Consumer complaint received 2019-07-23 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: MONEY SOURCE, INC., THE
State: GA

Complaint narrative:
This case is a second filing against The Money Source. The original issue has not been resolved. Please refer to the previous case if needed. The case number is XXXX. 

I refinanced my mortgage through XXXX XXXX. I closed on refinancing on XX/XX/2019. I was directed by XXXX XXXX to make my monthly payment to The Money Source, their loan servicer. I made a monthly payment as well as two payments toward the principal. In total, I paid The Money Source {$3500.00} between XX/XX/XXXX and XX/XX/2019. Of the {$3500.00}, {$1200.00} was interest, {$480.00} was escrow, and the rest went towards my principal balance Sometime in late XXXX, XXXX XXXX  sold my loan to XXXX. However, when I received my first statement from XXXX, I was surprised to see that XXXX was not reflecting any of the payments I made to The Money Source. 

On XX/XX/2019, TMS responded " To Whom It May Concern : The Money Source ( NMLS # XXXX ) ( TMS ) is in receipt of the complaint filed by Mr. XXXX XXXX ( the Borrower ) with the Consumer Financial Protection Bureau. Mr. XXXX complaint states that after refinancing his loan with XXXX XXXX, he has received conflicting information regarding who is servicing his loan and to whom he should be making the XX/XX/2019 payment. Upon receipt of the complaint, TMS conducted a thorough review of the Borrowers loan file and determined that the Borrower closed on his loan on XX/XX/2019 with XXXX XXXX. On XX/XX/XXXX, the loan was sent to TMS, XXXX XXXX  subservicer. The Borrower made two principal payments on XX/XX/XXXX and XX/XX/XXXX, respectively, prior to making the regular monthly payment for XXXX on XX/XX/2019. XXXX XXXX  sold the loan to XXXX XXXX  on XX/XX/XXXX, and the loan was set to automatically transfer to XXXX after the balance had decreased by the amount of the scheduled XXXX payment. Due to the initial principal reductions, the pre-set balance threshold did not match, and the loan did not automatically transfer to XXXX. As of the date of this letter, the loan has been manually transferred to XXXX, including the XXXX payment made to TMS and the additional principal amounts. The XX/XX/2019 payment, in the amount of {$2200.00}, should be made to XXXX XXXX. All further inquiries should be directed to XXXX, using the following information : XXXX XXXX  XXXX. XXXX XXXX XXXX, MD XXXX XXXX If you have any questions or need further information, please contact me by phone at XXXX or email at XXXX. Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX '' However, according to XXXX, the additional principal payments were not remitted to XXXX until XX/XX/2019 ( see CFPB case XXXX ). 

On XX/XX/2019, I received an email from XXXX saying the check for {$1200.00} from TMS had bounced. I called the XXXX Mortgage customer service number and was told TMS placed a stop payment on the aforementioned check. As of XX/XX/XXXX, my mortgage principal balance does not reflect the {$1200.00} paid to The Money Source in XXXX of 2019.

Company response to consumer: Closed with explanation