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DMH Accounting, LLC

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DMH Accounting, LLC Reviews (3)

In response to the notification received this date concerning the above
complaint, we have reviewed the original complaint as well as our response and
kindly provide this additional explanation in order to address our customer’s
concerns.
While the Real Estate Settlement Procedures Act (RESPA) mandates that
we perform an escrow analysis at least annually, we are not limited to
performing the analysis once annually at the completion of the previous
computation period. The servicer may
conduct an escrow analysis at other times.
The servicer may also change the computation period by issuing the
prescribed “short-year” statement. Since
Member Home Loan has currently chosen to complete the escrow analysis for our
entire portfolio in February, we neither excluded our recently closed loans
from this population, nor did we specifically select this loan to be included
in the population. Excluding this loan
from the “Mass” analysis in February 2015, would have resulted in an annual
escrow analysis not being performed until February 2016, which would have been in
violation of RESPA. Including this loan
in the population allows for it to be reviewed in our regular analysis cycles.
Neither the original complaint nor our response made mention of any
mistakes made prior to closing. As
previously stated, Member Home Loan did provide this borrower with an annual
Tax and Insurance Disclosure after closing that did not include all of the disbursement
projections required to establish the escrow payment. When informed of this error, it was promptly
rectified and the monthly payment adjusted accordingly. This borrower was initially informed of the
monthly payment at closing which includes a fixed amount for principal and
interest, but the escrow portion of the payment will fluctuate due to changes
in actual and/or expected escrow disbursements
Regarding this customer’s final request in order to resolve, as stated
in our previous response, check # *** was deposited in our bank on March 30, 2015, which is the process
for cashing all check payments received from our customers. Once funds are deposited, Member Home Loan
does not have control over the amount of time the various banking institutions
take to withdraw funds from the issuers account. *** *** may wish to contact *** *** *** *** *** directly to inquire about the status of this check
clearing the account. The funds have
been credited to our bank account and we have not received notification that
the item is being returned unpaid
We take our customers concerns very seriously and hope this additional
explanation will meet with *** ***’s satisfaction. If not, I may be reached directly at
*** or toll-free at *** ext***
Sincerely,
*** ** ***
Servicing Manager
Member Home Loan
v

April 21,
The Dispute Resolution Team
The Revdex.com
Re: Complaint ID#
***
*** ***
*** *** *** ***
*** *** *** ** ***
Loan #
With reference to the aforementioned complaint, when *** ***
originated the loan the monthly mortgage payment was established at
$2,574.47. This payment consisted of
$1,for principal & interest, $for tax escrow and $for
insurance escrow. The borrower received
the “Payment Letter to Borrower” and the “Initial Escrow Account Disclosure
Statement” at closing confirming the payment amount and reflecting the
anticipated payments to and from the escrow account. Funds from closing in the amount of
$1,978.00, as referenced on the HUD-Settlement Statement were initially
deposited to the escrow account
Subsequent to closing and as required by law and under the enforcement
of the Consumer Finance Protection Bureau (CFPB), Member Home Loan provided our
customer with the monthly “Loan Statement” for February and March indicating
$2,574.47, was due for each of these payments
Federal regulations also mandate that escrow accounts be analyzed at
least once annually. Member Home Loan
performed a “Mass” annual escrow analysis for their entire portfolio on
February 26, 2015, which as required provides the borrower with (1) historical
information regarding the escrow account, (2) the account projection summary
and (3) the account projection details reflecting the “current escrow balance
projection,” the “required balance projection” and indicating the “low point.” The account for *** *** was included in
this analysis. Based on this Tax and
Insurance Account Disclosure Statement, the borrower was informed that the
payment effective April 1st was changed to $2,023.48, and was issued
a refund of the escrow surplus in the amount of $756.23. On March 16, 2014, Member Home Loan furnished
the borrower with the required monthly statement for April reflecting this
amount being due.
Although we make every effort to ensure that no incomplete or incorrect
Tax and Insurance Account Disclosure Statements are produced, at the time of
this annual disclosure there was important information pertaining to the tax
escrow that had not been set up for this loan.
The borrower contacted our office and as stated in the complaint sent
Member Home Loan check # *** in the amount of $756.23, which was deposited to
the escrow account on March 30, 2015.
The correction was made to the tax projection information and the
borrower was furnished with the new Tax and Insurance Disclosure statement on
March 31, 2015. Additionally on April
16, 2015, as required, the monthly Loan Statement for May was produced which reflected
the adjusted payment of $2,
The increased payment amount reflects projections for taxes in the
amount of $6,and hazard insurance in the amount of $2,145.00, which is
an increase from the amount estimated at closing and based on the actual amount
billed and disbursed. A copy of the Loan
Activity Report reflecting the disbursement is included with this response
We do regret that our customer received incorrect information from our
office. When we were advised of the
error, we promptly responded and took appropriate measures to correct the mistake
In response to the remaining concerns mentioned in the complaint, while
our representatives may inquire as to availability of certain documents by the
borrower when they are assisting on the telephone, this is to allow the
representative to further discuss the account in detail and provide a more
rapid resolution, without having to place the caller on an unnecessary hold or
await a return phone call from our office.
We do maintain images of documents provided to our customers and would
not require them to produce or furnish our office with these documents in order
to resolve a dispute
It is currently our prescribed process to instruct the borrower to cash
the check we send for the refund and use a separate payment method to deposit
funds back into the escrow account. In
March when borrower contacted our office, our practice was to inform the
borrower to either return the check we had issued or send separate funds. We do apologize for any confusion this clarification
to our process may have caused
We do understand our customer’s frustration with the numerous
disclosures and statements receivedThese documents are all produced in
accordance with the requirements of the CFBP and RESPA (Real Estate Procedures
Act)
Member Home Loan strives to provide high quality customer care to all
of our clients and hopefully these explanations to the events that occurred
will reassure the borrower of our dedication to that goal
Sincerely,
*** ** ***
Servicing Manager
Member Home Loan
v

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  
[The response from [redacted] indicates that Federal Regulations mandate that escrow accounts be analyzed at least once annually.  I would like to know why my account was analyzed after only TWO months.  The fact that Member Home Loan performed a "Mass" annual escrow analysis has no bearing on my account and does not cover for the mistake made prior to closing of including the "required balance" in my escrow account..  They should already know about Federal Regulations prior to closing instead of misleading customers to believe their payment amount will be one thing and then AFTER closing apologizing for not knowing the law.   I understand that a required balance must remain in my escrow account but as mentioned before I am very frustrated because their oversight.  I have one final request in resolving this matter:  On 16 March 2015 I sent Member Home Loan a check in the amount of $756.23 which was deposited into my escrow account on 30 March 2015.  To date the check has not been cashed.  During one of my telephone conversations with a Customer Service Rep I was told "the money has been returned to your escrow account" along with a remark like as long as the money has been returned to your account I should not be concerned.  She did not explain the process or procedure for cashing escrow checks.  I would like this check cashed as soon as possible so I can balance my personal checking account.]As soon as opportunity presents itself I will refinance my loan with another lending agency. 
Regards,
[redacted]

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Address: 5829 S Franklin Road, Indianapolis, Texas, United States, 46239-9560

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