Consumer complaint received 2025-06-18 00:00:00
Product: Mortgage — VA mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: GUARANTEED RATE INC.
State: NY

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NY XXXX XXXX ( XXXX ) XXXX - XXXX XX/XX/XXXX To Whom It May Concern : I am writing to formally file a complaint against Guaranteed Rate, my mortgage lender, for gross mismanagement of my escrow account, Loan # XXXX - specifically, their false assertion of missing flood insurance coverage. This error has caused unnecessary financial disruption, emotional distress, and administrative chaos that I should never have been forced to endure. 

I closed on my home on XX/XX/XXXX, and at the time of closing, I properly submitted proof of flood insurance coverage. Guaranteed Rate accepted this documentation as part of the official process. However, in XX/XX/XXXX, I began receiving alarming notices claiming that no flood insurance policy was on file. This was completely inaccurate, as the documentation had already been provided and acknowledged in the months prior. I immediately reached out to the mortgage officer on this. I proceeded to resubmitting the requested document in XX/XX/XXXX. 

On a phone call with a Guaranteed Rate representative in XX/XX/XXXX, the representative informed me that the document was in review and once it was completed my escrow will get credited and was informed that the issue was being " looked into. '' Despite this, the matter remained unresolved. 

However, in late XX/XX/XXXX, I received a notice informing me that my monthly mortgage payment was increasing starting XXXX. Confused and alarmed, I contacted the mortgage officer and we both got on a call with a different Guarantee Rate representative. That conversation turned unproductive quickly as the rep was dismissive and unhelpful. During this call, I also learnt that my mortgage had been sold to another agency likely XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXXXXXX ). But interestingly enough, I still make my monthly payments through the Guaranteed Rate Portal. This made no sense and the rep couldnt explain it to me either. From my understanding, most mortgage transfers involve a servicing transition. 

In an effort to bring clarity and closure, my original mortgage officer escalated the matter internally on XX/XX/XXXX, forwarding it to XXXX, the XXXX XXXX. XXXX seemed engaging immediately and for the first time, I felt I was finally being heard. XXXX showed a lot of empathy and gratitude to my service. I followed up again on XX/XX/XXXX, after receiving no response and to this day, I have not received any formal update or resolution. I have made repeated good-faith efforts, but my communications have been ignored. 

Rather than acknowledging their administrative oversight, Guaranteed Rate continued treating the matter as a lapse on my part - raising the threat of force-placed insurance and risking damaging changes to my escrow account based on their own mishandling. The rep the suggested that if I could pay almost {$2000.00} into the escrow, it might help reduce my monthly payments. Even with her calculation, me paying that into escrow still didnt bring my monthly payment to what it used to be. When I inquired as to the reason for this, she said it was due to an escrow audit done in XXXX. At which point the mortgage officer reiterated to her that Audits are usually done on the anniversary of the property and not on 4 months in purchasing the property. 

I am a XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX veteran, relying entirely on VA XXXX and long-term XXXX income totaling approximately $ XXXX. My service-connected conditions include XXXX XXXX XXXX XXXX XXXX XXXX  XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX. These same conditions are the reason I have been placed on long-XXXX XXXXXXXX from my XXXX XXXX XXXX XXXX XXXXXXXX XXXX where I had worked with dedication and pride. 

When I purchased this home, it was with the intention of building a future of stability. I spent the last decade serving in Federal service Military to include the XXXX XXXX XXXX XXXX XXXX, XXXX XXXX XXXX, several XXXX Claims Specialist for XXXX, Federal law enforcement Officer in the Department of Justice. Now there is a potential of maybe losing it if I cant keep up with the payments. 

As a result, I have been left to carry the full weight of a nearly $ XXXX mortgage, with total household expenses exceeding $ XXXX, all while managing serious XXXX and the psychological impact of what has now become a legal separation involving financial disputes, property division, and emotional trauma. 

I am currently doing everything I can to stabilize and recover - because if I am not medically cleared to return to work soon, I risk permanently losing my job at XXXX XXXX. The mental and emotional toll of Guaranteed Rate 's inaction has severely disrupted that recovery process. 

All relevant supporting documents- including the original flood insurance policy, communication records, escalation emails, proof of my XXXX XXXX, and documentation of household financial hardship- are available and will be attached when requested. 

I respectfully urge your office to treat this matter with urgency. I have done everything in my power to resolve this peacefully and directly. I should not have to suffer further due to Guaranteed Rate 's failure to maintain accurate records and follow through on an issue I brought to their attention months ago. 

Please help me. I'm begging you, ma'am/sir as I am only human. This home is all I have and these expenses will bury me. I PROMISE you that I am pushing and going to continue to push until I get back on my feet again. I am currently enrolling for graduate school to get my XXXX XXXX at XXXX XXXX XXXX XXXX XXXX. I am excited about that. I look forward to it. My world has been surrounded by XXXX but God has kept me calm. I am not asking for sympathy but for you to please help me fight this battle as I cant do it on my own anymore. Your fight for me on this becomes the PEACE I need in my moment of chaos. So please help me!!! 

Thank you for your time. 

Sincerely, XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation