Consumer complaint received 2023-04-28
Company: TRUIST FINANCIAL CORPORATION
State: MD
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
I've had a mortgage loan with SunTrust, now Truist bank, since XXXX and my payments were on time. In XX/XX/XXXX I took advantage of the Covid-19 forbearance program for the first time, the balance of my loan before this was {$370000.00}. Additional deferred payments with the forbearance program were XXXX, XXXX, and XXXX. Meanwhile I made payments for XXXX, XXXX, and XXXX in fear of having to owe too much at some point ; I was not aware that there were options of repayment arrangements with the forbearance program. Most of the representatives I communicated with did not clearly have enough information pertaining to the program and there was lack of information from one agent to another. I attempted countless times to reach out to loan officers I was assigned to for guidance during the forbearance period, in order to better understand the program but without success ; calls and email were never returned/replied to. 
I inquired about the forbearance program again in XX/XX/XXXX, I was informed that I could still take advantage of the program and that the payments will be pushed at the end of the loan term as lump sum or payment arrangements just like the first 4 deferred payments ; information I was told was incorrect afterwards, but they could not correct that. Consequently, my 30 year mortgage loan ended up being modified to a 40 year loan, hence extended finance charges even though the new rate was slightly lower than the original rate. 

I also had numerous questions during and after the loan modification, pertaining to the new loan balance and to some transactions, none of the agents seemed knowledgeable enough to answer my questions ; I was advised over and over that an agent in the home preservation department or the assigned loan officer would contact me, no one ever did, and my calls/email were in vain. 
On the other hand time sensitive documents, including trial payments paperwork were sent via regular mail and lost in the mail a couple of times. The entire process with SunTrust was complicated, time/energy consuming, and truly stressful. Many times I would call and be placed in a call back queue, but when I got a call back the representative would be quiet on the phone pretending not to hear me even though I heard noises from their end, and then they would hang up on me. 
I resumed mortgage payments in XX/XX/XXXX, initially with " 3 trial payments '' then, regular payments with loan modification, which in itself was a super long process and exhausting as well. The regular payment resumed in XX/XX/XXXX and the loan balance then increased to {$390000.00}. Ive attempted to review the new balance with a loan officer to get details of the {$17000.00} difference to no avail. 

In XX/XX/XXXX Truist transferred my mortgage loan to XXXX XXXX XXXX XXXX based in California. My thoughts were that that move was a camouflage in order to cover up the mismanagement of my loan. Prior to that I thought of contacting the Consumer Financial Protection Bureau several times about my experience with SunTrust/Truist bank in an attempt to get assistance but due to busy schedules I was not able to ; and when the loan got transferred to XXXX, I became reluctant thinking it might be complex since they no longer had the loan. However, when I received the 1098 with a XXXX discrepancy in the outstanding mortgage principal reported and I called but the representative I spoke with couldn't explain where the discrepancy came from as usual, that triggered me to take a course of action - I felt like that was another confirmation that SunTrust/Truist mishandled my mortgage loan. I did receive an updated 1098 in the mail, but as per usual without an explanation as to why there was a discrepancy ; I was promised a call for an explanation, but I did not receive any thus far. Recently, I received another notice that my mortgage loan was being transferred from XXXX XXXX XXXX XXXX to another company by the name of XXXX XXXX XXXX XXXX again starting XX/XX/XXXX, out of the blue. The notice came after XX/XX/XXXX, and I my XXXX payment was made to XXXX on XX/XX/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