Consumer complaint received 2023-12-21
Company: TRUIST FINANCIAL CORPORATION
State: FL
Product: Mortgage
Sub-product: VA mortgage
Issue: Trouble during payment process
Sub-issue: Escrow, taxes, or insurance

Complaint:
There is no telephone number listed for the XXXX XXXX XXXX in the Truist document XXXX. Their instructions clearly state that I should contact the XXXX XXXX XXXX to request the ESCROW FEE WAIVER. 

I contacted TRUIST customer service and the agent, at first, didn't understand what I wanted. He would not connect me to the XXXX XXXX XXXX, despite repeated requests. Eventually, he said I didn't qualify for an ESCROW WAIVER. I asked him what he was basing this evaluation on, and he refused to tell me. I continued to ask to be transferred to the XXXX XXXX XXXX, as per the Truist document instructions. He refused and hung up on me. 

In XX/XX/XXXX, Truist did not pay my property taxes, despite receiving the notice of amount due in XX/XX/XXXX. In XX/XX/XXXX, I received a notice from the county property tax collector stating my property taxes were not only in arrears, but a penalty and interest had accumulated.

I immediately contacted Truist and asked why my taxes had not been paid. To make a long story short, it took me multiple telephone calls to Truist to ensure my property taxes were paid. I also repeatedly called the county tax collector and explained I was working on it.

I am ultimately the one responsible for paying my escrow, which I understand. However, Truist requires me to pay them a set monthly fee for my escrow, which they accumulate interest free, agreeing to pay my escrow, including property taxes. 

In XXXX, Truist failed to do this until the taxes were overdue, causing derogatory credit information for me. 

In XX/XX/XXXX, Truist received a statement of a new bill for property taxes. In late XX/XX/XXXX, I received a notice, again, from my county property appraiser, that my property taxes had not been paid, and that if not paid by XX/XX/XXXX, penalty and interest would again accrue. 

I contacted Truist, again, on XX/XX/XXXX, to ask why my property taxes had not been paid and when they would be paid. I did not receive an answer. I warned them that if they did not pay the taxes, a penalty and interest would occur again. 

The next day, XX/XX/XXXX, Truist sent notice of payment of my property taxes. 

If I had not contacted Truist, I have no doubt they would have not paid the taxes on time, for the second year in a row.

This is unacceptable. Truist collects escrow money from me and pays me no interest on this money. Then they do not pay the property taxes when due.

I wish to manage my own escrow account for my mortgage. I followed the proper procedure as outlined in the Truist document I mentioned previously, and attempted to request an escrow waiver, only to be rebuffed, and denied this right I have to an escrow waiver. 

Truist is an irresponsible financial institution. While I am obligated to pay my mortgage, I am seeking to take over the payment of my taxes and insurance so I can ensure they are paid on time, something Truist has failed to do, as is legally required of them.

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