Date Received: 2015-09-02
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: I made an application for an interest rate modification from M & T Bank. The home values in my area are below my mortgage balance. I tried XXXX toget them to adjust my interest rate to reflect the market, they have refused on both occasions.
Company Response:
State: FL
Zip: 33319
Submitted Via: Web
Date Sent: 2015-09-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-08-31
Issue: Settlement process and costs
Subissue:
Consumer Complaint: In XX/XX/XXXX we took out a HUD XXXX rehabilitation loan. The general contractor came to us before the last draw stating he was over by XXXX or more in " extras '' as was looking to keep money which was due to the heating subcontractor who 's payment he received on the prior draw but had yet to pay, I notified our lender M & T bank out of XXXX at the time. All work was ceased as we had to go thru arbitration process. M & T had failed to obtain lien waivers prior to any draw requests which did not protect us, the borrower. The general contractor placed a mechanics lien our house for his alleged extras which was dismissed after arbitration in XX/XX/XXXX. The heating sub also placed a lien as well which was valid and paid after arbitration and rightfully so. When is Initially happened, I contacted the White House at who referred me to HUD. I spoke with XXXX XXXX back in XX/XX/XXXX from the XXXX office. I told him what transpired and he said it was impossible as the bank requires lien waivers. M & T at the time did not require lien waiver prior to draw disbursement and therefore, did not protect us. Since our issue they have changed their policy and now require a waiver prior to draw release, This is 5 yrs later and we are still financially affected from this due to work we paid for out of pocket that should of be down under the rehab loan, plus attorney fees. Never mind the work still remains which we do not have money for. I have been trying for years to get this point across ... the fact is M & T back did not follow the governments guidlines and policies and procedures but it us the homeowner who still suffering and affected due to this mishandling. Our loan has since been sold to XXXX, but I am seeking acknowledge that M & T bank did not protect us. I will get you more information so you look into this matter. I have tried several offices at Hud, only to get Bounced around. XXXX XXXX XXXX is no longer with HUD XXXX office but he specifically told me that lien waivers should of been obtained. Had they been I would not be writing to you today and till trying to get someone to acknowledge that we were not protected. As a result of all financial issues M & T caused us, we has to go thur a modification process. We won america 's most desperate landscape in XX/XX/XXXX due to the condition he left our front yard and house in. You can see before pictures on line. Again the inside still requires work we have not been able to afford. We have a special needs child who has XXXX and is a XXXX that we were trying to get the house together for. The house is inefficient as work is needed therefore heating is more int the winter. To M & T bank this was corrected, they changed their procedure adding lien waivers protecting them selfs. We are still waiting to be correctedThe address of the property is XXXX XXXX XXXX, XXXX XXXX. Our account number with M & T bank was XXXX am determined for someone to acknowledge and hold M & T bank accountable. I have written to the White House previously, which is how I cam in contact with XXXX XXXX XXXX. I have tried to get several other HUD agents to look into this matter. I will contact the White House again. Please let me know what you can do for me or who I can turn too. This is not a small matter as it has ruined us financially and emotionally. It says you can download attachments, I have and can get all documentation, but not if I send right now, I 'm sure M & T has their case file and all you need to verify is how they did not proctect us but since they require lien waivers when they should of at the time of our loan.
