Home Point Financial Corporation
Consumer Complaints
There are over 341 complaints on file for Home Point Financial Corporation. Dated between 2019-11-25 and 2013-08-06.
Complaints Page 13
2017-06-26
FL
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Hi, My mortgage has been transferred to a new company last month. As indicated on the document, i scheduled my new payment to the new company via XXXX in the amount of {$2000.00} on XX/XX/XXXX. On XX/XX/XXXX i made an extra {$50.00} payment towards the principal which was applied.However, the {$2000.00} was never applied on my account, ten days later, i get an updated statement saying i missed a payment. I contacted them, provided them with a confirmation number from the bank that the payment was cashed by them. XXXX XXXX XXXX also called them. They said they needed to find my payment as they could not locate it. Now i receive collection letter EVEN IF I HAVE PAID. today, the company is saying the return the payment to XXXX XXXX XXXX and can not provide me with a confirmation or tracking information. XXXX XXXX XXXX has not receive the money as of XX/XX/XXXX that the company sent on XX/XX/XXXX. I have to make another payment to this company that i have no trust in. Please help me apply my money to my account!!!! The company is home point financial center. the incident is XXXX
Company Response: Closed with explanation
2017-06-25
Kingstree, SC
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: Our mortgage was being serviced by XXXX XXXX, they transferred mortgage to Home Point Financial Corporation effective XX/XX/XXXX. I sent my payment electronically through my bank ( XXXX XXXX XXXX ) payable on XX/XX/XXXX. Electronic payment was sent to Home Point and my account was not credited. I contacted Home Point via email and customer service telephone number ( XXXX XXXX XXXX ). I was asked to prove payment. I sent copies of my bank statement showing the payment effective on the date of XX/XX/XXXX. I was told that they do not accept bank statement as proof of payment. i went to my bank and had them fax proof of payment to Home Point. I received an email stating that they received my proof of payment and to allow 24 to 48 hours for my account to update. I waited over 48 hours and checked my account and the payment was still not posted. I contacted customer service again by phone and was told that the check they received was not legible and they sent it back to the bill payment processing center. I spoke to the Payment Processing Center, case number XXXX. I was told, and I have proof, that the money was transferred electronically. I will scan and attach documents from payment processing center and also email sent by Home Point Mortgage to me. They continue to deny that they received payment for our XXXX payment and now are demanding double payment for XXXX. Please advise as to how I should respond to this. Do I double pay in XXXX and wait for a refund?
Company Response: Closed with explanation
2017-06-22
Livermore, CA
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2017-06-13
Discovery Bay, CA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: My escrow account has been set up incorrectly and the bank is not doing anything to solve the problem. My monthly payment is {$2200.00} and it breaks out into Principal and Interest {$1300.00}, Escrow : {$870.00}. Escrow account should include taxes, insurance premiums and PMI. Taxes : {$4000.00} annually ( Parcel - XXXX XXXX County - CA ) Insurance Premium : {$390.00} annually and Private Mortgage Ins. {$210.00} monthly. If this is what my escrow account should include, plus any sort of " cushion '' I do n't know why it has been set up to {$870.00}. It should roughly be {$590.00} My escrow balance up to date is {$3300.00} which is far more than what it should actually be. I have requested my bank in several occasions to please update my escrow account by having an escrow account analysis done and they refuse. They say it will be done until XX/XX/XXXX and recently a representative emailed me saying it would be until XX/XX/XXXX. This is a huge difference and it is been a burden on my family.
Company Response: Closed with explanation
2017-06-07
East Lansing, MI
Trouble during payment process
Mortgage: Other type of mortgage
Company Response: Closed with explanation
2017-05-12
Shalimar, FL
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I refinanced my mortgage with Home Point Financial in XXXX of XXXX . I was abundantly clear that there would be no escrow of insurance and taxes. In XXXX of XXXX I received a letter from the company stating that they needed proof of flood insurance. I have maintained flood insurance since the original purchase of my home in XXXX . I promptly provided them with proof of flood insurance and had Home Point nam ed on the declaratory page. In XXXX of this year I began receiving anonymous letters from " Insurance Departmen t '' of Home Point Financial stating that they would begin escrowing for my flood insurance. I immediately contacted customer service ( if you could call it service? ) to point out the error as I maintain my own insurance and am happy to provide proof of coverage. I was told that I would be grandfathered in and would be exempt from escrow. Several weeks later I received another letter stating that I would be subject to escrow and flood insurance would be force placed on my mortgage. Again I contacted their alleged customer service department and was assured that the mistake would be corrected. Yesterday, I received a statement from Home Point Financial informing me that my payment had been increased by {$43.00} per month for escrow for flood insurance. I called the company and asked who the policy would be with and how much flood insurance coverage I would be supplied with. No one could answer my question as the " insurance department '' does not have a telephone. I asked to speak to the president and was told that he does not have a telephone.
