Consumer complaint received 2020-12-28
Company: HOME BANCSHARES, INC.
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
XXXX XXXX is the owner of XXXX XXXX complaining against Centennial Bank who was the lender. Also, all dates implied year 2020 unless noted otherwise. All correspondence was through emailing. 
1. On XXXX XXXX, XXXX XXXX requested for mortgage Payoff Statement from lender Centennial Bank.

2. On XXXX XXXX Centennial Bank issued payoff statement in the amount of {>= $1,000,000}.

3. XXXX XXXX requested for a correct payoff statement since the amount was higher than what it should be.

4. After many emails and many versions of payoff statements later, Centennial Bank was unable to provide the correct payoff statement delaying closing of the sale of the property and kept insisting that Centennial Bank has made no errors in XXXX XXXX mortgage. 
5. XXXX XXXX suggested paying off the loan amount but set aside {$20000.00} in a closing company trust fund so that the trust fund will be used after the correct amount of pay off calculated. Centennial Bank rejected.

6. XXXX XXXX provided Centennial Bank the correct amount of loan balance with detail of All payments, interest and the escrow expenses which leads to a loan balance of {>= $1,000,000} as of pay date on XXXX  XXXX. Centennial Bank chose to adjust only the incorrect interest resulting in a new payoff balance of {>= $1,000,000} and once again kept insisting that Centennial Bank was correct.

7. On XXXX XXXX, XXXX XXXX was forced to payoff the incorrect payoff amount after more than 3 weeks of delay in closing to avoid {$100000.00} penalty from the buyer. {>= $1,000,000} was paid to Centennial Bank. This payoff amount is still incorrect and XXXX XXXX  still being overcharged by {$11000.00} not including the interest that should be deducted from the overpayment amount over the years.

8. After XXXX XXXX  paid off the mortgage, XXXX XXXX  had to remind Centennial Bank many times to correct the payoff amount as Centennial Bank intentionally delayed everything. On XX/XX/XXXX, Centennial Bank confirmed once XXXX XXXX submitted the documents Centennial Bank asked for, Centennial Bank would match XXXX XXXX numbers and issue the check for the discrepancy. XXXX XXXX then sent in the documents and Centennial Bank lied again. Centennial Bank came up with many excuses to not correct the {$11000.00} and XXXX XXXX had to spend a lot more time to go over this with Centennial Bank. 
9. On XX/XX/XXXX, Centennial Bank stated : After a full review of the loan history, the Bank has arrived at a total refund due of {$9900.00}. Please review the attached spread and let us know if you agree with the total refund amount due. 
10. On XX/XX/XXXX, Centennial Bank stated again We have taken account all your comments and have reviewed this matter with the Banks Senior Management. Based on a thorough review of the payment history, the Bank is confident that the total refund due of {$9900.00} is correct. Please let us know what address to send the refund check. 
11. On XX/XX/XXXX, Centennial Bank said : The bank believes we have made best effort to resolve the out of balance and return any funds due to you ( {$9900.00} ). At this time, the amount sent you by XXXX is what we have been authorized to refund. Please let us know where you would like the check sent. 
12. On XX/XX/XXXX, XXXX XXXX provided mailing address requested. 
13. On XX/XX/XXXX ( 3 months since XX/XX/XXXX ), XXXX XXXX finally received the check from Centennial Bank in the amount of {$6600.00}. Centennial Bank came up with excuses and lied again to XXXX XXXX even after confirmed an amount of {$9900.00} many times.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation