Consumer complaint received 2025-05-13 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: LAKEVIEW LOAN SERVICING, LLC
State: TX

Complaint narrative:
Lakeview Loancare employees gave incomplete and false promises for lowering my mortgage payment for XX/XX/year>. On XX/XX/year>, I called Lakeview Loancare to inquire an ~ {$600.00} increase in my payment. The Lakeview employee shared there was an increase in the amount needed to cover escrowed payments which led to a shortage being added to my escrow payment and my general escrow payment increased to account for the possible increase needed to cover taxes, insurance and water tax. I inquired ways to reduce my escrow balance. The Lakeview employee shared I can apply for homestead, change my insurance for a lower rate and apply for escrow to be split into 48 months. We talked on the phone almost an hour as she explained how escrow and escrow shortage works. I inquired further about the 48 month plan and she shared the pros and cons to it. She shared that it is possible for the application to be denied, to check back in XXXX days for a status update, and that my escrow would be reduced for XXXX. On XX/XX/XXXX I applied for XXXX and on XX/XX/XXXX I submitted new insurance information to Lakeview. On XX/XX/XXXX, Lakeview emailed that they have received and processed my new home insurance. On XX/XX/XXXX, I called Lakeview back for an update on the 48 month plan. The Lakeview employee shared that my application was denied for 48 month. She shared it was approved for 24 months. When I inquired why, she shared that Lakeview only approves applications for up to 24 months. I expressed confusion for why that wasn't shared in the first place. The lakeview employee shared it must've been a new employee for why incomplete information about the escrow payment process was given. I asked if there were any other options to lower my payment for XXXX and she transferred to another department that would be able to provide more options. She transferred me to another department and this Lakeview Employee shared in further depth how the escrow payment plan only applied to my escrow shortage and not my escrow account ; this was new information. She went to share additional ways to reduce my payment. She shared that homestead and a lower insurance premium will lower my payment. She looked at my account to see that Lakeview had received my new insurance plan and are in the process of completing a re-evaluation for my escrow. She the advised it was best not to refinance and that the re-evaluation will take up to two weeks to take into effect. I clarified that because my insurance premium is already uploaded and my XXXX payment is not late until XX/XX/XXXX, my new escrow analysis will go into effect in time for my XXXX mortgage payment. The XXXX employee said yes, with a lower insurance premium it will lower my escrow for XX/XX/year> which will lower my bill for XXXX. I clarified that because my homestead application is not on file it will definitely not go in effect for my XX/XX/year> bill and the Lakeview employee said correct, the homestead wouldn't be processed in time to lower my XXXX mortgage payment. I clarified again that my mortgage payment will reduce for XX/XX/year> from my lower insurance premium and the Lakeview employee verified yes it will decrease in time for my XXXX bill. I expressed that I was unable to make my current XX/XX/year> payment. Therefore, she stated she will remove my auto pay, advised me to make my XXXX payment until after the escrow is re-analyzed and call Lakeview back around XX/XX/XXXX for an update if I don't see my payment lowered by then. I called Lakeview back on XX/XX/XXXX as advised and the Lakeview employee shared my escrow analysis was redone and it will lower my payment, but it will only take effect for my XX/XX/year> mortgage payment. I expressed confusion for why the lower mortgage payment wouldn't go into effect for XXXX. The lakeview employee shared that when an escrow analysis is done it take at least a month for it to process, so it can't go into effect until XXXX. I shared that the previous employee verified that lowering my insurance premium would lower my payment in time for my XX/XX/year> mortgage payment. She apologized for the false information and transferred me to the escalation department to find a resolution. When transferred to the escalation department, he apologized for the inaccurate information and shared that he wanted to make sure there was no more confusion. He began to share how the escrow and escrow analysis process works. I shared I was familiar with the escrow process and how the escrow analysis works, that my complaint is for the multiple time a lakeview employee has given incomplete or false information regarding my XX/XX/year> payment ; that the Lakeview Loancare company keeps apologizing for the errors but not offering ways to amend the errors, and I'm the one who's still expected to make a payment. I shared that I trust my loan company to be providing accurate information for how to lower my payment and when the lowering of the payment will go into effect. The male lakeview employee confirmed that even though the pevious information from lakeview employees was incorrect, Lakeview is not able to follow through on what was promised for lowering my XX/XX/year> payment and can only lower my payment in time for XX/XX/year>. He shared that the escrow analysis was completed on XX/XX/XXXX after the XX/XX/year> bill was sent, so he didn't know why another employee would promise a lower escrow payment the month of the escrow analysis because it always takes XXXX months for it reflect on the account. He again stated there is nothing he could do to change the payment for XX/XX/year> and submitted my complaint.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation