Consumer complaint received 2021-05-29
Product: Mortgage — FHA mortgage
Issue: Trouble during payment process — 
Company: Caliber Home Loans, Inc. (SC)

Over the course of the last year Caliber Home Loans knew that there was an escrow shortage in my account and neglected to inform me that this was the case ; it was never disclosed to me either by phone, mail or email that there was an issue and that my payment would increase. 

On XX/XX/XXXX I went to pay my mortgage and found out that my payment had increased by over {$1000.00} from {$1800.00} the month prior to a new amount of {$2900.00}. I then found out that I would need to have my home listed as my primary residence with my county Tax Assessor in order to fix the issue and that I was being charged taxes at a 6 % rate when I should have been charged at a 4 % rate. When I called Caliber home loans I was told by the representative to make payments until I had everything situated with my county adjusting my tax rate and that I would need to call back and submit documentation showing that the tax rate had been readjusted. When this was submitted they would submit an escrow re-analysis and that any overages that were paid while at the 6 % rate would be refunded to me. 

I called the county tax assessor and found out that I needed to provide utility statements and other documentation as verification that I had lived in the home since closing on it in XXXX of XXXX. 

I obtained and provided those documents as well as many others to XXXX county tax assessors to prove what was needed to re-assess my taxes at my primary residence tax rate of 4 %. When providing these documents to XXXX County they retroactively adjusted my tax rate back through XXXX and provided documentation for me to submit to Caliber home loans for escrow re-analysis. 

When submitting the documents I was told that a case would be opened and they would evaluate and readjust accordingly. It was once again stated by the representative in the tax / escrow department that I would be refunded the overages from the mortgage payment on XX/XX/XXXX at the 6 % rate. I was also told that the escrow re-evaluation would be completed by the end of the month. 

On XX/XX/XXXX called Caliber again to see if the mortgage payment had been or would be re-adjusted and if I should pay the {$2900.00} payment since my payment is due on the XXXX of every month. I was told to call back on the XXXX. 

On XX/XX/XXXX I received a check in the mail from XXXX county in the amount that was over paid by Caliber Home loans for XXXX XXXX {$4500.00} ) On XX/XX/XXXX I reached out to Caliber yet again and found out that my payment had been re-adjusted to a new payment amount of {$2200.00}. I then explained that I received the check from the county and wanted to know how best to handle the over payment from the month prior ; whether I should deposit the check from the county and send them the difference from what was over payed and keep the rest in my account or if it they would need to issue a refund for the over payment. 

I was then told that I would need to remit the full check from the county as well as an additional amount of over {$100.00} and that there would be no refund for overpayment the month prior. 

I explained what was stated by both previous representatives and explained that just as the county retroactively refunded me for the year XXXX that this would be no different on their end. I stated that the difference between the payment I am now being quoted by them was a {$650.00} difference from what was paid the month prior and that amount needed to be remitted to me in one way or another.

The Caliber home loans representative placed me on hold 3 separate occasions each over 5 minutes. I asked for them to send me a breakdown of the escrow re-analysis to show where the over payment went if I was not to receive it back and somehow owed even more than what the county refunded. The representative then scrambling to get me off the phone sent me a payment ledger that was made for taxes and insurance for the prior year, information that showed nothing as to how I now owed more and was not being refunded for the overpayment made. I asked to speak with a supervisor several times and the representative did not transfer me. 

Certainly seems like predatory lending to me if a lender is unwilling to verify and explain to the consumer where their payments went and how they arrived to the numbers and figures that the consumer would be paying. Certainly seems like my overpayment is just disappearing into thin air.