Emigrant Bank

Review: For the last 12yrs my mortgage payment is sent from Citibank recruiting payment from my checking account and goes out the 1st of the month of each month. Citibank sent out a check on 07/**/2013 but Emigrant Mortgage said they did not receive the payment till 07/**/2013 and they must receive payment by the [redacted] of each month (That I Know)and charged me a late fee of $428.90 I called and explained to Emigrant Mortgage that Citibank sent out the check on 07/**/2013, but they said that's not our problem that the check arrive late.It's very easy for Emigrant Mortgage to say they didn't receive payment and collect Million from customers with late fees. Since they are the bank (Emigrant Mortgage) And have power to do whatever they want. And I have to pay them or they will eat me alive and even maybe take my housePlease Help, the bank is taking advantage of me and all America.Desired Settlement: $428.90

Business

Response:

Dear [redacted],

Your complaint addressed to the Revdex.com was referred to me as the matter resides in my area of responsibility. I am pleased to tell you that I have authorized a refund of the late charge, and our check for $428.90 is enclosed.

While it is our policy generally to permit a one-time waiver, such waiver previously granted to you in 2004 for $386.25, I believe your otherwise good payment record deserves positive recognition. However, I would like to clarify that Emigrant processes all checks on the date of receipt and your suggestion that we may delay credit is simply incorrect and unfounded based upon the history of your own account which shows heretofore timely credits. The problem was probably either that Citibank was slow to mail the check (Citibank's debit date is not necessarily Citibank's mailing date) or the postal service was slow delivering it. In this instance, our records reflect receipt and crediting of your payment on July [redacted]. To assure your loan is credited on the first of the month, the same day the payment amount is debited at Citibank, you might consider authorizing Emigrant to direct debit through the Automated Clearing House, (ACH). If you would like such arrangement, feel free to contact me and I will have my staff assist you.

Finally, you should know Emigrant values your account and we look forward to a continued mutually satisfactory Banking relationship.

Consumer

Response: