Consumer complaint received 2023-12-29 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: FIFTH THIRD FINANCIAL CORPORATION
State: GA

Complaint narrative:
On or about XX/XX/XXXX, I received a letter from Fifth Third Bank, stating they paid {$5100.00}, to XXXX XXXX for my property taxes on XX/XX/XXXX, and effective XX/XX/XXXX, my mortgage payment is {$2700.00}. This letter arrived 12 months after my first mortgage payment as the new homeowner of current property, which I purchased on XX/XX/XXXX, from the investors called XXXX XXXXXXXX XXXX XXXXXXXX and there was no realtor on the sale of the property. 

I immediately called Fifth Third Bank. I spoke with a representative, and I was told I was deficient in my escrow account. I stated thats incorrect. I informed the representative I paid at closing the amount of {$3700.00}, toward my XXXX property taxes and in addition I was given a tax credit by the seller in the amount of {$2400.00}, which totaled {$6100.00} at the closing of the purchase of my home. I stated I also paid State Farm for my mortgage insurance for a year and my HOA fees, which my down payment was over $ XXXX to close on my home. 

The representative asked me to provide my closing docs which I emailed to XXXX, as requested. The representative stated once the documents are received and reviewed the correction would be made based on the documents submitted. 

I continuously called Fifth Third Bank at XXXX, on numerous dates and times. The automatic process to speak with a representative for your mortgage is not favorable when you do not have a checking or saving account with Fifth Third Bank. I spoke with several different representatives they stated my account is still in review. 

On or about XX/XX/XXXX, I was assigned a case manager by the name of XXXX. The case manager XXXX was just a gatekeeper and did nothing to correct the calculation error by Fifth Third Bank escrow department. Even though I was told XXXX is the main point of contact. I would leave several messages requesting an update on my mortgage payment reflecting the correct amount before the next incorrect payment of {$2700.00}, due on XX/XX/XXXX. XXXX was nonresponsive. 

On XX/XX/XXXX, I stated XXXX Ive been receiving a tremendous amount of inaccurate information from all parties I have spoken with at Fifth Third Bank. I stated I will contact the escrow attorneys office I closed with on XX/XX/XXXX, since I paid over $ XXXX at closing and they were responsible for disbursing all funds I paid for the year at closing, which reflects on my closing docs. XXXX continued to apologize and stated I will follow up with you to have a favorable resolution XXXX XXXX. Thanks! 

I reached out to XXXXXXXX XXXX XXXXXXXX and spoke with attorney XXXX. Per attorney XXXX, I received an additional tax credit in the amount of {$2400.00} and you paid also {$3700.00}, which gives you a total for XXXX XXXX Taxes {$6100.00}. Per attorney XXXX you are due a tax refund since Fifth Third Bank stated they paid XXXX XXXX taxes for XXXX, in the amount of {$5100.00}. Per attorney XXXX. I see XXXX XXXX assess property taxes for all XXXX XXXX residences in XXXX of each year. Per attorney XXXX XXXX XXXX, our office gave back the taxes you paid at closing to XXXX XXXX XXXX XXXX in the amount of {$3700.00}. Per your closing docs you are not escrow deficient and you are due an actual refund and Im sorry you are going through this with the escrow department at Fifth Third Bank. 

I asked attorney XXXX if he could confirm this with the assigned case manager XXXX at Fifth Third Bank. Attorney XXXX agreed and we placed a 3-way call to XXXX direct number. I left a voicemail message and attorney XXXX left one as well so XXXX would know Attorney XXXX was on the call when I left my voicemail, and he would speak with him to clear up the processing error Fifth Third Bank escrow department had made. I continued to follow up with XXXX and continued to receive his voicemail. I reached out to Attorney XXXX to see if XXXX contacted him, and per attorney XXXX stated no. 

On XX/XX/XXXX. I reached out to Fifth Third Bank at the XXXX #. I asked to speak with an escrow manager I was transferred to XXXX. Manager XXXX reviewed my account and stated the reason why your mortgage is {$2700.00}, we paid your XXXX taxes to XXXX XXXX in the amount of {$5100.00}, which caused the escrow shortage per the analysis that was completed XXXX on your escrow account. I stated Fifth Third Bank escrow department did an analysis assessment 12 months later from XX/XX/XXXX, to XX/XX/XXXX, which I paid {$680.00} monthly into my escrow account which equals {$8200.00}. I also, stated this amount doesnt include the taxes Fifth Third Bank received when they bought my loan from XXXX XXXX XXXX XXXX in the amount of {$3700.00}, in addition to the seller tax credit of {$2400.00}, which adds up to $ XXXX $ XXXX {$14000.00} in my escrow account from XX/XX/XXXX, to XXXX XXXX. So, there is no way I could be escrow deficient during the assessment analysis. 

