Consumer complaint received 2019-10-02
Product: Mortgage — Conventional home mortgage
Issue: Closing on a mortgage — 
Company: ATLANTIC UNION BANKSHARES CORPORATION (VA)

Good evening. 

Quick Background story, I sold my home at XXXX XXXX XXXX, XXXX, VA XXXX on XX/XX/XXXX. 

In preparation of the sale of the home, I called my Lender - Atlantic Union Bank - on XX/XX/XXXX at XXXX XXXX to ask them to please put a stop on my Mortgage Payment due to the fact that the house will be sold and the Mortgage paid in full on XX/XX/XXXX. The Representative looked up my account and advised that they will not be able to stop the payment, that I would have to contact my Financial Institution in order to stop the payment. I then advised that I will contact my Bank and that the XXXX Mortgage payment will not be made. The Payoff requested was good through XX/XX/XXXX to give it a few extra days in case of a slight delay to ensure there will be no short Payoff balance. The Payoff was provided by the Lender XXXX. The Loan closed and funded as expected XX/XX/XXXX. I received an email from the Settlement agent handling the Transaction on XX/XX/XXXX that Atlantic Union Bank had reached out regarding owed funds, explaining that the Payoff amount was short by {$650.00}. I called and emailed Atlantic Union the same day ( XX/XX/XXXX ) to inquire as to why the Payoff was short as it was good though XX/XX/XXXX. I was told that they had accounted for the XXXX Payment to post and this said Mortgage payment was included in the payoff balance. This was news to me as I had taken all necessary steps to ensure that the Bank was aware that no Payment will be made for XXXX due to the sale of the Property. 

Since XX/XX/XXXX have I been in constant communication via phone and email, working on finding a solution as soon as possible. Today, the Consumer Relations Department advised my Bank contact ( XXXX XXXX XXXX, Loan Services Supervisor at Atlantic Union Bank ) who then reached out to me via email and phone, that there will no Resolution and that the full amount is due. 

The Sales price of the home was determined heavily by the Payoff provided by Atlantic Union Bank plus a very small cushion to include closing cost. I sold the home $ XXXX under value, all I asked is to walk away without having to bring any money to the table. Had I been aware of a higher Payoff amount, the Buyer would have paid the additional sum. 

Due to Atlantic Union Bank 's fault am I now liable for {$650.00} and I don't think that is fair. I have explained all of this in great detail via phone and in writing and can document the numerous conversation. Regardless of the facts, the Bank was not willing to work with me and take accountability for their mistakes. For over a week have I now been trying to get this resolved. 

The Banks excuse that the Settlement agent failed to call the day of closing and that the funds are therefore due are a feel good statement. The Payoff was good until 4 days past closing, no Settlement agent calls the bank the day of closing to confirm accuracy of balance unless a payoff has been expired ( and even then, the per diem is listed on the Payoff in question ). And the Solution to apply my overage Escrow funds to apply directly to the Payoff difference is not a solution in itself as the Escrow overage are funds due back to me as this was already paid by me and doesn't justify or correct the error on the Banks part. 

Thank you for your time and assistance in getting this resolved.