Consumer complaint received 2017-04-08
Company: SUNTRUST BANKS, INC.
State: FL
Product: Mortgage
Sub-product: Home equity loan or line of credit
Issue: Loan servicing, payments, escrow account

Complaint:
I received funds from the total loss of my home in the form of a check made payable to me and Suntrust Bank, because I owed an equity line of {$60000.00}. I spent two hours on Friday, XX/XX/XXXX trying to find out how to deposit the check, pay off the equity line and receive the remaining money into my account the quickest way possible, since I have to have the house demoed in a timely fashion in order to be in compliance with code enforcement. I left that day with the check still in my hand and no resolution, due to the fact that the man trying to help me was trying to force me to sign an affidavit that I was rebuilding the house, when I am not. The next day, Saturday, XX/XX/XXXX I spent another 1 1/2 hours in another branch of the bank with a very helpful man , XXXX XXXX. I described to him what had happened the day before and he called someone from what I believe was a corporate office help center and received instructions on how to handle the check. My main concern was that the funds would not be held up, I stated this several times. I even went so far as to say that if the funds were going to be held up that I would have the insurance company reissue the checks in order to prevent that. XXXX XXXX was assured by a man named XXXX XXXX that the process would be completed by Friday XX/XX/XXXX and I would have my funds directly deposited into my checking account. Again I was told to sign the affidavit that I had refused to sign before because I am not rebuilding the house. XXXX XXXX resolved this by having me write a letter about what my intentions were about the house. The bank paid off the equity line on Thursday, XX/XX/XXXX, along with charging me over {$500.00} for paying it off early and a {$10.00} service fee for what I am still not sure. I called Thursday and spoke to XXXX XXXX who said she was looking at the screen and my funds would drop in the nightly postings that night, and would be available in my account on Friday as I had originally been told. The remaining funds were not put into my account as promised, even though I had now been told by 3 people that they would be. When I called to find out what the problem was I was told that my funds had a 10 " banking day '' hold on them and would not be available until XX/XX/XXXX! Suntrust deceived me into handing over a check for {$170000.00} for a loan of {$60000.00} by telling me over and over that I would have my money by Friday, XX/XX/XXXX, when apparently every one of them know that they were lying to me! All of my phone conversations were supposedly recorded so I am sure that you can pull up the records and listen to several people deceive me into depositing my check with you, instead of having the checks reissued. Being in my home when the fire started on my porch and watching it burn for 20 minutes waiting on firefighters was devastating, but my insurance company issued me a check on the 2-week anniversary of the fire. Suntrust on the other hand deceived a customer of almost 25 years and will have control of my money longer than the insurance company took to pay off on my loss - that is insane! This is a perfect example of your company deceiving someone that has been a loyal customer, that suffered a devastating loss, and that would have remained a customer indefinitely. I am appalled by the lack of concern for me as a customer, and the ease in which people in authority were able to lie to me knowingly!

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation