Consumer complaint received 2017-09-13
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process — 
Company: EVERBANK, NATIONAL ASSOCIATION (CA)

This is regarding EVERBANK LOAN NUMBER XXXX ( HELOC ) for XXXX XXXX and XXXX XXXX. 

We closed on this loan in XX/XX/XXXX. As part of the terms of the loan, we could draw an additional amount on the loan beyond what was used for downpayment. The loan has been in good standing since close of escrow. 

In XX/XX/XXXX of XX/XX/XXXX we needed to draw on our remaining funds from the HELOC and initiated a wire. A wire transfer form was sent to us. As the form contained some ambiguity, I made a phone call and was transferred ( on a recorded line ) to a HELOC specialist. This call took place on either XX/XX/XXXX or XX/XX/XXXX. I requested that the associate walk me through the form. In fact, even after our first phone call, there was some ambiguity about address ( bank or homeowner? ) so I initiated a second call ( also on a recorded line ). During one of these calls, I specifically asked about transferring funds from this jointly held ( myself and my husband ) loan to my SOLE checking account. Her response was that it was not a problem, as long as ONE of our names was on the checking account. In fact, she put me on hold while she went to inquire about this. I then submitted the form with both of our IDs that day ( government issued IDs were requested. ) Several days later either myself or my husband were called and informed that my husband must provide a letter that it is ok that these funds be sent to my sole account since he is joint borrower. We inquired about why we were told differently during our first phone call, but were not given a clear answer ( again on a recorded line. ) He sent the letter promptly the same day. We also requested that we be contacted by email, but the associate, XXXX XXXX, stated that Everbank does not communicate by email. Prior to hanging up the phone, he confirmed that all else in the file was complete. 

Several days later, again, I was contacted and told that I had to submit my passport. I informed them that I had provided the required government ID, my Driver 's License. They stated that this was inadequate. They stated that since I opened the loan with a passport, I had to always provide a passport. I then emailed XXXX XXXX and inquired to see a company policy stating that this was the case. I then received a phone call from a supervisor who again informed me that Everbank does not communicate by email. She also stated that I needed to be cooperative if I wanted my wire. It was becoming obvious that Everbank was establishing delay tactics for releasing our monies. We did not have checks readily available, so a wire was our only option. 

I sent my passport to XXXX XXXX on XX/XX/XXXX, as instructed. I never received a response. Anticipating that the wire was being processed, I waited several days and called again to get the status. On either XX/XX/XXXX or XX/XX/XXXX, I began calling Everbank to affirm that the wire was going to be sent. I was told that since Hurricane Irma was moving in, the emergency team was in place, and that the regular staff was not available. I was routed to " XXXX '' who did not have access to my passport which I had sent. At this time I was out of town and could not easily retrieve the file which I had previously sent. On Friday, I again called and was told that they could not retrieve the information which I had sent, and that they did not have access to XXXX XXXX 's files. On Monday XX/XX/XXXX, I called early in the day and was told all was well and they were processing the wire, and that it would be sent out by COB that day. Mid-day Monday ( XX/XX/XXXX ) I again received another phone call stating that they did n't have my passport, because they could n't " retrieve it '' from their system due to the storm. They stated they did n't keep their documents in one place. I was asked to be patient given the weather conditions. 

I immediately resent my passport. On Tuesday XX/XX/XXXX I called Everbank again and was again told the wire was processing. I demanded to stay on the line until the money was wired to my XXXX account. This took just under an hour. 

It took from XX/XX/XXXX ( when I was told I was compliant with submisison of my documents ) until XX/XX/XXXX to receive my wire - for which I have a promissory note entitling me to these funds. This is excessive and suggests deliberate delay in release of funds. Review of conversations which were purported to be on a " recorded line '' should be reviewed.