Consumer complaint received 2021-02-11
Company: FIFTH THIRD FINANCIAL CORPORATION
State: MT
Product: Mortgage
Sub-product: FHA mortgage
Issue: Trouble during payment process

Complaint:
Fifth Third Bank only adjusts escrow accounts once a year, in XXXX. I contracted XXXX and became ill on the XXXX of XXXX, and somehow missed the letter telling me of a the upcoming escrow shortage and the increase in my payment. My mortgage is paid automatically through my bank every month. It was not until XXXX, 2021 that I received a call form 5/3 informing me that my last 2 payment were short. Although they had received over {$3000.00} from my bank they had not applied the payments because they were not the exact amount. 

First call. XXXX XXXX I immediately called them and while on the phone sent the additional money through my bank. I explained to them what had happened and the women I was speaking to told me that I if closed my escrow account this could not again. While on the phone with her I electronically sent {$88.00}, escrow for XXXX, through my bank and later as she instructed, sent them an email requesting to close my escrow account and received an email confirmation from them on XXXX. 

After one month and numerous calls it is still not resolved. I have done everything I possibly can to resolve this issue but every time I call the bank I get completely different instructions. I have never dealt with or heard of anyone else who has encountered such an unprofessional bank and am questioning whether there is something nefarious going on. 

Second call a few days later. Reached a man at 5/3 escrow who said the escrow was not closed. Asked him why and he replied maybe you didn't send enough money. I asked him how much I still needed to send and he relied he didn't know. I asked him to transfer me to someone who did and he said, " NO. '' I asked him several times how to resolve this and finally he instructed me to send {$1100.00}, which I did immediately. 

Third call a few days later. This time I reached a woman who said escrow still not closed and explained, incorrectly, that the escrow shortage was for last year and to send {$340.00}, which I sent while on the phone with her, and to call back in a few days to request that they update my payment amount. 

Fourth call was again a few days later and after retelling the above story, the woman apologized and said the first woman was right and the escrow had been closed and the {$1100.00} the man told me to send was actually my new payment amount and had been applied for XXXX. I told her that I had no faith that this was resolved, that they had reported a late payment to credit bureaus, my first in over 40 years, and did not want to risk something going wrong and I had set up an automatic payment that they would receive the next day for {$1700.00}. She assured me that after 20+ years in mortgages, she knew what she was doing, said to cancel that payment, and I need not do anything else, everything was in order. She said I need not call back and did not need to request an update of the payment amount. 

On Monday, XX/XX/XXXX, I received a letter dated XX/XX/XXXX, stating that they had received a payment for {$1100.00} not {$1600.00} and asking what to do with it. I immediately sent another {$700.00} to them online. 

Fifth call, XX/XX/XXXX, I demanded that I speak to a supervisor and only after having to repeat the entire story again was given to a woman named XXXX and for the 6th time had to repeat the entire story. She said she would send it to be investigated and they would call me in 2-3 business days. 

Sixth call. Today, XXXX I received a voice message from XXXX who asked me to resend the email requesting closure of my escrow, said they did not receive the first one, which I have a confirmation from them for, and suggesting that I pay the full amount including {$550.00} for escrow. I called her and got voicemail, then asked her to return my call and sent another email as she instructed, for which I received back a confirmation from them. It is XXXX and no response yet from XXXX XXXX 

Seventh call. I called 5/3 and woman said they have still not received the {$700.00}, nothing has been applied to my account and to call back tomorrow. 

I have no idea what happened to the {$340.00} that posted to my account on XXXX and 5/3 won't tell me either.

Company response to consumer: Closed with explanation