Consumer complaint received 2023-07-10 00:00:00
Product: Mortgage — FHA mortgage
Issue: Trouble during payment process — 
Company: Guild Holdings Company
State: MO

Complaint narrative:
To whom it may concern : I have called a few times and get different answers. I will be sending a Notice of Error via mail also, as per the CFPB instructions.

Over the last several months, I had compounded hardship due to unemployment, health issues and not having transportation due to mechanical problems. 

At the time of attempting to secure funds, in XX/XX/2023, my statement read that I owed {$1700.00}, which would account for XX/XX/2023 mortgage payment of {$870.00} plus $ XXXX late charges and XXXX of 2023 mortgage payment of {$870.00} XXXX XXXX XXXX XXXXXXXX XXXXXXXX XXXX XXXXXXXX XXXX XXXX XXXX XXXX was kind enough to send in Three ( 3 ) month rent plus late charges to Guild Mortgage Co. in XXXX at or around XX/XX/2023. The three ( 3 ) months mortgage payments were rendered in the form of two checks totaling {$2600.00}. One in the amount of {$1700.00} which is a little more, than the amount on the XX/XX/2023 statement. The second check for {$870.00}, which covered XXXX 's mortgage payment of {$850.00} plus {$21.00} late charge. 

Upon receiving XXXX 's mortgage statement, it showing an amount due of {$1700.00}. I do not understand this and was given different answers, by two different customer service representatives. One representative stating I have an overage and should apply tell the phone payment representative, to credit that to XXXX 's Payment, the other representative stating, any overages in funds received were applied to principal. 

It been very difficult these last few months and was so very grateful, in knowing I would be able to be able to pay XXXX 's mortgage payment myself, within the month of XX/XX/2023. I am recently back to work. 

Frankly, I am appalled that Guild Mortgage would be so devious, ethically and morally, to take the funds from XXXX XXXXXXXX XXXX XXXXXXXX, specifically granted and to be used, to bring me up to date, in mortgage payments, XXXX through XX/XX/2023. 

The last customer service man I talked to; stated they used any overages towards the principal on this loan?? And there was nothing I could do about it because it is in the loan contract somewhere. 

I have a letter from Guild Mortgage alerting me of the overage/unapplied amount, dated XX/XX/2023, asking what I would like to apply it too ... ... .. it states nothing saying this unapplied overage, will be applied to the principal. 

The funds received and mentioned above, need to be reapplied correctly ASAP and nothing put towards " extra '' principle. 

Here is the breakdown again, as mentioned above. This is simple math. 

XX/XX/2023 Mortgage Payment + Late Fee = $ XXXX = {$890.00} XX/XX/2023 Mortgage Payment + Late Fee = $ XXXX = {$890.00} {$1700.00} XXXX XXXX XXXX XXXX 1st check received in XXXX {$1700.00} XX/XX/2023 Mortgage Payment Amount {$850.00} There should be no late fee because second payment was also received in XXXX XXXX XXXX XXXX XXXX XXXX check received in XXXX {$870.00} The only amount I should owe, at the date of this email XX/XX/2023 is XXXX 's mortgage payment of {$850.00} plus a late fee. 

Please contact me at your earliest convenience and let me know if this matter has been resolved. 

Sincerely, XXXX XXXX XXXXXXXX

Company response to consumer: Closed with explanation