Company Response: Closed with explanation
2017-05-03
Simi Valley, CA
Trouble during payment process
Mortgage: Conventional home mortgage
Complaint: I have been paying my mortgage payments to XXXX XXXX XXXX XXXX on time for many years. My account was clean with them. Now we have new loan handler " Home Point Financial '', XXXX XXXX XXXX , XXXX , NJ XXXX ''. Their new statement says that I owe {$61.00} ( Overdue amount ). I asked them to clarify the statement. They have send me the e-mail saying that I owe them from XXXX XXXX and XXXX XXXX I paid {$2300.00} on XX/XX/XXXX but due to some reason they have no record of receiving the XXXX XXXX payment. I talked the agent and paid XXXX ( wire transfer ) and got the confirmation # XXXX that my account is clear. I paid on XXXX and XXXX and XXXX on time. THE PROBLEM : The new company is not cooperating in correcting the problem. I need help.
Company Response: Closed with explanation
2017-04-17
Washington, DC
Loan servicing, payments, escrow account
Mortgage: Conventional fixed mortgage
Complaint: I sold my home and closed out my loan with Home Point Financial on XX/XX/2016. I have received documentation from the company that my loan has been paid in full. However, Home Point has failed to refund my escrow account. Four months after paying off my loan, the company owes me {$3100.00} in escrow refunds. I have contacted the company repeatedly to obtain these funds and Home Point acknowledges that it owes me this money. However, the company claims that they have mistakenly been mailing the escrow refund to my old address, despite my many and repeated attempts to update my mailing address. I have called customer service over and over again, and every time I call them they claim that the address update did n't go through and they somehow mailed the check to the wrong address, but they will absolutely correct the mistake, cancel the old checks, and expedite the mailing of a new check to my current address. The last time I called them and received this story was a month ago, and I still have not received the refund check. Nor have I been contacted by the company.
After so many attempts on my part to obtain these funds from Home Point Financial, I believe that the company is acting in bad faith and is attempting to withhold the escrow refund that I am due. It is now months late and there is no reasonable excuse for the company 's failure. I will be very grateful for any assistance that the CFPB can provide. Thank you!
Company Response: Closed with explanation
2017-03-23
Brentwood, TN
Loan servicing, payments, escrow account
Mortgage: FHA mortgage
Complaint: There are a couple of issues with Home Point Financial : 1. My first payment in XX/XX/XXXX was lost because the wrong account number was on the coupon I was given at closing. When they found it nearly a month later and recorded it on my account nothing was deducted from principal, interest, or balance and nothing was added to escrow ( XXXX ).
2. I was told at closing to pay my homeowners insurance ( {$820.00} ) myself with the escrow money sent back to me after closing, which I did. Then Home Point paid my homeowners insurance and took money out of escrow ( as should happen ). However, when the insurance company refunded the money to Home point the did not return it to my escrow account.
These XXXX items total {$1100.00} that should have been in escrow but was not. I have contacted them several times over the last year allowing them their usual 4-6 weeks to investigate, but there has been no resolution. The last time I contacted them I sent copies of my account with the issues highlighted along with their letter to me telling me they had the wrong account number on my coupon at closing and asked them to re-audit my account. Their response was a letter from them 4 weeks later stating that my inquiry on of my account shows my next payment is due XX/XX/XXXX in the amount of {$1100.00}. The payment has increased {$100.00} per month because they said I was {$790.00} short of escrow money where I would have been ahead by {$330.00} if they had refunded the money they owed me. The {$330.00} would have been due to an extra payment I made in XX/XX/XXXX because they sent me a new bill within XXXX days of receiving my XX/XX/XXXX payment.
I am XXXX years old, retired and on Social Security. With increases in my bills and no COLA increases in income I now do not have enough money to pay all my bills. I do not feel I should have to lose my house because Home Point Financial can not fix their errors and refuse to answer questions.
