M&T Bank MESSED up our escrow account!

We purchased our house in August of 2012. In Jan. 2013, our then servicer paid the property taxes. It was a significantly small amount due to the fact that we hadn't owned the house but for four months. In March of 2013, the then servicer did an escrow analysis, which was correct for the NEW tax amount for 2014. The then servicer sold our loan in June 2013 to M&T Bank. In August of 2013, M&T Bank issued us a refund because they said our escrow account had too much money in it. In Dec. M&T Bank paid our property taxes which were much, much more than the first tax payment because it was for a full year. In Feb. 2014, M&T said we have a shortage of a significant amount and that now our mortgage is going to be $350 more a month for 12 months! How is this fair when our previous servicer clearly had the correct amount for our 2014 property taxes in their analysis that they were supposed to send to M&T? When I called M&T, they said it was increased because the taxes were increased, but the taxes didn't increase from the time we received the letter from our former servicer until the time M&T did their analysis. Any guidance would be greatly appreciated. by ljjlyons815 from Olive Branch, Mississippi. Feb 25th 2014 Reply