Consumer complaint received 2018-06-15
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: ARVEST BANK GROUP, INC. (TX)

Our XX/XX/XXXX statement reflected an increase of {$210.00} without any advance notice nor reason. I called XXXX XXXX XXXX at XXXX on XX/XX/XXXX, to determine why and I spoke with a young lady who explained our taxes had gone up {$200.00} and insurance {$700.00}! I corrected her and informed her we had changed insurance companies from XXXX to XXXX which had, in fact, reduced our insurance significantly. She stated their analysis had been prior to the change and requested a new one. I inquired if the overcharge would be credited to my principal or what and was informed the overcharge would as is. This is, as you well know, illegal. When I stated as such, I was ignored. The results of the new analysis were still over {$1400.00} per month, an increase of {$170.00} which is entirely unacceptable and incorrect. 

I wrote them on their on-line email mid-XX/XX/XXXX and requested arbitration to resolve this matter, receiving a return email form letter stating the matter is being researched. I emailed again on XX/XX/XXXX, requesting arbitration for a second time and explaining the math since their accounting people can not seem to do it correctly. Even if our insurance had remained the same, the increase of taxes would increase our monthly payments only {$16.00} per month, NOT {$170.00}. 

After receiving a hard copy letter XX/XX/XXXX, I replied via email once again confirming receipt and once again explained the math behind figuring out the correct payment amount. In addition, since paying on-line only provides the choice to pay the amount they demand instead of any other option, I informed them future payments will be via USPS mail and by check. I sent in my XX/XX/XXXX payment with a cover letter explaining the correction in the amount they demand by explaining I used the possible increase of {$16.00} added to the previous year 's monthly amount and subtracted the over-charge from XXXX resulting in the amount of {$1000.00}. I also informed them, yet again, the decrease in our insurance was much more than the increase in taxes and our monthly payment should have decreased, not increased at all. 

I shortly thereafter received a letter via USPS dated XX/XX/XXXX, informing me they were in receipt of my funds, but they would not be applied, which, once again, is illegal since it is against the law to refuse legal tender in payment of a debt unless it is less than 40 % of the amount due. I also noted on my bank site, the funds had been cashed. So, they accepted the funds, but are refusing to apply them to my account. Having spoken with a Loan Officer of 17 years experience, I was informed of the illegality of their actions as well as made to understand the typical practice of " shady '' loan companies is to " Slow Walk '' the resolution to such an issue so they can attempt to add on late fees if the issue is not resolved by the normal " late date. '' After receipt of Arvest 's letter of XX/XX/XXXX, I responded via their on-line email once more on XX/XX/XXXX, and restated my issues, pointed out the illegality of their actions, requested arbitration for the third time, and informed them should they attempt to slow walk resolution, I would be taking legal action against them. I provided my attorney 's name and location as well as cc 'd him on the email letter. 

I received another email form letter response on XX/XX/XXXX, stating they are taking this matter seriously and researching it. I had contacted my insurance carrier to obtain exact amounts and received a response XX/XX/XXXX, stating the XXXX amount had been {$2100.00} and the amount with XXXX was {$1400.00}, a decrease of {$610.00}. Thus, our monthly payments should have decreased {$34.00} per month, not increased.