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Letter to the Office Comptroller about increase on our mortgage payment due to insurance. Do we need a Escrow account when we have equity? Why?
Dear:
Office of the Comptroller of the Currency within the United States Department of the Treasury.
For your information, I have an account with:
Loan Details
AC... 3641 - 135 HARVARD DR
The following is not happening:
At the end of each year, your lender reviews your escrow account to provide you with a disclosure statement. On the statement all the activities of the account are listed to reach a final balance. Additionally, the statement details what your payments for the following year will be.
651.035(1).
(e) At the request of either the provider or the office, the escrow agent shall issue a statement indicating the status of the escrow account.
This house was purchased in November 1999. We had the same financial institute at all times. A loan modification was done in 2013.
No late payment for the last 10 years. We have equity of $400K – We owe 165K and this house is worth $599K.
My lender refused to comply with my solicitation.
I have requested the following:
To have the escrow account removed.
My reasons: Due to our impeccable credit (jack and I), and the fact that this type of loan is qualified to remove the escrow account, I want in writing the reason why my account is not qualified. I also ask for what part of my contract states that the escrow account cannot be removed.
Detailed information on my escrow account since 2013 – when it was modified until today.
An explanation why your year starts in March when my account started with you in November.
I am bringing this matter to the Office of the Comptroller of the Currency within the United States Department of the Treasury.
As we speak today – February 21st of 2023 I have $2,371 balance on my escrow account. See below picture:
By august 17th 2023 When my insurance is due, I will have added to my escrow account $594.56 X 6 months = 3,567.36.
My credit on that account is $ 2,371.18. therefore, by August 17th, 2023, my credit will be $ 5,938.54. My last insurance was: $5,546.00
After paying the insurance company my escrow account will have $392.54 in credit.
Then only after 3 months my taxes will occur, which is in November 2023. I will have credit on the account of $1,783,68 (which of, will be by paying 3 months for the escrow account, or 3 times $594.56.
Adding to the $392.00. I will have only $2, 175 .68 towards my taxes. I know where I am, and I will be up to date. No need to increase the escrow account to $145 per month. It means they are going to gamble with my money until next August. There will be a surplus in the current year.
Every March my monthly bill has increased – and mostly to go towards the escrow. The bank doesn’t show any statement, and simply wants to have more money in the end of the year.
Do they claim tack as if the year ended in March or December 31st?
May lender alleged the following:
They do not have to send statements from escrow accounts.
They decide what my monthly payment will be. Under written lines no one can have access to.
They always have a suporlus by December 31st. Yet they start the month in March.
I request from the Comptroller of currency to do an audit on CU mortgage members services to see if the are acting in accordance with The 2022 Florida Statutes (including Special Session A) - 651.033 Escrow accounts.—
(1) When funds are required to be deposited in an escrow account pursuant to s. 651.0215, s. 651.022, s. 651.023, s. 651.0246, s. 651.035, or s. 651.055:
Please advise me what can be done to audit this lender for undiscriminating raises without placing one extra dollar on my principal. Why they do not pay LOAN NUMBER with Colonial:
It was: 
Please advise where I can take my claim and complaint about abuse of escrow accounts.
interest in this escrow savings account?
Milton L. Araujo.
135 Harvard Dr.
Lake Worth FL – 33460
PS. I intend to retain a counselor to see if there is a written law where you can start your year 3 months after - or before my highest insurance is due.
Milton
