Consumer complaint received 2024-03-18
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: LAKEVIEW LOAN SERVICING, LLC (FL)

I had an extremely disappointing interaction with Lakeview Loan Services and would like written confirmation on how this will be corrected, as well as next steps I should expect on my end. 

I recently noticed my mortgage payments had gone up, so I went to the online portal to confirm where the additional payment was coming from. I noticed my monthly Escrow payment had increased around {$500.00}, so I looked into the change in taxes and insurance payments to see why these increases occurred. After pulling up my XXXX policy placed by XXXX, I noticed the coverage was showing lapsed due to non-payment of premium since Lakeview Loan Services is responsible for making my insurance payments through my escrow account, I called customer service to see what was going on. A short description of that transaction is below : Called Lakeview Loan Services at XXXX XXXX  XX/XX/XXXX Call time 1 hr. 6 minute call : Spoke to rep that I saw my policy was lapsed on XXXX website. Rep advised it does appear they did not pay the policy premium and the policy lapse in XXXX of XXXX. They then advised that I would have to secure another insurance quote. I asked to speak to a manger as this was Lakeview 's mistake and I wanted to confirm I would not be paying more than my original quoted premium. 
Talked to manager, we looped in XXXX ( placed XXXX policy ) but they had to verify my security information. Advised we would call Lakeview manager back immediately after verifying my information. 

Called XXXX at XXXX XX/XX/XXXX and merged call with LAKEVIEW after verifying information. Call time 1 hr. 18 minutes : Had to go through the call center, waited on hold for almost 40 minutes, and then told manager was unavailable and to call back in 24-48 hours. Asked for a different manager, waited another 10 minutes and then was sent back to original manager. 
XXXXLakeview confirmed that Lakeview never made the payment and they could not reinstate coverage, they would have to quote a new policy. 

Issue : My wind policy, that I confirmed was supposed to be paid by Lakeview Loans Services through my escrow, has been lapsed in coverage since XX/XX/XXXX due to non-payment of premium. Lakeview Loan Services and XXXX show that a rep from Lakeview called to make the payment to XXXX, but was told their system was down at the time and asked to call back later than afternoon. No representative from Lakeview called back to make the payment XXXX confirmed that they notified Lakeview several times that the policy was going to cancel for non-payment, but no additional communication from Lakeview was received - XXXX has sent me a log of communication sent to Lakeview Loan Services with no response. XXXX is now unable to reinstate the coverage due to the time period that the policy has been lapsed, and will need to quote a new policy ( with a lapse in coverage ), that can not be placed for 30-days. 

What I need from the company : I am extremely frustrated with the negligence on Lakeview 's end to make the insurance payment to keep my policy in place. I now have a lapse in coverage of almost a year, and have to get quotes for new wind insurance which is likely much higher now than it was in XXXX of XXXX, as well as force placed insurance for the lapse in coverage. I would like written confirmation of how this error occurred, how it will be corrected, and what I should expect for next steps from your company on my end. I would also like confirmation that the company will be covering the difference in cost for this error. 

On XXXX, I was told to expect a call back with an update on XX/XX/XXXX. No call or email was received. I sent an email on XX/XX/XXXX asking for written confirmation on how this error occurred, how it would be corrected, and how this mistake would be prevented from happening moving forward. No response has been received. 

This morning, XX/XX/XXXX, I called customer service for Lakeview and asked for an update on this issue. They could not provide any additional information and it appeared there was no movement on a resolution from when we last spoke on XXXX.