1st Source Bank

Initial Business Response / [redacted] (1000, 10, 2016/07/26) */ 1st Source has maintained an escrow account for payment of hazard insurance for Mr [redacted] since inception of his loanSince he has now moved out of state the insurance carrier has increased the premium due to the higher risk of an unoccupied propertySince we escrow for insurance the monthly mortgage payment includes 1/12th of the annual insurance premiumThe previous monthly payment of [redacted] was based upon an annual insurance premium of [redacted] The higher premium for and unoccupied property was [redacted] which increased his payment to [redacted] We were unable to grant Mr***'s request to not have his insurance escrowed since we require escrow accounts for all non-occupied homes Should you have any questions or need clarification you may contact me at XXX-XXX-XXXX Thank you, [redacted] Vice President 1st Source Bank Initial Consumer Rebuttal / [redacted] (3000, 12, 2016/07/26) */ (The consumer indicated he/she DID NOT accept the response from the business.) 1st Source has ignored these facts: They first tried to raise the monthly payment by over three times the current increase We have contracted with and paid for the insurance for the house They are basing their collection of the excess amount based on internal rules onlyThey have no use for the money other than to satisfy a desire to collect itWhere do they intend to spend this money? They do not know, but they intend to collect it regardless of the circumstancesWhat are they doing with this money?

I don't like to do reviews that are negative but I feel people should know thisThis is not about 1st Source Bank as a whole but about one person [redacted] that works at the south Bend officeThe other lady's that I have talked to were very nice and helpfullyI was put in the middle of [redacted] telling me one thing and my niece telling me something differentI went with [redacted] telling me the truth because she had records of the phone calls that she and my niece had about the payments for her loan [redacted] told me that she called my niece a lot and my niece never called backI got on my nieces case for the whole thing and about how her not paying her loan was hurting her and her kids [redacted] kept calling me and I would send it onto my nieceI was very mean and upfront with my niece then I check my nieceâ s phone log and every time [redacted] called, my niece had called her backSo I called [redacted] myself, she was very rude to me and come to find out this record she has is one that she wrote SO I have a feeling she left off the part where my niece called her back funny how that worksThe whole problem was my niece was sending the payment by western union to them and somehow the money was not getting to the bank [redacted] instead of trying to figure out why they were not getting it instead chose to be a [redacted] and found it to be a great opportunity to screw someone over and get even more money out of her So if you go with 1st source bank in South Bend for a loan DO NOT I repeat DO NOT have [redacted] help you

Final Consumer Response /* (2000, 6, 2017/06/02) */
Today, on June 1, 2017, I spoke with a different representative of 1st Source Bank and she resolved my main concerns and complaints of this case

Poor communication with clientsUnilaterally closed my business and personal accounts without recourse after being with them years, never bouncing a check, and maintaining large cash balancesVery strange...poor customer service

Initial Business Response /* (1000, 10, 2016/07/26) */
1st Source has maintained an escrow account for payment of hazard insurance for Mr. [redacted] since inception of his loan. Since he has now moved out of state the insurance carrier has increased the premium due to the higher risk of an unoccupied...

property. Since we escrow for insurance the monthly mortgage payment includes 1/12th of the annual insurance premium. The previous monthly payment of [redacted] was based upon an annual insurance premium of [redacted] The higher premium for and unoccupied property was [redacted] which increased his payment to [redacted]
We were unable to grant Mr. [redacted]'s request to not have his insurance escrowed since we require escrow accounts for all non-occupied homes.
Should you have any questions or need clarification you may contact me at XXX-XXX-XXXX.
Thank you,
[redacted]
Vice President
1st Source Bank
Initial Consumer Rebuttal /* (3000, 12, 2016/07/26) */
(The consumer indicated he/she DID NOT accept the response from the business.)
1st Source has ignored these facts:
1. They first tried to raise the monthly payment by over three times the current increase.
2. We have contracted with and paid for the insurance for the house.
They are basing their collection of the excess amount based on internal rules only. They have no use for the money other than to satisfy a desire to collect it. Where do they intend to spend this money? They do not know, but they intend to collect it regardless of the circumstances. What are they doing with this money?

I don't like to do reviews that are negative but I feel people should know this. This is not about 1st Source Bank as a whole but about one person [redacted] that works at the south Bend office. The other lady's that I have talked to were very nice and helpfully. I was put in the middle of [redacted] telling me one thing and my niece telling me something different. I went with [redacted] telling me the truth because she had records of the phone calls that she and my niece had about the payments for her loan. [redacted] told me that she called my niece a lot and my niece never called back. I got on my nieces case for the whole thing and about how her not paying her loan was hurting her and her kids. [redacted] kept calling me and I would send it onto my niece. I was very mean and upfront with my niece then I check my niece’s phone log and every time [redacted] called, my niece had called her back. So I called [redacted] myself, she was very rude to me and come to find out this record she has is one that she wrote SO I have a feeling she left off the part where my niece called her back funny how that works. The whole problem was my niece was sending the payment by western union to them and somehow the money was not getting to the bank. [redacted] instead of trying to figure out why they were not getting it instead chose to be a [redacted] and found it to be a great opportunity to screw someone over and get even more money out of her.

So if you go with 1st source bank in South Bend for a loan DO NOT I repeat DO NOT have [redacted] help you.