Just to be clear, this review is not about any particular Valley National Bank. It is about the corporate entity running the whole show.
In early October, I received a letter indicating that VNB would be upgrading its systems, including those related to mortgage servicing. They changed the format of the monthly invoice for my mortgage (for the better). I received the invoice one day before it was due. This is not my complaint.
Due to the modification, my quarterly property taxes, which would have been paid from escrow near the end of October, were never dispersed. After calling their service desk I found out that they are *manually* processing payments. It is now Oct 18 has I have received a notice from my town that I am delinquent. I am trying to work this out with VNB currently to ensure my credit rating is not damaged.
Note to VNB's IT department: 1. Test your changes prior to releasing it. 2. Don't make a major change two weeks before property taxes are due.
Sigh read more