HomeStreet Bank Loan Servicing

In response to Ms***’s specific points: #1:? We have researched our records back to April and HomeStreet Bank has no record of receiving any documentation via fax, or USPS as noted by the customerOur records note two calls received from the borrower but neither is pertaining to the Senior Deferral.? Any explanation as to why we did not receive this documentation would be speculation #& #3:? The refund Ms [redacted] received in December represents the overage in the escrow account based upon the Annual Escrow Analysis at that time.? It is not an exact refund of the tax refund as hazard insurance is still due.? The Annual Escrow Disclosure statement and an accounting of escrow disbursements and deposits were sent to Ms [redacted] via Federal Express, (tracking number available upon request) on 12/29/2015.? We will re-order a copy of the overage check and analysis and provide this to the borrower within days #4:? Per regulatory guidelines, HomeStreet Bank produces an Annual Escrow analysis each December for the State of Oregon.? HomeStreet Bank would not be able to remove the collection of escrow until it was validated from the county that no tax payment was due, which happened in November 2015.? The annual escrow analysis was then completed in December 2015, which determined the new payment, with an effective date of February because, per RESPA guidelines, we are required to provide a day notice of any payment change, either an increase or decrease Because of the 45-day RESPA guideline, Ms***’s December and January payments remained the same as previous months.? Funds received from the borrower on 01/05/were not sufficient to satisfy the December and January payments.? Instead, the funds satisfied the December payment with a balance remaining due for January 2016.? On 02/05/additional funds were received, and satisfied the remaining due for January 2016.? The new payment amount was not in effect until February 2016.? The account currently has an amount due for the March payment

Due to misinformation, HomeStreet Bank was billed for an incorrect property parcel in place of the borrower’s propertyUpon learning of the mistake, HomeStreet Bank ensured the funds were transferred to the correct parcel and paid any fees assessed to the borrower’s account by the countyWe have reached out to the borrower and explained the events as they had occurred

Complaint: [redacted] I am rejecting this response because: ? The events did not occur as simply Homestreet outlines.? After I filed the complaint, I had a conversation with Margaret H [redacted] from Homestreet Bank for over minutes reviewing the details and timeline of the issue.? Absolutely nothing was done to address any of the specific issues I raised on that call? Once again, Homestreet demonstrates their lack of customer service.? For a customer with a mortgage generating over $1500/month in interest to the bank, it is disappointing to see the failure to outline the bank's actions and the subsequent impact on me as a customer (increase of $600/month in escrow payments).? As a result of their repeated failure to adequately manage the escrow account, we have subsequently moved our business to another local bank.? Sincerely, [redacted] ***

While we understand the borrower is frustrated with the process of escrow payment and refund on her loan, we believe we have followed applicable procedures and laws associated with her account. HomeStreet paid the borrowers county property taxes from her escrow account on 11/06/2015. On... 11/25/15 HomeStreet was notified by the borrower that she had applied for a Senior Deferral Program in Oregon. That same day we contacted the county and verified, via the county website, the Senior Deferral was in place and initiated the process of requesting a refund from Marion County. Marion County requires a request form be filled out and filed prior to any refund. While the borrower received a notification letter in June 2015 from the Oregon Department of Revenue, showing her approval of for the Oregon Senior Citizen Deferral program, HomeStreet did not receive that notification. On 12/01/15 we completed the form and mailed it to Marion County. On 12/16/2015 the borrower sent in a written request to delete the property tax escrow account on her loan. A written request from the borrower is required to remove the tax collection. On 12/24/2015 the refund of taxes paid from the borrowers escrow account on 11/06/2015 was received from Marion County and deposited to the borrowers escrow account, and a refund to the borrower processed. The refund check to the borrower was sent overnight via Federal Express. At that time we reanalyzed the escrow account with the new payment effective February 2016. Because the refund was not received until the end of December the payments changed effective February. This is due to RESPA requiring a 45 day notice for payment changes. In response to the borrower request to delete the hazard insurance we are required to follow the investor guidelines. Based upon these guidelines a credit check is required as well as copies of bank statements. A letter has been sent to the borrower outlining this requirement as well as a full accounting of all monies collected and disbursed from October 2014 through February 2016.

