Consumer complaint received 2024-04-30
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: RoundPoint Mortgage Servicing LLC (OH)

My loan servicer incorrectly overpaid my property taxes and is now charging me for the escrow shortfall. We set up an escrow exemption in the fall of XXXX with our previous servicer. This was completed with a simple letter and application requesting that we pay local property taxes directly instead of the servicer escrowing and paying those funds. We completed the application and started making payments and saving for the eventual tax balance. During that process we were informed that our loan would be sold to RoundPoint Mortgage ( RP ). I then called RP to confirm that they allowed escrow exemptions and if there was anything we needed to do to ensure the exemption carried over to the new account. They confirmed that RP allows exemptions and that the paperwork and exemption should carry over without action on my part. Upon receiving an account in the winter of XXXX with RP I called and confirmed that paperwork and the exemption had carried over. No issues were identified and we made payments at the correct amount. I called again in XXXX to confirm the exemption and received confirmation again. I called in XXXX to confirm a final time before paying the taxes from our savings. I then received notice that the taxes were paid twice from the county. I called RP and they said a payment was made on our account to protect the companies investment. They confirmed that the escrow was done incorrectly despite all the exemption paperwork being available. Our new monthly payment went up almost three times the correct amount in order to repay the escrow shortage and to prepay the 2nd half taxes. Research tickets were opened and they promised to secure a refund from the county. This, they promised, would result in a reanalysis and a correct monthly payment. I offered to pay the correct amount as an act of good faith but was told not to pay as this would trigger and underpayment process. I was told not to pay my XXXX payment in the hopes that the refund would come through and the analysis would be done correctly. The county confirmed that RP asked for refund paperwork on XXXX but the paperwork was not returned as of XX/XX/XXXX. RP has offered a customer advocate to help with the situation multiple times starting around XXXX but none has been assigned despite promises of being contacted with long 24-48 hours. Ive also been offered call backs from managers multiple times but no communication has been made. I ultimately paid the XXXX payment to avoid being reported to credit agencies for delinquency. I requested transcripts of my calls from RP as well as documentation of the internal policy or federal regulation requiring them to report me to credit agencies in situations where it was their mistake. This was made in mid XXXX on the phone and in writing. I have not received a response for these requests. Ultimately, my concern is that there is no incentive for them to secure the refund from the county as I am forced to make them whole for their mistake. Meanwhile, Im being denied earnings on interest from my savings account. While not a substantial amount of money for me, it would be a substantial sum if they denied escrow exemptions from consumers on a systemic level and took interest income for themselves. I would like to be made whole by being compensated for missed interest income.