Consumer complaint received 2024-08-12 00:00:00
Product: Mortgage — VA mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: MIDFIRST BANK
State: TX

Complaint narrative:
Complaints Against : Mortgagee Midland Mortgage XXXX XXXX. XXXX XXXXXXXX XXXX XXXXXXXX, Ok XXXX & XXXX XXXX XXXX  XXXX XXXX XXXX XXXXXXXX XXXX XXXX IA XXXX Subject : Complaint Regarding Deceptive Practices and Escrow Issues To Whom It May Concern, We are writing to formally file a complaint against Midland Mortgage and XXXX XXXX for deceptive practices regarding the terms of our mortgage loan, which was transferred from XXXX XXXX after 25 years. 

When XXXX XXXX informed us that our loan would be sold to Midland Mortgage, they assured us that the terms and mortgage payments would remain the same due to us recently doing a modification on the loan due to the forbearance we had due to Covid-19. However, after the transfer, we received a letter from Midland Mortgage stating that our escrow account had an overage, resulting in an {$11000.00} shortage. This discrepancy is unprecedented in the history of our mortgage payments. 

Upon receiving this statement, we immediately contacted Midland Mortgage to inquire about the significant difference. We were informed that the data was based on information provided by XXXX XXXX. We requested that Midland Mortgage verify the details with XXXX XXXX but were assured that all necessary information had been received. Despite our insistence that not all funds had been transferred, Midland Mortgage refused to investigate further. 

We were given an ultimatum to pay the {$11000.00} shortage upfront to maintain our current mortgage payment, or have it added to our loan, resulting in an increase in our monthly payments. This is concerning, as during our forbearance period due to COVID-19, XXXX XXXX modified our loan, placing frozen payments at the back of the loan and resulting in a new monthly payment of {$1700.00}. Midland Mortgage now claims our payment will be {$1800.00} for 60 months, which includes the {$11000.00} shortage that we do not owe. 

We believe Midland Mortgage is fraudulently adding this amount to our loan without proper justification. They are unwilling to investigate or correct the potential error, repeatedly insisting on the validity of the shortage. XXXX XXXX keep also telling us that all funds are accounted for and received by Midland Mortgage. Midland Mortgage states XXXX XXXX is stating that there should not be an overage of that amount because of the modification we done, and that Midland Mortgage is not looking at all the information that was transferred to them. XXXX XXXX is still confirming that all documents and funds were sent to Midland Mortgage, yet Midland Mortgage continues to deny receiving any escrow funds. 

Additionally, we submitted documentation proving my XXXX XXXX XXXX and XXXX  XXXX status as a military veteran, qualifying us for tax exemption. Midland Mortgage responded by stating they would keep these funds to address the escrow shortage, despite already increasing our monthly payments. This is unacceptable, and they have not provided any documentation for modifying our loan to reflect these changes. 

We have found Midland Mortgages customer service to be unprofessional and dismissive. They have repeatedly instructed us to resolve the issue with XXXX XXXX, despite XXXX XXXX is stating that they provided proof that they transferred over all the supporting documentation along with all the documentation of the modification that at done last year. Their refusal to investigate and rectify this matter, combined with their disregard for our veteran status, demonstrates a lack of care and ethical conduct. 

Now XXXX XXXX is not responding to us and has their phones set up when our telephone numbers call and having to put in the loan number it sends us directly over to Midland Mortgage. We are not able to speak with XXXX XXXX about the escrow account prior to them selling the loan. 

We request immediate action to resolve these issues of them adding additional money stating that we owe additional money for escrow. That they be look into based off the modification that was done with XXXX XXXX prior to the loan being transferred to them. Also to include a thorough investigation of the escrow fund transfer and adjustment of our mortgage payments to reflect accurate amounts based off modification. That any funds due to us be returned from the property taxes due to my day of exemption from my 100 % VA XXXX. XXXX Mortgage changed our mortgage payments and then after the fact tell us that they will keep the funds from the property taxes that we are due back to go to the escrow

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with non-monetary relief