Complaint: [redacted] I am rejecting this response because: HomeStreet Bank's statement that they were notified on 11/25/is incorrectA copy of the Senior Deferral letter was faxed from the HomeStreet Bank office on Commercial Ave in Salem OR in June A hard copy was mailedA follcall several days later verified that HomeStreet Bank had received the deferral letter from the Oregon Dept of RevenueI have no knowledge why HomeStreet Bank did not process the letter at that time; did they lose it? Was the employee responsible for processing on vacation, quit or terminated? UnknownWas I required to perform additional steps to ensure that HomeStreet Bank does their job? I called several times over the next several months and was given information regarding the refundWhy was I not told at those times that HomeStreet had not received the deferral letter if it was not on file? Yes, I received a refund on 12/30/15, but I received no accounting of the money refundedBy my calculation, it was not the entire amount of the property tax money paid into the escrow account HomeStreet Bank continued to collect property taxes on this account, and I have received no information regarding refund of these additional fundsI did receive an email from Julie Olson on 2/29/stating that she would call me on 3/1/with figures and that a check could be mailed via Federal ExpressTo date, I have not heard from herI have yet to receive anything in the mail The fact remains that HomeStreet Bank continued to collect property taxes after being notified that their responsibility for so doing had ceased from July through November They continued to require property taxes on the account for December and January 2016, which I refused to paySince that time, my account has shown that it is past due and HomeStreet Bank has refused to adjust the account to reflect the cessation of property tax collectionI am requesting assistance in forcing HomeStreet Bank to adjust the December and January payments to accurately reflect what is legally due and return my account to a "current" status and not "past due." HomeStreet Bank's response did not address the matter in #above Thank you Sincerely, [redacted] ***

Due to misinformation, HomeStreet Bank was billed for an incorrect property parcel in place of the borrower’s propertyUpon learning of the mistake, HomeStreet Bank ensured the funds were transferred to the correct parcel and paid any fees assessed to the borrower’s account by the countyWe have
reached out to the borrower and explained the events as they had occurred

Complaint: ***I am rejecting this response because:
The events did not occur as simply Homestreet outlines. After I filed the complaint, I had a conversation with Margaret H*** from Homestreet Bank for over minutes reviewing the details and timeline of the issue. Absolutely nothing was done to address any of the specific issues I raised on that call Once again, Homestreet demonstrates their lack of customer service. For a customer with a mortgage generating over $1500/month in interest to the bank, it is disappointing to see the failure to outline the bank's actions and the subsequent impact on me as a customer (increase of $600/month in escrow payments). As a result of their repeated failure to adequately manage the escrow account, we have subsequently moved our business to another local bank.
Sincerely,*** ***

In response to Ms***’s specific points:
#1: We have researched our records back to April and HomeStreet Bank has no record of receiving any documentation via fax, or USPS as noted by the customerOur records note two calls received from the borrower but neither is pertaining to the Senior Deferral. Any explanation as to why we did not receive this documentation would be speculation
#& #3: The refund Ms*** received in December represents the overage in the escrow account based upon the Annual Escrow Analysis at that time. It is not an exact refund of the tax refund as hazard insurance is still due. The Annual Escrow Disclosure statement and an accounting of escrow disbursements and deposits were sent to Ms*** via Federal Express, (tracking number available upon request) on 12/29/2015. We will re-order a copy of the overage check and analysis and provide this to the borrower within days
#4: Per regulatory guidelines, HomeStreet Bank produces an Annual Escrow analysis each December for the State of Oregon. HomeStreet Bank would not be able to remove the collection of escrow until it was validated from the county that no tax payment was due, which happened in November 2015. The annual escrow analysis was then completed in December 2015, which determined the new payment, with an effective date of February because, per RESPA guidelines, we are required to provide a day notice of any payment change, either an increase or decrease
Because of the 45-day RESPA guideline, Ms***’s December and January payments remained the same as previous months. Funds received from the borrower on 01/05/were not sufficient to satisfy the December and January payments. Instead, the funds satisfied the December payment with a balance remaining due for January 2016. On 02/05/additional funds were received, and satisfied the remaining due for January 2016. The new payment amount was not in effect until February 2016. The account currently has an amount due for the March payment

