Consumer complaint received 2017-02-01
Company: BBVA FINANCIAL CORPORATION
State: TX
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Settlement process and costs

Complaint:
BBVA Compass is attempting to charge me an improper and unlawful mortgage-related " fee. '' My efforts to get BBVA to remove the " fee '' have been unsuccessful. 

About two years ago, we purchased a new home financed by XXXX BBVA Compass loans. On the morning of closing, we were given a HUD-1 Settlement Statement from the title company for the second, smaller loan. Line XXXX of the settlement statement listed {$380.00} as the " CASH FROM BORROWER '' due at closing. As detailed elsewhere in the settlement statement, this amount equaled the title company 's fees plus governmental recording fees for the second loan ( specifically, {$310.00} for " Title services and lender 's title insurance '' ; {$4.00} for " Flood certification '' ; {$5.00} for " Courier '' ; and {$62.00} for " Government recording charges '' ). There were no other fees identified on the HUD-1 Settlement Statement. 

The title company instructed us to bring a personal or cashier 's check to the closing for {$380.00} made to the title company. Pursuant to those instructions, we obtained a cashier 's check for {$380.00} made to the title company. When we arrived at the closing, we presented the cashier 's check for {$380.00} to the title company 's agent, the agent accepted the cashier 's check, and we executed the closing documents. 

Several months later, I noticed that BBVA had assessed a " fee '' on our monthly loan statement in the amount of {$380.00}. When I initially contacted BBVA, I was told that the " fee '' was an error and would be removed. After that did not happen, I contacted BBVA again last month. 

The story changed the second time around, with BBVA now claiming the " fee '' was imposed because we did not pay the {$380.00} at closing. During the call, however, BBVA openly admitted that its records were inaccurate and incomplete. For example, BBVA admitted that the HUD-1 statement in its records differed from the final, executed HUD-1 statement in the title company 's records. ( BBVA apparently discovered this incredible discrepancy when it contacted the title company while I was placed on hold. ) BBVA also admitted that the title company had sent checks to BBVA for which BBVA had no record. ( Bizarrely, BBVA asked me to contact the title company on BBVA 's behalf and request copies of the checks. ) When I asked the BBVA agent how the closing documents could possibly have been signed if, as BBVA Compass asserted, we failed to pay the {$380.00} due at closing, the BBVA agent had no answer. 

Despite the obvious and admitted discrepancies in its records, BBVA refuses to withdraw the improper {$380.00} " fee. '' When we closed on our house, we paid {$380.00} to the title company for the " CASH FROM BORROWER '' as instructed by the title company. The fact that BBVA allegedly has no record of such payment is entirely due to BBVA 's negligent and sloppy record-keeping and its inability to obtain documents from the title company. BBVA needs to remove the {$380.00} " fee '' immediately.

Company response to consumer: Closed with non-monetary relief