Consumer complaint received 2020-05-21
Company: TRUIST FINANCIAL CORPORATION
State: VA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Investigation took more than 30 days

Complaint:
I have a Suntrust mortgage on a home in VA. I have never been late on a payment until XX/XX/XXXX. I have a lease purchase agreement that requires the lessee to make the payments at the branch. In fact over the past 3 or so years the lessee has paid down the principal portion of the mortgage approximately $ XXXX. On our about XX/XX/XXXX, a payment in the amount of {$6000.00} was made. Unfortunately there were insufficient funds and the check was returned. Suntrust attempted to redeposit the check 3 times and each time it was returned. On XX/XX/XXXX, I was notified that the check was returned for insufficient funds. Since this payment was due on XX/XX/XXXX and since I was notified after the 30 day window, Suntrust informed all credit bureaus that I was 30 days late. My Credit score dropped approximately 60 pts on all credit bureaus. I believe that Suntrust had the opportunity to inform me that that the check was returned before XX/XX/XXXX. I have discussed this with Suntrust and submitted a dispute and it was denied. I have clearly been treated unfairly by Suntrust and they have no intention of accepting any blame for the lack of notification. My complaint filing is delayed, because I never new this was an option until recently. 

Here is my response to Suntrust 's response ( XXXX ) to my complaint of XXXX Complaint # XXXX : Suntrust stated they called me twice and sent me a letter. I never received a call or VM. The Attached letter they sent is dated XX/XX/XXXX, the same day I was credited back the late fee of {$140.00}. Initially, the late charge is added on XX/XX/XXXX and then credited on XX/XX/XXXX after the payment is received by Suntrust Mortgage. I have no idea why there is a 2-3 day delay between the Suntrust branch receiving the payment and Suntrust mortgage crediting, but this has always been the case. The fact is on XX/XX/XXXX, the Mobile app online statement states that everything is in order. The Payment received and the late fee is credited. 

To prove this, the Attached online statement from the Mobil app portal clearly shows that the late charge of {$140.00} was charged on XX/XX/XXXX and then credited back on XX/XX/XXXX after the payment was credited to the account on XX/XX/XXXX. The only time I was contacted by Suntrust regarding the insufficient funds was via email on XX/XX/XXXX and on XX/XX/XXXX the online portal shows 3 returned item notations and a charge assessed of {$140.00}. I was not contacted until XX/XX/XXXX ( see attached email ). As soon as I was contacted, I rectified the situation as fast as I could. 

One additional note on the payment timing. If the payment was made at the branch on Saturday, XX/XX/XXXX it conceivably could have taken until the XX/XX/XXXX to get credited at Suntrust Mortgage. This delay is not fair to the consumer. 

Is your online portal not accurate? Should the consumer not trust the information that is displayed on the Mobile app portal? Should I be questioning all transactions listed on the Mobile app portal for accuracy? Why does it take 2-3 days for a Suntrust branch transaction to be credited to Suntrust Mortgage? Are you not the same company?

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