Consumer complaint received 2023-11-11
Company: TRUIST FINANCIAL CORPORATION
State: SC
Product: Mortgage
Sub-product: FHA mortgage
Issue: Trouble during payment process
Sub-issue: Escrow, taxes, or insurance

Complaint:
I worked in the financial services industry for over ( XXXX XXXX XXXX  I have just experienced the absolute worst customer experience I have ever witnesses! 

On XXXX XXXX I notified Truist XXXX XXXX Department to cancel my escrow account as a result of having switched Insurance companies from XXXX XXXX XXXX XXXX XXXX XXXX When I switched insurance companies, I established automated payment withdraws from my checking account thus eliminating the need for an escrow account. 

XXXX ) XXXX XXXX - I contacted Truist to cancel my escrow account. I was told that I had a negative balance due to them recently paying my homeowners insurance to XXXX. I paid the balance immediately which zero 'd out the escrow account. I was then informed that I had to sign an escrow cancellation form. Truist advised that they could not utilize XXXX, Email, or overnight mail. They would only send the document via standard mail. 

XXXX ) XXXX XXXX - I received the form, signed it, and faxed back to Truist. 

XXXX ) XXXX XXXX - After no communications from Truist, I called for a status and was informed that my request for escrow cancellatiion was denied because they needed proof of insurance. Truist never contacted me regarding this request. I immediately contacted my insurance agent who sent proof of insurance. 

XXXX ) On XXXX XXXX I received an email stating that Truist just paid my new insurance. No one authorized Truist to make this payment nor did XXXX XXXX send them a bill or invoice. Truist wrongly made this payment even though they were provided proof of insurance and payment! After another call to Truist, I was informed that they would issue a stop payment and that my escrow account would be closed once the funds were returned ( even though this was their mistake. 

XXXX ) XXXX XXXX I spoke with a customer service supervisor who informed me that she would contact the insurance department to escalate the stop payment and also contact tax department to ensure that the tax payment did not go hence I had already paid the tax bill. I was told she would contact me on Monday XXXX XXXX with update/status. 

XXXX ) On XXXX XXXX I again called Truist for an update as I had received NO communications and/or updates. I was informed that a stop payment was not issued and tahat processing had already begun to pay tax bill ( which I already paid ). I was informed again that my escrow account would not be closed due to negative balance resulting from Truist incorrectly paying XXXX XXXX homeowners. I was told that I must get an overage check from XXXX XXXX and then forward that money to Truist to again zero out my escrow account. 

XXXX ) On XXXX XXXX I contacted Truist to determine what my new mortgage payment would be less the escrow amount. I was told that I must pay the entire amount ( including escrow ). I was also threatened with reporting a delinquecy to the credit serice bureau 's. 

One month after making a simple request to remove the escrow from my mortgage account and still no resolution!! This has been the absolute worst customer experience I have ever witnessed. Truist has refused to address the issue and refused to escalate the issue to management! I encourage everyone to use caution when dealing with this company!!!!

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