Stonegate Mortgage Corporation Mortgage Complaint

Stonegate Mortgage Corporation Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Texas

I purchased my house in - -. My monthly payment includes the principal, interest, mortgage insurance, homeowner insurance, and property tax. The homeowner insurance and the property tax payments are collected under the escrow account. My monthly monthly payment was initially around $1300.00 including the everything. I recently learned that my monthly payment jumped to $1900.00. After several attempts, I learned that even though the mortgage company collected the property insurance from me on monthly bases, THEY NEVER PAID it to the insurance company. Now the mortgage company tells me that homeowner insurance from -/-/- to -/-/- is missing. And that they are charging me around $5700.00 to cover the missing period without my consent. I paid my homeowner insurance payments in advance to the mortgage company.


Neither the insurance company nor the mortgage company informed me about the missing payments. I always assumed and more importantly paid for the homeowner insurance. Now, the mortgage company significantly increases my payments -that is - % increase- ( from $1300.00 to - ) My concerns : 1- Why do I have to pay for the mortgage company 's mistake? Had they paid the insurance premium they collected from me on time or informed me that they could n't pay none of this would have happened. 2- What is the logic behind purchasing insurance for the past time? 3- Why is mortgage company charging me two -to- three times more than the regular insurance premuium even though it is clearly their fault? 4- My biggest concern is that the mortgage company is either doing this on purpose of is not competent to collect escrow. This is not the first time they mismanaged my escrow. They previously charged me for flood insurance where the documents they provided me in closing clearly said there is no need for flood insurance. There was never any discussion on flood insurance, never purchase, but the mortgage company did charge for it for around two years ). When I noticed and told them about it they asked me to get proof from the county. In my experience, I suspect the mortgage company is either deliberately overcharging/abusing the escrow accounts or they are not competent. Either way, I think it should be investigated to see how many customers are in similar conditions as I am.