XXXX XXXX stated XXXX XXXX our system shows you paid into escrow from your first mortgage payment on XX/XX/XXXX, to XX/XX/XXXX, totaling {$12000.00}. I asked why am I being bullied by Fifth Third Bank? And force to pay {$2700.00}. XXXX? Per XXXX Fifth Third Bank bought your loan from XXXX XXXX XXXX XXXX and Fifth Third Bank can do has they please to your loan since Fifth Third Bank owns it. I stated thats not true. Fifth Third Bank can not change the terms and conditions of my loan. Per XXXX the decision for you to pay {$2700.00} stands and is non-negotiable. I stated everything is negotiable especially when its incorrect. Manager XXXX ended the call. I immediately reached out to case manager XXXX ; he was unavailable. I left him a voicemail of the conversation I just had with escrow manager XXXX. 

On XX/XX/XXXX, once again I received case manager XXXX voicemail. I left voicemail message stating Ive been waiting to speak with you because the message I received from escrow manager XXXX, was confusing, on one hand Im not escrow deficient, but manager XXXX stated since Fifth Third Bank owns my loan they can do as they please. I called and left you a voicemail after speaking with XXXX on XX/XX/XXXX. 

Also, on XX/XX/XXXX, I called XXXX # and spoke with a young lady for over 1 hour and 43 minutes about my account stating what escrow manager XXXX said. The young stated Fifth Third Bank calculated your new mortgage payment at {$1700.00}, in addition to your escrow of {$940.00}, give you a mortgage of {$2700.00}. I stated, my P & I is {$1400.00} not {$1700.00}. I stated Fifth Third Bank as definitely changed the terms of my loan which they can not do since they bought my loan from the previous lender AS IS. 

The young lady had a unique name unfortunately, I was out and about and couldnt write her name down. The young placed me on hold to review my account. The young lady stated I was able to locate the error Fifth Third Bank made on the analysis, which she stated my mortgage payment should not be as high as it is showing. The young lady stated please allow me to send this up and have our Escrow department make the correction and get this right, XXXX XXXX. Im sorry for the inconvenience this has caused you. I asked how long it was because my XXXX payment is due and its still showing {$2700.00}, and this has caused me great hardship and mental stress. The young lady said, XXXX XXXX, once again Im so sorry for the inconvenience. Please allow XXXX business days. 

After speaking to the young lady on Friday, XX/XX/XXXX, I did not receive a follow up from the escrow department regarding the error discovery by the young lady. I called case manager XXXX once again received his voicemail just to leave another message. 

On Friday, XX/XX/XXXX, I asked to speak to Fifth Third Bank legal department. I was told Fifth Third Bank doesnt have a legal department. I asked to speak to Fifth Third Bank compliance department. I was told Fifth Third Bank doesnt have a compliance department. I told the caller every company has a legal department and or compliance department. So, I asked who is over XXXX, I was transferred to XXXX, she acknowledged herself as an escrow manager. 

XXXX placed me on hold to review my account. XXXX stated that my escrow is {$740.00}, which includes XXXX, XXXX XXXX taxes, the City of XXXX XXXX, and XXXX XXXX XXXX. I stated XXXX XXXX XXXXXXXX XXXX is our new community waste management provider and that bill was to come to me directly. XXXX XXXX stated its not much monthly. Per XXXX XXXX Fifth Third Bank requires you to have XXXX months of advance funds in escrow for cushion. 

I stated to XXXX XXXX Fifth Third Bank bought my loan AS IS, I stated Fifth Third Bank can not change the terms and conditions of my loan. I purchased my home on XX/XX/XXXX, I have a Conventional Loan, I have a Fix rate. I have no prepay penalties. I have no funds needed in reverses for a cushion. I stated your company business practice is illegal. Per XXXX, XXXX XXXX, we can do as we please to your loan since we own the loan. I stated no you cant! And if what you are telling me is true, please send me the documents which state Fifth Third Bank can change the terms and conditions of my loan as they please. 

I stated to XXXX, you told me that my escrow is {$740.00}, correct? Yes, XXXX XXXX, that means my mortgage for XX/XX/XXXX, will be {$2200.00}, XXXX XXXX was silent, and she stated you are correct, because your P & I {$1400.00}. I stated XXXX XXXX the escrow is still high. But the payment of {$2200.00} is better than paying {$2700.00}, because Fifth Third Bank has caused me great hardship and mental stress. 

XXXX XXXX stated I will get this corrected! XXXX XXXX and have XXXX to contact you. I stated I no longer want XXXX to handle my case. XXXX was assigned to me back in XX/XX/XXXX and here its close to the end of XX/XX/XXXX, and Im still being financially bullied and harassed by your escrow department and Fifth Third Bank as a whole. I was told Fifth Third Bank doesnt have a legal or compliance department. Per XXXX we do have a legal department their Fifth Third Bank attorneys and customers do not have access to them. I asked who was over XXXX, XXXX stated XXXX is XXXX XXXX. I asked could you have XXXX to call me. Per XXXX Im emailing XXXX now I asked to be copied on the email XXXX told me she could not. But XXXX will call me, XXXX XXXX, please allow 3 business days. 

