Nationstar Mortgage Mortgage Complaint

Nationstar Mortgage Mortgage department,

FHA mortgage Loan servicing, payments, escrow account New York

On - -, -, Nation Star Mortgage took over the servicing of our home mortgage from - - -. When - - - was servicing our loan, our monthly escrow payment was calculated at $860.00. On a yearly basis, the amount we have been depositing into our escrow account has been $10000.00. We were completely startled and caught off guard when Nation Star, based on their - -, - analysis of our escrow account, aggressively increased our expected monthly escrow payments from $860.00 to $1000.00 in - of -. Our assumption is that for -, our escrow balance is expected to cover what it has always covered : Property Taxes, School District Taxes, Homeowners Insurance and PMI. We have seen no corresponding increases in our yearly responsibilities that come anywhere near requiring an extra $1700.00 be deposited into our escrow account.


-, the numbers were as follows : Property Taxes : $3100.00 School District Taxes : $4700.00 Home Owners Insurance : $830.00 PMI : $1400.00 Total Escrow Payments : $10000.00 In -, the numbers were as follows : Property Taxes $3300.00 School District Taxes : $4900.00 Home Owners Insurance : $810.00 PMI : $1400.00 Total Escrow Payments : $10000.00 In -, our expected numbers ( based on the recent school budget vote ) Property Taxes : $3200.00 ( see attached ) School District Taxes : $4900.00 ( based on recent school budget vote, no expected increase ) Home Owners Insurance : $940.00 PMI : $1400.00 Estimated Total Escrow Payments : $10000.00 Based on that math, our escrow payments for - should average $870.00. There exists no mathematical evidence as to why NationStar Mortgage has aggressively escalated our monthly escrow payments to $ -month without any corresponding increases in the accounts that our escrow balance is expected to cover. I spoke with a NationStar customer service representative that could not clearly explain the mathematical reasons as to why NationStar is requiring that we deposit an additional $1700.00 into our escrow account without any corresponding increases. We felt it was incumbent on our family to file a complaint directly with the Consumer Finance Protection Bureau as to NationStar 's policies involving escrow payments.