Consumer complaint received 2024-11-10 00:00:00
Product: Mortgage — FHA mortgage
Issue: Closing on a mortgage — Closing disclosure or other related disclosures
Company: M&T BANK CORPORATION
State: AL

Complaint narrative:
Complaint 1 : MERS Inactivity and Demand for Validation Complaint Overview This complaint addresses M & T Bank 's inactive status in the Mortgage Electronic Registration Systems ( MERS ) despite collecting payments for over XXXX years. This inactivity raises significant concerns regarding M & T Bank 's legal standing and authority to collect payments, and it follows issues outlined in prior demand letters dated XX/XX/XXXX, and XX/XX/XXXX. 
Details of Complaint XXXX. Lack of Standing and XXXX XXXX M & T Bank 's inactive status in MERS violates transparency requirements under federal statutes, including TILA ( Truth in Lending Act ), RESPA ( Real Estate Settlement Procedures Act ), FDCPA ( Federal Debt Collection Practices Act ), and FCRA ( Federal Credit Reporting Act ). This lack of transparency clouds the title and deprives me of my right to know the legal holder of the mortgage and promissory note. 
2. Request for MERS Milestone Report I am requesting a full MERS Milestone ( MAL ) report under the Qualified Written Request ( QWR ) provision, detailing all transfers of the mortgage and promissory note to validate M & T Bank 's authority as the servicer and establish its legal standing.

3. Ongoing Financial Burden The financial impact of these actions is substantial, with payments expected to continue through XXXX. Payments to an unverified servicer have caused financial hardship and distress, affecting trust resources and stability. Due to M & T Bank 's inactivity in MERS and lack of required settlement disclosure, I have incurred financial losses, including increased payments and higher interest rates. 
4. Emotional Distress Calculation To quantify emotional distress, I assign a daily rate of {$100.00}, beginning from the onset of hardship on XX/XX/XXXX, amounting to approximately XXXX days to date : Calculation : {$100.00} ( daily rate ) x XXXX ( days ) = {$100000.00}. 
This reflects the emotional and ongoing distress directly resulting from M & T Bank 's actions and inactions. 
5. Unjust Enrichment and Bad Faith Since the closing date of XX/XX/XXXX, I have tendered payments in good faith, expecting proper handling and documentation. M & T Banks failure to provide essential documentation jeopardizes my financial standing and suggests unjust enrichment and potential bad faith. The ongoing collection without validated legal standing benefits M & T Bank unjustly at my expense. 

Resolution Requested I request immediate restitution based on the following monthly calculation of {$940.00}, totaling approximately {$45000.00} over XXXX years : XXXX Total : {$11000.00} XXXX Total : {$11000.00} XXXX Total : {$11000.00} XXXX Total : {$11000.00} Additionally, I request XXXX XXXX M & T Bank 's standing through a MERS Milestone report, relief from future obligations under this loan due to violations and lack of transparency, and emotional distress compensation totaling approximately {$100000.00}. 



Complaint XXXX : Settlement Disclosure Provided After Closing Complaint Overview This complaint concerns M & T Banks failure to provide a required settlement disclosure until after closing, in violation of my rights under TILA, RESPA, and FDCPA. Despite this documents omission by the original lender XXXX M & T Bank, as the current servicer, is responsible for providing it under the Qualified Written Request ( QWR ) provision. I am formally requesting complete copies of all closing documents related to my propertys mortgage on XX/XX/XXXX, as required. 
Details of Complaint XXXX. Violation of XXXX XXXX M & T Banks failure to provide a timely settlement disclosure impacts my right to understand loan terms, informed consent, and protection from unauthorized collection practices. As the mortgage servicer, M & T Bank must ensure I receive the necessary settlement closing document under my QWR. 
XXXX. Financial and Emotional Damages The absence of this disclosure has caused substantial financial losses, credit denials, increased loan and insurance rates, and compounded financial obligations. Additionally, these actions have led to significant emotional distress, affecting trust resources, peace of mind, and well-being as I navigate these unresolved issues. 
XXXX. Unjust XXXX and XXXX XXXX M & T Banks failure to provide required disclosures and continued collection of payments since closing suggests bad faith and unjust enrichment. Despite acting in good faith by making payments, M & T Banks failure to disclose has benefited them at my expense. 
Resolution Requested I request immediate compensation of approximately {$25000.00}, calculated as follows : Emotional Distress Compensation : An estimated {$10000.00} for prolonged distress due to credit denials, financial strain, and collection activities resulting from M & T Banks failure to provide proper documentation. 
Financial Losses : Approximately {$8000.00} due to increased interest rates on credit and higher insurance premiums stemming from credit damage due to inaccurate reporting. 
Additionally, I request a setoff to balance the ledger due to overpayments under incorrect servicing terms and M & T Bank 's failure to validate debt ownership, including : Setoff Amount : The setoff amount includes approximately {$110000.00}, reflecting the initial mortgage balance from XX/XX/XXXX, and {$25000.00} for a partial claim mortgage established on XX/XX/XXXX, which lacks my authorization. This total setoff reflects unauthorized debt obligations and unvalidated collection practices. 


Final Statement for Both Complaints As Trustee of the XXXX XXXX XXXX XXXX, I have consistently made payments and issued formal demand letters on XX/XX/XXXX, and XX/XX/XXXX. While these issues remain unresolved, this complaint seeks immediate restitution, compensation, and exoneration of this loan due to cumulative statutory violations.

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