Consumer complaint received 2019-12-03
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: Capital Markets Cooporative, LLC (AZ)

Our original mortgage was set up with XXXX XXXX XXXX  in XXXX of XXXX. At the time of closing our escrow account was over inflated by a few thousand. I questioned this at closing as our house payment was approximately {$400.00} more than originally stated. At signing we told them the figures were inflated by {$400.00} per month. We were told that this was normal as a law had passed for title companies that if the taxes or insurance were under quoted they would be responsible for the shortage and fines so it was normal for them to inflate them and once the mortgage was set up with the company that buys the loan we were responsible for requesting an escrow analysis and the company that bought the loan would adjust to the correct amounts. 

XXXX, XXXX CMC Funding Specialized Loan Servicing bought our mortgage. On XX/XX/XXXX I called and spoke with XXXX. He stated the escrow per month was {$630.00} and that once the loan was what they called " boarded '' meaning it is on their system I could put in the request and CMC would contact XXXX County Assesors office and get the correct information along with my insurance company. During XXXX and XXXX I spoke with someone weekly checking to see if the loan was boarded. It did not get boarded until XX/XX/XXXX according to a call I had with XXXX at CMC Funding. I explained my situation and they stated no worries she would put in an escrow analysis request and to follow up in 10 days. XX/XX/XXXX I spoke with XXXX and he stated there were no notes and laughed when I stated my case. He refused to transfer me to a supervisor stating he would put in a request for analysis and a supervisor call back which I would receive in 24 to 36 hours. I never received a call. I called back in on XX/XX/XXXX and spoke with XXXX who stated she is a manager. At this point my home owners insurance and taxes had not been paid yet. I explained this to XXXX along with the needed escrow analysis. She transferred me to XXXX in the Tax Department and he said he would put in a request for analysis and a research request as to why the taxes had not been paid. I was then transferred to XXXX who I explained my situation to and she stated that she could see the request XXXX put in and the tax review should be done by XX/XX/XXXX. XXXX stated that she would put the request in for the insurance review to see why it had not been paid. XXXX requested that I fax my tax bill and insurance bill in which I did immediately with my loan number and contact information. My taxes were due XX/XX/XXXX with a note from the county stating that mortgage companies often take until XX/XX/XXXX to pay. I had contacted my insurance company as they were stating I was going to be cancelled due to non payment. They agreed to put a 30 day hold on the policy and it would be cancelled by XX/XX/XXXX. XX/XX/XXXX I called back into CMC and spoke with XXXX in insurance. She stated they still had not paid the insurance and she didnt know why but that she would put in a ticket for investigation. XXXX transferred me to XXXX in taxes and she stated that the review wouldnt be complete until XX/XX/XXXX for payment of taxes. I explained how all these tickets had been opened to review my escrow and investigation of my insurance and taxes not being paid. I explained my house payment being {$400.00} higher per month and that there was {$6100.00} sitting in my escrow account. XXXX stated she would put in a hardship ticket and that should rush everything. 

XX/XX/XXXX I received a call back from XXXX stating she was from the escalated department and that she doesnt know why I would be told for the last two months that they would do an escrow analysis and why the title company would tell me that when I signed because they dont do those until a year has passed. I explained again that taxed and insurance had not been paid. She stated she could see tickets in and just wait. 

I called my insurance company on XX/XX/XXXX and paid the homeowners insurance which was a total of {$610.00} as they confirmed that they had not received payment and yes cancellation was set for XX/XX/XXXX. 

XX/XX/XXXX I spoke with a manager by the name of XXXX. I explained all of the above. She stated that a check had been sent for insurance on XX/XX/XXXX. I stated that was strange as my escrow account had not decreased. XXXX stated that she would send an email to the management of the escrow department explaining the escrow issue and that she would be in contact within 24 to 36 hours. I spoke with my insurance company today and they have not received payment from CMC. 

XXXX which is today, I called again as I had not heard back from CMC Funding. I spoke with XXXX and she stated she didnt know who XXXX was and she had no way to transfer me but she did see a note that XXXX would call when she received an answer on the escrow account and that she had notated there was a shortage. I explained there is not a shortage but an overage of a few thousand. She said there was nothing she could do for me. 

I had her transfer me to the Tax department. I spoke with XXXX. He stated the taxes had not been paid according to his records and the XXXX County tax site. He stated he would open a ticket for investigation and I should check back in 10 days. 

My escrow account at this time has a balance of {$6100.00}. If an analysis is not done until XXXX of XXXX which is what CMC Funding is stating the balance of my escrow account will be over {$12000.00}. 

When I spoke with XXXX from the escalation department and she stated they do not do reviews until the next year she said that they wouldnt change anything anyway as the taxes will be going up next year. 

When I called to CMC Funding today and tried to get a manager and couldnt my goal was to discuss RESPA section 10 as they are out of guidelines holding way more than 1/12 in escrow and way more than 1/6th for a cushion. They also are not following the restrictions on pre accrual as according to XXXX they are within guidelines storing thousands in escrow in case the taxes go up next year. 

After over two months of speaking to several individuals I can not get results. The additional {$400.00} per month on the house payment is placing us in a hardship situation. 
Thank you for your assistance.