Consumer complaint received 2025-09-05 00:00:00
Product: Mortgage — VA mortgage
Issue: Closing on a mortgage — Trying to communicate with the company to fix an issue with the loan closing
Company: M&T BANK CORPORATION
State: FL

Complaint narrative:
On XX/XX/XXXX I performed an assumption of my existing XXXX  loan with another veteran through M & T Bank. Within our sales contract we stipulated that the other veteran would use their entitlment to replace my own so that I could re-use my XXXX  XXXX loan benefits. 

I was advised by M & T that it takes about XXXX weeks after closing and addtional XXXX weeks for the XXXX  to process the paperwork to restore my entitlment from the date of closing. I would later find out through the XXXX  M & T was supposed to of processed and sent to the XXXX  the closing documentation within XXXX calender days of our closing date XX/XX/XXXX. ( XXXX calender days would of been XXXX XXXX ). 

After waiting for the month of XXXX to pass we began our search for a new home. We exectued a contract on XX/XX/XXXX and gave a 45 day window for closing ( XX/XX/XXXX almost XXXX weeks after closing ) with the belief we need the extra time allow for my Certificate of Eligiablity ( COE ) to be restored by the XXXX XX/XX/XXXX I was informed I contacted XXXX XXXX XXXX inform her that the XXXX  XXXX informed myself and my loan officer ( XXXX XXXX XXXX that they had recieved no documents for a closed assumption from M & T bank. I then had to work through multiple phone calls and being re-directed multiple times from the service department and the mortgage department wtih each saying the other had to handle the problem. I was told that no audit department or compliance department was avaible to speak with me on multiple phone calls that occured between the XXXX through the XXXX. I was promised action and reach back on multiple occasions with none occuring. I my realtor, and loan officer made several e-mail attempts that went unanswered. After a stress filled and anxiety filled XXXX XXXX weekend I was finally able to get a XXXX XXXX ( not sure of the spelling ) to take owenership of the situation and push to have documents sent over to the XXXX  on XX/XX/XXXX. 

These delays and lack of accountablility caused us to miss our closing and have to express and ask for the XXXX  to move faster to restore my COE. The typical restore of a COE takes 30 days from once its assigned. Obviously the XXXX  has a process to follow and is not a fault for when they recieve documents. 

However, due to M & T we are now in XXXX of lossing out on this home ( XXXX cost ) and I have a XXXX dollars deposit and an addtional XXXX ( inspection fee and apprisal cost ) that could be lost if our delay or extension is reject by the sellers. The living situtation for myself and my XXXX dependents is now in danager we may experience a period of homelessness. My children potentially will be removed from the school district should the sale fail to move forward. 

As veteran I feel I have been punitively punished by the M & T and the banking industry as a whole because I entertained an assumption to help another veteran keep a lower interest rate. I say this because I have bought and sold several houses using a XXXX loan and restoration process in the past and have never had these types of delays, issues and paperwork requirments.

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