Date Received: 2017-02-02
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I have been though the process of a few mortgages in my life ... I have a general idea of how things go. The experience we went though with 5/3 Bank this past XXXX XXXX was horrendous. I ca n't begin to tell you all the issues and disappointment we encountered. But what I want to focus on is something that I do n't think is ethical. It pertains around the PMI disclosure of this particular loan and how I was basically put up against a wall to either proceed with a closing with this high PMI or lose our condo. This past XXXX XXXX my wife and I decided to buy a second condo. Our plans were to move into this condo and rent out the one we were currently living in at the time. We went over our finances and budgeted around {$2000.00} per month for an extra mortgage. I contacted 5/3 Bank since that 's where our current mortgage was, as well as checking, savings, investment account and a prior car loan. We were connected with XXXX XXXX to help us with our mortgage. I was very specific and detailed with XXXX about the property we knew we wanted to buy, the funds we had for a down payment as well as what we needed the mortgage to be each month. I was told by XXXX that based on the amount I had for a down payment there would likely be PMI involved, but he was not sure of the amount at the time. When I asked him around how much he said " not bad. '' I never had to have PMI on any of my previous mortgages. I figured that if condo insurance was any indicative estimate of what personal mortgage insurance could be ( since our condo insurance was fairly inexpensive ) ... maybe the PMI would be around {$100.00} or so a month. I NEVER signed or saw anything about the PMI. It was not even brought up again at all. My wife or I never received anything that showed wha the PMI would be until 72 hours before the closing. Our closing was delayed twice. Both issues were due to the appraisal on 5/3 's part.The sellers were very frustrated because the sale of this home was tied to the purchase of another. They threatened to go with another buyer. Our actual closing was finally set for XXXX XXXX, XXXX. On the night of XXXX XXXX XXXX had us meet him at the 5/3 Building in downtown XXXX to sign some amended paperwork for the new closing. My wife and I are reviewing the documents and see our monty payment is {$2500.00} including {$440.00} of PMI. We were so taken back. Over {$500.00} dollars of what we budgeted for a month and completely not what we were expecting. We told XXXX we had a {$2000.00} budget and that 's all we could do. We were now in a position - our closing was already delayed. Sellers are frustrated and already made threats ... If we decided to raise an issue about the PMI we 'd definitely delay our closing again and risk losing the condo. XXXX told us not to worry we could do an equity line or pay the funds down to remove the PMI. We signed. Proceeded. An equity line was not going to happen. We just did n't have the credit to do it and there was no option we could figure out with the multiple 5/3 people we spoke with how we can eliminate this ridiculously high monthly PMI fee we did n't plan for. {$5300.00} a year go PMI was a hard pill to swallow. Months passed and after much though we wound up moving a lot of our rainy day funds around to eliminate the PMI. It was just officially removed this past XXXX XXXX. What I am specially asking for is - I want all the PMI I had to pay back. I want 5/3 to eat those funds. I am pretty sure i should have signed something more than 72 hours before the closing showing me what that PMI was going to be - and that never happened. I would love to see some documentation from that showing otherwise. They put me in a bad position where i pretty much had to suck it up and pay for their mistake or lose the condo. The total I paid 5/3 for PMI was {$2500.00}. I want it all back.
