Mortgage -- Trouble during payment process -- Complaint #8038212
Complaint Overview
Complaint ID: 8038212
Company: Mr. Cooper Group INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Sub-Issue: Paying off the loan
State: North Carolina
ZIP Code: 27610
Date Received: 2023-12-20T12:00:00-05:00
Date Sent to Company: 2023-12-20T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I paid off my mortgage in full ( actually {$670.00} over payout ) and Mr. Cooper has gone full-predatory mode against me. First they miscalculated the amount due back to me of {$500.00}. Their payoff amount was {$1600.00} and I had an escrow of {$2200.00}. Just looking at those numbers ( not including their " suspense bucket '' shenanigans of {$160.00} and {$84.00} ) I would be due {$550.00}. XX/XX/XXXX Unapplied Funds Payment Reversal {$160.00} XX/XX/XXXX Unapplied Funds Payment Reversal {$84.00} If we do a more detailed analysis : {$63000.00} loan on XX/XX/XXXX at 4.5 % ( went down to in XXXX to about $ XXXX ) -- giving you ( generously ) {$310.00} interest = which would have become {$63000.00} by the end of XXXX if not for any payments. And then subtract the XXXX Escrow balance which was {$280.00} at that time. This gives an actual account balance with interest included and not including escrow of {$63000.00} going into XXXX. Then I made payments of {$64000.00} : XX/XX/XXXX : {$55000.00} XX/XX/XXXX : {$900.00} XX/XX/XXXX : {$900.00} XX/XX/XXXX : {$900.00} XX/XX/XXXX : {$5000.00} XX/XX/XXXX : {$1500.00} Subtract {$64000.00} payments from {$63000.00} and the amount amount due back is {$670.00}. Now using their payoff numbers ( which don't include their crooked mess with the suspension buckets ) I'm due {$550.00}. And a careful analysis of the money going back the last three months ( without the " suspension bucket '' nonsense and misapplied payments ) shows that I am due {$670.00}. And rather " coincidentally '' it seems like the ( approximately ) {$160.00} missing happened to go into a " suspension bucket '' on XX/XX/XXXX : XX/XX/XXXX Unapplied Funds Payment Reversal {$160.00} As if that wasn't enough, today ( XX/XX/XXXX ) they've changed the status of my account and reopened my PAID OFF MORTGAGE and are saying I OWE them {$820.00} by XX/XX/XXXX or they will charge me additional fees and interest. As of XX/XX/XXXX Unpaid principal {$240.00} Escrow {$770.00} By THEIR ACCOUNTING THEY OWE ME {$530.00} ( though it is actually {$670.00} ). But now they are demanding another {$820.00} even though they owe me money and my mortgage should be closed as paid in full.
Frequently Asked Questions
What is Complaint #8038212 about?
Complaint #8038212 was filed against Mr. Cooper Group INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-12-20T12:00:00-05:00.
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.