Why did my escrow analysis take 5 months to get sorted out?

I bought a house in Austin back in March and my lender said the escrow account would be adjusted after closing. They kept sending me letters saying it was being reviewed, but I'd call and get transferred around for weeks. It actually took until August for them to fix a $900 shortage that was calculated wrong from the start. Has anyone else waited way longer than expected for an escrow correction?

3 comments

3 Comments

casey_harris2mo ago

Had a buddy in San Antonio deal with the same garbage on his first house. His lender sat on a $1,200 escrow error for 5 months too until he filed a CFPB complaint, then they fixed it in like 10 days. The whole system is just broken unless you force them to actually read your file.

gavin_kelly912mo ago

Did you try sending them a strongly worded email while standing on one leg? That's usually the secret handshake to get them moving.

gavinlopez2mo ago

The secret handshake part is funny but honestly not far off. I had a similar mess with my escrow after buying last year and what finally got them to move was filing a complaint with the CFPB online. Took me maybe 20 minutes to fill out the form and suddenly the lender had a dedicated person calling me back within a week. They had been sitting on my escrow review for four months before that, sending the same form letters every few weeks. The shortage was also calculated wrong from the start because they used a tax estimate from the previous owner who had a homestead exemption I didn't qualify for. So yeah, send the strongly worded email but also file the complaint, that's the real secret handshake.

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