Consumer complaint received 2021-11-04
Company: M&T BANK CORPORATION
State: DE
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
A couple of months ago we applied for a refinance through a loan company. Everything went through as expected until we were told they saw we had a HELOC attached to our home. We were confused as we were not aware we had a HELOC attached to our personal home. We do, in fact, have a HELOC but it was taken out years ago from a bank that was purchased by M & T. That HELOC was taken out against our corporation at the time, XXXX XXXX XXXX XXXX That HELOC was to have been attached to a corporation at the time. Unbeknownst to us, M & T attached that HELOC to our home and never notified us. No documentation was ever received stating they did so. Therefore, the loan company needed documentation from us stating the HELOC was paid in a timely basis and we provided that to them. However, when the loan company contacted M & T for signed authorization from them stating they are ok with staying in second lien position, M & T could not verify or confirm that we have a HELOC with them. They told the loan company we do not exist in their system and can not provide any information on our HELOC. Therefore, the loan company withdrew our loan and told us to try and figure out what is going on with M & T before reapplying.

We then visited the branch near us and spoke to the Assistant Vice President. He tried to help, but could not get the HELOC department to work with him as they had no information. We then called the HELOC department numerous times to verify our information only to be told the following : you do not have a loan with us ; your loan was sold and we do not know who has it ; you have no record in our system ; we do not know who you are in our system ; we do not have any record of you paying monthly as you are not in our system. It appears we have been receiving statements for approximately 13 years from M & T and making timely monthly payments and they have no record of it. It has gotten to the point when we call we are placed on hold and they never get back on the phone to help us. One day we were on hold for over an hour when we decided to hang up. 
We do not know who else to turn to for assistance. We are at a standstill with M & T and can not go anywhere from here as they can not and will not help us. 
We are begging that someone please help us with this situation. 
We would like to know where the payments are being applied that are being made monthly. 
We also want this HELOC that is attached to our personal home removed as it has nothing to do with our personal loan. When this loan was taken out, it was taken out under a corporation we had at the time and not our personal home. 
We are desperate to have this matter rectified as the loan company withdrew our loan because of M & T and we can not go to another lender as M & T needs to correct their records. M & T has cost us a loan that would be saving us hundreds of dollars a month. Because of their negligence and carelessness we now have a situation they created that they refuse to help us with.

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