Date Received: 2021-01-19
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: https : //complaint.consumerfinance.gov/submit-a-complaint/s/ I am a single mother who has been saving for many years to buy my first home in order to provide a stable environment to raise my son. I applied to Truist ( Now BB & T ) and was preapproved for a loan. I was finally able to find a house that I could afford, and on XX/XX/2020 I was excited to sign an agreement to purchase a home in XXXX, KY. The agreed-upon closing date was XX/XX/2020. After signing the purchase and sale agreement I contacted my loan officer and provided updated documentation of income and assets, along with a check for {$500.00} for the appraisal fee. The loan was in process and I provided all of the needed documentation to complete the loan. It wasnt until the last minute and weeks after already extending the closing date because the loan officer realized that I couldnt use a chip loan for this home, in the beginning I did make sure it would be ok before going they with this property and she reassured me that it would qualify, they then had to start over with an FHA loan. After being told another closing date of XX/XX/XXXX, and waiting a whole month again, the week of closing I was told that there was a problem, and that FHA required that the seller own the property for at least 90 days before it could be re-sold and financed FHA, and that I would have to sign a new purchase and sale agreement after 90 days and then the loan couldnt close for 30 days after that. After the 90 days, as we were getting ready to re-sign the agreement, I was told that FHA would require a second appraisal. At this point, the seller backed out, and I not only lost the house, but adding insult to injury, I lost my {$500.00} appraisal fee. After researching the situation, I learned that this is a fundamental requirement of FHA that the bank should have been aware of from the beginning. The preliminary title report would have disclosed this information and the bank should have notified me before ordering the appraisal. Furthermore, they should have known that a second appraisal would probably be required so that we could prepare my seller for that likelihood. I am very upset at the way this situation was handled, and they were very unprofessional about the situation, I did contact the branch manager XXXX and left several voicemails and have waited and given plenty of time for him to contact me back, but he has not returned any of my calls. He did reassure me towards the end that everything was going to be ok and I wont loose the house. I feel like they did not do there job to help me like he said he would, he and the loan officer were very unprofessional! for that likelihood : FHA prohibits FHA financing on properties that were acquired by the seller within the previous 90 days, in order to prevent " property flipping. '' ( " Property flipping '' happens when a recently acquired property is resold for a considerable profit with an artificially inflated value. ) FHA will not insure a mortgage if the sales contract for the purchase of the property that secures the mortgage is executed within 90 days of the prior acquisition by the seller, and the seller does not come under any of the exemptions to this 90-day period specified below. The following guidelines apply : It is acceptable to re-execute the purchase and sales agreement to meet the 90-day rule. A copy of the re-executed purchase and sales agreement at day 91 or later must be included in the file. If this is not in the file at Underwriting, it must be listed as a U condition. The appraisal does not need to be re-ordered or corrected to reflect the updated purchase and sales agreement and a new case number does not need to be requested. The Conditional Commitment and the final approval docs must be dated after the re-executed purchase and sales agreement. For resales that occur between 91 and 180 days : Obtain a second FHA appraisal by another FHA Appraiser if : the resale date of a Property is between 91 and 180 Days following the acquisition of the Property by the seller ; and the resale price is 100 percent or more over the price paid by the seller to acquire the Property. If the second appraisal supports a value of the Property that is more than 5 percent lower than the value of the first appraisal, the lower value must be used as the Property Value in determining the Adjusted Value. The cost of the second appraisal may not be charged to the Borrower. I believe that Truist should have informed me and the sellers about this requirement in the early stages of the loan. Their incompetence caused me to lose the home. I feel that they should refund my appraisal fee and report fee in return so I can continue on my search. Thank you, XXXX XXXX XXXX XXXX XXXX XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: KY
Zip: 42066
Submitted Via: Web
Date Sent: 2021-01-19
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-18
Issue: Managing an account
Subissue: Problem using a debit or ATM card
