Cardinal Financial Company, LP Mortgage Complaint

Cardinal Financial Company, LP Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Missouri

Hello : I recently took out a $180000.00 purchase mortgage with Cardinal Financial Company LLP ( loan # - ) that closed on -/-/-. On the closing disclosures I signed, the estimated monthly payment was listed as $1200.00 and included Principal & Interest ( $850.00 ) +Escrow of $350.00 to cover taxes and insurance. However, when I received the first statement ( for the payment due on -/-/- ), the monthly charge had increased by $80.00 to a new payment of $1200.00. When I called Cardinal Financial the week prior to the -/-/- due date to ask about the increase, they indicated that it was probably a charge for private mortgage insurance ( PMI ). I explained that there was no indication on my financial paperwork ( attached ) that there would be a charge for PMI. In fact, it specifically listed PMI as $0.00.


of my monthly payment of $1200.00 in writing and correct it going forward on my monthly statements. I have not heard anything definitive from Cardinal, other than to hear that the matter had been elevated to upper management ( that was last Thursday, -/-/- ). Since then, I received a letter from Cardinal ( dated - ) that they had received my payment of $1200.00 but would not apply the payment until they received another $80.00. In other words, if I do n't pay this additional amount, they will not credit my account and could report my payment as late. As I understand it, this is a violation of TRID rules ( RESPA and TILA ) and Cardinal is obligated to accept the payment in full as indicated on my closing documents. They can not charge additional fees simply because they want to. Since I have a high credit score and did make my payment on time ( on - ), I am concerned that Cardinal Financial Company LLP is trying to extort an additional payment they are not due by threatening not to apply my on-time payment. Separately, I received notice from - that they have purchased this loan. I imagine they wo n't be too happy to learn Cardinal misled me at closing. I could use your help in this matter. Thanks, - -