Business ProfileforFBC Mortgage, LLC

In 2022, our homeowners insurance company doubled our rate so we got a new policy with another company. We notified FBC of this change and they paid the new company. Unbeknownst to us, they also paid the prior company. Our taxes were paid out of escrow in November and at that time our escrow balance went below $0. FBC advanced our escrow and deposited money to cover the taxes. Not once were we notified of the escrow deficit. Several months later we receive an escrow analysis report which showed our escrow deep in the negative. This caused our payments to go up drastically to account for the deficit. According to Florida statute 501.137; “If an escrow account for the taxes or insurance premiums is deficient, the lender shall notify the property owner within 15 days after the lender receives the notification of taxes due from the county tax collector or receives the notification from the insurer that a premium is due.” This did not happen. Because we were never notified, we were not aware an additional payment was sent to the cancelled insurance policy. That company is now out of business and we are unable to get a refund of that premium. In 2023, we changed insurance companies again and FBC AGAIN paid the old company AND the new company ENTIRELY by advancing our escrow account which is still in the negative. Still, no notice of this deficit. We’ve called FBC DOZENS of times trying to get a resolution. Their phone is always a 20-30 minute hold. No one on the phone is helpful, they were unconcerned and uncaring. In desperation, we decided to hire an attorney thinking that would expedite the process. It’s now 6 months later, the attorneys have nearly given up because FBC has been unwilling to work with them either. FBC has been a disgrace of a company and has proven to be an abysmal custodian of our money. We’ve formally requested to stop escrowing due to this ILLEGAL mishandling of our money and have not heard back about that request either.