Consumer complaint received 2016-04-26
Company: Dovenmuehle Mortgage, Inc.
State: NE
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
This complaint relates to the final administration of a {$200000.00}, 15 year fixed interest rate conventional mortgage, # XXXX, most recently held by XXXX, hereafter referred to as XXXX. The mortgage originated with XXXX XXXX XXXX XXXX, Nebraska. The monthly payment of {$1500.00} was due beginning XXXX/XXXX/XXXX. In XXXX, the Office of Thrift Supervision closed XXXX XXXX. XXXX XXXX XXXX assumed the mortgage ; soon afterward the mortgage was transferred to XXXX against whom this complaint is lodged. 

During the life of the loan, all payments were made on time, and additional payments were made toward the principle as permitted under the terms of the mortgage. However, when XXXX assumed the mortgage we stopped additional principle payments, having no personal connection to XXXX to track these additional payments. Our records agreed with the outstanding principle when XXXX assumed the mortgage. In XX/XX/XXXX we made what we believed was the final payment of {$1800.00} based on the amount shown on XXXX 's XXXX statement. However, in XX/XX/XXXX we received an additional statement showing we still owed {$7.00} plus {$0.00} interest - which we paid. It cleared our bank on XXXX/XXXX/XXXX, 4 days ahead of XXXX 's due date. Then, our loan balance should have been {$0.00} as indicated by XXXX 's own statement. 

And then the problems began ... 

After not hearing from XXXX concerning the release of the mortgage and deed, we contacted XXXX. After establishing the fact that this final payment had cleared our bank, XXXX told us that we still owned {$26.00} for filing fees plus a {$79.00} late fee on this filing fee. After discussion with an XXXX representative, we agreed to pay the {$26.00} filing fee ; the late charge on filing fees was waived. We agreed to pay the filing fees even though the original loan documents, which we hold, do not disclose any filing fees. When asked why we were not informed of these filing fees, we were told that " most people '' contact XXXX when they close their loan and they are disclosed at that time. We assume that a financial institution would recognize that a loan is closed when the loan balance goes to zero and then contact the client should any further issues require attention. Rather, XXXX demanded a filing fee that was never disclosed nor billed, plus a late fee for not paying a fee that was never disclosed. In any event, with the late fee waived, we mailed our check for the {$26.00} filing fee on XXXX/XXXX/XXXX. 

Yet, on XXXX/XXXX/XXXX we received another statement showing the {$7.00} still outstanding in addition to another {$79.00} late charge. On the same date, under separate cover, we received another letter from XXXX abating the {$79.00} late charge with the strong warning that this was the only time it would be abated. Again, the {$7.00} cleared our bank on XXXX/XXXX/XXXX, 4 days ahead of XXXX 's due date. So, we called XXXX yet again to establish that the loan was closed. 

And yet things got even worse ... 

During the call, on XXXX/XXXX/XXXX, we were told not only do they not have a record of the {$7.00} being paid but that we owe another full month 's payment of {$1500.00}. Clearly a fraud was being perpetrated or their loan administration was grossly lacking. 

We are well educated and financially savvy. Both of us are college educated with XXXX hours. We have successfully owned our own business for over 35 years. XXXX our children are XXXX educated. Given our educational background, I pity the less sophisticated, less educated, or more elderly having to deal with XXXX. The odds of this happening on just our mortgage are infinitesimal. Clearly, some sort of regulatory investigation and oversite is demanded.

Company response to consumer: Closed with explanation