Thank you for your consideration, XXXX
Company Response: Closed with explanation
2017-03-17
New Market, AL
Application, originator, mortgage broker
Mortgage: Conventional fixed mortgage
Company Response: Closed with explanation
2017-02-16
Yeagertown, PA
Loan servicing, payments, escrow account
Mortgage: Conventional fixed mortgage
Complaint: The mortgage company is not paying the taxes from escrow on time.
1 ) They did not process the payments to tax authorities on time or they sent wrong amounts.
2 ) Even after multiple phone calls and escalations the problem persists.
3 ) They deducted the penalties from my escrow account although it is there mistake.
4 ) Now one of the taxes have gone into Lien.
Company Response: Closed with explanation
2017-01-27
Patterson, MD
Loan servicing, payments, escrow account
Mortgage: Conventional fixed mortgage
Complaint: I purchased a home and went to closing on XXXX XXXX, 2016 with Home Point Financial Corporation based out of XXXX, NJ. Communications, processes and overall professionalism have suffered from that point on. My insurance payment, that was collected at closing, was sent to an unknown address, with no policy number associated with it. In turn, my insurance payment was never processed and my home insurance policy was cancelled. Home Point determined it was my responsibility to track down the missing insurance check and have it applied to the correct account. After speaking with several insurance agents and several weeks later, I was able to resolve the issue ; Home Point offered no assistance in this process. I have recently received a correspondence that states : I now owe upwards of {$3500.00} for escrow shortage or padding of the escrow account ( they ca n't explain which XXXX ) ; this would increase my monthly payment by over $ XXXX month. These are not the terms agreed upon, nor is this an industry standard. It appears that this office has yet again not done it 's due diligence in correctly acquiring tax information or providing the buyer with the correct financial terms. Had I been given an accurate financial picture I could have made an informed decision based on the presented terms or gone with a different mortgage provider. I was not given the correct terms, the office personnel, which failed on my behalf are now attempting to leave me holding their mistake. I have only been in the home for 6 months, I have made every payment on time. I can not afford the terms they are trying to lock me into at this point. I understand escrows fluctuate, but what they are doing is unacceptable. They are not providing me substantial evidence on this wild variance in escrow figures/difference. I have not been treated fairly or with respect. I am not sure how many other customers have been treated this poorly and mislead on the terms of their mortgage. It would appear these practices are out right illegal, hence my complaint.
Company Response: Closed with explanation
2017-01-16
Hokendauqua, PA
Loan modification,collection,foreclosure
Mortgage: Other mortgage
Company Response: Closed with explanation
2016-12-28
RI
Loan servicing, payments, escrow account
Mortgage: FHA mortgage
Complaint: We closed on our fixed rate home loan at the end of XX/XX/XXXX. Our monthly payment, based on debt-to-income was approximately {$1400.00}. In XX/XX/XXXX we were notified of an increase of approximately {$300.00} per month due to a projected shortage in escrow. There was no significant increase in annual, local property tax or in homeowner 's insurance. The lender chose to pay both in full between late XX/XX/XXXX and XX/XX/XXXX, reducing escrow from close to {$3000.00} positive balance, to approximately {$2000.00} negative. After extensive communication with an attorney from the lender, we were able to reduce the monthly payment to about {$1500.00} per month. This was difficult, but manageable. In XX/XX/XXXX in spite of requests to pay the property taxes in quarterly installments ( as is recommended best practice and, as is easily demarcated by the tax bill, itself ), a notice was sent to us indicating the projected monthly payment based on escrow shortage was to increase to over {$1800.00}, as both the tax bill and the insurance bill were paid in full, again immediately before the annual projection was calculated. My income has neither increased nor decreased significantly. Therefore, the initial agreement in good faith, as well as the XXXX loan agreement, both based on a debt-to-income ratio calculated with full transparency of what we are able to pay, bears little resemblance to the monthly payment now owed, at a rate XXXX % higher than what we agreed to just XXXX years ago. We have been late in payment because of the financial hardship a {$400.00} dollar per month increase has caused. Now, we are receiving XXXX and XXXX default notices by mail each day. I have spoken with representatives from the lender, mailed them evidence of income, as they requested, and emailed them requests for modification. I have spent hours trying to rectify this situation and, when I have received a response, it is as if they are hearing this for the first time and are completely unaware of the situation. Or, I receive contradictory information, dated after they have processed a payment, indicating they still have not received a payment. Furthermore, they are requesting documentary evidence that has already been sent. Not only is this causing financial hardship, extreme anxiety, and personal frustration, it is also taking hours of time during which I should be performing my job duties to earn the extra money we so desperately need. It appears that the lender is exploiting a loophole in an otherwise fiscally responsible fixed rate mortgage in order to utilize projected escrow shortage to raise rates such that we are unable to meet timely payment and, thereby, default on our property. We have no intention of foreclosing.
