Consumer complaint received 2021-04-23
Company: BBVA FINANCIAL CORPORATION
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
This is my second complaint on Compass Bank. Below is the response I received XXXX. Ten ( 10 ) checks were sent to compass bank to catch up the account from the covid19 forbearance. According to Compass bank all of the 10 checks from my previous complaint were credited to my mortgage account. This is untrue. According to my PDF statements and my posted transactions from the compass bank website three ( 3 ) are still missing from XXXX {$100.00}, XXXX {$150.00} and XXXX {$100.00} If these checks were credited to my account why are they no posted on any of my mortgage statements and why are they not on my posted transactions through the compass bank website? 

XX/XX/XXXX FEE ASSESSMENT - {$8.00} {$30000.00} XX/XX/XXXX XXXX XXXX XXXX - {$9.00} {$30000.00} XX/XX/XXXX UNAPPLIED PMNT AMT {$59.00} {$30000.00} XX/XX/XXXX XXXX XXXX XXXX - {$9.00} {$30000.00} XX/XX/XXXX XXXX {$100.00} {$30000.00} XX/XX/XXXX REGULAR PAYMENT {$350.00} {$31000.00} XX/XX/XXXX UNAPPLIED PMNT AMT {$200.00} {$31000.00} XX/XX/XXXX REGULAR PAYMENT {$350.00} {$31000.00} XX/XX/XXXX UNAPPLIED PMNT AMT {$150.00} {$31000.00} XX/XX/XXXX XXXX XXXX XXXX - {$9.00} {$31000.00} XX/XX/XXXX UNAPPLIED PMNT AMT {$100.00} {$31000.00} XX/XX/XXXX REGULAR PAYMENT {$350.00} {$31000.00} XX/XX/XXXX UNAPPLIED PMNT AMT {$270.00} {$31000.00} XX/XX/XXXX PAYMENT REVERSAL - {$350.00} {$31000.00} XX/XX/XXXX UNAPPLIED PMNT AMT {$100.00} {$31000.00} XX/XX/XXXX REGULAR PAYMENT {$350.00} {$31000.00} XX/XX/XXXX UNAPPLIED PMNT AMT {$100.00} {$31000.00} XX/XX/XXXX XXXX XXXX XXXX - {$2100.00} {$31000.00} XX/XX/XXXX UNAPPLIED PMNT AMT {$100.00} {$31000.00} XX/XX/XXXX UNAPPLIED PMNT AMT {$100.00} {$31000.00} XX/XX/XXXX XXXX XXXX XXXX - {$9.00} {$31000.00} XX/XX/XXXX REGULAR PAYMENT {$350.00} {$31000.00} XX/XX/XXXX UNAPPLIED PMNT AMT {$290.00} {$31000.00} XX/XX/XXXX XXXX XXXX XXXX - {$180.00} {$31000.00} XX/XX/XXXX GEN ESCROW DISB - {$9.00} {$31000.00} Ms. XXXX, according to your CFPB complaint, you sent 10 bill pay checks from XXXX XXXX  as payment for your mortgage loan account with BBVA USA ( formerly known as Compass Bank, hereinafter, the Bank ). You stated that all the checks were cashed by the Bank but 3 of the payments were not applied to your mortgage account. You requested that the Bank credit your account with {$350.00}, reverse any late fees that have been incurred, remove any late payments from your credit reporting, and provide additional financial compensation. In an effort to address your concerns, we have reviewed your account and Bank records. Bank records show that all of the 10 bill pay checks you referenced in your complaint were received by the Bank and credited to your loan account. Eight of the checks were for {$100.00} and the other two checks were for {$150.00}. The Banks system does not accept partial payments for real estate backed loans, so if a payment is received that is not sufficient to fully satisfy a payment the funds are posted to the account as an unapplied payment amount. These funds accrue in the unapplied balance until sufficient payments are received to satisfy a regular payment amount. The 10 bill pay checks your referenced in your complaint were applied to the account as follows : XXXX ( {$100.00} ) Posted to Unapplied on XX/XX/XXXX XXXX ( {$100.00} ) Posted to Unapplied on XX/XX/XXXX XXXX ( {$100.00} ) Posted to Unapplied on XX/XX/XXXX XXXX ( {$100.00} ) Posted with Unapplied funds eff. XX/XX/XXXX to satisfy payment XXXX ( {$100.00} ) Posted to Unapplied on XX/XX/XXXX XXXX ( {$100.00} ) Posted to Unapplied on XX/XX/XXXX XXXX ( {$150.00} ) Posted to Unapplied XX/XX/XXXX XXXX ( {$150.00} ) Posted with Unapplied funds eff. XX/XX/XXXX to satisfy payment XXXX ( {$100.00} ) Posted with Unapplied funds eff. XX/XX/XXXX to satisfy payment XXXX ( {$100.00} ) Posted as Curtailment eff. XX/XX/XXXX Check XXXX was posted as a principal only curtailment payment because the loan account was no longer past due when the payment was received and posted to the account. You also have a remaining balance of {$100.00} in unapplied funds. A copy of your loan transaction history is attached to the CFPB portal for your review. On XX/XX/XXXX, an agent from our loan research department attempted to contact you using the phone number provided with your CFPB complaint to answer any questions you might have regarding your check payments. The agent was unable to reach you and no voicemail inbox was available to leave a message. As the Bank has accounted for each of the check payments you submitted for review and applied the funds to your loan account, we find no bank error in the processing and posting of your check payments. As such, your requests for fee reversals and financial compensation are respectfully declined. We have submitted a request to have your credit reporting reviewed to ensure this account has been accurately reported and a letter will be mailed to you with the result of the investigation when it has been completed.

Company response to consumer: Closed with explanation