M&T Bank Mortgage Complaint

M&T Bank Mortgage department,

Other mortgage Loan servicing, payments, escrow account New Jersey

I have delinquent mortgage that is being serviced by M & T Bank ( M & T '' ). M & T placed forced insurance on the underlying property. An insurance claim was filed by me and - checks sent to me with certain specific instructions from M & T as to how the insurance funds would be disbursed ( i.e., M & T wanted a proposal from a contractor, a lien waiver from the contractor, a contractor 's license as well as a signature on teh - checks and an endorsement to M & T of the checks ). All documentation M & T requested was forwarded to them with the - endorsed checks ( - check for $ $990.00 and aonther for approximately $5900.00 ). Funds were expended by me for the repairs in order to protect the property ( a rof that leaked very badly and thast was causing additional dmage to the subject property ) and reliance on M &


reimbursement '' would be forthcoming. After the checks were endorsed to M & T ( each check was written to both myself and M & T ) and forwarded to M & T they refused to pay the claim, notwithstanding significant documentation sent from M & T to me indicating that the insurance would be applied toward the claim if certain procedures were followed, which I did follow. As a second part to M & T acting in bad faith, they separately provide ( not in insurance documentation ) a letter on their letterhead ( not part of the forced insurance ) called an '' Acknowlegment of Term '' and thereafter indicated to me because I signed said document, and that because the insurance was paid by them and the loan was seriously delinquent and/or in foreclosure that M & T could apply any and all insurance proceeds related to the subject property to the delinquent mortgage, as they saw fit. I indicated to M & T that I did not sign an acknowledgment of terms '' upon which they used that fact to deny reimbursement to me for the insurance claim. Thereafter, a manager at M & T ( - - ) was put on the call where I informed him that the phone call, which he was recording, was going to be used for purposes of litigation, as well as several prior calls where M & Tindicated that they did not have to pay over the endorsed insurance checks under any circumstance '', again, since the property was in foreclosure ''. I thereafter indicated to M & T that I was filing a complaint with the CFPB and that I was an attorney and was filing a lawsuit against them and that this issue was ripe for a class action. I find it highly likely that M & T is doing that to many borrowers in default and are doing so in contravention to the documentation being sent to the consumer, - various red herring '' excuses not to pay over the claim but to apply the insurance funds toward the delinquent mortgage.