Consumer complaint received 2025-08-13 00:00:00
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Applying for a mortgage or refinancing an existing mortgage — Trying to communicate with the company to fix an issue with the application process
Company: M&T BANK CORPORATION
State: DE

Complaint narrative:
We began the refinancing process with M & T Bank on XX/XX/2025 and were assigned to work with XXXX XXXX. From the beginning, communication was inconsistent and unprofessional, leading to repeated delays, unanswered questions, and ultimately significant financial loss. 

XXXX of Key Events XX/XX/XXXX : The home appraisal was completed. 

XX/XX/XXXX XX/XX/XXXX : I followed up multiple times requesting updates on the appraisal and the underwriting timeline. Responses were slow and vague. I was repeatedly told no updates yet, despite the timeline dragging on. I asked if anything else was needed from us, and was told no. 

XX/XX/XXXX ( XXXX ) : After weeks of follow-up with little to no proactive communication, I formally requested a new loan XXXX. I was told this wasnt possible. 

XX/XX/XXXX : I was finally told the underwriter had completed their review and received the appraisal report. I was informed there was no way to contest the appraisaleven though it had factual errors : A XXXX  bedroom was excluded from the report, despite being finished, heated, and having a closet. 

The square footage was incorrect. 

The comps were outdated and not representative of the local market. 

I asked for clarification on XXXX of the appraisal discrepancies and received no response. 

Further Delays + XXXX XXXX XXXX Withholding File Transfer Because of these issues, we pursued a different lender. However, we were unable to move forward for weeks because M & T delayed transferring our file : XX/XX/XXXX : The new lender requested a transfer of the appraisal and file. 

XX/XX/XXXX : I directly requested that M & T terminate the loan. 

XX/XX/XXXX : The file was finally XXXX full days after the initial request. 

Unacknowledged Complaint XXXX  Appraisal Fee On XX/XX/XXXX, I sent an email to XXXX XXXX ( XXXX XXXX  XXXX XXXX ) asking for the appraisal fee to be waived or reduced due to : The inaccurate appraisal The delays in communication The lack of agent responsiveness The harm this process caused I received no response. I sent another email on XX/XX/XXXX. I later spoke to XXXX on the phone. He confirmed M & T would charge the full appraisal fee regardless and made no effort to acknowledge or apologize for the poor experience. He even stated that XXXX was a great agent, despite the pattern of neglect. 

Still XXXX XXXX XX/XX/XXXX : I mailed the check for the appraisal fee. 

As of XX/XX/XXXX, the check has still not been cashed. I followed up again with no response. XXXX is now out of office, and the alternate contact also has not responded. 

Resulting Harm Because of XXXX & XXXX excessive delays, the market shifted significantly. We were initially considering disputing the appraisal, but because M & T took so long to provide updates and complete the transfer, housing values have since declined further. Now, if we try to dispute the appraisal, we risk an even lower valuation. 

We have lost out on thousands of dollars in equity, and this situation could have been entirely avoided if M & T had acted promptly and professionally. 

Resolution Requested : A full refund of the appraisal fee A formal investigation into the poor communication, delayed processing, and refusal to assign a new agent despite just cause

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