Consumer complaint received 2024-10-22
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: RoundPoint Mortgage Servicing LLC (FL)

FEMA redrawn the map in my neighborhood and it was determined to be a flood zone. Round Point Mortgage Servicing LLC sent me a letter dated XX/XX/XXXX but which i received XX/XX/XXXX stating that i needed to get flood insurance as per Floor Disaster Protection. 
I proceeded to contact my insurance agency and got a flood insurance as per their request. As per the agent and the insurance company, the policy wont become effective for the next 30 days which will be XX/XX/XXXX Roundpoint Mortgage Servicing received the policy information for payment and they proceed with payment which i saw as well because i got an email confirming that an " Escrow payment '' for the amount of the policy was made. 
About a week and half later, i received a letter stating that i needed to purchase flood insurance. Although i knew they had paid it, i called the number on the letter and explained to the person that i already purchased the policy and the lady was able to see that i had done so. 
However, the lady stated that my insurance policy needed to be backdated to XX/XX/year> which was even prior to them even drafting the letter that they sent to me. I explained to them there was no way to back date the policy and the lady told me they were going to force place their insurance on my behalf XX/XX/year> i received a letter confirming they purchased the insurance even though i had already purchase mine with the intent to charge me a crazy premium being aware of the policy i had purchased. 

There are a couple of problems here. 1 ) They are not recognizing my policy and 2 ) they are stating my policy needed to be backdated before i was even notified by them which is not possible. I read only and i know that is nott correct as there is a 45 day window ( see quoted text below coming from XXXX XXXX XXXXXXXX ) from the date i was notified for me to obtain a policy, yet they are choosing to ignore it on purpose. 

" Notice and purchase of coverage. If a national bank or Federal savings association, or a servicer acting on behalf of the bank or savings association, determines at any time during the term of a designated loan, that the building or mobile home and any personal property securing the designated loan is not covered by flood insurance or is covered by flood insurance in an amount less than the amount required under XXXX, then the national bank or Federal savings association, or a servicer acting on its behalf, shall notify the borrower that the borrower should obtain flood insurance, at the borrower 's expense, in an amount at least equal to the amount required under XXXX, for the remaining term of the loan. If the borrower fails to obtain flood insurance within 45 days after notification, then the national bank or Federal savings association, or its servicer, shall purchase insurance on the borrower 's behalf. The national bank or Federal savings association, or its servicer, may charge the borrower for the cost of premiums and fees incurred in purchasing the insurance, including premiums or fees incurred for coverage beginning on the date on which flood insurance coverage lapsed or did not provide a sufficient coverage amount. ''