Mortgage -- Trouble during payment process -- Complaint #8193055
Complaint Overview
Complaint ID: 8193055
Company: Arvest Bank Group, INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Sub-Issue: Escrow, taxes, or insurance
State: New Jersey
ZIP Code: 08050
Date Received: 2024-01-20T12:00:00-05:00
Date Sent to Company: 2024-01-20T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
We had our mortgage sold to and began servicing by Arvest in XXXX of XXXX. Since then they have mismanaged our escrow account each year, sometimes sending us notices that we overpaid and would send a check, and then other times telling us that the balance is too low and we must raise our mortgage payment monthly to cover the difference. This mismanagement and failure to maintain a proper escrow estimate has happened every year since XXXX. They also refuse to send proper NJ state required paperwork to our township to prove they are paying our taxes each quarter from the escrow, resulting in stressful notices of default from the town we must spend our time following up on. The increase in our monthly mortgage payment each year is an unfair expectation, because taxes and homeowner premiums did not raise, simply Arvests ability to properly manage the balance caused this.
Frequently Asked Questions
What is Complaint #8193055 about?
Complaint #8193055 was filed against Arvest Bank Group, INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2024-01-20T12:00:00-05:00.
How did Arvest Bank 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 Arvest Bank Group, INC.?
Yes, visit the Arvest Bank Group, INC. company profile at readthecomplaint.com/company/arvest-bank-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.