Mortgage -- Trouble during payment process -- Complaint #6278704
Complaint Overview
Complaint ID: 6278704
Company: Citizens Financial Group, INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: New Jersey
ZIP Code: 088XX
Date Received: 2022-12-04T12:00:00-05:00
Date Sent to Company: 2022-12-04T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I have a standard 30 year mortgage with Citizens. Citizens assumed the mortgage about 1 year ago. I am current on all my payments -- in fact, I regularly pay about XXXX months in advance. MY ESCROW ACCOUNT IS SIGNIFICANTLY OVERFUNDED. Despite at least five phone calls to the Citizens escrow department over the period from XXXX to XX/XX/2022, the issue was never resolved. The ESCROW STATEMENT sent by Citizens to me ( dated XX/XX/2022 ), has an OBVIOUS ERROR on the table on page XXXX of the statement. The computer or person populating the statement ERRONEOUSLY assumed ( for some obviously wrong or possibly bad faith reason ) that there would be {$0.00} of payments to the escrow account in the ( at the time future ) XX/XX/2022 and XX/XX/2022 periods. The statement therefore ERRONEOUSLY calculates a starting shortfall that needs to be made up with an additional {$150.00} / month top up escrow payment by myself over the coming year. The math is OBVIOUSLY, and simply, wrong but Citizens has never corrected it or generated a new escrow statement. When I made my phone calls to Citizens in XXXX and XXXX, THESE TWO ESCROW PAYMENTS HAD ALREADY BEEN MADE, so I can only assume that the Citizens escrow department is either completely incompetent or acting in bad faith. No one ever responded knowledgably, or helpfully, to my concerns. They either ignored me completely or forwarded me to another phone rep that they indicated -- probably dishonestly -- was a manager. Not only should I not be contributing {$150.00} / month additional money into the escrow account, but several thousand $ should be refunded to me immediately.
Frequently Asked Questions
What is Complaint #6278704 about?
Complaint #6278704 was filed against Citizens Financial Group, INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2022-12-04T12:00:00-05:00.
How did Citizens Financial Group, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Citizens Financial Group, INC.?
Yes, visit the Citizens Financial Group, INC. company profile at readthecomplaint.com/company/citizens-financial-group-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.