Consumer complaint received 2016-04-11
Product: Mortgage — FHA mortgage
Issue: Loan servicing, payments, escrow account — 
Company: LD Holdings Group, LLC (CA)

I refinanced with LoanDepot with an FHA Streamline loan a little over 2 years ago XX/XX/XXXX with an original loan amount of XXXX. The interest rate was to be 5.00 % with a monthy PMI payment of around {$55.00} a month bringing my monthly payment, including all escrow, to {$900.00} a month. I received my first statement for XX/XX/XXXX, and my monthly payment was higher at {$930.00} than the {$900.00} I originally agreed to. I called LoanDepot about the situation and after further studying of the account they realized that mistakes had been made by the mortgage broker. I do n't have a full understanding of what exactly happened but it had something to with them not calculating my escrow correctly. They wanted me to refinance all over again to fix the discrepancies but I did not want to go through with the whole process with them again seeing as they already messed it up the first time. I was then told that to fix the situation, they were willing to offer me a 3.25 % interest rate to keep my business, but I would have to pay the {$930.00} for 6 months until the escrow worked itself out, as well as sign an addendum to the refinace paperwork, so I did that because the {$930.00} was still almost {$100.00} cheaper a month than my payment before the refi. My monthly payment remained at {$930.00} for 6 months until XX/XX/XXXX when everything seemed to even out, and the new payment became {$800.00} a month which I was extremely satisfied with. I paid that amount for 6 months until XX/XX/XXXX at which point a {$75.00} escrow shortage was added to my payment along with a {$35.00} increase in my escrow payment even though my property taxes as well as my Homeowners insurance had only gone up around {$200.00} total for the year. Starting XX/XX/XXXX, my new payment was now {$910.00} a month, an increase of {$110.00} a month after only 6 months. I figured the escrow shortage would again work itself out after a couple months, but it was n't until 7 months later, around XX/XX/XXXX that I finally inquired to LoanDepot in regards to why the escrow shortage was still there. I talked to someone who looked over the account and she said that she did see a lot irregularities with the loan. She also said that she noticed that when the loan was going to be recalculated XX/XX/XXXX, that my PMI was going up {$70.00} a month, from about XXXX a year to XXXX a year, as well as another shortage of {$35.00} a month. She told me my payment was going to go up to {$970.00}, an {$160.00} increase a month increase. She said she was going to e-mail the loan processing center in regards to everything, and that I should also write a detailed e-mail to LoanDepot as well before the monthly payment had a chance to be recalculated. I heard nothing back for a month until I received a very generic email back from LoanDepot stating only that - I did not qualify for a PMI Reduction at that time. I tried to call LoanDepot back again, around XX/XX/XXXX and talk with the woman I had spoken to before. That women seemed to have fallen from the face of the earth and there was no prior record of us having spoken at all. I then talked to someone else in regards to the entire matter, and they said they were going to write in again to LoanDepot also. They also suggested I wait until the recalculation takes place XX/XX/XXXX to see if the irrregularities worked themselves out. And of course after the re-calculation, my new payment is {$970.00}. I had to make that payment that was due on XXXX. I have attempted numerous times to speak with a supervisor over the last 2 weeks. I spoke to one named XXXX, and he said the same thing, that it was being looked into. However he would not give me an extension to re-contact him. I called again today, XX/XX/XXXX, to speak to XXXX, and no one seems to have heard of him again. And on top of all of this, my monthly payment is scheduled to go up to over {$1000.00} next month for some reason! Please Help! Thanks!