Consumer complaint received 2026-01-26 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Payment process
Company: CMG Financial Services, Inc.
State: IN

Complaint narrative:
I bought a home in XX/XX/XXXX and took out a mortgage that was acquired by CMG Financial in XX/XX/XXXX. CMG Financial transferred my mortgage to CMG Home Loans effective XX/XX/XXXX. 

On XX/XX/XXXX I contacted CMG Home Loans and requested a mortgage recast. On XX/XX/XXXX I received the recast instructions via XXXX Mail, including instructions on where to wire funds. On XX/XX/XXXX I wired {$380000.00} to CMG Home Loans, which represented more than 68 % of my outstanding principal balance. On XX/XX/XXXX the CMG online portal continued to list my principal balance as {$550000.00} which was the balance before I made my substantial principal payment. I called CMG and spoke to a couple of people before I reached XXXX in the XXXX XXXX. XXXX explained to me that the recast process took some time. I would receive an agreement to modify the terms of the mortgage that I would sign and return. My invoice for XX/XX/XXXX, due to be paid on XX/XX/XXXX, would reflect the larger, pre-recast total payment, but that payment would be later reallocated to reflect the much lower interest payment for the month of XXXX ( since I had paid XXXX 68 % of my principal balance on XX/XX/XXXX ) and the balance of the interest payment would be applied to principal. I received XXXX copies of the agreement modification on XX/XX/XXXX via XXXX, and I signed XXXX copies on XX/XX/XXXX and returned them to CMG via the XXXX  envelope included in the package. As of XX/XX/XXXX, I have not yet received an original agreement modification form executed by CMG and me. 

On XX/XX/XXXX I received a letter from CMG that said that the recast was compete and provided me with the new principal + interest payment ( combined, not separate ). I did not receive a new invoice, so was unable to confirm my new principal balance nor was able to determine how my principal and interest payments had each changed. I called XXXX again that day and he promised that a new invoice would be generated and sent to me, and reassured me that the reallocation of XXXX invoice payment would be complete soon and that a significant portion of that payment would be allocated from interest to principal. As of XX/XX/XXXX nothing had changed on the CMG portal so I called XXXX again and left a voicemail asking for an update on the timing of the payment reallocation and I also asked for my new amortization schedule. I was called back on XX/XX/XXXX from a member of his team who assured me that everything was on track. He also promised to send me my new amortization schedule. Later that day I received a link to a generic amortization schedule calculator. As of XX/XX/XXXX, I have not yet received an amortization schedule for my new loan balance. 

On XX/XX/XXXX I called XXXX again asking for an update on the reallocation of my XXXX invoice payment. The call went to voicemail and I left a message. On XX/XX/XXXX I received a call from a member of XXXX team who was very apologetic about the lack of action on the reallocation and promised to correct the situation, send me a new statement with specific documentation of the reallocation and would call me when this was complete. As of XX/XX/XXXX I had received nothing, so called XXXX again. I left a voicemail stating that I still have received nothing from XXXX, and if I did not receive the promised reallocation details by XX/XX/XXXX that I would file complaints with external bodies to force CMG to act. As of XX/XX/XXXX, I have received no details of a reallocation of my XX/XX/XXXX invoice payment. My principal balance has been adjusted to reflect the same balance that would be the case if the XXXX payment had not been reallocated. I suspect that CMG has no intention to reallocate my XXXX payment. That is, I believe that CMG has no intention of giving me credit for paying off over 68 % of my principal balance on XX/XX/XXXX as it relates to XXXX interest. By my calculation, CMG should have allocated over {$1300.00} of my XXXX payment to principal. That has not occurred, and I do not expect that CMG will make that reallocation without outside help.

I am requesting that CMG provide me with an accounting of my XX/XX/XXXX invoice payment ( paid XX/XX/XXXX ) and how the principal and interest should be adjusted based on my XX/XX/XXXX wire payment of {$380000.00}, as well as a firm date of when that adjustment will be applied to my account. I am also requesting that CMG provide me with an original copy of the amended mortgage agreement executed by me ( on XX/XX/XXXX ) and CMG. Finally, I am requesting an amortization schedule for my adjusted loan. 

Thank you for your consideration. I am happy to provide additional information upon request.

Company response to consumer: Closed with explanation