Advanced Remodeling and Contracting

As of 12/30 the remaining funds have been processed and a check will be sent out with those funds.  At Stonegate, our customer relationships are important to us.  As such, let me assure you we will work diligently to ensure we address such problems so they do not reoccur.

Our records reflect your last payment in the amount of $1,397.37 posted to your account on August 18, 2015.  As of the date of this letter you are due for the September 1, 2015 payment in the amount of $1,397.37.  Enclosed is a copy of your payment history for further review. Pursuant to...

the terms of your mortgage note, payments are due on the first day of the month and must equal the total amount due in order to complete a monthly installment. If you submit a partial payment, we may hold the amount in an unapplied funds account until you pay remaining balance or we can post it to the principal balance or any outstanding fees depending on the status of the account. 
In order to research missing payments we need proof a payment was received by Stonegate and not applied to your account, such as a copy of the front and back of a processed check.  Please send a check copies to us via email at [email protected] or via fax to 866.761.9159. Please note if we determine a payment was misapplied we will also correct late fees and credit reporting accordingly.Our records reflect you have been in communication with Erin [redacted] who attempted to reach you at phone number [redacted].  Erin left voice mails on November 3, 2015 and November 4, 2015 with no response from you. You can contact Erin directly at email erin.[redacted]@stonegatemtg.com or phone 419-525[redacted] with the information needed to research missing payments.
Please be aware your loan is currently in default as the payment due September 1, 2015 has not been received.  To cure the default you must pay the past due amount of $2,794.74 and the late fee balance of $120.20 for a total amount due of $2,914.94.  This payment must be submitted by cashier’s check, certified check, or money order on or before November 18, 2015.  Enclosed is a copy of the breach letter which was mailed to you on October 19, 2015 with additional information.If you are unable to submit the past due payment in full we may have other options available to you such as a repayment plan.  To see what options you might qualify for please contact us by phone at 1.800.686.2404.  Please also be advised that Stonegate is not authorized to transfer the ownership of your loan from its current owner to an investor of your choosing.

Per the terms of your deed of trust you are required to maintain flood insurance coverage on your account. If you do not supply proof of coverage the Servicer of your loan (Stonegate) may take a policy on your behalf to ensure the collateral of [redacted] [redacted] is protected from loss....

Stonegate did not receive sufficient proof of flood insurance coverage for the period of March 26, 2014 through May 19, 2015. As a result Stonegate purchased flood insurance for this period on your behalf in the amount of $1,041.96. If you can provide us with proof of flood insurance coverage for this period we will gladly issue a refund for the lender placed policy and run an updated escrow analysis. It is important to note Stonegate sent you two written notifications regarding the flood insurance deficiencies in 2014 before we charged the lender placed insurance policy to your loan.Your upcoming Allstate Flood insurance bill is due on July 19, 2015 for the coverage period of May 19, 2015 through May 19, 2016 and will be paid from your escrow account once your updated declaration page is received from Allstate. Based upon your request, we completed a new escrow analysis on your account with your updated Allstate Flood Insurance Policy effective for the May 1, 2015 payment.   Your May 1, 2015 installment has been updated to $814.47.  The new escrow analysis resulted in a total escrow shortage in the amount of $99.37 which has been spread over period of 12 months to help reduce the impact of the payment increase. As of the date of this letter your account is still due for May 1, 2015 installment, please remit funds as soon as possible in the amount of $814.47 to avoid negative credit reporting. We will be happy to delete your May 2015 credit reporting due to the issues you have been facing with your Flood Insurance.  Additionally we have waived the outstanding late fee balance of $75 on your account.Again if you can provide us with proof of flood insurance coverage for the period of period of March 26, 2014 through May 19, 2015, we will gladly issue a refund for the lender placed policy charged to your account and run an updated escrow analysis.

This letter is in response to the complaint you submitted to the Revdex.com (“Revdex.com”), dated November 17, 2017.  [redacted] Corporation (“Home Point”) takes all customer complaints and claims of poor service seriously and we have researched the issues raised in your...

complaint.  This letter is intended to respond to and address the concerns related to tax escrow disbursement.   After performing a review of your loan, our records indicate your city taxes were disbursed in the amount of $2,719.23; however, the check was stopped because we were advised your city taxes were already paid. Upon further review your county taxes were paid in the amount of $2,719.23 and your city taxes are still due for November 2017.   As a result, we manually disbursed escrow funds to City of [redacted], in the amount of $230.00, on 11/21/2017. The city tax amount with 30% discount for $161.00 was disbursed from your escrow account.  The additional $69.00 represents the Face Value, which was paid by [redacted].  Your county tax installment is scheduled to disburse in November 2018. We have enclosed a copy of your loan history to confirm the adjustments that were made to your account.               Tax Amount (30% Discount) if paid by 11/01/2017:            $161.00 Face Value Amount if paid by 12/31/2017:                      $230.00   At Home Point, our customer relationships are important to us and we appreciate the opportunity to address your concerns.  Your business is important to us and we value your feedback.  If you have any further questions concerning this response, please contact David K[redacted], Corporate Counsel, at (317) 663-5636.

