Consumer complaint received 2026-04-21 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: MONEY SOURCE, INC., THE
State: CO

Complaint narrative:
I am filing a complaint regarding XXXX handling of my escrow account, repeated escrow shortages based on incorrect tax information, and XXXX failure to timely correct my escrow analysis despite receiving updated documentation. On XX/XX/XXXX, XXXX issued an escrow shortage notice stating a shortage of {$1500.00}, increasing my monthly mortgage payment from {$5000.00} to {$5200.00}. I contacted XXXX multiple times beginning in XX/XX/XXXX to understand the cause of the shortage and was told that if I cured the shortage, my payment would be approximately {$5100.00}, including a twomonth cushion. On XX/XX/XXXX, I began a refinance with XXXX due to the unusually high escrow shortage and to remove a coborrower. During the refinance appraisal, I learned that my home had been incorrectly classified as having a basement, when it is actually built on a crawlspace. This prompted me to contact the XXXX XXXX Assessor, where I confirmed that I had been improperly taxed for a basement that does not exist. I filed an appeal with the Assessor on XX/XX/XXXX, and the property record was corrected on XX/XX/XXXX. I immediately submitted the corrected tax bill to XXXX through their portal and confirmed receipt through multiple phone calls. Despite this, on XX/XX/XXXX, XXXX issued a second escrow analysisless than six months after the firstshowing an additional shortage of {$2700.00}, increasing my payment to {$5400.00}. This resulted in {$4200.00} in escrow shortages within five months and 26 days, both based on incorrect tax data. I contacted XXXX repeatedly to request correction of the escrow account. I was told : The review could take 10+ business days, There are no hardship options unless I become delinquent, I should shop for cheaper insurance or look into tax exemptions, none of which apply to me. XXXX confirmed receipt of the corrected tax bill, yet my escrow account has still not been updated. On XX/XX/XXXX, I was informed that my XX/XX/XXXX property taxes would be paid from escrow and would create a shortage. Based on the corrected tax bill, the shortage should be {$1500.00}, not {$2700.00}. Had I not identified this discrepancy myself, XXXX would have collected an additional {$1100.00} from me. The escrow shortages and XXXX failure to correct my account have caused financial hardship. XXXX own escrow notice states that borrowers experiencing hardship should contact the servicer for assistance, yet I was told no options exist unless I fall behind on payments. I am requesting the following relief : 1. Immediate correction of my escrow analysis using the updated XXXX XXXX tax assessment. 2. Adjustment of the escrow shortage to the accurate amount of {$1500.00}. 3. Refund or credit of any overcollected escrow funds resulting from XXXX errors. 4. Approval to remove property taxes from escrow or close the escrow account due to documented hardship caused by XXXX delays and inaccuracies. 5. Written confirmation of my corrected monthly mortgage payment. 6. A full explanation of why two escrow shortages were issued without verifying the accuracy of the underlying tax data. I have acted in good faith, provided all required documentation, and attempted to resolve this directly with XXXX. I am requesting CFPB assistance to ensure XXXX corrects my escrow account and prevents further financial harm.

Company response to consumer: Closed with explanation