Consumer complaint received 2017-05-23
Company: BBVA FINANCIAL CORPORATION
State: TX
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
There were errors on our closing disclosure that is causing us to pay more then the stated amount of {$00.00}. As per the  CD we were to receive {$1500.00}, but due to the errors on the CD we are n ow having to pay {$1000.00} due to a short caused in our escrow account because of the errors on our  CD., As p er  TRID " If  amounts paid by the consumer exceed the amounts specified  under paragraph ( e ) ( 3 ) ( i ) or ( ii ) of this section, the creditor complies with paragraph ( e ) ( 1 ) ( i ) of this section if the creditor refunds the excess to the consumer no later than 60 days after consummation, and the creditor complies with paragraph ( f ) ( 1 ) ( i ) of this section if the creditor delivers or places in the mail corrected disclosures that reflect s uch refund no later than 60 days after consummation '' Though while a  BBVA broker as acknowledged the errors on the CD via email, BBVA has yet to refund the amounts we are short in our escrow or deliver a corrected disclosure 60 days after consummation. BBVA has instead played stupid and claimed that because the Title company will now show them proof of paying the full premium they somehow are not liable for the errors on the CD. Please find our Homeowner 's insurance cancellation letter that was sent to BBVA on or about    XXXX / XXXX /  XXXX  . Yet to dat e BBVA has refus ed to comply with the TRID as required by law.   A creditor or assignee has no liability under this section or section  1607 of this title or section 1611 of this title for any failure to comply with any requirement imposed under this part or part E, if within sixty days after discovering an error, whether pursuant to a final written examination report or notice issued under section 1607 ( e ) ( 1 ) of this title or through the creditors or assignees own procedures, and   prior to the institution of an action under this section or the receipt of written notice of the error from the obligor, the creditor or assignee notifies the person concerned of the error and makes whatever adjustments in the appropriate account are necessary to assure that the person will not be required to pay an amount in excess of the charge actually disclosed, or the dollar equivalent of the annual percentage rate actually disclosed, whichever is lower. Here  BBVA has not done so and has only demanded that we pay the shortage that was caused by the error on the CD and so that now we have to pay more than the stated amount that was on the CD. This is a direct violation of TRID and has caused us harm in that we are being forced to pay more than the amounts stated on the CD. This should entitle us to any actual damages sustained by such person as a result of the failure ( namely the {$1000.00} and ; ( 2 ) ( A ) ( iv ) in the case of  an individual action relating to a credit transaction not under an open end credit plan that is secured by real property or a dwelling, not less than {$400.00} or greater than {$4000.00} however determined by the CFPB.

Company response to consumer: Closed with explanation