Date Received: 2018-05-02
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I believe my bank, XXXX XXXX XXXX, is in violation of the Homeowners Protection Act of XX/XX/XXXX regarding the cancellation of PMI. According to this act, the law requires home mortgages signed on or after XX/XX/XXXX to automatically terminate PMI once the homeowner reaches 78 % LTV, or gains 22 % equity in their home, based on the original property value ( lesser of purchase price/appraised value ). The HPA defines cancellation date as, at the option of the borrower, either : ( 1 ) the date on which the principal balance of the mortgage is first scheduled to reach 80 percent of the original value of the property ( regardless of the outstanding balance ), or ( 2 ) the date on which the principal balance of the mortgage reaches 80 percent of the original value of the property based on actual payments. On XX/XX/XXXX, I made a {$3000.00} payment to my principal. The bank did not apply it to my principal. I called and on XX/XX/XXXX, they corrected the mistake ( this is documented with them ) and backdated the principal payment to XX/XX/XXXX. At that point, my principal balance reached 80 % of the original value of the property based on actual payments. According to the HPA, my PMI should have been automatically cancelled. I called and spoke with someone at M & T on XX/XX/XXXX to ensure that it would be cancelled ; I was told that paperwork would be filed. On XX/XX/XXXX, my monthly mortgage bill was automatically deducted from my account as always ; I saw that PMI had been deducted. I called M & T again and was told that this was because the mortgage was in arrears and that the PMI would be removed for the XX/XX/XXXX payment. On XX/XX/XXXX I received a letter from the bank stating that my PMI Waiver was approved and that I would receive an escrow analysis within 60 days. On XX/XX/XXXX, M & T again withdrew PMI. I called today, XX/XX/XXXX, and was informed that the paperwork for PMI takes " awhile '' and so during the interim I would have to continue to make the PMI, but that my XX/XX/XXXX payment would not deduct it. I was told I would not be refunded for the PMI they took out after the cancellation. If I understand the HPA correctly, the date of termination should have been XX/XX/XXXX and, at that point, the PMI should have been canceled. I understand that it was in arrears, but M & T 's claim of " paperwork processing time '' seems to be in contrast with the HPA 's wording of " automatic cancellation. '' I believe that M & T is acting fraudulently, and that I am protected under the HPA act. I suspect that other consumers are being treated unfairly, as well.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 14624
Submitted Via: Web
Date Sent: 2018-05-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-05-02
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: We applied for a loan modification the first time last year on XX/XX/XXXX, we got approved on XX/XX/XXXX and complied with the 3 month trial payment starting on XX/XX/XXXX of the amount of {$2100.00} and so on follows the months of XX/XX/XXXX and XX/XX/XXXX. And after XX/XX/XXXX payment they declined us because of Deed was not on our names. But I spoke to a representative informing me that we still had until XX/XX/XXXX to transferred back the Deed back in to our names. But once M & T Bank received our last payment of XX/XX/XXXX modified payment which we mailed in our check before XX/XX/XXXX and thats when M & T Bank informed us that we were declined due to the deed not being in our names but again they never informed us that once XX/XX/XXXX payment was received by them that it was an automatic decline. At that point we had the deed transferred back into our names and were told that we had to start the loan modification process again. Now we were informed today on XX/XX/XXXX, that we were declined again now because they couldnt support the modification because of the lengthy time which had nothing to do with us. We had all the paperwork completed and turned in a timely manner. Thank you, XXXX & XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 92595
Submitted Via: Web
Date Sent: 2018-05-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-05-01
Issue: Written notification about debt
Subissue: Didn't receive enough information to verify debt
Consumer Complaint: M & T Bank has violated 15 USC 1692 by continuing collection activity after a cease and desist and 15 USC 1681 by failing to report complete and accurate information to credit reporting bureaus.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: DC
Zip: 20020
Submitted Via: Web
Date Sent: 2018-05-01
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-04-30
Issue: Problems at the end of the loan or lease
Subissue: Problem with paying off the loan
Consumer Complaint: In XX/XX/XXXX, my XXXX XXXX was totaled in a hit and run. I was instructed by the finance manager of the dealership that I got the car to not continue car payments to M & T for months after the total loss as it was GAP insurance 's responsibility. My car insurance ( XXXX XXXX ) issued the there payment to M & T in XX/XX/XXXX. GAP insurance was working on the claim and was responsible for the remainder of payments and M & T was aware of that. I have not received any bills, balance remaining statements, breakdowns, final notices, or notifications of the payments made to M & T. I recently was applying for a home loan ( XX/XX/XXXX ) and they had me dispute the M & T loan on my credit report since I knew the balance remaining was not {$12000.00} since GAP paid. After disputing it with each of the credit agencies, on XX/XX/XXXX-XX/XX/XXXX, XXXX, XXXX, and XXXX all updated saying the M & T account was charged off/in collections since XX/XX/XXXX, which I had no notice of. They credit report claims that the amount charged off is {$2500.00}. However, they charged off the amount off {$12000.00}, which, again, was GAP insurance 's responsibility. GAP insurance made their payment on XX/XX/XXXX of {$10000.00}, which is not listed on the credit report either. It states that NO payment have been made since XX/XX/XXXX. Aside from that I was told they couldn't charge off an account if payments had been made, even if it was made by insurance. I, then, didn't receive a remaining balance until XX/XX/XXXX by XXXX XXXX. I've requested a breakdown of these charges from XXXX XXXX, as well, which I have been unable to get from him or anyone else at the company. I've been working with XXXX XXXX, XXXX XXXX, and VP XXXX XXXX routinely since XX/XX/XXXX with no one mentioning this account was charged off. They are aware that I had every intention of paying the remaining amount once all insurance claims were processed. I even offered to pay the balance in full if they would send me a statement of how they got to the remaining balance and for the charge off to be removed from the credit report, as this affected my co-signer 's credit score, too. They denied my request and said although charge-offs can be reversed, they were not going to do so since they feel the bank did nothing wrong. I disagree due the fact that when they charged the account off, I was not forewarned nor had GAP insurance made their payment yet, meaning the financial obligation wasn't mine at that time. I was never offered to set up a payment plan, nor did I receive a final notice. When I finally received my remaining balance on XX/XX/XXXX, I asked for a break down on how they got to that final number, which, again, was denied. They remaining balance does not match what GAP insurance said would be left on the loan nor what I once discussed with XXXX XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 172XX
