Business ProfileforAtlantic Bay Mortgage Group

They took money in escrow to pay our property tax. They didn’t pay the taxes so we incurred fines etc…. Had to pay out of pocket. They then refused to give us back our escrow money immediately and the process took months to resolve. No apology no reparations. I’ve never had to explain what escrow is to a mortgage company nor do I think I should have to. We feel we are owed the interest and the penalties that we paid. This whole situation is a prime example of unprofessionalism and sheer incompetence

Atlantic Bay Mortgage Group, L.L.C. (“Atlantic Bay”) is in receipt of the above-listed complaint, received July 1, 2023. The complaint filed by Mr. Samuel ********* with the Better Business Bureau (“BBB”) indicated that he has experienced issues related to his escrow account specifically with his property tax on his mortgage account #XXXXX***** (LoanCare #XXXXXX****). Mr. *********’s complaint further states that he has attempted to resolve this issue various times with LoanCare’s Customer Service Department, however a resolution has not been reached. Atlantic Bay is in the process of investigating the complaint and has further contacted LoanCare, LLC (“LoanCare”), who services Mr. *********’s loan, to determine how we may assist in rectifying the situation. LoanCare has indicated to Atlantic Bay that they are currently investigating the complaint as they have no record of this communication. Atlantic Bay will work with LoanCare to offer a response no later than Monday July 10, 2023. We regret any frustration this matter may have caused Mr. ********* and appreciate his patience while LoanCare works to research this matter. Notwithstanding the above findings, Mr. *********’s experience as a customer does matter to Atlantic Bay. We pride ourselves in giving our customers a first-class experience. We are disappointed that there may have been a misunderstanding or miscommunication that may have negatively impacted his experience with us.

Atlantic Bay has completed our investigation of issues related to Mr. *********’s complaint. LoanCare has no record of speaking to Mr. ********* regarding the issue with his escrow account, specifically the nonpayment of his property taxes. In December 2022, LoanCare submitted payment for the current taxes due to the appropriate county. If Mr. ********* made any out-of-pocket payment to include interest and penalties, please provide LoanCare with either a copy of the front/back of a cancelled check or bank transmittal if the payment was made electronically. In June 2023, an annual escrow analysis was performed on Mr. *********s account, the loan payment was adjusted effective August 1, 2023, to reflect any anticipated increases to his escrow. We regret any frustration this matter may have caused Mr. ********* and appreciate his patience while we have researched this matter. Notwithstanding the above findings, Mr. *********’s experience as a customer does matter to Atlantic Bay. We pride ourselves in giving our customers a first-class experience. We are disappointed that there may have been a misunderstanding or miscommunication that may have negatively impacted his experience with us