Used ICCU for my home loan, initial process went well and the person I worked with was on it every step of the way. Fast forward one year, I get my first annual escrow account disclosure agreement in the mail. Its impossible to follow their numbers and cryptic wording at best, but I find the line that states (and I'm copying word-for-word here)
"this means you have a shortage of 268.48. this shortage may be collected from you over a period of 12 months unless the shortage is less than 1 month's deposit, in which case we have the additional option of requesting payment within 30 days. We have decided to collect it over 12 months".
No biggie, I have owned 3 homes prior to this and this just means city/county taxes have gone up and my initial escrow doesn't cover it any more. I decide to make the payment directly to the bank, separately from my normal monthly payment (which shouldn't change since I'm making payment for the shortage in the escrow account), to take care of the shortage.
The next month I receive a call stating that I haven't made my payment and they want to know why! I have to jump through hoops for them to find out where my auto payment (from my other bank) went. Two days later they realize that my payment was short and was put on hold for no reason. After lots of arguing with several people, they conclude that the payment I made only covered the previous year's shortage and not the following year's new amount! Well, state that on your letter in clear wording and I would have paid that amount!
No problem, its all cleared up, and I'm assured this won't happen again. Yeah right.
Its now the 2nd year, taxes for my county were raised for school funding and a new library, I get my letter stating that escrow is once again short, but its been a year and I've forgotten about the stupidity I dealt with. Again, not wanting my monthly payments to go up, I go through their cryptic letter, and determine that I'm short 257.66 this year. I make the payment, and again I'm met with a phone call from ICCU about non-payment of my loan a month later.
I explain to the guy that this has happened last year, and I'm getting tired of this. He tells me its my job to find where my payment is, and I promptly tell him if he wants the payment, he needs to get off his a ss and find it, as my bank account clearly shows it was made, giving him the confirmation number from my bank. Next day he apologizes, says he doesn't know why it happened but payment was in-limbo and not posted any where. I now have to do his job and explain to him what happened last year, he's apologetic about it, but explains that the amount I paid to escrow, again, doesn't cover the amount for this year. At this point, I'm hot under the collar, and I make him pull a copy of the letter that was sent to me, and ask him to find the amount printed on that paper which agrees with the new number he's telling me over the phone! He says it isn't stated on the letter and he'll send this info to the correct department to make these changes, he also says if I don't mind, he wants to transfer me to another department so I can explain this to them so they understand why the letter is an issue. Fine, I'll do that for you.
On comes a new guy, and this guy seems to have a full-on attitude, and has the audacity to tell me that "since this happened last year, you should have known better than to send a payment in"!
I explained to him that its obvious you are not interested in fixing the issues on your end, but just putting the blame on someone else, and I will not do business with a company who can't even write a simple letter that states 4 things:
Original escrow payment: $xx.xx
New escrow payment: $xx.xx
Amount short from last year: $xx.xx
New amount needed to keep payments the same:$xx.xx
He laughs and says that "you do what you feel you need to do", so I did! Just closed with my other bank with a lower rate and no points, as well as waived fees. ICCU is done for me, and I'll make sure to let as many people know exactly how I was treated while trying to give them money up front!
They would probably still have my accounts with them, as well as my mortgage, had they not acted foolishly.