Bank of the West Mortgage Complaint

Home equity loan or line of credit Loan servicing, payments, escrow account

Bank of the West Mortgage department,

Home equity loan or line of credit Loan servicing, payments, escrow account Colorado

- - -/-/- Senior Vice President - Bank of the West Hello - -, On -/-/- I made a early extra $300.00 payment using funds in account from Income Tax return deposited into account on -/-/-. Enclosure ( Auto Pay debit 0f $ - - ) As we know The Section titled " Prepayment '' in the Promissory Note states " Early payments will not relieve me of my obligation to continue to make payments under the payment schedule. '' It was explained to me this is why AutoPay debited $570.00 on -/-/- to Satisfy the Regular scheduled payment due under the payment schedule. On -/-/- I made a early extra $450.00 payment using Income Tax return funds that deposited into account on that day.


That would make regular payment of $570.00 due on regular payment date according to you " -/-/- ''. As we know AutoPay should debit $570.00 on regular payment date " -/-/- ''. We know by the Note Rule an early payment can satisfy a late payment fee of a future payment date but does not ever satisfy a Regular payment due under the payment schedule. Account balance on -/-/- was $2500.00. Plenty of funds to satisfy Regular scheduled payment of of $570.00 on -/-/-. Enclosure ( - - Checking AccountStatement ) One thing we do know is the Regular scheduled payment can not be satisfied because of an earlier payment. Why did AutoPay fail to debit regular scheduled payment of $570.00 on the Regular scheduled payment date of -/-/-? Enclosure ( Mortgage Transaction History ) Thank you in advance for acknowledging and answering this request. Sincerely, - -

Bank of the West customer in Colorado
Apr 07, 2016

* Source: CFPB Complaint Database

Bank of the West response to complaint:
Closed with explanation

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