Consumer complaint received 2022-12-05
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: AmeriHome Mortgage Company, LLC (AR)

About XXXX years ago, I refinanced my home with a local bank. Upon the refinance I asked the mortgage banker if there was anything I needed to do in the process. I was assured that if I e-signed all the documents that were sent to me everything else would be handled. Apparently that was not the case. When my loan changed lenders, my insurance company was not notified. As a result they dropped my insurance. My loan was sold to another company after the local bank completed the re-fi. They did not have an active insurance policy on hand so they took it upon themselves to get me a new one and added the policy amount to my XX/XX/2022 payment which made my payment for the month almost {$500.00} more than normal which I was not prepared for. I was unable to make the payment and shocked to see that it had gone up so much. I immediately contacted the company and that's when they explained they didn't have any insurance on file for me. I then immediately contacted my insurance broker and they stated they would work right away to get my policy back. They had received approval from the previous company to reinstate it and were waiting for payment from my mortgage company to complete the transaction. My mortgage company never sent the payment after weeks of my broker requesting it. For nearly the next XXXX weeks I went back and forth between the insurance broker and the mortgage company trying to figure out why nothing had been resolved so I could make my normal payment. After getting both the mortgage company and the insurance broker on the line at the same time, the mortgage company finally said they hadn't sent payment because the broker never sent an invoice, and the broker stated that on ALL the previous calls that were made, it was never stated that was needed. This was nearly XXXX weeks later. I made every effort to keep everyone necessary in the loop about what was going on but the mortgage company proceeded to report my payment as late for the month of XXXX. Since then they have put me on a repayment plan but continue to report late payments for my mortgage which has lowered my XXXX XXXX over XXXX points since XXXX and now it's affecting my ability to get loan financing to purchase another home. I requested a review of the credit reporting to have it removed. I received a letter from them stating it's still under review but no determination has been made. This whole situation has been a huge inconvenience. The whole reason I refinanced was to lower my monthly payments and because of the poor communication from my mortgage company to my insurance broker my payment has significantly increased monthly. My broker was unable to reinstae my old insurance policy as the company it was using required payment by a certain time that had not been honored due to my mortgage company not following through with the payment in a timely fashion. I had to get insurance on my own which was XXXX times more expense than my previous policy because there had been such a long break in my coverage. I would like the negative reporting to be removed expeditiously so that I can move forward and not be negatively impacted financially.