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Mortgage Company Messed Up My Statement - Now What?
Just noticed some weird charges on my latest mortgage statement... figures don't add up, and I'm pretty sure they've made a mistake somewhere. Anyone dealt with this kinda thing before? How'd you handle it?
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Compare the payment history, transaction and effective dates, and running balance against the servicer’s written explanation. If escrow is involved, compare that with the escrow analysis as well.
A payment can be credited to the account but allocated incorrectly among principal, interest, fees, and escrow. Keep the statements and correspondence together so discrepancies are easier to document. For a U.S. mortgage, if the records still do not reconcile, consider sending a written notice of error or qualified written request to the servicer’s designated address on the statement rather than relying only on a phone call.
If a written notice doesn’t resolve the issue, a U.S. borrower can submit a complaint to the Consumer Financial Protection Bureau (CFPB), including the notice, any servicer response, and relevant account records. The CFPB sends the complaint to the company for a response, giving the borrower another review channel, though it doesn’t guarantee the company will correct the error.