Consumer complaint received 2020-01-26
Company: SUNTRUST BANKS, INC.
State: GA
Product: Mortgage
Sub-product: FHA mortgage
Issue: Struggling to pay mortgage

Complaint:
SunTrust 's letter dated XX/XX/XXXX adds another violation to various federal and state laws and regulations. Again, you are violating the order and instructions contained in United States v. SunTrust Mortgage , Inc. ( XXXX ) Case XXXX, too. SunTrusts interests actively rests in its liability for all fraud and violations from XX/XX/XXXX to XX/XX/XXXX, plus the continuing deception since that time. The matter is not closed as the statute of limitations remains active for various violations. 

Again, you knowingly and willfully avoid responding to the pertinent violations below. Your comment that the appraisal used when you purchased your home supported its purchase price reveals the negligent and criminal activity. In fact, SunTrust employee, XXXX XXXX XXXX XXXX, confirmed the inaccurate valuation through her validation that cost approach was used on new construction in a volatile market, a blatant violation of FDIC rules. Again, SunTrust confirmed this valuation fallacy. Please refund my {$150000.00}. 

The mortgage balance in all the accounts history was inflated in several instances including, but not limited to, the XXXX complaints, XXXX XXXX loan modification offer, and XXXX foreclosure proceedings. The inflated mortgage balance occurred due to the uncorrected mortgage issues based on the following illegalities, fraud, and/or violations : 1. Appraisal was illegal. You possess the document that clearly shows the illegal conflict of interest. Because the appraisal was illegal by the SunTrust Mortgage broker, the real estate contractcontaining an appraisal contingency -- and subsequent mortgage note was null and void. An appraisal performed by the spouse of a SunTrust Mortgage broker is fundamentally, technically, and outright illegal. SunTrust only confirmed he was licensed. 

This mortgage fraud and violation should have voided my mortgage in XXXX. SunTrust Mortgage failed to take appropriate action. 

2. Cost Approach used in valuation violated FDIC policies. Illegal appraisal was based on cost approach in a volatile market that is prohibited by the FDIC. XXXX has NEVER provided supporting evidence about its valuation to justify the mortgage balance. NEVER once. 

3. Economic Depreciation is missing from appraisal. This section was blank and should have reflected the market volatility. 

4. Comparables were flawed. Evidence was provided to show that comparables were flawed. 
SunTrust Mortgage has NEVER substantiated the valuation and appraisal legality. 

Failing to resolve this matter in a reasonable and equitable way is a violation. Failing to respond to what you believe is a closed matter will only continue the mounting violations of concealment. Just because SunTrust arrogantly suggests the matter is closed is a moot point. Truthful answers, transparency, and a reasonable resolution close this matter. 

Please be advised that under the Fraud Enforcement and Recovery Act of XXXX ( FERA ) and False Claims Act ( FCA ), SunTrust Mortgage is obligated to address its mortgage servicing and fraud violations for XXXX ( XXXX ) years. 

All the information above is provided and reported to the best of my knowledge and ability. Any errors or omissions are accidental or unintentional.

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