The Money Source Inc Mortgage Complaint

The Money Source Inc Mortgage department,

VA mortgage Application, originator, mortgage broker Florida

In - or - 2016, The Money Source, my mortgage company called me and said they were doing me a service to lower the interest rate on my mortgage at no cost, because I was a good customer. We started the mortgage refinance process in - or -, something I expected would be very quick since I already had my mortgage with them. But the process dragged out with me having to submit information over because they did n't get it, getting new requests from people I did n't know ( even a new request to lower my interest rate from some other person at The Money Source ), and slow responses from my loan officer. He said it would take about 30 days ; it took 90 day or more. I went through a lengthy process to electronically sign all the closing documents ; and then a closer came to my house and I had to sign all the documents over again. A week after the closing, I was requested to sign more documents. I was assured by the loan officer that this was not unusual. The loan officer told me I could skip a month on the mortgage


not gotten a response. On - - I got an escrow statement from the closed loan account ( attached ). It showed no refund to me. I have done several refinances and always the escrow from the old loan is refunded to me. I called customer service and they informed me that the escrow was used to pay principle on the loan. They also said that could not happen without my permission. At no time during the refinance was it stated that my escrow account would be used to pay principal, and I gave no such permission to do so. I complained to the loan officer, and he stated that " the process requires the monies be posted to your principle balance ... ''. I 've never heard of this process. I had anticipated receiving the escrow refund.