In response to Ms***’s specific points:
#1: We have researched our records back to April and HomeStreet Bank has no record of receiving any documentation via fax, or USPS as noted by the customerOur records note two calls received from the borrower but neither is pertaining to the Senior Deferral. Any explanation as to why we did not receive this documentation would be speculation
#& #3: The refund Ms*** received in December represents the overage in the escrow account based upon the Annual Escrow Analysis at that time. It is not an exact refund of the tax refund as hazard insurance is still due. The Annual Escrow Disclosure statement and an accounting of escrow disbursements and deposits were sent to Ms*** via Federal Express, (tracking number available upon request) on 12/29/2015. We will re-order a copy of the overage check and analysis and provide this to the borrower within days
#4: Per regulatory guidelines, HomeStreet Bank produces an Annual Escrow analysis each December for the State of Oregon. HomeStreet Bank would not be able to remove the collection of escrow until it was validated from the county that no tax payment was due, which happened in November 2015. The annual escrow analysis was then completed in December 2015, which determined the new payment, with an effective date of February because, per RESPA guidelines, we are required to provide a day notice of any payment change, either an increase or decrease
Because of the 45-day RESPA guideline, Ms***’s December and January payments remained the same as previous months. Funds received from the borrower on 01/05/were not sufficient to satisfy the December and January payments. Instead, the funds satisfied the December payment with a balance remaining due for January 2016. On 02/05/additional funds were received, and satisfied the remaining due for January 2016. The new payment amount was not in effect until February 2016. The account currently has an amount due for the March payment

Complaint: ***I am rejecting this response because:
HomeStreet Bank's statement that they were notified on 11/25/is incorrectA copy of the Senior Deferral letter was faxed from the HomeStreet Bank office on Commercial Ave in Salem OR in June A hard copy was mailedA follcall several days later verified that HomeStreet Bank had received the deferral letter from the Oregon Dept of RevenueI have no knowledge why HomeStreet Bank did not process the letter at that time; did they lose it? Was the employee responsible for processing on vacation, quit? or terminated? UnknownWas I required to perform additional steps to ensure that HomeStreet Bank does their job? I called several times over the next several months and was given information regarding the refundWhy was I not told at those times that HomeStreet had not received the deferral letter if it was not on file?
Yes, I received a refund on 12/30/15, but I received no accounting of the money refundedBy my calculation, it was not the entire amount of the property tax money paid into the escrow account
HomeStreet Bank continued to collect property taxes on this account, and I have received no information regarding refund of these additional fundsI did receive an email from Julie Olson on 2/29/stating that she would call me on 3/1/with figures and that a check could be mailed via Federal ExpressTo date, I have not heard from herI have yet to receive anything in the mail
The fact remains that HomeStreet Bank continued to collect property taxes after being notified that their responsibility for so doing had ceased from July through November They continued to require property taxes on the account for December and January 2016, which I refused to paySince that time, my account has shown that it is past due and HomeStreet Bank has refused to adjust the account to reflect the cessation of property tax collectionI am requesting assistance in forcing HomeStreet Bank to adjust the December and January payments to accurately reflect what is legally due and return my account to a "current" status and not "past due."
HomeStreet Bank's response did not address the matter in #above
Thank you
Sincerely,*** ***

While we understand the borrower is frustrated with the process of escrow payment and refund on her loan, we believe we have followed applicable procedures and laws associated with her account
HomeStreet paid the borrowers county property taxes from her escrow account on 11/06/
On
11/25/HomeStreet was notified by the borrower that she had applied for a Senior Deferral Program in Oregon.? That same day we contacted the county and verified, via the county website, the Senior Deferral was in place and initiated the process of requesting a refund from Marion County.? Marion County requires a request form be filled out and filed prior to any refund.? While the borrower received a notification letter in June from the Oregon Department of Revenue, showing her approval of for the Oregon Senior Citizen Deferral program, HomeStreet did not receive that notification
On 12/01/we completed the form and mailed it to Marion County.?
On 12/16/the borrower sent in a written request to delete the property tax escrow account on her loanA written request from the borrower is required to remove the tax collection
On 12/24/the refund of taxes paid from the borrowers escrow account on 11/06/was received from Marion County and deposited to the borrowers escrow account, and a refund to the borrower processed.? The refund check to the borrower was sent overnight via Federal Express.? At that time we reanalyzed the escrow account with the new payment effective February 2016.? Because the refund was not received until the end of December the payments changed effective FebruaryThis is due to RESPA requiring a day notice for payment changes.?
In response to the borrower request to delete the hazard insurance we are required to follow the investor guidelinesBased upon these guidelines a credit check is required as well as copies of bank statementsA letter has been sent to the borrower outlining this requirement as well as a full accounting of all monies collected and disbursed from October through February

