Consumer complaint received 2016-05-25
Product: Mortgage — FHA mortgage
Issue: Loan servicing, payments, escrow account — 
Company: JPMORGAN CHASE & CO. (LA)

I recently completed a loan modification with Chase Bank for my current mortgage. And while I was happy with the ultimate results, I am extremely dissatisfied with the manner in which my monies were used during the process. In addition, I never really got an explanation into where exactly the monies went. 
During the loan modification process, I sent in my monthly " trial period '' payments as required. When I received my monthly mortgage statements, it showed the payments and where those monies had been applied. 
Then, after the entire process was over, I received a statement which showed that most of the funds which had been previously " applied '' were now " unapplied '', and there was NO accounting for these funds anywhere on my statement. The total amount of funds which were unaccounted for was {$1200.00}. 
When I called to find out about the " missing funds '', I was told that they would need to do further research. Then I received a letter stating that those funds had been used to pay for back interest and escrow as stated in the loan modification agreement. So I called back and asked why this was never shown on my mortgage statements. I was told that those funds were part of the loan modification process, and would not show up on the mortgage statements. 
So this is my concern ... how can a mortgage company ( or bank ), receive monies from you for a mortgage, and not explain where your funds are being applied. I made several phone calls to Chase Bank, and got the same information each time. 
And while I understand that I owed for back interest and escrow during the " trial period '', I was NEVER informed of exactly how much that was, nor was it ever shown on ANY of my mortgage statements. I have to question why the funds were applied during the trial period process, and then unapplied later. And why do those funds NEVER get accounted for on ANY of my future statements. As a consumer, I deserve to know where those funds have gone. 
In addition, shortly after the loan modification process was completed, my monthly payments were reduced again after an escrow analysis was done for my account. However, my current escrow balance is now ( - {$420.00} ) as of my XXXX/XXXX/XXXX statement. 
This shortage occurred due to an increase in my homeowner 's insurance policy. My policy increased from {$1500.00} in XX/XX/XXXX to {$1600.00} in XX/XX/XXXX. That is only a {$25.00} increase, so there is no way that their escrow analysis should have been that far off. In addition, if the previously mentioned funds were applied to back interest and escrow, why were there not enough funds applied to the escrow account? And how could the escrow analysis had that much of a discrepancy? 
I would like to know exactly where these " missing funds '' ( {$1200.00} ) were applied, and exactly how it was determined where those funds would be applied. Also, I would like to receive updated statements to reflect exactly where and how those monies were applied. 
I feel it is extremely unfair to me, as a consumer, to not be made aware of where these monies are being applied as it pertains to my current mortgage. ALL of this information should be available on my monthly statements. I do not understand how a mortgage company servicer ( or bank ) can apply and then unapply your payments, and then not be required to inform the consumer of where exactly those funds went.