Consumer complaint received 2015-08-11
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Loan servicing, payments, escrow account — 
Company: ZIONS BANCORPORATION (UT)

I got a loan through Zions Bank here in Utah for a construction loan everything went smoothly. I started making payments to Zions Bank and everything was going great until XXXX of 2015. We noticed that our payment had n't come through on Zions Bank bill pay by by the XXXX of XXXX. I started calling Zions Bank to find out what the issue was and whyour payment was not showing. After hours on the phone we found out that our loan had been sold to XXXX. Our payment finally came through on XX/XX/XXXX but we did n't find out from Zions until XX/XX/XXXX what had happened. Our loan number had changed due to the selling of our Loan to XXXX. 
The issue I have is that our bills that were coming from Zions Bank never changed, they came in the same envelope and addressed to Zions Bank. We never saw anything that said our loan had changed hands and that we had a new account number. Everything on the bill was identical to all the other bills we had already received for three months. Still the same bill comes from Zions Bank as if they are holding our loan. We had our XX/XX/XXXX payment that was sent out before we found out that there was a new loan number issued to us. So again, our XX/XX/XXXX payment did n't show up until XX/XX/XXXX. Luckily after a lot of phone calls they refunded our late fees and guaranteed that we our credit would n't be affected. After we changed the account number on our online bill pay we sent our XXXX payment thinking finally everything is fixed. Nope! Our payment was taken out on XX/XX/XXXX from Zions Bank, but instead of sending it like all the other checks in a Billpay Check it was sent from Zions Bank in a ACH but of Course Cenlar could n't locate the payment. I spent over 8 hours in XX/XX/XXXX trying to locate this XXXX payment and no one, I mean no one could find out where this payment had gone. I finally asked Zions Bank to retract the payment and I made a payment over the phone this morning over the phone to XXXX for our XX/XX/XXXX payment. PS I sent a paper check from my account to see if it would get screwed up for my XX/XX/XXXX payment and they had already received it for XX/XX/XXXX when I called this morning. 
The issues I can see is that Zions Banks name should not show up on a statement if they are not servicing the loan. I should of had something that stood out that said our loan number had changed and this is who would be servicing my loan. I should of had something from XXXX stating that they were taking over my loan and provided my new loan number. I think this is deceitful acts by both companies and that this should end immediately. The other issue is that Zions and XXXX Both said my credit would not be tarnished and I will be checking it soon. If it is I would like directions on how I can sue both companies for this. 
I cant stand Zions, and will be moving my accounts. I cant stand XXXX and I have only been with them for 3 months. I also got a cancelation notice from my Mortgage Insurance company showing non payment ... hmmm guess who had to clean that up too? Is n't this what they get paid for? XXXX is horrible and they should be fined with all the other complaints I am seeing online. If you the consumer protection agency does n't protect us from these XXXX who do we go after? You the consumer Protection agency? Do something about these horrific practices. I am never getting my 8 hours back from last month and I am thinking if my credit gets wrecked you wont do anything about that too?