Company Response: Closed with explanation
2016-12-22
Finksburg, MD
Settlement process and costs
Mortgage: VA mortgage
Complaint: On XX/XX/2016 I verbally accepted an offer for a refinance from Homepointe Financial. The loan XXXX pre approved me for a XXXX % interest rate for a VA XXXX and per our phone conversation advised that my rate was locked and if it were to decrease in this process they would honor a lower rate. I signed all of my initial disclosures on XX/XX/2016 with the notary provided. On XXXX XXXX I was notified that my loan was approved and that were set to move forward to closing. I do unsigned the XXXX XXXX and redisclosures on XX/XX/2016 and XX/XX/2016 I reached out to the loan XXXX to advise that all docs were signed and did not get a response. On XXXX XXXX I called to find out why we have not closed yet, I left a message with the receptionist as well as on the XXXX voicemail. Later this same day I received a call back for an individual from the company advising me that my loan is unlockable and that we would not be closing. They offered me a refund on my late payment for my current mortgage and offered me an apology. I reached out to the XXXX and to a higher up XXXX and was told that my loan was indeed never locked as promised and offered no alternative to getting the loan closed.
Company Response: Closed with explanation
2016-12-13
Discovery Bay, CA
Application, originator, mortgage broker
Mortgage: VA mortgage
Complaint: XXXX/XXXX/16, I started a refinance loan with, XXXX XXXX financial, XXXX XXXX XXXX CA. Within the first month of processing : the appraisal, credit qualification, application and pest inspection was completed. XXXX, I was asked for a military document that does n't exist, fortunately with the assistance of XXXX XXXX military personnel-I was able to prove my eligibility. 81 days later, I have not received any communication except " Required Disclosure Requirements '' must be met first before this loan can close. I believe that my file is being held until the rates change and then my loan will be charged an higher interest rate.
Company Response: Closed with explanation
2016-10-17
Piscataway, NJ
Credit decision / Underwriting
Mortgage: FHA mortgage
Company Response: Closed with explanation
2016-09-15
Temperanceville, VA
Loan servicing, payments, escrow account
Mortgage: Conventional fixed mortgage
Complaint: I have a mortgage loan through Home Point Financial. I privately purchase flood insurance for the property which I have the mortgage through. Home Point financial has illegally set up an escrow account for the flood insurance which I am purchasing privately. I have contacted them multiple times via telephone and sent multiple faxes requesting that this unauthorized account be removed from my mortgage. They have refused. They are not authorized to collect payment for a service which I am privately purchasing.
Company Response: Closed with explanation
2016-07-29
Council, NC
Application, originator, mortgage broker
Mortgage: Reverse mortgage
Company Response: Closed with explanation
2016-07-28
Credit decision / Underwriting
Mortgage: VA mortgage
Company Response: Closed with explanation
2016-07-27
Council, NC
Application, originator, mortgage broker
Mortgage: Reverse mortgage
Company Response: Closed
2016-07-08
Application, originator, mortgage broker
Mortgage: VA mortgage
Company Response: Closed
2016-07-08
Application, originator, mortgage broker
Mortgage: VA mortgage
Complaint: I was denied a refinance even though the VA explained to the lender that I qualified under intermittent occupancy based on my job being overseas. I was charged {$520.00} for an appraisal and had my credit report run while being assured by the VA and pre-approved by the lender that my loan was standard and fell well within guidelines.
Company Response: Closed with monetary relief
2016-06-02
San Ramon, CA
Application, originator, mortgage broker
Mortgage: Conventional fixed mortgage
Company Response: Closed with explanation
2016-05-05
FL
Credit decision / Underwriting
Mortgage: Conventional fixed mortgage
Complaint: I applied for a refinance cost out mortgage in XXXX 2016. I was conditionally approved within a short time. I have not been able to close on this loan, for reasons I believe are pretext to disguise discrimination on the basis of my age, XXXX, and race, XXXX.
Company Response: Closed