Instead of receiving a call from XXXX, as promised by XXXX. I received a call from case manager XXXX, telling me that he spoke with XXXX and the XXXX months of advance funds are required for escrow and thats why your monthly mortgage is {$2700.00}. I stated thats illegal Fifth Third Bank can not change the terms and conditions of my loan. 

I stated XXXX told me my escrow is {$740.00}, and with my P & I of {$1400.00}, my XX/XX/XXXX, will be {$2200.00}. XXXX stated the only way to bring your payment down you must issue the XXXX check refund you received in the amount of {$840.00}, credit and the principal amounts you paid for XXXX months we can add that and that will bring your monthly payment down to the {$2200.00}. XXXX! I still need to speak with your manager XXXX, to report the mishandling and misprocessing of my mortgage loan with Fifth Third Bank. 

XXXX told me Im not allowed to speak directly to XXXX. I stated I was told by XXXX I would receive a call within 3 days from XXXX and she emailed XXXX while I was on the phone stating the correction of my mortgage should reflect the {$2200.00}, for XX/XX/XXXX, and moving forward, which I told XXXX that was still too high, but it was better than {$2700.00}. XXXX told me Im not allowed to speak with XXXX, but he can refer me to XXXX. I stated, I dont trust no one at your bank institution because I have been bullied and put in great hardship and mental stress, with the inaccurate calculation of my mortgage payments and no one can tell me where my {$14000.00}, in escrow went to from XX/XX/XXXX to XX/XX/XXXX and per XXXX XXXX XX/XX/XXXX, Fifth Third Bank system showed the total I paid into escrow from XX/XX/XXXX to XX/XX/XXXX, was {$12000.00}, where is my escrow money? 

I asked XXXX, XXXX, and XXXX all to send me documents showing that Fifth Third Bank can change the terms and conditions of my mortgage loan they bought from XXXX XXXX XXXX XXXX. XXXX stated do you want to speak with XXXX are not. I stated if I dont speak with XXXX XXXX Im forced to continue paying this unlawful mortgage payment of {$2700.00}? 

On XX/XX/XXXX, I left a recorded voicemail for XXXX, researched my rights as a consumer and I provide a very detail voicemail stating the calculation of escrow which I followed the money and I have proving documents showing that Fifth Third Bank as changed my terms and conditions and has caused my escrow to reflect inaccurate escrow shortage. 

On XX/XX/XXXX, I left a recorded voicemail for XXXX in detail. I provided a breakdown of how Fifth Third Bank manipulated their systems to reflect an escrow shortage when I was never at an escrow shortage when Fifth Third Bank did an analysis assessment on or after XX/XX/XXXX. I also stated XXXX left me a voicemail message apologizing and stated she was taking ownership of my account and allow her time to make the necessary correction I stated XXXX did not leave a contact number for me to call her back. 

As of today, I havent heard from XXXX since she took ownership of my complaint. I received a statement from Fifth Third Bank via US mail last week which Fifth Third Bank has applied unwarranted late fees to reflect on my mortgage. I have never been late on my mortgage payments! 

Im writing this complaint against Fifth Third Bank to be investigated for their illegal financial practices and I know Im not the only customer they are mishandling and misprocessing escrow accounts. Ive only had a mortgage for XXXX months at the time Fifth Third Bank created unwarranted late fees and mailed the statement to me via US mail. Once again, I have never been late with my mortgage payments. I did not have a realtor for the sale of my home, which I purchased from an investment group called XXXX XXXX XXXX XXXX. 

I also discovered that my MI of {$140.00}, is incorrect which Fifth Third Bank has charged me since my first mortgage payment on XX/XX/XXXX, and every month Fifth Third Bank subtracted the MI of {$140.00}, from my escrow account. In addition, Fifth Third Bank has subtracted the MI of {$140.00}, twice a month. I have attached my mortgage statements which I was able to access via Fifth Third Bank website at XXXX. 

I have attached my closing docs I signed on XX/XX/XXXX, which shows my MI is {$140.00}. I also received a copy of my closing docs via US mail with the posted stamp dated XX/XX/XXXX, from the previous lender XXXX XXXX XXXX XXXX shows my MI is {$140.00}. 

The incorrect MI applied by Fifth Third Bank is another example of how this bank institution manipulated their system for their financial gain and deceived me as the customer. The documents I have submitted show that I was never escrow deficient and Fifth Third Bank had no right to cause my mortgage payments to be {$2700.00} for the past 3 months and theres no legal cause to justify why my mortgage went from {$2100.00} to {$2700.00}. 

Im requesting that my mortgage reflect my correct MI of {$140.00}, P & I {$1400.00}, Property Tax for XXXX, and my current XXXX XXXX XXXX and XXXX XXXX XXXX. Im hoping to be effective XX/XX/XXXX, if not no later than XX/XX/XXXX. I would like to have all the monies Fifth Third Bank stole from me and caused me great hardship and mental stress with interest and a right to file a lawsuit and bring this issue public because I know Im not the only customer who has been victimize by Fifth Third Bank escrow department. 

I can be reached at XXXX and XXXX and emailed at XXXX. 

Kind regards, XXXX XXXX

Company response to consumer: Closed with explanation