Justin in Ohio said: ” Our home loan was serviced by Amtrust, then taken over by Saxon. Because valuations of our property have decreased significantly, our property taxes also went down. However, Amtrust paid the incorrect amount of property tax in January 2010.
We sent all the proper documentation showing too much was being paid and verified with Amtrust, that we could handle our own escrow from that point forward. Then Saxon took over, they magically had no record of anything and demanded a $1500+ payment to make the account current (3 months of escrow and late fees!!!). I found 2 errors in the account, the first was a completely made up late charge of over $100. Because our payment had always been automatically withdrawn from my bank account, I knew this was impossible.
I spoke to 2 different representatives about this and it wasn’t until I threatened suit or an investigation that they bothered to look it up. After their research, they removed the late charges. It turns out the previous payments weren’t applied correctly, they held the monthly payments as incomplete and then took the amount the following month and applied one full payment, added late fees and applied the funds as they felt, not as agreed upon.
I sent the payment and the customer service person from Saxon said we could get it corrected once the payment was made. They gave me a fax # to send for the escrow department. I have a ufax account and the fax wouldn’t go through. I then went to a friends business and the fax still wouldn’t be received. I called and asked for the fax # again and was given the same fax #, but again it didn’t work.
This company has been horrible the short time we’ve been associated with them. We’ve lived in our house for 5 years and the mortgage has always been automatically deducted from our account, 0 late payments in 5 years. But now the transition from Amtrust to Saxon has caused many hours on the phone, money in late fees undeserved and still no resolution to our escrow account. Our monthly payment should either be adjusted down in accordance with the new tax value or let us handle the escrow as Amtrust had agreed, either one would be acceptable, but not just ignoring and bullying as they’re doing.
I have no problem joining in a suit against this company, we have several rental properties and have had more problems in a few months with them than all our others combined over the last 10 years.”