Mortgage -- Trouble during payment process -- Complaint #4408340
Complaint Overview
Complaint ID: 4408340
Company: Mr. Cooper Group INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Georgia
ZIP Code: 30017
Date Received: 2021-05-26T12:00:00-05:00
Date Sent to Company: 2021-05-26T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
My loan was transferred to Mr. Cooper from XXXX on XX/XX/2021. The loan is in good standing and came over in good standing but with an incorrect monthly payment amount which has caused misapplied payments, an incorrect escrow balance and an incorrect loan balance. I have spoken to six ( 6 ) different Representatives and your Escalation Department but the errors and mistakes continue to exist. This has been going for over 45 plus days since the loan was transferred to Mr. Cooper. Ive contacted Mr. Cooper by phone, I spoke with a XXXX on XX/XX/XXXX, I spoke to a XXXX on XX/XX/XXXX, I spoke to a XXXX and XXXX on XX/XX/XXXX, I spoke with XXXX XXXX on XX/XX/XXXX and XXXX XXXX on XX/XX/XXXX and continue to email XXXX XXXX XXXX for updates. All this has resulted in nothing, no action taken to correct my balances by Mr. Cooper. By their own admission, loan activity review and verification by each Representative the balances are incorrect. My monthly loan payments are made on time but are misapplied each month to the principal, interest and escrow. And still Mr. Cooper has taken no action to rectify these errors and mistakes since the loan transferred on XX/XX/XXXX. I sent a letter to correct the errors and mistakes on my loan. They only corrected the amount for XXXX on XX/XX/XXXX but not the misapplied principal, interest or escrow balances for XXXX and XX/XX/2021. I was told if there were any misapplied payments they were done. Here are the details for the adjustments and corrections. Prior to Mr. Cooper taking over loan servicing, payments were made to XXXX for the projected escrow shortage. These payments were made prior to XX/XX/2021 in the amount of {$140.00} reapplied on XX/XX/2021 from date of payment on XX/XX/2021, {$140.00} on XX/XX/2021, {$1000.00} on XXXX and {$670.00} on XX/XX/2021. The total amount paid for the escrow shortage was {$1900.00} and all this was not applied to the escrow appropriately. The XXXX payment was made to XXXX on XX/XX/2021 in the amount of {$2300.00}, the extra {$140.00} should have been applied to principal. The XXXX payment was made to Mr. Cooper on XX/XX/2021 in the amount of XXXX, the extra {$140.00} should have been applied to principal.
Frequently Asked Questions
What is Complaint #4408340 about?
Complaint #4408340 was filed against Mr. Cooper Group INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-05-26T12:00:00-05:00.
How did Mr. Cooper Group 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 Mr. Cooper Group INC.?
Yes, visit the Mr. Cooper Group INC. company profile at readthecomplaint.com/company/mr-cooper-group-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.