Nationstar Mortgage Mortgage Complaint

Nationstar Mortgage Mortgage department,

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

My mortgage loan servicer, NationStar Mortgage, blindsided me by applying principal payments to my mortgage without any notice. This came on the heels of an interest rate increase, and the two combined make my payment 150 % of what it was previously, which is a significant increase and causes a financial hardship for me. Apparently, my note was interest-only for 10 years or - payments, so they are within their rights. However, I would expect a reputable loan servicer to make sure their customer was aware of this type of increase well in advance. To expect a consumer to remember a change 10 years after signing the note is not reasonable.


set to alert me via email of changes in escrow, interest, etc. In the past, I have been notified of interest rate adjustments via letter and/or email so I know to expect them. In this case, I did NOT get any type of alert about the interest rate increase, and I also did not receive an alert about the application of principal payment. When I started investigating, I found a - interest rate change announcement buried in my online Billing Statements ; apparently a notice in Billing Statements does NOT generate an alert to the consumer. In -, they confirmed the interest rate increase and also inserted the principal payment. Again, there was no alert, and therefore no reason to review the online Billing Statement which has been consistently the same for so long. This practice seems incompetent at best and underhanded at worst. To add insult to injury, they consistently and annoyingly solicit me to refinance my loan ... and this is after I have already spoken to one of their loan officers who admitted they are unable to help me because they do not have access to accurate info on my property. They claim this is a " problem '' in Texas, so my question is, why do they keep bothering Texans with advertising and solicitation?