Consumer complaint received 2025-02-13 00:00:00
Product: Mortgage — VA mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: Mr. Cooper Group Inc.
State: AZ

Complaint narrative:
on XX/XX/XXXX, I wrote : Subject : Inquiry Regarding Increased Mortgage Payment and Request for Justification I hope this letter finds you well. I am writing to express concern regarding the recent increase to my mortgage payment for my property located at XXXX, which has impacted my financial planning. 
While I understand that various factors can contribute to changes in mortgage payments, I would appreciate a detailed explanation regarding the specific reasons behind this increase. Could you kindly provide me with the following information : 1. The reasons or circumstances that led to the increase in my mortgage payment.

2. A breakdown of any factors that may have caused the change ( e.g., interest rate adjustments, changes in taxes or insurance ). 
XXXX. Any relevant documentation or calculations that support the revised payment. 
Before taking further steps, including seeking assistance from government programs or agencies, I would like to ensure that I fully understand the rationale behind this adjustment. Your prompt response would be greatly appreciated, as it will allow me to assess my options moving forward. 
Thank you for your attention to this matter. I look forward to your timely response. 
Sincerely, On XX/XX/XXXX, they responded : On XX/XX/XXXX, we completed an escrow analysis. This annual review and analysis is to ensure that the amounts we are collecting monthly are sufficient to make the anticipated payments for taxes and/or insurance. 
First, to determine your monthly escrow payment, we take the total annual anticipated disbursements and divide them by 12 months. 
Hazard Insurance : $ XXXX XXXX Taxes : {$890.00} XXXX : $ XXXX months = {$140.00} Next, we determine what the lowest escrow balance should be. Your escrow balance should not go below the allowed cushion, which will not exceed XXXX ( XXXX months ) of the total annual disbursements, ( $ XXXX months = {$140.00} X XXXX = {$280.00} ). These funds are collected for any unanticipated increases in the tax payment ( XXXX ) and/or insurance premium ( XXXX ). 
Then, to determine if sufficient funds exist when the escrow items come due, we review the current escrow balance and anticipated payments to and disbursements from escrow. Based upon this data, we create a projection and determine the actual lowest escrow balance. According to the analysis projection, with the payment of your county taxes in XX/XX/XXXX, your escrow balance will be {$77.00}. 
This amount less the required cushion amount equals the shortage payment of {$280.00} - {$77.00} = {$200.00}. Repayment of the shortage is spread over the escrow cycle of 12 monthly payments ( {$200.00} / XXXX = {$17.00} ). 
Effective XX/XX/XXXX, your monthly payment is {$670.00} and includes the following : Principal and Interest : Escrow : Shortage : Total Payment Amount : {$510.00} {$140.00} {$17.00} {$670.00} You may deposit the escrow shortage in full. Upon receipt of this deposit, your shortage and monthly payment will be adjusted accordingly. 

I replied : Obviously my account is being miss-managed. You have made an arbitrary assessment of a mortgage payment increase on my fixed rate loan and which has its taxes frozen due to my age. I have given you the opportunity to justify the increase and you still have not provided that justification, only a rehash of your reasoning. I will ask ask for an external opinion and help ; maybe then you will be forthright with the reason and justification. None has been provided to me and as a senior, XXXX vet, i find your response and action particularly predatory in nature and disturbing.

Company response to consumer: Closed with explanation