Stearns Ventures, LLC Mortgage Complaint

FHA mortgage Loan servicing, payments, escrow account

Stearns Ventures, LLC Mortgage department,

FHA mortgage Loan servicing, payments, escrow account Virginia

My payments with Stearns were $960.00 to start in - -. This was to include my escrow for HOI and taxes along with my PMI. -/-/- they started taking out $14.00 for my PMI. I never disputed because I did n't know there was an issue. In -/-/- they did an escrow account analysis and then sent me a disclosure that my payments were going to be $ - They erroneously took the entire deficient and put my escrow account in the RED by thousands of dollars. Stearns not deducting the correct amount for my PMI actual put me into a financial hardship. I have made numerous phone calls trying to get the break down for the escrow account and to also to try and figure out where the disconnect was in the amount increase. After 86 hours of making telephone calls and getting the run around I gave up trying. I hope since now I see that I am not the only person with the same complaint something can be done. I had to bring over $4000.00 to the closing table to get a refinance because of their negligence. They also said to me that if I were smart I should have picked up on the incorrect payments, with that being said you have to be of a certain caliber to own a home. This is a total disgrace to the mortgage industry and the scams that occur every day.

Stearns Ventures, LLC customer in Virginia
Jun 01, 2016

* Source: CFPB Complaint Database

Stearns Ventures, LLC response to complaint:
Closed with explanation

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