Consumer complaint received 2025-01-13 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Problem with personal statement of dispute
Company: TRUIST FINANCIAL CORPORATION
State: NC

Complaint narrative:
On XXXX XXXX, XXXX, Truist Mortgage sent me an email ( attached ), indicating that our " escrow statement is now available to view online ''. Nowhere in this communication, nor in any other communication from Truist is there an indication that the our monthly payment amount has changed. At no time did Truist Mortgage indicate that action was needed on our part. We assumed that the email was routine, as a yearly escrow statement is also routine, and I did not follow up. On or about XX/XX/XXXX we received notifications from XXXX as well XXXX credit card companies that our credit score had changed. That's when we learned that a missed/late payment report had gone to the XXXX credit bureaus and our credit score when from stellar ( in the 800 's ) to fair or good. 


In fact, the payment for the mortgage was sent in, as always, before the due date. It was not late. What was off was the the increase in the escrow amount by {$94.00}. Truist Mortgage also charged us a {$71.00} late fee. As soon as we became aware of the discrepancy, it was corrected. The autopay amount was changed, as required. Because of what we consider to be an arbitrary policy, the total amount that was sent to Truist Mortgage on or before the due XXXX was held in 'suspense '. In fact, the proper amount for the mortgage ( and homeowner 's insurance ) was in their hands by the due date. Their failure to apply it to the mortgage is due to their internal policies. 


I talked to a Truist Mortgage representative on XX/XX/XXXX. I asked that the late fee be forgiven, and asked that the negative credit reports be rescinded for the reasons stated above. The Truist Mortgage rep indicated that the late fee would be reversed but that I would have to go through the XXXX  credit bureaus to try to correct the negative credit report. ( Dealing with these entities is not a pleasant experience. ). Subsequently, on XX/XX/XXXX, we received a notice that the late fee would still be assessed. I talked with Truist Mortgage, again, and was told, basically, 'too bad '. This rep indicated that he could not access a recording the previous conversation and commitment to rescind the late fee. I should note that all conversation ( s ) with Truist Mortgage are recorded, although their inability to access them makes them rather useless. I also requested that I talk with a supervisor. I was told that one would call me with XXXX hours (! ). No call was ever received. Again, this can be verified by their phone recordings. 


I submitted a dispute with Truist Mortgage as well as all three credit bureaus. I should note that the Truist process only allows for a statement of about XXXX characters. This is insufficient to fully explain the issues. On XX/XX/XXXX, we received a Truist Mortgage response to our disputing the late payment/late fee/negative credit report, which consisted of sending us a copy of the note, XXXX XXXX and deed of trust and a complete record of past payment history ( about XXXX pages ), and a brief standard letter stating the obvious : " All the loan terms originally agreed to .... '' They failed to respond to the fact that they did not properly inform us that the monthly payment had changed, or that the mortgage itself had been paid on time and that the only issue was the escrow amount.

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