New mortgage company raised my payment amount!?!

[Wayne Bodley]

Hi all, recently several of my mortgages were purchased by Freedom Mortgage. I realized today that somehow the payment amount on at least one of them was increased by about $50, creating a late payment fee. I'm in the proceas of discovering why right now and was wondering if anyone has ever encountered this problem. I'm considering refinancing all the loans to get away from this company based in some terrible reviews.

[Brie Schmidt]

Originally posted by @Wayne Bodley:

Hi all, recently several of my mortgages were purchased by Freedom Mortgage. I realized today that somehow the payment amount on at least one of them was increased by about $50, creating a late payment fee. I'm in the proceas of discovering why right now and was wondering if anyone has ever encountered this problem. I'm considering refinancing all the loans to get away from this company based in some terrible reviews.

 If they bought the loan it would be the same principle and interest amount.  They probably predicted an escrow shortage and increased your payment to cover that.  You should have been notified of the escrow increase