Consumer complaint received 2022-12-01 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — 
Company: TRUIST FINANCIAL CORPORATION
State: SC

Complaint narrative:
Truist Bank failed to pay escrowed funds to renew Flood Policy on my home despite escrow funds available to do do so. On XXXX XXXX Truist mailed notice indicating a lender-placed policy would be purchased if the prior policy was not renewed and proof of insurance provided. I called Truist to enquire after receipt of the notice and reps indicated no renewal notice had been received. I contacted insurance agent and connected him with Truist to transmit renewal notice to proper Truist address. Truist assured me all was well. I offered to pay the policy out of pocket and square the expense with escrow funds at a later date to avoid further delays or possible issues. Was advised such payment was not necessary. 
This was all within the 30 day period to renew without penalty or lapse. Despite this action on my part, I received another notice two weeks later from Truist stating the policy had not been paid. Again I called Truist. They indicated the renewal notice had been received but the {$490.00} premium payment was on hold in their system ( they later claimed the renewal notice did not have the premium noted, which is odd since they knew the exact dollar amount ). Long story short, I called again and a manager authorized on XX/XX/XXXX the overnight delivery of the payment. The {$490.00} payment was made and confirmed XX/XX/XXXX. During that conversation I asked and was assured that no lender-placed policy would be purchased due to my actions to rectify Truist 's errors. Despite that assurance, and the escrow debit of {$490.00} being paid, seven days later an ADDITIONAL lender-placed policy was purchased for escrow funds by Truist in the amount of {$2600.00}. 

When I realized what had happened I called again and demanded a refund as none of the errors or delays were my responsibility. They agreed to review and get back to me. They never did call or write back, but did issue an un-noted refund of a pro-rated portion of that policy purchase, leaving the balance charged against my escrow account {$550.00}. This is unacceptable. In multiple calls, some escalated since, Truist reps say there was a lapse in coverage and it is my responsibility becaise there records indicate the BANK MADE NO ERROR in the handling of the account. At all times throughout this affair I was responsible and proactive, the bank was not. My notes of a XX/XX/XXXX call with rep XXXX XXXX show that she agreed and identified the bank 's error and opened a ticket requested a refund of the additional {$550.00}. That request was denied and repeated calls to the bank and discussions with supervisors XXXX XXXX have yielded the same result. The bank continues to deny any error and refuses to issue an additional refund of the {$550.00}. They state it is a settled mater and there is not oath for appeal or arbitration.

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 monetary relief