Consumer complaint received 2023-07-31
Company: ZIONS BANCORPORATION
State: AZ
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Trouble during payment process

Complaint:
I called NBAZ ( National Bank of Arizona ) a division of Zions Bancorporation. I talked with the VP of Mortgage Loan Department, XXXX XXXX. I informed her that my contractor was fraudulently drawing money from my Construction Loan Account. He was using false receipts to draw money against my account. My request was that the bank pursue the contractor to get my money back. I also asked that the bank put the money back into my account. The bank approved at least XXXX that I know of plus a personal check for {$5000.00}, from my personal account. 

The Bank informed me that they would not pursue the contractor for bank fraud even though he may have committed Bank Fraud by using false receipts to get the money, and wire fraud because this was all done on the internet. 

This loan uses a draw system where the contractor has the ability to request Draws. This is the Draw where I know that there are issues. I know that fake receipts are posted on my Built account. I thought nothing of it at the time. Then I went researching and found the below : There was a Draw requested on XX/XX/2023. This draw included {$4400.00} for Ext/Int doors and trim. I called the people on the receipts after I discovered that XXXX XXXX of XXXX XXXX XXXX had lost his Contractors License, my realtor suggested that I check on the validity of the receipts. There is a receipt in the built file for this amount from XXXX XXXX XXXX XXXX XXXX. I called and talked with XXXX. I gave him the invoice number and asked when these were scheduled to be delivered. He informed me that there were no doors on order for XXXX XXXX XXXX in XXXX. He stated that he had recently done business with XXXX XXXX but had issues getting his payment, he said he is not interested in doing business with them any more. He stated that there is something fishy with your receipt and it was probably just an estimate with no money ever put down. 
There is a Draw for {$12000.00} for Cabinets. I called the people on the receipts after I discovered that XXXX had lost his license, my realtor suggested that I check on the validity of the receipts. There is a receipt in the built file for this amount from hardware resources, in XXXX, Ca. I called the cabinet maker, hardware resources, and talked with XXXX. I asked when the cabinets were scheduled to be delivered to our house, I told her I needed a date because I was looking at ordering countertops. I gave her the invoice number and she looked it up. XXXX told me that that invoice was paid. The date on the invoice is XX/XX/2023. The draw that was authorized had a request on XX/XX/2023. Then she went on to say that that order was completed and delivered. I knew it was not delivered to our property. I gave her my address and asked when they were delivered to the address. She then told me the delivery address on the invoice that I have was not the address where those cabinets were delivered to. She also said that was not the address on my invoice is not in their system.

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