Consumer complaint received 2024-03-04
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: M&T BANK CORPORATION (TX)

Dear cfpb : I am writing this letter in hopes that our account can be settled after a more indebt review of our account and payments made. We have contacted M & T Bank no less than a dozen times, as noted below. Each time we contacted M & T Bank we were given a different explanation, each time with absolutely zero resolve. Every person, short of one individual, was very corrigible but could not explain why the numbers do not match the account. To summarize what has been transpiring since XX/XX/XXXX, I have added the disputed information below. 

Dispute XXXX XX/XX/XXXX M & T Bank XXXX who services my mortgage for the property listed above, sent me a Projected escrow statement for the next 12 month. To my shock, this statement revealed that my Escrow was ( XXXX ) and that the projected for the year would be {$11000.00}. The difference, {$20000.00} represented the amount needed in our escrow account and would be spread over the next 12 payments. 
My first call was to M & T Bank and Talked with XXXX, after an hour talking with her with zero resolve nor explanation of why I was behind in our escrow, she passed me along to XXXX in the escrow department. XXXX XXXX stated that they pay the tax bill that is/was sent from XXXX XXXX XXXX XXXX district. I asked why M & T Bank did not foresee that our escrow was inadequate? On the M & T Bank XXXX under our account, if shows the median home valuation at the top of the webpage, one would think the escrow department would evaluate these numbers closer. The value and the escrow amounts would be obviously inadequate. 
On the same day I contacted M & T bank, I also called XXXX XXXX XXXX XXXX about our shocking escrow numbers. I talked with XXXX at XXXX XXXX stated our house was built in XXXX, XXXX XXXX was behind, plus we had filed a property tax appeal in XXXX with XXXX XXXX XXXX offices. Because of that appeal, XXXX XXXX being behind, and M & T Bank not being diligent with auditing their customers account in a time of quickly rising property prices, the taxes are now much higher than years past. 
The new projected payments, to cover the escrow, were now going to be {$4400.00} from {$1900.00}, that was an increase of {$2400.00} a month difference starting on XX/XX/XXXX. 
My wife and I have immaculate credit, we usually always pay more on any bill monthly, including with M & T Bank, {$100.00} a month more to principle. When we built this property, we put 50 % plus down, to suddenly be behind on tax/escrow was not acceptable to my wife nor myself. On XXXX we initiated and completed a bank-to-bank draft of {$10000.00} to M & T for the escrow delinquency ( XXXX ). 
XXXX we completed another {$5000.00} to M & T Bank via bank-to-bank transfer, this was now a total of {$15000.00} paid toward the amount of {$20000.00}. We now were only ( XXXX ) away from being caught up. 
XXXX we received a letter from M & T Bank stating that we were behind on our mortgage payments, stated we had only made partial payments and that any unapplied funds will not be applied until your loan has been brought current The letter also covered they had the right to foreclose?! 
XXXX we reached out to M & T Bank to find out why we received this letter. XXXX only had we been paying the monthly mortgage ; we had also paid an extra {$15000.00} toward the escrow in the months of XXXX and XXXX. On this call I talked with XXXX XXXX XXXX explained to her the situation, we had paid $ XXXX of the $ XXXX toward the escrow and had been continuing to pay the normal payment ( plus the extra {$100.00} to principle ). She saw the discrepancy, made notes and said she would pass the information along to the escrow department and I would be hearing back from M & T Bank soon. 
XXXX direct bank-to-bank transfer of {$5000.00} was made from our account to escrow at M & T Bank XXXX this now XXXX our total bank-to-bank transfers for escrow to {$20000.00}. Looking at M & T Bank online dashboard, the {$20000.00} plus the normal payments during XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX, mortgage payments, the Escrow was now {$23000.00}, we overpaid escrow now by ( XXXX ) XXXX we received another notification from M & T Bank, it this letter was a new Projected Escrow Payments for the next 12 months This statement had our new mortgage payment of {$2700.00} would be started beginning XXXX. Included in this newest statement/letter was a surplus of funds in your escrow account for {$2400.00}. This letter had a refund check for this overpayment in the amount of {$2400.00}. 

