Consumer complaint received 2026-02-12 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Payment process
Company: M&T BANK CORPORATION
State: NJ

Complaint narrative:
M & T Bank ( PrincipalOnly Payment, Suspense Account, No Response to Requests ) Summary of the Issue : M & T Bank failed to respond to multiple service requests, mismanaged a principalonly payment, held a {$12000.00} payment in a suspense account for seven days, and ignored my request to open a payment research case. 

On XX/XX/XXXX, I contacted M & T Bank because my monthly loan payment had increased due to a rise in my property taxes. I needed assistance adjusting my automatic payment amount, as I was unable to modify it myself through the online system. At the same time, I also needed to make a {$12000.00} principalonly payment toward my loan. 
I submitted multiple service requests through my online M & T account ( at XXXX ) asking for help with both issues. No one responded to any of my messages. 
Because I received no assistance, I called M & T Bank on XX/XX/XXXX to report that none of my online requests had been answered. During that call, I made a payment by phone to cover the increased tax amount. I also instructed the loan representative to process an additional {$12000.00} principalonly payment. 
I specifically asked the representative to repeat my instructions back to me to ensure the payment would be applied exclusively to principal, and he did so. He assured me that the principalonly payment would post within 24 hours.

However, instead of being applied to principal as promised, the {$12000.00} payment was placed into a suspense account, where it remained from XX/XX/XXXX through XX/XX/XXXX XXXX days. During this time, I submitted five separate online requests asking M & T Bank to release the funds from suspense and apply them to my principal balance. None of these requests were answered, and no action was taken.

In addition, I specifically requested that M & T Bank open a payment research case to investigate why my {$12000.00} payment was being held in suspense for so long. Despite this request, no case was opened, and no one from M & T Bank contacted me or addressed my concerns. 
Today is Thursday, XX/XX/XXXX, and the {$12000.00} payment still has not been properly applied. I have received no explanation, no confirmation, and no resolution from M & T Bank.

What I Am Requesting I am asking the CFPB to assist with the following : Ensure M & T Bank properly applies the {$12000.00} payment as a principalonly payment, as originally instructed Require M & T Bank to explain why the payment was placed in a suspense account for seven days Require M & T Bank to explain why no payment research case was opened despite my request Require M & T Bank to address why multiple online service requests were ignored Ensure my loan account is corrected and updated accurately Review whether M & T Bank is complying with servicing standards and timelyresponse requirements

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation