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Nationstar Mortgage / forcing escrow account for taxes and insurance, then not paying

United States Review updated:

When Nationstar purchased our mortgage from Bank of America, they forced an escrow account for taxes and insurance then have not paid in for the year. This company has been relentlessly sending me notices to refinance - 2 to 3 per month. Their customer service is very poor. I can't wait to refinance with a new lender company.

Re
Sep 05, 2015
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  • Ba
      May 29, 2016

    In January 2015 my loan was sold by Chase to Nationstar with the terms of the mortgage agreement exactly as at the origination date. However, within 4 months a supposed return of a homeowner's payment to Universal Property made me a bad credit risk to Nationstar. They proceeded to force an escrow account in addition to original amount resulting in me having to pay them an additional $160 per month. Their action was predicated on the information supplied by Universal but electronic funds transfers cannot be returned. Also, my insurance agent would not intercede on my behalf because a new policy was issued decreasing the insured value of my house. Because all three companies participated in the fraud, they are all guilty of conspiracy. Nationstar did not stop at bilking me out of $2, 210 in escrow but only paid last year's homeowners insurance and did not pay property taxes because I had paid them. This year I received a bill for homeowners insurance and a delinquency notice for taxes. The scam is to set up to open an escrow account, let the homeowner overpay for a year and not pay insurance and taxes the next year.. Then send a letter indicating the escrow payment is adjusted which has no basis in reality. Nationstar just might be the biggest thief of mortgage lenders.

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