Consumer complaint received 2021-04-19
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: Caliber Home Loans, Inc. (VT)

Our mortgage with Caliber Home Loans XXXX sold to them, post closing ) included an adjustable rate, which was scheduled to change on XX/XX/XXXX, to the 1 year XXXX XXXX rate, 45 days prior, and then fixed for 1 year. 

On XX/XX/XXXX, XXXX increased our payment from {$1300.00} to {$2300.00}, without notice, citing an interest rate change, after the fact. Since we were on auto-charge, this caused an overdraft in our checking. Their online system still reflected the same rate of 3.50 %, so we have no idea what the heck happened. After multiple contacts with their customer service area ( 9 prompts, just to get to someone ), they corrected the payment amount and sent us a check back, for the difference. Didn't help the OD problem, but hey, thats not their problem, I guess. Never received an explanation, or an apology. We immediately removed the account from auto-charge. 

Fast forward to this year, and we are waiting on a notification of our new interest rate XXXX which would be reduced XXXX, and nothing shows up. Having contacted their customer service area, and getting no-where ( all they do is " open a request, and we will respond in 5 days XXXX, I used their message center on XX/XX/XXXX to inform them of the details of their contractual agreement. then I was forced to call on XX/XX/XXXX ( XXXX ID XXXX XXXX, and it was " escalated ''. On XX/XX/XXXX, I received a VM, instruction me to call AGAIN. XXXX ID XXXX claimed that our mortgage had been updated, in accordance with the documents, but I have not received any confirmation of that. She claimed she would send an email, which we have not received. The online information is still the incorrect. 

I then sent another message, with this information, on XX/XX/XXXX. Then on XX/XX/XXXX, they changed the payment to over {$2500.00}, when a REDUCED interest rate would REDUCE the payment. I have no idea what kind of metrics they used but amortizing the outstanding balance of {$78000.00} at $ 2.75 % ( according to teller # XXXX ) over the remaining 25 years of the loan gives a P & I of {$360.00}. 

Another call claimed that they would correct this, and they then put the payment back to where it was, but had still not changed the interest rate. On XX/XX/XXXX, I entered their online system, and it reflected a 2.5 % rate XXXX correct, based on when they pulled the 1 year XXXX from the XXXX XXXX, and a reduced payment of {$1300.00}, which is actually a correct calculation. I took a screen shot of that information, because they have proven they are untrustworthy. 

Naturally, when we received our bill for XX/XX/XXXX, it was back to the previous payment amount of {$1300.00}, and now the online system has also been changed BACK to the 3.5 % interest rate. 

I have sent them another message this morning ( " we will get back to you in 5 days '' ), but I have no faith in their ability ( or desire ), to adhere to our contractual agreement. Now, they will also have to backdate the rate change and make an adjustment to the interest accrued on the loan. I am pretty sure that may be beyond their ability or desire. 

Please, I need some outside help, to force them to adhere to their contractual agreement.