Consumer complaint received 2023-09-14
Company: TRUIST FINANCIAL CORPORATION
State: KY
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage
Sub-issue: Delays with the closing process

Complaint:
I was looking forward to buying a house so I decided to apply for a mortgage with my bank. Truist. They referred me to a loan officer called XXXX XXXX XXXX. She immediately sent me a pre approval with good numbers and good rates, so I started the process of looking for houses. I saw more than 30 houses and sent 3 offers, till one finally got accepted after 1 and a half months of research. I paid my deposit money, an extensive inspection with extras to make sure it was the perfect house for me, I paid the house appraisal and got a date for closing. Then this banker called me saying it was all a mistake and after her supervisors reviewed the documents again, they realized they couldnt approve me for said amount because my bank account statements were not stable, as I am a server and I make tips, some days, good some days bad. Then my transaction fell thru. They told me if I could find a co-signer it would definitely work, so I spoke to my mother, who is a self employed business owner in XXXX. The house owner agreed to wait for us. My mom rushed to send her documents ( taxes, bank account, etc ) and they said that was enough. I got another date for closing and it got cancelled again. They reason was, they still needed more extra documents from my mother. Every day of the week they would call me asking for 1 extra paper they didnt know about. They didnt consider there was a 12 hours difference from here to XXXX . They requested extra official documents that cost my mom time and money, she had to travel all the way to the city to request them and then mail them to the United States. My mom was unable to travel to the states to complete the transaction so she also needed to pay someone to made an official document saying I could sign for her to obtain the house. They told me after that paper arrived to the USA, we could definitely close the deal, after 3 long months waiting on them. I finally received all the documents they requested, and I was supposed to be closing. However XXXX XXXX called me this morning to say that still, even tho I have a co-signer, I waited 3 months and I sent all the documents, they have denied my loan application. I didnt just lose gas trying to find the right house, also my time, the realtors time, the house owners time. I also lost the money that I paid for the inspection, the appraisal and the deposit money. My mom lost the money she spent traveling to the city to get and submit her official documents to United States. I told my landlord, I would be leaving the apartment im renting soon, because they promised me i would qualify for this house until the very end, so now I need to find a new place to rent soon or I will be homeless. The truist bank team was totally unprofessional. They pre approve me and promised me the purchase would go thru without reviewing all my information completely first. It was all a lie and it affected my familys life completely. They were always passive aggressive during the phone calls, always had a bad attitude. XXXX XXXX, from truist bank mortgages was completely unprepared and she had XXXX knowledge to work with this type of loans. Instead of helping, they almost destroyed my life and all the plans that I had for the future.

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