Consumer Complaint: I was ill XXXX symptoms XX/XX/2021. A bit recovered within last two days, I noticed, cyber hacking of home central devices, Missing electronic such as laptop, my accounts had been compromised, I immediately contacted my bank to reduce further loss, reported this to local then to federal cyber and identity crime enforcement. I provided the Merchant that I could reach and my bank with transactions and detailed affadavit and report number. I advised the funds of the account was federal issued fumds for self support, and it is crucial to the quality of life under such circumstances that I can remain healthy to the affordable care in which the Veterans benefits provide. This is the second amount in such circumstances involving Branch and XXXX which a foreign entity I reported here after not receiving a fair disposition of credit that will cause me to suffer for security failures and what's legally the duty of the Merchant to assure the extra measures are in place for transactions it allo to happen on. its platform with out the physical card for inspection and fraud prevention. Although the investigation is ongoing it remains unresolved with funds not yet being submitted as only a temporary necessity.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TN
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-01-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-18
Issue: Opening an account
Subissue: Unable to open an account
Consumer Complaint: I am having an issue opening up a checking account with Sun Trust Bank online. Sun Trust Bank is discriminating against me by denying me credit, not allowing me to open up a checking account and discriminating against me based on my race, me being XXXX XXXX ( XXXX ). Sun Trust Bank is in complete violation of the 1974 Equal Credit Opportunity Act ( ECOA ) under federal law. Full Name : XXXX XXXX XXXX, DOB : XX/XX/XXXX, SSN : XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MN
Zip: 55343
Submitted Via: Web
Date Sent: 2021-01-25
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-18
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: I have just checked my credit reports within XXXX XXXX XXXX XXXX. On XX/XX/XXXX BB & T reported my on-time payments for XX/XX/XXXXthru XX/XX/XXXXXX/XX/XXXX. However, when I checked my credit reports, on XX/XX/XXXX, for XXXX XXXX XXXX XXXX XXXX, the reports showed that BB & T removed the receipts of my on-time payments for XX/XX/XXXXthru XX/XX/XXXX. On XX/XX/XXXX, BB & T reported to XXXX, XXXX XXXX XXXX that my last mortgage payment was onXX/XX/XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33813
Submitted Via: Web
Date Sent: 2021-01-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-18
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XX/XX/XXXX we sold our house in Texas. We had an escrow account and SunTrust our mortgage company was suppose to pay us the balance. They have 30 days to send us the funds and we still have not received them. The only letter received was dated XX/XX/XXXX stating that the check was returned die to the wrong address. They sent it to the house in which we sold. We leased back the house until XX/XX/XXXX. Then forwarded our mail. My complaint is that they have kept my money XXXX XXXX XXXX entirely to long and have not been compliant according to the law. They have given us the run around. We have contacted then 3 separate times. Please follow up on SunTrust and their misleading practice of reimbursement of escrow.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 76132
Submitted Via: Web
Date Sent: 2021-01-18
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-15
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: Dear Sir or Madam I am writing to dispute the following information in my credit file. The car loan with Regional Acceptance Corporation was pay off by my insurance in 2018 due to my car being declared a total loss. I call Regional Acceptance Corporation last week to ask why we have late payments on the account. The representative told me that I needed to make payments even if the car was declared a total loss. I am asking you to please reconsider to take these late payments off the account. We had the car for almost two years, and we never had a late payment. The account now is pay off and closed.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: TX
Zip: 77036
Submitted Via: Web
Date Sent: 2021-01-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-15
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: which ever the bank name you are these days is showing MULTIPLE charge offs. I was always under the impression that once charged off that was it, it is charged off? I will also be contacted the Federal Banking Regulators among any other company or federal complaint line that I can find to file these fraudulent and fcra infractions that you have been reporting and accepting as valid. Your information is incorrect in ALL THREE BUREAUS. They must be the same. For XXXX - SHEFFIELD FINANCIAL Acct # XXXX - Date opened incorrectly shown as XX/XX/XXXX, should be XX/XX/XXXX. This account is a charge off and is linked to BB & T ; BB & T bought Sheffield financial. There should be no interest accumulated on this charge off, date of last payment was XXXX, XXXX. This is scheduled to fall off my credit report in XXXX. For XXXX - SHEFFIELD FINANCIAL Acct # XXXX - Date opened incorrectly shown as XX/XX/XXXX, should be XX/XX/XXXX. This account is a charge off and is linked to BB & T ; BB & T bought Sheffield financial. There should be no interest accumulated on this charge off, date of last payment is XXXX, XXXX. This is scheduled to fall off my credit report in XXXX. For XXXX - SHEFFIELD FINANCIAL Acct # XXXX - Date opened incorrectly shown as XX/XX/XXXX, should be XX/XX/XXXX. This account is a charge off and is linked to BB & T ; BB & T bought Sheffield financial. There should be no interest accumulated on this charge off, date of last payment is XXXX, XXXX. This is scheduled to fall off my credit report in XXXX.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 287XX
Submitted Via: Web
Date Sent: 2021-01-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-15
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Their investigation did not fix an error on your report
