Consumer complaint received 2022-08-16
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: FIFTH THIRD FINANCIAL CORPORATION (KY)

In XXXX, XXXX, I received an email from FEMA stating that the flood plain had been re-assessed for a creek that runs next to my property. The report, included a small aerial picture of my property and house and appeared that the water level would approach one corner, but did not appear to invade the inside of the house. Thinking that it was just a notice of change, I deleted the email. 

In XXXX of XXXX, I received a letter from XXXX bank stating that I was indeed in the flood plain and that I must have flood insurance within 45 days, or it would be imposed on me, and funds taken from my account. 

I contacted FEMA to find out what I could do to appeal the ruling, knowing that when I had the house built, the question of being above the minimum opening elevation ( MOE ) was raised and the elevation was increased by adding 13 dump truck loads of gravel into the foundation walls and cutting the door opening higher. I was told how to begin a LOMC ( Letter of Map Change ) and was told that it would probably be 60 days or more before it would be considered. 

Since I would not be able to get a ruling within the 45 days required by the bank, I searched for insurance, and I was advised to let the bank handle my coverage since they could add it to my escrow payment. 

I contacted XXXX at the number provided on their letter before the 45 day expiration. I informed them that I was appealing the ruling with FEMA and asked the agent if I would receive a full refund if I won my appeal. The answer was yes, that I would receive a full refund once they received the letter of determination from FEMA, exempting me from being in a flood plain. I also asked if I needed to do anything or sign anything to have the bank issue the policy. I was told no, that it would be automatic. 

On XX/XX/XXXX, {$2500.00} was deducted from my escrow account. This depleted the account and there would not be enough funds to cover upcoming tax and homeowner insurance payments unless I deposited the amount of flood insurance into escrow, which I did on XX/XX/XXXX. 

The appeal to FEMA took a while to complete, in that information was requested that was not clear on what they were asking. The original request was submitted to FEMA on XX/XX/XXXX. 

On XX/XX/XXXX, I received a reply from FEMA requesting a survey be performed to determine the MOE. 

It took months to find and schedule a certified surveyor. It was XX/XX/XXXX before I got the completed survey at a cost of {$1100.00} and submit the information to FEMA. I received the final determination letter from FEMA on XX/XX/XXXX and submitted it to the bank on XX/XX/XXXX. 

I never received any notice from XXXX that they had received the information, that it was being process, or what state it was in. Had I not been refinancing my mortgage, I would not have noticed that a partial refund of {$1300.00} was issued XX/XX/XXXX as a deposit back into my escrow account. 

I have been calling and calling, investing for sure more than 100 hours, into arguing several points of disagreement only to find that this department does not handle this and call someone else and going through the story over and over. 
However, one person confirmed that phone calls I had made had been recorded and reviewed and that yes, I had been told I would receive a full refund, and yes, I was told it was not necessary to sign anything and just let it lapse into the insured state. 

I would also like to add, that at no time did I receive a " Flood Insurance Policy '' showing anything regarding my coverage for amount, property or contents. 

I have argued that the release from FEMA states : " If a lender releases a property owner from the flood insurance requirement, and the property owner decides to cancel the policy and seek a refund, the XXXX will refund the premium paid for the current policy year, provided that no claim is pending or has been paid on the policy during the current policy year. '' I contacted XXXX and they looked into the issue. They informed me that they could not find any policy ever being recorded for my property. So, I contacted XXXX Insurance division and requested a copy of the policy. All I received was the notice of cancellation. 

My complaint can be summarized for these reasons : 1 ) I was told I could get a full refund and I have not.

2 ) I was told that it was not necessary for me to do anything to have the policy started. This has now been used as an excuse for not paying the refund in that somehow, I was non-compliant.

3 ) I have never received any type of policy that states coverage, conditions etc. 
4 ) XXXX seems to question if a policy actually ever existed or was filed with them. They have asked for a 10 digit policy number that may aid in their search, but I have not been able to get that information, nor do I know what the process is for filing with FEMA.