Consumer complaint received 2020-09-09
Product: Mortgage — VA mortgage
Issue: Trouble during payment process — 
Company: M&T BANK CORPORATION (TX)

We had a water damage claim on XXXX and part of our insurance checks included our mortgage company ( M & T Bank ),  so we mailed the two checks along with the XXXX XXXX claims repair estimate ( overnight with a prepaid overnight envelope to expedite the return of the funds ) for {$1700.00} and {$13000.00}, so they could endorse them and return them to us, so we could pay our contractor to make the repairs. They sent us the endorsed checks and no other forms were needed, I even called to verify. It seemed simple, even though we had to go out of our way to send them the checks ( the adjuster said most mortgage companies are not requiring this right now due to COVID, but for some reason, this company is ). 

When our contractor was finished with the repairs, we notified our insurance company, so we could obtain the additional funds for depreciation, which is an additional {$6300.00} ( which also has the mortgage company listed as payee ). We sent the check 2 day mail once received on XXXX, thinking it would be returned in quick manor like the two previous checks. 

I received a text notification that documents were received by M & T bank on XXXX. I checked and nothing was mentioned about the check, so I called on XXXX and was notified I needed to have my contractor sign a few documents, and they needed a copy of the contract signed by the contractor, my husband, and myself. This was NEVER mentioned before when they returned the two previous checks ... that document notification was turned off, so I did not bother to get those documents signed. And we did not receive any text notifications, emails, or phone calls saying these documents were missing. The lady had no remorse and said it is what it is, because now our claims is over {$20000.00} ( side note ... it has always been over that amount ). Unacceptable business practice! 

The work is now complete ... we had to get a loan from our credit union to finish paying our contractor, because M & T Bank will not release the {$6300.00} that they are listed as a joint payee on, from XXXX XXXX ( the check is endorsed to XXXX and XXXX XXXX, and M & T Bank ). 

I found the forms and had our contractor complete what was needed, and we signed the original contract ( as per request from the phone conversation with M & T Bank on XXXX ), and attached them to the link that was shared with us on XXXX. 

We received a notification that they received the documents, and when I checked the status, the documents were denied. I immediately called their customer service number at XXXX CT tonight and a was being helped by XXXX XXXX She was reviewing documents and during this time, and said something was missing. I explained the work is complete, our contractor completed the waiver and shared is Tax ID details, and all parties have signed the contract. She said it had something to do with how their system was reading the documents. I asked what I needed to do so they could release our funds and the phone call ended. In the beginning, she verified a good call back number, so I expected her to call me back, but it has been 30 minutes and I have not received another phone call. They closed at XXXX ET ... 

M & T Bank is holding our funds hostage for no reason. The repairs are complete and we need this check endorsed by them and immediately returned to us. 

This process with them has been a nightmare these past two weeks. Please help us! Thank you so much!!!