Mortgage -- Trouble during payment process -- Complaint #8012949
Complaint Overview
Complaint ID: 8012949
Company: Citizens Financial Group, INC.
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Sub-Issue: Escrow, taxes, or insurance
State: Virginia
ZIP Code: 24012
Date Received: 2023-12-16T12:00:00-05:00
Date Sent to Company: 2023-12-16T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I am a first time homebuyer and bought the home in XXXX. My mortgage was sold to the current lender, Citizens and after the 12 months my insurance lapsed. I was not notified, no calls, no texts, no emails - I get billings about paying my monthly mortgage payment every month, meaning my email works just fine for them to make sure they get their money. Citizens did not inform me that after buying my mortgage last year in XXXX that they did NOT have the insurance information and couldn't renew it. Both Citizens and the insurance company admitted that this happens often to first time buyers. Citizens reps on the phone stated they see this all the time, yet, they don't have anything in place for this. I lost my insurance due to this lapse and now my payments went up about {$100.00} a year because of this. I never received any formal communication when Citizens bought my loan that this may happen and no notice that they couldn't contact my insurance company. They then went on to forcibly purchase me insurance at {$1000.00} when my original cost was around {$700.00} per year - currently {$800.00} because of this.
Frequently Asked Questions
What is Complaint #8012949 about?
Complaint #8012949 was filed against Citizens Financial Group, INC. regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2023-12-16T12:00:00-05:00.
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.