a result to me before XX/XX/XXXX which is the last day I can submit my payment without incurring a late charge. 

XX/XX/XXXX I called XXXX XXXX and left a message on his cell phone. 
I called Bank of Hope and spoke to a XXXX who said there were no supervisors in the office at the time and she would have to take my information and have someone call me. 
I chose to pay my old amount of {$3400.00} to avoid missing a payment. When I logged into my account, my balance due was listed as {$0.00}. 

Today is XX/XX/XXXX. I have not heard from anyone. 

I am just at the end of my patience with this bank. They have cost me time and money and I am XXXX. I am struggling to pay my mortgage as it is because of loss of work due to Covid 19 but I have never missed a payment. My credit score is XXXX. 

I dont know what to do anymore. 

XXXX XXXX

Company response to consumer: Closed with explanation