Consumer complaint received 2022-11-16
Product: Mortgage — FHA mortgage
Issue: Trouble during payment process — 
Company: Guild Holdings Company (TX)

I purchased XXXX XXXX XXXX XXXX on XX/XX/XXXX. My monthly mortgage payment is {$1300.00} with a XXXX  XXXX  interest rate on a 30 year fixed note to include property, school and home owners insurance. I believe this should include all of XXXX tax expense since taxes could not be determined at the time of sale. Adjustments for items unpaid to seller on page 3 of 5 of the closing documents should indicate a credit. 

I contacted Guild MortgagXXXX on or around XX/XX/XXXX to ask what happened to my escrow. Guild Mortgage completed an escrow analysis of the account and told me they would need {$1700.00} to bring the account current. They said that the tax error on the account was corrected and that the {$1700.00} could be added to my monthly mortgage payments. They reassured me that it would no longer be an issue in coming years because everything was now resolved. My monthly payments were adjusted from {$1300.00} to {$1500.00}. I told Guild to spread the {$1700.00} out further which brought the monthly mortgage payment to {$1400.00}. This would be the actual monthly payment to date. 
XX/XX/XXXX I reviewed my mortgage account online and called Guild Mortgage to ensure escrow and estimated taxes were calculated correctly for the XXXX  year. XXXX and XXXX with Guild Mortgage stated that the projected tax was {$2100.00} and there was currently {$870.00} in escrow. I immediately questioned the accuracy of their escrow analysis from XX/XX/XXXX and asked what part of this information was not raising a red flag to them. XXXX requested a review from their tax department at that time. 
XX/XX/XXXX I called XXXX XXXX XXXX XXXX and spoke with XXXX. She confirmed that school tax for each year was electronically sent to Guild Mortgage thru a third party administrator called XXXX. I also spoke with the XXXX XXXX XXXX XXXX and confirmed that the homestead exemption was updated on XX/XX/XXXX. At this time I also filed a complaint online with the XXXX  XXXX XXXX and Mortgage XXXX. 

XX/XX/XXXX I spoke with XXXX from Guild Mortgage and she confirmed that school taxes were not active since XXXX. I asked her what that meant and she said thats a good question. I told her I knew exactly what that meant and that Guild Mortgage was neglecting to include the school taxes even though school tax information was received by Guild Mortgage from XXXX each year. At this time, XXXX provided their customer service email address and I personally sent the school tax documents for XXXX to XXXX. 

XX/XX/XXXX I spoke with XXXX from Guild Mortgage. She said that the escrow analysis was completed and that I could pay {$4400.00} in full or my new monthly mortgage payment will be {$1800.00} each month starting XX/XX/XXXX. XXXX said that this was spread out over XXXX months. I asked her what years were included in the escrow analysis. She confirm school taxes for XXXX and XXXX. I asked her about XXXX taxes and she said that they were not included in the analysis. I advised XXXX to request another new analysis because the calculations must include all taxes including school taxes for XXXX. I also asked her to explain what the original request for {$1700.00} was applied to since they were never including school taxes and she stated increases. I advised XXXX to show me where there was {$1700.00} dollars of increases for that year. XXXX could not provide that information. 

* XX/XX/XXXX XXXX with Guild Mortgage will send all escrow analysis to my email within 24 to 48 hours. I also spoke with XXXX from XXXX XXXX and she is sending my closing documents to XXXX XXXX XXXX XXXX of XXXX XXXX for further review.