Consumer complaint received 2018-01-02
Company: M&T BANK CORPORATION
State: MO
Product: Mortgage
Sub-product: FHA mortgage
Issue: Struggling to pay mortgage

Complaint:
XX/XX/XXXX To Whom It May Concern : I would like to formally submit a complaint and request action be taken immediately to rectify this situation. My home loan was purchased by M & T Bank from XXXX XXXX XXXX XXXX XXXX ( XXXX ), XX/XX/XXXX. Before M & T purchased the loan I had been working to bring it to current with XXXX. I had a baby in XX/XX/XXXX and was unable to work causing my account to become delinquent. 
I was told by XXXX, who holds my 401k earnings, that I needed a letter of Default that showed threat of foreclosure in order to request the funds ( Demand Letter ). I requested and received the documents needed by XXXX XX/XX/XXXX. I then contacted XXXX and was told they no longer owned my loan and I would need to resolve the matter with M & T Bank. I received notice from M & T bank several days later ( letter dated XX/XX/XXXX ) and contacted them immediately. I requested the documentation needed by XXXX and was told that M & T could not apply or send out any late notices, fees or foreclosure information for several months while the loan transfer takes place and that the letter would be automatically generated and sent out after that time period. 
I contacted M & T several other times within that time period just to stay in contact and was told the same information, that I had to wait and it would be sent to me. After not receiving the letter I contacted M & T again at the begging of XXXX. I asked what could be done and how I could get the letter. The representative told me the delinquent statement would be enough for my 401k company even though its not the notice I requested. 
Feeling helpless I submitted the late statement to XXXX who again told me that was not enough. After receiving this information back on XX/XX/XXXX, just several days after my previous call, I again immediately contacted M & T and was informed my account had been put into active foreclosure. At this point I requested a supervisor and was put with XXXX XXXX. I explained to XXXX exactly what happened and after his digging into the history found out that the letter I was looking for was sent out prior to M & T purchasing the loan. I explained I had not received this letter from XXXX and was told repeatedly by M & T that they would be getting me the necessary documentation. I am completely capable of making the monthly payments. I intentionally did not make payments because I was informed the letter was coming to me and just needed the additional funds to bring the account current and then monthly payments would proceed as usual. 
XXXX said he would try to have a copy of the letter from XXXX sent out to me but would not contain the full amount because it was from months ago. Finally with his help, I did receive the letter and sent it to XXXX on XX/XX/XXXX. I contacted M & T that day to let them know I had the information sent to XXXX for funds and was informed it had now been assigned to an attorney and even more fees would be applied ( which should not be applied ). I requested the attorney information and contacted them as well. 
I was very proactive in staying in touch with M & T since they purchased my loan. Had this been addressed correctly, the issue would have been settled easily. I am a single mother of two and now in serious threat of loosing our home because I was lied to and misinformed for months by M & T Bank. The information I requested was withheld and no one ever informed me I was in threat of foreclosure even up to conversation just several days before the status change. If this is not addressed by XX/XX/XXXX I will be contacting the Better Business Bureau, the Consumer Financial Protection Bureau as well as the Attorney General. 

Sincerely, XXXX XXXX at M & T Bank suggested I file a formal complaint to M & T Bank regarding my situation and the events that occurred with my loan since the purchase of my loan. I took his advise. The events below are the results of that complaint. 


The above letter was sent to M & T Bank XX/XX/XXXX and I was contacted back by XXXX XXXX XX/XX/XXXX. She apologized and said she was doing an investigation and would have something sent out to me by the end of the week. I never received anything. I contacted XXXX back approximately Tuesday XX/XX/XXXX to find out why I hadnt received anything. She again told me she was working on it and would have something out by the end of the week. I again received nothing. I called XXXX back Wednesday XX/XX/XXXX to check the status and left a message. XXXX contacted me back the following day. The only thing I was told was exactly what my complaint to them stated. She again apologized and admitted that M & T had given me incorrect information time and time again and she was escalating my case to her superior on Tuesday XX/XX/XXXX. I have been continually put off and was never offered other options to correcting my loan. I am told that I was given false information and yet no one has done a thing to correct their mistake. I am formally submitting a complaint against M & T Bank. 


Sincerely,

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 monetary relief