Report: #857644

Complaint Review: CitiMortgage

  • Submitted: Thu, March 22, 2012
  • Updated: Sun, May 06, 2012
  • Reported By: AusTex — Austin Texas United States of America
  • CitiMortgage
    P.O. Box 6243
    Sioux Falls, South Dakota
    United States of America

CitiMortgage Misapplied payments & failure to notify regarding late payment Sioux Falls, South Dakota

*Consumer Suggestion: Who to contact when a bank rips you off

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We inadvertently missed a mortgage payment for December 2010.

In December of 2011 we received a statement from the mortgage company stating we owed them a late charge of $782.34 (12 months x $65 ea). That amount was subtracted from the extra principal payments we made during 2011. Those payments were held by Citi the entire year and were not applied to the mortgage until December 2011 as a lump sum.

The fact we were late on a payment was only brought to our attention in December 2011 and no late charged appeared on any statements during 2011 except for December, when it was first brought to our attention. To be explicit, for 12 months, monthly late charges were accrued and applied as a lump sum in December 2011 with no late notice provided to us at anypoint during that time. Although our issue was supposedly sent to a resolution department, the letter denying our request to drop the charges was issued the same day indicating our request was given no serious consideration.

The Consumer Protection Financial Bureau closed the case I filed stating they did not have the authority to pursue this problem.  The attorney general's office in the state of Texas where I reside stated they do not investigate non-criminal matters. You can always sue, I suppose, but a judgment does not equal payment. So you send it to collections and get 1/2. Not worth the effort.

The lesson for me is that I will not do business with commercial banks in the future and instead deal with credit unions only.
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This report was posted on Ripoff Report on 03/22/2012 06:36 AM and is a permanent record located here: The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Suggestion

Who to contact when a bank rips you off

AUTHOR: anonymous - (United States of America)

File a complaint with the Office of the Comptroller of the Currency (  After your complaint is received, a copy is sent to the lender/bank/financial services, etc in which the business HAS to respond.  When filing, be succinct and get to the point.  If you have documentation, send a copy of your complaint and COPIES of your proof.

You will receive a response from your lender in which a copy of this same letter is sent to the Office of the Comptroller of the Currency. 

Do not let your lender bully you.  Also, do not trust them.  Any unsigned letter you received from your lender is NOT a legal document, and they are hoping you do not know this important piece of information.
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