CMG Financial Mortgage Complaint

CMG Financial Mortgage department,

FHA mortgage Loan servicing, payments, escrow account Maryland

Completed FHA - refinance with appraisal in - 2015 with CMG. Paid $510.00 for appraisal all documents were correct at closing and all mortgage documents and FHA documents signed at closing reflect correct Mortgage Insurance Premium ( MIP ) of .0080 % for - months. ( See attached docs ) CMG sold rights to loan before first payment due. After I made first payment I noticed that the servicer - was deducting to much money from my escrow account for MIP. Contacted - and they informed that the loan was closed with FHA as - Refi without appraisal and the MIP was .0085 % for 30 years. I filed a complaint with the Comptroller of Currency as - is regulated by them and they sent a resonse. ( see attached ) - contacted CMG Financial because they caused the error. I recieved a letter from - - ( Vice-President of CMG ) ( see attached ). CMG offered to refund the excess for the life of the loan or refi at


not comfortable with that either because CMG no longer owns the rights to the loan and I have no guarantees if they become insolvent or are sold in the future that I will be refunded for 30 years. The FHA also said they require a Tangible benefit '' to refinance my loan and I would have to agree to a new 30 year loan. I have already paid more than $8300.00 in interest, MIP and UMIP on my current loan and do not want to lose that benefit because the loan company made an error. I agreed to a no cost '' refinance into a 29 year conventional loan at the urging of - VP. When the loan papers arrived for my signature they show that I must pay $8500.00 to refinance. That is not a no cost loan so I contacted CMG and they stated that I would have to agree to pay or they would not refinance. CMG has left me with a defective loan and does not want to fix it because it is too costly '' for them.