Company Response:
State: CT
Zip: 064XX
Submitted Via: Web
Date Sent: 2015-08-31
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-08-30
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: My brother passed away on XXXX XXXX, 2015. I was chosen by him to be the personal representative for the estate and XXXX of the beneficiaries. I had no authority or access to his funds until the probate went through county court. I called several of the companies that my brother did business with and informed them of the situation including M & T Mortgage. M & T Mortgage told me they could not speak to me until I had provided official documents from county court that I was the personal representative. I faxed them a death certificate and asked them to notate on the account that my brother had died. I gave them my cell phone number for any necessary communication about the estate. In late XXXX, I was officially appointed by the court to be the personal representative. I promptly faxed M & T Mortgage the document and waited the required 48 hours for them to process the fax. After contacting them, they claimed they did n't have any records of my fax, so I faxed it again. After waiting another 48 hours, I spoke to a representative. They agreed to waive the late charges under the circumstances and accepted my payment to get the account up to date. I had done everything possible to handle my brother 's obligations. This payment was made before 90 days after the account was delinquent. According to M & T Bank, there would be no foreclosure proceedings before 90 days after the first payment was delinquent. The next payment would be due XXXX XXXX. In the process of going through the house and getting it ready to put on the market, I noticed the lawn had been mowed, the water was shut off, some items were missing from the house, and the door had been re-keyed with some paddle locks on other doors. We corrected this problem and figured a vagrant had attempted to live there. We informed the neighbors and were all prepared to call the police if there were any more intrusions. We proceeded to sell the house. It closed on XXXX XXXX. When we received the payoff quote from M & T Bank it had late fees and XXXX extra charges with no explanation. XXXX charge was for over XXXX dollars. My realtor and the title company were baffled. I called M & T for an explanation and they claimed that I was n't authorized to act on the account. The title company faxed them my documents ( this was now the third time! ) They now claimed that they could n't speak to me for 72 hours. I was faced with a buyer who was in a hurry to close, and a realtor and title company that would be faced with a bunch more work to reschedule the closing. I felt there was no other choice, but to authorize the payment and confront M & T Bank after the fact. Based on the horribly disorganized and possibly shady activities of this bank and the fact that after all this time, I am still not able to talk to them, I am asking for help. It was bad enough that we lost a dear loved one, but now we have to deal with this. I acted promptly and honorably in every situation with his estate. This company appears to want to take advantage of our loss.
Company Response:
State: MN
Zip: 56301
Submitted Via: Web
Date Sent: 2015-08-30
Company Response to Consumer: Closed with monetary relief
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-08-28
Issue: Settlement process and costs
Subissue:
Consumer Complaint: Hellothe issue is that we were doing a modification that started with XXXX and then it was given to M & T Bank for continuation. Towards the end of our modification, our house was sold, although we had received papers from the court that they were giving us a date in court to stop the foreclosure sale that was suppose to happen the following week. Yet, our house was sold a week BEFORE the court hearing was suppose to take place and when all papers shows that the modification was taking place. I wrote to the court but they replied that hearing was final. I also appealed the courts final decision and the appeal was denied. I asked for a rehearing and that too was denied. Since the beginning I have tried to explain all the process to them. I haave sent and resent papers with proof of what I 'm saying with very detailed explanation and it seems that it has fallen on deft ears from banks to courts to everyone. I found your article in XXXX magazine and decided to write to you about it as a last recourse. I still have hope everything can be undone. They had also told me that if I showed something had changed they would take it under consideration when we were still in the modification, but although I showed my husbad was now working nothing was taken into consideration and nothing changed. Thank you
Company Response:
State: FL
Zip: 33055
Submitted Via: Web
Date Sent: 2015-08-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-08-27
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: On XX/XX/XXXX I was approved for a loan modification. And on XX/XX/XXXX I was told that the modification was going to be rescinded due to the second mortgage company XXXX Bank would not move their lien position. I received and XXXX XXXX letter dated for XX/XX/XXXX and I went to XXXX on XX/XX/XXXX. I subsequently received a letter from M and T Bank on XX/XX/XXXX that my mortgage was forward to XXXX for foreclosure proceedings. On XX/XX/XXXX I received a letter from XXXX XXXX XXXX stating they will be pursing legal actions. Based on the documents I received from XXXX and the XXXX XXXX with the dates provided, M and T Bank is in violation of this law.