Company Response:
State: TN
Zip: 372XX
Submitted Via: Web
Date Sent: 2017-02-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2017-01-27
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: Fifth-Third bank had sent me a letter ( attached ) demanding that l sent to them the sum of {$1800.00} to update my loan file and bring it current by XX/XX/2017. l complied with the request, sending in {$1900.00} not minding that the company has no basis for their demand because l have series of payments in the amounts of {$430.00} ( usual mortgage payment for {$420.00} PI and additional {$9.00} for principal reduction ) and {$500.00} ( escrow ) sitting unapplied on my accounts. WhatThis check was returned to me with letter ( attached ) saying that it was not enough to off my loan. had happened was l was late on my taxes and the bank paid it but when l started getting more than double the amount of my mortgage because of this escrow gauge, l had called and spoke to one of the reps who told me if l wanted to pay off the escrow, all l needed was to bring in about {$3400.00} once. Also when l got this letter l had called the number given to me on the letter over and over and could not get connected. l made frantic efforts to reach the customer service number XXXX, up to 4-5 times, none of the people l talked to could help me either. Sometimes, the machine will attempt to connect me to the right department but it did always end up cutting off ( dropping ). Frustrated, l took my case to the branch where XXXX ( XXXX ) told me the escrow balance was {$2400.00} and I gave him the check right there to pay it and advice the right department to apply it to liquidate my escrow. This is in addition
Company Response:
State: FL
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-02-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2017-01-27
Issue: Cont'd attempts collect debt not owed
Subissue: Debt was paid
Consumer Complaint: I had a small credit card account with 5th third bank that I rarely used and had a XXXX balance on. At some point they charged me an inactivity fee but NEVER sent me a statement via Email ( how my account was set up or us mail ) Causing me to go 30 days delinquent I caught this because I got turned down for credit and I got a copy of my credit report. I called 5th 3rd and sure enough they told me abut the issue. I Arged with them and they reversed all fees Late and inactive and closed the account for me. I asked if I was goinng to still be considered 30 days late ... They said no so I waited and ordered another credit report to find they still had me reported as 30 days late. I disputed the report and they responded that the reporting was accurate. I am attaching a statement to show they reversed the fees. I want my credit report restored to a never late on this account and I think 5/3rd should pay me {$200.00} for my time and inconvenience in fixing this
Company Response:
State: PA
Zip: 151XX
Submitted Via: Web
Date Sent: 2017-02-16
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-27
Issue: Identity theft / Fraud / Embezzlement
Subissue:
Consumer Complaint: Fraudulent charges were charged to my credit card in the amount of {$3100.00}. I have a Fifth Third Bank/ XXXX credit card.
Company Response:
State: MI
Zip: 48220
Submitted Via: Web
Date Sent: 2017-01-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-27
Issue: Cont'd attempts collect debt not owed
Subissue: Debt was paid
Consumer Complaint: The collection agency refuses to provide me any information on why they are contacting me. The rep did say it was related to my XXXX XXXX. XX/XX/XXXX, I contacted 5th/3rd bank and asked for a payout amount on my car loan. I issued them a check for that amount. Over 2 years later, they contacted me stating I owe an additional amount. I have made it very clear, I believe the loan has been paid in full and need an explanation of why they did n't contact me for 2 years and why they believe there is still a balance. They refuse to provide me any information.
Company Response:
State: MI
Zip: 481XX
Submitted Via: Web
Date Sent: 2017-01-27
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-26
Issue: Settlement process and costs
Subissue:
Consumer Complaint: I did not want to sign up for the billpayer program ( auto transfers payments from checking ). The banker said that was fine. Billpayer transferred from my account anyway. I called customer service and asked them to provide me proof I authorized that. They said the form was archived since it was done 3 months ago and they could not prove it. They transferred money from my checking without authorization OR someone forged my signature.
Company Response:
State: IN
Zip: 46112
Submitted Via: Web
Date Sent: 2017-01-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-25
Issue: Account opening, closing, or management
Subissue:
Consumer Complaint: On XX/XX/2017 I received a notice from FIFTH THIRD BANK of an account overdraft. I was quite surprised because to the best of my knowledge all of the accounts I had at one time there had been closed and I have not received any communication ( either electronic, phone or post ) from them in the intervening YEARS until this notice. I went into the bank to discover that there were XXXX accounts ; XXXX checking for my then minor daughter who is now XXXX years old and XXXX savings account for her. When I sought to close the accounts I was told I had to make a deposit to each account to reactivate them before I closed them, and then come back. I did that. When I returned I discovered that the bank had been debiting XXXX accounts $ XXXX/month for at least two years -- maybe more, they would n't show me the records and I have no records of my own since I had closed the accounts ( or so I thought ). I asked for a refund of all the fees since I was never informed that ( 1 ) I still had XXXX accounts open ( 2 ) they were being charged monthly -- which would substantiate the fact that I did n't know they were still considered " open ''. The bank manager wrote his regional supervisor who approved refunding only $ XXXX/account, and yet I know that the accounts were charged in excess of $ XXXX/each, I do n't know the exact amount because I do n't know at what point they deemed them dormant and started charging the accounts. The savings account was my daughter 's birthday money, I thought at the time she could save it and perhaps make a little interest, as I did as a child. It never occurred to me that they could take her money away bit by bit. As it stands, I have no clear idea how much money was in the accounts before, and therefore I have no idea how much they actually owe my daughter/me beyond the remaining {$460.00} in the savings, they cleaned out the $ XXXX+ that was in the checking which is what triggered the overdraft letter.
