Consumer complaint received 2022-07-13
Company: FIFTH THIRD FINANCIAL CORPORATION
State: CO
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
My mortgage company XXXX AKA the Bank ) offered us a post Covid19 forbearance modification plan. The modification agreement specified new extended amortization terms, as well as a reduced interest rate. The mortification agreement provided new monthly payments and terms to replace all previous amounts owed that remained from the original mortgage loan and the payments deferred during the forbearance period. We repeatedly asked ( and documented ) the Bank to provide us with disclosures, explaining how the new payments were calculated and they failed to provide this information. We had to accept the terms of the agreement in good faith and the agreement was signed by all parties and notarized in XX/XX/2021. Four months later in XX/XX/2021, after the new corresponding monthly mortgage payments were well established, the Bank informed us via a correction letter that they made an error and did not include deferred amounts in the modification. The Bank added those deferred payments to our mortgage account balance several months after the agreement was finalized, even though they were not authorized to do so, and we never agreed to this in the signed and notarized documents. 
We requested that these charges be removed multiple times and the Bank refuses to do so. In order to get the Bank to respond to any requests for additional information, we had to lodge a complaint with the XXXX XXXX XXXX XXXX XXXX XXXX  ) in XX/XX/2021. In response to our complaint, as well as a subsequent complaint to the CFPB, the Bank first reported false information stating that we agreed to the new terms and signed new documentations. We provided proof that that their claims were false. The Bank then changed their response and in subsequent correspondence stated they can change the terms of the modification agreement without our approval, insisting that they had the right to do so under an Errors and Omissions statement ( O & E ) that was part of the modification agreement. The Bank already previously stated that we had to be responsible for their mistake using the same reasoning, simply misquoting the intent and conditions stated in the O & E. We previously documented how the O & E language is very specific and very clearly does not require a correction of this type of error. 

The Bank continues to change their story, after we demonstrated that the Bank 's various claims and reasoning for inaction were false, they are now going back to the same reasoning yet again, trying to delay and stall. The Bank provides false claims hoping to satisfy regulatory requirements, by just filing responses that were inaccurate and had no enforceable standings. After 10 months and 13 rounds of communication we exposed the flaws in their arguments. While the Bank finally provided disclosures, we originally asked for, they have refused to correct the deferred charges that are not part of the signed and notarized modified mortgage. In a response to our latest appeal the XXXX suggested that we again contact the CFPB as it overseas institutions the size of our bank. Based on the information we have provided to the XXXX, a copy which is attached, ( as well as the latest correspondence from the Bank, and our response ) we are hereby filing another complaint and ask that another request be forwarded from the CFPB to the bank to correct the situation.

Company response to consumer: Closed with explanation