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TD Bank Mortgage


Escrow/Mortgage Payments

Complaint Rating:  95 % with 19 votes
95% 19
Contact information:
TD Bank
New Jersey
United States
This is my first ever written complaint to any forum of any such, but I am so disgusted by TD Banks lack of competency that I feel obligated to warn others. DO NOT DO BUSINESS WITH TD BANK!!!

I refi's my mortgage with them because of a great rate less then a year ago and I have regretted the decision from day one! First off it started with an application process and final approval that lasted nearly 3 months..UNREAL! The incompetency alone on the process was mind boggling and I had to stay on top of everything, finding numerous errors in the contract on paperwork, I should have known what I was in for from the get go.

6 months ago I received a deliquency notice from my Township that my taxes had not been paid...they are escrowed and supposed to be paid by TD Bank. My account shows that my escrow money was in fact distributed for payment, but guess what..it paid someone eles's taxes!! Unreal, they fixed it, but it was a headache.

Then last month I get a deliquent notice from TD Bank that my mortgage had not been paid. I have NEVER missed a mortage payment because the money is auto-debited from my TD BANK ACCOOUNT!! Apparently, they had a system problem, messed up by auto-transfer and never told me anything! Fixed, but another headache.

Now yesterday I received another deliquent notice from my tax office, YES AGAIN, my taxes weren't paid, yet the money has been sent somewhere!! This is crazy, I have never been so aggrivated and annoyed at such incompetency. This company does not deserve to be in business if they cant get these simple things correct. If it wasn't going to cost me money and valuable time to change companies I would do so in a heartbeat, but since it will and Im not willing to spend more money, the next best thing is to warn the person next in line!! Do yourself a favor and stay away from TD Bank and their incompetence.

Complaint comments Comments (12) Complaint country United States Complaint category Mortgage Companies
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 29th of Jul, 2010 by    0 Votes
Ditto on everything- complete incompetency . They qualified us but after 4 months have failed to close, and now are charging us fees!
 9th of Sep, 2010 by    +1 Votes
I wish I had checked these complaint boards before I applied for my refinance.
They have changed the closing date 3 times and keep referring to the fact that they have 90 days for the lock.
Who cares about the lock if you cannot get the closing??
The people there seem uneducated, cannot write a simple grammatically correct email and are rude.
They talk over me...a paying customer. I mean I know they are lending me the money, but aren't they going to make tens of thousands off the deal. Where is the service? My"loan processor" aka GEDeena apologizes that they are not meeting my expectations. I said, excuse me...you are the ones setting the expectations then changed them. All they have left to do is verify our 1040's which they have now had for over a week. GEDeena even states that they do not have much purchasing business. Why aren't they reallocating resources if they are so over whelmed by refi's.
We are credit exemplary people with scores in the 800's and looking to refinance with cash out for a home for which we have almost 100% equity. If they don't want my business...whose do they want?
I took out a home equity loan 6 years ago. It went off without a hitch and was over in weeks. Something in this latest merger brought in a wave of inefficiency, inefficacy and sheer inability.
 6th of Oct, 2010 by    +1 Votes
I completely sympathize with you. We applied on 8/18 for a refinance and didn't get a decision until 9/6. Didn't receive package from them until a week later. Closing was originally supposed to be 9/18. Home appraisal was done and submitted on 9/8. Without any communication, closing was changed to 10/18. Never received a phone call from loan processor, original documents were wrong, submitted everything on the "to do" list right away. Still no communications from loan processor. I log in and check our status on the website last week, and there's a bunch more things added to our "to do" list that weren't in the letter. Of course, we received no phone call, email, etc., that they needed anything else. Some things we have submitted 3 times already. If I hadn't checked, it would have gone on forever and we'd be twiddling our thumbs waiting to hear. Loan processor is completely unresponsive to anything, and won't commit to a closing date. Says everything is in underwriting. This is the WORST mortgage experience ever. We both have credit scores of 800+, have 6 figure salaries, and a great deal of savings. Only financing 50% of our home's current value. Ideal customers.