Complaint: ***I am rejecting this response because:
?
The events did not occur as simply Homestreet outlines.? After I filed the complaint, I had a conversation with Margaret H*** from Homestreet Bank for over minutes reviewing the details and timeline of the issue.? Absolutely nothing was done to address any of the specific issues I raised on that call? Once again, Homestreet demonstrates their lack of customer service.? For a customer with a mortgage generating over $1500/month in interest to the bank, it is disappointing to see the failure to outline the bank's actions and the subsequent impact on me as a customer (increase of $600/month in escrow payments).? As a result of their repeated failure to adequately manage the escrow account, we have subsequently moved our business to another local bank.?
Sincerely,*** ***

Due to misinformation, HomeStreet Bank was billed for an incorrect property parcel in place of the borrower’s property. Upon learning of the mistake, HomeStreet Bank ensured the funds were transferred to the correct parcel and paid any fees assessed to the borrower’s account by the county. We have...

reached out to the borrower and explained the events as they had occurred.

Complaint: [redacted]I am rejecting this response because:
1. HomeStreet Bank's statement that they were notified on 11/25/15 is incorrect. A copy of the Senior Deferral letter was faxed from the HomeStreet Bank office on Commercial Ave in Salem OR in June 2015. A hard copy was mailed. A follow-up call several days later verified that HomeStreet Bank had received the deferral letter from the Oregon Dept of Revenue. I have no knowledge why HomeStreet Bank did not process the letter at that time; did they lose it? Was the employee responsible for processing on vacation, quit or terminated? Unknown. Was I required to perform additional steps to ensure that HomeStreet Bank does their job? I called several times over the next several months and was given information regarding the refund. Why was I not told at those times that HomeStreet had not received the deferral letter if it was not on file?
2. Yes, I received a refund on 12/30/15, but I received no accounting of the money refunded. By my calculation, it was not the entire amount of the property tax money paid into the escrow account.
3. HomeStreet Bank continued to collect property taxes on this account, and I have received no information regarding refund of these additional funds. I did receive an email from Julie Olson on 2/29/16 stating that she would call me on 3/1/16 with figures and that a check could be mailed via Federal Express. To date, I have not heard from her. I have yet to receive anything in the mail.
4. The fact remains that HomeStreet Bank continued to collect property taxes after being notified that their responsibility for so doing had ceased from July 2016 through November 2016. They continued to require property taxes on the account for December 2015 and January 2016, which I refused to pay. Since that time, my account has shown that it is past due and HomeStreet Bank has refused to adjust the account to reflect the cessation of property tax collection. I am requesting assistance in forcing HomeStreet Bank to adjust the December and January payments to accurately reflect what is legally due and return my account to a "current" status and not "past due."
5. HomeStreet Bank's response did not address the matter in #4 above.
Thank you.
Sincerely,[redacted]

While we understand the borrower is frustrated with the process of escrow payment and refund on her loan, we believe we have followed applicable procedures and laws associated with her account.
HomeStreet paid the borrowers county property taxes from her escrow account on 11/06/2015.
On...

11/25/15 HomeStreet was notified by the borrower that she had applied for a Senior Deferral Program in Oregon.  That same day we contacted the county and verified, via the county website, the Senior Deferral was in place and initiated the process of requesting a refund from Marion County.  Marion County requires a request form be filled out and filed prior to any refund.  While the borrower received a notification letter in June 2015 from the Oregon Department of Revenue, showing her approval of for the Oregon Senior Citizen Deferral program, HomeStreet did not receive that notification.
On 12/01/15 we completed the form and mailed it to Marion County. 
On 12/16/2015 the borrower sent in a written request to delete the property tax escrow account on her loan. A written request from the borrower is required to remove the tax collection.
On 12/24/2015 the refund of taxes paid from the borrowers escrow account on 11/06/2015 was received from Marion County and deposited to the borrowers escrow account, and a refund to the borrower processed.  The refund check to the borrower was sent overnight via Federal Express.  At that time we reanalyzed the escrow account with the new payment effective February 2016.  Because the refund was not received until the end of December the payments changed effective February. This is due to RESPA requiring a 45 day notice for payment changes. 
In response to the borrower request to delete the hazard insurance we are required to follow the investor guidelines. Based upon these guidelines a credit check is required as well as copies of bank statements. A letter has been sent to the borrower outlining this requirement as well as a full accounting of all monies collected and disbursed from October 2014 through February 2016.