Consumer complaint received 2022-09-07
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: Southwest Business Corporation (TX)

XX/XX/XXXX- XX/XX/XXXX : I have automatic payments without any issue. 

XX/XX/XXXX : I enrolled a new bank account to make payments. 

XX/XX/XXXX : Received foreclosure warning in mail. No notification from SWBC about past due payments. Called and authorized payment in full from new bank account for entire balance. SWBC notified by email that payment was scheduled. 

XX/XX/XXXX : Noticed funds not withdrawn. No notification from SWBC. Called and agent gave vague error - " no account / unable to locate account. '' Appears to be technical error on their system as I have provided account. Authorized payment in full for entire balance + additional month again. SWBC notified by email that payment was scheduled. 

XX/XX/XXXX : Noticed funds not withdrawn ; no notification. Called and agent informed me my old account was still present in system despite me removing it in XXXX. Agent removed. Agent informed me last payment was attempted against old bank account. This is illegal as I did not authorize this. I authorized agent to make full payment from new account again. SWBC notified by email that payment was scheduled and I confirmed a payment withdrawn days later. 

XXXX XXXX : Discovered autopayment inactive and I am 6 days past due. Immediately called to authorize payment exact same way as before. Registered for autopayment once again. 

Several days later, noticed funds not withdrawn. Called and found payment failed and autopayment inactive ; no notification. Agent informed me I am no longer allowed to submit electronic payments and must mail cashier checks. Obviously I accrued a late fee as the cashier check could not be delivered in time to their out-of-state payment office. Asked to remove restriction ; not possible due to 3 failed electronic payments. After informing them that the fault was on SWBC for charging the wrong account I was told they can not assist me and I must fax my concerns to a special number.

SWBC failed to notify me appropriately of failed payments, causing me to lapse. SWBC also charged an account number I did not authorize which is illegal. My credit score has been affected by late payment reporting and restrictions make it unnecessarily difficult to keep account paid by deadline as the payment office is out of state and checks take over a week to mail there, as well as having to visit my bank during regular hours to order a cashier check despite being a fulltime employee who works during these hours. It is obvious to me that the lender has made an error processing my payment, is now punishing me for their error, has failed to notify me timely of payment issues which allow me to casually accrue late charges, and has placed restrictions on my account that especially encourage late payments. 

SWBC 's failure to process my payment correctly and legally has resulted in me accumulating late fees and affected my credit. I do not have any financial issue making payments and I have the resources available to pay off my entire loan today if desired, it is only technical errors on the lender 's side that I am experiencing such issues. 

I have attached exchanges with SWBC. The concerns I mention have never been properly addressed and SWBC has on multiple times replied with the same exact message on different dates. This company is failing to provide any mechanism to resolve this issue appropriately as I continue to rack up penalties that affect my lifestyle. 

I have proactively tried to resolve my issue on many occasions and have always made an attempt to get my account rectified as soon as I was made aware of an issue. The lender is the one with serious problems and the penalties they have given me are now affecting me financially. I am forced to file a complaint because the lender refuses to assist with my issues and is content with continually charging me unfair late fees and requiring legacy payment methods inconsistent with any other company I do business with.