Consumer complaint received 2019-02-17 00:00:00
Product: Mortgage — FHA mortgage
Issue: Trouble during payment process — 
Company: M&T BANK CORPORATION
State: CA

Complaint narrative:
Since XX/XX/XXXX, over-payment of escrow account, where M & T Bank   refused to credit mortgage account and pay down principal as requested numerous times over the phone. Only attaching a note on my bill, " ... Our records indicate that M & T has sent you a refund check that you have not cashed yet. Check # XXXX, dated, XX/XX/XXXX in the amount of {$220.00} ... '' ; and I just read this, on or about XX/XX/XXXXas I recall, I spoke with someone in XX/XX/XXXX, where they told me they applied this to my principal per a phone conversation back where I exclaimed, this should have been done back in XX/XX/XXXX, and the customer service representative said it was! Again speaking in another phone call in XX/XX/XXXX where M & T, stated over the phone, they had applied the over-payment to principal, yet here it is XX/XX/XXXX -- and the above message has not been removed from my monthly bills. Has monies been wrongfully misplaced on purpose? How many more customers had their overpayments not cashed and given the option to have credit to escrow/principal paid instead? Is this a violation of the FHA/HUD Rules & Reg.? Someone was lied to, and can be backed-up to that effect, including any mishandling of funds, as the amount of mortgage payment should be less than {$1500.00} per month .... Please enforce the correct payment amount, as anyone who studies math, knows numbers do not lie. Escrow is knowable, especially since the numbers for the year XX/XX/XXXX were released and M & T did nothing to correct monthly payment amounts. The false amount placed in escrow by M & T is fraud. Including since they're raising the monthly payment amount they state I am short in the escrow, which is less than the amount they still owe in back principal. The shortage amount for XX/XX/XXXX, was about $ 170+/-, and where M & T raised monthly payment amount this year. Please slap them with a fine per the rules, credit my account back principal, and re-calculate actual payment amount as ESCROW TAX AMOUNTS HAVE BEEN RELEASED FOR THE XX/XX/XXXX-XX/XX/XXXX, and is knowable down to the XXXX, where I should be paying less than $ 1500/month ; M & T is charging, {$1500.00} -- which is more than previous year, and where if principal had been credited as they said they did, what would that amount be today? Per the XX/XX/XXXX bill  amount was {$1500.00}, and where they did not credit the $ XXXXwhich would have been a reduced payment amount. Please credit from XX/XX/XXXX and using the TVM~Time Value of Money equations, recalculate new principal amount with above applied credit and supply a new escrow to establish the correct payment amount due for per month for the year XX/XX/XXXX. Not withstanding anything less than a fine, and a credit of interest per both federal and California State Laws for wrongful mishandling of escrow balances and defrauding monthly payment amounts.

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