Consumer complaint received 2025-03-27 00:00:00
Product: Mortgage — FHA mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: M&T BANK CORPORATION
State: MA

Complaint narrative:
My name is XXXX XXXX. My address is XXXX XXXX XXXXXXXX XXXX XXXX XXXX. The last XXXX of my SS # is XXXX. I apologize in advance for my long-winded message, but I am in absolute shock at the discrepancy between my Loan Modification with XXXX and the way that M & T interpreted and onboarded my loan. 

My loan was transferred from XXXXXXXX XXXX XXXX M & T at the beginning of XXXX. At the beginning of XX/XX/XXXX, I was working with XXXX on my loan modification to get everything paid up to date and proceed with a reasonable monthly mortgage payment. The documentation signed, incorporated all past due balances, my overdue sewer bill, taxes, homeowners and flood. With everything rolled into the new loan amount and the overages added to the end of my principle balance, my monthly payment was {$2500.00}. The XXXX stipulation of the modification to make it active was to make my XX/XX/XXXX payment of {$2500.00}, which was paid on XX/XX/XXXX. I called XXXX on XX/XX/XXXX and confirmed that the escrow analysis and review of everything, resulted in a final and continuous payment of {$2500.00}. They acknowledged my payment and confirmed that my modification would be complete prior to transfer and that the new servicer would upload the file reflecting the loan modification with the exact terms and conditions that XXXX set forth. 

I have called M & T religiously for the past XXXX months to ensure my mortgage would reflect exactly as the XXXX modification had agreed and provided. In review of my loan a week and a half ago ( On XX/XX/XXXX ), I noticed that {$6500.00} was deducted from my principle balance. I was instantly concerned and called. I was told to sit tight and that the system just hadnt been updated. I stressed at that time, that money deducted was part of the XXXX XXXX that got added to the back of my loan to account for money owed to taxes, insurances, sewer etc. I was again told to not worry, the terms and conditions of the Loan Modification would be reflected accurately once the system updated and the onboarding was complete. I was absolutely shocked to see that my payment has gone up over {$400.00} a month when the loan modification took ALL of this into account. Something is ABSOLUTELY miscalculated, and I think the deduction of {$6500.00} from the principle balance is the problem. 

On XX/XX/XXXX, XXXX completed an escrow analysis taking into account all taxes, insurances and the past due sewer bill, showing that everything was paid and the escrow balance sent to was at XXXX ( as everything was paid through the modification ). I provided the transaction history from XXXX showing everything paid to XXXX by XXXX ( as part of the loan modification agreement and to be added to the end of the prin. balance ) including the sewer bill that was paid on XX/XX/XXXX ( M & T is now claiming that I have to have the sewer escrowed which was rolled into the loan amount of the modification ) In addition to my monthly payment now being over {$400.00} more a month, it seems the mortgage payments that I made for XXXX and XXXX according to my modification terms, is reflecting as a partial payment made for the XXXX ( I paid it on XX/XX/XXXX, M & T is claiming it was paid XX/XX/XXXX ) payment which will directly affect my credit even though both payments were made on time and in compliance with the terms set forth on the modification agreement. 

While I am sure the first response will be, M & T conducted a new escrow analysis and the payment is correct, I believe that analysis was completed based on the onboarding errors of the modification. Had the escrow analysis been done based on my current tax bill, insurance and flood, I would be paying approximately {$1000.00}. I have been trying to get in touch with anyone that can reevaluate my loan and send me a copy of the signed modification agreement from XX/XX/XXXX. I Have been told that a request was submitted for the copy of the modification, but I have not received a single phone call or email to address this large discrepancy. Additionally, every time I call I get pushed from XXXX department to the other. I stayed on the phone bouncing for XXXX hours on Monday XX/XX/XXXX. I finally got a supervisor on the phone and he gave me the email address to the " XXXX  Escalation '' department. I emailed a detailed explanation and also included information that I pulled from XXXX. I received an email back that it was sent to the appropriate department and to call Customer Service with questions. All I have done is talk to Customer service so clearly, they pushed my dispute back to the people who have no authority to do any type of resolution. They then promptly sent an email that my ticket has been resolved. I am asking to please do a full review and research on my account, as the loan modification was specifically applied for to get everything balanced, paid and provide a feasible monthly payment. 

I should also mention that when XXXX did my escrow analysis, they were using forced placed insurance. I sent my insurance XXXX page showing that my insurance is XXXX less than what they used, so ultimately my payment should be adjusted to even LESS than the {$2500.00}. 

In short, my modification covered and paid for all outstanding discrepancies, with the balance added to the end of the principle balance. My escrow balance coming out of XXXX was at {$0.00} when sent to M & T. The deduction of {$6500.00} from my principle balance should not have happened as that was funds used to cover all outstanding balances. Additionally, my escrows should only be reflecting taxes ( appx $ 5100 yearly - not including the sewer bill that was past due and paid through the modification ), homeowners ( {$2100.00} - not the {$3600.00} M & T is claiming ), flood insurance of ( {$1600.00} ) which aligns with the XXXX analysis done through XXXX on XX/XX/XXXX. ( They stated {$1000.00} which included forced placed insurance ). I have spoken with the XXXX of XXXX to confirm what my yearly taxes are. They confirmed that it is roughly {$5100.00} and will be mailing me an XXXX. 

I kindly ask that you review my file in its entirety, taking into account the information received from XXXX, the Modification Agreement from XX/XX/XXXX and my insurance company. While I can understand an escrow analysis raising ( or lowering ) a monthly payment, this was not done correctly at onboarding and is forcing a duplication of payments on my end and in drastic contrast to the modification. I would also like my account to reflect my mortgage payments correctly. I paid the agreed upon {$2500.00} on XX/XX/XXXX to cover the XXXX payment and I paid the agreed upon amount of {$2500.00} on XX/XX/XXXX for the XXXX payment ( I waited a couple of days in the hopes that they would have completed the onboarding ... ..they did not ) Now my transaction history is showing that I made a partial payment on XX/XX/XXXX. 

I should also mention that I called XXXX on Monday, XX/XX/XXXX in an effort to get them to communicate with M & T bank, but they informed me that they have nothing to do with my loan anymore... ..yet they were the ones that worked through this modification, so in my mind they would be the EXACT people to help M & T onboard correctly.

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