Consumer complaint received 2020-12-24
Company: ZIONS BANCORPORATION
State: ID
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
This complaint is about a misapplied payment and Zions Banks inability and/or unwillingness to correct the error. 

I was sent a delinquency letter dated XX/XX/2020 informing me that my XX/XX/XXXX payment was delinquent. This letter and its dates are absurd. This letter did however prompt me to investigate my payments which is when I noticed that a partial payment I made in XXXX was misapplied as principal only and not towards my monthly payment. 

My monthly payments are {$1900.00}. Starting in XX/XX/2020, I started making biweekly payments for {$1000.00}. The two XXXX payments were for XXXX, the two XXXX payments were for XXXX, etc For some reason the payment received on XX/XX/XXXX ( for XXXX payment ) was applied to principal only which initiated all the following payments to be off by half a month. No late payments were reported on my monthly statements so I considered everything to be fine since every month I was sending in a little more than what I owed. 

I chose the biweekly as that is how I get paid and I enjoyed sending payments that coincides with my paychecks. I have since stopped that process and will send the exact payment a few days prior to the XX/XX/XXXX of the month. Although this is less convenient for me, I think it will alleviate further complications with Zions banking systems. 
Starting on XX/XX/XXXX, I called several times in an attempt to have the payment reapplied correctly. I called almost every week and at least 4 times. Almost every time I called I was on hold for roughly and hour. During each call the Zions employee stated that they had either fixed the problem or sent it to the correct department ( where they would reapply the payment correctly ). When I asked to speak with a supervisor I was told they were too busy to talk with me. As discussed below, the supervisors were supposed to call me back and never have. 

During the first call, I waited over an hour. After explaining the situation the operator said she would transfer me ; instead she hung up on me. Instead of calling me back she just moved-on. I had to call back in and wait another hour. The next operator explained he fixed the problem and that there was enough money in my suspense account to make XXXX payment. This was false ; there was not enough and the payment was not completed. 

During the subsequent call, the operator informed me that she, Could see what he did and that the request was not filled out correctly. She informed me that she had filled it out correctly and sent it to a processing department. She assured me that she did it correctly and that she would call me back if there were any problems. Not only did I wait an hour to discuss this but again I was told inaccurate information. I have continued to verify that the payment has not been corrected. 

After another week, I called back in. I again explained the problem and ask that they look into my record for notes on my previous calls. These are the only employees I have identification on as I did not expect this simple problem to progress this far. Any of the names mentioned are my best guess as the operators are not very clearly spoken. Ms. XXXX ID # XXXX took my call and said she would transfer me to the Processing Department. After another long hold an operator from the first department answered. I had to explain the problem again to her. Her name was XXXX XXXX She would not give me her ID number even though I asked for it. I requested to speak with a supervisor and explained that I was about to file a complaint. 
After a brief hold, she explained that all the supervisors and Team Lead were too busy to take my call. She said XXXX XXXX ( supervisor ) or XXXX ( Team Lead ) would reply to me within 24 hours. 

I explained to her that this bank-caused problem has taken over a month to fix and that I wanted to talk with someone. Again they were too busy ( so I was told ). I explained that 24 hours was unacceptable and someone needed to call me more promptly ; I also did not believe they were telling the truth again. It turns out I was sadly correct. No employee responded to me and the payment is still not corrected. 

Zions inability or unwillingness to correct this simple problem is unethical, unprofessional and might consist of a fraud. Because of the long hold times, transfer failures, lying, incompetence, unresponsive and lack of any urgency, they have created an environment which is impenetrable. I have exhausted all my available options to fix their mistake.

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