Mortgage -- Trouble during payment process -- Complaint #4331727
Complaint Overview
Complaint ID: 4331727
Company: Cmg Financial Services, INC.
Product: Mortgage
Sub-Product: Other type of mortgage
Issue: Trouble during payment process
State: New Mexico
ZIP Code: 871XX
Date Received: 2021-04-27T12:00:00-05:00
Date Sent to Company: 2021-04-27T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I refinanced my mortgage with CMG Mortgage Inc. on XXXX XXXX. At the time of the refinance, {$5200.00}, net of an aggregate adjustment of {$1000.00}, totaling {$4800.00} of initial escrow deposit was collected from me to pay the property taxes of {$4300.00} that were due on XX/XX/XXXX. CMG never paid those taxes on my behalf, nor did I receive the funds to pay them myself. Around early XXXX, CMG sold/transferred the loan to XXXX. I tried to call XXXX prior to contacting CMG and I just kept getting transferred to multiple people that would tell me that no tax payments were made. I contacted CMG in XXXX regarding the missed tax payment and they told me the " Loan has been sold/transferred ... CMG no longer has access to the account .... CMG has no funds ''. At the time of transfer, CMG noted that {$4800.00} plus {$860.00} ( from my XXXX mortgage payment ) totaling {$5600.00} was transferred to XXXX. Upon logging into my account with XXXX, this total was not reflected in my escrow account at transfer and was {$1700.00}, about {$4000.00} less than it should have been. As CMG would not take accountability or help me rectify the situation, I then contacted XXXX on XX/XX/XXXX. I was notified that I needed to submit the delinquent tax documentation to them. I sent the required documentation to them on XX/XX/XXXX. XXXX has since paid my delinquent taxes, but my escrow account went into the negative. XXXX has done research and noted that they only received {$1700.00} from CMG. I have corresponded with CMG through email and calling no less than 8 times, to request a copy of my documents involved in the sale of my loan to verify the full {$5600.00} of my escrow was in fact sent ... only to be told that I would hear back within 48 hours. I have yet to hear back and it has been over three months.
Frequently Asked Questions
What is Complaint #4331727 about?
Complaint #4331727 was filed against Cmg Financial Services, INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-04-27T12:00:00-05:00.
How did Cmg Financial Services, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Cmg Financial Services, INC.?
Yes, visit the Cmg Financial Services, INC. company profile at readthecomplaint.com/company/cmg-financial-services-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.