Consumer complaint received 2020-10-08 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage — 
Company: BBVA FINANCIAL CORPORATION
State: TX

Complaint narrative:
We have held a mortgage with BBVA since XXXX and in those years we have never had a payment greater than 10 days late, much less 30 days. At the beginning of the pandemic, we did not request assistance because we were confident that we would be able to maintain our payments. 

It appears that we were penalized for a late payment in XX/XX/XXXX. We were confused why insufficient funds were noted as we transfer a set amount from our XXXX XXXX XXXX  account to our BBVA account monthly to cover our mortgage statement. 

In review of bank statements, it appears that XXXX XXXX reported successful transfer to BBVA on XXXX. XXXX The day the mortgage payment was to be drafted ) but BBVA reported receipt of the transfer on XXXX. The mortgage statement dated XX/XX/XXXX demonstrated a successful transaction of a regular payment on XXXX and we never received any notice that our XXXX payment was returned for insufficient funds ( nor were we concerned as we noted a successful transfer from XXXX XXXX ). We can only assume this was due to postal issues arising from the beginning panic regarding the COVID 19 pandemic. Hence, the only time I ever noted that a payment had not been received in XXXX was when I happened to check the account online in early XXXX. At that time, I initiated an immediate transfer of funds from our BBVA checking account to the mortgage account on XXXX. 

We are now trying to take advantage of the lower interest rates and refinance our mortgage. This late payment report has prevented us from doing so. We respectfully ask that this late payment report be removed from our payment history. We had sufficient funds in both our XXXX XXXX account and our BBVA account during the month of XXXX ( except for what must have only been hours ) but somehow were not alerted to the nonpayment in XXXX. In discussion with a representative on XX/XX/XXXX, BBVA does not send notifications of nonpayments due to transfer issues, insufficient funds. 

We have tried to rectify this with BBVA. The following is a timeline of our discussions : XX/XX/XXXX : Called to dispute late payment in XXXX. Instructed to send email discussing situation regarding issues surrounding late payment, including statements showing transaction dates and funds in both accounts ( content of email above ). Email sent on this date. Told to call back in 5 days to followup on resolution and determination. Given ticket number. 

XX/XX/XXXX : Called to followup.Told by representative that another ticket number was assigned as case had to be reviewed by another department. Instructed resolution in two days and to call back. 

XX/XX/XXXX : Called to followup. Told by representative that case was still under review and would be resolved by end of day XX/XX/XXXX. 

XX/XX/XXXX : XXXX Called to followup. Told it would be resolved by XXXX this day and I would receive a phone call. 
XXXX Called to followup on resolution. Told that the above case was incorrectly labeled, not as a late payment appeal/credit dispute ( which was the subject line of my email on XX/XX/XXXX ). Two more ticket numbers given : one to request the credit dispute and one to appeal the late payment. 

In addition, we were penalized for a late auto loan payment with BBVA. Multiple attempts via phone call were made with BBVA representatives to set up autopayment on this loan as well. Most provided no assistance. During these conversations, we would opt to make a payment over the telephone. During one such phone call in XXXX, after again failing to aid in setting up automatic payments, I asked to make a car payment. I was told that it was not due until XXXX. I assumed that this was due to issues related to the pandemic, and opted to hold off and pay in XXXX. However, it appears that the representative on the phone was incorrect and that the payment was due at the time of my phone call. Thus a late charge was added on the loan as well. Through our own investigation, we determined that my husband was the only person with online access to our auto loan. He had never set up an online profile with BBVA since XXXX, when we opened the account as I have been managing the checking and mortgage account. Finally, on XX/XX/XXXX, after numerous phone calls and telephone holds, a BBVA representative was able to assist my husband in making an online profile and setting up autopayment on this auto loan. Since that time, there has been no issues with late payments. 

We have appealed to BBVA regarding both above issues, particularly as we have had no late payments in the 8 years prior to this incident, with regard to our mortgage account. It is not a coincidence that these events occurred during an unprecedented pandemic in which communication, via mail or phone, was significantly affected.

Company response to consumer: Closed with explanation