Per the conversation with our Loss Mitigation department today, please consider this response as confirmation of the modification offer that has been presented to you.  Once the agreement is signed and returned, the trial plan will execute.

There were additional delays on your particular transactions due to the way that they were initially structured.  When [redacted] originally prequalified and priced the two homemortgages for you it was expressed to him that one of the properties was to be your owner occupied residence and...

the other was to be for a second home.  We did not discover that the owner occupied residence was actually vacant until we received the appraisal report.  As we progressed further into both transactions our underwriter pointed out that there was rental income reported on the second home on the tax returns we were utilizing to qualify.  This changed our occupancy designation to investment property on both transactions, which caused the terms of both loans to change.  The change in occupancy also caused significant delays due to the need for both files to be restructured, re-processed, resubmitted to underwriting and the subsequent requirement of additional documentation.   It is also my understanding that our requests for additional documentation were delivered with significant delays.As you have requested, we will be issuing you a refund for the cost of the appraisal.

We received proof of insurance coverage on February 2, 2015. Subsequently the lender placed policy was cancelled and the refund posted to your account on March 2, 2015. As a result we removed the forced placed escrow account from your loan. Additionally, we re-posted all payments affected by...

the forced placed escrow account. All late fees have been waived and your credit has been updated to reflect all payments were received on time.

Stonegate Mortgage Response  Revdex.com Case # [redacted] May 24, 2015   
 
Stonegate did not address the following issues:
1. The Stonegate Originator in California ( [redacted]) pushed for only a 30 year mortgage. This was not in my best interest as I told him. I kept asking for other options like a 25 year and 20 year mortgage.  After several weeks I again asked about the 20 and 25 year mortgage. He said “ I will not do it”.
2. I spoke to [redacted] supervisor and he recommended someone closer to me in San Antonio.  I was directed to [redacted]. I shared the other mortgage company’s offer and he kept informing me the only closing costs would be the $995.00 the rest would be absorbed by Stonegate. The other mortgage company gave me a 3.625% locked interest rate.  The big difference was the closing cost charged by the other mortgage company vs  Stonegate.  I held off getting an appraisal until I decided which company gave me the best offer.  I passed the information between both Stonegate and the other competing company. I had to show [redacted] of Stonegate the other company’s offer and interest rate. At first they were not going to match the other company’s offer. They finally agreed.  Stonegate only got my business due to assuring me of the low closing costs, no PMI, interest rate and mortgage monthly payment.
3.  I was offered a 25 year mortgage at 3.625% from Stonegate , but I kept trying to get a 20 year 3.37% mortgage. I was told I did not qualify by 1 point. I was currently paying more on my 30 mortgage then I would be paying for the 20 year mortgage.
4.  I was told that my mortgage would not be sold. That is why I should have qualified for the 20 year mortgage, and kept everything in house.
5.     Upon closing other Stonegate managers got involved. [redacted] could not correctly give me the proper escrow amount and closing costsI would be paying out of pocket.
6.  Closing was delayed and we did not close at the end of the month as promised by [redacted]. Several underwriters were on vacation. This cost me my PMI for that month.  [redacted] said he would try to recoup the funds and quit after my closing.
7. The response by [redacted] Stonegate’s Corporate Counsel. He states several times that I did not qualify for a term less than 30 years. This is just another example of mishandling by Stonegate.
The paperwork that Stonegate included in their response to the Revdex.com clearly states that I closed with a 25 year mortgage with 3.625% interest rate. 
Compensation:  I am still asking for a review of the 20 year mortgage to see if I qualify at Stonegate’s expense and all costs paid in closing other that the $995.00 quoted by Stonegate.
[redacted]
 Regards,[redacted]

On May 2, 2016, we submitted a credit correction request to all four credit bureaus for the March 2016 payment. Please note it may take the bureaus up to 45 days to reflect the change.  Additionally, I enclosed a copy of the confirmation letter that we recently emailed to you.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution would be satisfactory to me. 
Regards,
[redacted]

Please rest assured that Stonegate posts each payment effective the date the payment is received.  Per your payment history, your monthly installments have been posted to your account within the same month due.  Here is a three month snap shot of your account for reference: 5/1 Payment...

posted on 5/3/17Billing Statement generated on 5/3 (referenced as the Statement Date), prior to the 5/1 payment posting to the account, although on the same day4/1 Payment posted on 4/11/17Billing Statement generated on 4/5 (referenced as the Statement Date), prior to the 4/1 payment posting to the account3/1 Payment posted on 3/10/17Billing Statement generated on 3/3 (referenced as the Statement Date), prior to the 3/1 payment posting to the account The monthly billing statements are generated and mailed as of a point in time during the month.  If a payment has not been received and posted at the point the billing statement is generated, the billing statement may reflect that there are two payments due.  As referenced above, the reason you may see two months owing on a particular billing statement is a result of the timing in which the statement is generated versus the date in which the payment has posted to your account.  Please note that this does not impact your credit negatively, unless a payment that is owed is not received until the following month, thus reflecting as 30 days past the due date.

