Consumer complaint received 2017-08-09
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: NATIONSTAR MORTGAGE LLC (CA)

Nationstar Mortgage LLC Attn : Customer Relations XXXX. XXXX XXXX XXXX, TX XXXX XXXX XXXX Customer Advocate Manager Nationstar Mortgage LLC XXXX. XXXX XXXX XXXX, TX XXXX XXXX : XXXX E-mail : XXXXXXXXXXXX XXXX XXXX CA XXXX XXXX XXXX, XXXX Loan XXXX Reference Number XXXX RE : Removal, Suspension or Postponement of Sale Date to validate the amount owed and reinstatement of workout options proposed. Dear Nationstar Customer Relations : Please take this letter as a Written Qualified Request under the Real Estate Settlements and Procedures Act. We respectfully request the removal, suspension or postponement of the pending sale date of XX/XX/XXXX because we are disputing the amount that is owed per the Mortgage Payoff Statement of XX/XX/XXXX and requesting a modification per the terms of the modification offered on XX/XX/XXXX and have provided a proposal which is sufficient to reduce the monthly payments. We received a letter via secure email from Nationstar dated XX/XX/XXXX with an RE : Nationstar Reference Number XXXX signed by XXXX XXXX, Customer Advocate Manager but none of the following enclosed documents noted in the second paragraph of that letter such as the Note and Security Instrument, Payment history, HUD-1, payoff quote or Notice of Servicing Transfer. We never received this letter or accompanying documents via regular US mail. We respectfully request that you prepare the above documents and deliver them to us via the secured website you have for our account at https : //www.nationstarmtg.com or by certified mail or other traceable form of mail as we have had numerous issues in receiving mail when you have stated you have sent us mail. Additionally on the second page of the letter from Nationstar dated XX/XX/XXXX with an RE : Nationstar Reference Number XXXX, you say in the second paragraph, Please note will not be able to assist with any of these matters and we would like clarification as to what this sentence means. During the last review for loan modification, in which our income and expenses you state were not used the ambiguously worded denial letter stated that a third part valuation was developed and used, and we did not receive a copy of that evaluation and are hereby requesting it again just as we did in our previous letter on XX/XX/XXXX but never received a copy via email or in the mail or posted to the secured Nationstar website. We are also again requesting to know why the loan modification request of XX/XX/XXXX was denied when it was approved on XX/XX/XXXX since all of the payments were saved up since XX/XX/XXXX which amounts to approximately {$26000.00} available today for Nationstar to provide as our contribution towards a loan modifications arrears and lender paid advances. We request a detailed breakdown of the lender paid advances, escrow advances, legal fees and county recording fees. We are also requesting to know why income and expenses were not used for the modification evaluation as this would seem to be incongruent with making a loan modification that would be successfully performing for the investor of this loan and affordable for the borrower. We are also requesting to know why the payment could not be reduced during the request for modification, is this an investor rule or a Nationstar rule? We are ok with keeping the same payment or increasing it because my husband and my income has recovered since our hardship that caused us to fall behind on this option adjustable rate mortgage. We were told verbally by your representatives that we could not get a loan modification because we were too far behind on our loan, despite all the delays being Nationstars fault. We are also requesting to know what the net present value loan modification input data was used for the loan modification evaluation as well as the output results that your systems generated for the loan modification review that resulted in a XX/XX/XXXX approval under that HAMP Streamline offer. The investor of the loan that you provided in the XX/XX/XXXX letter states the investor is XXXX XXXX with the trustee being : XXXX XXXX XXXX, XXXX. as Trustee XXXX XXXX XXXX XXXX XXXX XXXX XXXX, MA XXXX E-mail Address : XXXXXXXXXXXX But this is not what is recorded in public records, nor in the XXXX XXXX XXXX XXXX ( XXXX ) nor in any correspondence from Nationstar in our online account or via mail. We are disputing that the investor of our loan is SARM XXXX and believe that the investor of our loan would benefit from a loan modification by recouping the principal and past due along with future interest payments over the remaining 214 months of our loan per your guidance in the letter from Nationstar dated XXXX with an RE : Nationstar Reference Number XXXX. We dispute the information Nationstar has provided and believe that you are incorrect in asserting that the investor is the above named entity since nothing has been recorded in public records or the XXXX XXXX XXXX XXXX to validate this fact. The funding of our loan was not in the name of the above investor and we have had several servicers since we funded our loan and have never been told our investor trustee is XXXX XXXX XXXX, XXXX. or given an opportunity to discuss our loan directly with them. Nationstar, which you state is working on behalf of XXXX XXXX XXXX, XXXX. as Trustee for XXXX XXXX was willing to increase our payments on our loan due to the delinquency because on XX/XX/XXXX, Nationstar generated a modification plan that increased our payments from {$2500.00} to {$2900.00} but was this was never received by us in time and we have provided evidence of this modification offer in our last correspondence. However, in your letter from Nationstar dated XX/XX/XXXX with an RE : Nationstar Reference Number XXXX you state on page 3 that our Fully Amortized Pre Modification P & I is  {$3000.00} and our mortgage statement as of XX/XX/XXXX show the payments being {$2500.00} fully amortized, consisting of {$1000.00} principal and {$1500.00} interest each month. These fully amortized payments change on the other mortgage statements we receive each month. We requested a Mortgage payoff quote and one was generated on XX/XX/XXXX with an investor number of XXXX. The interest calculated from XX/XX/XXXX to XX/XX/XXXX is {$100000.00}, late fees of {$470.00}, lender paid expenses of {$15000.00}, escrow advances of {$53000.00} and legal fees of {$12000.00} and county recording fees of {$50.00}. This total amount is {$180000.00}. We request detailed accounting of these numbers, the dates incurred, the amounts incurred on those dates and the reasons why they were incurred. In your letter from Nationstar dated XX/XX/XXXX with an RE : Nationstar Reference Number XXXX you state on page XXXX that our Post Modification Unpaid Principal Balance ( UPB ) is {$630000.00}, yet the mortgage payoff statement of XX/XX/XXXX shows the total amount with principal balance and the {$180000.00} from the last paragraph equaling {$660000.00}, a difference of {$23000.00} more in less than a month. This is unacceptable and baffling and leads to further doubt about Nationstars handling of the loan modification request evaluation, billing practices and amounts owed. We received the modification offer in XX/XX/XXXX only after calling Nationstar and asking why this offer was never delivered in a timely manner. Your representatives stated that the offer was made via certified US mail to our previous address, yet no proof of this certified mail was ever offered. Your representatives never offered to take the mortgage trial period plan payments in XX/XX/XXXX so we could be permanently modified and this was an option. Perhaps this is because it was to Nationstars benefit to keep the loan delinquent and have that HAMP program expire at XX/XX/XXXX. In that case of the streamline modification, the payments went up and we were ok and remain ok with getting those payments and have been asking for similar Trial Period Plan payments since our combined household income can sustain a payment around {$3000.00} to {$4500.00} per month. Please know we want to keep our home and can make our regular monthly payments and request a capitalization of the arrears and advances made on our behalf for our loan and would like this information shared with the investor of our loan, after verifying who the investor really is and accurate accounting for what is owed and advanced by Nationstar. When we last wrote to you on XX/XX/XXXX adding our unpaid principal balance of {$470000.00} plus the {$220000.00} that is the total amount due from the servicing overview page at www.nationstarmortgage.com the total amount becomes {$700000.00}. However, we have come to now find out this amount is inaccurate and we demand an accurate and detailed itemized breakdown as to what is really owed. Today, we find out that as of XX/XX/XXXX there is only {$660000.00} in total amount owed to pay off this loan and we dispute this amount. On the Mortgage Payoff Statement of XX/XX/XXXX, it states there is an amount owed of {$12000.00} in attorneys fees, an increase of {$12000.00} since the XX/XX/XXXX payoff quote and we dispute this amount as being owed on our account as we never agreed to this and it is not reasonable since no attorneys have tried to mediate the dispute we have with Nationstar during this period of XX/XX/XXXX to the present or from XX/XX/XXXX until now. We have money saved up to put towards the arrears or lender paid expenses as well in the amount of nearly {$30000.00}, but want a detailed accounting of the XX/XX/XXXX MORTGAGE PAYOFF STATEMENT as to why and how the following are listed and an itemized detailed accounting of each along with detailed description of each : Interest calculated from XX/XX/XXXX to XX/XX/XXXX of {$100000.00} since this is an adjustable rate mortgage, Late fees of {$470.00}, Lender paid expenses at {$15000.00}, Escrow Advances : {$53000.00} Legal Fees : $ XXXX County Recording Fees : {$50.00} Please verify in writing that the investor of the loan will allow a modification under specific rules and limitations, and what these rules and limitations are specifically. We were told by your representative that since we are so far behind and the floor interest rate is 4.00 % then the investor can not create a payment that is lower than the fully amortized option ARM payment from XX/XX/XXXX and we would like to know exactly what the requirements are for achieving a loan modification under the investors rules. We want verification that the floor rate of a loan modification is 4.000 %. If this is the case, and it is in fact verified that our Amortization Duration is 214 months, then the following proposal makes sense : Fully Amortized Pre Modification P & I : {$3000.00} ( please validate if this is correct or {$3000.00} is correct ) Post Modification Unpaid Principal Balance : {$660000.00} ( this amount is in dispute per reasoning and requests above but used for this proposal ) Value used in modification review : {$830000.00} ( Still need copy of this valuation since no appraisal was conducted ) Amortization Duration : 214 months ( this is in dispute since we dont have the payment history or the Note ) Post Modification Interest Rate : 4.000 % ( we are ok with this interest rate ) Post Modification P & I : {$4300.00}. We can afford this payment. However, if we contribute {$25000.00} towards reducing our principal balance from our savings and all of the {$180000.00} from the mortgage payoff statement is deferred as a balloon payment to the last payment of the loan in month 214, and then we have : A new Post Modification Unpaid Principal Balance of : An interest bearing principal balance of {$450000.00} and deferred {$180000.00} and a new Post Modification P & I of {$2900.00} which is lower than the {$3000.00} you stated in the XX/XX/XXXX letter and closer to the {$2900.00} that was from the Streamline modification offered XX/XX/XXXX but not mailed out from Nationstar until XX/XX/XXXX and not received by us until approximately XX/XX/XXXX. Please remove the sale date of XX/XX/XXXX and provide us with a detailed accounting of the above and take our proposal to the correct investor for our loan or make offer it to us yourself or something similar based on the remarkable circumstances surrounding this loan. Sincerely, F.M. cc : Consumer Financial Protection Bureau, XXXX, XXXX. Attached : XX/XX/XXXX monthly statement showing {$2500.00} is the amount due for regular monthly fully amortized payments ; the Trial Period Plan date XX/XX/XXXX that shows the payments that were offered were {$2900.00} ; Mortgage Payoff Statement from XX/XX/XXXX Mortgage Payoff Statement from XXXX XXXX Mortgage Monthly Statement from XX/XX/XXXX XX/XX/XXXX letter from Nationstars XXXX XXXX