Submitted Via: Web
Date Sent: 2018-04-30
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-04-26
Issue: Managing an account
Subissue: Banking errors
Consumer Complaint: On XX/XX/XXXX I obtained ride services from XXXX and utilized my M & T Bank debit card for payment. The charge for the transaction was {$4.00}, with {$2.00} added by myself for a tip, for a total of {$6.00}. However, I discovered a second charge of {$13.00} for the same ride. I contacted XXXX and they confirmed that the second charge of {$13.00} was only supposed to be an authorization. However, it turned into an incorrect second charge, subsequently processed by M & T Bank. I submitted a dispute of the incorrect second charge of {$13.00} with both XXXX and M & T Bank. On XX/XX/XXXX I received correspondence from M & T Bank stating that my dispute claim had been denied ( claim # XXXX ). I discovered that M & T Bank investigated the wrong XXXX charge of {$6.00} and not the second incorrect XXXX charge of {$13.00}. I informed M & T Bank of their investigative error but they have not initiated a new investigation, or reversed the incorrect charge.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 10001
Submitted Via: Web
Date Sent: 2018-04-26
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-04-25
Issue: Managing the loan or lease
Subissue: Problem with fees charged
Consumer Complaint: Date of Loan : XX/XX/2014, Term 75 months, Monthly payment XXXX. During the first 14-20 months payments were made on time. I ran into unanticipated financial hardships and payments began to age. The bank failed to mention extensions were available to me. Once informed of the potential for an extension the bank stated the account would have to be " in good standing '' to grant an extension. This took several more months to achieve resulting in additional late fees. I ultimately qualified and was granted extensions, however I incurred an extraordinary amount of late fees. Each month was late was equivalent to over {$150.00} in late fees. Approximately 15 % of the monthly payment. My account is current except for the late fee portion which is currently over {$2000.00}. I already paid a substantial amount of late fees that are not reflected in my statement. Before the loan matures I would like to resolve the late fees and identify if the late fees are appropriate and legal. I've tried on several occasions to resolve the late fees with minor success. Thank you
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NJ
Zip: 07748
Submitted Via: Web
Date Sent: 2018-04-25
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-04-23
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I submitted CFPB Complaint # XXXX-XXXX on XX/XX/XXXX. M & T did respond but advised me that they would be sending a letter to XXXX XXXX XXXX, XXXX XXXX, New York XXXX coping XXXX with. the solution. They did notified XXXX but I never received a copy of their resolution. I called XXXX XXXX XXXX XXXX today at the number provided in the attached letter. I spoke to a consumer service representative who never heard of the CFPB and was no able to provide me with a copy of the response letter to the CFPB. I am in the process of selling my house and the M & T lien is still showing on the title report. It was my understanding that this issues was resolved in XX/XX/XXXX. I need XXXX XXXX XXXX XXXX to provide me with documentation that they no longer have a lien/mortgage on my property. Thanks Mr. XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 11001
Submitted Via: Web
Date Sent: 2018-04-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-04-22
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My mom passed away XX/XX/2017. And willed the home to my XXXX niece and nephew and made me executor of the estate. Prior to my mom 's death we quit claimed the home so it was in my niece and nephew 's name. The mortgage company now is giving us the major run around and not allowing us to transfer the mortgage over into my niece and nephews names and pretending both my parents are still alive. We have sent both death certificates and they acknowledge the got both death certificates. Along with the death certificates I sent the quit claim and a notarized will claiming me as executor and that the house is to be willed to my niece and nephew. And all this was sent certified mail and the U.S. Post office shows the entire package was delivered. So they are intentionally now are threatening foreclosure. My mom was my niece and nephews PAYEE for thier SSI and social security held back atleast three months of payments after my mom passed to find them a new payee. So there was a delay in payments but it was because of the Social Security Administration not by us. But either the way the mortgage bank is going to proceed with foreclosure and will not communicate anything about the mortgage because they are claiming my parents are still alive. This is very illegal what they are trying to pull. And we can not afford a attorney. We have a very limited income as I am a XXXX veteran. Please help us.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AZ
Zip: 857XX
Submitted Via: Web
Date Sent: 2018-04-22
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-04-23
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: XXXX shows i have 4 collections which is only 2 because of duplications. Thanks for your help.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MI
Zip: 48315
Submitted Via: Web
Date Sent: 2018-04-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-04-19
Issue: Written notification about debt
Subissue: Didn't receive enough information to verify debt
Consumer Complaint: MT Bank has violated 15 USC 1692 by continuing collection activity after a cease and desist and 15 USC 1681 by failing to report complete and accurate information to credit reporting bureaus.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: DC
Zip: 20020
Submitted Via: Web
Date Sent: 2018-04-19
Company Response to Consumer: Closed with non-monetary relief
Timely Response: Yes
Consumer Disputed: N/A