Mortgage -- Trouble during payment process -- Complaint #6629952
Complaint Overview
Complaint ID: 6629952
Company: Broker Solutions, INC.
Product: Mortgage
Sub-Product: VA mortgage
Issue: Trouble during payment process
State: California
ZIP Code: 92532
Date Received: 2023-02-28T12:00:00-05:00
Date Sent to Company: 2023-02-28T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
Company : New American Funding Mortgage Loan Officer : XXXX XXXX XXXX XXXX VA Mortgage Closed : XX/XX/XXXX Summary : Lender incorrectly disclosed annual property taxes during loan processing and upon closing of our mortgage. Six months after closing and moving into our new home, New American Funding discovered its error and passed the burden of the shortfall onto us. We are bearing the responsibility for their mistake. We closed on our VA mortgage with New American Funding ( NAF ) on XX/XX/XXXX. On XX/XX/XXXX, NAF ran an analysis of our escrow account ; they discovered they had incorrectly calculated the annual property tax information when creating our loan estimates, closing disclosure, and subsequent mortgage and note documentation. NAF notified us that an additional {$310.00} would be added to our mortgage payment every month, for as long as we own the home. Additionally, because the escrow account had been shorted every month since we moved in, we would need to pay another {$270.00} every month for a year, to correct the shortage created by their error and the hardship would be passed on to our family. When initiating the original loan process, we tried to be responsible and buy a home in which we would be comfortable with the monthly payments and had a specific budget in mind. With this new additional payment, this home is now out of our budget. If the correct payment of our mortgage had been disclosed at any point during the loan process, we would have searched for a different home to fit within our familys budget. After numerous conversations, New American Funding did concede to cover the back shortage ( {$270.00} x XXXX = {$3200.00} ) ; they consider the matter settled. I told them I did not consider this matter closed because we are still expected to pay an additional {$310.00} every month, which is {$3700.00} per year or {$110000.00} over the 29.5-year life of the mortgage from that point.
Frequently Asked Questions
What is Complaint #6629952 about?
Complaint #6629952 was filed against Broker Solutions, INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-02-28T12:00:00-05:00.
How did Broker Solutions, 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 Broker Solutions, INC.?
Yes, visit the Broker Solutions, INC. company profile at readthecomplaint.com/company/broker-solutions-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.