5/3rd went to my insurance company to get cost of insurance, rather than notiy me of this, so i could get the proper cost of insurance sent to them.in this case it paid on a Commerical package which was already paid for the year. They added the cost of this to my escrow and paid the insurance again.
I am paying for the next year so this makes 3 times the insurance being paid for in one year. Once this is found out by insurance company i get a refund. The bank catches up couple months later and tacks on late fees for not paying them the whole fee back. I told them their mistake i pay on the escrow as a 12 month as normal yet they did not like this and started to attack me by hitting my credit each month for non-payment of full insurance refund.
MY point they should suffer some for stepping in where they should not have and went directly to my insurance company, instead of me as over 30 years of rental property mortgagors send you a letter requesting insurance proof. Since they failed at this they have to bear some of the responsiblity, they will not. They continue to charge late fees, hit my credit, even though i can show i never missed a payment and even make what they want as a payment.
I see in their anual stock holders that they report that they made 140 million in late fees in one year, this seems to be a business side line for them.
I feel they did wrong by contacting my insurance company, they should have worked with me on paying it back over 12 months as their fault punishment.
But as a big company they are never wrong, only the comsumer. I have two years of letters sent by fax to them, their answers, even the state letter of complaint to them and answer.
Fifth Third now just will not answer my faxes.
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