Consumer complaint received 2024-01-24 00:00:00
Product: Mortgage — FHA mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: CARRINGTON MORTGAGE SERVICES, LLC
State: FL

Complaint narrative:
XX/XX/XXXXXXXX  I closed on a mortgage with XXXXXXXX XXXX. It was later transferred to XXXXXXXX XXXX and now the loan is transferred to Carrington Mortgage. My property taxes and insurance are all from escrow. My loan for XXXX has ballooned to an excess of {$870.00} additional payment per month. I contacted Carrington to inquire why? I was told it is because they did an analysis and determined my escrow amount was not based on my actual homeowners insurance bill for the year sent to them by my insurance carrier and they estimate my property taxes to be {$10000.00} year on a {$420000.00} home in XXXX XXXX. My property has been homestead since XXXXXXXX The XXXX XXXX property appraiser mailed the bill to Carrington Mortgage. The Carrington Representative I spoke with on XX/XX/XXXX stated when the loan was transfer to them all the documents were not sent or loss in transit. They have no knowledge my home is homestead and therefore basing my payments on their own analysis. She stated, " XXXXXXXX XXXX did not transfer all the mortgage documents to XXXX and XXXX did not transfer all of the information to then in transferring to Carrington Mortgage. I asked the representative doesn't it behoove each company when transferring mortgage loans to secure the proper instruments. She stated it is not Carrington 's fault if the company they purchased the loan from did not transfer the documents to them. She further stated, " they do not go by the tax bill from the Property Appraiser. It is my responsibility to alert them to my Homestead exemption status. I asked the representative where can I send the documentation and she advised me I can not. I can only call a phone number within her organization and speak with someone about it. They will not adjust my payments and it will just stay in escrow for future escrow. My payment will continue to be {$870.00} higher per month. When I purchased my home I had to meet FHA guidelines to qualify and meet income to debt requirements. This new payment would have disqualified me for the home purchase in XX/XX/XXXXXXXX XXXX I would have never made it to the closing table with this payment. This company Carrington, XXXX and XXXX XXXX  are transferring loans, intentionally omitting information and conveniently loosing documents to disregard the actual yearly taxes and insurance to inflate customers monthly mortgages which result in homeowners inability to pay. This would result in the homeowners loosing their homes due to intentionally inflating monthly payments. I have further learned, XXXX XXXX sold my loan to XXXX and omitted one of the borrowers on the loan and did not transfer all of the loan documents. XXXX who had my homestead documented omitted this on the transfer to Carrington which has resulted in the same omissions. I do not believe these three companies are this careless. I believe it is another example of targeting minority home loans to intentionally orchestrate a default. These are danger and reckless practices not to mention discriminatory. My tax bill for XX/XX/XXXXXXXX XXXX  was {$860.00} paid by XXXX XXXX My tax bill for XX/XX/XXXXXXXX XXXX  was {$4800.00} paid by Carrington Mortgage to XXXX XXXX. My monthly mortgage payment with XXXXXXXX XXXX at closing was {$2600.00}. My monthly mortgage payment when transferred XXXX and during the time they serviced my loan the amount was {$2600.00}. My monthly mortgage payment when transferred to Carrington Mortgage for the entire XXXX  year was {$2600.00}. My new monthly mortgage payment with Carrington for XX/XX/XXXX is {$3500.00} and the representative that will be my new payment going forward.

Company response to consumer: Closed with explanation