Consumer complaint received 2023-11-23
Company: FIRST HORIZON BANK
State: LA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process
Sub-issue: Payment process

Complaint:
original loan taken out with Iberia Bank XXXX XXXXXXXX. First Horizon took over Iberia and integrated all their systems, including online banking in XXXX of XXXX loan matured XXXX of XXXX the balance amount shown on statements that I do have showed a balance of {$270000.00}. This amount seemed to be about right to me, until I received the actual payoff statement which added an additional {$26000.00} stated as " interest charge past due ''. at no time did I ever receive any info, email, online banking message, etc. indicating there was anything awry with anything on the account, or that interest was past due. Also, nowhere on any statements was this indicated, referred to, or shown. I also have concerns about how payments were applied to principal and interest. Because of these issues, I requested a copy of all monthly statements from the inception of the loan in XXXX. As an XXXX customer, all of my accounts were held there, including the account from which these loan payments were made. I utilized the online banking features which allowed for the storage of all statements. Upon First Horizon taking over, i did start receiving statements from First Horizon, but not until their systems were fully integrated, which was XX/XX/XXXX. Everything prior to XX/XX/XXXX is missing, got lost in the transfer, or as Ive been told " the Iberia information for your account did not merge into our system. Ive also been told " Iberia information was on a different system '', and many other similar things. It was even suggested that if i had any issues, i should research the account from which the payments were made from, but that account too was an Iberia checking account for which there is absolutely no information available through First Horizon. I immediately notified First Horizon that i had serious questions about the payoff statement amount and that i wanted copies of all statements, for a few months i was told they had to escalate the issue, it had to be researched, etc. At one time First Horizon did provide me with a XXXX XXXX document which was supposed to be a record of all payments made, but it did not break down what was applied to principal or to interest, and it was a document created in XXXX, that is not a substitute for actual monthly statements. Since XX/XX/XXXX i have continued to make my payment of {$2000.00} per month, which i did to show good faith and not have any negative credit report info. I was told that since the account was in dispute, they would not legally be able to report anything negative, but they did, monthly they have been reporting a default / loan not paid on my credit report which has dragged my score from XXXX to about XXXX. Also, they have continued to charge interest in the amount of {$30.00} per day from XX/XX/XXXX to present. I have always wanted to get this over as quickly, and payoff the principal due, but they have not been able to provide any of the requested information, and still can not. we have been stuck for several months now, all while additional interest is still accruing. 
In regards to the missing statements from when it was operating as Iberia Bank, it seems those are just not available, they've had nearly 6 months to provide them, but haven't.

Company response to consumer: Closed with explanation