Consumer complaint received 2025-07-25 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: M&T BANK CORPORATION
State: NY

Complaint narrative:
To whom it may concern : I was informed by the loan officer at the time of signing my mortgage loan application in XX/XX/XXXXXXXX  that after 8 years of payment my mortgage will go down in XX/XX/XXXX to {$2000.00}. The loan officer pointed to the mortgage that statement that my mortgage payment will go down after 8 years of payment. I made a copy of my page and place in my desk so I could have access to it in 8 years. 
In XX/XX/XXXX, my mortgage payment was {$2300.00}. I thought about my mortgage loan going down for 8 years. Eight years later, I called M & T bank to find out if the bank was going to lower my mortgage payment. I was informed by M & T Bank that the property taxes and escrow payment has increased ; and my mortgage payment will be not going down and it will be {$2200.00}. Therefore, I realized that the bank is not going to honor the mortgage loan agreement that we agreed to in XXXX. 
Every year, I paid the increase in property tax and escrow. M & T bank has been in the mortgage business for decades they know that property tax and escrow taxes increase every year. The bank signed a mortgage loan agreement stating that my mortgage will go down to {$200000.00} after 8 years of payment and now the bank does not want to honor the mortgage agreement. 
I filed a complaint with the XXXX XXXX XXXX ( XXXX  ) and XXXX  agreed with M & T Banks that the Closing Disclosure statement with the Estimated Escrow and Estimated Tax, Insurance and Assessment can increase over time. 
The issue with the above statement can increase over time. The word can in the dictionary mean possibility or possible. My escrow, property tax, insurance and assessment has increased XXXX XXXX XXXX. There were no years when my escrow, property tax, insurance and assessment did not increase ; therefore, the statement can increase overtime is misleading. 
Loan Estimate , M & T Bank stated that my mortgage insurance was removed on XXXXXXXX  and I realize that M & T Bank is using that statement to avoid honoring the loan agreement to lower my mortgage payment after 8 years of payment. 
Yes, my private mortgage insurance was removed from my mortgage payment because I put down 10 % of the purchase price rather than the require 3 %. I understand that If I would have put down 20 %, I would not have a private mortgage insurance ( PMI ), but I put down 10 % so I could eliminate the private mortgage insurance in less time ( Years ) if I put down 3 %. M & T Bank is using the loan estimate as if they were doing me a favorite of removing the private mortgage insurance from payment. 
Attached is a copy of the letter that M & T Bank sent to XXXX  and myself outlining the above issue and not addressing the issue that after 8 years of payment that my mortgage payment will decrease. 
Based on the facts, I realize that M & T Bank does not want to lower my mortgage payment as stated in the loan application. 
P.S. I look forward to hearing from you soon on this issue. Until then you have a great day.

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