Consumer complaint received 2022-11-09
Company: TRUIST FINANCIAL CORPORATION
State: FL
Product: Mortgage
Sub-product: Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process

Complaint:
On XX/XX/XXXX XXXX we applied for a home equity line in the branch with XXXX XXXX. While the bank was still BB & T. 
On XX/XX/XXXX We had to go back in and resign paperwork for home equity line of credit in the branch with XXXX XXXX. We were we were advised that BB & T was merging to create a new company called Truist Bank. We were told to expect a new online platform and mobile app coming very shortly. 
On XX/XX/XXXX we also opened a personal checking account so that we could make payments to the home equity line of credit from there. We also were advised that we could fix our interest rate at any time during this process I just needed to come into the branch and let them know. 
We took advances against the XXXX Acct # XXXX on XX/XX/XXXX for {$50000.00} XX/XX/XXXX for {$25000.00} XX/XX/XXXX for {$37000.00} For a grand total of {$110000.00} ever borrowed against this line. No future draws were ever made, just payments from here on out in the amount of {$12000.00}. 
On XX/XX/XXXX we visited the Truist branch ( XXXX XXXX XXXX XXXX, XXXXXXXX XXXX  XXXX ) to lock in {$100000.00} to be a fixed rate 4.25 % with XXXX XXXX, Relationship Banker, phone XXXX, XXXX. We signed papers and thought everything was good to go. 
XX/XX/XXXX We discovered that Truist had two lines of credit being reported to our credit bureaus saying we were carrying a balance of approximately XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX We visited the branch again with XXXX XXXX, he advised he would open a ticket for us. No response, no fix, no communication. 
XX/XX/XXXX We received a refund check from Truist for acct XXXX XXXXXXXX overpayment in the amount of {$960.00}. We visited again with XXXX at the branch, bringing the check with us. We had the manager come over and meet with us ( XXXX manager, didnt get her name ), and she advised us to deposit the refund check into our checking account. She even wrote up the deposit for us. 
The check was then bounced back as a stop payment on XX/XX/XXXX ( see attached A ) and we were charged a bounced fee of {$12.00}. ( THIS IS A CAUSE OF A LOT OF THE MISAPPLICATIONS OF PAYMENT, BUT I WILL ADDRESS THAT LATER ). EXHIBIT XXXX XX/XX/XXXX That same visit with XXXX and his manager resulted in an incident number of XXXX. He was going to have them fix the two accounts issue, and credit back any weirdly applied payments resulting from having XXXX accounts, not locking in the fixed amount on XX/XX/XXXX as they should have, and we were assured our problems would all be fixed. 
From there it has been a nightmare of applied payments, misapplied payments, crazy interest applications, multiple incident reports opened, etc EXHIBIT XXXX On XX/XX/XXXX, I emailed XXXX regarding our credit report, and asked that Truist cease and desist derogatory credit reporting as it was fraudulent until they could straighten out our account. EXHIBIT XXXX  On XX/XX/XXXX, I emailed XXXX, still having problems with application so I sent him a simplified one with showing our payments and estimated interest. No response. 
On XX/XX/XXXX, I emailed XXXX to see if he received my email, he responded he had. 
On XX/XX/XXXX, I asked if we could go over it, he responded it was best to contact loan department at headquarters directly. 
** Email correspondence EXHIBIT XXXX On XX/XX/XXXX I spoke with XXXX regarding applications of payment at your headquarters loan department. She understood everything I was trying to explain to her and said she would apply those accordingly. 
On XX/XX/XXXX I got a voicemail ( which I still have on my phone ) from XXXX detailing that her application of payment created a past due account on XXXX and that she was escalating it to case XXXX XXXX XXXX for them to research further because she knows that it was incorrect cause XXXX to go negative. 
On XX/XX/XXXX we got a notice from our credit bureau that there was a hard inquiry from Truist bank that we had not authorized on our credit report. EXHIBIT XXXX On XX/XX/XXXX we got a notice from our credit bureaus that our credit score had dropped over XXXX points for a severely delinquent account which turns out to be Truist HELOC XXXX which should have a XXXX balance. We also were removed from access to this account online period by Truist. 
On XX/XX/XXXX We immediately contacted Truist regarding both of these issues and were told that the XXXX XXXX XXXX XXXX had never been submitted correctly and that they were opening a second escalation ticket of XXXX XXXX. Also they were going to open a separate computer ticket XXXX to get us access back to our account within XXXX hours. 
It is now XX/XX/XXXX and we have no access to our accounts still.

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