Consumer complaint received 2022-01-27
Company: TRUIST FINANCIAL CORPORATION
State: NV
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
My mortgage loan was with XXXXXXXX XXXX, Monthly payment of {$2600.00}. 
Sun Trust ( now Truist ) purchased the mortgage. The " annual " Hazard Insurance ( homeowners ins ) payment of {$1000.00} was due XX/XX/XXXX, however prior to that date my insurance agent and I had re-analyzed my homeowners insurance and the annual premium payment was going to increase to {$1100.00}. We ( The insurance agent and I ) had 3 joint phone calls with Sun Trust, advising that the premium was increasing and Sun Trust would receive an additional bill of the difference between the {$1000.00} and the {$1100.00}. Sun Trust then paid the {$1000.00} premium on XX/XX/XXXX. 

Then on XXXXSun Trust paid {$1100.00} instead of paying the difference of {$91.00} although we had spoken with their insurance dept 3 times. The homeowners insurance company finally refunded the overpayment of XXXX to me and I immediately returned the amount to Sun XXXX as an additional escrow payment on XX/XX/XXXX After paying the {$1100.00} in error Sun Trust immediately re-analyzed my escrow account telling me I now had an escrow shortage ( due to the {$1100.00} they had paid in error ) and immediately raised my monthly payment to {$2800.00}. I contacted Sun Trust and explained their error, however they would not re-analyze the escrow account. 

On XX/XX/XXXX Sun Trust ( this is the 3rd time ) again paid the full " annual '' homeowners insurance amount in the amount or {$1100.00}, making this the 3rd time in 3 months they have paid the full annual amount which is only due once!. I contacted Sun Trust again and filed a complaint immediately ( # XXXX ). Meanwhile Sun Trust immediately again re-analyzed my escrow account again telling me I have a shortage again and is raising my payment again, as they have now paid a total of {$2200.00} in error ( {$1100.00} + XXXX = XXXX - {$91.00} ). I have not received the overpayment refund from my homeowners as of today but will return the amount to escrow as soon as I do. 

Sun Trust has paid the full amount of my annual hazard insurance premium 3 times in 3 months and each time has failed to accept responsibility, has failed to re-analyze the escrow properly by deducting the amounts they paid in error, and each time has immediately raised my next mortgage payment to cover the " escrow shortages '' which they have created by their repeated errors. Due to this Sun Trust has raised my mortgage payment twice within 3 months to cover their errors. They are now requiring me to pay {$300.00} additional every month to cover their escrow shortage errors. 

In 3 months my payment has gone from {$2600.00} to {$2800.00} and now to {$2900.00}! 

My complaint with Sun Trust is being handled by an agency outside of Sun Trust who has no experience and can get no progress made with the escrow account re-analysis to discount both over payments. The " client advocate '' complaint agency can also do nothing to stop Sun Trust from raising my mortgage payments over and over to cover Sun Trust 's mistakes.

If I don't pay what they require my credit will be ruined- so I have no choice but to pay extra for their mistakes!

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