Consumer complaint received 2025-12-26 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — Paying off the loan
Company: EMI Equity Mortgage, Inc.
State: PR

Complaint narrative:
Loan ID : XXXX I am ( XXXX XXXX ) submitting a complaint regarding my mortgage loan, which was originally with XXXX Bank and is now serviced by EMI Equity Mortgage , Inc . The issue involves a contractual loan modification agreement, misleading servicing practices, the imposition of unauthorized charges, and a failure to provide proper notification of the loans maturity date. 

I entered into a formal Payment Reduction Plan ( PRP ) agreement with XXXX Bank. 

The agreement extended the loan term and established a final maturity date of XX/XX/XXXX. 

Under the terms, on the maturity date, I was required to make a final monthly payment and a one-time lump-sum payment of {$2100.00} for " other charges. '' The contract explicitly states this amount would not accrue interest during the life of the agreement. 

Failure to XXXX of XXXX : I received no written or verbal notification from the servicer regarding the approaching maturity date of XX/XX/XXXX, or the required lump-sum payoff amount. 

The first communication about the loan maturing was a phone call on XX/XX/XXXX 38 days after the contractual maturity date had passed. 

Servicer 's Misleading Acceptance of Payments : Despite the servicer 's current claim that the loan matured on XX/XX/XXXX, they accepted, processed, and retained my regular monthly payments on XX/XX/XXXX ( {$240.00} ) and XX/XX/XXXX ( {$240.00} ). 

This created a reasonable expectation that the loan was still active and the payments were valid. 

Imposition of Unauthorized and Incorrect Charges : On XX/XX/XXXX, the servicer issued a " Payoff Statement '' that included several unauthorized charges : A " Deferred Principal '' charge of {$2100.00}, which contradicts the contract 's term for " other charges '' and improperly implies the amount accrues interest. 

A principal balance of {$2.00}, which could not legitimately be assessed after the loan 's maturity. 

Interest of {$0.00} on amounts that the contract states are interest-free. 

These charges were imposed unilaterally and without any written modification to the original agreement, which requires mutual written consent for any changes. 

Pattern of Obstructing Access to Account Information : Beginning in XX/XX/XXXX, I made multiple written requests via email to access my loan statements and payoff information through the servicers online portal and customer service. 

These requests went unaddressed or were met with ineffective responses, preventing me from obtaining clear and timely account information as required by law. 

Actions I Have Taken : On XX/XX/XXXX, I sent the servicer a formal " Notice of Error and Request for Information '' under RESPA, detailing the errors and demanding correction. 

I have also filed a complaint with the local financial regulator ( XXXX - XXXX of the XXXX of XXXX XXXX ). 

To date, the servicer has not provided a valid corrected payoff statement, refunded the improperly accepted payments, or provided a clear justification for the unauthorized charges. 

The core issues are : Failure to provide required maturity notifications. 

Misleading acceptance of payments after the purported maturity date. 

Imposition of charges not authorized by the loan modification contract. 

Systematic obstruction of my access to accurate account information. 

I am seeking intervention to ensure the servicer corrects the payoff statement, removes all unauthorized charges, refunds the improperly accepted payments, and complies with federal consumer protection laws.

Company response to consumer: Closed with explanation