Consumer complaint received 2015-06-25
Company: Ditech Financial LLC
State: MD
Product: Debt collection
Sub-product: Mortgage
Issue: False statements or representation
Sub-issue: Attempted to collect wrong amount

Complaint:
Back on XXXX XXXX, XXXX I took out a mortgage for 30 years with XXXX XXXX Mortgage with it being transferred to Green Tree around XXXX XXXX, XXXX. The first 10years/120 are Interest only at 5.5 % with the rest of the loan, 20 years/240 months an Adjustable rate. On XXXX XXXX the XXXX change date of the Mortgage has the rest of the loan based on the current Index for the one-year-LIBOR rate. The Note Holder calculates my new interest rate by adding 2.250 % points to the Current index, then round the result of this addition to the nearest 0.125 %, subject to the limits of no less than 2.250 % and no greater than 10.500 %. Then the Note Holder then determines the amount of the monthly payments for that year that would be sufficient to repay the unpaid principal of what I am expected to owe at the Change Date in full on the Maturity Date of XXXX XXXX with limits on my interest rate would not be greater than 10.500 % for the first Change Date. Thereafter my interest rate would never be increased or decreased on any single Change Date by more than 2.000 % from the rate of interest I have been paying for the preceding 12 months and the interest rate would never be more than 10.50 %. 
My Mortgage document does state that I am supposed to receive a document with my new current rate 45 days before the change date, XXXX XXXX. Green Tree Servicing LLC did send me a document with the New Rate which I received just after XXXX XXXX, XXXX. The information on that document has correct and incorrect information ( please see attachment XXXX ) Monday, XXXX XXXX, XXXX I received my statement for XXXX XXXX with the amount I owe of {$22000.00} and that it is due by XXXX XXXX, XXXX and it still had my old interest rate of 5.5 %. The next day, Tuesday, XXXX XXXX, XXXX I called Green Tree and asked about the errors of {$22000.00}, the old interest rate of 5.0 % in XXXX 's statement, and the errors on the change document. After checking with the supervisor I was told that they have to investigate. Friday, XXXX XXXX, XXXX I called Green Tree Servicing LLC back since I had not heard from the supervisor like I was told. This time I spoke with XXXX and brought her up to date. XXXX did see that I had called in Tuesday, XXXX XXXX, XXXX and told me she was now putting it in for a review/investigation. I asked her was n't that already in the notes and she said all that was in the notes was for a supervisor to call me back. I was asked this time to Fax the information I had which I did this same day to the number provided. Since then I have kept in touch with Green Tree. Monday, XXXX XXXX, XXXX I called asking for an update on the investigation and I was told that they had sent out a letter XXXX XXXX, XXXX stating that the accelerated payment of {$22000.00} was incorrect and that my interest rate is 3.000 %, also they said that my credit report is correct and if it is not to send the information to them. As of XXXX XXXX, XXXX, I have yet to receive the letter sent XXXX XXXX, XXXX and that for the credit report information, Green Tree Servicing LLC got it back on XXXX XXXX, XXXX ( Faxed ) and XXXX XXXX, XXXX ( Sent to them ). I have received a letter stating they are investigating, but I have yet to receive the letter sent back on XXXX XXXX, XXXX, stating that the information of accelerated payment of {$22000.00} was incorrect and that my interest rate is 3.000 %. 
Attachments : *CFPB_Full_Letter ( Too much to enter online ) Letter Faxed to Green Tree Servicing XXXX XXXX by Certified Mail to Green Tree Servicing LLC with return XXXX Faxed and XXXX XXXX XXXX XXXX New Info ) XXXX

Company response to consumer: Closed with non-monetary relief