Company Response:
State: IL
Zip: 60630
Submitted Via: Web
Date Sent: 2017-01-25
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-25
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I believe Fifth Third Bank if overcharging me I can never get a straight answer from them. They charge me charges on top of charges They promise I am current, Then the next moth send me bills with fees and other charges.
Company Response:
State: FL
Zip: 33445
Submitted Via: Web
Date Sent: 2017-01-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-25
Issue: Deposits and withdrawals
Subissue:
Consumer Complaint: I deposited XXXX checks via the mobile deposit app on my phone on XX/XX/2017 at about XXXX in the evening. After the first deposit XXXX was made available immediately. After the second deposit no money was made available. On XX/XX/2017 I checked my account and noticed a hold was placed on XXXX. I called the bank at about XXXX to inquire about the hold and to verify if this hold would delay my deposits clearing. The first person I spoke with provided information I did n't ask for and then advised a bank teller placed the hold on my account and he could not explain why and I needed to wait until the branch opened to get an answer. I asked for a supervisor. The supervisor advised the deposit department placed the hold and I would need to speak with someone from that department. I was transferred. The first person I spoke with in the deposit department again provided information I did not ask for and was irrelevant to my inquiry, when I pressed for an answer about the hold and how it would effect my deposits I was advised she could not explain the hold and I would need to wait until the morning to find out what would happen. She became rude when I asked for a supervisor. I spoke with a supervisor in the deposit department who again advised no one could help, no information could be provided and that notes on the account can not be seen until the transaction either clears/or does n't. I called customer service and immediately asked for a supervisor so that I could file a complaint. The supervisor in customer service insisted she could help, again I was told no notes where available to explain the decision and they could not provide any answers until my deposit either cleared or did n't clear in the morning. I asked to speak with her supervisor and she hung up on me. I called back and the customer service rep who knew my name insisted he could not transfer me until I gave him my name, he was antagonizing. I finally spoke with a supervisor who again stated nothing could be done, no answers could be provided and I would just have to wait until the morning to " see what would happen ''. I spoke with XXXX different people, none of them could explain why the hold was placed, or how the hold would effect my deposits clearing. I checked my account this morning and the deposits were debited and my account is negative over XXXX. I still have no answers explaining why any of this happened and now I have a negative balance on my account I did not create. If there were questions regarding the deposit, I did not receive a phone call so that I could at least attempt to answer any questions the bank may have had. I did not receive an e-mail either. It would have been helpful if at a minimum notes were entered explaining why the hold was placed and whether or not my deposits would have been effected. I was constantly advised that " this is just the process '', that is antiquated and unhelpful. Customers want to be informed and understand why something was done to their account.
Company Response:
State: NC
Zip: 28262
Submitted Via: Web
Date Sent: 2017-01-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2017-01-24
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: My mortgage company is returning my payments and did not credit a payment made in XXXX 2016, I had tried to refinance from a HAMP loan to a HARP loan and found a credit card judgement set against me and a lien placed on my home. The credit card debt is n't even mine. I am now in default on my mortgage because they are returning my payments and are accessing late fees, they want all payments up to date plus late fees. First, I thought it was illegal to place a credit card lien on a HAMP loan, is that true?
Company Response:
State: OH
Zip: 45385
Submitted Via: Web
Date Sent: 2017-01-24
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: No