Caliber Home Loans, Inc Mortgage Complaint

Caliber Home Loans, Inc Mortgage department,

VA mortgage Loan servicing, payments, escrow account Virginia

My current mortgage company, Caliber Home Loans, took over my mortgage in -, - from - -, and they have perpetually miscalculated my mortgage payment / escrow, which has resulted in both insurance and monthly payment issues that have significantly affected my finances. Shortly after taking over the loan from - -, Caliber failed to make payments to my homeowner 's insurance company ( - - - ). - sent me notifications threatening to cancel my insurance due to a lack of payment. Several phone calls to -, -, and Caliber revealed Caliber had an incorrect address to which payments were supposed to be sent. For the years - had my loan, there was never an issue. - had passed along all the appropriate addresses and information, but Caliber chose to use a different address. Aside from lost time, we had to pay a large lump sum to - to have our insurance continue while Caliber figured out their issue.


to make payments ; therefore, our monthly payment was increasing to cover escrow costs. This new payment was an increase of $790.00 per month! This was a - % increase in the monthly payment ... a very significant amount with huge impact to our family budget. When I called to discuss the issue, I was told the error was my problem / fault. The implication was they could not be expected to calculate an accurate payment. Any error in their calculation, they claimed, was my issue for not ensuring they, as a mortgage company, could do proper math. Their error, in fact, was completely omitting payment of homeowner 's insurance. ( ANOTHER issue with insurance ... ). I absolutely understand that a monthly payment can change due to taxes, etc., but to change by 37 % is exceptional and egregious. There must exist some reasonable expectation between the consumer and the company ( especially a mortgage company ) that basic calculations are done correctly. Their error reflects institutional incompetence ; their attitude shockingly indifferent. They admitted the mistake, but offered no solutions that held themselves accountable for it. I 've never missed a payment. I did not ask or seek the relationship I am stuck in with Caliber. As a -, I can not accept their ridiculous lack of accountability. Their comedy of mistakes has and is affecting our ability to save for our children 's education and our retirement.