FirstBank Puerto Rico Corporate

Complaint ID: 3442437

Product: Mortgage

Sub-Product: Conventional home mortgage

Issue: Trouble during payment process

Subissue:

Company: FIRSTBANK PUERTO RICO

Complaint: I have previously had my closing agent XXXX XXXX XXXX XXXX XXXX, submitt a complaint to the CFPB twice on XX/XX/XXXX and XXXX 2019 about FirstBank Puerto Rico 's mishandling of payoff funds and their refusal to issue a satisfaction of mortgage. I refinanced my property and had my closing agent sent the payoff to payoff my loan on XX/XX/2019, the pay off funds were sent with a note under the additional information to recipient that stated " Loan payoff for loan # XXXX, as of today FirstBank of Puerto Rico refuses to issue a Satisfaction of Mortgage and has now report me to the credit bureau. Following is an explanation of what occurred since the date I refinanced my property. This occurred in XX/XX/2019, as it is common practice by all closing agents my agent called FirstBank Puerto Rico to send the wire after having confirmed the exact amount and received the funds needed to satisfy the loan, for reasons that FirstBank Puerto Rico has still not been able to adequately explain, FirstBank Puerto Rico placed the funds in suspense rather than applying to them to the pay off. FirstBank Puerto Rico has advised that the borrower ( myself ) should have called to explain how the borrower wanted to use the funds. This is a non-sensical explanation as the total amount remitted was the exact amount to pay off the funds and therefore, there was no other place to apply the funds but to the pay off. Also, FirstBank Puerto Rico was fully aware that my closing agent had authorization from me to obtain pay off figures and send the pay off funds Two months after closing and despite having full pay off funds in their suspense account, FirstBank Puerto Rico nonetheless decided to advance funds for the borrower 's insurance. As previously mentioned, we submitted a a CFPB complaint after FirstBank Puerto Rico refused to issue a satisfaction of mortgage as required by Florida Statutes. Instead, yesterday, we received a payoff from FirstBank Puerto Rico wherein it appears that they are no longer accounting for the escrow advance but are charging per diem interest from XX/XX/2019 to date plus unjustifiable charges " recoverable advance balance '', " unpaid late charges '', " payoff letter '', " registered mail '', etc We urge the CFPB to assist in resolving this issue which was created solely by FirstBank Puerto Rico 's incompetence and further ask that CFPB to launch an investigation into FirstBank Puerto Rico 's servicing procedures.

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

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Complaint ID: 3076456

Product: Debt collection

Sub-Product: Auto debt

Issue: Attempts to collect debt not owed

Subissue: Debt was already discharged in bankruptcy and is no longer owed

Company: FIRSTBANK PUERTO RICO

Complaint: On XXXX me and my wife filed a Charter XXXX on US Bankruptcy Court with Case No. XXXX, then by XXXX US Bankruptcy Court given us the " Order Discharging ''. First Bank of Puerto Rico was part of the " Secure Creditors '' with 2 Auto Loan Accounts, both Autos where delivered to them. After more that 3 years, First Bank of Puerto Rico still continuing reporting that we have a debt. Last reported was on XXXX XX/XX/XXXX where they reported two Auto Loans as a " Collection/Charged off Account '' on XXXX and by XXXX XX/XX/XXXX and XXXX XX/XX/XXXX they reported the two same Auto Loan as a " Collection/Charged off Account '' with XXXX. I had tried too many times to resolve this OLD issue, I have called them and also through these 2 credits bureaus. They have told me that they will not change nothing because is the way that they do in Puerto Rico. These 2 error have impacted negatively my Credit Score creating higher interest loan for my Auto and my House that I just bought, also I have had some Credit Card decline applications. Please need your help to fix this immediately. Thank you very much!

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

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Complaint ID: 2730789

Product: Checking or savings account

Sub-Product: Other banking product or service

Issue: Managing an account

Subissue: Problem accessing account

Company: FIRSTBANK PUERTO RICO

Complaint:

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

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