Consumer complaint received 2022-11-28
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: TRUIST FINANCIAL CORPORATION (IA)

My wife and I pay an additional {$1000.00}, {$2000.00}, XXXX XXXXXXXX, and sometimes more each XXXX on our mortgage payment to Truist Bank and we expect the excess to always go to principal reduction. Our regular mortgage payment is {$1000.00}. XXXX times in the last XXXX XXXX Truist has applied our payment as XXXX regular payments of {$1000.00} each which includes an extra interest payment and an extra escrow payment. This reduces our principal reduction by the total of XXXX extra interest and escrow payment. I have called Truist many times to get these extra {$1000.00} payments reapplied. They have corrected XXXX of the XXXX. I have called Truist at least XXXX times over the last XXXXXXXX XXXX to get these extra payment reapplied. Each time I talk to them I ask that they put a note in my file indicating that all excess be applied to principal reduction. They have stated several times that my file is so annotated. 

They have not corrected the XX/XX/2022 payment. Truist received my payment of {$4000.00} on XX/XX/2022 They applied this as XXXX regular payments of {$1000.00} with an additional escrow reduction of {$1900.00}. Truist should have applied my {$4000.00} as XXXX regular payment of {$1000.00} and an additional principal reduction payment of {$3000.00}. 

I called Truist in early XX/XX/2022 and asked that they correctly apply the payments I had made in XX/XX/2022 and in XX/XX/2022. They said that this would be done. They did correct the XXXX payment which lowered my mortgage balance by {$760.00}. They did not make any changes to the XXXX payment. 

I did not notice that the XXXX payment had not been corrected. I next contacted Truist in XXXX and asked that they correctly apply the XXXX payment. They did so and my mortgage balance decreased by {$730.00}. 

I next contacted Truist on XX/XX/2022 and asked that they correctly apply the payment of {$3000.00} that they had received the previous day on XX/XX/XXXX. I also asked that they correct the XXXX payment that they had previously told me would be corrected and which had not. They told me that both the XXXX and the XXXX payments would be corrected on XX/XX/XXXX. The XXXX payment was corrected and again my mortgage balance decreased by over {$700.00}. The XXXX payment was not corrected. 

I next called Truist on XX/XX/XXXX and asked that the XXXX payment be corrected. I was told that this correction had been denied. 

I next wrote a NOTICE OF ERROR letter to Truist on XX/XX/XXXX explaining everything that had been going on for many XXXX. I demanded that they immediately correct the XXXX payment. I received Truist 's response letter dated XX/XX/2022. Truist 's response did not even address the XXXX payment. They instead addressed the XXXX payment that had been corrected on XX/XX/2022 in response to my phone call at that time. 

In XXXX of my conversations with Truist employees in an attempt to have these corrections made, the employee told me that this is fleecing. If the XXXX payment is corrected it will lower my mortgage balance by {$750.00}. I need help getting this XXXX payment corrected and I want Truist to stop " fleecing '' ( a Truist employee 's word ) my mortgage account. Truist believes that I would rather pay them an extra interest payment and an extra escrow payment as opposed to reducing my principal balance.