Consumer complaint received 2025-04-18 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Escrow, taxes, or insurance
Company: TRUIST FINANCIAL CORPORATION
State: FL

Complaint narrative:
I. XX/XX/XXXX a. Received a letter from XXXX rescinding renewal due to non-payment. 
b. Called XXXX  and they stated I needed to consult with my insurance broker. 
c. Spoke with my broker, XXXX XXXX with XXXX XXXX and he said a payment needed to be made ASAP, for them to not rescind the renewal. 
d. Tried calling the Truist branch in XXXX XXXX XXXX but could not get through. 
XXXX. XX/XX/XXXX a. Went to the Truist XXXX XXXX XXXX branch in person with the XXXX letter. I was introduced to and met XXXX. 
XXXX XXXX pulled up the account. She stated that a payment was sent on XX/XX/XXXX and nothing was due until XX/XX/XXXX. We thought the payment may have crossed in the mail. While there, to be sure, I called my insurance broker to verify if XXXX showed the payment in the system. He said no, nothing had been paid and Truist needed to make the payment ASAP overnight. 
c. After looking deeper, XXXX XXXX that the last payment was XX/XX/XXXX and the due date of XXXX in the system was incorrect. She called the mortgage division of Truist inquiring about the due date in the system and why the payment was not made. They verified that I had more than enough in my escrow account to make the payment. After the mortgage department agreed that it was incorrect and needed to be fixed, she informed the person on the phone that a payment needed to be sent overnight. She also scanned the letter and emailed it to the mortgage division, asking that a payment to XXXX be sent via overnight at the address on the letter. 
XXXX. XX/XX/XXXX a. As a result of XXXX XXXX, we sustained damage to our home, roof and fence. 
IV. XX/XX/XXXX a. Multiple attempts were made to contact our insurance broker, but a lot of things were closed due to hurricane damage. 
XXXX XX/XX/XXXX a. Attempted to file a claim with XXXX insurance for the damage. They informed me that the insurance was not renewed due to non-payment. 
b. XXXX informed me that because it was through escrow from the mortgage company, they offered a XXXX extension to make the payment. The last day would be XX/XX/XXXX and the payment would need to be posted by that date. 
c. Tried calling Truist bank branch with no luck. 
d. Called the Truist mortgage division, and they informed me that a payment was not due until XXXX. I asked when the payment was sent, and they said XX/XX/XXXX. I asked of XXXX or XXXX? They then confirmed XXXX and the due date was an error. They said that they could see notes and that they received an email and letter on XX/XX/XXXX to overnight the payment but it was never sent because the system still showed it was not due until XXXX. 
e. Requested that Truist make the payment overnight as it needed to be posted by XX/XX/XXXX. I was informed that the payment would not be delivered by XX/XX/XXXX. 
f. Called XXXX to see if I could make the payment to them directly myself. They informed me that because it was through the mortgage company XXXX XXXX XXXX extension only applied to them and I could not make the payment directly. They will only accept the payment by the mortgage company mailed to the address on the letter. 
g. Went to the Truist XXXX XXXX XXXX branch in person again and met with the branch XXXX, XXXX XXXX. I explained the situation and about the letter back in XX/XX/XXXX and that I came into the branch met with XXXX to get it taken care of. I also informed him that when I called the mortgage division, they still showed nothing was due until XXXX. 
h. They investigated the account and could see that it still showed no payment due. 
i. XXXX XXXX XXXX with XXXX XXXX my visit on XX/XX/XXXX. She confirmed everything I said. 
j. XXXX XXXX XXXX the mortgage division confirmed the date was incorrect. They also confirmed that although they received the email and letter on XX/XX/XXXX, they did not send the payment. 
k. XXXX XXXX XXXX me to make the payment myself. I explained that XXXX would not allow me to do that because the XXXX extension was only for the mortgage company and it could only be made by mail. 
l. XXXX XXXX XXXX a conference call between Truist mortgage company, XXXX XXXX The XXXX rep confirmed that the payment could only be made by Truist via mail and would have to be posted by XX/XX/XXXX. 
m. Truist initiated the overnight payment of {$2100.00}, hoping it would arrive in time or XXXX would make an acceptation. 
n. XXXX XXXX XXXX that a forced policy should have been put in place in XXXX, XXXX. He discussed doing this at this time, but it was unclear if it was done. This only protects the banks interest and not my personal assets or belongings. 
o. The XXXX rep suggested to see if an insurance broker could re-write the policy. I was not able to get ahold of my broker due to the impact of XXXX XXXX. They said any broker could do it. I contacted another broker who stated that it would have to be the same broker that wrote the original policy. 
VI. XX/XX/XXXX a. Finally spoke with my insurance broker ( the office had been closed due to XXXX XXXX ). 
b. I explained the situation and asked if he could rewrite the policy. He said he would check with other companies and contacts and get back with me. 
XXXX. XX/XX/XXXX a. Spoke with the insurance broker and he said no insurance would re-write the policy due to the damage and it would need to be fixed first. 
b. XXXX refused to re-instate the policy as the renewal payment that Truist sent out on XX/XX/XXXX, was too late and past the 90 day termination period. 

As a result : Truist issued a forced place insurance was {$2100.00}, which was {$1800.00} more than my previous insurance that was terminated due to the non-payment. 
The deductible for the forced placed insurance is {$13000.00}, which is {$8300.00} more than my previous insurance, forcing me to come out of pocket for even more to get the repairs to the home. 
The renewal for the forced place insurance is increasing by another {$1000.00} this year and I am expected to pay the full premium. 
My mortgage has now jumped from {$1100.00} to {$1700.00}, to payback the escrow difference, even though I paid the {$2100.00} that was returned by XXXX, back towards my escrow. 
Despite my multiple calls to Truist mortgage and insurance division ( s ), in effort to resolve this matter, Truist refuses to accept responsibility for their oversight and is holding me liable for all of these additional out of pocket expenses.

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 non-monetary relief