Mortgage -- Trouble during payment process -- Complaint #8274743
Complaint Overview
Complaint ID: 8274743
Company: New York Community Bancorp INC
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Trouble during payment process
Sub-Issue: Escrow, taxes, or insurance
State: Florida
ZIP Code: 32724
Date Received: 2024-02-02T12:00:00-05:00
Date Sent to Company: 2024-02-02T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
I have an FHA loan with Flagstar ending in XXXX. My mortgage payment was {$2200.00}. During XX/XX/XXXX they sent me correspondence advising me that there was an escrow shortage of {$5700.00}. On XX/XX/XXXX I paid {$2000.00} towards the escrow. On XX/XX/XXXX I paid {$1000.00} towards the escrow, for a total of {$3000.00} leaving a balance of {$2700.00} as a shortage. The bank deducted {$3100.00} as my XX/XX/XXXX payment and it said that my payment for XXXX will be {$3100.00}. I contacted the bank on XX/XX/XXXX, I spoke to XXXX ( may be spelled differently ). He indicated that my monthly payment will be {$3100.00} for the next 12 months. That they computed it by dividing the {$5700.00} by 12. He explained that XXXX will be added to the monthly payment. I asked him what happened to the {$3000.00} I had already paid. He explained how they computed shortages and thats how it will be. It seems to me that they did not take into account my partial payment of {$3000.00} to compute my new payment. In total they have increase my mortgage payment from {$2200.00} to {$3100.00} monthly. An increase of XXXX monthly. It appears to me that they are not following regulations at 12 CFR 1024.17 as my escrow is above the XX/XX/XXXX of the total annual escrow payments the bank anticipates to pay from the account.
Frequently Asked Questions
What is Complaint #8274743 about?
Complaint #8274743 was filed against New York Community Bancorp INC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2024-02-02T12:00:00-05:00.
How did New York Community Bancorp 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 New York Community Bancorp INC?
Yes, visit the New York Community Bancorp INC company profile at readthecomplaint.com/company/new-york-community-bancorp-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.