Company Response:
State: PA
Zip: 19111
Submitted Via: Web
Date Sent: 2015-09-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-08-27
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I am a XXXX. I have been attempting to complete a Short Sale for a client that has an FHA insured loan for almost 5 ( five ) years. They were wrongfully harassed and denied assistance from M & T Bank and HUD. I am reaching out to you for your help to resolve this nightmare. I will outline the timeline and actions that have led to this complaint. I listed this house XX/XX/XXXX. More owed than what the FMV of the house was. She had lost her job ( no fault of her own ) and could no longer afford the payments. The loan was owned by XXXX XXXX XXXX. We submitted the required packet several times in it 's entirety. Fully executed. We submitted an offer that was reasonable at the time the Purchase Contract was written. We stayed current submitting paystubs, bank statements, XXXX ... .everything that XXXX and FHA required for consideration of an Approval to Participate. We made no progress at all with XXXX. In XX/XX/XXXX, we received a letter stating the loan had been sold to M & T Bank. So we started all over. Same thing. Sent fully executed, complete, up to date packet to M & T. Stayed current ( all with M & T account numbers and Authorization Packet ). We have submitted MANY complete packets. We still had nothing from M & T except, " It 's still under review ''. In the interim of trying to get this ATP, the sellers experienced marital problems and filed for divorce. During this same time period, the soon to be ex-husband was commuting more than XXXX miles ( one way ) to work. There are no back roads to get there as we have our XXXX XXXX XXXX that funnels all traffic onto ONE highway. I did finally get a Sales Contract Review from M & T. However, I did so by contacting FHA HUD. I had a ( new ) cash offer that could close in TEN days. We submitted the POF, est HUD and all other needed documentation. M & T denied the sale and have since asked for yet ANOTHER packet. When I was there yesterday to check on the property, there was a " Notice of Trustee 's Sale '' scheduled for XX/XX/XXXX. These are the relevant questions to ask both M & T and HUD ; 1. The sellers have met at least XXXX ( XXXX ) criteria for an Approval To Participate. a Loss of incomeb Excessive commute ( over XXXX miles one way ) c Legal Separation/ DivorceWe have NEVER received an ATP from M & T . We did receive ( after HUD called M & T many times ) the PFS from the bank stating that the offer did not fall within the " normal 88 % '' required net of the PFS 'Three Tier ' system ( even though the house had been on the market for nearly XXXX years ). M & T refused to even consult for a variance with HUD of any kind. So the divorce is final, the house is now EMPTY ( well, except for the heavy stuff that they left for me to clean up ). The water has been shut off, the electric and gas will be shut off on XX/XX/XXXX. The yard will not be maintained, the HOA fees will not be paid ... and let me mention the fact that XXXX of the down-stair ( below grade ) bedrooms have issues with water infiltration and XXXX has a 'sump pump ' in the window well, which is obviously not working good as the carpet is wet and the baseboard is swelled and stained. So while I was DOWN in the WINDOW well trying to coax the sump pump on, I realized how totally WRONG this is. I have invested almost five years in submitting everything for loss mitigation and I am STILL getting nowhere. My clients have complied completely and finally just gave up. HUD states it ca n't force the bank to co-operate. Is n't that like buying insurance without getting the coverage? My clients paid PMI every month and even though they QUALIFY for FHA HUD assistance they get NOTHING from HUD. I am discouraged but I am even more MAD. No WAY M & T can auction this to secure their " XXXX % ''. Attorneys are expensive. So are repairs on a flooded home. My tax dollars at work? Yes, for the banks. But XXXX with the tax payers that keep this very broken system going. Sad : (
Company Response:
State: UT
Zip: 84062
Submitted Via: Web
Date Sent: 2015-08-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-08-26
Issue: Loan servicing, payments, escrow account
Subissue:
