Consumer complaint received 2022-04-15 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: Mr. Cooper Group Inc.
State: GA

Complaint narrative:
We have a mortgage with the Mr. Cooper mortgage company, who bought our loan from XXXX  XXXX XXXX several years back. 

The mortgage number is XXXX Mr Cooper is out of XXXX as best as we can tell. The cashiers check I mention below was sent on XXXX XXXX and posted on their website on XXXX XXXX. 

Were down to the last few years of the loan and so we decided to pay off the loan. Following Mr Coopers instructions we sent a cashiers check for {$44000.00} as a principle payment to the lender. That would have brought the loan down to a few thousands dollars ( about two payments ) and we could then request a payoff amount ( knowing those are only good for XXXX days ). 

The XXXX payment was received by the lender reportedly on XXXX XXXX and went in as Unapplied Funds. So we called the lender on the XXXX of XXXX when we saw the posting and attempted to have them apply the money to the account. The initial assistant, although helpful, came back saying he needed to send us to escalation group. 

I was connected to a XXXX there. First she claimed she could not apply it, it wasnt a certified check. We of course told them it was. Cashiers check # XXXX. 

Then she claimed you cant make a principle payment of over 90 % of the loan. I asked what document says that, which she could not answer. I specifically stated I wanted a document that outlined that rule, as we were unaware of it. Now to add insult to injury, after a 40 minute call I was then put on hold by XXXX and a minute or so later she came back on and hung up. I waited to see if we would get a call back, none occurred. 

We called again, and were pushed to a XXXX in Escalation. I informed her of what had happened and I told her, I still wanted the document that says I could not apply a given amount as principle. She sent me our original promissory note from XXXX XXXX XXXX, which clearly states I can make a prepayment of any or all of the loan at any time. 

I then informed her that given their 90 % rule, I would abide by it and they should immediately apply 89 % of the unapplied funds as principle ( {$40000.00} ) She left me on hold and came back several minutes later and said " we cant do that '', these are unapplied funds. We cant touch them. We are going to send them back. 

I asked to talk to her supervisor, she claimed there is no one I can send you to. I could make a call-back request. I again asked for the document that says this 90 % rule, and made it clear I didn't want any XXXX, she replied you have your promissory note, thats all I can give you. I asked her again, was there ANYONE I could talk to? Her supervisor, the people she kept putting me on hold to talk to? She claimed no. So I demanded a call back and hung up. 

So they have had our $ XXXX since XXXX XXXX, never contacted us to say their rules were in play, the rules they can not seem to find in print. They obviously werent planning on sending the money back, they put it in some account and clearly would be drawing interest off my money, all the while charging me interest on the loan. They claim now they are sending it back by check, but they are not clear when that would be returned ( 3-5 days from now??, theyve had it for 3 days already ) They refuse to take a principle payment, they give excuse after excuse, they don't have supervisors and the bottom line is I have $ XXXX dollars in limbo. The idea that I can not pay off a debt to a lender is absolutely insane. The idea that " ohh sorry your money is just sitting there and we can't touch it '' is insane. I was willing to live by their 90 % rule, but they conveniently found a way to take that out of play. All of which frankly speaking sound like lies. They are stealing my interest, on my money and that makes them at best unethical and at worst corporate thieves. 

I am about to my breaking point.

Company response to consumer: Closed with explanation