Consumer complaint received 2024-07-17
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: REGIONS FINANCIAL CORPORATION (FL)

After checking Regions Bank online resources in XXXX  2024 we decided we wanted to request a modification to our mortgage. Our goal was to pay {$50000.00} to principal and have our loan recast to lower our monthly payment amount. We were able to see some basic information online but I called customer service for additional detail and to see what was needed to initiate the process. I was advised that the request had to be made in writing. We completed a written request and paid {$50000.00} at our closest branch location. I then followed up with a call to customer service to see if the process had started? I was advised that there was a {$270.00} fee. I went ahead and paid that over the phone during the call and was advised that the request would be processed and we would receive updated documents in the mail with the updated terms. At no point were we advised that this was time sensitive and required notarized signature. A full week later we left on vacation. On XX/XX/XXXX we returned home to find the paperwork which stated it had to be signed, notarized and returned by XX/XX/XXXX. I immediately called Regions customer service at which point I was advised that it wasn't a problem and to just return asap and that the loan would updated. I questioned this with the representative but assured it was not a problem. We made an appointment at a Regions branch for assistance with notary and then sent the documents back via XXXX XXXX. After a week had passed I contacted customer service since our loan still looked the same online. I was then advised that we had to start over since the documents were not returned in time. If we had been advised of this on the previous call we would not have wasted our time getting the docs notarized and returning. A few days later we received a letter in the mail confirming that we needed to submit a new request. A check for {$270.00} was returned to us ( fee ). The letter advised that we could submit a new request with {$260.00} fee. Again, I called customer service since the amount requested did not match what we had previously paid. After a lengthy hold we were advised that there was a " typo '' on the letter and the fee was in fact {$270.00}. 

Bottom line is we had to start the process over since apparently our original request to recast was no longer valid. We have since done everything required and the situation is resolved with our updated payments effective on XX/XX/XXXX. 

The main concern is the sub standard customer service on this matter. We made the {$50000.00} payment on XX/XX/XXXX and this process should not have taken so long to complete. Our experience was not a good one. Customer service representatives were extremely lacking. We should have been given the details on the full process during our very first call. Misinformation or lack of information from Regions representatives as well as a typo on their correspondence resulted in unnecessary delays.