Consumer Complaint: It is public knowledge that large banks, including XXXX XXXX XXXX, transferred accounts that were fully ( or mostly ) paid off, to third parties with misleading and inaccurate information. Those third parties, and debt collectors, in turn harassed and intimidated consumers. While the financial institutions settled some of these cases, there is ongoing litigation involving other cases. My experience, detailed below, is another example of that practice by your bank involving a third party debt buyer. I request your personal attention so we can resolve this matter within reason, promptly. Since XX/XX/XXXX and up to and including XX/XX/XXXX, on a loan with a balance of $ XXXX ( as confirmed by XXXX ), I 've paid {$240000.00} to XXXX/M & T, as confirmed by my bank. Other analysis confirms I may have overpaid on the loan already. Copies of the cashed checks, detailed correspondences sent with each payment, and a log of communications with XXXX and M & T representatives are also available on request. I made my monthly payments slightly in excess of what was due. I also made significant advance payments with a clear intent to accelerate loan payoff. I sent property tax payments in full several months ahead of when ( the first installment was ) due. I included copious notes in the checks and accompanying letters on how the payments were to be applied. XXXX representatives assured me my account was current and not in escrow, my payments were being applied as directed. I relied on those representations and continued, in good faith, to pay off my loan. In summary, as noted by a XXXX representative XX/XX/XXXX, " I had no cause for alarm whatsoever. " I was therefore shocked and dismayed at M & T Bank 's claim I was behind by {$70000.00} in payments and their threats to foreclose on the property unless I pay up immediately. Neither XXXX nor M & T are stepping forward to resolve the many discrepancies in their narratives. XXXX claims the loan is now being handled by M & T and M & T claims they are relying on what XXXX presented them. M & T informed me they would research the payments and get back to me. I have n't heard from them since other than via XXXX XXXX who informed me M & T said they would commence foreclosure proceedings if I do n't pay up immediately. As noted earlier, there is ongoing litigation and a history of large institutions, including XXXX, transferring, with misleading and inaccurate information, fully ( or mostly ) paid off loans to third parties ( such as M & T/XXXX ) who then abuse, threaten and intimidate unwary consumers. This is another instance of that practice. Unfortunately it involves your bank ( XXXX ), another smaller entity ( M & T ), and I 'm caught in between. I trust you 'd be able to understand my predicament, especially in light of my good faith efforts to pay off the loan early. It is only fair and reasonable that XXXX, as was represented me, apply every penny and dollar I sent it applied for the intended purposes, i.e., toward the mortgage ( principal and/or interest ) and where appropriate, property taxes. While I am cautious, given XXXX 's public record and its mistakes on my account, I trust you 'd agree my expectation is fair and reasonable and XXXX 's action to correct for its mistakes and lapses would enable our resolving this situation. Once that is complete, should there be any balance, I am open to paying it off to XXXX or M & T Bank. Attached are documents summarizing the inconsistencies, anomalies, and errors in the bank 's " explanation and analysis '', evidence of payments and analysis showing the loan has already been paid off in full.
Company Response:
State: CA
Zip: 940XX
Submitted Via: Web
Date Sent: 2015-08-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: Yes
Date Received: 2015-08-25
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: I entered in a loan modification from XXXX XXXX, with M & T Bank thru XXXX. This agreement stated the total monthly payment as of {$1900.00} ( XXXX, as principal and interest ) + Escrow ( XXXX for Hazard Insurance + Property taxes ). On XXXX/XXXX/XXXX they sent me account Projections and the projected monthly payment escrow would be {$560.00} from XXXX XXXX to XXXX XXXX. On XXXX/XXXX/XXXX they, sent me a new account projections showing that I have {$7200.00} of escrow shortage, thus the monthly payment increase in {$600.00}, it means 30 % increase payment shock. They still are sending mortgage statement requesting payment as of {$30000.00}. Even though, based on the Loan Modification Agreement the amount of {$1300.00} must be applied to Principal + Interest, the monthly statement they sent me did not apply any amount to the princiapal but to an " Unappplied Funds '' something called " Suspense Balance ''. My property taxes are paid in XXXX and the Insurance are disbursed on XXXX. The annual changes of the hazard insurance and property taxes + insurance are increased in less than 1 %, but the escrow amount, according to the mortgagee increased more than 30 %.
Company Response:
State: FL
Zip: 33177
Submitted Via: Web
Date Sent: 2015-08-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-08-23
Issue: Loan modification,collection,foreclosure
Subissue:
Consumer Complaint: On XXXX XXXX, 2015, I called M & T Bank to inquire about options to assist me because of a family emergency and may have trouble making my Mortgage Payment that month. I spoke to a Representative named XXXX XXXX at ext XXXX. She proceeded to tell me about options that were available to assist. However, in the in depth conversation with her I asked several times that if I accepted XXXX of the options, would it negatively impact my credit. She insisted that because I had never missed nor had a late payment that this was a service available to me based on my excellent payment history. She was deceptive in explaining the options and led me to believe that I could skip a payment and add it on the next XXXX months payments without any impact to my credit report. I felt confident in accepting her offer based on inaccurate information. I indicated repeatedly to XXXX XXXX that if it would impact my credit score negatively, then I would prefer not to take the option. I let her know that I have never made a late payment on anything and did not intend to start now. XXXX XXXX assured me that I had nothing to worry about as long as I successfully complied with the payment plan. I made my XXXX payment on XXXX XXXX, 2015 according to the agreement, however, because I check my credit regularly I discovered a XXXX day late payment reported by M & T Bank. I contacted XXXX XXXX to try to resolve the matter and opted out of the payment plan making all scheduled payments as originally agreed. No one has tried to listen to the recorded conversation to rectify this matter. I have called insistently without a resolution or reply. I feel that this is a discriminatory act and a violation of the Fair Credit Reporting Act. I wish to have this matter resolved and the late payment corrected with all XXXX credit bureaus. This has reduced my credit score by XXXX points and negatively impacting my life. Please help to resolve this matter, I take my credit very seriously and due to false information, I was tricked into jeopardizing my excellent credit rating. My loan is in good standing and I am not in danger of losing my home. I simply want the late payment removed because it is tarnishing my good name which could possibly result in higher rates and negative actions from other companies that I have credit with.
Company Response:
State: MI
Zip: 48038
Submitted Via: Web
Date Sent: 2015-08-23
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No
Date Received: 2015-08-21
Issue: Deposits and withdrawals
Subissue:
Consumer Complaint: I have complained about M & T bank in the past. The prior complaint number they actually RESPONDED to was # XXXX that time, my complaint was they are not enough branches to service XXXX people XXXX XXXX XXXX XXXX who live in XXXX city. It was my understanding that banks should have branches in all neighborhoods, depending on both geography and racial mix. M & T is an utter failure in this regard. To recap. In 2013, they closed the XXXX branch, located in Shoppers market. Shoppers had another bank, which M & T bought XXXX XXXX XXXX and within a year, they promptly closed every market branch. This week, we went to OUR closest branch XXXX XXXX XXXX XXXX that is accessible by car, but not by a viable bus line. That branch was closed with no warning, no signs posted, just the sign saying the branch had moved to the XXXX Road. Let me point out that location is XXXX block from the XXXX XXXX line and another branch is located XXXX, on the same street, less than XXXX miles away. They have also closed the XXXX branch ( all XXXX neighborhood ). NO ATM 's have been added in our neighborhoods that accept check deposits, in spite of their lies to the contrary back in XXXX 2013. I am XXXX years old, my mom is XXXX. Neither of us drive, so for them to blithely point to XXXXneighborhoods where we can do our banking is just not acceptable. Those banks are all readily accessible within a XXXX 15 minute car ride - but why do we have to leave OUR neighborhoods to find a branch? Why do we need to get a RIDE to access our bank? If you can ask them these questions, I would like to see the lies they come up with this time. I do n't care if they sponsored the stadium. What I want is not to spend XXXX or more HOURS to get to the bank to deposit a check. Thank you.
Company Response:
State: MD
Zip: 21207
Submitted Via: Web
Date Sent: 2015-08-21
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: No