Request for repeat escrow analysis denied multiple times

[Sbrooks1]

I requested a repeat analysis due to refunded escrow after changing carriers took 45 days and was immediately deposited. The note before the deposit had gone from 1100 to 1543, which is way out of my comfort zone. Freedome Mortgage refuses to repeat the analysis even though I even offered to pay a service fee.   I guess I am stuck paying this amount only to be refunded come year end. I would never had chosen Freedom as a mortgage provider but was sold to them. 

[ShanetheMortgageMan]

Like they just straight up tell you "no" or are they saying that nothing changed from the previous analysis?  Either way, have you filed a complaint via https://www.consumerfinance.gov/complaint?  They're required to respond (usually do within a couple weeks), but even if their response isn't satisfactory the CFPB can get involved.

[Sbrooks1]

They say that nothing has changed, however I deposited back a large sum from refunded escrow.I see they had a violation in 2023  with a fine. That will be my next step. Appreciate the response. 

[TrapLine]

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@Sbrooks1 wrote:

They say that nothing has changed, however I deposited back a large sum from refunded escrow.I see they had a violation in 2023  with a fine. That will be my next step. Appreciate the response. 

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Go after them ... been through this myself and I did not pursue it. Different lenders but situation sounds all too familiar. Bought and sold many houses over the years and it seemed the new lenders wanted to over fund the Escrow Account the first year.

Did finally sit down and did my own cash flow analysis to see what was really required and did a slow burn. Frankly, until reading it here, I did not realize we had options!

[Sbrooks1]

Year 8 of my mortgage, when I requested for a 3rd time I mentioned I would file a cfpb complaint. I logged on this am to see if they had replied and my mortgage is down to 1270. Yay a win!

[TrapLine]

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@Sbrooks1 wrote:

Year 8 of my mortgage, when I requested for a 3rd time I mentioned I would file a cfpb complaint. I logged on this am to see if they had replied and my mortgage is down to 1270. Yay a win!

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This is good! What do they think they are doing? Aw, playing with your money ... got it 

[ShanetheMortgageMan]

Sometimes lenders just need to feel the heat before they comply.

[2b2rich]

I hate that your mortgage was sold to them but in my own experience they are EXTREMELY SHADY!  My last mortgage was ch 7 discharged (no reaffirm) and VU sold it to FM.  At one point I considered refinancing through them and within 24 hours of applying they were throwing out red flags left and right.   They did the work up and showing how much of my equity I would get and the day after I paid the appraisal fee I logged back in and they had redone the numbers and showed paying off my car and some cards and I was only going to be getting about $3k of the equity out of what was originally listed as $43k  NOTE:  my debt to income was fine and many of these things did not have  to be paid off.  The guy started avoiding me and would not reply to anything even when I said I wanted to cancel the application due to their fraud.  They eventually refunded my appraisal fee but from that point on I had huge concerns about being able to trust them so I ended up refinancing a conventional with PenFed and PF has been golden!

[Realist]

Sometimes lenders simply make a mistake and get it wrong.  Did you provide them with any new information for reconsideration?

When I was with NavyFed, they ultimately screwed up big time in my analysis.  The only lender to mess up this large.  I then proceeded to provide them ten (10) years of continued and consistent tax payments, with the link to online records.    They didn't have the means to adjust within the month or two, but it was resolved shortly after.   This was before all the heavily inflationary tax BS we're seeing today.