Nationstar Mortgage Mortgage Complaint

Nationstar Mortgage Mortgage department,

Conventional adjustable mortgage (ARM) Loan servicing, payments, escrow account Texas

I am writing you to express my concerns over the predatory practices of Nationstar Mortgage , LLC. I have attempted to resolve this issue with them through numerous telephone calls and online inquiries and have reached an impasse and desire external oversight. I purchased a home in - -, T- while on - - with the - - in - -. I financed the purchase with a mortgage through -. I have maintained insurance through - from the purchase through the present, including a windstorm policy that is handled by - but underwritten by the -. - sold the mortgage to - Mortgage in - -. - sold it to - - -, - in - -. Lastly - sold it to Nationstar Mortage, LLC in - -. The escrow account has paid both my fire insurance, the windstorm policy and - - property tax since I purchased the house, regardless of what company was servicing the mortgage without issue until - -. - mailed multiple statements to - seeking a payment of $520.00 for the annual renewal on the windstorm policy. It was never paid and the policy expired on -


LLC detailing a lender-placed insurance policy that was purchased for windstorm insurance for $2300.00 for coverage effective retroactively from - - - - -. After a detailed audit of my escrow account, I discovered the error, - 's failure to pay the windstorm premium in - -, and coordinated with - to have the - underwrite a new policy with an annual premium of $580.00 that was then disbursed from my escrow account on - -, -. The escrow refunded only $990.00 of the $2300.00 lender-placed premium and kept the retroactive portion from - - until the - policy was in-place. I think it is reprehensible to underwrite a policy retroactively when there is obviously no loss to insure against. This insurance cost of $1300.00 was significantly more than the $520.00 annual policy that should have been in effect. Additionally, - and Nationstar, by acquiring the mortgage, failed in their fiduciary responsibility to me as the consumer to maintain pre-existing insurance that had been on the property for over 10 years with no issues. I was the one who was - while the policy was lapsed from - - until - -. If a hurricane had hit the - -, I would have been the one catastrophically impacted! I have made over 10 phone calls to Nationstar seeking resolution of this issue. Most of their representatives have little empathy and even the ones that do, state that although the situation is unfortunate, it is the policy of Nationstar to pass the cost of their error on to me. I have contacted the Department of Savings and Mortgage Lending in -, T-, but because the property is not owner occupied I have been told that it is out of their jurisdiction. I am also contacting the Bureau of Consumer Financial Protection and the -. It would have been ideal if I had caught their mistake before a lender-placed policy was written but unfortunately I have been - for a year with a military -. I have had -. If I had known what a headache that this would become, I would never have setup an escrow account. I would have paid all of these bills without experiencing a policy lapse. After my terrible experience with Nationstar Mortgage, it is no surprise to me that they have an " F '' rating