Will NEVER, EVER recommend TDBank to anyone - completely incompetent and horrible customer service.
 3rd of Sep, 2011 by    +2 Votes
We are first time home owners and never really thought we would have to worrie about TD...Well weren't we wrong. We have owned the home for 1 year and 1/2 and had nothing but problems with TD. First was our down payment in which they took the taxes and two months from, which made our downpayment lower and made our home amount owed even higher. Now the issue is that TD claims they sent us a letter stating that our taxes are behind??? If I must say, what kind of a bank under pays the taxes? Well we were not just going to pay something that didn't make any sense what so ever. We looked into it...Funny thing we over paid and by alot. But TD didn't want to agree to that in fact the amount they took in the begining plus the year of payments we maid, over paid till this year. But they claim we never paid...Thank God we used Scotia to do our banking! Infact a word to the wise...!!! USE ANOTHER BANK AT ALL TIMES!!! ONE VERSES THE OTHER! THEY ALL WANT YOUR BUSINESS AND WILL FIGHT TO GET IT! This may be a battle TD isn't expecting!!! Signed JJ
 16th of May, 2012 by    +1 Votes
I have had problems with TD Bank. First I locked in at an interest but when paper work came rate was higher. Then I received notice that my monthly payment was increasing by about $600 a month or $7200 per year claiming my taxes increased when in fact I had my taxes lowered. I had to spend time and energy proving my taxes were lowered which I don't understand because the bank was paying the taxes and in possession of tax records. Lastly, when I made my loan I was told I could modify loan and the fee would be .005% on the principal balance. When I went to modify I was told fee is 1.25% of principal balance. When I protested I was told "too bad". I filed a complaint with banking department and will be commencing a lawsuit for fraud.
 14th of Jun, 2012 by    0 Votes
I just got a loan rejection letter from TD due to the reason the condo I am purchasing does not meet their loan guideline (less than 50% owner-occupied). I have no problem with the reason, but I have problem with the application process. It took almost 25 days for them to sort this out. The guideline thing should be the first set of questions to ask before even I should start the loan. This notice came when the appraisal is done, credit check is done and lawyers have been working on the issues (means there are a lot of fees I have to pay). I am actually not working with a live person because my calls always go to voice mail and never return my calls. The system generate some notifications and send to my email, but those request for documents which I already supplied a while ago. Imagine to work with a robot for your application.

They are so unprofessional and lack of order of business. When I tried to complain about this, no one want to hear about it. The # provided in the rejection letter simply go to their general sales line and need to transfer numerous time to reach to someone has no clue about what is going on, eventually they gave me an email, as you can guess, I wrote a long letter and it went to a black hole...

Do not apply your loan with TD bank, they simply not qualify to process a loan. They do NOT care about how you feel, they just try to follow a procedure which is already broken. if you are lucky to get loan, from what I read here, can create more nightmares. I now feel lucky my loan got denied so that I do not have to deal with them in the loan payment process.

I will file more complains with their regulators. We as customer should deserve at least some respects!
 28th of Nov, 2012 by    +1 Votes
They have just update there mortgage website. The biggest complaints I have heard from people has been payments out to the town taxes. There new website has no information on escrow information. It does not show you the current balance of your escrow. It does not show you how your payment was split between escrow, principal, and interest. Calling this isn't much help either. TDBank, your new online website is crap. You need to have escrow information available to your customers.
 24th of Dec, 2013 by    +1 Votes
Worst bank to work with is TD bank. I opened an application for mortgage. Thy initially approved me. They trapped me with their competitive rates but after working with them for 4 months they can not close the house.
If you talk to their staff they will tell you different thing at different time.
I have done at least 10 closings but working with TD is a mess. They will make you pay for appraisal than thy will request engineering inspection (you have to pay out of your pocket) then they will not be able to meet the deadline imposed by the sellers bank. Big mistake really big mistake going with TD.
 7th of Apr, 2015 by    +1 Votes
 9th of Jun, 2015 by    +1 Votes
I've been fighting with them since 2011 because of their lack of record keeping. I've even filed a complaint with the Dept. of Currency and it was dropped because TD claims their records are right. I've been to my local branch many times to resolve this and it's sad the manager there doesn't even know what's going on, nor understand it (last one has been doing this over 23 yrs, ) I contacted an attorney who told me any legal action would be at my expense and I can't get reimbursed even if they're proven wrong. It doesn't matter that I have reeipts for payments they don't have record of. They just don't care. I don't know what I'm going to do, I am totally frustrated. I do know I am doing something..STAY AWAY FROM THIS BANK or you will regret the problems you will have.
 2nd of Jul, 2015 by    +1 Votes
Yes I also regret having a second mortgage with them, right now I paying about 800.00 a month even after I payed down half of the home-equity. I was just told I just pay it off quicker . They change the story every time you call only to get more money and it to there benefit.
 22nd of Jul, 2015 by    +1 Votes
They are the Worst Incompetent Lying Bank in the World. After my 87 year old father became ill with 3 near death illnesses in as many years he became behind in property taxes on his home of 57 years. Unbenounced, TD Bank directly paid outstanding propertyy taxes to the City and added it to the HELOCK line of credit. They sent a letter stating they had added this amount to the credit line and he could pay it back at any time. They then took a payment at the new rate but for some reason the auto withdraw payments had stopped. It took 2 1/2 months to get a straight answer from them and now 6 months later they are demanding 8500 immediately or they will for close.and they say he is in arrears 6 months yet he has never missed a payment. They lied up and down and have intentionally steered him into forclosure despite his extraordinary situation and despite they never missed a payment
My dad is a feeble 87 year old who has lived in this home since he had it built in 1958. They refuse to amortorize the new HELOCK (Mortgage) amount despite federal regulations stating they must . They made me drag him into the bank from his sick bed to apply for a new mortgage only to refuse him. Never Ever Deal with this bank in a Mortgage . They have put 2 disabled chronically ill men in jepordy of being homeless.
but they never missed a peny

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