Consumer complaint received 2024-09-16 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Payment process
Company: Mr. Cooper Group Inc.
State: MD

Complaint narrative:
Subject : Formal Complaint - Nationstar Mortgage LLC d/b/a Rushmore Loan Servicing Mismanagement and Deceptive Practices To Whom It May Concern, I am writing to formally file a complaint against Nationstar Mortgage LLC, doing business as Rushmore Loan Servicing, regarding their management of my mortgage loan account, which they recently acquired. I have encountered several issues that I believe constitute a breach of agreement terms and potentially deceptive practices. 

Upon the transfer of my loan to Rushmore Loan Servicing, they altered the terms of the original agreement without proper notification or justification. Initially, my payment amount was {$1300.00}, which included both insurance and taxes. Rushmore refinanced my loan and subsequently increased this payment to {$1400.00} and failed to include insurance. This change was made without my consent, leaving me unprepared and requiring me to make higher & additional monthly payments and separate arrangements to cover the insurance cost. 

Further compounding the problem, on XX/XX/XXXX, I received a letter instructing me to contact my " Dedicated Loan Specialist, '' XXXX XXXX, at XXXX to discuss the release of funds that they were holding. However, this contact number did not provide direct access to XXXX XXXX or any specific department related to this matter. I was forced to use the hardship prompt to speak to a representative, which required multiple attempts and did not resolve the issue effectively. 

Rushmore is currently holding {$1300.00} of my funds, yet they reported a delinquency on my credit for a discrepancy of {$130.00}. This report is not only incorrect but misleading. The documentation they sent indicated that I owed {$130.00}, but when I finally reached a representative, I was informed that the balance was actually {$88.00}. Furthermore, they did not provide a receipt reflecting this amount. Their payment confirmation directed me to their website to 'see how my payment was allocated, ' but I have been unable to log into the website. Despite multiple attempts, I have not received the required code to log in. The conflicting information and inconsistency in the account balances, coupled with the inability to access my account details, have caused undue stress and confusion. 

I am deeply concerned about the lack of transparency and the unauthorized modifications made to the original loan terms. The inconsistent and misleading information provided by Rushmore Loan Servicing is unacceptable and raises serious questions about their business practices. 

I am requesting the Federal Trade Commission to investigate this matter thoroughly. My specific requests are as follows : An immediate investigation into Rushmore Loan Servicings practices, particularly concerning the modification of loan terms and reporting to credit bureaus. 
The removal of the reported delinquency from my credit reports. 
Assurance that there will be no further unexpected changes to my account balance. 
Thank you for your attention to this matter. I look forward to your prompt response and assistance in resolving this issue..

Company response to consumer: Closed with explanation