Consumer complaint received 2021-04-07
Company: REGIONS FINANCIAL CORPORATION
State: TX
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Applying for a mortgage or refinancing an existing mortgage

Complaint:
I have been trying to get my home refinanced with Regions Bank since XX/XX/XXXX and I continue to get the run around. I have provided them with all the information they asked for within 48 hours of asking but I still haven't gotten my home refinanced. hey continue to stall using all kinds of excused from COVID-19 to employees resigning but I still haven't gotten a loan. They are going into my bank statements, questioning my spending habits and asking why I am spending money on different things. I don't believe its any of their business how, when and why I spend my money and I believe that is a direct violation of my privacy. I also don't believe they do it to anyone else. I believe there is some discrimination going on here. I want to know and see if they do this to everyone that applies for a loan from them. I don't believe that they do. I have a hard money loan with a balloon payment that is way past due. Dealing with Regions bank has caused my incumbent lender XXXX XXXX XXXX to accelerate my note as of XX/XX/XXXX. They have put my house up for foreclosure and auction as of XX/XX/XXXX. Now I have Regions Bank asking for my mortgage history for the third time after I have already supplied it to them. They know my note has been accelerated and I am not allowed to make monthly payments as of XX/XX/XXXX. That means I got late payments now and they can withdraw my application. They are trying to force me to sign a document that would give XXXX  my loan information. Then XXXX  will publish that information with the credit bureaus and this will ruin my credit. I asked them several times will this get reported to the credit bureau 's and what is the ramifications of signing that document and they won't tell me. I gave them two different payoff docs from XXXX XXXX showing what my payoff is and they won't accept it. I have a loan with a hard money lender because I don't want that information on my credit report. I should not be forced to supply it to a third party vendor like XXXX. That is wrong and I believe it violates my rights. I wouldn't have any lates if they would have processed my loan in the 90 days that is customary. They are just looking for a reason to cancel the loan application. It is not my fault and all theirs and I want something done about it. I believe they have really crossed the line with discrimination when it comes to this application and the use of the Dodd Frank Act and I want something done about it. I would like for you to look into my issues and make them prove that they treat every borrower the way they have treated me. I find it hard to believe that they give everyone this complete run around and everyone has to wait 7 months or more to get their refinance loan processed. Especially, when Regions Bank already has a active HELOC in place on the home with me. By the way, I have never used the HELOC. Regards, XXXX XXXX

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