Ditech Financial LLC Complaint: Loan servicing, payments, escrow account

#1585328 29 Sep 2015

Mortgage Other mortgage

Complaint #1585328 submitted on 09/29/2015 relating to Ditech Financial LLC. Complaint relates to Mortgage Other mortgage - Loan servicing, payments, escrow account .

Complaint was submitted via Web and sent to the company on Tuesday 29th September 2015.

Narrative (may be redacted).

Ditech ( formerly Greentree Servicing ) holds the second mortgage on my home. I have never missed a payment, nor been late on a payment in 8 years. Recently with the acquisition/merger, the ability to view the account ledger to show the activity and payment processing has been made available. In this balance sheet, it was noted that the payment was not being properly applied on the date of payment. The payment is still processed manually with a paper payment sheet, paid by check and sent by USPS first class mail monthly. The payment stub XXXX spaces for the customer to complete : Total Enclosed Dollar Amount, and Extra Amount to Principal. With each payment made, an additional amount toward the principal is always sent ( even though the mortgage is an interest only loan ). The appropriate amount ( overage ) is entered into the 'Extra Amount to Principal ' box with each payment, and is calculated by using the Total Payment Due subtracted from the total amount enclosed, where the payment amount due is the interest amount due for the monthly payment. Dating back to at least the XXXX quarter XX/XX/XXXX, the misappropriation of funds has been occurring resulting in turn having to expend considerable time each month calling the mortgage servicing company, to have the statements corrected. This was XXXX noticed though, only in XX/XX/XXXX, during that time the misappropriation of funds during XXXX quarters summed approximately {$2500.00} dollars above and beyond the required total payment due ( which all should have been applied properly to the Principal amount outstanding on the mortgage ). At times a delay of up to 72 days forward accrual can be seen on the accounting register ( meaning that a payment of principal in the amount of {$250.00} with a transaction date of XXXX will show an effective date of XXXX ). With an Actuarial type interest rate of 9.5 % the cost overrun which I am overcharged, just for this XXXX occurrence averages approximately {$3.00} per month, that the non-applied principal monies remain in flux. In essence, an over-payment in the amount of no less than {$27.00} has been made in the favor of the servicing company, which is unaccounted for funds.

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