Consumer complaint received 2018-02-21
Company: ARVEST BANK GROUP, INC.
State: MA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
Good Morning-I am attaching email trail and letters to explain my situation. In a nutshell I was told I needed XXXX coverage for flood insurance, I actually have XXXX. I received a letter from Arvest mortgage stating my coverage was insufficient, the reason my coverage is what it is, because it is based on attached emails. I followed up in a phone conversation with Arvest stating I can not afford anymore flood can I lower my homeowners so they balance out. I was told yes so this is what I did. Ever since I did this I have received letters from Arvest. I did this refinance because I was trying to lower my mortgage payment and consolidate date. I signed the refinance due to the numbers given to me which now I find are not true numbers. If given the real numbers this may have deterred me from following through with this refinance. Arvest is passing the buck and I need answers and resolution which I have not received. Any help would be greatly appreciated. 
** cant attached documents, so copy and paste email From : XXXX [ mailto : XXXX ] Sent : Tuesday, XX/XX/XXXX XXXX XXXX To : XXXX XXXX XXXX ; XXXX XXXX XXXX ; XXXX Insurance Coverage XXXX Subject : Fwd : Your mortgage with Arvest - XXXX Information Security REMINDER : This is an EXTERNAL EMAIL. Stop and think  before clicking a link or opening attachments. 
Good Morning- This email is also for XXXX who I believe is in the Insurance coverage dept and was told to email on Friday. 

Anyway, below is what I was told I needed for Insurance coverage on my house, which I have. 

>XX/XX/XXXXI receive a letter from Arvest stating your  records show the flood insurance coverage on my property doesn't meet your minimum coverage requirments. 
>XXXX XXXX, XXXX I believe received a call from Arvest regarding the above issue and I said I cant afford anymore flood, I was told my home owners and flood had to agree so I said can i lower my other insurance so I don't need to up my flood I was told I could so I did. 
XXXX XXXX, XXXX YET another letter saying the deductible on my policy is missing or higher than required XXXX XXXX I call my Insurance company this letter meant nothing to them, so we had a conference call with XXXX at Arvest as well as my Insurance company and we got know where because no one at Arvest could give me a straight answer. At this point I was given the XXXX  email and told to put to the attention of XXXX. 


Needless to say I am so XXXX off on receiving all these letters from Arvest when I did was I was told to do. I do NOT want a another phone call either, because what I am told on the phone is not true either. 

I want something in an EMAIL, stating where this went wrong and what is going on. Needless to say I have had it. 

Here are attachments that may be helpful to see why I have had it. I was with XXXX before and boy do I want to go back to them. This mortgage company is ridiculous. 

Attached also is my Insurance coverage. So look at that and the email below and tell me I did the wrong thing?? 

Regards XXXX XXXX another email On XX/XX/XXXX, at XXXX XXXX, XXXX XXXX XXXX wrote : Good morning XXXX XXXX, I just got off the phone with XXXX XXXX  Flood insurance regarding your flood coverage. You currently do not have enough flood insurance. To properly insure you, your coverage needs to be {$220000.00}. Can you please contact your agent and increase your coverage? They require your consent to do so. 

Please do not hesitate to contact me with any questions. Once I receive the updated flood insurance we are ready to set up your closing! 

Have a great day, XXXX

Company response to consumer: Closed with explanation