Consumer complaint received 2019-09-13
Company: M&T BANK CORPORATION
State: WA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
I have had a mortgage through XXXX XXXX for over 10 years with no issues. XXXX sold the loan to M & T Bank in XX/XX/2019. I was not " contacted about this change by either XXXX or M & T ''. They both sent paper letters via USPS to the physical residence of the house. I have told XXXX in the past not to send anything important to that address as is not secure. 

I did not receive and EMAIL, Phone call, text and was not documented on my XXXX XXXX  online account. There were no messages on this account detailed the sale of this loan. The information on XXXX XXXX account says : MORTGAGE LOAN ( ... XXXX ) " Important : We aren't able to show your account activity online. '' I took this as they are having technical difficulties as it does not sate loan was sold. 

I have been making payments to XXXX XXXX using automatic bill pay. Payment come out every month automatically without me doing anything. I received no warnings from M & T Mortgage in the form of EMAIL, phone, text they were not receiving payments. I received no warning on my XXXX banking or mortgage accounts pages. They said they sent by USPS which I have not received. ( there is an ongoing issue with USPS as mail has been missing/stolen/not delivered or throw out by roommates as junk mail. ) I found out about this issue when I received a notice from my credit monitoring service that my credit score took a big hit due to M & T reporting. I have been in the process of getting my credit score back in the 700 's  where it used to be. I have made all my payments to everyone on time for well over a year. M & T sent derogatory data that tanked my credit without contacting me and getting a response from me in any way - ever. M & T has NEVER verified with me the details of this account ( they sent paper via US Mail which is NOT contacting me ). M & T had never received anything from me verifying I am aware of this change. 

I contacted XXXX and asked where the money I have been paying for the mortgage is going and why was it not sent to M & T. XXXX advised they " have '' been sending to M & T. M & T says they " have not '' been receiving these payments. Asked M & T to contact XXXX and figure it out and remove from my credit report. They refused to call or remove or even look at it. 

This to me is an issue between XXXX and M & T Mortgage. XXXX sold loan to make money. M & T purchased loan to make money. They have the responsibility to " make sure '' their customers know about this in the form of some kind of acknowledgement. All they did was send paper in the mail and hope it got there. 

At this point my credit is tanked and neither M & T does not know where my money is. There official position is they " never '' received any of my payments from XXXX. XXXX has provided documentation of the payment transfers and I forwarded on to M & T. I have not received a response from M & T. Called them and was told they will look into it and will NOT give a status. Can not tell me if they received the documents. Advised I have to wait for them. M & T has not shown decent customer service and have not been willing to contact XXXX or do anything at this point. They told me this is my issue. 

I did not ask XXXX to sell the loan I did not ask M & T to buy the loan I am in the middle of a disagreement between two banks who give me contradictory information and they will NOT talk to each other - threw the issue to their customer on a transaction they both did to make money for them - not me.

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