Consumer complaint received 2020-12-01
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: LD Holdings Group, LLC (CA)

I signed a loan with LOAN DEPOT in XX/XX/XXXX. 
I have never missed a mortgage payment. My escrow account is with LOAN DEPOT as well. My Loan underwent an internal transfer from the LOAN DEPOT TEXAS Branch to LOAN DEPOT NEW JERSEY BRANCH in XX/XX/XXXX. PROBLEMS started happening here due to incorrect onboarding. 


TEXAS OFFICE LOAN NUMBER XXXX NEW JERSEY LOAN NUMBER XXXX during loan onboarding the amount in my escrow account per my escrow analysis was {$1900.00} at the time in XX/XX/XXXX. After On boarding the new loan to the new jersey branch I was left with only {$500.00}. I am missing {$1400.00} here. And was promised it would be fixed but nothing has been corrected. 

My escrow account has many REVERSAL AND ADVANCE fee 's that NOONE at loan depot can explain to me. I have had 4 x 1-4 hour phone calls with representatives trying to problem solve this situation. I have sent multiple emails through their portals and providing them with proof. nothing is getting fixed. instead - i am now scheduled for a very large extra payment into my escrow account. this whole process is stalling my refinance with loan depot as all the numbers are skewed. 

In conclusion : my escrow payment is {$500.00} monthly. I opened my escrow account with {$1400.00} when I signed the loan with LOAN DEPOT. I never missed a payment. 

{$500.00} X 10 Month = {$5000.00} plus {$1400.00} = {$6500.00} escrow payed Year to date Tax {$5900.00} Insurance {$920.00} {$6800.00} - this would mean i should only be short {$330.00} but LOAN DEPOT is showing a ESCROW SHORTAGE OF {$1800.00}. 

Current Escrow Balance As of XX/XX/XXXX Learn More - {$1800.00} Escrow Account Payouts I have to mention another issue with escrow, that might be important to know in order to solve this problem. The issue has been resolved. Escrow made a payment to pay my property taxes XX/XX/XXXX in the amount of {$2500.00}. In XXXX I received a URGENT delinquent notice from the CITY. they never received the payment. That is when escrow company paid it again. Twice, but never put a stop payment on the first check that went out. Until I saw a advancement of {$2600.00} and started my investigation. I had to call the Texas office that NEW JERSEY didn't care to communicate with on my behalf - and ask them to send that money back. This took a lot of work and a lot of investigation skills. In XXXX i received the money paid back into my escrow account {$2500.00}. 

Today as of XX/XX/XXXX my escrow is still Negative {$1800.00} Tomorrow a payment is scheduled. My monthly payment is set on auto pay for {$2000.00} plus an additional {$300.00} towards principle. 

LOAN DEPOT CHANGED IT WITHOUT MY AUTHORIZATION and added an ADDITIONAL {$560.00} TOWARDS ESCROW making my XX/XX/XXXX payment {$2800.00}. why? how can they do that? and how did they come up with this number? everything is wrong and I TRIED EVERYTHING to get it fixed. please help. 

{$2800.00} is paid on the payment due date. 
Mortgage Amount : {$2500.00} Additional Principal : {$300.00} Total Payment : {$2800.00} Payment Frequency : On payment due date Payment Source : Checking Account ( XXXX ) Next Draft Date : XX/XX/XXXX Actual Due Date : XX/XX/XXXX ONCE this payment goes through I will be missing the new escrow pay in and pay out will look different : open escrow payment XX/XX/XXXX With {$1400.00} Plus {$500.00} X 10 Months ( XX/XX/XXXX - XX/XX/XXXX ) = + {$5000.00} XXXX escrow payment $ XXXX additional {$560.00} authorized by loan depot = + {$1000.00} TOTAL PAYMENTS MADE INTO ESCROW {$7500.00} TOTAL DISBURSEMENTS FROM ESCROW {$6800.00} disbursements made : Taxes XX/XX/XXXX XX/XX/XXXX {$5900.00} Insurance XX/XX/XXXX {$920.00} {$7500.00} - ( minus ) {$6800.00} = + {$730.00} is the correct number that should be reflected in my escrow account. 

AS OF XX/XX/XXXX I AM REQUIRED TO HAVE POSITIVE XXXX ESCROW BALANCE.