Consumer complaint received 2017-01-13
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Loan servicing, payments, escrow account — 
Company: CITIZENS FINANCIAL GROUP, INC. (MI)

I am writing to day to express my extreme displeasure with the Payoff Letter procedures at Citizens One. I refinanced my home XX/XX/XXXX and the payoff balance quoted by Citizens did not cover my entire loan balance when funds were received. All I want is my loan to be paid in full and not feel as though I have been cheated. 
XX/XX/XXXX - request for a payoff letter received by Citizens One. The letter specifically stated Principal, interest, amount to pay off the loan, and fax fee ( {$15.00} ). 
XXXX XXXX - Citizens pays Hazard insurance. Per my copy of the bill sent to Citizens the bill was dated XX/XX/XXXX. My policy was enforceable through XX/XX/XXXX. 
XXXX XXXX - My husband and I close our new loan, closing was performed by a title company. 
XXXX XXXX - funds are released due to the 3 day right of rescission period and holidays. We received our funds on this day. 
XXXX XXXX - I contacted my insurance agent to see if my hazard insurance had been paid. They said no. 
XXXX XXXX - I received a call from my agent the next day stating the insurance was paid. 
XXXX XXXX - I tried to log into Citizens website but got locked out and discovered customer service department does not operate on weekends, no calls and no system support. I called the automated line and followed the menu to my current payment amount and was told that a payment of {$1100.00} was due as of XXXX XXXX, this amount is my normal payment plus the escrow shortage. 
XXXX XXXX - I called Citizens and was told that they had been trying to reach the title company/closing agent but their calls had not been returned. I was never contacted. It was then explained to me that my payoff was short and that they were now charging interest on the difference. The customer service rep said she could not waive the interest but would escalate my complaint to a supervisor leaving me with the impression that the supervisor had the authority to waive the interest XXXX XXXX - On the morning of XX/XX/XXXX, a Supervisor returned my call, stated that I could ignore the collection call that I received ( I never received a collection call ) and that she could not waive the interest. I stated once again I would not pay interest on an escrow shortage and if it was necessary I would file a complaint with the Office of the President, OCC and CFPB. The supervisor seemed to key in on the CFPB organization and escalated my complaint to their Office of the Chairman. 
XXXX XXXX - My auto payment of my mortgage went through for XXXX. I have not heard from the Office of the Chairman today, maybe tomorrow. 
XXXX XXXX - I did not hear from the Office of the Chairman today. I checked on line my loan did not show it was paid in full. 
XXXX XXXX - I pulled my loan up and found that Citizens applied my payment and payoff funds. Citizens also then charged me interest for XX/XX/XXXX ( XXXX ) and collected a {$15.00} fee for something. Just so everyone knows it is XXXX XX/XX/XXXX and I have not heard from anyone at Citizens. 
If a payoff letter is good for 10 days then the bank should stand behind it or put proper internal controls in place to ensure that the borrower is notified when a subsequent transaction has taken place. Citizens One needs to enhance their operational controls so that the disclaimer on their payoff letter is not so one sided ( the Bank benefits ).