Consumer complaint received 2020-01-19
Company: RoundPoint Mortgage Servicing LLC
State: MO
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
The mortgage servicing company Roundpoint purchased insurance without my knowledge or consent on a property that was already fully covered. They did not notify me prior to this taking place as required by their company policy. I have tried every possible way to correct this with the company ( through their portal, by phone and by fax ) and yet the account is still incorrect and they have not refunded the money to my escrow account. Below is a timeline : XX/XX/XXXX - Roundpoint took {$1100.00} from the escrow account to purchase hazard insurance for the property. Note that the property is a condo and there is a Master Association policy and our condo policy (XX/XX/XXXX), both of which were current. 

XX/XX/XXXX - I received a letter from Roundpoint dated XX/XX/XXXX stating that it is the second and final notice that they did not have an updated policy and that they would be purchasing hazard insurance on the property ( I never received a first notice ). Note that my annual mortgage statement reflects that they had already purchased insurance on the property in XXXX. 

XX/XX/XXXX I uploaded the XXXX policy through the portal listed on the letter : www.roundpointmortgage.com/insurance XX/XX/XXXX I received another letter dated XX/XX/XXXX stating that they had purchased hazard insurance on the property. I called the phone number XXXX and the operator indicated that they were missing the Master Association policy ( which runs XX/XX/XXXX to XX/XX/XXXX, while the XXXX policy runs XX/XX/XXXX to XX/XX/XXXX ). I had to contact the association to obtain a copy of theXX/XX/XXXX XX/XX/XXXX policy which took several days. 

XX/XX/XXXX I had received the policy and again uploaded to the portal. I waited a week or so to see if it had been cleared up. 

Approximately one week later I received an escrow analysis statement dated XX/XX/XXXX that indicated there was an escrow shortage ( caused by the {$1100.00} that was stolen by Roundpoint from the escrow account ) and that I would have to pay the shortfall in full or my mortgage payment would go up {$210.00} per month. I uploaded the policy again and then called to check on it. 

XX/XX/XXXX I called and spoke with XXXX who advised that the portal where I had uploaded the policy numerous times was a few weeks behind and that I should fax the policy instead and check back 48 hours later. I faxed the policy XX/XX/XXXX and called back XXXX the XXXX and XXXX  the XXXX. In both cases the account was still not corrected. 

XX/XX/XXXX I logged in and checked my account. They still show the lender placed insurance on the account and still have not refunded the {$1100.00}. 

I am at my wits end with this and I have done absolutely everything I can to get this straightened out. It is apparent to me that they are in bed with this company that was used to buy insurance for the property. It is obvious because when you log into the website, they try to sell you insurance. It is a complete conflict of interest and they are ripping me off. I have never had a late payment or lacked insurance. In addition we have a second house in the SAME NEIGHBORHOOD with the exact same insurance and that house has no issues.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation