Consumer complaint received 2025-01-05 00:00:00
Product: Mortgage — VA mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: BSI Financial Holdings, Inc.
State: VA

Complaint narrative:
On XX/XX/XXXX, in order to reduce our monthly mortgage payment, we shopped around for a more cost-effective Homeowners Insurance ( HOI ) and found XXXX that matched our needs. The total savings equated to $ XXXX, which meant we would be saving approximately $ XXXX on our monthly mortgage payment. 

Around the same time we were shopping for the new HOI, we were told after that an Escrow analysis was being performed on our home and the analysis indicated a tax property increase ( which is not surprising ), but the escrow shortage revealed a {$5100.00} shortage, which was an outrageous amount considering these type of home analysis are to be performed yearly. It appears these number are not adding up.

Our monthly mortgage payments were set on auto pay and have been that way for at least one year. We have never been late on a mortgage payment. As a matter of fact, an amount of {$2900.00} was automatically withdrawn from our account on XX/XX/XXXX from BSI Financial. The lender took it upon themselves to apply that payment as a payment towards escrow instead of using it as a mortgage payment. Now they are telling us we are delinquent for our XXXX payment. 

We contacted BSI Financial Services for an explanation in early XX/XX/XXXX and explained to them how was our new HOI policy ( that took effect XX/XX/XXXX ) being implemented to our new monthly mortgage payment and we were told that the Escrow analysis was being performed and to give it a 2-5 working days to get a new monthly mortgage balance reflecting our XX/XX/XXXX statement. On or around XX/XX/XXXX, after over XXXX weeks of constant calling and being put on indefinite hold, a representative gave us a call and stated that the escrow analysis had concluded with deficit in our account and that our mortgage payment was going to increase. We requested for payable amount in order to keep mortgage payments low. The representative provided an amount of {$1600.00} and guaranteed moving forward, the monthly mortgage payment would drop to $ XXXX. 

After we made the payment that same day in the amount of {$1600.00}, we noticed that our monthly mortgage payment increased instead and also that our account was in a late payment status. And the {$1600.00} paid that day was put into escrow, but the monthly mortgage payment had not dropped at all. Our new monthly payment actually increased and continues to increase/change without an explanation. We have attempted to call the company a plethora of times with NO success. Every time we call and request to speak to a supervisor, apparently we have to try to solve the issue with a tech first, but after explaining the situation, we are still put on hold and a supervisor never calls us back. 

Today is XX/XX/XXXX, our account status reflects a XXXX XXXX day past due notice '' with a new monthly payment of {$2600.00}, even though {$1600.00} was paid in XXXX towards escrow. We are now delinquent on our payment. XXXX terms have been used to dismiss our concerns every time we call : " escrow analysis '' and " shortage, '' however, no further explanation is ever given. No supervisor ever calls us back and we need to get our account back to green and get the late payments dismissed in order to move on with our lives.

Company response to consumer: Closed with explanation