Consumer complaint received 2021-02-16
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: WATERSTONE MORTGAGE CORPORATION (NM)

On XX/XX/XXXX we closed on refinancing our home in XXXX XXXX, NM. The application and approval process went very smoothly and was handled in approximately 1 month. Our refinancing was done through Waterstone Mortgage Corporation at their local office in XXXX XXXX with Mr. XXXX XXXX. The closing was handled through XXXX XXXX at their XXXX XXXX office. We used these same two companies when we purchased our home in the summer of XXXX, closing on XX/XX/XXXX. We put 50 % down in cash and financed the remaining 50 % at the purchase. Therefore, we have 50 % equity in the house. 
At closing, we were given a payment coupon for the XX/XX/XXXX payments. The monthly payment is {$1200.00}. The payment coupon directed the payment to be sent to Waterstone Mortgage Corporation at the address XXXX XXXX XXXX XXXX, XXXX, Wisconsin XXXX. It would then be directed to a new loan servicer. The mortgage account number we were given to write on the check was XXXX. We sent the payment as directed and on time. We have a copy of the cashed check which is among the documents we are sending. 
At the beginning of XXXX, XXXX we received a letter a letter stating that in future the loan servicer would be Waterstone Mortgage Corporation at the address of XXXX  XXXX, XXXX, NJ XXXX. The payment coupons directed payments be sent to Payment Processing Center, XXXX. XXXX XXXX, XXXX XXXX, CA XXXX. The coupons stated the loan number was now XXXX. We sent the XXXX, XXXX payment as directed in the amount {$1200.00}. Included in the documentation you will find a proof of payment from our bank, XXXX XXXX  and a statement from Waterstone Mortgage in XXXX, NJ acknowledging receipt of payment on XX/XX/XXXX. This is also included in our documentation. 
On XX/XX/XXXX we received a statement from Loan Administration saying our XXXX payment was due XX/XX/XXXX, as normal. However, the letter stated that our account was past due in the amount of {$2500.00} ( or the previous 2 payments ) and that made the total amount due {$3800.00} or three full payments. This letter is included with the documentation. We had already sent the XXXX payment for the usual amount of {$1200.00} and we have an email from Waterstone Mortgage Loan Administration acknowledging receipt of the XXXX payment on XX/XX/XXXX. This too is included in the documentation. 
Separately in the mail we got a bill collectors letter with all the threats for non-payment. We started receiving telephone calls at odd hours as well as some voice mails demanding payment. 
Given all these we called Loan Administration in New Jersey to see if we could get this straightened out. The online agent could do nothing, not even getting a supervisor or manager and told us to fax all of our documentation and proofs of payment to Fax Number XXXX which was the Research Department. We sent the fax immediately to that number and sent an electronic copy in an email to XXXX XXXX, our local Waterston loan agent. The next day we were contacted via email by MsXXXX XXXX XXXX from Waterstone Customer Service who said they received the documents and would be looking into the matter. We were hopeful. Her email and all the documentation is in the documentation included with this complaint. To be clear, the documentation clearly shows that all payments were made and received. 
We were hopeful things would get sorted out. It is now XX/XX/XXXX and the collectors letters and telephone calls have continued unabated. The agents we talk to say they have no control over the collection side. A remarkable statement it seems to me.