Consumer complaint received 2019-04-17
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: CITIZENS FINANCIAL GROUP, INC. (RI)

I refinanced my mortgage with my existing mortgage company ( Citizens One Home Loan ). 

My refinance closed in XXXX, which was almost one month before my original loan insurance policy was to renew for {$1800.00} on XX/XX/XXXX, which has always increased slightly year over year. I say this because the just paid the old policy amount of {$1700.00}. 

I find this very concerning as no mortgage company should be paying out a previous year policy with out confirmation from the insurance or an updated policy coverage date. 

The lender sent me a letter stating I didnt have insurance on XX/XX/XXXX, but paid the old premium amount at renewal time. Then I got a letter saying I was all set, which is not uncommon during a refinance with and up coming insurance renewal. However I was not aware of the insurance issue at this conjuncture. 

My insurance company had been requesting payment from the lender or their vender for the balance of {$100.00} ( difference between old policy amount versus the renewal amount ) and no response or payment was received by the lender or vendor. 

After 30 days my insurance company cancelled my policy and refunded me a prorate amount, which thought was a refund from my old escrow account as it was just a check and no letter. 

In XXXX, I need to have some auto policy adjustments, which is when I found out that I didnt have insurance. 

I immediately reinstated my policy, but at a much higher amount due to the gap in coverage of {$2200.00}. 

I sent my lender a secure email stating what had happened and the insurance was now back in place ... this was on XX/XX/XXXX. Based on my email, they then forced insurance for {$3100.00}, which was paid on XX/XX/XXXX, despite the fact I made them aware of the issue and the reinstatement as of XX/XX/XXXX. 

I called three times and with each call/complaint I explained my situation ... the response has been we see and will fix this. 

The only action the lender did was refund my escrow for a prorate amount of the forced insurance and never reached back out to me as agreed upon. 

I called again today ( XX/XX/XXXX ) and was told they would not refund the remainder of forced policy and it was my issue with my insurance increase due to the time lapse. 

I then asked when the first letter was sent to me about my insurance lapse and was told it was XX/XX/XXXX and by their policy they force place 60 days from the first letter date previously noted. Clearly that was not what occured, considering they didnt force place until my secure email to them on XX/XX/XXXX. So well beyond the so called 60 days. 

So ... they arent taking any responsibility of ensuring a refinance closed properly and when I asked why the insurance was forced placed well after the 60 days I was told it was for the customers benefit, but does not line up with their policy and creates additional costs to the borrower. 

So I ended up paying {$350.00} more than my renewal amount and then had to pay {$760.00} in prorated forced insurance. 

I dont know how banks can just get away with this .... if I hadnt refined, then none of this would have occurred and sadly it was a same bank refinancing my mortgage. 

I have been out of work due on an official temporary XXXX and protected class illness ( XXXX XXXX - XXXX XXXX ). Im struggling as it is and this happens. 

Please look into this, even if I get no benefit from this complaint, I dont what this to ever happen someone else by Citizens One Lending aka Citizens Bank.