Consumer complaint received 2020-11-02
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: FIFTH THIRD FINANCIAL CORPORATION (MI)

My complaint is against Fifth Third Mortgage ( 5/3 ). I readily admit and accept responsibility that it was my error in overlooking the {$10.00} increase in my monthly mortgage payment effective XX/XX/XXXX. The generic robo calls and financial hardship information I received I thought was just 5/3 advertising options in case I was having financial hardship, given the uncertainty of the pandemic. I assumed all 5/3 customers were receiving the same since these correspondence were not specifically addressed to me or identifying me or my mortgage. Looking back, I fear 5/3 may have been starting the process of foreclosure, rather than contacting me directly about the ( consistent ) discrepancy in my monthly payments. I know 5/3 is capable of notifying me of insufficient and misappropriated payments because I received at least one mailed letter when they took over my mortgage from my previous mortgage company. In this incident, 5/3 had told me they offered biweekly mortgage payments and even sent literature informing me of how seamless the transition from my previous mortgage company to theirs would be and how nothing in the servicing would change. But it did when 5/3 would not process my biweekly payments and their 'system ' ( per their representative ) didn't know what to do with any payment amount that was not the identical amount to my monthly mortgage payment. ( Please see also my complaints filed XX/XX/XXXX with the Consumer Financial Protection Agency # XXXX and on the same date, with the Federal Trade Commission, reference # XXXX referencing this incident, among others. ) I can not express the continued stress, frustration, lack of trust and confidence I have in 5/3 and their ability to effectively manage my mortgage including applying payments appropriately and notifying me of any payment shortages. I have lost productivity at work, money, and personal leisure time due to repeatedly having to speak with multiple 5/3 individuals at various levels and formulate these multiple written complaints. I have multiple escalated cases with 5/3 and again, have another open case with their Office of the President. I have requested 5/3 transfer my mortgage to another mortgage company who can effectively manage my mortgage and honors biweekly payments ( without me having to call or specifically designate how I want these payments applied to my mortgage ). 5/3 said they would not transfer my mortgage elsewhere, and to leave them, I would have to refinance with another company which would obviously cost me more money and more of my time. I am not a mortgage expert. I rely on my mortgage company to be experts in mortgage management and expect and trust they will apply my payments appropriately and notify me of any problems and concerns. 5/3 has my home address, phone number ( that has active voicemail ), and email to contact me. They failed to inform me of my error in sending monthly mortgage payments {$10.00} less than I should be until 8 months later. At that point, they sent me a letter assessing me a late fee ( which they later removed at my repeated urging ) stating they didn't receive my XX/XX/XXXX mortgage payment when they actually did. But suddenly after 8 months of accepting the shortage, they would no longer accept it. I am set to receive my escrow reconciliation any day now. I can't wait to see the extent of how overdrawn my escrow is because they were paying my monthly shortage from my escrow. 

I sent 5/3 a copy of the attached letter via certified mail which they received and sent me a letter dated XX/XX/XXXX stating they would investigate my complaint within 25 days. For my original complaint, they took 55 days to investigate and address it but because they failed to address it, I now have complaints about their handling of my compliant ; they just keep multiplying. 

I am not taking any chances this time, hence forwarding my complaint to the CFPB. Again, it was my error and oversight in not sending the {$10.00} increase in my monthly mortgage payment. But there is no acceptable excuse as to why 5/3 did not immediately personally notify me, and rather, use generic computer generated calls/voicemail and printed hardship/potential foreclosure information instead. I appreciate your time and attention to this matter.