Consumer complaint received 2024-02-26
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: Aspen Yo LLC (NJ)

I am writing this as public notice and as a follow-up to numerous attempts to speak to Gregory Funding to address a critical issue regarding Gregory Funding failure to pay my home insurance in a timely matter resulting in the lapse and cancelation of my home insurance. My account is currently up to date, never late, with over XXXX in escrow. 

In XXXX I received several letters from Gregory Funding ( GF ) stating that my hazard insurance had expired. I sent a declaration page of my then insurance that verified that my hazard insurance was in fact in place and active. I continued to receive the same letter stating that my hazard insurance was not in place. I did not receive a call or any other correspondence from GF to clarify any other issue. On XX/XX/XXXX, my then insurance company stated that I was canceled for non-payment. 

When I reached out to the insurance company, I was informed that GF had not paid the premium. I informed my insurance agent that she should follow up with GF to determine the issue. She contacted GF and was informed that there was a discrepancy in the address. This problem could have been easily corrected with a call from GF to request verification. This is so because I own 2 lots.

My agent was told to have the insurance company change the address and submit a new declaration page. The new declaration page was forwarded immediately, and the insurance company granted me 10 days from the date for payment from GF. GF never paid the premium causing cancelation of my policy. 

I could not get insurance for over a week because of the cancellation and lapse of coverage. I spoke to a few GF representatives to find resolve in this matter. I was told that GF would consider compensation for the difference in premiums since my current insurance is {$5000.00} more than the previous policy from XXXX to XXXX dollars The cancellation of my previous policy was clearly because of a failure of the administrative processes of GF by sending numerous letters incorrectly citing deficient or no hazard coverage instead of requesting address verification. 

To ensure that this issue does not occur again I paid the entire annual premium for my home insurance no longer needing GF to escrow and pay funds as previously executed. To date the GF is still processing payment I have already forwarded a current insurance declaration page which indicates that I am paid in full for the year. 

I was informed by representatives from XXXX XXXX XXXX who represent Gregory Funding that a supervisor would contact me regarding GF responsibility to pay the difference from the cancelled policy to the new one. I have not received a call from the company to address this issue. 

Also, since the cancellation resulted in Gregory Funding NOT paying the original insurance, I have not been informed how those funds will be applied to the new premium or returned to me. 

I have asked for an audit of my account and I am requested that no further home insurance premiums be paid by GF resulting from the poor level of customer service and communication. 
I have unsuccessfully attempted to call many times to speak to a supervisor.

I have been told that mortgage companies such as Gregory Funding have targeted certain area codes to harass and unfairly inconvenience resulting in foreclosure and other financial difficulties for home owners. 
My current insurance company has unsuccessfully attempted to intercede this situation has been going on since XXXX of 2023. Horrible and frustrating experience for my entire family.