Fifth District Savings Bank - Fifth District Savings Bank

Fifth District was great when we went to purchase a home and they gave us a very simple process to obtain a mortgage [-]. I recommended them many times as I know many realtors however they really disappointed [-] when it came to [-] personal service a local bank typically has [-] advantage of a large bank. 3 years ago [-] ex and I purchased a home together and this last fall we split, with [-] agreement [-] ex kept [-] home and would refinance [-] name off [-] mortgage within 2 years. I am a small [-] owner and in [-] was denied [-] extension of our credit [-] due to recent late mortgage payments which shocked [-]. When I looked into it, [-] bank had sent [-] escrow analysis to [-] house in [-] fall and it subsequently changed [-] payment on [-] house which was [-] [-] draft from our bank account. This resulted in [-] mortgage payment being short and they called [-] ex to let her know it was short and she brought in a larger lump sum payment to bring it current. She did not understand at that time that [-] amount of [-] payment still needed to change or it would, and did fall short again in [-] this year and she then corrected [-] amount being debited to $300 more than [-] [-] higher payment even.
When I called [-] banker and explained that I was unaware and [-] ex simply was not used to handling [-] finances they gave [-] a change of address form so I could be copied on future mailings however went seemingly out of their way ([-] banker [-], and then her manager [-], whose number I requested) to describe to [-] in [-] detail [-] right they were that [-] payments were late. I understood this but was making a plea to remove [-] 2 late reports from [-] otherwise perfect credit because this was not a matter of blatantly not paying our obligations, it was a matter of not understanding that [-] lump sum paid in [-] fall was not [-] entire amount and [-] mortgage payment itself needed to be changed, and was changed over and above when she understood that. I normally would never ask this but late mortgage payments would have [-] effect on her refinancing [-] [-] out of [-] name, [-] ability to purchase in [-] future and most importantly it was having a crippling effect currently on [-] small [-] and ability to borrow money for inventory. I sent [-] plea in [-] email after speaking to both of them with no [-] and told them that I hoped they could be understanding that we take our obligations and credit seriously and [-] lates would portray that we had a blatant disregard for paying our bills and they of all people know we [-] not, otherwise they would not have given [-] [-] in [-] first place. Credit reporting is voluntary and [-] agencies are private and in no way run or controlled by [-] federal government. Banks [-] not have to report payment history at all and only [-] so for [-] benefit of a sense of punishment if a borrower is slow paying or doesn't pay. If a lender feels that a delinquency was a misunderstanding and not a true failure to pay [-] obligation they have every right and are in fact encouraged to correct reporting to reflect a more accurate picture of [-] borrowers ability to repay debt.
In [-] end, [-] bankers I spoke to (who are [-] specific people that report these lates to [-] bureaus each day) not only kept [-] 2 lates that were effecting [-] credit, but then went back and showed [-] delinquencies from [-] fall that had not been previously reported, now making it 7 x 30 day lates. I [-] never understand why a local bank who has [-] advantage of personal relationships with its clients would take actions like this. I was never rude and would be [-] to provide a copy of [-] email I sent to anyone on [-] fence.
In [-] previous [-] I was a fully delegated underwriter for [-] [-], FHLMC, FHA, VA and two other less known entities. In [-] 12 year experience as such, many times I had to look into late mortgage payments for this very reason and never once did I speak to a mortgage servicer for any of these entities that was so [-] bent on painting [-] inaccurate picture of a person's ability to repay debt simply for [-] fact that they could. If you want a bank that wants relationships, Fifth District is NOT [-] bank for you. I underwrote for large banks during [-] [-] and as large as we were, if someone called us with this request we would never hesitate to [-] everything in our [-] to give them [-] benefit of [-] doubt. Understandably, that was not ongoing but if instead we went back and made things worse, it meant we probably were not [-] right people for that [-]. From this experience, it is a good example of [-] poor performance comes from [-] top down and [-] bank as a whole needs to really examine what management is either allowing or condoning in its mortgage department.