Complaint #1534638 submitted on 08/25/2015 relating to Astoria Bank. Complaint relates to Mortgage Conventional adjustable mortgage (ARM) - Loan servicing, payments, escrow account .
Complaint was submitted via Web and sent to the company on Wednesday 26th August 2015.
My home insurance policy covers XXXX years for one-time only fee. My mortgage bank ( Astoria Bank ) is supposed to accrue the insurance premium over the XXXX years. Each time I renew my policy the bank recalculates my escrow payment incorrectly, forcing me to pay {$1200.00} more per month until I complain and they spend the requisite few months correcting the error. They will not call me to confirm that they 've sorted out the problem. I have to call them every XXXX weeks until they confirm, waiting in the queue for many minutes during my busy workday. Meanwhile they threaten me with ~ {$250.00} fines if I do n't make a full payment - a payment that has grown by {$1200.00} overnight without any change in my interest rate, taxes, or insurance rates, so it is obviously incorrect. This is my XXXX renewal and my XXXX time dealing with their incompetence. I am starting to think the mistake is willful - the bank gains the interest on an escrow account balance that is n't needed.
| Company | Astoria Bank |
| Complaint ID | 1534638 |
| Date Received | 08/25/2015 |
| Product | Mortgage Conventional adjustable mortgage (ARM) |
| Issue | Loan servicing, payments, escrow account |
| State/ZIP Code | NY 112XX |
| Consumer Consent | Consent provided |
| Company Public Response | |
| Company Response To Customer | Closed with explanation |
| Submitted | Web 08/26/2015 |
| Result | Timely Response: Yes, Consumer Disputed: Yes |
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