ComplaintsforAnnieMac Home Mortgage

• Initial Complaint

  01/25/2022

  Complaint Type:

  Billing Issues

  Status:

  Answered

  More info

  I’m a veteran who purchased his first home through this mortgage company and had insurance and taxes written into the contract to be escrowed but a payment was taken by my bank I asked them and they said that the mortgage company had not paid in the last five months even though it’s paid into my monthly bill I called the mortgage company and they said it wasn’t ever escrowed which was a lie I have all of my billing statements that say it was now the bank plans to take money from me since AnnieMac won’t pay and AnnieMac said they would put escrow on for a additional 135 dollars a month. I’m getting ready to have my first child and between the bank not refunding me and the mortgage company not wanting to pay the insurance and charge me head over heels it’s putting a massive strain on my family’s financials. I’m seeking help because my payment was supposed to be 742 a month and now the mortadella company wants to randomly increase it to 835 even though it’s a breach in our contract which I have a copy of.

  Business response

  03/14/2022

  Re: BBB Complaint Number: ********
  Complainant: ***** *********
  
  Dear Ms. R*****:
  
  I write on behalf of American Neighborhood Mortgage Acceptance Company LLC d/b/a AnnieMac
  Home Mortgage (“AnnieMac”) in response to the above-referenced complaint, which was submitted by
  ***** ********* (“Complainant”). The Complainant alleges as follows:
  
  • His mortgage loan was originated with an escrow account pursuant to which AnnieMac was
  responsible for tendering payments of property taxes and homeowners insurance premiums.
  • AnnieMac mistakenly failed to tender payment of his homeowners insurance premium when it
  came due.
  • When Complainant called AnnieMac to discuss this matter, he was erroneously advised that he
  had waived escrows on his account. At that time, AnnieMac offered to add an escrow account
  for an additional $135.00 per month.
  • Whereas the monthly loan payment was supposed to be $742 per month, Annie Mac wants to
  increase the payment “randomly” and unjustifiably to $835 per month.
  
  Upon conclusion of an investigation of the circumstances, AnnieMac has determined the following:
  
  • The loan was in fact set up for tax and insurance escrows. I have enclosed a copy of the First
  Payment Letter that Complainant signed at closing on October 16, 2020. The First Payment
  Letter provides the following breakdown of the initial monthly payment:
  
  Principal and Interest $633.17
  Estimated Taxes 51.61
  Hazard Insurance 75.78
  Total Monthly Payment $760.56
  
  
  *** **** **** Drive, Suite **** *** ******, New Jersey 08054
  Telephone (866) ********
  
  
  
  • As the result of a technical error on our part, AnnieMac’s loan servicing system did not
  recognize AnnieMac’s obligation to pay the homeowners insurance premium out of the
  escrow account, which Complainant funded with his monthly payments.
  • Ultimately, the mistake was addressed and AnnieMac paid the annual homeowners insurance
  premium on February 3, 2022.
  • AnnieMac reanalyzed the escrow account on February 22, 2022. It determined that the new
  monthly payment will be $809.49, beginning with the payment due April 1, 2022. The
  enclosed Escrow Analysis provides the following breakdown of the new monthly payment:
  
  Principal and Interest $633.17
  Required Escrow Payment 142.61
  Shortage/Surplus Spread 33.71
  Total Monthly Payment $809.49
  
  The total shortfall resulting from AnnieMac’s error is $404.52. ($33.71/month for 12 months.)
  
  To cover Complainant’s damages, within the next ten (10) business days, Complainant will receive a
  check in the amount of $500.00 from AnnieMac Home Mortgage.
  
  AnnieMac sincerely apologizes for its errors and the Complainant’s consequential inconvenience.
  
  You may contact me with any questions or concerns at ************@annie-c.com.
  
  Sincerely,
  
  Jeffrey B******
  General Counsel
  
  
  *** **** **** Drive, Suite **** *** ******, New Jersey 08054
  Telephone (866) ********
  
  
  

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