Consumer complaint received 2016-02-10
Company: CITIBANK, N.A.
State: MI
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
In XXXX of XXXX, Citimortgage force placed an additional flood insurance policy on my mortgage with the XXXX XXXX insurance company. In my inquiries I was repeatedly told that Citimortgage had a policy that required the greater of either 100 % of the replacement cost of the insurable value of the improvements ; the maximum insurance available from the XXXX, which is currently {$250000.00} per dwelling ; or the unpaid principal balance of the mortgage, differing from XXXX requirements which states the lower of the two. My loan was written by XXXX originally and Citimortgage purchased this loan " as is '' from XXXX, wherein my flood insurance was sufficient. As a result of my inability to get anyone at Citimortgage to assist me, my insurance agent or the compliance office from Perl mortgage I was forced to take out an additional policy and lower my homeowners coverage so that I was not increasing my flood coverage excessively in terms of my payments. On XXXX XXXX, XXXX I sent a Qualified Written Request to Citimortgage regarding my concerns and requesting follow up. By XXXX XXXX, XXXX I had still not heard back from them within the required 5 days, resulting in the Compliance Officer from XXXX and myself to call Citimortgage again and request the information only to be told the same response regarding their policy. I understand the policy, but what I do not understand and would like an answer to is the question as to why my mortgage was purchased as is and requirements were sufficient for the first year in which Citimortgage held my loan and upon renewal of my flood insurance they changed requirements. In my research throughout the last 4 months I discovered a class action lawsuit in which Citimortgage settled out XXXX XXXX dollars for the same situation I am experiencing with the force placed policies. XXXX XXXX was also the party alleged to be involved in this lawsuit. To date, I have still not received any resolution to my concerns. This situation has also resulted in an increase of about {$50.00} to my monthly mortgage payment, which has budgetary effects on my household income. 
Record of contact with Citimortgage : ( dates included as documented, many phone calls took place in which I did not follow up with e-mail or other form of documentation ) XXXX/XXXX/XXXX Call with Citimortgage Insurance Department inquiring about recent policy Insurance Agent ( XXXX XXXX XXXX, Agent XXXX ) made numerous calls to Citimortgage inquiring about the policy between XXXX and XXXX. 
XXXX/XXXX/XXXX Conference Call with insurance Agent XXXX and Citimortgage, spoke with escalations specialist at Citimortgage ( This was second conversation with this escalations specialist XXXX, I do not have the date of the original conversation, however, on the call the XXXX began conversation by telling us he was the individual I had spoken with previously ) XXXX/XXXX/XXXX Insurance agent made additional follow up contact regarding changes to my flood policy. 
Qualified Written Request sent on XXXX/XXXX/XXXX XXXX/XXXX/XXXX Conference Call with XXXX XXXX ( XXXX XXXX XXXX ) and Citimortgage insurance department Escalation Specialist XXXX, regarding request for explanation to the changes on the mortgage along with an inquiry as to the lack of response within 5 days of the QWR. Did not get resolution, sent a fax from XXXX with information.

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