Stonegate has received previous credit disputes regarding the reporting of your January installment to TransUnion.  Below is an outline of the updates to your TransUnion credit report. The January 2016 installment was received 30+ days late on February 3, 2016.  In the subsequent January...

and February monthly credit reporting files submitted to the appropriate credit bureaus, the January 2016 was reported as paid 30+days past due.  In early March, a credit dispute was received from TransUnion regarding the credit reporting for the January 2016 installment.  This dispute was denied as the credit was reported accurately for the installment.  In late March, you spoke with a Customer Service Representative and requested an escalation to a manager.  After a review of your account, a Stonegate manager authorized a one-time courtesy deletion of the credit reporting for the January 2016 installment.  A credit correction was processed with TransUnion, deleting the credit reporting for the January 2016 installment.  However, the monthly credit reporting file was not updated accurately.  Due to this oversight, the subsequent March monthly credit reporting file reported the January 2016 installment as 30+ days late.  In late May, another credit dispute was received from TransUnion regarding the credit reporting for January 2016.  A credit correction was processed again with TransUnion deleting the credit reporting for the January 2016 installment.  At this time, the monthly credit reporting file was updated accurately to ensure accurate reporting going forward.  The subsequent May monthly credit reporting file shows appropriate reporting for the January 2016 installment.    Regarding the outstanding flood insurance disbursement issued to the incorrect address, funds have been received and reimbursed to your escrow account.    At Stonegate, our customer relationships are important to us.  As such, let me assure you we will work diligently to ensure we address such problems so they do not reoccur.  We apologize for the inconvenience this may have caused you.

Our records indicate a payment of $774.14 was received on May 14,2015. This was the correct payment amount according to the annual escrowanalysis run on February 25, 2015. Of this payment an additional $7.40 wasapplied towards the escrow shortage of $88.80. We received the remaining $81.40to pay the...

shortage in full on May 22, 2015. The funds were incorrectly postedto unapplied funds at that time. On July 13, 2015 the funds were reversed andapplied as intended.   We have enclosed is copy of the loan historyfor review. The billing statement which reflects a higher amount due wasgenerated on July 3, 2015 and mailed before the account was updated. Theaccount is currently due for the July 1, 2015 payment in the amount of $766.74.In addition, our records confirm we have received authorization from yourattorney to disclose account information.

The recent request for a modification was denied based on payment history and the ability tocontinue making the contractual payment. Our records indicate previous conversations statingthat a modification would not remove the mortgage insurance premium from the account sincethe loan would need to be...

seasoned at least five years from the date of origination and the loanto value ratio has to be at 78% or less. The current LTV is 92.1%, thus requiring mortgageinsurance premium to remain on the account.

Per our records, we received and posted sufficient funds to pay the loan off in full on February29th, 2016. Per the Real Estate Settlement Protection Act, we have 20 days (excluding legalpublic holidays, Saturdays and Sundays) to return any amount remaining in an escrow accountfrom the date the loan...

is paid in full. This timeline would allow us until March 25th to place theescrow refund into the mail. As a courtesy, I have escalated your request for the refund and it iscurrently in process scheduled to be placed in the mail on Monday, March 21st.

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that the response would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
Regards,
[redacted] Stonegate charged me for force-placed hazard insurance on a property that I have financed through them. I provided proof of coverage throughout the period that they said there was a lapse for. Arvez, from collections, confirmed that they received the coverage certificates in question and that I would receive a reimbursement for $560.03. I have not received that and it has been 23 days. I was told by customer service on 5/26/16 that I would not be receiving a reimbursement because there was a lapse in coverage. I again forwarded the documentation to customer service. All I want is my money back.I want reimbursement for $560.03, the amount I paid for the force-placed insurance that was unnecessary. I provided proof of coverage, they accepted and acknowledge there was never a lapse in coverage and instructed me that I should be receiving a credit shortly for $560.03. That is all that I want, is follow through on what was promised.

In reviewing your credit report, it was determined that one additional credit inquiry was pulled during the refinance process with Stonegate Mortgage.  The other inquiry from 7/24/2015 mentioned in the complaint was actually pulled by another mortgage company while you were shopping for your...

new mortgage.  At this time, I have initiated the process to have the one additional hard credit inquiry from Stonegate Mortgage removed from your credit history.  I am committed to follow this through and will update you when I have confirmation this has been completed.