XXXX We received another letter from M & T Bank stating that we had unapplied funds for XXXX. I knew the payments were increasing on XX/XX/XXXX, but we started paying the new amount a month early ( XX/XX/XXXX ). Once again, we called M & T Bank for an explanation. XXXX XXXX She explained that she did see the two extra direct bank-to-bank transfers in the amounts of {$10000.00}, {$5000.00}, {$5000.00} into the account. She also stated she through the problem was that M & T Bank XXXX update and recognize what I am doing. We have been continuing to pay the Principal and Interest ( plus extra principle ) plus three large payments to XXXX. She believed the system still sees the mortgage payments as delinquent. Once again, a note was taken by XXXX and we would be notified soon by M & T Bank. 

XXXX We, once again, received a letter from M & T Bank that we were still delinquent in our mortgage payment ( XXXX ) and that M & T Bank had the right to foreclose XXXX the property. I call once again to find out why we are still receiving notifications about this problem, we thought we had resolved the problem many times up to this point. During this call we talked with a supervisor named XXXX, over the next XXXX hours, I explained the problem while she looked over the old notes and payments. After an hour and a half, I asked to speak with a XXXX, we need answers to this problem. The mangers name was XXXX, for another hour she did the same as all the other customer service reps before her, looking over notes, numbers, and payments. We reviewed with her all the information from the beginning to present. After an hour of discussion, she stated that I should have paid the payments in the way M & T Bank wanted and not the way we wanted to pay. She stated that M & T Bank showed I had a total of XXXX late payments of {$70.00} a piece for a total of {$280.00} and that I still owed {$1600.00} on our XXXX payment. Stated when they sent that refund check, the computer system considered I was going to pay a {$4400.00} payment for the month, even though I had paid the total escrow amount in two months instead of the full 12 months. According to XXXX XXXX, M & T bank system would hold any money/payments coming in until the {$4400.00} amount was satisfied. So that met why I was making the {$2100.00} and {$2800.00} payments, the M & T Bank would add those amounts up until the {$4400.00} was met. So, because of this system, I acquired numerous late/delinquent amounts on our credit, and I owed money back to M & T Bank XXXX their system didnt adjust for the XXXX large amounts injected into escrow. I agreed to pay the $ XXXX to stop this terrible process M & T Banks system was/is causing us. When I asked that M & T Bank to please correct these late fees and send a correction to credit reporting agencies, I was told not their problem, should have paid it the way they wanted, and Not our policy to correct credit reporting issues. 

XXXX New Notice from M & T Bank that states we currently have unapplied funds in the amount of {$99.00} ( this is because I paid {$2800.00} instead of the {$2700.00} amount ) Notice once again states we are short {$2600.00}, states we are supposed to be paying the {$4400.00}. That amount was supposably cleared up on the XXXX call to M & T Bank. 

XXXX XXXX M & T Bank at XXXX pm and talked with XXXX, asking again, why do we still show to have a unapplied funds and delinquency of {$2700.00}? After an hour and a half of XXXX resolve, I was passed onto XXXX, after XXXX minutes with XXXX, we were disconnected. I called back at XXXX pm and talked with XXXX ( XXXX ) who worked with me until almost XXXX stated she would half to get back to me after the weekend and the Monday holiday. She stated there were a lot of numbers to look over and it would take a day or XXXX. ( she never contacted me via cell nor email ). 

XXXX New letter from M & T Bank once again stating that I am now behind on XXXX payment because the escrow was not paid in full. I paid the whole escrow delinquency between XXXX to XXXX. ALL payments have been paid, ALL escrow payments have been paid and yet constant letters and foreclosure warnings from M & T Bank. 

XXXX M & T Bank dashboard XXXX sheet shows I am behind on XXXX along with XXXX, no payment has ever been late. The M & T bank XXXX sheet shows an amount of {$2800.00} in a suspense account The amount of the missed payment is {$2800.00}, so there is an extra {$99.00}. The escrow amount to this date is approx. {$3000.00} more than it should be as well. 

I hope this situation can be resolved quickly and accurately. We are asking that this account be looked at more closely, I have the XXXX spread sheet, from M & T Bank, and my numbers do add up, we believe this situation can be corrected with the right person ( XXXX ) looking at all the information stated above. We are not sure if this is a problem with technology or fraudulent and unethical behavior of M & T Bank. We have very detailed documentation ; this whole situation is causing us undue duress and hope you will be able to help resolve the problems. 


Thank You for your time! 

I have very detailed payment and banking information as well, but it has very delicate banking information and can send as needed.