Consumer Complaint: I was shocked when I reviewed my credit report this week and I found multiple inaccuracies on my credit report from the 3 major credit bureaus from a collection company that I never have dealt with before. I've attempted several times to ratify the issue with the original creditors and credit bureaus and they still reporting inaccurate, unverifiable information. I have disputed this item with the credit reporting agency and they reported you confirmed the account as valid. I honestly do not believe to ever have any relationship with this collection agency or original creditor. Also there are several inaccuracies with this account the way it's reporting and that's a total violation of FCRA and FDCPA laws and regulations. In a good faith effort to resolve the matter amicably, I must demand proof of this debt, specifically the alleged contract or other instrument bearing my signature, as well as proof of your authority in this matter. Absent such proof, you must correct any erroneous reports of this past debt as mine. I am writing to request that you please provide the following information : 1. Please evidence your authorization under 15 USC 1692 ( e ) and 15 USC 1692 ( f ) in this alleged matter. 2. What is your authorization of law for your collection of information? 3. What is your authorization of law for your collection of this alleged debt? 4. Please evidence your authorization to do business or operate in this state. 5. Please evidence proof of the alleged debt, including the alleged contract or other instrument bearing my signature. 6. Please provide a complete account history, including any charges added for collection activity.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: AL
Zip: 360XX
Submitted Via: Web
Date Sent: 2021-01-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-15
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I submitted this XXXX, it was not resolved by the company, and I am asking for compensation again. I am very dissatisfied with BB & T and their unwillingness to resolve this issue for me. I demand the financial compensation that I am owed of {$690.00}, listed below. I am more than willing to speak to someone on the phone or email regarding these issues. Laws were broken, and need to be compensated for. Upon working with XXXX XXXX XXXX BB & T in XXXX, VA for my loan application and home buying process, I encountered the following issues, and would ultimately like to receive financial compensation for these wrongdoings. 1. I did not receive a loan commitment letter within 30 days of my loan application submissions 2. Extremely poor communication and delays that resulted in closing 17 days later than projected - this was not communicated with me until close to the end of XXXX and I was projected to close XX/XX/XXXX. This caused delays for my seller, as well as my sellers seller for their deals. This also resulted in my paying my rent at my apartment for an additional 15 days since I could not move out on the original planned date of XX/XX/XXXX, and had to change it to XX/XX/XXXX, which cost me {$420.00}. I would like financial compensation for this. 3. Additionally, XXXX XXXX was not specific on what verbiage my mother ( who gave me a gift letter for part of my closing funds ) should use on the gift letter. My mom wrote {$4000.00}, just making sure this would be enough to cover everything. The offer that was accepted denoted that the seller would pay {$2500.00} in closing costs. Since my loan was a USDA loan, and it was written that my mother would gift me {$4000.00} ( since Sue did not specify how we should write this ), the seller ended up only paying {$22000.00} in closing costs, because USDA specifies that I can only receive up to {$1000.00} back after closing. Therefore, my seller got out of paying {$270.00} that was owed to me according to my offer that was accepted and signed. I would like this amount financially compensated as well. 4. I have been nothing but disappointed in the customer service and communication I received from BB & T on these matters. It made buying my first home a very unenjoyable process.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: VA
Zip: 228XX
Submitted Via: Web
Date Sent: 2021-01-15
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-01-14
Issue: Managing an account
Subissue: Problem using a debit or ATM card
Consumer Complaint: I have been with BB & T since around XXXX of 2019. I opened a checking account with them. First I had the Bank Manager at that time to notarize a document for employment. She didn't do it correctly. I took it back to find out that she had retired. The new XXXX XXXX XXXX refused to notarize the document when I said to him, you're making the same mistake that she made. He then said that he didn't have to do it, and didn't. I filed a complaint with the Bank. Nothing was done. Then my debit card started getting denied. They tried to say it was suspicious activity. I shop in the same XXXX XXXX XXXX to 3 times a day. I felt discriminated against because I am a XXXX woman and the Manager is XXXX The Bank did nothing about my complaint. Now I feel as if I am being retaliated against. I have spoken to the Fraud department more than 3 times in reference to them blocking my card. There is no way they truly suspected fraud. I have Bank statements that show just how much I am in the same XXXX XXXX. Now it also feels like harassment. All of my complaints with the Bank has fallen on death ears.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NC
Zip: 28214
Submitted Via: Web
Date Sent: 2021-01-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A